Hindustan Zinc

What Hindustan Zinc does

Hindustan Zinc Limited is the world's largest integrated zinc producer and a top-tier global silver producer, majority-owned by Vedanta Limited following its 2002 acquisition. Founded in 1966 and headquartered in Udaipur, Rajasthan, the company operates five underground mines — including Rampura Agucha, the world's largest underground zinc-lead mine — and four smelting complexes, with the Chanderiya Lead-Zinc Smelter (830 KT combined pyro-hydro capacity) ranking among the world's largest. It produces Special High Grade zinc, PW zinc, Zamak-3 alloys, lead, silver (~800 tonnes annual capacity), and is developing critical minerals including tungsten, graphite, and nickel across seven exploration blocks in India. Hindustan Zinc commands 74% of India's primary zinc market and supplies metals to 40+ countries.

The company monetizes through one-time industrial sales of refined metals under quote-based pricing, including a disclosed HZL Premium structure (USD 115/tonne headline for SHG zinc DUP in monthly 25-tonne long-term contracts). Revenue is generated primarily through direct enterprise field sales via four zonal sales offices across India, supplemented by the Metal Bazaar e-commerce platform, channel partner networks for domestic distribution, and an international sales team. FY26 reported revenue of ₹40,844 crore with profit after tax of ₹13,832 crore, ROCE of 67% (highest in 18 years), and zinc production cost of $959/tonne (five-year low) reflect exceptional unit economics supported by captive power generation and process automation.

Hindustan Zinc is executing an offensive growth strategy under the HZL 2.0 programme, which commits ₹40,000–50,000 crore in capex over five years to double refined metal capacity to 2 million tonnes and triple ore reserves to 50+ million tonnes by 2030. Downstream expansion includes a Zinc Industrial Park at Khankhala, fertilizer production (1.5 million tonne target), zinc-ion battery R&D with JNCASR, India's first zinc tailings recycling facility, and a green hydrogen underground mining trial. The Zinnovation 2026 initiative targets $209 million in AI-led value delivery, with AI/ML, computer vision, and digital twin systems already embedded across mining, smelting, and safety operations. The company is the first Indian member of the International Council on Mining and Metals, holds India's first Zinc Mark certification (Rampura Agucha), and has been named S&P Global's World's Most Sustainable Metals and Mining Company for three consecutive years.

Name

Hindustan Zinc

Legal name

Hindustan Zinc Limited

Website

https://hzlindia.com

Company type

Public

Founded year

1966

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Hindustan Zinc is the world's largest integrated zinc producer and a top-five global silver producer, controlling 74% of India's primary zinc market. It operates five underground mines and four smelting complexes in Rajasthan, serving infrastructure, automotive, renewables, and battery customers across 40+ countries under Vedanta Limited ownership.

Ownership category

akta.pro rank

Product category

Non-Ferrous Metals Mining and Smelting

NAICS

Nonferrous Metal (except Aluminum) Smelting and Refining (33141), Copper, Nickel, Lead, and Zinc Mining (212230)

SIC

Primary Smelting & Refining Of Nonferrous Metals (3330), Metal Mining (1000), Wholesale-Metals & Minerals (No Petroleum) (5050)

akta.pro primary industry

Non-Ferrous Base Metals Trading (Aluminum, Copper, Zinc, Lead, Tin, Nickel) (IMAKAJAC)

akta.pro secondary industries

Silver Mining (IMAKAEAB), Exploration & Resource Development (Critical Minerals) (IMAKAFAL), Battery-Grade Chemical Processing (LiOH/Li2CO3, Ni/Co Sulfates, Mn Sulfate) (IMAKAFAI)

Keywords

• Zinc metal production
• Lead smelting
• Silver production
• Underground mining
• Galvanizing steel

Headquarters

HQ city

Udaipur

HQ country

India

HQ region

Asia

Offices14 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Personnel, Infrastructure, Technology or R&D

Revenue model

1. Zinc Production & Sales: Refined zinc metal production from integrated mining and smelting operations. Primary product category serving galvanizing steel for infrastructure, auto, renewables, electronics, and e-mobility sectors.
2. Lead Production & Sales: Lead metal production for batteries, cables, defence, radiation shielding, and communication equipment.
3. Silver Production & Sales: Silver as byproduct of zinc/lead mining. Among top 10 global silver producers, serving solar, electronics, AI, nanotech, biotech, and jewellery sectors.
4. Fertilizer Production: Plans to produce 1.5 million tonnes of fertiliser as part of growth strategy.
5. Special Alloys (Zamak): Zamak-3 and other zinc-based alloys for industrial applications.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels9 records

Core offering

Hindustan Zinc is the world's largest integrated zinc producer, operating underground mines and smelting complexes in Rajasthan, India. It produces refined zinc (SHG, PW, Zamak-3 alloy), lead, and silver for industrial customers in infrastructure, automotive, renewables, electronics, and battery sectors. The company also explores critical minerals including tungsten, graphite, and nickel, and sells sulphuric acid as a smelting by-product.

