Hindustan Zinc Ltd

Hindustan Zinc Ltd

₹ 464 -1.05%
23 Dec - close price
About

Incorporated in 1966, Hindustan Zinc in Zinc-Lead and Silver business is world’s 2nd largest integrated Zinc producer and Hindustan Zinc is the 3rd largest silver producer globally with an annual capacity of 800MT . The company has a market share of ~75% of the growing Zinc market in India with its headquarters at Zinc City, Udaipur along with Zinc-Lead mines and smelting complexes spread across the state of Rajasthan.[1]

Key Points

**Dominant and Leading player **
Hindustan Zinc is self-sufficient in power with captive thermal power plants and has ventured into green energy by settingup wind power plants.[1]World’s largest underground (UG) zinc mining operations at Rampura Agucha.

Geographical presence
Company exports accounted for 25% of turnover. [2] [3]

  • Market Cap 1,96,013 Cr.
  • Current Price 464
  • High / Low 808 / 285
  • Stock P/E 22.3
  • Book Value 18.1
  • Dividend Yield 6.25 %
  • ROCE 46.2 %
  • ROE 55.2 %
  • Face Value 2.00

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 39.2%
  • Company has been maintaining a healthy dividend payout of 151%

Cons

  • Stock is trading at 25.6 times its book value
  • The company has delivered a poor sales growth of 6.50% over past five years.
  • Promoters have pledged 99.0% of their holding.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
6,122 7,990 8,797 9,387 8,336 7,866 8,509 7,282 6,792 7,310 7,550 8,130 8,242
2,787 3,620 3,834 4,249 3,928 4,159 4,250 3,934 3,653 3,790 3,896 4,179 4,138
Operating Profit 3,335 4,370 4,963 5,138 4,408 3,707 4,259 3,348 3,139 3,520 3,654 3,951 4,104
OPM % 54% 55% 56% 55% 53% 47% 50% 46% 46% 48% 48% 49% 50%
311 279 277 310 367 349 356 287 231 305 280 277 185
Interest 82 50 66 44 51 62 176 218 232 243 262 256 319
Depreciation 702 741 816 731 798 807 928 801 825 904 936 843 875
Profit before tax 2,862 3,858 4,358 4,673 3,926 3,187 3,511 2,616 2,313 2,678 2,736 3,129 3,095
Tax % 30% 30% 33% 34% 32% 32% 26% 25% 25% 24% 25% 25% 26%
2,017 2,701 2,929 3,093 2,681 2,157 2,589 1,970 1,737 2,038 2,042 2,358 2,298
EPS in Rs 4.77 6.39 6.93 7.32 6.35 5.10 6.13 4.66 4.11 4.82 4.83 5.58 5.44
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
12,700 13,636 14,788 14,181 17,273 22,082 21,118 18,561 22,629 29,440 34,098 28,934 31,232
6,172 6,717 7,338 7,923 7,534 9,812 10,448 9,691 10,957 13,214 16,577 15,253 16,003
Operating Profit 6,528 6,919 7,450 6,258 9,739 12,270 10,670 8,870 11,672 16,226 17,521 13,681 15,229
OPM % 51% 51% 50% 44% 56% 56% 51% 48% 52% 55% 51% 47% 49%
1,966 1,881 2,788 3,127 2,474 1,956 1,782 1,911 1,819 1,082 1,373 1,083 1,047
Interest 27 45 24 17 202 246 113 112 386 290 333 955 1,080
Depreciation 647 785 644 745 1,811 1,483 1,883 2,279 2,531 2,917 3,264 3,466 3,558
Profit before tax 7,820 7,970 9,570 8,623 10,200 12,497 10,456 8,390 10,574 14,101 15,297 10,343 11,638
Tax % 12% 13% 15% 5% 18% 26% 24% 19% 25% 32% 31% 25%
6,899 6,905 8,178 8,175 8,316 9,276 7,956 6,805 7,980 9,630 10,520 7,787 8,736
EPS in Rs 16.33 16.34 19.35 19.35 19.68 21.95 18.83 16.11 18.89 22.79 24.90 18.43 20.67
Dividend Payout % 19% 21% 23% 144% 149% 36% 106% 102% 113% 79% 303% 71%
Compounded Sales Growth
10 Years: 8%
5 Years: 7%
3 Years: 9%
TTM: 3%
Compounded Profit Growth
10 Years: 3%
5 Years: 0%
3 Years: 0%
TTM: 4%
Stock Price CAGR
10 Years: 11%
5 Years: 17%
3 Years: 14%
1 Year: 50%
Return on Equity
10 Years: 25%
5 Years: 29%
3 Years: 39%
Last Year: 55%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 845 845 845 845 845 845 845 845 845 845 845 845 845
Reserves 31,431 36,573 42,508 36,540 29,960 35,087 32,760 39,465 31,468 33,437 12,097 14,388 6,797
0 0 0 0 7,908 0 2,538 611 7,201 2,844 11,881 8,722 14,016
3,190 4,259 5,639 15,810 13,082 7,000 6,315 6,054 6,213 7,545 10,631 9,949 10,878
Total Liabilities 35,465 41,677 48,992 53,195 51,795 42,932 42,458 46,975 45,727 44,671 35,454 33,904 32,536
8,484 9,147 9,446 10,385 9,993 11,302 14,778 16,469 16,808 17,396 17,620 18,055 17,657
CWIP 1,082 1,541 2,005 2,428 3,071 3,220 2,254 2,489 1,922 2,075 2,107 1,529 2,567
Investments 14,540 22,506 27,254 35,221 23,783 20,222 19,488 20,329 12,957 15,052 10,107 10,452 8,437
11,360 8,482 10,288 5,161 14,948 8,188 5,938 7,688 14,040 10,148 5,620 3,868 3,875
Total Assets 35,465 41,677 48,992 53,195 51,795 42,932 42,458 46,975 45,727 44,671 35,454 33,904 32,536

