HFCL quarterly results and financials

HFCL (HFCL)₹206.47−4.63%(9 Nov 2026 close)Telecom - Infrastructure

Key facts

In the Sep 2026 quarter (consolidated), HFCL reported sales of ₹2,544 Cr, up 143.6% from Sep 2025, and net profit of ₹394 Cr, up 446.7% year on year. For the year to Mar 2026, sales were ₹4,951 Cr and net profit ₹329 Cr.

Sales (Sep 2026): ₹2,544 Cr
Net profit (Sep 2026): ₹394 Cr
Sales (FY Mar 2026): ₹4,951 Cr
Net profit (FY Mar 2026): ₹329 Cr
EPS (Sep 2026): ₹2.36
Borrowings (Mar 2026): ₹1,899 Cr

Company filings, consolidated accounts; latest reported quarter Sep 2026

HFCL quarterly results

₹ crore unless stated; each column is a quarter.

HFCL Quarterly results
	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Sales	1,032	1,327	1,158	1,094	1,013	801	871	1,044	1,211	1,825	1,916	2,544
Expenses	913	1,127	981	933	858	836	841	851	981	1,507	1,498	1,908
Operating Profit	117	196	175	158	152	−36.91	27.92	189	227	313	413	629
OPM %	11.0%	15.0%	14.9%	14.0%	15.0%	−4.6%	3.3%	18.0%	19.0%	16.9%	22.0%	25.0%
Other Income	47.12	14.04	10.02	15.03	21.04	14.03	15.03	13.03	17.05	22.04	31.08	27.07
Interest	37.02	40.03	42.05	45.01	47.07	51.02	56.05	61.04	63.07	63.01	62.07	65.06
Depreciation	18.94	19.96	23.93	24.92	25.95	29.94	31.92	35.94	43.90	44.86	50.91	53.85
Profit before tax	108	149	119	102	99.81	−105	−44.93	106	138	228	331	538
Tax %	24.0%	26.9%	7.0%	27.9%	28.0%	−21.0%	−34.1%	32.0%	26.0%	18.9%	26.0%	27.0%
Net Profit	82.01	109	111	72.98	72.96	−82.95	−29.01	72.04	102	184	246	394
EPS (Rs)	0.59	0.75	0.78	0.50	0.50	−0.57	−0.23	0.48	0.65	1.16	1.50	2.36

HFCL profit and loss

₹ crore unless stated; years end in March. TTM is the last four quarters.

HFCL Profit and loss
	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	2,875	2,133	3,227	4,737	3,840	4,426	4,732	4,745	4,469	4,066	4,951	7,496
Expenses	2,593	1,938	2,936	4,308	3,339	3,866	4,067	4,117	3,873	3,605	4,177	5,894
Operating Profit	272	187	282	417	492	549	649	617	581	448	763	1,582
OPM %	10.0%	9.0%	9.0%	9.0%	12.9%	11.9%	13.9%	12.9%	13.0%	10.9%	14.9%	21.1%
Other Income	−29.07	21.05	24.05	40.12	22.06	31.07	37.10	47.11	102	58.13	63.13	97.24
Interest	62.06	61.99	64.08	92.09	115	175	166	152	147	185	242	253
Depreciation	25.94	21.95	22.93	26.94	41.92	68.85	77.76	82.81	81.84	106	157	194
Profit before tax	156	124	219	338	357	336	441	430	453	217	427	1,234
Tax %	0.0%	0.0%	21.9%	32.0%	34.0%	26.9%	25.9%	25.9%	25.9%	20.0%	22.9%	—
Exceptional items	−86.97	2.01	−0.99	−1.99	0.00	−3.01	−5.01	0.00	0.00	0.00	−1.99	—
Net Profit	156	124	172	232	237	246	326	318	338	173	329	926
EPS (Rs)	1.27	0.98	1.36	1.72	1.78	1.85	2.28	2.17	2.28	1.24	2.03	5.67
Dividend payout %	0.0%	0.0%	4.0%	6.0%	0.0%	8.0%	8.0%	9.0%	9.0%	8.0%	10.0%	—

HFCL balance sheet

₹ crore, at each year end.