Product overview

Hindustan Zinc operates as the world's largest integrated zinc producer, offering a diversified portfolio of metals and mining services. The core product portfolio includes Zinc (SHG, PW, Zamak-3 alloy), Silver (among top 5 globally at ~800 tonnes/year), Lead (India's largest), and Critical Minerals (tungsten, graphite, nickel). Mining operations span five underground mines: Rampura Agucha, Rajpura Dariba, Sindesar Khurd, Zawar, and Kayad. Smelting operations include Chanderiya Lead-Zinc Smelter (one of world's largest at 830 KT capacity), Debari Smelting Operations, Dariba Smelting Complex, and Pantnagar Metal Plant. Downstream initiatives include the Zinc Industrial Park in Khankhala for zinc wire manufacturing and metal recovery, while digital sales are managed through Metal Bazaar platform. The company is expanding into fertilizer production, tailings reprocessing, and zinc-ion battery technology through strategic partnerships.

Differentiator

Problem solved

Functional benefit

Brands

• Zinc Football Academy: Social initiative football academy supporting grassroots football development in India with residential programs for girls
• Metal Bazaar
• Zinnovation

Products and services

• Zinc Refined zinc metal including Special High Grade (SHG) zinc, PW Zinc, and Zamak-3 alloy. Vital for galvanizing steel and serving infrastructure, automotive, renewables, electronics, and e-mobility sectors.
• Silver Silver metal produced as a by-product of zinc and lead mining, among the top 10 globally with approximately 800 tonnes annual capacity. Serves solar, electronics, AI, nanotech, biotech, and jewellery sectors.
• Lead India's largest lead producer supplying lead metal for batteries, cables, defence, radiation shielding, and communication equipment.
• Critical Minerals Exploration and development of critical minerals including tungsten, graphite, and nickel, vital to EVs, digital technology, and renewable energy sectors. Operating 7 exploration blocks across 6 states.
• Sulphuric Acid Sulphuric acid produced as a by-product of smelting operations, sold through a dedicated sulphuric acid portal at estore.vedantametalbazaar.com.

Quantifiable outcome

• 67% Return on Capital Employed in FY26 - highest in 18 years
• +3 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability10 records

Feature7 records

Partnerships

Ten partnerships are on record, tiered core, major and supporting.

• Advantek Associates & Aero Eagle AutomobilescoreStrategic or Co-development Partner · 22 June 2026Tripartite MoU to explore green hydrogen solutions for underground mining operations. Partnership will conduct feasibility studies on hydrogen generation, storage, dispensing systems, and hydrogen-powered equipment including H2-ICE and fuel cell technologies for heavy-duty mining applications. First mining company in India to assess hydrogen fuel for underground use.
• Sulfozyme Agro IndiacoreStrategic or Co-development Partner · 10 June 2026MoU for operations at Zinc Industrial Park in Khankhala, Bhilwara district, Rajasthan. Sulfozyme Agro will establish facilities to process zinc-based materials into value-added products, with Hindustan Zinc providing raw material support and infrastructure. Initiative aims to strengthen India's downstream zinc sector.
• TERI (The Energy and Resources Institute)coreStrategic or Co-development Partner · 6 June 2026MoU to develop a 250-hectare ecological restoration project at Chanderiya Lead Zinc Smelter Complex, creating what the company describes as the world's largest green cover area within industrial premises. Uses scientific multi-layered approach with native species and invasive species management.
• V-Spark DeepTech VenturescoreTechnology or Integration · 15 May 2026Collaboration to advance AI-led industrial transformation through 'Zinnovation 2026'. Targeting $209 million in value delivery through productivity improvements, cost optimization, asset reliability, energy efficiency, and safety enhancements. Working with over 50 DeepTech startups on more than 100 AI projects.
• XCMG, Sandvik, STL Digital, AVEVAmajorTechnology or Integration · 15 May 2026MoU signings with XCMG (construction equipment), Sandvik (mining equipment), STL Digital (digital solutions), and AVEVA (industrial software) to deploy AI solutions across mining, smelting, and manufacturing operations. Focus on predictive maintenance, digital twins, connected operations, and autonomous systems.
• DeepTech Startups (Beta Tanks Robotics, Symboticware AI, Infinite Uptime, Intellisense.io, Flutura, Accenture)supportingTechnology or Integration · 15 May 2026Agreements with multiple AI and DeepTech startups to advance industrial automation solutions and evaluate pilot readiness for AI implementations.
• Group NirmalcoreStrategic or Co-development Partner · 13 May 2026MoU to establish a zinc wire manufacturing facility at Zinc Industrial Park in Khankhala, Bhilwara district. Facility will produce zinc wire from Special High Grade zinc for thermal spray coatings protecting steel structures from corrosion, serving bridges, railways, ports, pipelines, transmission towers, and renewable energy projects.
• JNCASR (Jawaharlal Nehru Centre for Advanced Scientific Research)coreStrategic or Co-development Partner · 9 February 2026Partnership to develop zinc-ion battery prototypes for large-scale renewable energy storage. Part of Hindustan Zinc's strategy to explore innovative applications of zinc in emerging technologies.
• CIMIC Group CompaniescoreStrategic or Co-development Partner · 24 January 2026Partnership to set up India's first zinc tailings recycling facility. Hindustan Zinc is advancing Zinc Mark certification across its operations as part of its long-term commitment to responsible production.
• GreenLine MobilitysupportingStrategic or Co-development Partner · 4 August 2025Partnership to deploy EV and LNG trucks for green logistics operations. Deeper partnership to decarbonize Hindustan Zinc's logistics operations.

