HFCL Ltd

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

HFCL Ltd

₹ 91.7 -0.27%
10 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 ₹ 13,232 Cr.
  • Current Price ₹ 91.7
  • High / Low ₹ 171 / 71.5
  • Stock P/E 76.4
  • Book Value ₹ 28.3
  • Dividend Yield 0.22 %
  • ROCE 7.67 %
  • ROE 4.31 %
  • Face Value ₹ 1.00
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Pros

Cons

  • Stock is trading at 3.24 times its book value
  • Promoter holding has decreased over last quarter: -1.52%
  • The company has delivered a poor sales growth of 1.15% over past five years.
  • Company has a low return on equity of 7.66% over last 3 years.
  • Promoters have pledged 49.7% of their holding.
  • Dividend payout has been low at 8.67% of profits over last 3 years
  • Company has high debtors of 170 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

Consolidated Figures in Rs. Crores / View Standalone

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
1,183 1,051 1,173 1,086 1,433 995 1,111 1,032 1,326 1,158 1,094 1,012 801
1,059 935 995 917 1,279 849 979 916 1,130 984 935 860 838
Operating Profit 124 116 179 169 154 146 133 117 196 175 158 152 -37
OPM % 10% 11% 15% 16% 11% 15% 12% 11% 15% 15% 14% 15% -5%
30 13 -4 25 14 13 18 47 14 10 15 21 14
Interest 38 38 39 37 38 36 35 37 40 42 45 47 51
Depreciation 23 20 21 20 21 21 21 19 20 24 25 26 30
Profit before tax 93 71 114 137 109 103 94 108 149 119 102 100 -105
Tax % 27% 25% 26% 26% 28% 26% 25% 24% 27% 7% 28% 28% -21%
68 53 84 102 79 76 70 82 109 111 73 73 -83
EPS in Rs 0.47 0.37 0.59 0.70 0.52 0.49 0.49 0.58 0.76 0.77 0.51 0.51 -0.56
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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 2,553 2,872 2,131 3,227 4,738 3,839 4,423 4,727 4,743 4,465 4,065
1,864 2,272 2,600 1,944 2,944 4,320 3,346 3,873 4,077 4,125 3,884 3,616
Operating Profit 156 281 273 187 283 418 493 550 650 619 582 449
OPM % 8% 11% 10% 9% 9% 9% 13% 12% 14% 13% 13% 11%
385 110 -29 21 24 40 22 31 37 47 102 58
Interest 44 44 62 62 64 92 115 175 166 152 147 185
Depreciation 20 34 26 22 23 27 42 69 78 83 82 106
Profit before tax 476 312 156 124 220 339 358 337 442 431 454 217
Tax % 1% 0% 0% 0% 22% 32% 34% 27% 26% 26% 26% 20%
475 324 156 124 172 232 237 246 326 318 338 173
EPS in Rs 3.83 2.61 1.26 0.99 1.35 1.73 1.77 1.86 2.27 2.18 2.29 1.23
Dividend Payout % 0% 0% 0% 0% 4% 6% 0% 8% 8% 9% 9% 8%
Compounded Sales Growth
10 Years: 5%
5 Years: 1%
3 Years: -5%
TTM: -9%
Compounded Profit Growth
10 Years: -7%
5 Years: -5%
3 Years: -18%
TTM: -47%
Stock Price CAGR
10 Years: 23%
5 Years: 47%
3 Years: 13%
1 Year: -7%
Return on Equity
10 Years: 12%
5 Years: 9%
3 Years: 8%
Last Year: 4%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 430 753 716 840 1,055 1,314 1,540 1,788 2,661 2,970 3,812 3,935
401 398 544 539 469 590 734 942 783 936 991 1,360
717 572 791 773 941 1,262 1,427 2,358 1,590 1,429 1,540 2,107
Total Liabilities 1,672 1,847 2,175 2,275 2,588 3,294 3,829 5,216 5,171 5,473 6,487 7,546
230 199 175 188 196 238 504 508 528 548 652 1,253
CWIP 1 4 1 2 10 86 34 36 108 268 469 200
Investments 313 272 57 50 55 60 58 41 55 70 194 158
1,128 1,373 1,943 2,035 2,327 2,911 3,233 4,631 4,480 4,586 5,172 5,935
Total Assets 1,672 1,847 2,175 2,275 2,588 3,294 3,829 5,216 5,171 5,473 6,487 7,546

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
86 129 0 136 207 34 172 145 205 235 -45 396
133 -45 37 -25 -30 -150 -167 -165 -458 -44 -449 -518
-243 -74 -55 -114 -116 67 -7 25 248 -145 454 170
Net Cash Flow -24 10 -18 -3 61 -49 -1 5 -5 46 -40 47

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 51 52 141 202 134 113 153 215 146 145 181 170
Inventory Days 375 259 192 140 56 41 96 65 98 113 135 111
Days Payable 679 320 307 260 148 134 227 262 173 131 141 154
Cash Conversion Cycle -252 -9 26 81 42 20 22 18 72 127 175 127
Working Capital Days 49 93 131 165 107 94 136 126 135 187 231 265
ROCE % 33% 36% 24% 13% 18% 24% 21% 20% 19% 15% 13% 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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