-1.5 (-2.03%)
As on 24 September, 2023 | 08:35 BSE: 500183 NSE: HFCLISIN: INE548A01028

Hfcl Performance

Day Range

  • Low 72.1
  • High 74.1

52 Week Range

  • Low 55.75
  • High 88.8
  • Open Price73.75
  • Previous Close73.8
  • Volume6135937

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Hfcl Share Price

  • Over 1 Month 6.64%
  • Over 3 Month 8.48%
  • Over 6 Month 16.61%
  • Over 1 Year -3.98%

Hfcl Key Statistics

P/E Ratio 32.5
PEG Ratio 2.2
Market Cap Cr 10,330
Price to Book Ratio 3.3
EPS 1.8
Dividend 0.3
Relative Strength Index 48.67
Money Flow Index 63.79
MACD Signal 1.52
Average True Range 2.87

Hfcl Investment Rating

  • Master Rating:
  • HFCL has an operating revenue of Rs. 4,687.48 Cr. on a trailing 12-month basis. An annual revenue de-growth of 0% needs improvement, Pre-tax margin of 9% is okay, ROE of 9% is fair but needs improvement. The company has a reasonable debt to equity of 4%, which signals a healthy balance sheet. The stock from a technical standpoint is trading close to its 50DMA and comfortably placed above its 200DMA, around 5% above 200DMA. It needs to take support around the 50 DMA level to continue further upside move. It is currently FORMING a base in its weekly chart and is trading around 10% away from the crucial pivot point. From an O'Neil Methodology perspective, the stock has an EPS Rank of 75 which is a FAIR score but needs to improve its earnings, a RS Rating of 38 which is POOR indicating the underperformance as compared to other stocks, Buyer Demand at A- which is evident from recent demand for the stock, Group Rank of 81 indicates it belongs to a poor industry group of Computer-Networking and a Master Score of C is fair but needs to improve. Institutional holding has gone up in the last reported quarter is a positive sign. Overall, the stock has mediocre earnings and technical strength, there are superior stocks in the current market environment.

EPS Strength

Price Strength

Buyer Demand

Group Rank

HFCL Financials
IndicatorJun 2023Mar 2023Dec 2022Sep 2022Jun 2022Mar 2022
Oper Rev Qtr Cr 8801,3231,0021,1199511,066
Operating Expenses Qtr Cr 7851,223861979865970
Operating Profit Qtr Cr 951001411418696
Depreciation Qtr Cr 141414151417
Interest Qtr Cr 293126312928
Tax Qtr Cr 171927261521
Net Profit Qtr Cr 495180764862
IndicatorMar 2023Mar 2022
Total Revenue Annual Cr 4,4454,330
Operating Expenses Annual Cr 3,9293,759
Operating Profit Annual in Cr 466528
Depreciation Cr 5757
Interest Annual Cr 117133
Tax Annual Cr 8799
Net Profit Annual Cr 255283
IndicatorMar 2023Mar 2022
Cash from Operating Activity Annual Cr 141
Cash from Investing Activity Annual Cr -388
Cash from Financing Annual Activity Cr 242
Net Cash Flow Annual Cr -5
IndicatorMar 2023Mar 2022
Total ShareHolders Funds Annual Cr 2,9932,728
Fixed Assets Annual Cr 608462
Total Non Current Assets Annual Cr 1,3271,287
Total Current Assets Annual Cr 3,7533,520
Total Assets Annual Cr 5,0804,807
IndicatorMar 2023Mar 2022
Book Value Per Share Annual Rs 2220
ROE Annual % 910
ROCE Annual % 1518
Total Debt to Total Equity Annual --
EBDIT Annual Margin % 1213
IndicatorJun 2023Mar 2023Dec 2022Sep 2022Jun 2022Mar 2022
Oper Rev Qtr Cr 9951,4331,0861,1731,0511,183
Operating Expenses Qtr Cr 8491,2798981,0079411,059
Operating Profit Qtr Cr 146154188166110124
Depreciation Qtr Cr 212120212023
Interest Qtr Cr 363837393838
Tax Qtr Cr 273035301825
Net Profit Qtr Cr 687296825165
IndicatorMar 2023Mar 2022
Total Revenue Annual Cr 4,7904,770
Operating Expenses Annual Cr 4,1254,077
Operating Profit Annual in Cr 619650
Depreciation Cr 8378
Interest Annual Cr 152166
Tax Annual Cr 113116
Net Profit Annual Cr 301313
IndicatorMar 2023Mar 2022
Cash from Operating Activity Annual Cr 206
Cash from Investing Activity Annual Cr -458
Cash from Financing Annual Activity Cr 248
Net Cash Flow Annual Cr -4
IndicatorMar 2023Mar 2022
Total ShareHolders Funds Annual Cr 3,1082,798
Fixed Assets Annual Cr 790610
Total Non Current Assets Annual Cr 1,3901,352
Total Current Assets Annual Cr 4,0823,819
Total Assets Annual Cr 5,4735,171
IndicatorMar 2023Mar 2022
Book Value Per Share Annual Rs 2320
ROE Annual % 1011
ROCE Annual % 1821
Total Debt to Total Equity Annual --
EBDIT Annual Margin % 1415

