| ₹ crore | Q2 FY27 | Q2 FY26 | Change |
|---|---|---|---|
| Revenue | 2,542 | 1,043 | +143.6% |
| EBITDA | 631 | 190 | +231.3% |
| EBITDA margin | 24.8% | 18.2% | +6.6 pts |
| Profit before tax | 539 | 107 | +405.9% |
| Net profit | 394 | 71.9 | +448.1% |
| EPS | ₹2.37 | ₹0.47 | +404.3% |
Amounts on the left scale in ₹ crore; per cent on the right, dashed. L = lakh crore, K = thousand crore. Touch the chart to read any period.
| Tap a line for its trend | Currentlast 12M | FY26Mar 2026 | FY25Mar 2025 | FY24Mar 2024 | FY23Mar 2023 | FY22 and earlierAlpha Plus |
|---|
| 37,157 | — | — | — | — | FY22 and earlierEvery year the company has filed comes with Alpha Plus. | |
| 226 | 79.0 | 71.8 | 28.5 | 76.1 | ||
| 106 | 57.8 | — | 44.3 | 36.6 | ||
| 1,713 | 1,713 | 1,341 | 977 | 748 | ||
| 38,750 | — | — | — | — | ||
| 7,492 | 4,949 | 4,065 | 4,465 | 4,743 | ||
| — | +21.8% | −9.0% | −5.9% | — | ||
| 1,587 | 762 | 449 | 582 | 619 | ||
| 21.2% | 15.4% | 11.1% | 13.0% | 13.0% | ||
| 1,392 | 604 | 343 | 500 | 536 | ||
| 927 | 329 | 173 | 338 | 318 | ||
| 12.4% | 6.7% | 4.3% | 7.6% | 6.7% | ||
| ₹5.67 | ₹2.04 | ₹1.16 | ₹2.16 | ₹1.97 | ||
| — | +75.7% | −46.2% | +9.6% | — | ||
| — | −378 | 396 | −44.9 | 236 | ||
| — | −345 | −409 | −410 | −342 | ||
| −723 | −723 | −13.2 | −455 | −105 | ||
From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.
In ₹ Crore except Per Share 12 Months Ending | FY23 31/03/2023 | FY24 31/03/2024 | FY25 31/03/2025 | FY26 31/03/2026 | Current/LTM TTM · last close | |
|---|---|---|---|---|---|---|
| Market Capitalization | — | — | — | — | 37,157.2 | |
| - Cash, Equiv & ST Investments | 76.1 | 28.5 | 71.8 | 79.0 | 226.4 | |
| + Minority Interest | 36.6 | 44.3 | — | 57.8 | 106.3 | |
| + Total Debt | 748.3 | 977.3 | 1,341.1 | 1,713.4 | 1,713.4 | |
| Enterprise Value | — | — | — | — | 38,750.5 | |
| Revenue | 4,743.3 | 4,465.1 | 4,064.5 | 4,949.3 | 7,491.7 | |
| Growth %, YoY | — | -5.9 | -9.0 | +21.8 | — | |
| EBITDA | 618.7 | 581.5 | 449.0 | 761.9 | 1,586.7 | |
| Margin % | 13.04 | 13.02 | 11.05 | 15.39 | 21.18 | |
| EBIT | 535.7 | 499.8 | 343.5 | 604.5 | 1,392.5 | |
| Net Income | 317.7 | 337.5 | 173.3 | 329.4 | 926.7 | |
| Margin % | 6.70 | 7.56 | 4.26 | 6.66 | 12.37 | |
| EPS, Adj (current shares) | 1.97 | 2.16 | 1.16 | 2.04 | 5.67 | |
| Growth %, YoY | — | +9.6 | -46.2 | +75.7 | — | |
| Cash from Operations | 236.4 | -44.9 | 396.0 | -378.1 | — | |
| Capital Expenditures | -341.6 | -410.0 | -409.2 | -345.3 | — | |
| Free Cash Flow | -105.2 | -454.9 | -13.2 | -723.4 | -723.4 | |
Prices at the 29 October 2026 close · figures from the company's filings with NSE
HFCL (NSE: HFCL) had a market capitalisation of ₹37,259 crore at the 29 October 2026 close (₹243.46 a share), a PE ratio of 42.9 on the last four quarters' profit and a price-to-book ratio of 6.60. In FY26 its consolidated net profit attributable to shareholders was ₹312 crore on revenue of ₹4,949 crore; in Q2 FY27 (July–September 2026) it was ₹363 crore, up 434.8% year on year. Its debt-to-equity ratio was 0.32 on 30 September 2026. Promoters held 28.29% of the shares on 30 September 2026.
HFCL's PE ratio is 42.9 at the 29 October 2026 close (₹243.46 a share): a market capitalisation of ₹37,259 crore divided by consolidated net profit attributable to shareholders of ₹868 crore over the last four quarters (Q3 FY26 to Q2 FY27). On FY26 net profit attributable to shareholders (₹312 crore) it is 119.5.
