Loading…
Indian maker of optical fiber cables and telecom network equipment, also deploying telecom networks (BharatNet, defense).
Indian maker of optical fiber cables and telecom network equipment, also deploying telecom networks (BharatNet, defense).
Sells optical-fibre cable and telecom equipment to operators and government agencies, and wins turnkey network-building contracts, so sales are lumpy and follow carriers' roll-outs and the timing of government tenders. Government-funded rural broadband projects such as BharatNet make payment timing a factor in results.
Moat: narrow (scale, regulatory licence, customer qualification). Scale in domestic OFC manufacturing and government-project qualification, but Sterlite Technologies is a larger direct rival.
Headquarters: Gurugram, India · Founded: 1987 · Employees: 3,473
Size HFCL (HFCL.NS) is an India Communication Services company (Electrical Products) with a market value of $3.42B, the 260th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹210.66 on 6 Nov 2026.
Performance Over six months the shares gained 44.0%, against +9.8% for the median peer and 0.0% for the India market (cap-weighted) — 3rd highest of 10 in its peer set.
Growth Revenue grew 101.0% over the last twelve months (peer median +7.9%); the operating margin is 18.8% (peer median 24.5%).
Valuation It trades at 24.8× forward earnings against a peer median of 36.6× (2nd cheapest of 8).
Capital Return on invested capital runs 4.1 points below its cost of capital (18.8% WACC).
Next results Next results expected around 9 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹74.9B | ₹49.3B | ₹40.6B | ₹44.6B | ₹47.4B |
| Revenue growth | — | +22% | -9% | -6% | — |
| Gross profit | ₹21.3B | ₹10.8B | ₹6.10B | ₹7.66B | ₹7.80B |
| EBITDA | ₹16.1B | ₹7.55B | ₹4.57B | ₹6.09B | ₹6.22B |
| Net income | ₹8.68B | ₹3.12B | ₹1.77B | ₹3.30B | ₹3.01B |
| Free cash flow | n/a | -₹8.21B | ₹46.4M | -₹3.81B | -₹986M |
| Capital expenditure | n/a | ₹3.45B | ₹4.09B | ₹4.10B | ₹3.42B |
| Total debt | ₹19.4B | ₹19.0B | ₹15.2B | ₹9.91B | ₹9.36B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| HFCL HFCL.NS | $3.42B | +44% | +101% | 19% | 24.8× | n/a |
| Sterlite Technologies STLTECH.NS | $3.91B | +101% | +63% | 17% | 28.2× | 22.6% |
| Vindhya Telelinks VINDHYATEL.NS | $310M | +47% | -18% | 7% | n/a | n/a |
| Finolex Cables FINCABLES.NS | $1.76B | 0% | +27% | 10% | 19.9× | n/a |
Peer set: Sector in the same market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | HFCL.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -22.5% | +2.7% | lowest of 10 |
| 6-month return | +44.0% | +9.8% | 3rd highest of 10 |
| Distance from 52-week high | -25.4% | -13.5% | lowest of 10 |
| Revenue growth (TTM) | +101.0% | +7.9% | highest of 10 |
| Operating margin | 18.8% | 24.5% | 5th lowest of 10 |
| Forward P/E | 24.8× | 36.6× | 2nd cheapest of 8 |
| ROIC minus cost of capital | -4.1 pp | -1.3 pp | 5th lowest of 10 |
| EV / EBITDA | 21.0× | 16.2× | 4th most expensive of 9 |
| Net debt / EBITDA | 0.8× | 0.5× | 5th least indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| HFCL HFCL.NS | India | $3.42B | +44% | +101% | 19% | 24.8× | n/a | n/a |
| ITI ITI.NS | India | $2.53B | -18% | -41% | -1% | n/a | n/a | n/a |
| Sun TV Network SUNTV.NS | India | $2.48B | +4% | -5% | 38% | 14.2× | 9.5% | +6.4% |
| Prime Focus PFOCUS.NS | India | $2.36B | -7% | +29% | 16% | n/a | 26.0% | +12.6% |
| Tata Communications TATACOMM.NS | India | $5.15B | +7% | +9% | 8% | 30.9× | 34.1% | +7.7% |
| PVR Inox PVRINOX.NS | India | $1.63B | +47% | +14% | 16% | 28.7× | 15.7% | +88.3% |
| Astra Microwave Products ASTRAMICRO.NS | India | $1.56B | +34% | +4% | 25% | 61.8× | 53.3% | +12.7% |
| Bharti Hexacom BHARTIHEXA.NS | India | $8.84B | +10% | +8% | 29% | 36.6× | 33.4% | +15.2% |
| Saregama India SAREGAMA.NS | India | $1.26B | +77% | -3% | 28% | 46.6× | n/a | n/a |
| Tips Music TIPSMUSIC.NS | India | $1.04B | +20% | +27% | 67% | 39.6× | 36.6% | +32.9% |