Motilal Oswal Stays 'Neutral' On Hindustan Zinc, Says Current Valuation Captures The Positives

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Motilal Oswal Report

The expansion plans are in line with Hindustan Zinc Ltd.'s long-term target to double its capacity. It continues to focus on improving production with tight cost control measures.

We retain our earnings estimates for FY26-27E and expect Hindsutan Zinc to maintain its focus on profitability. Additionally, the favorable pricing condition is likely to further support margins.

At current market price, Hindustan Zinc trades at 8.5x FY27E EV/Ebitda, and we believe the current valuation prices in all positive factors.

We reiterate our Neutral rating with a target price of Rs 480 (premised on 8.5x EV/Ebitda on FY27 estimates).

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