HFCL Ltd.

NSE: HFCL · Telecommunication

₹210.66-5.00%06 Nov 2026

Ask the data

Instant answers about HFCL Ltd. — computed from its filings, no language model

Market cap₹32,239 cr

Current price₹210.66

High / Low₹272 / ₹61

P/E37.2

P/B5.71

Book value₹36.9

ROE15.4%

ROCE19.9%

Debt / equity0.33

Dividend yield0.04%

EPS (TTM)₹5.67

Face value₹1

Price & valuation

split & bonus adjusted · pick a metric and range

Annual performance

annual · ₹ crore · line = operating margin

showing latest 6 of 7 periods

	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	3,839	4,423	4,727	4,743	4,465	4,065	4,949
EBITDA	494	550	650	619	582	449	762
Operating margin	12.9%	12.4%	13.8%	13.0%	13.0%	11.0%	15.4%
Interest	115	176	166	152	147	185	242
Depreciation	42	69	78	83	82	106	157
Profit before tax	359	337	442	431	453	216	428
Tax	121	91	116	113	116	43	98
Net profit	228	239	313	301	330	177	312
EPS ₹	1.77	1.86	2.38	2.18	2.33	1.23	2.13
Operating cash flow	—	—	206	236	-45	396	-378
Capex	—	—	145	342	410	409	345
Dividend paid	—	—	19	24	29	29	14
Total assets	3,829	5,216	5,171	5,473	6,487	7,546	8,868
Equity	1,668	1,916	2,798	3,108	3,956	4,119	4,891

Quarterly performance

last 29 quarters · ₹ crore

showing latest 8 of 29 periods

	JUN '19	SEP '19	DEC '19	MAR '20	JUN '20	SEP '20	DEC '20	MAR '21	JUN '21	SEP '21	DEC '21	MAR '22	SEP '22	DEC '22	MAR '23	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26	SEP '26
Revenue	1,343	980	853	663	700	1,054	1,277	1,391	1,207	1,122	1,215	1,183	1,173	1,086	1,433	995	1,111	1,032	1,326	1,158	1,094	1,012	801	871	1,043	1,211	1,824	1,915	2,542
Operating profit	188	138	95	71	79	134	173	181	186	169	171	124	166	188	154	146	133	117	196	175	158	152	-36	28	190	228	314	414	631
Operating margin	14.0%	14.1%	11.2%	10.8%	11.3%	12.7%	13.5%	13.0%	15.4%	15.1%	14.0%	10.5%	14.1%	17.3%	10.8%	14.7%	11.9%	11.3%	14.8%	15.1%	14.5%	15.0%	-4.5%	3.3%	18.2%	18.8%	17.2%	21.6%	24.8%
Other income	6	4	9	5	4	4	4	6	5	4	4	30	9	6	14	13	17	47	14	10	14	20	14	15	13	15	22	31	27
Interest	28	30	24	33	38	43	45	51	49	40	39	38	39	37	38	36	35	37	40	42	45	47	51	56	61	63	63	62	65
Depreciation	9	8	10	15	16	17	18	18	18	18	20	23	21	20	21	21	21	19	20	24	25	26	30	32	36	44	45	51	54
Profit before tax	158	104	70	28	29	75	114	118	124	115	109	93	114	136	109	102	94	108	150	119	101	100	-104	-45	107	137	228	332	539
Tax	40	37	24	19	8	22	29	32	33	29	28	25	30	35	30	27	24	25	40	8	29	28	-22	-15	34	36	43	86	144
Net profit	110	65	46	7	21	51	82	85	88	82	78	62	82	96	72	68	69	82	110	111	74	74	-81	-32	68	98	178	229	363
EPS ₹	0.86	0.51	0.36	0.05	0.16	0.40	0.64	0.66	0.68	0.64	0.59	0.47	0.60	0.69	0.52	0.49	0.50	0.58	0.76	0.77	0.51	0.51	-0.56	-0.22	0.47	0.67	1.21	1.49	2.37
Revenue YoY	—	—	—	—	-47.9%	7.6%	49.7%	109.8%	72.5%	6.4%	-4.9%	-15.0%	4.6%	-10.6%	21.1%	—	-5.3%	-4.9%	-7.5%	16.4%	-1.6%	-2.0%	-39.6%	-24.8%	-4.6%	19.6%	127.8%	119.9%	143.6%
Profit YoY	—	—	—	—	-80.9%	-21.5%	78.5%	1132.5%	316.5%	60.0%	-4.7%	-26.4%	0.3%	22.6%	15.2%	—	-15.2%	-14.4%	53.2%	63.5%	6.4%	-10.4%	-174.0%	-129.0%	-8.2%	32.5%	—	—	434.8%

