# HFCL (HFCL) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/hfcl

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹211.3
- Change: -6.62%
- As of: 2026-09-25
- 1D return: -6.62%
- 5D return: -14.05%
- 1M return: +3.75%
- Latest complete quarter: fy27_q2

## Faxioms Analysis

_As of 2026-11-06_

### Technical Outlook

HFCL presents a mixed technical picture as of the latest close on 2026-09-25 at ₹211.3, characterized by a divergence between short-term weakness and longer-term strength. On the daily chart, the stock is in a bearish phase, trading below its 20-day EMA, 50-day SMA, and Supertrend, with an ADX of 26.82 indicating established downward momentum. This recent pullback follows an extreme downward gap on 2026-09-25 (-6.6%) and has placed the price near the lower end of its 20-day range (+18.5%). However, the weekly and monthly trends remain bullish, with prices above all key moving averages and Supertrends, supported by strong ADX readings (49.21 weekly, 55.13 monthly). The stock remains significantly elevated relative to its 52-week low (+246.7%) but is currently 16% below its available high. Key resistance lies at ₹216.18 (2.31% above), while immediate support is found at ₹207.34 (1.87% below). A break below ₹207.34 could signal further downside toward ₹202.32, whereas a sustained move above ₹216.18 would be required to confirm a resumption of the broader bullish trend.

- Daily Trend: Bearish structure with price below 20/50-period EMAs/SMAs and Supertrend; ADX 26.82 confirms established downward momentum following a -6.6% gap down on 2026-09-25.
- Longer-Term Context: Weekly and Monthly trends remain bullish, with price above all major moving averages and Supertrends; ADX levels (49.21 weekly, 55.13 monthly) indicate strong underlying trend conviction.
- Key Levels: Immediate resistance at ₹216.18 (+2.31%); next resistance at ₹220.03 (+4.13%). Immediate support at ₹207.34 (-1.87%); secondary support at ₹202.32 (-4.25%).
- Risk Profile: High volatility environment with annualized volatility at +47.8% and current drawdown of -16.0%; price is positioned +76.9% into its 252-day range.

- Inside Bar

### News Context

In early November 2026, HFCL emerged as a prominent Diwali stock pick among brokerages, reflecting analyst confidence in its strategic pivot. Centrum Finverse Research and Arihant Capital Markets highlighted the company’s transformation into a global optical connectivity and defence technology player as a key growth driver. This shift is underpinned by rising AI-driven fibre demand, a record order book, and an emerging defence franchise supported by an aerospace acquisition. While both firms maintain 'Buy' ratings, they assigned divergent target prices of ₹290 (Centrum) and ₹495 (Arihant), indicating varying views on near-term valuation upside. Analysts also noted a recent EPC loss, attributing it to timing issues rather than structural weakness. These developments signal that market participants are closely monitoring HFCL’s ability to monetize its expanded defence and telecom capabilities amidst short-term operational fluctuations.

- Brokerage Consensus: Centrum Finverse Research and Arihant Capital Markets included HFCL in their top Diwali picks for Samvat 2083, citing corrected valuations and strong growth prospects across telecom and power equipment sectors.
- Strategic Transformation: Analysts identify HFCL’s shift toward global optical connectivity and defence technology as a primary catalyst, driven by AI-related fibre demand and an aerospace acquisition bolstering its defence franchise.
- Valuation Targets: Arihant Capital Markets set a 'Buy' target price of ₹495, while Centrum Finverse Research projected upside potential of 20%–32%, with a specific target of ₹290.
- Operational Caveat: Both brokerages acknowledged a recent EPC loss but attributed it to timing issues, maintaining positive outlooks despite this short-term financial headwind.

- [Samvat 2083 stock Muhurat Trading 2026 Stocks to Buy: HFCL, Varun Beverages, Greaves Cotton - List by Centrum for Diwali](https://www.livemint.com/market/stock-market-news/samvat-2083-stock-muhurat-trading-2026-stocks-to-buy-hfcl-varun-beverages-greaves-cotton-list-by-centrum-for-diwali-11793864066141.html)
- [HFCL shares: Why this multibagger stock is among brokers' top Diwali picks; targets](https://www.businesstoday.in/markets/stocks/story/hfcl-shares-why-this-multibagger-stock-is-among-brokers-top-diwali-picks-targets-565616-2026-11-04)

### Official Filings

HFCL Limited reported record financial performance for Q2 FY27 (ended September 30, 2026), with consolidated revenue surging 143.62% year-on-year to ₹2,541.79 crore and profit after tax rising 448.14% to ₹394.22 crore. The company raised its full-year FY27 revenue growth guidance to at least 80%, citing a robust order book of ₹28,911 crore and strong demand in AI infrastructure and hyperscale data centers. Strategic developments include the incorporation of HFCL Connectivity Systems Limited as a wholly-owned subsidiary on October 22, 2026, to manage telecom network operations, and an ongoing aerospace acquisition with a ₹1,600 crore unexecuted order book expected to close in the current quarter. Management also outlined plans for ₹1,800 crore in backward integration capex for optical fiber and preform manufacturing, targeting ₹500 crore in defense revenue for FY27.

- HFCL's Q2 FY27 consolidated revenue reached ₹2,541.79 crore (+143.62% YoY) with PAT at ₹394.22 crore (+448.14% YoY).
- Full-year FY27 revenue growth guidance raised to ≥80%, supported by an order book of ₹28,911 crore.
- Incorporated HFCL Connectivity Systems Limited (HCSL) as a wholly-owned subsidiary on October 22, 2026, with initial capital of ₹1 Lakh.
- Aerospace acquisition with ₹1,600 crore unexecuted order book is expected to close in the current quarter.