Hfcl Technicals


Current Price
-1.5 (-2.03%)
  • Bullish Moving Average
  • ___
  • 7
  • Bearish Moving Average
  • ___
  • 9
  • 20 Day
  • ₹73.36
  • 50 Day
  • ₹71.04
  • 100 Day
  • ₹69.35
  • 200 Day
  • ₹69.03
  • 20 Day
  • ₹74.44
  • 50 Day
  • ₹69.78
  • 100 Day
  • ₹68.14
  • 200 Day
  • ₹68.53

Hfcl Resistance and Support

First Resistance ₹73.57
Second Resistance ₹74.84
Third Resistance ₹75.57
RSI 48.67
MFI 63.79
MACD Single Line 1.52
MACD 0.95
First Resistance ₹71.57
Second Resistance ₹70.84
Third Resistance ₹69.57

Hfcl Delivery and Volume

Period NSE + BSE Volume Avg NSE + BSE Delivery Volume Avg NSE + BSE Delivery Volume %
Day 6,460,454 242,137,816 37.48
Week 12,746,117 453,889,226 35.61
1 Month 20,000,663 770,025,513 38.5
6 Month 8,922,210 353,051,859 39.57

Hfcl Result Highlights

HFCL Synopsis


Hfcl is involved in the business activities of Construction/erection and maintenance of power, telecommunication and transmission lines. Company’s Total Operating Revenue is Rs. 4395.68 Cr. and Equity Capital is Rs. 137.64 Cr. for the Year ended 31/03/2023. HFCL Ltd. is a Public Limited Listed company incorporated on 11/05/1987 and has its registered office in the State of Himachal Pradesh, India. Company’s Corporate Identification Number(CIN) is L64200HP1987PLC007466 and registration number is 007466.
Market Cap 10,330
Sales 4,325
Shares in Float 88.58
No of funds 159
Yield 0.28
Book Value 3.32
U/D Vol ratio 1.7
LTDebt / Equity 3
Alpha -0.06
Beta 1.61


Owner NameAug-23Jun-23Mar-23Dec-22
Promoters 37.84%39.24%39.24%39.24%
Mutual Funds 4.11%2.6%2.43%2.43%
Insurance Companies 0.34%0.35%0.35%0.21%
Foreign Portfolio Investors 9.05%7.53%6.77%6.52%
Financial Institutions/ Banks
Individual Investors 31.08%34.23%34.35%34.75%
Others 17.58%16.05%16.86%16.85%

HFCL Management

Name Designation
Mr. Mahendra Nahata Managing Director
Mr. Surendra Singh Sirohi Independent Director
Mr. Bharat Pal Singh Independent Director
Dr.(Ms.) Tamali Sengupta Independent Director
Mr. Arvind Kharabanda Non Executive Director
Dr. Ranjeet Mal Kastia Non Executive Director
Mr. Ajai Kumar Independent Director

Hfcl Forecast

Price Estimates


Other Analyst Rating

Hfcl Corporate Action

Date Purpose Remarks
2023-07-26 Quarterly Results
2023-05-08 Audited Results & Final Dividend (Revised) per share(10%)Dividend
2023-01-23 Quarterly Results
2022-10-18 Quarterly Results
2022-07-22 Quarterly Results
Date Purpose Remarks
2023-09-23 FINAL Rs.0.20 per share(20%)Final Dividend