Earlier results (standalone, Sep '07 – Mar '19)

₹ crore · from BSE, before the NSE XBRL filings begin

HFCL Ltd. reports consolidated figures above. Quarterly consolidated results only became mandatory in India in 2019, so the earlier history available is the standalone company only (excluding subsidiaries). It is shown separately so the two bases are never mixed.

Full years

showing latest 8 of 11 periods

	FY09†	FY10†	FY11†	FY12†	FY13†	FY14†	FY15†	FY16†	FY17†	FY18†	FY19†
Revenue	139	205	193	261	605	2,019	2,551	2,570	2,191	3,366	4,370
Operating profit	-184	-55	-124	41	83	187	246	277	180	257	336
Operating margin	-132.1%	-27.0%	-64.2%	15.6%	13.6%	9.3%	9.7%	10.8%	8.2%	7.6%	7.7%
Other income	5	17	16	25	26	14	20	22	19	25	50
Interest	91	87	27	34	27	33	43	45	60	61	78
Depreciation	—	25	103	15	17	20	34	25	16	16	18
Profit before tax	-316	-111	41	11	55	148	190	119	124	204	291
Tax	0	391	0	0	0	0	0	0	0	49	107
Net profit	-317	-501	41	11	55	147	190	119	124	155	184

Quarters

showing latest 8 of 47 periods

	SEP '07†	DEC '07†	MAR '08†	JUN '08†	SEP '08†	DEC '08†	MAR '09†	JUN '09†	SEP '09†	DEC '09†	MAR '10†	JUN '10†	SEP '10†	DEC '10†	MAR '11†	JUN '11†	SEP '11†	DEC '11†	MAR '12†	JUN '12†	SEP '12†	DEC '12†	MAR '13†	JUN '13†	SEP '13†	DEC '13†	MAR '14†	JUN '14†	SEP '14†	DEC '14†	MAR '15†	JUN '15†	SEP '15†	DEC '15†	MAR '16†	JUN '16†	SEP '16†	DEC '16†	MAR '17†	JUN '17†	SEP '17†	DEC '17†	MAR '18†	JUN '18†	SEP '18†	DEC '18†	MAR '19†
Revenue	91	90	58	33	34	37	36	47	43	57	57	56	51	44	42	48	50	70	92	127	113	139	225	258	504	581	675	619	651	600	681	625	588	593	764	504	470	442	774	904	664	854	944	1,032	1,137	1,106	1,095
Operating profit	7	9	-75	-4	-13	5	-171	4	6	3	-69	5	-11	-5	-114	5	11	12	13	19	17	24	22	24	62	67	34	84	83	59	20	88	84	85	20	64	40	40	36	54	57	71	75	86	80	104	65