- [HFCL Limited has informed the Exchange about Transcript |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/AHMED_26102026200652_HFCL_STX_IC_19102026_Transcript.pdf)
- [HFCL LIMITED has informed the Exchange about Transcripts - earnings or quarterly calls |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_4160_WebXMLFile_20261026_202628566.xml)
- [HFCL LIMITED has informed the Exchange regarding Acquisition of to be incorporated companies |SUBJECT: Acquisition of 'to be incorporated companies'-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_4160_WebXMLFile_20261023_133507078.xml)
- [HFCL Limited has informed the Exchange about Incorporation of HFCL Connectivity Systems Limited, as a Wholly-Owned Subsidiary Company of HFCL Limited ( HFCL / Company ) |SUBJECT: Acquisition](https://nsearchives.nseindia.com/corporate/AHMED_22102026204758_HFCL_STX_Subsidiary_22102026.pdf)
- [HFCL Limited has informed the Exchange about Copy of Publication of Un-audited Financial Results for the 2nd Quarter and half year ended September 30, 2026, of the Financial Year 2026-27, in Newspapers |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/AHMED_20102026143102_HFCL_STX_Newspaper_20102026.pdf)
- [HFCL Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/AHMED_19102026115343_HFCL_STX_Outcome_BM_19102026.pdf)
- [HFCL Limited has informed the Exchange regarding a press release dated October 19, 2026, titled "Press Release on Un-audited Financial Results of the Company for the 2nd Quarter and Half Year ended September 30, 2026, of the Financial Year 2026-27, both on Standalone and Consolidated basis". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/AHMED_19102026120047_HFCL_STX_Outcome_BM_19102026.pdf)
- [HFCL Limited has informed the Exchange about Investor Presentation |SUBJECT: Investor Presentation](https://nsearchives.nseindia.com/corporate/AHMED_19102026142111_HFCL_STX_Investor_Presentation_19102026.pdf)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1741879_19102026062526_WEB.xml)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1741880_19102026062543_WEB.xml)

### Fundamentals

HFCL’s trajectory for the first half of FY2026-27 is defined by a sharp acceleration in top-line growth and profitability, contrasting with deteriorating cash conversion efficiency. Revenue from operations surged to ₹2,542 crore in Q2, up 144% year-on-year, driving Net Profit to ₹394 crore and EPS to ₹2.37. This follows a strong full-year FY2026 where Sales reached ₹4,949 crore and Operating Profit grew to ₹764 crore.

However, earnings quality faces headwinds. Cash from Operating Activity turned negative at -₹378 crore for FY2026 (down from positive ₹396 crore in FY2025), and the CFO/EBITDA ratio swung to -44%. Working Capital Days expanded significantly to 208 days in Mar 2026 from 141 days in Mar 2025, driven largely by Inventory Days rising to 191 days. While Fixed Assets grew to ₹1,624 crore and CWIP dropped sharply to ₹138 crore, indicating capital expenditure completion, borrowings increased to ₹1,869 crore as of Sep 2026. Institutional interest shifted notably, with FIIs increasing their stake to 17.24% in Sep 2026, while promoter holding diluted to 28.29%.

- Revenue and profit momentum: Q2 FY2026-27 revenue rose 144% YoY to ₹2,542 crore; Net Profit jumped to ₹394 crore (EPS ₹2.37).
- Cash flow divergence: CFO turned negative (-₹378 crore) in FY2026 despite profit growth; CFO/EBITDA ratio fell to -44%.
- Working capital pressure: Working Capital Days worsened to 208 days (Mar 2026) from 141 days (Mar 2025), primarily due to Inventory Days increasing to 191 days.
- Balance sheet shifts: Total assets grew to ₹10,175 crore (Sep 2026); Borrowings rose to ₹1,869 crore; FIIs increased stake to 17.24%.

### Bull Case

HFCL presents a conditional upside case anchored by structural transformation and multi-timeframe technical strength, despite near-term bearish daily momentum. The company is transitioning into a global optical connectivity and defence technology player, supported by an emerging aerospace franchise and strong demand drivers including AI-driven fibre requirements. This fundamental shift underpins analyst optimism, with Centrum Finserve Research and Arihant Capital Markets identifying HFCL as a top Diwali pick, citing corrected valuations and projecting upside potential of 20% to 32%. Brokerage target prices range from ₹290 to ₹495, reflecting confidence in the record order book and long-term growth levers.

Technically, while the daily trend is bearish (Supertrend direction: bearish) with a recent 1-month return of -11.2%, the weekly and monthly trends remain bullish. The monthly Supertrend is bullish with a Plus DI of 36.86 versus a Minus DI of 6.38, indicating sustained medium-to-long-term buying pressure. The stock has delivered significant long-term gains, with a 1-year return of +176.6% and a year-to-date return of +206.6%. The current price of ₹211.3 sits within a consolidation phase, bounded by support at ₹207.34 and resistance at ₹216.18. The constructive case holds if the stock can stabilize above key short-term supports while benefiting from the underlying order book visibility and strategic acquisitions.

- Structural Transformation & Analyst Support: HFCL is transforming into a global optical connectivity and defence tech player, with Centrum Finserve and Arihant Capital Markets citing 'Buy' ratings and target prices of ₹290 and ₹495 respectively, based on a record order book and AI-driven fibre demand.
- Multi-Timeframe Technical Strength: While daily trends are bearish, the weekly and monthly Supertrends are bullish. The monthly timeframe shows strong buying pressure (Plus DI 36.86 vs Minus DI 6.38), supporting the long-term uptrend that has yielded a +176.6% return over the past year.
- Valuation Correction Opportunity: Brokerages highlight 'corrected valuations' as a key driver for inclusion in their Diwali stock picks, suggesting that recent price pullbacks may have created entry points relative to the projected 20-32% upside potential.
- Key Levels to Monitor: The stock trades at ₹211.3, with immediate support at ₹207.34 and resistance at ₹216.18. A sustained move above these levels could signal a resumption of the broader bullish trend identified in weekly and monthly charts.

