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Hindustan Zinc Ltd: History, Financial Highlights, Ownership, and Growth Journey
Author
Shoonya Team
Udaipur, known to the world for its shimmering lakes and royal architecture, carries another identity that few truly know. It is India’s Zinc City. More than two thousand years ago, the region around Udaipur was already known for its rich zinc and lead deposits. When Hindustan Zinc was established in 1966, it built upon that legacy, transforming Udaipur from a quiet heritage city into the heart of India’s zinc industry.
Let us read about the history of Hindustan Zinc.
Hindustan Zinc History- From Zawar’s Mines to Global Leadership
Zinc, the 24th most abundant element in the Earth’s crust, has been part of India’s industrial and cultural story for over two millennia. The earliest evidence of zinc mining can be traced to the ancient mines of Zawar, near Udaipur, Rajasthan, which remain among the oldest known zinc mines in the world.
Building on this deep-rooted legacy, Hindustan Zinc Limited (HZL) was established in 1966 by the Government of India, taking over the assets of the Metal Corporation of India. Today, Hindustan Zinc stands as one of the world’s largest producers of zinc and remains India’s only fully integrated Zinc-Lead-Silver company. As of November 7, 2025, it is the fifth-largest company in the Nifty Metal Index based on market capitalisation.
The defining chapter in Hindustan Zinc’s journey began in 2002, when UK-based Vedanta Resources, led by industrialist Anil Agarwal, took the helm.
The acquisition proved transformative by bringing in fresh capital, advanced technology, and a global outlook that reshaped the company’s future. Often cited as one of India’s most successful disinvestment stories, Vedanta’s entry marked the start of a new era of accelerated growth, modernisation, and renewed purpose for Hindustan Zinc.
The move sparked debate at the time but proved to be a turning point for the company. With Vedanta’s investment and updated technology, Hindustan Zinc began to improve its refining processes and started extracting more silver from its ore, helping it become a top global silver producer.
HZL has also made sustainability and ethical business a priority. The company is a member of the International Council on Mining and Metals (ICMM) and has earned recognition as a leader in sustainable mining worldwide. Its operations cover Rajasthan’s key mining districts, including Udaipur, Rajsamand, Bhilwara, and Ajmer.
Hindustan Zinc Limited- Yearly Milestones
| Category | Year / Period | Key Highlights |
| Company Formation | 1966 | Hindustan Zinc Limited (HZL) was established as a public sector company, taking over assets from the Metal Corporation of India. |
| Disinvestment & Acquisition | 2001–2003 | Government initiates disinvestment; Sterlite Opportunities and Ventures Limited (Vedanta Group) acquires controlling stake (64.92%). |
| Stock Listing | 2006 | HZL was listed on the Indian stock exchanges on November 21. |
| Post-Privatization Growth | 2003–2010 | Rapid expansion and modernisation of mines and smelters, making it India’s largest zinc producer. |
| Global Leadership | 2010–2015 | Strengthens position as the world’s second-largest zinc producer and third-largest silver producer. |
| Financial Benchmarks | FY 2014 | Revenue: ₹13,636 crore; Net Profit: ₹6,905 crore. |
| FY 2018 | Revenue: ₹22,082 crore; Net Profit: ₹9,276 crore. | |
| FY 2022 | Revenue: ₹29,440 crore; Net Profit: ₹9,629 crore. | |
| FY 2023 | Record Revenue: ₹34,098 crore; Net Profit: ₹10,511 crore. | |
| FY 2024 | Revenue: ₹28,934 crore; Net Profit: ₹7,759 crore. | |
| FY 2025 | Revenue rebounds to ₹33,845 crore; Net Profit: ₹10,459 crore. | |
| Market Capitalization | 2025 | Market Cap: ₹1.99 trillion — among India’s largest metal companies and part of the global top 1000 by market cap. |
| Acquisitions & Investments | Early 2000s | Vedanta’s acquisition marks one of India’s landmark PSU privatisations. |
| 2025 | HZL partners with Aesir Tech for zinc battery solutions, entering green technology. | |
| Expansion Initiatives | June 2024 | Announces ₹12,000 crore expansion to double capacity to 2+ million tonnes per year within five years. |
| Q1 FY26 | Expansion work begins, including a new greenfield smelter. | |
| 2025 | Signs a power agreement to boost renewable energy sourcing to 530 MW. | |
| 2025 | Vedanta offloads ~₹3,027 crore stake as part of restructuring. | |
| Sustainability & ESG | Ongoing | Leads in renewable energy adoption and sustainable mining, aligning operations with global ESG standards. |
About Hindustan Zinc Limited
Hindustan Zinc Limited (HZL), a subsidiary company of Vedanta Limited, is India’s largest and the world’s second-largest integrated zinc-lead producer. Headquartered in Udaipur, Rajasthan, the company operates some of the most advanced underground mining and smelting facilities in the world.
Established in 1966 as a public sector enterprise, HZL was privatised in 2002 when the Government of India divested its majority stake to Vedanta Resources.
With consistent profitability, a strong dividend record, and a market capitalisation of about ₹1.99 trillion (2025), the company stands as a leader in India’s metal and mining industry.
Beyond financial strength, HZL is also a frontrunner in sustainability, renewable energy adoption, and green technology investments.
Diversity, Inclusion, and Workplace Transformation
Hindustan Zinc has advanced workplace inclusion by introducing night shifts for women at its Debari Smelter and appointing female mine managers. With a 26% gender diversity ratio and India’s first all-women underground rescue team, the company’s “Women of Zinc” initiative showcases its commitment to equality. It aims to raise female representation to 30% by 2030, setting new benchmarks in inclusion and growth.
Sustainability and Future Outlook
Hindustan Zinc aims to be the world’s most respected Zinc-Lead-Silver company, creating value through innovation, excellence, and sustainability while maintaining leadership and efficiency.
Guided by values of entrepreneurship, excellence, and trust, Hindustan Zinc emphasises its people, safety, and community engagement while maintaining high standards. Chairperson Priya Agarwal Hebbar notes the company is boosting silver supply for clean energy, supporting net-zero goals, and driving the transition to renewable energy. Commitment to people, planet, and prosperity remains central to HZL’s growth.
HZL’s Key Financial Highlights:
- HZL consistently features among India’s top-performing metal stocks.
- The current share price stands around ₹477 (as of recent updates).
- The company has a strong track record of steady returns and regular dividends, appealing to long-term investors.
- Net worth: Approximately ₹1.99 trillion, reflecting robust financial leadership.
- HZL is recognised for market stability and sustained growth over the years.
HZL’s Recent Recognitions and Achievements
Hindustan Zinc continues to set benchmarks across diversity, sustainability, employee well-being, and corporate excellence.
- Hindustan Zinc received the Gold Category Award for Excellence in Diversity & Inclusion at the Economic Times Human Capital Awards 2025.
- Won two Gold Awards for diversity and employee well-being at the 9th CII HR Circle.
- Honoured for excellence in employee practices at the Procurement Awards by the Indian Institute of Materials Management.
- Achieved second place in water stewardship and sustainability performance at the 15th India Corporate Governance & Sustainability Vision Summit.
- Recognised for efficient fly ash management and technology excellence at the International Conference on Fly Ash Utilisation, Goa.
- Awarded at the Tax Strategy & Planning Summit for outstanding corporate tax management.
- Annual and sustainability reports ranked No.1 globally by the LACP Vision Awards.
Community and Social Impact
Hindustan Zinc’s approach to social responsibility is built on forming partnerships and working with communities to drive real progress. Through initiatives like Sakhi, the company has enabled access to credit and supported grassroots women’s leadership. Their support for nutrition, animal welfare, and education reaches lakhs of people, showing a broad commitment to community wellbeing.
The company also champions projects in sports, health, and environmental conservation.
Hindustan Zinc’s focus on collaborative solutions helps address complex developmental challenges, aiming for a positive impact that lasts.
As Hindustan Zinc continues its journey, the commitment to partnerships and sustainable development strengthens its role not just in mining but in shaping brighter futures for communities across India.
Conclusion
As Hindustan Zinc Limited steps into its sixth decade, its journey stands as one of India’s greatest examples of industrial transformation. From the ancient mines of Zawar it has grown to become the world’s second-largest zinc producer today.
Hindustan Zinc Limited- FAQs
HZL is one of the world’s largest producers of zinc and is India’s only fully integrated Zinc-Lead-Silver company. The company mines and processes zinc, lead, and silver across key districts in Rajasthan.
HZL was established in 1966 by the Government of India, taking over assets from the Metal Corporation of India.
In 2002, the Government sold a controlling stake in HZL to Sterlite Opportunities and Ventures Limited (Vedanta Group), through a disinvestment program. This led to new investment and expansion.
Udaipur has a long mining history, with zinc mines and smelters contributing to local growth and jobs. Hindustan Zinc’s presence has earned it the nickname “Zinc City.”
HZL runs full-time shifts for women engineers at smelters and mines and has launched initiatives to promote gender diversity, including appointing female mine managers and forming an all-women underground rescue team.
HZL is recognised for sustainable mining. It is a member of the International Council on Mining and Metals (ICMM) and invests in renewable energy and responsible resource management.
HZL’s revenue and profits have grown steadily, with revenue rebounding to about ₹33,845 crore in FY2025 and market cap reaching around ₹1.99 trillion.
HZL invests in community health, education, animal welfare, women’s empowerment, and sports. Initiatives like Sakhi enable access to credit and support women’s leadership at the grassroots level.
The company received major awards for diversity, employee well-being, finance, sustainability, and reporting, including top honours at the Economic Times Human Capital Awards and the LACP Vision Awards.
HZL’s vision is to be the world’s largest and most respected Zinc-Lead-Silver company. Its mission centers on delivering value through innovation, operational excellence, safety, and sustainability.
Source: screener.in and hzlindia.com
Disclaimer: Investments in the securities market are subject to market risks; read all the related documents carefully before investing.
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