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
4,785 5,471 5,531 6,451 7,588 9,800 8,781 6,621 10,567 12,691 15,166 13,343
-3,269 -3,955 -3,807 -3,236 12,007 2,396 -1,092 -2,648 -2,435 846 6,525 -3,405
-1,255 -1,577 -1,902 -3,214 -11,266 -18,612 -9,630 -2,098 -9,697 -12,258 -23,224 -9,946
Net Cash Flow 261 -62 -178 1 8,329 -6,416 -1,941 1,875 -1,565 1,279 -1,533 -8

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 12 11 16 3 3 3 3 7 7 9 4 2
Inventory Days 620
Days Payable 225
Cash Conversion Cycle 407 11 16 3 3 3 3 7 7 9 4 2
Working Capital Days 11 -1 -14 -347 -208 -67 -54 -44 -56 -27 -37 -49
ROCE % 23% 20% 25% 20% 26% 33% 28% 22% 26% 37% 50% 46%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
64.92% 64.92% 64.92% 64.92% 64.92% 64.92% 64.92% 64.92% 64.92% 64.92% 64.92% 63.42%
0.70% 0.79% 0.86% 0.81% 0.87% 0.80% 0.81% 0.75% 0.69% 0.60% 0.74% 1.01%
2.90% 2.95% 2.95% 2.95% 3.03% 2.94% 2.95% 2.98% 2.97% 2.98% 3.01% 3.12%
29.58% 29.58% 29.58% 29.54% 29.54% 29.54% 29.54% 29.54% 29.54% 29.54% 29.54% 29.54%
1.90% 1.76% 1.69% 1.78% 1.65% 1.79% 1.77% 1.81% 1.88% 1.97% 1.78% 2.92%
No. of Shareholders 2,55,9572,65,5782,72,2353,03,3892,86,1583,21,0163,42,5393,75,8334,01,9854,22,0724,45,9296,24,025

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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