- [Samvat 2083 stock Muhurat Trading 2026 Stocks to Buy: HFCL, Varun Beverages, Greaves Cotton - List by Centrum for Diwali](https://www.livemint.com/market/stock-market-news/samvat-2083-stock-muhurat-trading-2026-stocks-to-buy-hfcl-varun-beverages-greaves-cotton-list-by-centrum-for-diwali-11793864066141.html)
- [HFCL shares: Why this multibagger stock is among brokers' top Diwali picks; targets](https://www.businesstoday.in/markets/stocks/story/hfcl-shares-why-this-multibagger-stock-is-among-brokers-top-diwali-picks-targets-565616-2026-11-04)
- [HFCL Limited has informed the Exchange about Transcript |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/AHMED_26102026200652_HFCL_STX_IC_19102026_Transcript.pdf)
- [HFCL LIMITED has informed the Exchange about Transcripts - earnings or quarterly calls |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_4160_WebXMLFile_20261026_202628566.xml)
- [HFCL LIMITED has informed the Exchange regarding Acquisition of to be incorporated companies |SUBJECT: Acquisition of 'to be incorporated companies'-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_4160_WebXMLFile_20261023_133507078.xml)
- [HFCL Limited has informed the Exchange about Incorporation of HFCL Connectivity Systems Limited, as a Wholly-Owned Subsidiary Company of HFCL Limited ( HFCL / Company ) |SUBJECT: Acquisition](https://nsearchives.nseindia.com/corporate/AHMED_22102026204758_HFCL_STX_Subsidiary_22102026.pdf)
- [HFCL Limited has informed the Exchange about Copy of Publication of Un-audited Financial Results for the 2nd Quarter and half year ended September 30, 2026, of the Financial Year 2026-27, in Newspapers |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/AHMED_20102026143102_HFCL_STX_Newspaper_20102026.pdf)
- [HFCL Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/AHMED_19102026115343_HFCL_STX_Outcome_BM_19102026.pdf)
- [HFCL Limited has informed the Exchange regarding a press release dated October 19, 2026, titled "Press Release on Un-audited Financial Results of the Company for the 2nd Quarter and Half Year ended September 30, 2026, of the Financial Year 2026-27, both on Standalone and Consolidated basis". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/AHMED_19102026120047_HFCL_STX_Outcome_BM_19102026.pdf)
- [HFCL Limited has informed the Exchange about Investor Presentation |SUBJECT: Investor Presentation](https://nsearchives.nseindia.com/corporate/AHMED_19102026142111_HFCL_STX_Investor_Presentation_19102026.pdf)

### Bear Case

HFCL faces near-term technical headwinds and elevated volatility despite strong long-term momentum. As of September 25, 2026, the daily trend is bearish with a Supertrend direction indicating downside pressure, coinciding with a -16.0% current drawdown from recent peaks. The stock has declined -11.2% over the past month and -6.6% in the last week, testing support at ₹207.34. While the monthly trend remains bullish, the high annualized volatility of +47.8% and an Average True Range (ATR) of 5.23% suggest significant price instability. Additionally, the Plus DI (25.07) has fallen below the Minus DI (32.83) on the daily chart, signaling short-term selling dominance. These factors contrast with the +206.6% year-to-date return, highlighting a potential consolidation phase after a sharp rally.

- Daily technicals are bearish as of September 25, 2026, with the Supertrend signaling downside and Minus DI (32.83) exceeding Plus DI (25.07).
- The stock is in a -16.0% current drawdown, having lost -11.2% over the past month and -6.6% in the last week.
- High volatility persists with an annualized volatility of +47.8% and an ATR of 5.23%, indicating wide price swings.
- Support is being tested at ₹207.34 (-1.87%), with further downside risk toward ₹202.32 if the immediate level breaks.

- [Samvat 2083 stock Muhurat Trading 2026 Stocks to Buy: HFCL, Varun Beverages, Greaves Cotton - List by Centrum for Diwali](https://www.livemint.com/market/stock-market-news/samvat-2083-stock-muhurat-trading-2026-stocks-to-buy-hfcl-varun-beverages-greaves-cotton-list-by-centrum-for-diwali-11793864066141.html)
- [HFCL shares: Why this multibagger stock is among brokers' top Diwali picks; targets](https://www.businesstoday.in/markets/stocks/story/hfcl-shares-why-this-multibagger-stock-is-among-brokers-top-diwali-picks-targets-565616-2026-11-04)
- [HFCL Limited has informed the Exchange about Transcript |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/AHMED_26102026200652_HFCL_STX_IC_19102026_Transcript.pdf)
- [HFCL LIMITED has informed the Exchange about Transcripts - earnings or quarterly calls |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_4160_WebXMLFile_20261026_202628566.xml)
- [HFCL LIMITED has informed the Exchange regarding Acquisition of to be incorporated companies |SUBJECT: Acquisition of 'to be incorporated companies'-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_4160_WebXMLFile_20261023_133507078.xml)
- [HFCL Limited has informed the Exchange about Incorporation of HFCL Connectivity Systems Limited, as a Wholly-Owned Subsidiary Company of HFCL Limited ( HFCL / Company ) |SUBJECT: Acquisition](https://nsearchives.nseindia.com/corporate/AHMED_22102026204758_HFCL_STX_Subsidiary_22102026.pdf)
- [HFCL Limited has informed the Exchange about Copy of Publication of Un-audited Financial Results for the 2nd Quarter and half year ended September 30, 2026, of the Financial Year 2026-27, in Newspapers |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/AHMED_20102026143102_HFCL_STX_Newspaper_20102026.pdf)
- [HFCL Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/AHMED_19102026115343_HFCL_STX_Outcome_BM_19102026.pdf)
- [HFCL Limited has informed the Exchange regarding a press release dated October 19, 2026, titled "Press Release on Un-audited Financial Results of the Company for the 2nd Quarter and Half Year ended September 30, 2026, of the Financial Year 2026-27, both on Standalone and Consolidated basis". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/AHMED_19102026120047_HFCL_STX_Outcome_BM_19102026.pdf)
- [HFCL Limited has informed the Exchange about Investor Presentation |SUBJECT: Investor Presentation](https://nsearchives.nseindia.com/corporate/AHMED_19102026142111_HFCL_STX_Investor_Presentation_19102026.pdf)

### FAQs

**What were HFCL's financial results for Q2 FY27, and how does this impact full-year guidance?**

For the quarter ended September 30, 2026, HFCL reported consolidated revenue of ₹2,541.79 crore (up 143.62% year-on-year) and profit after tax of ₹394.22 crore (up 448.14%). Management raised full-year FY27 revenue growth guidance to at least 80%, citing a robust order book of ₹28,900 crore.

