India Hindustan Ratings and Research (Ind-Ra) has projected mid-to-high single-digit revenue growth with stable margins for engineering, procurement, and construction (EPC) companies in FY26. The EPC sector, across 22 listed entities, posted a 5% YoY revenue growth in 1QFY26, marking the fifth consecutive quarter of single-digit growth. EBITDA margins stood at 10.6%, 30 bps lower YoY but slightly better than the 10.4%-10.5% range recorded in 2Q-4QFY25. Segment-wise performance was mixed, with highways reporting revenue growth of 11% YoY, T&D/Power up 29% YoY, Metros & Heavy Civil reporting improved growth and margins.
Buildings being impacted by unseasonal rains in May and labour churn, and Jal Jeevan Mission continuing to underperform The EPC sector’s guidance suggests aggregate revenue growth of 12.7% yoy, around 100bp lower than the earlier guidance. Margin recovery hopes have also receded, with aggregate guidance suggesting a 20bp improvement at 10.8% in FY26 versus the past quarter’s assumption of 11%. The order book grew 9% YoY in 1QFY26, faster than revenue growth, leading to slightly a better order book cover of 2.7x vs 2.5x yoy. The roads sector witnessed an 11% yoy decline in revenue in 1QFY26, fifth consecutive quarter of decline.
The T&D/power sector was the strongest segment, growing 29% YoY, aided by robust order books and continued resilient global activity amid a structural increase in power. The mining industry is experiencing a major shift with the integration of digital technologies designed to enhance safety, efficiency, and sustainability. A significant step in this transformation is the recent collaboration between Hindustan Zinc, India’s largest zinc producer and a Vedanta Group company, and Epiroc, a global leader in mining equipment and digital solutions. This partnership is not just about technology adoption; it represents a strategic alignment towards safer workplaces, sustainable mining operations, and setting new benchmarks for industrial innovation.
Understanding the Importance of Digital Safety in Mining
By investing in advanced safety mechanisms, Hindustan Zinc is reaffirming its position as a pioneer in India’s mining sector and demonstrating how collaboration with global technology leaders can bring impactful change Mining remains one of the most hazardous industries due to challenges such as underground collapses, equipment-related risks, and exposure to toxic gases. Despite continuous safety training and operational protocols, accidents still occur when hazards are not detected in time. This is where digital technologies step in. By implementing real-time monitoring systems, predictive data analytics, and AI-driven risk assessment, companies can shift from reactive safety approaches to proactive ones.
Hindustan Zinc’s partnership with Epiroc aims to leverage these capabilities to ensure that miners are protected, hazards are mitigated before they escalate, and overall productivity is enhanced without compromising human lives. (NHAI) Epiroc is renowned globally for its portfolio of mining solutions, which includes autonomous drilling equipment, remote monitoring tools, and AI-based predictive maintenance systems. The company has a track record of enabling safer and smarter operations for leading mining companies worldwide. Through this collaboration, Hindustan Zinc will benefit from the deployment of technologies that provide real-time visibility into mining conditions, automated machinery to reduce human exposure to hazardous zones, and advanced communication systems.
That improve response times during emergencies. This synergy of local expertise and global innovation is set to redefine operational standards in Indian mining One of the key features of this collaboration is the implementation of Internet of Things (IoT) enabled systems that allow for real-time tracking of worker locations and machine performance. For instance, smart sensors installed in underground mines can detect changes in air quality, equipment vibration levels, or ground stability, and instantly relay this data to centralized monitoring units. This early detection not only reduces accident risks but also lowers maintenance costs by preventing unexpected equipment failures. Furthermore, the integration of autonomous vehicles and AI-driven machinery ensures that dangerous tasks are performed with minimal human involvement.
Supporting Sustainability and ESG Commitments
Hindustan Zinc has consistently highlighted sustainability as a core part of its business strategy. Its focus on ESG (Environmental, Social, and Governance) goals includes reducing environmental footprints, improving workplace safety, and achieving Net Zero carbon emissions. The collaboration with Epiroc aligns perfectly with these objectives by creating safer workplaces and reducing operational inefficiencies that indirectly contribute to higher energy use and emissions. Safer mining environments also foster social well-being, as workers and communities benefit from reduced risks. This partnership highlights how technological innovation can become a driver for both safety and sustainability in heavy industries.
India’s mining industry plays a crucial role in supporting infrastructure development, manufacturing, and energy production. However, it has often been criticized for lagging behind global peers in adopting the latest safety technologies. Hindustan Zinc’s partnership with Epiroc can act as a catalyst for change, encouraging other companies to invest in similar digital transformations. The adoption of AI, machine learning, and automation not only improves safety but also boosts productivity, helping India strengthen its competitiveness in the global mining market. This partnership sets a strong precedent that mining companies must balance economic growth with worker safety and environmental responsibility.
Similar to how the RVNL leadership transition emphasized modernization and efficiency in railway infrastructure, this collaboration demonstrates the mining sector’s willingness to embrace innovation for long-term growth Looking ahead, the partnership is expected to scale further with the adoption of next-generation technologies such as digital twins for mining operations, advanced robotics for exploration, and blockchain-based supply chain traceability. These innovations will provide holistic insights into every stage of the mining process, from exploration to final product delivery. Moreover, the integration of big data analytics will help in developing predictive models that enhance operational decision-making and reduce uncertainty.
This future-ready approach ensures that Hindustan Zinc continues to lead the sector not only in production but also in safety and technological adoption Global examples suggest that such digital ecosystems lead to long-term benefits, such as reduced accident rates, improved workforce morale, and cost savings. By embedding safety into the core of its operations through digital tools, Hindustan Zinc (Vedanta Group) is shaping a resilient and responsible future for mining in India. The collaboration between Hindustan Zinc and Epiroc represents more than just a technological upgrade; it is a strategic move that underlines the importance of worker safety, sustainability, and innovation in mining. By embracing digital technologies, the company is setting a powerful example for the Indian mining sector.
Q1 What is the partnership between Hindustan Zinc and Epiroc about?
This collaboration focuses on integrating digital safety technologies to improve mine safety and efficiency.
Q2 How will digital safety technologies benefit mining operations?
They enhance worker protection, enable predictive monitoring, and reduce operational risks.
Q3 Which technologies are being introduced through this partnership?
Solutions include real-time monitoring systems, autonomous equipment, and AI-driven safety tools.
Q4 Why is digital safety important in the mining industry?
Mining involves hazardous environments, and advanced safety systems significantly reduce accidents.
Q5 How does this initiative align with Hindustan Zinc’s sustainability goals?
It supports safer operations, reduced downtime, and aligns with ESG commitments for sustainable mining.
