HFCL Ltd

HFCL Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

HFCL Ltd

₹ 81.9 -3.32%
17 Jun - close price
hfcl.com BSE: 500183 NSE: HFCL
About

HFCL Ltd (Himachal Futuristic Communications Limited) is a diverse telecom infrastructure enabler with active interest spanning telecom infrastructure development, system integration, and manufacture and supply of high end telecom equipment, Optical Fiber and Optic Fiber Cable (OFC).[1]

Key Points

Business Segments
1) Telecom Products (57% in 9M FY25 vs 43% in FY22): [1] [2]
a) Telecom and Networking Products: The company offers UBR radios, Wi-Fi 5/6 access points, AI-driven network management, home mesh routers, etc. It is a top manufacturer of Wi-Fi access points and UBR radios in India.
b) Optical Fiber Cables: It manufactures optical fibers, micro cables, ribbon cables, and IBR cables, holding the largest market share in OFC supplies. [3]
c) Defence: It is a prominent player in India's defence sector, offering products like electronic fuzes, thermal weapon sights, and surveillance radars.
d) Passive Connectivity Solutions: It supplies cable assemblies, high-density cabinets, and PLC splitters for high-bandwidth networks in data centers, LANs, and FTTx networks.
e) Aerospace and Automotive: It provides custom cable assemblies for the aerospace and automotive industries. [4]

The segment revenue grew 24% YoY in 9M FY25, driven by a strategic shift from project-based to product-based revenue, to facilitate lower working capital needs, faster realizations, and improved margins. [5]

Website BSE NSE
  • Market Cap ₹ 11,838 Cr.
  • Current Price ₹ 81.9
  • High / Low ₹ 171 / 71.5
  • Stock P/E 60.8
  • Book Value ₹ 27.5
  • Dividend Yield 0.24 %
  • ROCE 8.03 %
  • ROE 5.00 %
  • Face Value ₹ 1.00
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Pros

Cons

  • Stock is trading at 2.98 times its book value
  • Promoter holding has decreased over last quarter: -1.52%
  • The company has delivered a poor sales growth of 1.36% over past five years.
  • Company has a low return on equity of 7.47% over last 3 years.
  • Promoters have pledged 49.7% of their holding.
  • Dividend payout has been low at 9.17% of profits over last 3 years
  • Company has high debtors of 182 days.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Telecommunication Telecommunication Telecom - Services Telecom - Infrastructure