**What strategic acquisitions is HFCL pursuing, and what are their financial implications?**

HFCL is acquiring an aerospace entity with an unexecuted order book of ₹1,600 crore, expected to close in the current quarter. Additionally, the company plans ₹1,800 crore in backward integration capex for optical fiber and preform manufacturing, aiming to achieve a defense revenue target of ₹500 crore for FY27.

**How has HFCL's stock performance trended over the past year compared to recent months?**

Over the past year, HFCL shares have gained +176.6%, with a year-to-date return of +206.6%. However, short-term momentum has softened, with returns of -11.2% over the last month and -6.6% over the last day. The stock currently trades near ₹211.30, with resistance levels identified at ₹216.18 and ₹220.03.

- [Samvat 2083 stock Muhurat Trading 2026 Stocks to Buy: HFCL, Varun Beverages, Greaves Cotton - List by Centrum for Diwali](https://www.livemint.com/market/stock-market-news/samvat-2083-stock-muhurat-trading-2026-stocks-to-buy-hfcl-varun-beverages-greaves-cotton-list-by-centrum-for-diwali-11793864066141.html)
- [HFCL shares: Why this multibagger stock is among brokers' top Diwali picks; targets](https://www.businesstoday.in/markets/stocks/story/hfcl-shares-why-this-multibagger-stock-is-among-brokers-top-diwali-picks-targets-565616-2026-11-04)
- [HFCL Limited has informed the Exchange about Transcript |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/AHMED_26102026200652_HFCL_STX_IC_19102026_Transcript.pdf)
- [HFCL LIMITED has informed the Exchange about Transcripts - earnings or quarterly calls |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_4160_WebXMLFile_20261026_202628566.xml)
- [HFCL LIMITED has informed the Exchange regarding Acquisition of to be incorporated companies |SUBJECT: Acquisition of 'to be incorporated companies'-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_4160_WebXMLFile_20261023_133507078.xml)
- [HFCL Limited has informed the Exchange about Incorporation of HFCL Connectivity Systems Limited, as a Wholly-Owned Subsidiary Company of HFCL Limited ( HFCL / Company ) |SUBJECT: Acquisition](https://nsearchives.nseindia.com/corporate/AHMED_22102026204758_HFCL_STX_Subsidiary_22102026.pdf)
- [HFCL Limited has informed the Exchange about Copy of Publication of Un-audited Financial Results for the 2nd Quarter and half year ended September 30, 2026, of the Financial Year 2026-27, in Newspapers |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/AHMED_20102026143102_HFCL_STX_Newspaper_20102026.pdf)
- [HFCL Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/AHMED_19102026115343_HFCL_STX_Outcome_BM_19102026.pdf)
- [HFCL Limited has informed the Exchange regarding a press release dated October 19, 2026, titled "Press Release on Un-audited Financial Results of the Company for the 2nd Quarter and Half Year ended September 30, 2026, of the Financial Year 2026-27, both on Standalone and Consolidated basis". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/AHMED_19102026120047_HFCL_STX_Outcome_BM_19102026.pdf)
- [HFCL Limited has informed the Exchange about Investor Presentation |SUBJECT: Investor Presentation](https://nsearchives.nseindia.com/corporate/AHMED_19102026142111_HFCL_STX_Investor_Presentation_19102026.pdf)
## Technical analytics

- As of: 2026-09-25
- Daily trend: Weak Downtrend
- Weekly trend: Insufficient History
- Pivot point: ₹230.06
- Risk regime: Price Risk Requires Attention

### Support levels
- 202.325
- 195
- 181.05

### Resistance levels
- 220.025
- 229.83749999999998
- 256.7

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | -6.62% |
| return_10 | -5.63% |
| return_1m | -11.22% |
| return_1y | +176.57% |
| return_20 | +3.75% |
| return_3m | -1.72% |
| return_5 | -14.05% |
| return_6m | +197.90% |
| return_since_start | +85.32% |
| return_ytd | 2.0658734764944864 |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | elevated_risk |
| label | Price risk requires attention |
| summary | Recent drawdown or price variability is high enough to warrant closer monitoring. |
| maximum_drawdown | -46.79% |
| annualized_volatility | +47.79% |

## Quarterly financials

- Latest complete quarter: fy27_q2

# HFCL Limited FY2026-27 Q2: Profit before tax up 63% sequentially as revenue reaches ₹2,542 crore

HFCL reported consolidated revenue from operations of ₹2,542 crore for the quarter ended 30 September 2026, up 33% from the previous quarter and about 144% from Q2 FY2025-26. Profit for the period rose 60% sequentially to ₹394 crore, while total expenses grew 26%, so the earnings gain came with a heavier tax charge and a larger working-capital base.

## Revenue and profit growth

Revenue from operations rose by ₹627 crore from ₹1,915 crore in Q1 FY2026-27. Profit before tax increased 63% sequentially to ₹539 crore from ₹332 crore, and profit for the period grew to ₹394 crore from ₹246 crore. Against Q2 FY2025-26, revenue from operations was ₹1,043 crore and profit for the period was ₹72 crore, while profit before tax was ₹107 crore.

Management described Q2 FY2026-27 as HFCL's best-ever quarterly performance, citing stronger scale and profitability. Profit before tax and profit after tax each rose more than fivefold year on year.

## Costs, finance costs and tax

Total expenses rose to ₹2,030 crore from ₹1,615 crore in Q1 FY2026-27, an increase of 26%, which was slower than the 33% rise in revenue. Cost of materials consumed was ₹1,377 crore and purchases of stock in trade were ₹171 crore. Employee benefit expense was ₹130 crore, depreciation and amortisation ₹54 crore and other expenses ₹211 crore, up 16% sequentially and 84% year on year.

Finance costs were ₹65 crore, compared with ₹62 crore in Q1 FY2026-27. Tax expense rose 68% sequentially to ₹144 crore, faster than the 63% increase in profit before tax. It comprised current tax of ₹152 crore and a deferred tax credit of ₹7 crore, compared with a tax expense of ₹86 crore in Q1.