HFCL's price-to-book (PB) ratio is 6.60 at the 29 October 2026 close: a market capitalisation of ₹37,259 crore divided by shareholders' equity (book value) of ₹5,649 crore on 30 September 2026. That is a book value of ₹36.91 per share against a share price of ₹243.46.
HFCL's net worth — shareholders' equity in its consolidated balance sheet — was ₹5,649 crore on 30 September 2026, up 36.7% from ₹4,132 crore a year earlier. Its market value is a different figure: a market capitalisation of ₹37,259 crore at the 29 October 2026 close.
HFCL's market capitalisation was ₹37,259 crore at the 29 October 2026 close: 153.04 crore shares at ₹243.46 each.
HFCL's basic earnings per share (EPS) were ₹2.13 in FY26, against ₹1.23 in FY25. Over the last four quarters (Q3 FY26 to Q2 FY27) they add up to ₹5.74.
In 2026, HFCL has declared one dividend: ₹0.20 with record date 22 September 2026.
No. HFCL had borrowings of ₹1,840 crore on 30 September 2026 (consolidated balance sheet), a debt-to-equity ratio of 0.32. Its cash and current investments were ₹636 crore, so its net debt was ₹1,204 crore.
HFCL's debt-to-equity ratio was 0.32 on 30 September 2026: borrowings of ₹1,840 crore against total equity of ₹5,755 crore. A year earlier, on 30 September 2025, it was 0.37.
HFCL's dividend yield is 0.08% at the 29 October 2026 close: dividends of ₹0.20 a share that went ex-dividend in the 12 months before that day, divided by the share price of ₹243.46. They were ₹0.20 on 22 September 2026.
In FY26, HFCL's return on equity (ROE) was 6.9% and its return on capital employed (ROCE) was 11.9%. ROE is net profit attributable to shareholders divided by average shareholders' equity (the start and end of the year); ROCE is operating profit (EBIT) divided by average capital employed (total assets less current liabilities). In FY25, ROE was 4.4% and ROCE 7.7%.
HFCL's book value per share was ₹36.91 on 30 September 2026: shareholders' equity of ₹5,649 crore divided by the 153.04 crore shares in issue, up 28.8% from ₹28.65 a year earlier. The share price at the 29 October 2026 close was ₹243.46.
On 30 September 2026, HFCL's shares were held by promoters 28.29%, foreign portfolio investors (FII/FPI) 17.24%, domestic institutions (DII) 10.38% (including mutual funds at 8.03%) and retail and other non-institutional investors 44.07%. Over the year, FII holding was up 9.76 percentage points from 7.48% and DII holding was down 3.20 percentage points from 13.58%.
Promoters held 28.29% of HFCL on 30 September 2026, unchanged from the previous quarter and down 1.73 percentage points from 30.02% a year earlier, according to the shareholding pattern filed with NSE.
In FY26, HFCL generated ₹378 crore of cash from operations and spent ₹345 crore on capital expenditure (property, plant, equipment and intangibles), leaving free cash flow of −₹723 crore. In FY25 it was −₹13.2 crore.
HFCL has reported Q2 FY27. Its next results, for Q3 FY27 (October–December 2026), are due by 14 February 2027 under SEBI's 45-day rule; the company notifies the board-meeting date at least two working days before.
HFCL's latest results are for Q2 FY27 (July–September 2026), filed on 19 October 2026: consolidated net profit attributable to shareholders ₹363 crore, up 434.8% from ₹67.9 crore in Q2 FY26; revenue from operations ₹2,542 crore, up 143.6% year on year.
In FY26 (April 2025–March 2026), HFCL's consolidated net profit attributable to shareholders was ₹312 crore, up 75.7% from ₹177 crore in FY25, on revenue from operations of ₹4,949 crore (up 21.8%). Over three years, from FY23, net profit was up 3.6%.
In FY26, HFCL earned net profit attributable to shareholders of ₹312 crore on revenue of ₹4,949 crore, against ₹909 crore on ₹1,103 crore for Tejas Networks. HFCL's operating margin was 12.2% (Tejas Networks −98.3%) and its return on equity 6.9% (Tejas Networks −26.8%). At the 29 October 2026 close, HFCL's market capitalisation was ₹37,259 crore against ₹7,561 crore for Tejas Networks.
On FY26 consolidated figures, against Tejas Networks and ITI: HFCL's operating margin of 12.2% is the highest of the three (Tejas Networks −98.3%, ITI −0.6%; peer average −49.4%); its return on equity of 6.9% is the second highest of the three (Tejas Networks −26.8%, ITI 16.6%; peer average −5.1%); its revenue growth over three years of 1.4% a year is the lowest of the three (Tejas Networks 6.3% a year, ITI 16.1% a year; peer average 11.2% a year).
From HFCL's own consolidated results, balance sheets and shareholding patterns filed with NSE, and NSE prices (the latest used here: the 29 October 2026 close). Ratios are calculated by Alphave from those filings as each answer describes.
Consolidated figures from the company's filings with NSE; prices are NSE closing prices.