Scale indicators17 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Korea Zinc: Korea Zinc is the world's largest zinc refiner and a major producer of lead, copper, and precious metals. It is the most direct global comparable to HZL given its integrated zinc smelting, similar byproduct metals exposure (silver, gold), and broad customer base across galvanizing and battery applications.
• Nexa Resources: Nexa Resources is an integrated zinc producer with mining and smelting operations in Brazil and Peru, producing zinc, lead, copper, and silver. It is closely comparable to HZL on integrated mine-to-metal zinc model, silver byproduct exposure, and emerging-market geographic profile.
• Boliden: Boliden is a Swedish integrated miner and smelter producing zinc, lead, copper, and precious metals across Nordic operations. Its integrated zinc-lead-silver value chain and focus on low-cost, sustainable production make it a strong European comparable to HZL.
• Nyrstar: Nyrstar is a global multi-metals business focused on zinc and lead smelting, owned by Trafigura. Comparable to HZL's smelting footprint and product mix, with similar exposure to industrial customers in galvanizing and battery markets.
• Yunnan Chihong Zinc & Germanium: Yunnan Chihong is one of China's largest integrated zinc and lead producers with significant germanium byproduct. Comparable on integrated mine-to-metal zinc-lead model and byproduct recovery, though it operates in a different regulatory and cost environment.

Broad incumbents

• Glencore: Glencore is one of the world's largest diversified miners and commodity traders with major zinc mining and smelting operations. Comparable to HZL on integrated zinc-lead-silver production scale, though Glencore spans a much broader commodity and trading portfolio.
• Teck Resources: Teck Resources is a major Canadian diversified miner with a significant zinc and lead business (formerly Teck Cominco). Its integrated base-metals operations and red-metal exposure make it a broad incumbent comparable, though it spans coal and copper more heavily than HZL.
• Sumitomo Metal Mining: Sumitomo Metal Mining is a Japanese integrated non-ferrous metals producer with nickel, copper, gold, and minor zinc exposure. Comparable as an established Asian non-ferrous metals incumbent with downstream battery materials strategy relevant to HZL's critical minerals expansion.

Regional players

• Vedanta Limited: Vedanta Limited is HZL's majority parent and operator of adjacent Indian metals businesses (aluminium, copper, iron ore). Directly relevant as the controlling shareholder and as a peer in Indian metals context, though its portfolio spans multiple commodities beyond HZL's zinc-lead-silver focus.

Emerging players

• Silvercorp Metals: Silvercorp Metals is a Canadian producer focused on silver, lead, and zinc mining in China. Comparable to HZL on the silver-lead-zinc byproduct revenue mix, though it is a smaller, mining-only operation without HZL's integrated smelting and downstream scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/hindustan_zinc
• YouTubeyoutube.com/channel/UCf_BrqkAnOnpUSTnuR1ck3Q
• Facebookfacebook.com/HindustanZinc
• LinkedInlinkedin.com/company/hindustanzinc
• Instagraminstagram.com/hindustan_zinc

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hindustan Zinc