HFCL Balance sheet
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	124	124	124	124	127	128	128	138	139	144	144	154
Reserves	755	719	843	1,058	1,318	1,545	1,795	2,671	2,982	3,826	3,951	4,757
Borrowings	397	544	540	468	589	734	941	784	938	991	1,523	1,899
Other Liabilities	575	795	777	946	1,268	1,434	2,369	1,598	1,436	1,547	1,954	2,090
Total Liabilities	1,851	2,182	2,283	2,595	3,303	3,842	5,234	5,190	5,495	6,508	7,573	8,900
Fixed Assets	199	175	188	196	238	505	509	528	548	652	853	1,218
CWIP	4.02	1.01	2.01	10.03	86.30	34.11	36.12	108	269	471	604	487
Investments	271	56.85	49.88	54.86	59.79	57.81	40.85	54.84	69.74	194	158	135
Other Assets	1,378	1,950	2,043	2,334	2,920	3,245	4,649	4,499	4,607	5,192	5,959	7,061
Inventories	263	310	245	214	265	344	436	574	759	775	901	1,417
Trade receivables	365	1,112	1,178	1,180	1,470	1,608	2,605	1,894	1,882	2,212	1,889	2,209
Cash & equivalents	161	87.11	97.10	132	159	192	306	529	324	336	491	469
Total Assets	1,851	2,182	2,283	2,595	3,303	3,842	5,234	5,190	5,495	6,508	7,573	8,900

HFCL cash flow

₹ crore, for each year.

HFCL Cash flow
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from operating activity	129	0.00	136	208	34.13	173	145	206	236	−45.11	397	−379
Cash from investing activity	−44.81	36.85	−24.92	−29.86	−149	−166	−164	−456	−43.85	−448	−516	−323
Cash from financing activity	−73.74	−54.77	−114	−116	66.73	−6.98	24.90	247	−145	452	169	667
Net cash flow	9.99	−18.01	−2.99	60.98	−48.99	−0.99	4.99	−4.99	45.97	−39.98	46.99	−32.99
Capex	17.96	57.88	34.94	40.94	177	168	106	183	342	409	408	344
Free cash flow	111	−50.91	110	166	−143	4.99	40.89	22.93	−105	−453	−11.97	−721
CFO / OP %	54.1%	12.1%	103.1%	102.1%	15.1%	53.1%	30.1%	41.1%	54.1%	13.1%	89.1%	−43.9%

HFCL ratios

Working-capital days and returns, by year.

HFCL Ratios
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor days	51	140	201	133	112	152	214	145	144	180	169	162
Inventory days	259	192	140	56	41	96	65	98	113	135	145	191
Days payable	320	307	260	148	134	227	262	173	131	141	174	136
Cash conversion cycle	−9	26	81	42	20	22	18	72	127	175	141	218
Working capital days	74	111	133	83	61	90	69	84	123	162	178	207
ROCE %	36.1%	24.1%	13.1%	18.1%	24.1%	21.1%	20.1%	19.1%	15.1%	13.1%	8.1%	11.1%

HFCL: frequently asked questions

What are the latest quarterly results of HFCL?

For the Sep 2026 quarter, HFCL reported sales of ₹2,544 Cr, up 143.6% year on year and net profit of ₹394 Cr, up 446.7% year on year. The operating margin was 25.0%.

What is the annual revenue of HFCL?

HFCL's sales for the year to Mar 2026 were ₹4,951 Cr; over the last twelve months they were ₹7,496 Cr.

What is the net profit of HFCL?

Net profit for the year to Mar 2026 was ₹329 Cr, and ₹926 Cr over the last twelve months. Earnings per share over the same trailing period were ₹5.67.

How much debt does HFCL have?

HFCL reported borrowings of ₹1,899 Cr at Mar 2026, against cash and equivalents of ₹469 Cr.

What is the free cash flow of HFCL?

Cash from operations was −₹379 Cr in the year to Mar 2026; after capital spending, free cash flow was −₹721 Cr.

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