Guidance ledger · Q4 FY26

Hindustan Zinc Limited HINDZINC

6 revisions on record · 3 lowered · 3 raised — the strikethrough is what management used to say

gives specific guidance · shifted across quarters

Holding view → · latest concall · The pulse

↓ lowered FY26 zinc COP guidance Q4 FY25 → Q4 FY26

~~$1,025-$1,050 (Q4FY25)~~ → well below $950-$1,000 range (Q3FY26) / actual $959 (Q4FY26)

“we delivered a five-year low cost of production at $959 per ton, well below our guidance of $1,000 per ton”

↑ raised FY27 mined metal production guidance Q3 FY26 → Q4 FY26

~~Not disclosed (Q3FY26 refused FY27 numbers)~~ → 1,150 KTPA +/- 10 KT (Q4FY26)

“with an expected mined metal production of 1,150 KTPA, plus or minus 10 KT”

↑ raised FY27 zinc COP guidance Q4 FY26 → Q4 FY26

~~$959 actual FY26~~ → $975 to $1,000 per ton (Q4FY26)

“For FY27, we have guided zinc cost of production excluding royalty at $975 to $1,000 per ton, reflecting prevailing global uncertainties”

↑ raised FY27 capex Q2 FY26 → Q4 FY26

~~INR12,000cr over FY26-28 (Q2FY26 context)~~ → $500 million to $600 million (Q4FY26)

“Planned capital expenditure for FY27 is in the range of $500 million to $600 million towards announced growth projects”

↓ lowered FY26 silver production guidance Q4 FY25 → Q2 FY26

~~700-710 tons (Q4FY25)~~ → 680 +/- 10 tons (Q2FY26)

“silver guidance to 680 tons plus/minus 10 tons per annum”

↓ lowered FY26 refined metal guidance Q4 FY25 → Q2 FY26

~~1.1 million tons +/- 10kt (Q4FY25)~~ → 1,075 +/- 10kt (Q2FY26)

“we have revised our FY 2026 refined metal guidance to 1,075 plus/minus 10 thousand tons per annum”

Method. Revisions come from management's own stated numbers, compared quarter over quarter across the covered concalls; each carries the verbatim quote. “No revisions” can also mean guidance too vague to pin down — see the posture chip above. Not investment advice.