## Per-share earnings

Basic EPS was ₹2.37 for Q2 FY2026-27, compared with ₹1.49 in Q1 FY2026-27 and ₹0.47 in Q2 FY2025-26. Diluted EPS was ₹2.36.

## Working capital and balance sheet

At 30 September 2026, trade receivables were ₹2,630 crore, up from ₹2,212 crore at 31 March 2026 and ₹1,898 crore at 30 September 2025. Inventories rose to ₹1,544 crore from ₹1,416 crore at 31 March 2026 and ₹1,151 crore a year earlier. Trade payables were ₹1,186 crore, compared with ₹1,007 crore at 31 March 2026 and ₹1,108 crore at 30 September 2025.

Total assets increased to ₹10,175 crore from ₹8,868 crore at 31 March 2026 and ₹7,959 crore at 30 September 2025. Equity stood at ₹5,755 crore, including ₹5,649 crore attributable to owners of the parent and ₹106 crore of non-controlling interest. Current borrowings were ₹1,189 crore and non-current borrowings ₹652 crore, compared with ₹1,323 crore and ₹390 crore, respectively, at 31 March 2026. Cash and cash equivalents closed at ₹185 crore.

## Key Takeaway

HFCL's quarter showed strong sequential and year-on-year growth in revenue and profit, with expenses rising more slowly than revenue. A sharper rise in tax expense trimmed the conversion of pre-tax profit into net profit, while higher receivables and inventories and a larger balance sheet at the reporting date are the main points to monitor alongside the earnings improvement.

### Ratios

## Shareholding pattern

- Quarter: FY2027-Q1
- As of: 2026-06-30
- Promoter holding: +28.29%
- FII holding: +15.74%
- DII holding: +10.92%
- Mutual fund holding: +8.42%
- Retail holding: +24.42%
- Promoter pledged: +0.00%

### Major reported shareholders

- MN VENTURES PRIVATE LIMITED — +13.92% (Bodies Corporate)
- NEXTWAVE COMMUNICATIONS PRIVATE LIMITED — +12.73% (Bodies Corporate)
- QUANT MUTUAL FUND - QUANT MULTI CAP FUND — +7.70%
- RELIANCE STRATEGIC BUSINESS VENTURES LIMITED — +3.17%
- SMALLCAP WORLD FUND, INC — +3.02%
- Reliance Ventures Limited — +1.48%
- FITCORE TECH-SOLUTIONS PRIVATE LIMITED — +1.45% (Bodies Corporate)
- QUADRATURE CAPITAL VECTOR SP LIMITED — +1.15%
- BNP PARIBAS FINANCIAL MARKETS — +1.07%
- MAHENDRA NAHATA — +0.09%

## Official filings

- 2026-10-26 — Generic Announcement: HFCL Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/AHMED_26102026200652_HFCL_STX_IC_19102026_Transcript.pdf)
- 2026-10-26 — Generic Announcement: HFCL Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_4160_WebXMLFile_20261026_202628566.xml)
- 2026-10-23 — Generic Announcement: HFCL Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_4160_WebXMLFile_20261023_133507078.xml)
- 2026-10-22 — Generic Announcement: HFCL Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/AHMED_22102026204758_HFCL_STX_Subsidiary_22102026.pdf)
- 2026-10-20 — Generic Announcement: HFCL Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/AHMED_20102026143102_HFCL_STX_Newspaper_20102026.pdf)
- 2026-10-19 — Generic Announcement: HFCL Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/AHMED_19102026115343_HFCL_STX_Outcome_BM_19102026.pdf)
- 2026-10-19 — Press Release: HFCL Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/AHMED_19102026120047_HFCL_STX_Outcome_BM_19102026.pdf)
- 2026-10-19 — Earnings Presentation: HFCL Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/AHMED_19102026142111_HFCL_STX_Investor_Presentation_19102026.pdf)
- 2026-10-19 — Financial Results Filing: HFCL Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1741879_19102026062526_WEB.xml)
- 2026-10-19 — Financial Results Filing: HFCL Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1741880_19102026062543_WEB.xml)
- 2026-10-19 — Generic Announcement: HFCL Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/AHMED_19102026185141_HFCL_STX_MAReport_30092026.pdf)
- 2026-10-19 — Generic Announcement: HFCL Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/AHMED_19102026195204_HFCL_STX_Outcome_Investor_Call_19102026.pdf)
- 2026-10-19 — Generic Announcement: HFCL Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_4160_WebXMLFile_20261019_195359511.xml)
- 2026-10-17 — Generic Announcement: HFCL Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/AHMED_17102026111539_HFCL_STX_ESG_Letter_17102026.pdf)
- 2026-10-16 — Shareholding Disclosure: HFCL Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SHP_1739523_16102026112900_WEB.xml)
- 2026-10-14 — Generic Announcement: HFCL Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_4160_WebXMLFile_20261014_130050265.xml)
- 2026-10-14 — Generic Announcement: HFCL Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_4160_WebXMLFile_20261014_130455345.xml)
- 2026-10-14 — Board Meeting Notice: HFCL Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_4160_WebXMLFile_20261014_130050265.xml)
- 2026-10-13 — Board Meeting Notice: HFCL Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/AHMED_13102026131921_HFCL_STX_BM_19102026.pdf)
- 2026-10-13 — Generic Announcement: HFCL Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/AHMED_13102026133446_HFCL_STX_BM_19102026.pdf)
- 2026-10-13 — Generic Announcement: HFCL Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/AHMED_13102026190800_HFCL_STX_Intimation_ConCall_30092026.pdf)
- 2026-10-13 — Generic Announcement: HFCL Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/AHMED_13102026195132_HFCL_STX_Discl_74_5_30092026.pdf)
- 2026-10-09 — Generic Announcement: Hero FinCorp Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/HEROFINCORP_09102026121347_HFCL_EndUseIntimation_CPs.pdf)
- 2026-10-01 — Generic Announcement: HFCL Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/AHMED_01102026171846_HFCL_STX_Voting_Results_AGM_29092026.pdf)
- 2026-10-01 — Generic Announcement: HFCL Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/AHMED_01102026200933_HFCL_STX_Intimation_Nivetti_Fifth_Addendum_01102026_1.pdf)

