HFCL LIMITED
₹231.30-₹12.15 (-5.0%)
Last close · Data as of Oct 30, 2026
- Market cap
- ₹9,582 Cr
- P/E
- 383.0x
- EV / EBITDA
- 16.1x
- Revenue
- ₹3,795 Cr
- Net margin
- 7.6%
- ROCE
- 10.4%
Price chart
Technical chartScreen technicals →+210.0% over the last year
Daily closes.
Go deeper
Technical chart: candles, 9 moving averages, RSI, MACD and drawing tools
Performance
Price change over each period, before dividends.
- 1M
- +2.1%
- 3M
- +25.0%
- 6M
- +99.3%
- 1Y
- +210.0%
- 5Y
- +204.1%
52-week range
Day change -₹12.15 (-5.0%) from ₹243 to ₹231 · Last close Oct 30, 2026
Best weekday to invest, historically
The same weekly amount in HFCL, bought on each weekday since 2021.
AI Summary
Indian StockStrengths1
- Strong short-term liquidity — current ratio of 3.55x
Concerns1
- Low return on equity of 8.1%
Rule-based from financial data. Not advice.
About the company
HFCL Limited manufactures and sells telecom products in India and internationally.
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HFCL Limited manufactures and sells telecom products in India and internationally. The company offers optical fiber cables, such as underground, aerial, microduct, FTTH, and micromodule cables; telecommunication products, including unlicensed band backhaul radios, Wi-Fi access points, routers, managed switches, antennas, network management solutions, and 5g product portfolio; defence product comprising electronic fuzes, electro optics, high capacity radio relay, software defined radios, and ground surveillance radars; and passive networking components, such as high density cabinets, joint closures, optical splitters, aerial cable accessories, fiber optic cable assemblies, and copper cable assemblies. It also provides network solutions for public telecommunications, defence and railway communications, and system integration services. The company was formerly known as Himachal Futuristic Communications Limited and changed its name to HFCL Limited in October 2019. HFCL Limited was incorporated in 1987 and is based in New Delhi, India.
- Sector
- Technology
- Shares outstanding
- 153 Cr shares
- ISIN
- INE548A01028
- BSE code
- 500183
Key statistics
Screen fundamentals →Valuation, profitability, growth and solvency at the latest close; hover a label for its meaning.
Valuation
- Market cap
- ₹9,582 Cr
- P/E
- 383.0x
- P/B
- 2.3x
- EV / EBITDA
- 16.1x
- EV / Sales
- 2.3x
- P/S
- 2.4x
- Earnings yield
- 0.3%
- 52-week high
- ₹271.35
- 52-week low
- ₹61.02
Profitability
- Operating margin
- 11.9%
- Net margin
- 7.6%
- EBITDA margin
- 14.4%
- ROE
- 8.1%
- ROCE
- 10.4%
- ROA
- 5.1%
- Dividend payout
- 9.0%
- Tax rate
- 25.0%
- Other income, % of PBT
- 24.3%
Growth
- RevenueLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹3,795 Cr
- Revenue growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -6.9%
- Revenue CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 2.8%
- EBITDALatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹586 Cr
- EBITDA growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 13.8%
- Net profit growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -37.1%
- Net profit CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 8.7%
- Cash from operationsLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -₹111 Cr
- CFO growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -160.3%
- Free cash flowLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹37.0 Cr
- Asset growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 20.7%
Solvency and efficiency
- Current ratio
- 3.55
- Debt / Equity
- 0.22
- Debt / Assets
- 0.14
- Debt / EBITDA
- 1.42
- Interest coverage
- 4.23
- Financial leverage
- 1.60
- CFO / Net profit
- -0.36
- Cash / Market cap
- 52.2%
- Cash per share
- ₹32.73
- Asset turnover
- 0.66
- Fixed asset turnover
- 8.86
- Capital intensity
- 0.11
- Debtor days
- 191 days
- Inventory turnover
- 3.12
- Cash conversion cycle
- 149 days
Where the revenue went
Of every ₹100 of FY2025 revenue, ₹5 was left as net profit.
| From | To | Amount |
|---|---|---|
| Sales | Expenses | ₹3,380 Cr |
| Sales | Operating profit | ₹415 Cr |
| Operating profit | Interest | ₹149 Cr |
| Operating profit | Depreciation | ₹85 Cr |
| Operating profit | Profit before tax | ₹181 Cr |
| Other income | Profit before tax | ₹61 Cr |
| Profit before tax | Tax and other | ₹46 Cr |
| Profit before tax | Net profit | ₹195 Cr |
Revenue and net profit
Revenue fell 6.9% in FY2025; net profit is the dashed line.
| Date | Revenue | Net profit |
|---|---|---|
| FY2021 | ₹4,106 Cr | ₹223 Cr |
| FY2022 | ₹4,286 Cr | ₹283 Cr |
| FY2023 | ₹4,396 Cr | ₹255 Cr |
| FY2024 | ₹4,075 Cr | ₹310 Cr |
| FY2025 | ₹3,795 Cr | ₹195 Cr |
Cash flows
FY2025: ₹431 Cr from operations, -₹74.0 Cr free after investment (dashed).
| Date | Operating cash flow | Free cash flow |
|---|---|---|
| FY2021 | ₹82 Cr | -₹34 Cr |
| FY2022 | ₹140 Cr | -₹248 Cr |
| FY2023 | ₹184 Cr | ₹174 Cr |
| FY2024 | -₹111 Cr | -₹521 Cr |
| FY2025 | ₹431 Cr | -₹74 Cr |
Growth
Latest fiscal year FY2025 (ending March): each figure with its change over the year before.