Operating margin	7.4%	10.4%	-129.2%	-13.7%	-37.6%	13.7%	-479.1%	9.5%	13.7%	6.0%	-121.9%	9.7%	-22.4%	-10.3%	-267.2%	11.3%	21.6%	16.6%	14.0%	14.6%	15.3%	17.5%	9.9%	9.5%	12.2%	11.5%	5.0%	13.6%	12.7%	9.9%	3.0%	14.0%	14.4%	14.3%	2.6%	12.6%	8.6%	9.0%	4.6%	6.0%	8.5%	8.3%	8.0%	8.4%	7.1%	9.4%	5.9%
Other income	1	0	1	1	4	0	1	0	8	1	8	1	3	4	9	1	1	2	21	14	5	2	5	2	1	2	9	4	3	3	9	4	5	3	10	5	3	2	9	6	4	4	12	3	2	3	42
Interest	17	18	19	24	23	25	19	23	19	22	22	1	1	14	11	8	8	8	10	7	7	6	7	7	8	8	10	9	8	13	13	11	12	11	11	18	16	17	9	16	16	16	12	15	18	27	19
Depreciation	7	6	8	6	7	7	—	6	6	6	6	6	6	7	84	3	4	4	4	4	4	4	4	4	5	5	5	9	10	8	7	6	6	6	6	4	3	4	4	4	4	4	4	4	4	5	5
Profit before tax	-16	-15	-97	-36	-38	-46	-196	-23	-17	-19	-51	-6	6	18	22	-5	0	2	14	18	9	13	15	15	50	55	27	69	69	42	9	112	72	70	-135	46	25	21	32	40	40	54	69	70	61	75	84
Tax	3	3	0	0	0	0	0	0	0	0	390	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-0	0	14	15	9	10	26	21	27	33
Net profit	-19	-18	-97	-36	-38	-46	-196	-23	-17	-19	-442	-6	6	18	22	-5	0	2	14	18	9	13	15	15	50	55	27	69	69	42	9	112	72	70	-135	46	25	21	32	26	25	45	59	44	40	48	51
EPS ₹	-0.82	-1.23	-2.23	-0.85	-0.90	-1.06	-4.46	-0.56	-0.42	-0.46	-10.00	-0.15	0.10	0.17	0.21	-0.06	0.00	0.01	0.10	0.13	0.06	0.10	0.11	0.11	0.39	0.44	0.20	0.55	0.55	0.33	0.07	0.90	0.57	0.56	-1.10	0.36	0.20	0.17	0.27	0.22	0.20	0.36	0.47	0.34	0.33	0.39	0.42
Revenue YoY	—	—	—	—	-62.5%	-59.2%	-38.7%	44.9%	27.0%	57.3%	58.8%	18.1%	16.9%	-23.6%	-25.2%	-13.4%	-1.5%	59.8%	117.1%	162.9%	127.4%	98.6%	144.1%	102.7%	345.2%	316.9%	199.7%	139.5%	29.1%	3.3%	0.9%	1.1%	-9.7%	-1.3%	12.1%	-19.4%	-19.9%	-25.4%	1.4%	79.3%	41.1%	93.2%	21.9%	14.2%	71.4%	29.5%	15.9%
Profit YoY	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	-94.2%	-88.3%	-37.1%	—	2517.1%	520.7%	6.2%	-13.4%	447.6%	311.9%	82.9%	354.3%	37.4%	-24.2%	-64.6%	61.8%	4.0%	66.8%	-1537.0%	-58.9%	-65.3%	-70.0%	—	-44.5%	1.1%	116.2%	85.8%	73.1%	58.0%	6.5%	-12.4%

Returns & margins

trailing-twelve-month, per quarter

showing latest 8 of 23 periods

	MAR '20	JUN '20	SEP '20	DEC '20	MAR '21	JUN '21	SEP '21	DEC '21	MAR '22	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26	SEP '26
ROE	13.7%	8.3%	7.5%	9.7%	12.5%	16.0%	17.6%	17.4%	11.1%	10.2%	8.6%	8.2%	8.3%	9.4%	9.0%	8.8%	4.3%	0.8%	0.7%	1.3%	6.4%	11.7%	15.4%
ROCE	20.3%	15.2%	14.6%	17.3%	18.1%	21.9%	23.2%	22.8%	17.2%	15.9%	13.3%	12.6%	12.2%	12.6%	11.9%	11.9%	7.3%	4.6%	4.8%	5.7%	10.1%	15.9%	19.9%
Net margin	5.9%	4.4%	3.8%	4.4%	5.4%	6.2%	6.7%	6.7%	6.6%	6.8%	6.6%	6.4%	7.4%	8.1%	8.2%	8.0%	4.4%	0.9%	0.7%	1.3%	6.3%	9.6%	11.6%
EBITDA margin	12.8%	12.0%	11.6%	12.4%	12.8%	13.7%	14.2%	14.3%	13.8%	14.0%	13.4%	12.0%	13.2%	13.4%	14.0%	14.8%	11.0%	8.0%	9.0%	10.5%	15.4%	19.1%	21.2%
Debt / equity	0.40	0.40	0.40	0.40	0.48	0.48	0.48	0.48	0.26	0.24	0.24	0.24	0.25	0.25	0.29	0.29	0.33	0.33	0.38	0.38	0.35	0.35	0.33
Interest coverage	4.13	2.85	2.47	2.56	2.91	3.30	3.55	3.60	3.66	4.06	4.02	3.83	4.08	4.06	3.92	3.70	2.17	1.26	1.27	1.41	2.76	4.23	5.88
Asset turnover	1.00	0.83	0.85	0.96	0.85	0.95	0.96	0.95	0.91	0.86	0.78	0.77	0.69	0.71	0.61	0.61	0.54	0.50	0.47	0.49	0.56	0.68	0.74

Balance sheet

equity vs borrowings over time · ₹ crore

showing latest 6 of 18 periods

	MAR '14‡	MAR '15‡	MAR '16‡	MAR '17‡	MAR '18‡	MAR '19‡	MAR '20‡	MAR '21‡	MAR '22‡	SEP '22	MAR '23	SEP '23	MAR '24	SEP '24	MAR '25	SEP '25	MAR '26	SEP '26
Share capital	204	204	124	124	124	127	128	128	137	138	138	143	144	144	144	144	153	153
Other equity / reserves	430	753	716	840	1,055	1,314	1,540	1,788	2,661	2,770	2,970	3,417	3,812	4,047	3,975	3,987	4,738	5,496
Total equity	634	958	840	964	1,179	1,442	1,668	1,916	2,798	2,908	3,108	3,560	3,956	4,191	4,119	4,132	4,891	5,649
Borrowings	300	289	493	448	342	553	669	920	730	733	748	861	977	1,198	1,341	1,552	1,713	1,840
Current liabilities	819	684	957	1,023	1,267	1,701	1,911	2,987	2,177	2,183	2,142	2,063	2,184	2,839	2,888	3,164	3,367	3,624
Non-current liabilities	196	178	345	286	165	161	250	306	176	179	186	252	303	449	539	617	552	796
Total assets	1,650	1,820	2,141	2,275	2,588	3,294	3,829	5,216	5,171	5,294	5,473	5,920	6,487	7,522	7,546	7,959	8,868	10,175
Property, plant & equipment	153	121	154	158	166	202	437	443	465	474	487	509	496	481	630	825	913	941
Capital work-in-progress	0	4	0	2	2	64	15	12	47	89	70	66	154	243	200	112	85	138
Investments	313	272	47	50	55	60	58	41	55	62	70	63	194	289	158	178	135	192
Inventories	150	236	276	245	214	265	344	435	573	712	758	812	774	781	899	1,151	1,416	1,544
Receivables	281	366	1,113	1,179	1,234	1,563	1,730	3,056	2,492	2,308	2,309	2,366	2,736	3,057	2,302	2,281	2,482	2,890
Cash & equivalents	—	—	—	—	—	—	—	21	17	137	64	227	23	168	71	29	38	185

Cash flow

annual · ₹ crore · line = free cash flow

showing latest 5 of 13 periods

	FY14‡	FY15‡	FY16‡	FY17‡	FY18‡	FY19‡	FY20‡	FY21‡	FY22	FY23	FY24	FY25	FY26
Cash from operations	86	129	0	136	207	34	172	145	206	236	-45	396	-378
Cash from investing	133	-45	37	-25	-30	-150	-167	-165	-458	-45	-449	-518	-324
Cash from financing	-243	-74	-55	-114	-116	67	-7	25	248	-145	454	170	669
Capex	46	15	58	33	40	177	168	106	145	342	410	409	345
Free cash flow	40	114	-57	103	168	-143	4	39	61	-105	-455	-13	-723
Dividends paid	—	—	—	—	0	—	15	0	19	24	29	29	14

Where the assets sit

Sep '26 · ₹ crore

Fixed assets (PPE)

₹941 cr9%

CWIP

₹138 cr1%

Investments

₹192 cr2%

Inventories

₹1,544 cr15%

Receivables

₹2,890 cr28%

Cash & equivalents

₹185 cr2%

Other assets

₹4,285 cr42%

Peer comparison

largest in Telecommunication · this company in bold

Company	Market cap ₹cr	Price	P/E	P/B	ROE
Bharti Airtel Ltd.	13,15,061	2,107.20	42.4	8.32	19.6%
Vodafone Idea Ltd.	1,38,246	12.76	3.7	—	—
Indus Towers Ltd.	1,01,066	383.10	14.2	2.56	18.0%
Bharti Hexacom Ltd.	83,220	1,664.40	42.3	11.38	26.9%
Tata Communications Ltd.	48,602	1,704.80	44.0	14.29	32.5%
Sterlite Technologies Ltd.	37,075	719.90	48.2	8.16	16.9%
HFCL Ltd.	32,239	210.66	37.2	5.71	15.4%
ITI Ltd.	23,961	248.85	—	12.57	-5.9%
Tata Teleservices (Maharashtra) Ltd.	7,775	39.77	26.0	—	—
Railtel Corporation Of India Ltd.	7,736	241.05	22.9	3.28	14.3%

StoxGud checklist: Bullish setup · 7/10

Price above 50-day average
Price above 200-day average
50-day average above 200-day (uptrend)
RSI in healthy 40–70 zone
Positive 1-year return
Return on equity above 15%
Debt to equity below 1
Revenue growing year on year
Net profit margin above 10%
P/E below industry median

A rules-based screen of trend, momentum, quality and valuation. Educational only — not a buy or sell recommendation.

Returns & technicals

1 month-22.5%

6 months+44.1%

1 year+173.1%

3Y CAGR+47.3%

5Y CAGR+23.0%

10Y CAGR+30.7%

50-day avg₹236.97

200-day avg₹162.62

RSI (14)30

Compare HFCL Ltd. with

Bharti Hexacom vs HFCL Tata Communications vs HFCL Sterlite Technologies vs HFCL HFCL vs ITI HFCL vs Tata Teleservices (Maharashtra)HFCL vs Railtel Corporation Of India HFCL vs Tejas Networks

FAQs

What is the share price of HFCL Ltd.?

HFCL Ltd. (HFCL) closed at ₹210.66 on NSE on 06 Nov 2026.

What is the market cap of HFCL Ltd.?

₹32,239 crore at the latest close.

What is the P/E ratio of HFCL Ltd.?

37.2, on trailing-twelve-month earnings from its filings.

How fast is HFCL Ltd. growing?

HFCL Ltd.: revenue has compounded at 1.4% a year over three years; net profit at 1.2% a year. Latest-quarter revenue is up 143.6% year on year, profit up 434.8%.

How profitable is HFCL Ltd.?

On a trailing-twelve-month basis return on equity is 15.4%, return on capital employed 19.9%, operating margin 21.2%, net margin 11.6%.

How much debt does HFCL Ltd. have?

HFCL Ltd. is lightly geared: debt to equity is 0.33 with borrowings of ₹1,840 cr against cash of ₹185 cr (balance sheet of 2026-09-30). Operating profit covers interest 5.9 times.

Financials parsed from HFCL Ltd.'s own XBRL filings to NSE (consolidated), ₹ crore unless marked. Quarterly from JUN '19, annual from FY20, balance sheet from Mar '14. * = derived (full year or half year minus earlier quarters). ‡ = balance sheet / cash flow read from the company's published annual report (same basis), for years before the NSE filings carry them; each one checked to add up. Information only, not investment advice.