## News and market events

- 2026-11-07 — Economic Times: **Diwali 2026 wealth creators: 8 BSE 500 stocks shrug off market weakness, deliver up to 191% returns; do you own any?** — Eight BSE 500 stocks, including Aditya Infotech and HFCL, delivered returns exceeding 100% since Diwali 2025, outperforming the broader market which saw the Nifty 50 decline nearly 3%. As Indian equities enter Samvat 2083, brokerages such as ICICI Direct and Motilal Oswal remain constructive, projecting earnings-led growth with double-digit EPS expansion expected in FY27. These firms favor selective investments in sectors like banking, manufacturing, and consumption, citing improved valuations and fundamental delivery as key drivers for future returns. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/diwali-2026-wealth-creators-8-bse-500-stocks-shrug-off-market-weakness-deliver-up-to-191-returns-do-you-own-any/articleshow/135628626.cms)
- 2026-11-07 — Economic Times: **Diwali Muhurat Trading 2026: Samco Securities picks 12 stocks and ETFs for investors; BSE, Adani Power among top bets** — Samco Securities has unveiled a basket of 12 investment picks for the Diwali Muhurat Trading session on November 8, 2026, comprising 10 Indian stocks and two US-listed ETFs. The recommendations span sectors including power, IT services, aerospace, and commodities, with specific technical entry levels, stop-losses, and target prices provided for each asset. The international ETF selections are intended to offer exposure to energy and healthcare while hedging against risks such as rising crude oil prices and a weakening rupee. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/diwali-muhurat-trading-2026-samco-securities-picks-12-stocks-and-etfs-for-investors-bse-adani-power-among-top-bets/articleshow/135627545.cms)
- 2026-11-07 — Mint: **Muhurat Trading 2026 Diwali stocks to buy for upto 109% upside: BSE, Adani Power, HFCL, TechM - SAMCO's 10 shares | List** — Samco Wealth has recommended 10 stocks across sectors such as power, IT, and defense for Muhurat Trading on November 7, emphasizing diversification following a volatile market year. The brokerage highlighted companies including Azad Engineering, Adani Power, HFCL, Tech Mahindra, and BSE, citing strong quarterly earnings growth and order book visibility as key drivers for the new Samvat. — [Source](https://www.livemint.com/market/stock-market-news/muhurat-trading-2026-diwali-stocks-to-buy-for-upto-109-upside-bse-adani-power-hfcl-techm-samcos-10-shares-list-11794024034171.html)
- 2026-11-06 — Mint: **Lighting up your Diwali! Cupid, HFCL, Sterlite Tech, MTAR: 10 multibagger stocks that soared over 150% in Samvat 2082** — Despite a challenging Samvat 2082 marked by benchmark declines and geopolitical tensions, 16 Nifty 500 stocks gained over 100%, with Cupid and Sterlite Technologies leading with returns of 570% and 556% respectively. This performance highlights a significant divergence in stock-specific returns against the broader market weakness, as noted by PL Capital. Looking ahead to Samvat 2083, Kotak Neo suggests that while short-term volatility may persist due to global uncertainties, supportive corporate earnings and attractive entry points could offer long-term wealth creation opportunities for discip — [Source](https://www.livemint.com/market/stock-market-news/lighting-up-your-diwali-cupid-hfcl-sterlite-tech-mtar-10-multibagger-stocks-that-soared-over-150-in-samvat-2082-11793956981821.html)
- 2026-11-05 — Mint: **Samvat 2083 stock Muhurat Trading 2026 Stocks to Buy: HFCL, Varun Beverages, Greaves Cotton - List by Centrum for Diwali** — Centrum Finverse Research has identified HFCL, Greaves Cotton, Manorama Industries, Inventurus Knowledge Solutions, and Varun Beverages as its Diwali stock picks for Samvat 2083, citing corrected valuations and growth prospects. The brokerage projects upside potential ranging from 20% to 32% for these fundamental stocks across sectors including telecom, power equipment, food products, FMCG, and business process management. — [Source](https://www.livemint.com/market/stock-market-news/samvat-2083-stock-muhurat-trading-2026-stocks-to-buy-hfcl-varun-beverages-greaves-cotton-list-by-centrum-for-diwali-11793864066141.html)
- 2026-11-04 — BUSINESSTODAY: **HFCL shares: Why this multibagger stock is among brokers' top Diwali picks; targets** — Brokerages Centrum Finserve and Arihant Capital Markets have included HFCL Ltd among their top Diwali picks, citing the company's structural transformation into a global optical connectivity and defence technology player. Analysts highlight strong growth levers including AI-driven fibre demand, a record order book, and an emerging defence franchise supported by an aerospace acquisition. While noting a recent EPC loss attributed to timing issues, both firms maintain 'Buy' ratings with target prices of Rs 290 and Rs 495 respectively. — [Source](https://www.businesstoday.in/markets/stocks/story/hfcl-shares-why-this-multibagger-stock-is-among-brokers-top-diwali-picks-targets-565616-2026-11-04)
- 2026-10-30 — BUSINESSTODAY: **Multibagger bets? HFCL, Inox Wind shares among Arihant's Diwali picks, up to 200% upside seen** — Arihant Capital Markets identified HFCL Ltd, Sammaan Capital Ltd, Sheela Foam Ltd, Texmaco Rail & Engineering Ltd, and Inox Wind Ltd as top Diwali investing ideas, assigning buy ratings and target prices that imply significant upside potential ranging from 99% to 192%. The brokerage cited specific catalysts for each company, including debt restructuring for Sammaan Capital, synergy realization for Sheela Foam, order execution for Texmaco Rail, and margin expansion for Inox Wind. — [Source](https://www.businesstoday.in/markets/stocks/story/multibagger-bets-hfcl-inox-wind-shares-among-arihants-diwali-picks-up-to-200-upside-seen-564733-2026-10-30)
- 2026-10-21 — Mint: **HFCL share price jumps 5% to hit 52-week high; stock soars 371% from year low: Should you buy? Key levels to watch** — HFCL shares rose 5% to a 52-week high of ₹282.10 after record quarterly results and an upbeat growth outlook. Revenue and profit surged, while a ₹28,911 crore order book offered business visibility. Analysts cited support near ₹230-255 and cautioned that the steep rally could bring volatility. — [Source](https://www.livemint.com/market/stock-market-news/hfcl-share-price-jumps-5-to-hit-52-week-high-stock-soars-371-from-year-low-should-you-buy-key-levels-to-watch-11792562156356.html)
- 2026-10-21 — BUSINESSTODAY: **YES Bank, Vodafone Idea, HFCL: Top stocks to trade — Check key levels, resistances & support** — Stocks to buy, Stock picks, Stocks to trade, trading views, Vodafone Idea, YES Bank, HFCL, Vodafone Idea shares, Idea shares, YES Bank shares, HFCL shares, Vodafone Idea share price, Idea share price, YES Bank share price, HFCL share price, Vodafone Idea stock price, Idea stock price, YES Bank stock price, HFCL stock price, Vodafone Idea target price, Idea target price, YES Bank target price, HFCL target price — [Source](https://www.businesstoday.in/markets/trending-stocks/story/yes-bank-vodafone-idea-hfcl-top-stocks-to-trade-check-key-levels-resistances-support-562664-2026-10-21)
- 2026-10-20 — BUSINESSTODAY: **HFCL shares: Why this multibagger stock gets 53% upside target despite 290% jump in 2026** — HFCL share price, HFCL target price, stock to buy, HFCL share price today, HFCL target price 2026, HFCL news — [Source](https://www.businesstoday.in/markets/stocks/story/hfcl-shares-why-this-multibagger-stock-gets-53-upside-target-despite-290-jump-in-2026-562586-2026-10-20)