- Revenue
- ₹3,795 Cr-6.9%1Y
- Net profit
- ₹195 Cr-37.1%1Y
- Cash from operations
- ₹431 Cr
- Free cash flow
- -₹74 Cr
- Revenue CAGR, 5Y
- 2.8%
- EBITDA CAGR, 5Y
- 5.5%
- Net profit CAGR, 5Y
- 8.7%
| Year | Revenue | Operating income | EBITDA | Net profit | CFO | FCF | ROE | Revenue growth 1Y | Net profit growth 1Y |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | ₹3,795 Cr | ₹415 Cr | — | ₹195 Cr | ₹431 Cr | -₹74 Cr | 4.9% | -6.9% | -37.1% |
Monthly returns
Month-by-month returns of HFCL across the years, with the seasonal pattern.
Balance sheet
What the company owns and owes at the end of FY2025.
| Line | FY2025 |
|---|---|
| Liabilities and equity | ₹7,179 Cr |
| Equity capital | ₹144 Cr |
| Reserves | ₹3,818 Cr |
| Borrowings | ₹1,278 Cr |
| Other liabilities | ₹1,939 Cr |
| Assets | ₹7,179 Cr |
| Fixed assets | ₹664 Cr |
| Capital work in progress | ₹559 Cr |
| Investments | ₹267 Cr |
| Other assets | ₹5,689 Cr |
Market cap against peers
8 peers: same sector group, nearest by size.
P/E against peers
HFCL trades at 383.0x earnings against a peer median of 52.1x (a 635% premium).
Not shown (no positive earnings and no EV / Sales): Tata Teleservices (Maharashtra) Ltd.
Peer comparison
Same-sector peers by market cap, with the median.
| Company | Market cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|
| HFCL LIMITEDHFCLthis companyP/E ↑ premium | ₹9,582 Cr | 383.0x | 2.3x | 8.1% | 16.1x |
| WAAREE RENEWABLE TECHNOLOGIES LIMITEDWAAREERTL | ₹10,499 Cr | 29.6x | 15.9x | 58.5% | 49.4x |
| Lumax Auto Technologies Ltd.LUMAXTECH | ₹10,225 Cr | 109.0x | 12.0x | 13.8% | 59.6x |
| Sonata Software Ltd.SONATSOFTW | ₹9,856 Cr | 51.0x | 12.3x | 50.8% | 24.0x |
| Nazara Technologies LimitedNAZARA | ₹9,793 Cr | 370.0x | 4.4x | -6.1% | -109.2x |
| OLECTRA GREENTECH LIMITEDOLECTRA | ₹9,271 Cr | 63.6x | 8.2x | 8.1% | 54.1x |
| Tata Teleservices (Maharashtra) Ltd.TTML | ₹9,130 Cr | — | -0.5x | 6.4% | 53.6x |
| BLACK BOX LIMITEDBBOX | ₹8,803 Cr | 402.0x | 18.8x | -4.8% | 628.6x |
| C.E. Info Systems LimitedMAPMYINDIA | ₹8,564 Cr | 57.0x | 10.0x | 20.9% | 45.5x |
| Peer median | — | 52.1x | 7.8x | 14.5% | 34.2x |
Year-to-date ROI
HFCL since 1 January, against earlier years.
Historical volatility
HFCL's day-to-day swings over 30, 60 and 180 days.
Financial statements
Income statement, balance sheet and cash flow as reported, in ₹ crore, grouped into plain-language lines.
Figures in ₹ crore as reported, fiscal years ending March, newest first; the trailing twelve months (TTM) last.
Operating margin by fiscal year
| Date | Operating margin |
|---|---|
| FY2021 | 11.0% |
| FY2022 | 12.0% |
| FY2023 | 11.0% |
| FY2024 | 12.0% |
| FY2025 | 11.0% |
| Line | FY2025 |
|---|---|
| RevenueSales | ₹3,795 Cr |
| Costs | |
| Interest | ₹149 Cr |
| Expenses | ₹3,380 Cr |
| Operating profitOperating Profit | ₹415 Cr |
| Other income and charges | |
| Profit before tax | ₹241 Cr |
| Tax | |
| Net profitNet Profit | ₹195 Cr |
| Per share |
| Line | FY2025 |
|---|---|
| Liabilities and equityTotal Liabilities | ₹7,179 Cr |
| Equity capitalEquity Capital | ₹144 Cr |
| Reserves | ₹3,818 Cr |
| Borrowings | ₹1,278 Cr |
| Other liabilitiesOther Liabilities | ₹1,939 Cr |
| AssetsTotal Assets | ₹7,179 Cr |
| Fixed assetsFixed Assets | ₹664 Cr |
| Capital work in progressCWIP | ₹559 Cr |
| Investments | ₹267 Cr |
| Other assetsOther Assets | ₹5,689 Cr |
| Line | FY2025 |
|---|---|
| Operating cash flowCash from Operating Activity | ₹431 Cr |
| Investing cash flowCash from Investing Activity | -₹505 Cr |
| Financing cash flowCash from Financing Activity | ₹111 Cr |
| Change in cashNet Cash Flow | ₹37 Cr |
Learn while you research
Academy chapters picked for HFCL LIMITED and the metrics on this page.
- 01 Taxes on Investments (India)LTCG, STCG, dividend tax, what every Indian investor needs.6 min read
- 02 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read
- 03 Valuation Multiples ExplainedThis stock trades at a P/E of 383.0, learn when high multiples are justified.6 min read
- 04 Stock Market RisksSmall caps carry concentrated, idiosyncratic risk, learn to manage it.6 min read
- 05 Growth InvestingTech & communications often trade on growth, learn the framework.7 min read
- 06 Essential Stock RatiosP/E, P/B, EV/EBITDA, what they mean and when to use each.7 min read