HFCL Limited (IN:HFCL)
:HFCL
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HFCL Limited
(HFCL)
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Rating:63Neutral
Price Target:
₹104.00
▲(53.46% Upside)
Action:ReiteratedDate:04/22/26
The score is driven primarily by solid underlying financial performance (strong operating margins and a stable balance sheet, offset by weaker net margin and cash-flow volatility). Technicals are supportive but overbought signals reduce the rating. Valuation is the main drag due to a higher P/E and minimal dividend yield.
Positive Factors
Diversified business model
HFCL's mix of optical fiber/cable manufacturing, telecom equipment and turnkey network projects reduces reliance on any single revenue source. This vertical and service integration improves resilience to telecom capex cycles, supports cross-selling, and creates longer-duration contract relationships.
Negative Factors
Revenue decline
Material year-over-year revenue decline suggests weaker demand, project timing or tender conversion issues. Sustained top-line contraction can erode market share, reduce operating leverage, and limit ability to absorb fixed costs, making medium-term recovery dependent on new large contracts or structural market growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified business model
HFCL's mix of optical fiber/cable manufacturing, telecom equipment and turnkey network projects reduces reliance on any single revenue source. This vertical and service integration improves resilience to telecom capex cycles, supports cross-selling, and creates longer-duration contract relationships.
Read all positive factors
HFCL Limited (HFCL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹153.41B
Dividend Yield0.15%
Average Volume (3M)1.95M
Price to Earnings (P/E)25.3
Beta (1Y)1.70
Revenue Growth-14.47%
EPS Growth-86.24%
CountryIN
Employees2,114
SectorTechnology
Sector Strength88
IndustryCommunication Equipment
Share Statistics
EPS (TTM)0.70
Shares Outstanding1,530,602,400
10 Day Avg. Volume1,557,863
30 Day Avg. Volume1,945,886
Financial Highlights & Ratios
PEG Ratio-1.39
Price to Book (P/B)2.86
Price to Sales (P/S)2.87
P/FCF Ratio70.27
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)3.3
Revenue Forecast (FY)₹55.03B
HFCL Limited Business Overview & Revenue Model
Company Description
HFCL Limited manufactures and sells telecom products in India and internationally. The company operates through Telecom Products and Turnkey Contracts and Services segments. It offers a range of optical fiber cables, such as aerial, armoured, Fibe...
How the Company Makes Money
HFCL primarily makes money by selling telecommunications infrastructure products and by executing network projects and related services. Key revenue streams include: (1) Product sales: revenue from manufacturing and selling optical fiber cables an...
HFCL Limited Financial Statement Overview
Summary
Income Statement
75
Positive
Balance Sheet
68
Positive
Cash Flow
60
Neutral
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 37.27B | 40.65B | 44.65B | 47.43B | 47.27B | 44.23B |
| Gross Profit | 9.55B | 11.07B | 12.39B | 12.57B | 12.23B | 10.14B |
| EBITDA | 3.19B | 4.10B | 5.68B | 6.05B | 6.57B | 5.44B |
| Net Income | 278.50M | 1.77B | 3.30B | 3.01B | 3.13B | 2.39B |
Balance Sheet | ||||||
| Total Assets | 79.59B | 75.46B | 64.87B | 54.73B | 51.71B | 52.16B |
| Cash, Cash Equivalents and Short-Term Investments | 3.78B | 4.93B | 3.42B | 3.35B | 2.50B | 242.90M |
| Total Debt | 17.30B | 15.22B | 9.91B | 9.36B | 7.83B | 9.42B |
| Total Liabilities | 37.81B | 34.27B | 24.87B | 23.28B | 23.53B | 32.92B |
| Stockholders Equity | 41.32B | 40.79B | 39.56B | 31.08B | 27.98B | 19.16B |
Cash Flow | ||||||
| Free Cash Flow | -1.77B | 1.66B | -4.55B | -1.05B | 228.10M | -492.50M |
| Operating Cash Flow | -436.00M | 3.96B | -448.80M | 2.36B | 2.06B | 568.20M |
| Investing Cash Flow | -790.90M | -5.18B | -4.49B | -446.30M | -4.58B | -769.40M |
| Financing Cash Flow | 816.00M | 1.70B | 4.54B | -1.45B | 2.48B | 249.80M |
HFCL Limited Technical Analysis
Positive
67.77
Price Trends
72.64
Positive
69.74
Positive
73.03
Positive
Market Momentum
5.30
Negative
80.82
Negative
93.44
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:HFCL, the sentiment is Positive. The current price of 67.77 is below the 20-day moving average (MA) of 76.10, below the 50-day MA of 72.64, and below the 200-day MA of 73.03, indicating a bullish trend. The MACD of 5.30 indicates Negative momentum. The RSI at 80.82 is Negative, neither overbought nor oversold. The STOCH value of 93.44 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:HFCL.
HFCL Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | ₹11.19B | 40.47 | ― | ― | 32.70% | -41.44% | |
63 Neutral | ₹153.41B | 25.29 | ― | 0.15% | -14.47% | -86.24% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
60 Neutral | ₹130.43B | -74.07 | ― | ― | -13.31% | 76.93% | |
51 Neutral | ₹106.67B | 49.76 | ― | 0.24% | 8.54% | 19.38% | |
48 Neutral | ₹1.01B | -4.51 | ― | ― | -20.24% | 72.43% | |
46 Neutral | ₹73.03B | -7.52 | ― | 0.55% | -87.10% | -296.61% |
* Technology Sector Average
IN:HFCL
HFCL Limited
106.75
24.99
30.57%
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HFCL Limited Corporate Events
HFCL Issues Newspaper Notices Ahead of April 24 Extraordinary General Meeting
Mar 28, 2026
HFCL Limited has notified the stock exchanges that it has published public notices in leading English and Hindi newspapers regarding its upcoming Extra-Ordinary General Meeting scheduled for April 24, 2026. The company has released these advertise...
HFCL Extends Rs 30 Crore Corporate Guarantee for Subsidiary HTL
Mar 28, 2026
HFCL Limited has issued a corporate guarantee in favour of Axis Finance Limited to secure a rupee term loan facility of up to Rs 30 crore availed or to be availed by its subsidiary HTL Limited. The company, which holds a 74% stake in HTL while the...
HFCL shareholders clear postal ballot resolution via remote e-voting
Mar 16, 2026
HFCL Limited has reported that shareholders have approved the resolution circulated via postal ballot, with votes cast through a remote e-voting process managed by National Securities Depository Limited. The scrutinizer, a practicing company secre...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.