Hindustan Zinc Q4 Results Review - Dividend Payouts To Remain Elevated: Systematix

"BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .Systematix Research Report.Hindustan Zinc Ltd.'s Q4 FY23 Ebitda of Rs 42.5 billion -14.2/+14.8% YoY/QoQ was 2% above our estimates. At 215 thousand tonne, zinc volumes were +1.9/+2.4% YoY/QoQ. Zinc/lead prices averaged at $3,124/tonne (-16.8%/+4% YoY/QoQ) and $2,140/tonne (-8.4%/+2% YoY/QoQ), respectively during the quarter. Silver prices averaged $22.6/ounce and were -5.8/+6.6% YoY/QoQ. Before royalty, zinc’s cost of production was $1,214/tonne, +6.9%/-6.1% YoY/QoQ.Management has set FY24 guidance of 1.05-1.075 million tonne of mined metal production (Zinc plus lead metal), implying a 1.8% to 4.3% YoY growth, and 725-750 tonne of silver production (1.5%-5% YoY). Zinc cost of production guidance is set at $1,125-1,175/t (-9% to -10%/YoY). We have factored in mined metal production at 1.06 mt (+2.9% YoY) and silver production at 743 tonne (+4.1% YoY) for FY24. We revise our FY24E zinc price assumption downward by 9%, and factor in the impact of brand fee-related payments at 2% of topline, and lower energy-related costs. As a result, we have revised our FY24E/25E Ebitda by -10%/- 8%, respectively..Click on the attachment to read the full report:.Reliance Industries Q4 Results Review - Next Leg Of Growth Capex Picking Up: HDFC Securities.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner."

Hindustan Zinc Q4 Results Review - Dividend Payouts To Remain Elevated: Systematix

The company recorded steady performance despite negative global cues, aided by strong volumes with FY23 zinc production at 820 kt.

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Hindustan Zinc Q4 Results Review - Dividend Payouts To Remain Elevated: Systematix

The company recorded steady performance despite negative global cues, aided by strong volumes with FY23 zinc production at 820 kt.

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