HFCL MF Shareholding

Name Amount(cr)
Quant Small Cap Fund Growth 8075
Quant Active Fund Growth 5688
Quant Infrastructure Fund Growth 930
Quant Value Fund Regular Growth 768
Nippon India Nifty Smallcap 250 Index Fund Reg Gr 657
  • Company Name
  • CMP
  • Chg(%)
  • Company Name
  • CMP
  • Chg(%)

About Hfcl

Himachal Futuristic Communications Limited (HFCL) is one of India's largest private organizations. It designs and manufactures cutting-edge telecom equipment and provides unique and customised end-to-end communication solutions. The company has significant manufacturing and research & development facilities in-house. It has a permanent workforce of about 2000 professionals. It has its operations in Solan (Himachal Pradesh), Goa, and Chennai (Tamil Nadu), and Gurgaon (Haryana) and New Delhi are the corporate headquarters of the HFCL.


Product and Services of HFCL

1. Telecommunication equipment, optical fibre cables, and intelligent power systems are among the company's specialities.

2. The Company has set up CDMA and GSM networks, satellite communications, wireless spectrum management, and a DWDM optical transmission network as a telecommunication solutions provider.

3. For telecommunication firms, railways, the oil and gas industry, and high-security applications as the Defense and internal security agencies require, HFCL has installed over 25,000 2G/3G cell sites and rolled out over 100,000 kilometres of optical fibre cable networks.

4. With over 1,200 individuals on its payroll, it has a national presence.

5. The company concentrates on new high-growth markets such as railways, homeland security, smart cities, and defence.

Subsidiaries of HFCL

1. HFCL Advance Systems

2. Moneta Finance Ltd

3. HTL Limited

4. DragonWave HFCL Ltd.

5. Raddef private limited

6. Polixel Security Systems

Timeline and Development

On 11 May 1987, Himachal Futuristic Communications Ltd was formed.

To manufacture 1+1 and 1+7 Analog Subscriber Carrier Systems, the HFCL entered into a technical partnership agreement with Seiscor Technologies Inc USA.

In addition, Philips Kommunikation Industries AG of Germany signed a Memorandum of Understanding to manufacture the Digital Subscriber Carrier System.

In 1991, the business established two new companies, Himachal Telematics Ltd in Solan to produce digital microwave radio transmission equipment and fax machines, and Microwave Communication Ltd in Delhi to establish a radio paging network in several of the country's major cities.

In 1993-94, the company acquired Kaldev Trader & Investment Ltd and Coubndge Construction (Delhi) Ltd.

In the same year, HFCL also signed deals with telecom behemoths such as Korea's Kong Song Communication & Electronics Co Ltd to manufacture radio pagers and satellite video receivers.

In the 1995-96 fiscal year, Himachal Telematics Ltd was amalgamated with the HFCL corporation.

In 1997, the business was awarded a contract to build an information superhighway for Essar Commvision Ltd's basic telephone project in the Punjab circle.

In 1996-97, the company's Optical Fibre Cable Plant in Goa began commercial production.

In 1998, the company joined the information technology market by providing software solutions to the telecommunications industry.

During the fiscal year 1998-99, the business got Purchase Orders for STM-1 Optical Line Terminal Equipment worth Rs 22 crore and an advance Purchase Order for STM-16 Systems worth Rs 100 crore.

In 1999, the company entered the software export market and built a state-of-the-art facility in Delhi to support it. Reliance WorldTel awarded HFCL a contract to build an Internet backbone in Tamil Nadu.

From 1999 to 2000, the business launched two joint ventures, Consolidated Futuristic Solutions Ltd and Excel Net commerce Ltd, in software and B2B E-commerce, respectively, with the Kerry Packer Group of Australia.

During 2000-01, the business formed two subsidiaries: HFCL Infotel Ltd and Consolidated Futuristic Solutions Ltd.

During the fiscal year 2001-02, the business paid Rs 55 crore for 74% of HTL Ltd, a public sector initiative that manufactures the country's largest switching equipment.

With effect from 16 October 2001, HTL Ltd became a subsidiary of the corporation.

In addition, the firm sold a portion of its stock in Consolidated Futuristic Solutions Ltd. As a result, Consolidated Futuristic Solutions Ltd ceased to be a subsidiary of the company on 6 December 2001.

