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    Communication Equipment
HFCL Limited

HFCL Limited

HFCL.NS
HFCL LimitedIN flagNational Stock Exchange of India
226.04
INR
+1.09
- -
345.90BMarket Cap
HFCL Limited
HFCL.NS
(National Stock Exchange of India)

Recent

price

226.04

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
0.87
2.4
4.89
16.29
20.6
20.82
17.19
26
38.08
29.87
34.39
35.89
34.33
31.5
28.18
33.82
25.99
Revenue per Share
0.38
-0.66
0.41
3.79
2.57
1.26
0.99
1.35
1.77
1.77
1.86
2.38
2.18
2.33
1.23
2.13
0.23
Basic EPS, GAAP
0.26
-0.26
0.12
0.32
0.9
-0.47
0.81
1.34
-1.15
0.03
0.3
0.17
-0.77
-3.21
-0.09
-4.94
- -
Free Cash Flow per Basic Share
- -
- -
- -
- -
0.16
0.02
- -
- -
0.07
0.12
- -
0.14
0.18
0.2
0.2
0.1
- -
Dividend per Share
-3.21
-3.31
-2.46
1.22
2.24
3.54
5.44
6.84
8.02
9.43
10.31
12.54
13.95
15.8
16.54
1.05
- -
Book Value per Share
0.35
-0.31
0.18
3.85
4.2
5.95
7.55
9.02
11.06
12.48
14.44
20.68
21.05
25.02
24.35
29.2
- -
Tangible Book Value per Share
992
1,089
1,239
1,239
1,239
1,239
1,239
1,239
1,243
1,284
1,284
1,315
1,379
1,415
1,442
1,464
1,453
Basic Weighted Avg Shares
864
2,610
6,065
20,195
25,531
25,801
21,307
32,219
47,313
38,349
44,175
47,180
47,348
44,576
40,645
49,493
37,773
Sales/Revenue/Turnover
110.08
8.62
13.37
15.04
14.67
11.78
8.26
7.71
8.58
13.12
10.92
12.75
11.46
11.53
8.45
12.21
5
Operating Margin (%)
910
154
170
201
342
262
218
232
270
428
682
782
830
818
1,055
1,573
1,136
Depreciation Expense
402
-668
564
4,750
3,239
1,556
1,229
1,679
2,199
2,272
2,390
3,131
3,010
3,298
1,774
3,117
339
Net Income, GAAP
0.05
- -
0.38
0.67
0.01
0.01
0.4
22.1
31.55
33.77
26.9
26.29
26.22
25.66
20.01
22.97
37.27
Effective Tax Rate (%)
46.54
-25.59
9.29
23.52
12.69
6.03
5.77
5.21
4.65
5.93
5.41
6.64
6.36
7.4
4.36
6.3
0.9
Profit Margin (%)
-1,181
-1,451
-1,307
2,272
6,327
9,380
8,823
8,778
9,649
11,504
11,632
16,415
19,400
23,311
24,828
33,364
- -
Working Capital
2,298
2,169
2,024
1,829
1,623
2,512
2,676
1,413
1,344
2,179
2,692
1,406
1,166
1,783
3,996
4,087
- -
LT Debt
1,896
1,229
1,792
6,344
6,779
8,401
9,656
11,566
14,317
16,684
19,235
28,184
31,441
39,998
41,193
49,486
- -
Total Equity
31.27
- -
15.77
40.79
38.4
26.44
12.57
12.69
15.48
15.08
13.21
13.44
10.34
8.41
5.18
7.43
- -
Return on Invested Capital (%)
59.39
- -
97.39
145.3
58.82
24.37
15.32
16.17
17.41
15.23
14.34
15.04
12.91
12.3
9.13
15.87
30.6
Return on Capital (%)
- -
- -
- -
- -
148.73
43.4
22.09
22.07
23.85
20.6
18.85
21.07
16.85
15.86
7.68
24.55
- -
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'25
Mar'25
Jun'26
ST Debt
- -
11,223
- -
LT Borrowings
- -
3,899
- -
LT Finance Leases
- -
97
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
- -
1,442
- -
Market Capitalization
162,878
114,547
125,753

Working Capital

FRC

•

in mil. unless spec.
Dec'25
Mar'25
Jun'26
Total Current Assets
- -
53,707
- -
Cash, Cash Equivalents & STI
- -
1,694
- -
Accounts Receivable, Net
- -
18,917
- -
Inventories
- -
8,988
- -
Total Current Liabilities
- -
28,879
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
11,223
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
19.88%
21.69%
20.13%
Free Cash Flow
525.3%
997.41%
5,376.46%
Net Income, GAAP
12.13%
13.24%
75.72%
Sales/Revenue/Turnover
9.11%
2.85%
21.77%
Total Cash Common Dividend
- -
4.1%
-50%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
9,952
11,115
10,323
13,186
44,576
2025
11,582
10,936
10,120
8,007
40,645
2026
8,710
12,108
18,241
- -
49,493

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.49
0.5
0.58
- -
2.33
2025
0.77
0.51
0.51
-0.56
1.23
2026
-0.22
0.67
1.21
- -
2.13

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.2
2025
- -
- -
- -
- -
0.2
2026
- -
- -
- -
- -
0.1
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Business
HFCL Limited (HFCL.NS) manufactures and supplies telecommunication equipment and solutions, including optical fiber cables, fiber to the home (FTTH) products, telecom systems and solutions, and defense electronics. The company offers a comprehensive portfolio of products such as high-performance optical fiber cables for terrestrial and submarine applications; FTTH active and passive products including optical line terminals, splitters, and ONTs; radio access network (RAN) equipment like 4G/5G base stations and small cells; and turnkey solutions for defense communication systems, electronic warfare, and radar technologies. HFCL also provides network management systems, power solutions, and managed services for telecom operators, enterprises, and government sectors. Founded in 1987 and headquartered in New Delhi, India, HFCL operates primarily in the telecommunications and defense industries, serving telecom service providers, data centers, railways, oil refineries, and defense forces as key customer segments. The company's geographic footprint spans India, with exports to over 30 countries across Asia, Africa, Europe, and the Americas through subsidiaries like HFCL Brugg Cables Limited (a joint venture for advanced cabling) and international offices. It focuses on segments including broadband connectivity, 5G infrastructure, smart cities, and military communications. In recent developments, HFCL secured major defense contracts in 2024-2025 for indigenous communication systems under India's Atmanirbhar Bharat initiative, expanded its 5G product portfolio with new massive MIMO radios, and formed strategic partnerships for submarine cable projects in Southeast Asia. The company raised funds through qualified institutional placement in late 2024 to fuel capacity expansion, acquired capabilities in avionics through a subsidiary, and launched FTTH 10G solutions targeting rural broadband markets. These moves support HFCL's shift toward higher-margin defense and next-gen telecom offerings amid global 5G rollouts.