- 2026-10-20 — Economic Times: **HFCL Q2 net profit jumps 448% to Rs 394 crore** — Net profit surged 448.14% year-on-year to ₹394.22 crore from ₹71.92 crore a year ago, while revenue increased 143.62% to ₹2,541.79 crore from ₹1,043.34 crore. Sequentially, profit increased 60.49% from the previous month, and revenue rose 32.73%. — [Source](https://economictimes.indiatimes.com/markets/stocks/earnings/hfcl-q2-net-profit-jumps-448-to-rs-394-crore/articleshow/135059308.cms)
- 2026-10-19 — REDIFF.COM: **HFCL achieves highest-ever quarterly net profit of Rs 394 crore, driven by optical fibre demand from AI data centres** — Domestic telecom gear maker HFCL reported its highest-ever quarterly consolidated net profit of Rs 394.22 crore for the second quarter ended September 30, 2026, a multi-fold increase from Rs 72 crore a year ago, primarily due to strong demand for optical fibre cables from AI data centres. — [Source](https://www.rediff.com/business/report/hfcl-q2-net-profit-soars-to-record-rs-394-crore-on-ai-data-centre-optical-fibre-demand/20261019.htm)
- 2026-10-19 — FEEDS: **Q2 Results Live: Bhansali Engineering Profit Jumps 47%, Union Bank Profit Zooms 30%** — Q2 Results Live: Bajaj Finance, Hindustan Zinc, IREDA, LTTS, and UltraTech Cement are among 35 companies scheduled to announce their Q2 FY27 results today. Track the latest earnings announcements, financial performance and market reaction live on NDTV Profit. — [Source](https://www.ndtvprofit.com/markets/q2-results-live-updates-bajaj-finance-hfcl-hindustan-zinc-ultratech-cement-union-bank-35-companies-to-announce-earnings-today-12204899)
- 2026-10-19 — The Hindu: **HFCL stock hits upper circuit as Q2 FY27 profits surge over 5x y-o-y** — Consolidated revenue for Q2 FY27 rose 143.62% year-on-year to ₹2,541.79 crore, up from ₹1,043.34 crore in the same quarter last year — [Source](https://www.thehindubusinessline.com/markets/stock-markets/hfcl-stock-hits-upper-circuit-as-q2-fy27-profits-surge-over-5x-y-o-y/article71602344.ece)
- 2026-10-19 — Economic Times: **HFCL Q2 Results: Profit zooms 448% YoY to Rs 394 crore; stock hits 5% upper circuit** — HFCL reported a 448% year-on-year jump in Q2FY27 net profit to Rs 394 crore, compared with Rs 71.92 crore a year ago. Revenue surged 144% to Rs 2,542 crore, while EBITDA rose 224% to Rs 658 crore. EBITDA margin expanded 640 basis points to 25.89%. The optical fibre and AI beneficiarys stock hit the 5% upper circuit at Rs 268.70 on the BSE and has gained nearly 300% so far this year. — [Source](https://economictimes.indiatimes.com/markets/stocks/earnings/hfcl-q2-results-profit-zooms-448-yoy-to-rs-394-crore-stock-hits-5-upper-circuit/articleshow/135042693.cms)
- 2026-10-19 — BUSINESSTODAY: **HFCL Q2 earnings: Net profit rises five times, shares hit upper circuit** — HFCL, optical fibre cables, HFCL SHARES RISE, HFCL SHARES RISE, hfcl Q2 earnings, international customer, HFCL net profit decline, EBITDA growth, BSE share price, overseas subsidiary, contract execution, financial results Q2 2026 — [Source](https://www.businesstoday.in/markets/stocks/story/hfcl-q2-earnings-net-profit-rises-five-times-shares-hit-upper-circuit-562405-2026-10-19)
- 2026-10-19 — CNBC-TV18: **HFCL Q2 Results: Stock in 5% upper circuit after multi-fold jump in topline, operating profit** — HFCL's order book now stands at ₹28,911 crore, together with advanced opportunity pipeline, provides multi-year revenue visibility — [Source](https://www.cnbctv18.com/market/hfcl-q2-results-profit-revenue-ebitda-grow-multifold-margin-expands-share-price-upper-circuit-2026-returns-20014853.htm)
- 2026-10-19 — The Hindu: **Q2 Results Today Live: Bajaj Finance, UltraTech Cement, Hindustan Zinc, Union Bank of India, LTTS, Piramal Finance, IREDA to announce Q2 results, HDFC Bank, Axis Bank, ICICI Bank, Yes Bank shares in focus after Q2 results** — Q2 Results Today, 19th October 2026 Live Updates: Stay tuned to businessline for more — [Source](https://www.thehindubusinessline.com/markets/q2-results-today-live-updates-bajaj-finance-ultratech-cement-hindustan-zinc-union-bank-of-india-ltts-piramal-finance-ireda-company-results-hdfc-bank-axis-bank-yes-icici-results-19-october-2026/article71599553.ece)
- 2026-10-16 — BUSINESSTODAY: **Multibagger HFCL shares surge over 265% YTD; brokerage initiates 'Buy' ahead of Jio IPO** — HFCL, HFCL shares, HFCL share price, Nuvama Institutional Equities, Jio Platforms IPO, Mahendra Nahata, Jio IPO price band, multibagger stocks, telecom stocks, data centre investments, Reliance Jio — [Source](https://www.businesstoday.in/markets/stocks/story/multibagger-hfcl-shares-surge-over-265-ytd-brokerage-initiates-buy-ahead-of-jio-ipo-561986-2026-10-16)
- 2026-10-15 — BUSINESSTODAY: **Jio Platforms IPO: How HFCL promoter Mahendra Nahata's investment could rise over 110 times** — Mahendra Nahata Jio Platforms investment, Jio Platforms IPO, Mahendra Nahata net worth, Mahendra Nahata Jio stake, HFCL promoter Mahendra Nahata, Jio Platforms IPO valuation, Mahendra Nahata investment returns, Jio Platforms share price, Jio IPO issue size, Jio Platforms IPO price band, Infotel Broadband Reliance Jio deal, Jio Platforms IPO October 2026, Jio Platforms IPO shareholder details, HFCL shareholding in Jio Platforms, HFCL shares — [Source](https://www.businesstoday.in/markets/ipo-corner/story/jio-platforms-ipo-how-hfcl-promoter-mahendra-nahatas-investment-could-rise-over-110-times-561864-2026-10-15)
- 2026-10-14 — FREEPRESSJOURNAL.IN: **Maithan Alloys Acquires 7.8 Lakh Shares In HFCL For ₹20 Crore** — Maithan Alloys Limited has acquired 7.8 lakh equity shares in HFCL Limited for a total consideration of ₹20 crore, representing a 0.05% stake in the listed entity. The acquisition was completed on 13 October 2026. — [Source](https://www.freepressjournal.in/business/maithan-alloys-acquires-78-lakh-shares-in-hfcl-for-20-crore)
- 2026-10-06 — Mint: **HFCL shares hit 5% upper circuit again: Up 338% from 52-week low | Buy? Check target, stop loss** — HFCL shares rallied sharply, hitting a new 52-week high of ₹262.25, up 338% from its low. The company reported a net profit of ₹245.64 crore in Q1FY27 and has a record order book of ₹26,665 crore. — [Source](https://www.livemint.com/market/stock-market-news/hfcl-shares-hit-5-upper-circuit-again-up-338-from-52-week-low-buy-check-target-stop-loss-11791264874355.html)
- 2026-10-01 — Mint: **HFCL stock jumps over 15% in 3 sessions: Will the bullish momentum continue? Check support, and resistance levels** — HFCL shares rose 5% to ₹237.95 on October 1, marking a 15% gain over three sessions. The stock is up 227% in six months and over 223% in a year, signaling strong performance. The company also approved a dividend of ₹0.20 at its recent AGM. — [Source](https://www.livemint.com/market/stock-market-news/hfcl-stock-jumps-over-15-in-3-sessions-will-the-bullish-momentum-continue-check-support-and-resistance-levels-11790830648519.html)
- 2026-09-23 — The Hindu: **Data-centre bet makes ESDS one of India’s best new listings** — ESDS’s performance is putting companies across India’s data-centre ecosystem under greater investor scrutiny amid expectations of strong growth — [Source](https://www.thehindubusinessline.com/markets/stock-markets/data-centre-bet-makes-esds-one-of-indias-best-new-listings/article71498086.ece)
- 2026-09-23 — Mint: **Raja Venkatraman recommends three stocks for 23 September** — Market expert Raja Venkatraman shares his top stock picks for 23 September. Here’s his technical outlook and trade strategy. — [Source](https://www.livemint.com/market/stock-market-news/raja-venkatraman-recommends-three-stocks-for-23-september-11790090181176.html)

