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Revenue
₹801 Cr
verified against source
Revenue YoY
-8.98%
reported change
EBITDA
₹507 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
HFCL reported FY25 consolidated revenue of INR 4,064 crore, down ~9% YoY, impacted by subdued optical fiber cable demand and slower EPC execution. EBITDA surged to INR 507 crore (vs INR 82 crore in FY24) due to a low base, while PAT fell 49% to INR 173 crore. Q4 revenue was weak at INR 800.72 crore with EBITDA margin of just 2.79%. Management guided for 25-30% revenue growth in FY26, driven by optical fiber cable doubling to ~INR 2,200 crore, defense revenue starting from Q2, and strong order book of INR 9,967 crore. Key growth drivers include full capacity utilization, data center demand, and export recovery. Risks include delayed defense trials and customer payment uncertainties in EPC.
Colored figures show movement against the previous available record.
Guidance to track
- Overall revenue expected to grow 25-30% in FY26, with major growth starting from Q2.
- Revenue from optical fiber cable and associated business expected to grow by ~100% in FY26, driven by data center and export demand.
- Management expects EBITDA margins to remain stable around FY24 levels (approx. 12-13%), not FY25 levels.
- Capex of INR 138 crore planned for expanding optical fiber cable capacity, with orders placed and LCs opened.
Risks flagged
- Electronic fuze trials delayed due to non-supply of ammunition by Munition India Limited, pushing revenue to H2 FY26.
- Management refused a INR 2,400 crore EPC order due to payment uncertainty, highlighting ongoing working capital risks.
- Exports face potential impact from US reciprocal tariffs, though current 10% tariff is manageable.
- Weak Q4 FY25 performance and Q1 FY26 being a transition quarter could delay the expected rebound.
Key quotes
- I think the next five years, the trend is going to be upwards, led by the US. Because the data centers are where they are mushrooming in the US is incredible.
- This is one product, which would be a golden product, I can assure you.
- I refused INR 2,400 crore order. I just refused. I did not take.
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