HFCL Ltd

About

HFCL Ltd 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

Product Portfolio
Company's product portfolio includes Optical Fiber Cable (OFC), Optical Fiber, Wi-fi systems, microwave radios, routers, Ethernet switches, Electronic fuses, Electro optic devices and others.[1]

See full details
  • Market Cap 9,167 Cr.
  • Current Price 71.1
  • High / Low 95.7 / 15.2
  • Stock P/E 29.7
  • Book Value 14.9
  • Dividend Yield 0.21 %
  • ROCE 19.7 %
  • ROE 13.5 %
  • Face Value 1.00

Pros

  • Company is expected to give good quarter
  • Company's median sales growth is 26.42% of last 10 years

Cons

  • The company has delivered a poor sales growth of 9.02% over past five years.
  • Promoters have pledged 44.72% of their holding.
  • Dividend payout has been low at 1.93% of profits over last 3 years
  • Company has high debtors of 215.47 days.
  • Company's cost of borrowing seems high
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
1,213 1,221 1,215 1,343 980 853 663 700 1,054 1,277 1,391 1,207
1,120 1,093 1,111 1,153 842 759 592 621 921 1,113 1,210 1,021
Operating Profit 93 128 104 189 138 95 71 79 134 164 181 186
OPM % 8% 10% 9% 14% 14% 11% 11% 11% 13% 13% 13% 15%
Other Income 3 3 32 5 4 9 5 4 1 12 6 5
Interest 19 28 29 28 30 24 33 37 43 45 51 49
Depreciation 6 7 8 9 8 10 15 16 17 18 18 18
Profit before tax 71 96 99 157 103 70 28 29 75 114 118 124
Tax % 30% 28% 33% 26% 36% 35% 69% 27% 29% 25% 27% 27%
Net Profit 44 68 63 110 65 46 6 21 51 82 85 88
EPS in Rs 0.35 0.54 0.49 0.86 0.51 0.36 0.05 0.16 0.40 0.64 0.66 0.68

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Sep 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
515 86 261 607 2,019 2,553 2,872 2,131 3,227 4,738 3,839 4,423 4,930
1,198 262 255 546 1,864 2,272 2,600 1,944 2,944 4,320 3,346 3,873 4,265
Operating Profit -683 -176 6 60 156 281 273 187 283 418 493 550 665
OPM % -133% -203% 2% 10% 8% 11% 10% 9% 9% 9% 13% 12% 13%
Other Income 1,266 244 34 97 385 110 -29 21 24 40 22 32 25
Interest 74 46 88 86 44 44 62 62 64 92 115 176 188
Depreciation 136 11 15 17 20 34 26 22 23 27 42 69 70
Profit before tax 373 12 -63 55 476 312 156 124 220 339 358 337 432
Tax % 0% 0% -0% 0% 1% 0% 0% 0% 22% 32% 34% 27%
Net Profit 374 10 -67 56 475 324 156 123 168 220 227 239 306
EPS in Rs 8.08 0.10 -0.54 0.45 3.83 2.61 1.26 0.99 1.35 1.73 1.77 1.86 2.38
Dividend Payout % -0% -0% -0% -0% -0% -0% -0% -0% 4% 6% -0% -0%
Compounded Sales Growth
10 Years:48%
5 Years:9%
3 Years:11%
TTM:54%
Compounded Profit Growth
10 Years:37%
5 Years:0%
3 Years:13%
TTM:123%
Stock Price CAGR
10 Years:20%
5 Years:35%
3 Years:53%
1 Year:379%
Return on Equity
10 Years:20%
5 Years:15%
3 Years:15%
Last Year:14%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Sep 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
180 180 204 204 204 204 124 124 124 127 128 128
Reserves -395 -233 -82 -25 430 753 716 840 1,037 1,306 1,540 1,788
Borrowings 1,305 874 412 379 321 317 544 539 469 590 734 942
1,251 1,115 1,349 812 797 653 791 773 959 1,271 1,427 2,358
Total Liabilities 2,207 1,855 1,803 1,290 1,672 1,847 2,175 2,275 2,588 3,294 3,829 5,216
257 167 165 183 230 199 175 188 196 238 504 508
CWIP 10 16 20 22 1 4 1 2 10 86 34 36
Investments 1,013 983 915 310 313 272 57 50 55 60 58 41
927 689 703 775 1,128 1,373 1,943 2,035 2,327 2,911 3,233 4,631
Total Assets 2,207 1,855 1,803 1,290 1,672 1,847 2,175 2,275 2,588 3,294 3,829 5,216

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Sep 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
475 32 -7 51 86 129 0 136 207 34 172 57
-770 -23 68 -6 133 -45 37 -25 -30 -150 -167 -77
379 -57 -80 -62 -243 -74 -55 -114 -116 67 -7 25
Net Cash Flow 85 -48 -20 -17 -24 10 -18 -3 61 -49 -1 5

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Sep 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 344 1,650 515 215 51 52 141 202 134 113 153 215
Inventory Days 142 451 247 267 375 259 192 140 56 41 96 65
Days Payable 739 2,098 582 637 679 320 307 260 148 134 227 262
Cash Conversion Cycle -252 3 180 -155 -252 -9 26 81 42 20 22 18
Working Capital Days -230 -1,820 -23 -2 49 93 135 181 121 97 140 126
ROCE % -13% 2% 25% 33% 36% 24% 13% 18% 24% 21% 20%

Shareholding Pattern

Numbers in percentages

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
38.30 38.67 38.43 38.13 38.13 38.13 38.64 38.64 39.73 42.05 42.05 42.05
4.71 4.36 4.47 4.93 5.23 5.26 5.12 4.04 2.48 1.66 2.18 2.20
1.50 1.38 1.36 1.49 1.53 1.27 1.27 1.21 0.11 0.07 0.08 0.68
55.49 55.58 55.74 55.45 55.12 55.34 54.96 56.11 57.67 56.22 55.69 55.07

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