Subscribe

HFCL Limited (HFCL.NS)

INR223.08 +10.30 (+4.84%)
IN NSE Technology Communication Equipment
Address 8, Commercial Complex 110048
New Delhi, IN
CEO Mahendra Nahata
Website hfcl.com
IPO 2002-08-12
ISIN INE548A01028

Explore sections of this company profile

Also trades on Bombay Stock Exchange · HFCL.BO (INR) National Stock Exchange of India · HFCL.NS (INR)
Description

Based in New Delhi, India, and established in 1987, HFCL Limited (formerly Himachal Futuristic Communications Limited until October 2019) is an international manufacturer and seller of telecommunications products. The company operates through two primary divisions: Telecom Products and Turnkey Contracts and Services. Its product portfolio includes a wide array of optical fiber cables, such as aerial, armored, micro, unarmored, and Fiber-to-Anywhere (FTTx) types. HFCL also develops various microwave solutions, encompassing packet, hybrid, and small cell radio systems, alongside network management platforms. Furthermore, the company offers Gigabit Passive Optical Network (GPON) systems like Optical Line Terminals (OLT), mini OLTs, and Optical Network Terminals (ONT). Other offerings include power electronic solutions such as AC and DC power systems, network integrated control and monitoring, power racks for passive telecom infrastructure, battery management systems, and a range of solar solutions including hybrid DC power systems, off-grid solar plants, solar water pumps, and MPPT-based solar charge controllers. Beyond manufacturing, HFCL provides extensive telecom network solutions, covering in-building systems, optical fiber cable networks, optical transmission solutions, and last-mile fiber connectivity (fiber to the home, building, premises, and curb). Their turnkey contracts involve end-to-end services from network design, equipment supply, installation, and commissioning to network integration, post-deployment warranty, and Annual Maintenance Contract (AMC) support. These services are particularly deployed across metro lines, mainline railways, and railway freight corridors. Additionally, HFCL delivers integrated solutions for communication, IT, and telecom infrastructure, data centers, disaster recovery, security, surveillance, traffic management, and smart city applications involving power, water, waste, and other utility management systems. The company has also partnered with Qualcomm Technologies, Inc. for the design and development of 5G millimeter wave Fixed Wireless Access (FWA) and Customer Premises Equipment (CPE) products. HFCL serves clients across the telecommunications, security, and railway sectors.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
Loading outlook…
Loading forecast...
Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
Loading risk profile…
Price Chart
Averages
Trend
Price
Levels
Draw
INR223.08 +10.30 (+4.84%)
Loading historical data…
Volume Profile
Loading…
Liquidity & share structure
Average Volume
58M
Beta
0.83
Float Shares
1.03B
Free Float %
67.0%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
-1.02% +2.08% +74.10% +105.17% +91.18% +116.76% +79.41% +121.96% +309.30% +769.47% +202.66%
Rolling Volatility
Loading…
Drawdown
Loading…
Relative Strength
Loading…
Monthly Returns Heatmap
From To
Loading…
Annual Monthly Returns
Loading…
Daily Returns Distribution
vs.
Loading histogram data…

Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
223.08
DCF (Unlevered) 3.14 -98.6%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 100% Bullish
Rating 2026-05 Change
Strong Buy 0 0
Buy 1 +1
Hold 0 0
Sell 0 0
Strong Sell 0 0
Quality scores
Altman Z-Score
4.71
Safe zone
Piotroski F-Score
5 / 9
Average
MOAT Score
2 / 10
No MOAT
Composite Rating
B
Overall Score
3 / 5
Medium
DCF Score
1 / 5
Low
ROE Score
3 / 5
Medium
ROA Score
4 / 5
High
D/E Score
2 / 5
Medium
P/E Score
2 / 5
Medium
P/Book Score
4 / 5
High
Operational MOAT
✗ Below peers
  • Revenue growth Communication Equipment: +9.8%
    +21.8% Q1'26: +127.8% (vs Q1'25)
  • EPS growth Communication Equipment: +36.4%
    +73.2% Q1'26: +316.1% (vs Q1'25)
  • FCF margin FCF growth · Communication Equipment: +59.0%
    -18.6% Q1'26: -9.7% (vs Q1'25)
  • EBIT margin Communication Equipment: +4.7%
    +12.2% Q1'26: +15.2% (vs Q1'25)
  • ROIC Communication Equipment: +3.7%
    +7.5% Q1'26: +14.6% (vs Q1'25)
  • Share dilution Communication Equipment: +0.0%
    +1.5% Q1'26: +1.5% (vs Q1'25)
  • Debt / EBITDA Net debt/EBITDA · Communication Equipment: -1.04×
    2.29× Q1'26: 1.35× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (2.06) × ERP
WACC = 92% × Ke + 8% × Kd (13.9%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 3.15 Current price: 223.08
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Mar 2000
actual
Mar 2001
actual
Mar 2015
actual
Mar 2016
actual
Mar 2017
actual
Mar 2018
actual
Mar 2019
actual
Mar 2020
actual
Mar 2022
actual
Mar 2023
actual
Mar 2024
actual
Mar 2025
actual
Mar 2026
1 Rev. Ana.
1 EPS Ana.
Mar 2027
1 Rev. Ana.
1 EPS Ana.
Mar 2028
1 Rev. Ana.
1 EPS Ana.
Mar 2029
1 Rev. Ana.
1 EPS Ana.
Revenue
6.22B
est.
13.46B
est.
25.53B
est: 26.85B (-4.9%)
28.73B
est: 26.85B (+7.0%)
21.31B
est: 31.68B (-32.7%)
32.27B
est: 33.78B (-4.4%)
47.38B
est: 43.18B (+9.7%)
38.39B
est: 53.97B (-28.9%)
47.27B
est: 46.70B (+1.2%)
47.43B
est: 48.65B (-2.5%)
44.65B
est: 49.26B (-9.4%)
40.65B
est: 46.33B (-12.3%)
44.96B
44.96B – 44.96B
-3.0% YoY
60.03B
60.03B – 60.03B
+33.5% YoY
75.80B
75.80B – 75.80B
+26.3% YoY
96.99B
96.99B – 96.99B
+28.0% YoY
EBITDA
767.54M
est.
1.51B
est.
2.92B
est: 3.32B (-12.1%)
3.28B
est: 3.32B (-1.2%)
1.92B
est: 3.91B (-51.0%)
2.82B
est: 4.17B (-32.4%)
4.09B
est: 5.33B (-23.4%)
5.00B
est: 6.67B (-25.0%)
6.57B
est: 5.77B (+14.0%)
6.05B
est: 6.01B (+0.6%)
5.68B
est: 6.08B (-6.7%)
4.10B
est: 6.01B (-31.8%)
5.83B
5.83B – 5.83B
-3.0% YoY
7.78B
7.78B – 7.78B
+33.5% YoY
9.83B
9.83B – 9.83B
+26.3% YoY
12.58B
12.58B – 12.58B
+28.0% YoY
EBIT
673.83M
est.
2.48B
est.
2.57B
est: 2.91B (-11.6%)
3.03B
est: 2.91B (+3.9%)
1.71B
est: 3.43B (-50.2%)
2.60B
est: 3.66B (-29.0%)
3.84B
est: 4.68B (-17.9%)
4.67B
est: 5.85B (-20.1%)
5.86B
est: 5.06B (+15.6%)
5.36B
est: 5.27B (+1.6%)
5.00B
est: 5.34B (-6.4%)
3.43B
est: 5.15B (-33.2%)
4.99B
4.99B – 4.99B
-3.0% YoY
6.67B
6.67B – 6.67B
+33.5% YoY
8.42B
8.42B – 8.42B
+26.3% YoY
10.77B
10.77B – 10.77B
+28.0% YoY
Net Income
18.34B
est.
1.86B
est.
3.24B
est: 3.12B (+3.9%)
1.56B
est: 3.12B (-50.1%)
1.23B
est: 3.59B (-65.8%)
1.68B
est: 1.62B (+3.9%)
2.20B
est: 2.08B (+5.9%)
2.27B
est: 2.47B (-7.9%)
3.13B
est: 3.75B (-16.5%)
3.01B
est: 3.90B (-22.7%)
3.30B
est: 4.76B (-30.7%)
1.77B
est: 4.68B (-62.1%)
2.63B
2.63B – 2.63B
-43.8% YoY
5.12B
5.12B – 5.12B
+94.4% YoY
7.83B
7.83B – 7.83B
+52.9% YoY
10.98B
10.98B – 10.98B
+40.2% YoY
SGA
456.80M
est.
988.98M
est.
2.79B
est: 1.97B (+41.4%)
1.79B
est: 1.97B (-9.1%)
1.61B
est: 2.33B (-31.0%)
1.77B
est: 2.48B (-28.8%)
2.09B
est: 3.17B (-34.2%)
2.28B
est: 3.97B (-42.4%)
3.04B
est: 3.43B (-11.5%)
3.51B
est: 3.58B (-1.7%)
3.55B
est: 3.62B (-1.8%)
3.72B
est: 3.88B (-4.1%)
3.76B
3.76B – 3.76B
-3.0% YoY
5.03B
5.03B – 5.03B
+33.5% YoY
6.35B
6.35B – 6.35B
+26.3% YoY
8.12B
8.12B – 8.12B
+28.0% YoY
EPS
12.71
est.
43.61
est.
2.57
est: 2.16 (+19.0%)
2.14
est: 2.16 (-0.9%)
0.99
est: 2.49 (-60.2%)
1.35
est: 1.12 (+20.5%)
1.77
est: 1.44 (+22.9%)
1.77
est: 1.71 (+3.5%)
2.38
est: 2.60 (-8.5%)
2.18
est: 2.70 (-19.3%)
2.33
est: 3.30 (-29.4%)
1.23
est: 3.20 (-61.6%)
1.80
1.80 – 1.80
-43.8% YoY
3.50
3.50 – 3.50
+94.4% YoY
5.35
5.35 – 5.35
+52.9% YoY
7.50
7.50 – 7.50
+40.2% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-08 B 3/5 1/5 3/5 4/5 2/5 2/5 4/5
2026-05-07 B 3/5 1/5 3/5 4/5 2/5 2/5 4/5
2026-05-06 B 3/5 1/5 3/5 4/5 2/5 2/5 4/5
2026-05-05 B 3/5 1/5 3/5 4/5 2/5 2/5 4/5
2026-05-04 B 3/5 1/5 3/5 4/5 2/5 2/5 4/5
2026-04-30 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-29 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-28 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-27 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-24 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-23 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-22 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-21 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-20 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-17 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-16 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
-1.23B
OE per share TTM
-0.84
Owner's Yield
-0.59%
Maintenance CapEx ratio
Maint CapEx / Avg PPE
14.8%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
Total invested
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

