Hindustan Zinc Ltd. share price target

Revenue increased by 25.43% to Rs. 6756.15 Cr in Q4FY17 when compared to the previous quarter. Also, it increased by 95.63% when compared with Q4FY16.

Hindustan Zinc (HZ) reported strong numbers (EBITDA: Rs 37.2bn, 2.8x YoY, 33.8% QoQ), driven by higher volumes (refined Zn 37.3% YoY, 2.8% QoQ) and strong pricing (LME Zn up 65% YoY). Zn cost of production remained stable at US$800 levels despite higher coal/met-coke prices, led by higher volumes.

ICICI Securities Ltd | Retail Equity Research For Q4FY17, Hindustan Zinc (HZL) reported a better-than-expected performance on the back of higher-than-expected sales volumes The company reported a gross operating income from operations of | 6756.2 crore. After adjusting for excise duty, net operating income for the quarter was at | 6260.2 crore (up ~99.9% YoY, ~25.7% QoQ, higher than our estimate of | 5778.2 crore). Zinc sales volume for the quarter was at ~217000 tonnes (up 37.3% YoY, 2.8% QoQ, higher...

Revenue came in at Rs67.6 bn (+116%/+26% YoY/QoQ) driven by higher LME and volume. LME for Zinc stood at US$ 2773(+65%/+10% YoY/QoQ) & Lead at US$ 2269 (+30%/+6% YoY/QoQ) whereas volume surged by 37% and 15% YoY respectively for zinc and lead EBITDA stood at Rs 37.5 bn (+187%/+35% YoY/QoQ) due to operating leverage and higher...

Q3FY17 EBITDA at Rs 28 bn (up 88% YoY) was below our estimate due to lower volume. The YoY improvement in performance was mainly due to (1) ramp-up in production from Rampura Agucha open cast mine as per the mine plan; (2) higher LME prices; and (3) depreciation of rupee.

Revenue increased by 42.55% to Rs. 4943.89 Cr in Q3FY17 when compared to the previous quarter. Also, it rose by 46.04% when compared with Q3FY16.

Hindustan Zinc (HZ) reported a beat (revenues 8.2%, EBITDA 3.2% vs estimates), driven by higher volumes (refined Zn 5.5% vs estimates, 3.4% YoY, 41.6% QoQ), somewhat offset by higher costs. Cost of production of zinc (zn) was higher by ~US$50 QoQ (US$861/t, 8.3% YoY) due to a one-time charge in the ore-to-waste ratio norm over life of mine and additional excavation in Rampura Agucha O/C.

ICICI Securities Ltd | Retail Equity Research Hindustan Zinc (HZL) reported a broadly in line performance for Q3FY17 wherein the topline was marginally higher than our estimates while PAT came in broadly in line with our estimate The company reported a gross operating income of | 5384.0 crore. After adjusting for excise duty, net operating income for the quarter was at | 4979.9 crore (up 45.2% YoY, 41.2% QoQ, marginally higher than our estimate of | 4852.8 crore). Zinc sales volume for the quarter...

ICICI Securities Ltd | Retail Equity Research Hindustan Zinc (HZL) reported a healthy set of Q2FY17 numbers wherein topline, EBITDA and PAT came in higher than our estimates. The better-than-expected performance was driven by higher volumes After adjusting for excise duty, net operating income for the quarter came in at | 3525.7 crore (up 39.3% QoQ, higher than our estimate of | 3166.6 crore). Zinc sales volumes were at ~148000 tonnes (up 23.3% QoQ, higher than our estimate of 140000 tonnes). Lead sales volumes...

Cost Efficiency Leads to Earnings Beat; but Valuations Rich Hindustan Zinc's (HZL) EBITDA grew strongly by 74% qoq to Rs19.7bn in 2QFY17, topping our estimate of Rs17.5bn, aided by higher realization (up 21% yoy) and lower-than-expected overall cost. However, EBITDA declined by 10% yoy owing to fall in production of zinc (down 29% yoy; up 47% qoq) and lead (down 23% yoy; up 24% qoq) to 150,000 tonne & 31,000 tonne, respectively mainly due to lower output from Rampura Agucha Mine. While mine transition from open cast to underground is progressing well, HZL continues to maintain its guidance of marginally higher mined...