## Business profile

**Strategic vision:** Engineers and manufactures telecom equipment and digital infrastructure solutions.

### Business segments
- **Telecom Equipment Manufacturing:** HFCL manufactures a wide range of telecommunications equipment including optical fiber, optical fiber cables, access solutions, and IP/MPLS routers.
- **Integrated Solutions:** HFCL provides integrated solutions for digital infrastructure and defense sectors, tailored for telecom providers, public sector, and enterprises.
- **Defense Solutions:** HFCL offers defense solutions including Ground Surveillance Radar, Software Defined Radios, and various types of fuzes.

### Competitive strengths
- Indigenous technology development for defense applications.
- Comprehensive portfolio spanning optical fiber, cables, access solutions, and routers.
- Integrated solutions for telecom, public sector, and enterprise digital infrastructure.

## Related stocks

- [ITI Limited (Telecom)](https://faxioms.com/stocks/iti) — -0.66%
- [Tata Communications Limited (Telecom)](https://faxioms.com/stocks/tatacomm) — -0.51%
- [Bharti Airtel Limited (Telecom)](https://faxioms.com/stocks/bhartiartl) — +2.45%
- [Bharti Hexacom Limited (Telecom)](https://faxioms.com/stocks/bhartihexa) — -2.38%
- [Vodafone Idea Limited (Telecom)](https://faxioms.com/stocks/idea) — -1.01%

## Freshness and sources

- Data as of: 2026-09-25
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/hfcl
Markdown representation: https://faxioms.com/stocks/hfcl?render=md