Part of BSE 500 BSE Teck Nifty 500 BSE SmallCap Nifty Smallcap 100

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025
1,066 951 1,119 1,002 1,323 880 1,002 954 1,238 1,066 1,012 961 757
970 859 968 879 1,223 785 888 855 1,052 900 864 816 800
Operating Profit 96 92 152 123 100 95 114 100 186 165 148 145 -43
OPM % 9% 10% 14% 12% 8% 11% 11% 10% 15% 16% 15% 15% -6%
33 14 -3 24 14 13 18 46 13 11 13 21 16
Interest 28 28 31 26 31 29 27 28 31 34 36 38 43
Depreciation 17 14 15 14 14 14 14 15 15 20 21 21 23
Profit before tax 83 63 102 107 70 66 90 103 153 123 104 107 -93
Tax % 25% 24% 26% 25% 27% 26% 25% 25% 25% 7% 28% 27% -22%
62 48 76 80 51 49 68 78 115 114 75 78 -73
EPS in Rs 0.45 0.35 0.55 0.58 0.37 0.35 0.47 0.55 0.80 0.79 0.52 0.54 -0.50
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
2,019 2,551 2,858 2,016 3,066 4,366 3,547 4,106 4,286 4,396 4,075 3,795
1,831 2,257 2,539 1,835 2,802 4,026 3,120 3,637 3,759 3,929 3,589 3,380
Operating Profit 188 294 320 181 264 340 427 469 528 466 486 415
OPM % 9% 12% 11% 9% 9% 8% 12% 11% 12% 11% 12% 11%
13 -28 -86 19 17 46 21 29 44 49 100 61
Interest 33 43 58 60 61 78 90 148 133 117 115 149
Depreciation 20 34 25 16 16 18 30 54 57 57 58 85
Profit before tax 148 190 150 124 204 291 328 296 382 342 412 241
Tax % 0% 0% 0% 0% 24% 37% 38% 25% 26% 25% 25% 19%
147 190 150 124 155 184 204 223 283 255 310 195
EPS in Rs 1.19 1.53 1.21 1.00 1.25 1.44 1.59 1.74 2.05 1.85 2.15 1.35
Dividend Payout % 0% 0% 0% 0% 5% 7% 0% 9% 9% 11% 9% 7%
Compounded Sales Growth
10 Years: 4%
5 Years: 1%
3 Years: -4%
TTM: -7%
Compounded Profit Growth
10 Years: -2%
5 Years: -1%
3 Years: -12%
TTM: -37%
Stock Price CAGR
10 Years: 21%
5 Years: 46%
3 Years: 12%
1 Year: -31%
Return on Equity
10 Years: 11%
5 Years: 9%
3 Years: 7%
Last Year: 5%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 124 124 124 124 124 127 128 128 137 138 144 144
Reserves 634 808 794 920 1,092 1,316 1,517 1,748 2,591 2,855 3,678 3,818
365 370 525 494 425 552 632 825 637 791 833 1,115
516 520 703 689 905 1,139 1,357 2,236 1,441 1,296 1,475 2,101
Total Liabilities 1,639 1,823 2,146 2,227 2,546 3,134 3,634 4,937 4,807 5,080 6,130 7,179
153 122 106 111 110 117 362 368 375 365 460 1,065
CWIP 1 0 1 1 10 84 31 27 86 243 437 157
Investments 365 296 51 65 66 71 80 65 85 103 231 267
1,120 1,405 1,988 2,050 2,360 2,862 3,161 4,477 4,261 4,369 5,002 5,689
Total Assets 1,639 1,823 2,146 2,227 2,546 3,134 3,634 4,937 4,807 5,080 6,130 7,179

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
101 119 -80 138 183 -16 208 82 140 184 -111 431
-105 -44 100 -38 -15 -119 -163 -116 -388 -10 -410 -505
-28 -61 -34 -103 -121 93 -39 40 242 -127 480 111
Net Cash Flow -32 14 -14 -3 47 -42 6 7 -5 47 -40 37

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 46 53 143 208 141 120 159 225 154 148 191 182
Inventory Days 376 260 185 139 51 33 87 49 78 90 117 94
Days Payable 424 304 281 251 146 129 249 266 178 131 159 147
Cash Conversion Cycle -1 9 47 96 45 25 -3 8 53 107 149 130
Working Capital Days 90 110 153 180 115 103 140 125 136 184 230 261
ROCE % 17% 23% 23% 12% 17% 20% 20% 18% 17% 13% 12% 8%

Shareholding Pattern

Numbers in percentages

Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025
39.20% 39.20% 39.24% 39.24% 39.24% 37.84% 37.84% 37.69% 37.63% 36.24% 35.90% 34.37%
6.81% 6.72% 6.52% 6.77% 7.53% 8.35% 8.18% 7.66% 7.02% 6.68% 6.70% 6.97%
2.03% 2.58% 2.64% 2.78% 2.95% 4.64% 4.55% 5.68% 7.39% 8.69% 10.96% 13.26%
51.78% 51.36% 51.49% 51.12% 50.19% 49.09% 49.37% 48.91% 47.91% 48.33% 46.40% 45.36%
0.18% 0.13% 0.12% 0.10% 0.09% 0.08% 0.08% 0.06% 0.06% 0.05% 0.04% 0.04%
No. of Shareholders 6,36,0736,16,5626,14,9485,90,6925,85,6475,89,4826,51,7867,29,5367,70,7917,73,2768,20,6398,40,219

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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