HFCL

NSE: HFCLBSE: 500183
Compare with peers
₹ 243.40▼ 6.71 (−2.68%)28 Oct, 03:29 pm IST
Market cap
₹ 36,803 Cr.
P/E
42.4x
P/B
7.87x
52-week range
59.82 – 282.25
ROE
7%
ROCE
11%
Dividend yield
0.1%
Debt / equity
0.39
Sector
Telecom - Services
Industry
Telecom - Infrastructure
Listed on
NSE, BSE

About

HFCL Limited is an India-based global technology company. The Company delivers communication and networking products and solutions globally across the telecom, defense, and railways sectors. Its business segments include manufacturing of telecom products, executing turnkey contracts and providing services relating thereto. It offers a range of products and solutions for the telecom industry, which include open‑standards‑based wired and wireless access solutions are customizable to diverse network needs, enabling seamless end‑to‑end connectivity for small, medium, and large scale deployments, globally scalable. In Defence includes designs and delivers customized products and solutions for defence services, institutions, and projects of national security significance.

Quick check

The five things to look at first. Open one for more.

HFCL against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.

  • Valuation (P/E)42.4 against a typical 13.8: pricier than most peers (1st = cheapest).9th of 10
  • Sales growth+143.7% against a typical +14.3% from a year earlier.2nd of 8
  • Profit growth+447.2% against a typical +28.6% from a year earlier.1st of 7
  • Share price, 3 months+29.2% against a typical −11.5%.1st of 10
  • Size₹ 36,803.3 Cr. market value against a typical ₹ 2,123.2 Cr. (1st = largest).3rd of 10

Latest announcements

Exchange filings and their impact on the company.

  • 26 Oct 2026Analysts/Institutional Investor Meet/Con. Call UpdatesHigh impactVery positivePrice +2.2% on 27 Oct
    HFCL posted record Q2 and lifted FY27 revenue growth guidance to at least 80% on a Rs 28,900 cr order book.

    HFCL reported its best-ever quarter in Q2 FY27 with revenue of Rs 2,541.79 crore, up 143.6% year-on-year, EBITDA of Rs 658 crore at 25.89% margin, and profit after tax of Rs 394.22 crore, up 448%. Management raised FY27 revenue growth guidance to at least 80% over FY26 and disclosed a Rs 28,900 crore order book, including Rs 18,500 crore for optical fibre cable and data-centre interconnect. It also outlined Rs 1,800 crore capex for fibre, cable and preform expansion and a defence revenue aspiration of Rs 500-600 crore this year rising toward Rs 2,000 crore next year.

    Filing
  • 19 Oct 2026Outcome of Board MeetingHigh impactVery positivePrice +5% that day
    Best-ever Q2 with 5x profit and 80%+ FY27 growth guidance on Rs 28,911 cr order book.

    HFCL reported its best-ever quarter in Q2 FY27 with consolidated revenue of Rs 2,541.79 crore, up 143.6% year-on-year, EBITDA of Rs 658 crore at 25.89% margin, and PAT of Rs 394.22 crore, up 448% year-on-year. H1 revenue doubled to Rs 4,456.77 crore with PAT of Rs 639.86 crore. The company guides for at least 80% revenue growth in FY27 over FY26, backed by an order book of Rs 28,911 crore with 6-7 year visibility, a planned Rs 1,800 crore investment in fibre, cable and preform capacity, and a Rs 500 crore defence revenue aspiration.

    Filing

Credit ratings

Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates

Adequate safety

Rated A by CARE
A
DefaultRiskyModerateSafeVery safe
  • No warnings from the agency.
AgencyCurrent ratingOutlookAs of
CARECARE APositive9 Jul 2026
Credit rating actions
RatingDetails
9 Jul 2026
▲ Upgrade1 notch
CARE A- → CARE A—CARE₹ 4,075.95 Cr.
8 Sep 2025
▼ Downgrade
CARE A-—CARE₹ 3,642.82 Cr.

Board meetings

Results dates and other board meetings. Full calendar

Details
19 Oct 2026Financial ResultsTo consider and approve the financial results for the period ended September 30, 2026
22 Jul 2026Financial ResultsTo consider and approve the financial results for the period ended Jun 30, 2026
30 Apr 2026DividendTo consider dividend
25 Mar 2026Fund RaisingAdvance Intimation of Board Meeting - Consideration of Issue of Warrants on Preferential Basis to the Promoter(s) / Promoter Group entity(ies)
3 Feb 2026Financial ResultsTo consider and approve the financial results for the period ended December 31, 2025
17 Oct 2025Financial ResultsTo consider and approve the financial results for the period ended September 30, 2025

Share price

1Y change +216.72%
0 of 2 filing days came with a big price move
Volume (shares)Price (₹)
Close price

Financials

Consolidated figures in ₹ crore.

Quarterly results
₹ Cr.Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales1,0321,3261,1581,0941,0128018711,0431,2111,8241,9152,542
Expenses9161,1309849358608388438539831,5101,5011,912
Operating Profit117196175158152−3728190228314414630
OPM %11%15%15%14%15%−4.6%3.3%18%19%17%22%25%
Other Income471410152114151317223127
Interest374042454751566163636265
Depreciation192024252630323644455154
Profit before tax108149119102100−105−45106138228332539
Tax %24%27%7%28%28%−21%−34%32%26%19%26%27%
Net Profit821091117373−83−2972102184246394
EPS in Rs0.580.760.770.510.51−0.56−0.220.470.641.171.492.37

Growth and returns

Compounded yearly rates over each period.

Compounded Sales Growth
10 Years
6%
5 Years
2%
3 Years
1%
TTM
101%
Compounded Profit Growth
10 Years
3%
5 Years
5%
3 Years
1%
TTM
3,016%
Stock Price CAGR
10 Years
32%
5 Years
29%
3 Years
57%
TTM
—
Return on Equity
10 Years
10%
5 Years
8%
3 Years
7%
TTM
—

Shareholding

Latest: Sep 2026.

Promoters
28.29%
−1.73 pts in a year
FIIs
17.24%
+9.76 pts in a year
DIIs
10.39%
−3.18 pts in a year
Public
44.06%
−4.83 pts in a year
Others
0.01%
−0.03 pts in a year

P/E and EPS over time

Daily P/E and trailing 12-month EPS. EPS updates with each result.

P/E 42.4xEPS (12 months) ₹ 5.67Median P/E 25.8x
P/E (times)EPS (₹)

Peers

Listed companies in the same business.

Peer comparison
HFCL₹ 243.40₹ 36,803 Cr.42.4x7.9x7%—
ITI₹ 215.45₹ 20,719 Cr.—14.4x16.6%13.4%
Tejas Networks₹ 410.00₹ 7,297 Cr.—3.3x−26.8%−82.4%
Avantel₹ 136.55₹ 3,606 Cr.308.2x13.4x—7.1%
Vindhya Telelinks₹ 2,478.30₹ 2,894 Cr.9.6x0.5x5.3%6.1%
Paramount Communications₹ 57.59₹ 1,885 Cr.32.8x2.5x8%3.1%

Management

Manoj Baid
President, Compliance Officer, Company Secretary
Vijay Raj Jain
Chief Financial Officer
Mahendra Nahata
Managing Director, Executive Director

Prices are delayed and for information only. Nothing on this page is investment advice.