Hindustan Zinc ’s revenue was Rs 86 billion (YoY/QoQ: +18%/+4%) versus our estimate of Rs 82 billion. The growth was largely on account of higher zinc and silver prices and a strong dollar, marginally offset by lower metal volume.
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Motilal Oswal Report
Hindustan Zinc Ltd.'s Q3 FY25 performance was largely in line with our estimates. The company continues to focus on improving production with tight cost control. We retain our earnings estimates and expect Hindustan Zinc to maintain its focus on profitability.
At current market price, Hindustan Zinc trades at 7.5x FY27E enterprise value/Ebitda, and we believe the current valuation prices in all positive factors.
We reiterate our Neutral rating with a target price of Rs 460 (premised on eight times EV/Ebitda on FY27 estimates)
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