From 1 September 2002, HFCL Infotel Ltd amalgamated with the Investment Trust of India Ltd, a Chennai-based firm, and was renamed HFCL Infotel Ltd.

With effect from 31 March 2003, the owned subsidiary firm HFCL Trade-Invest Ltd amalgamated with the company during the fiscal year 2002-03.

From 30 September 2003, the Company's subsidiary, the Investment Trust of India Ltd, ceased to exist.

During the 2003-04 fiscal year, the company's cable business joined the cable TV market and quickly became a dominating player.

During the fiscal year 2004-05, the business executed the largest ever WLL CorDect order of 200 Klines and 60% of MTNL's CDMA Infrastructure order.

With effect from 11 July 2006, Moneta Finance (P) Ltd has become the company's completely owned subsidiary.

HFCL requested the delisting of its GDRs from the London Stock Exchange and the Luxembourg Stock Exchange for the fiscal year ending 31 March 2014.

Following the departure of the Depository, Bank of New York (BNY Mellon), the GDRs were delisted from the London Stock Exchange and the Luxembourg Stock Exchange, respectively, on 21 March 2014, and 23 December 2013, respectively.

Due to a lack of liquidity, with almost no trading and investors' dwindling interest in depositary receipts, HFCL has not selected a Successor Depository and has terminated the Deposit Agreement.

HFCL enhanced its success in its manufacturing and turnkey business divisions for the year ending 31 March 2015.

In the financial year ending 31 March 2016, HFCL had its highest ever revenue of Rs 2570 crore. It performed admirably across all business sectors.

With shipments to over 25 countries in FY 2016, the firm has established itself as a global provider of OFC goods (16 countries in FY 2015).

Despite fierce market rivalry from domestic and international competitors, HFCL earned its highest-ever export revenue of Rs 75.27 crore in FY 2016 (Rs 34.88 crore in FY 2015).

During FY 2015 and FY 2016, the business competed in four significant contracts announced by BSNL to establish a nationwide defence Telecom network, totalling around Rs 5000 crore.

HFCL's Goa facility completed a complete modernisation for the fiscal year ending 31 March 2017. The yearly capacity was also increased from 5 MFkm to 7.2 MFkm and several additional cable variations.

HFCL's Goa factory produced new compact designs for micro-optical fibre cables with smaller diameters and new dry-dry optical fibre cables in FY 2018.

In FY2018, HFCL was awarded a three-year contract by Nokia to deliver optical fibre cables for the EU-funded Digital Poland Project.

The Board of Directors authorised changing the company's name from Himachal Futuristic Communications Limited to HFCL Limited at its meeting on 15 May 2019.

Market Cap

The market capitalization of HFCL is Rs 9237 crore as of 18th May 2022. In the fiscal year ended 31 March 2021, the HFCL spent 3.98% of its operating revenues on interest charges and 5.72% on staff costs. The stock returns were 260.0% over three years, compared to 64.32% for the Nifty Midcap 100.


Himachal Futuristic Communications Ltd (HFCL) is a multi-faceted telecom infrastructure enabler focusing on telecom infrastructure development, system integration, and the manufacturing and selling of high-end telecom equipment and optical fibre cable (OFC). HFCL is an internet component manufacturer and one of Reliance Jio's top service providers. Maharashtra, Chhattisgarh, and Telangana supply fibre optics for Bharat Net projects. The 5G rollout is projected to boost HFCL as well.


What is Share Price of HFCL ?

HFCL share price is ₹72 As on 24 September, 2023 | 08:21

What is the Market Cap of HFCL ?

The Market Cap of HFCL is ₹10330 Cr As on 24 September, 2023 | 08:21

What is the P/E ratio of HFCL ?

The P/E ratio of HFCL is 32.5 As on 24 September, 2023 | 08:21

What is the PB ratio of HFCL ?

The PB ratio of HFCL is 3.3 As on 24 September, 2023 | 08:21

Who is the owner of HFCL?

Mahendra Nahata, along with Dr Deepak Malhotra and Vinay Maloo.

What are the key peers of the HFCL?

The top 5 Peers for HFCL are ITI Ltd., Optiemus Infracom Ltd., MRO-TEK Realty Ltd., Kavveri Telecom Products Ltd., and Shyam Telecom Ltd.