Hindustan Zinc share | Stock to buy | Q2 Results 2026 Review: Beating the market estimates by a huge margin, the Vedanta Group company Ltd reported strong Q2 results 2026 on Monday. The Anil Agarwal-led company reported a robust 15% QoQ growth in EBITDA, while the consensus estimate was only 6.90%. The company also reported a strong QoQ revenue growth of 12% during the September 2026 quarter.
According to market experts, the robust Q2 results 2026 are expected to positively impact Hindustan Zinc shares when trading resumes on Wednesday. They have given a ‘buy’ tag to the Vedanta Group stock, giving a medium-term target of ₹590 and a long-term Hindustan Zinc share price target of ₹677.
Hindustan Zinc Q2 results 2026 review
Speaking on the Q2 results 2026 of Hindustan Zinc Ltd, Shweta Dikshit, Deputy Vice President – Metals and Mining at Systematix Institutional Equities, said, “Hindustan Zinc’s earnings outlook remains supported by a favourable zinc and silver price environment, improving cost efficiencies and ongoing capacity expansion. Revision in FY27 zinc CoP guidance to USD 825-850/t from USD 975-1,000/t reflects the benefit of higher sulphuric acid realisations, rising renewable energy penetration and improved operating efficiencies, despite some geopolitical cost pressures.”
The Systematix expert said that silver production guidance of 680t for FY27 remains intact, with volumes expected to rise further to ~730-750t in FY28 supported by debottlenecking efforts. We remain constructive on the underlying commodity backdrop, with both zinc and silver expected to remain in supply deficit, although near-term prices could remain volatile amid geopolitical developments, energy costs, and currency movements.
indusHindustan Zinc share price target
Decoding the technical chart pattern for short-to-medium term investors, Mahesh M Ojha, VP — Research and Business Development at KC Securities, said, “The stock is looking positive on the weekly chart. Existing shareholders can hold the scrip, maintaining a strict stop-loss at ₹490. The stock is facing resistance in the ₹557- ₹560 band. On breaking above this band, we can expect Hindustan Zinc share price to scale up to ₹590.”
Ojha said that fresh investors can also buy Hindustan Zinc shares at the current market price for upside targets of ₹575 and ₹590, with a strict stop-loss at ₹490.
Giving Hindustan Zinc shares a ‘buy’ tag for long-term, Shweta Dikshit of Systematix Institutional Equities said, “We raise our FY27E/FY28E EBITDA estimates by 23%/9%, reflecting stronger 1HFY27 performance, lower CoP assumptions and higher zinc prices, and introduce FY29 estimates. We value the zinc and lead businesses at 9x 1HFY29E EV/EBITDA and arrive at a revised SoTP-based TP of ₹677/share ( ₹669 earlier), implying 26% upside from CMP.”
Hindustan Zinc Q2 results 2026
Hindustan Zinc (HZ) reported strong 2QFY27 revenue of ₹14,582 crore (+76% YoY/+12% QoQ), 12% above our estimate, driven by higher metal production, higher by-product realisations, and a stronger dollar. EBITDA for the quarter stood at ₹9,248 crore (+108% YoY/+15% QoQ), 12% above our estimate, supported by lower production costs. EBITDA margin improved by 928bps/272bps YoY/QoQ to 61.3% in 2QFY27.
Mined metal production was reported at 271kt in 2QFY27, up 5%/1% YoY/QoQ. Refined zinc production came in at 212kt, up 5% YoY but fell 1% QoQ. Lead production during the quarter stood at 51kt, up 13%/9% YoY/QoQ, while silver production of 173 tons was up 20%/16% YoY/QoQ. Zinc CoP (exroyalty) stood at USD 703/t, falling 29% YoY and 17% QoQ on account of higher output, better mined grades, and a higher share of renewable power in the consumption mix, partially offset by lower domestic coal usage. HZ ended 2QFY27 with net debt of ₹3,710 crore versus ₹5,760 crore at the end of FY26.
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