ETF Ownership

Top ETFs holding this stock Held by 13 ETFs in our universe
# ETF Weight Est. AUM exposure TER
1 Vanguard FTSE All-World ex-US Small-Cap ETF VSS 0.04% 5.74M 0.06%
2 Vanguard FTSE Emerging Markets All Cap Index ETF VEE.TO 0.01% 456.5K 0.26%
3 Vanguard FTSE Emerging Markets Shares ETF VGE.AX 0.01% 202.4K 0.48%
4 Vanguard FTSE Emerging Markets ETF VWO 0.01% 22.53M 0.06%
5 Vanguard Total International Stock ETF VXUS 0.00% 23.77M 0.05%
6 Vanguard Total World Stock ETF VT 0.00% 1.46M 0.06%
7 Vanguard FTSE Global All Cap ex Canada Index ETF VXC.TO 0.00% 36.2K 0.22%
8 Vanguard All-Equity ETF Portfolio VEQT.TO 0.00% 109.1K 0.22%
9 Vanguard Growth ETF Portfolio VGRO.TO 0.00% 58.6K 0.22%
10 Vanguard Balanced ETF Portfolio VBAL.TO 0.00% 25.8K 0.22%

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
2.86M
Shares Outstanding
1.53B

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Mahendra Nahata MD & Wholetime Director 78M male
Amit Agarwal Vice President & Head of Investor Relations male
Baburaj Eradath Vice President of Administration & MDs Office male
Jitendra Singh Chaudhary Executive President of Communications male
Manoj Baid President, Company Secretary & Compliance Officer male
Prakash Chand Gulgulia Vice President of Finance & Accounts male
Sanjay Vithalrao Jorapur Executive President of HR male
Sushil K. Wadhwa President of Commercial male
Alok Chander Associate Vice President of Marketing male
Vijay Raj Jain Chief Financial Officer male
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

Share your view on this stock and instantly see how the community has voted over the last 6 months.

These are community opinions and do not constitute buy or sell advice to act on. The results shown are based on aggregated opinions and are not an investment recommendation, nor do they intend to influence any investment decision.

Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits