Added to YB: 2026-05-28
Pitch date: 2026-05-24
HFCL.NS [neutral]
HFCL Limited
Author Info
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Company Info
HFCL Limited manufactures and sells telecom products in India and internationally. The company offers optical fiber cables, such as underground, aerial, microduct, FTTH, and micromodule cables; telecommunication products, including unlicensed band backhaul radios, Wi-Fi access points, routers, managed switches, antennas, network management solutions, and 5g product portfolio; defence product comprising electronic fuzes, electro optics, high capacity radio relay, software defined radios, and ground surveillance radars; and passive networking components, such as high density cabinets, joint closures, optical splitters, aerial cable accessories, fiber optic cable assemblies, and copper cable assemblies.
Market Cap
INR 247.7B
Pitch Price
N/A
Price Target
N/A
Dividend
0.12%
EV/EBITDA
34.41
P/E
75.96
EV/Sales
5.30
Sector
Diversified Telecommunication Services
Category
growth
The Business of HFCL
HFCL.NS (overview): 30-yr telecom infra co w/ 3 segments: mfg (wireless backhaul,Wi-Fi,fiber cable-59% rev), system integration, & network build-outs. ₹21.2k cr order book (58% export); ₹10.1k cr global fiber contract; preform backward integration (₹580cr capex) to cut costs 15-20%; defense expansion via ₹375cr facility+₹1.93k cr export orders. Jio 30-40% rev (concentration risk); fiber margins compressing 35%→25-30% on commoditization; defense high-margin (20%+ net) but slow ramp. Bull: 5G/defense acceleration, 15-20k cr rev in 5yr. Bear: Jio capex cuts, margin compression, stalled growth at 5-5.5k cr.
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