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HFCL share price & results

HFCL Limited· Telecommunication

Results to
Sept 2026
Latest analysed call
Q2 FY27
Ownership as of
Sept 2026

India's largest optical fibre cable maker, also building telecom equipment, defence electronics and EPC networks.

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Reported

The figures, each with its period

Each figure keeps its basis and period; nothing is filled in.

MetricValueChangeBasisPeriodNote
Revenue2,542 ₹ crore+143.7% YoYQuarterly, as filedQuarter to Sept 2026Revenue from operations as filed.
Operating margin25.0 %+7.0 pts YoYOperating profit / revenueQuarter to Sept 2026For the quarter; a change is in percentage points.
Net profit394 ₹ crore+447.2% YoYQuarterly, as filedQuarter to Sept 2026Profit after tax as filed.
Return on equity15.35 %+2.6 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Sept 2026Adjusted profit attributable to owners ÷ average owners’ equity.
Free cash flow margin-14.59 %−14.3 ptsFY Mar 2026 vs FY Mar 2025Fiscal yearFY ending Mar 2026(Operating cash flow − fixed-asset purchases + disposals) ÷ revenue.
Revenue growth (YoY)101.02 %+30.7 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Sept 2026Revenue change against the same period one year earlier.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Sept 2026

Guidance

What management said, and what became of it

3 of 10 judged targets kept · 12 open · verdicts reflect calls analysed to Q1 FY27.

HFCL Limited management guidance track record on Inve: 22 targets tracked across analysed earnings calls (3 achieved, 7 missed, 12 open).

TargetOriginal wordingSaidLatest callVerdict
OFC Market Demand RecoveryMarket of fiber optic cable would pick up significantly from Q4 FY25
Call transcript, Q2 FY25 · 22 Oct 2024		Q2 FY25Q1 FY27:The promise remains achieved. The strong order book of ~INR 16,000 crores in OFC and positive pricing commentary in Q1 FY27 further validate the market recovery.
Call transcript, Q1 FY27 · 22 Jul 2026		Achieved
Overall Revenue TargetINR 10,000 crores of revenue in 3 years' time frame
Call transcript, Q2 FY25 · 22 Oct 2024		Q2 FY25Q1 FY27:The aspirational target of INR 10,000 crores was not mentioned. Management provided a more concrete FY27 growth guidance of 40%+ instead.
Call transcript, Q1 FY27 · 22 Jul 2026		Ghosted
Passive Components Business RevenueINR 750 crores in next 2-3 years
Call transcript, Q2 FY25 · 22 Oct 2024		Q2 FY25Q1 FY27:Management significantly revised the guidance upwards, now targeting INR 800 crores from the data center connectivity business in FY27 itself, compared to the previous guidance of INR 400 crores for FY27 and INR 800 crores for FY28.
Call transcript, Q1 FY27 · 22 Jul 2026		Revised Up

Source: Inve Guidance Tracker for HFCL Limited · to Q1 FY27

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

7 of HFCL Limited's 22 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 19 more targets are in the full ledger.

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Price

₹250.11 +2.24% · +₹5.48

Last close 27 Oct 2026 · NSE · INR · Source: Inve

Performance +221.7% 1Y

₹50₹100₹150₹200₹250Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Oct 26Q2 FY26 — 24 Oct 2025Q3 FY26 — 3 Feb 2026Q4 FY26 — 30 Apr 2026Q1 FY27 — 22 Jul 2026Q2 FY27 — 19 Oct 2026

1Y: ₹77.74 on 24 Oct 2025 → ₹250.11. High ₹271.9 (7 Oct 2026), low ₹60.95 (27 Jan 2026).

Previous close
₹244.63
Market cap
₹37.4k Cr
52-week range
₹60.95 – ₹271.9
One year
+225.45%
Price to earnings (TTM to Sept 2026)
43.19×
Return on equity (TTM to Sept 2026)
15.35%

Overview

Symbol
NSE:HFCL
Exchange
NSE
Currency
INR

What HFCL Limited does

Based on the company's own presentations, annual report and earnings calls.

HFCL designs and manufactures optical fibre (OF) and optical fibre cable (OFC), telecom networking equipment (Wi-Fi access points, routers, switches, 5G FWA CPE) and defence electronics (thermal sights, fuzes, radars), and separately executes large-scale telecom and public-network EPC/system-integration projects such as BharatNet, GSM backhaul and defence communication networks. It earns through direct product sales to telecom operators, hyperscalers/data centres and defence customers, plus project execution and O&M contracts for government and private telecom networks, and is expanding into defence/aerospace manufacturing and backward-integrated optical preform production.

Segments

  • OF, OFC & Connectivity Solutions
  • Defence Equipment
  • Telecom Equipment
  • EPC & System Integration
Market position in Optical Fibre Cable (India)
#1 (largest supplier)
Manufacturing facilities in India
6
Optical Fiber capacity
28 mn fkm/annum (expanding to ~33.9 mn fkm)
Optical Fiber Cable capacity
34 mn fkm/annum (expanding to ~43 mn fkm)
Country presence
60+ countries
Marquee customers served
80+
Founded 1987Headquarters Solan, Himachal Pradesh, India

How the price took the results

close before → close after

Q2 FY27
+5.0%
19 Oct
Q1 FY27
−0.0%
22 Jul
Q4 FY26
+8.3%
30 Apr
Q3 FY26
+3.1%
3 Feb

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

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