HFCL cash flow

Latest FY26

Cash from operations: −₹378cr₹396 cr in FY25
Capital spending: ₹345cr−15.6% on FY25
Free cash flow: −₹723cr−₹13.2 cr in FY25
Cash from financing: ₹669cr+294.7% on FY25

₹ crore except per share

Tap a line for its trend	Last 12Mto Sep 2026	FY26Mar 2026	FY25Mar 2025	FY24Mar 2024	FY23Mar 2023	FY22 and earlierAlpha Plus

Changes in working capital
Adjustments to reconcile profit — non-cash items						FY22 and earlierEvery year the company has filed comes with Alpha Plus.
	—	157	106	81.8	83.0
	—	2.1	0.9	−11.0	4.7
	—	242	185	147	152
	—	0.0	−25.0	0.0	0.0
	—	−24.8	0.0	−21.1	−14.7
	—	−4.5	−4.1	3.5	−10.1
	—	0.0	0.0	−0.9	0.0
	—	49.3	4.8	−0.1	−0.3
	—	−0.7	0.0	−0.2	−0.0
	—	−517	−124	−16.6	−184
	—	−225	431	−419	191
	—	−120	−438	−1.8	−147
	—	0.0	0.0	−1.3	0.0
	—	−358	−508	−58.1	−139
	—	9.7	−8.7	−7.5	−3.4
	—	−71.2	271	−70.4	−132
	—	0.0	0.0	0.0	−2.7
	—	−10.3	162	−168	154
	—	100	118	159	−53.5
	—	11.7	6.8	5.4	3.6
	—	−2.7	3.6	−0.0	2.2
Cash from operating activities
	1,235	428	216	453	431
	—	−762	182	−377	−95.7
	—	−335	398	75.6	335
	—	43.6	1.8	121	98.6
	—	−378	396	−44.9	236
Cash from investing activities
	—	230	230	184	194
	—	115	179	227	148
	—	0.5	1.7	0.5	0.6
	—	0.0	0.0	9.0	0.0
	—	12.1	4.2	0.0	0.0
	—	0.0	4.5	0.0	10.3
	—	−3.0	0.0	0.0	0.0
	—	13.4	−6.3	−2.0	−5.6
	—	0.0	0.0	0.0	42.6
	—	0.0	0.0	0.0	5.9
	—	4.4	4.9	3.8	0.0
	—	20.5	−122	−53.9	253
	—	−324	−518	−449	−44.6
Cash from financing activities
	—	544	0.7	353	3.1
	—	0.0	10.2	73.2	28.2
	—	571	590	320	133
	—	198	226	91.2	128
	—	14.9	10.1	6.9	9.8
	—	217	166	157	147
	—	14.4	28.8	28.6	24.5
	—	0.0	0.0	−9.1	0.0
	—	669	170	454	−145
	—	−32.9	47.2	−39.6	47.0
	—	−32.9	47.2	−39.6	47.0
	—	—	—	23.3	63.7
Reference items
	1,587	762	449	582	619
	21.2%	15.4%	11.1%	13.0%	13.0%
	−723	−723	−13.2	−455	−105
	—	−568	184	−383	—
	−₹4.73	−₹4.73	−₹0.09	−₹2.97	−₹0.69
	—	−1.15×	2.29×	−0.13×	0.74×
	—	43.6	1.8	121	98.6
	—	217	166	157	147

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From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.

alphave

HFCL₹243.46

HFCL Ltd.

· Telecom & Media

₹ CrorePeersTEJASNET ITI RAILTEL TTML BHARTIHEXA TATACOMM IDEA OPTIEMUSMcap ₹37,257 Cr

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In ₹ Crore except Per Share 12 Months Ending	FY23 31/03/2023	FY24 31/03/2024	FY25 31/03/2025	FY26 31/03/2026	Last 12M 30/09/2026
Adjustments to Reconcile Profit — Non-cash Items
+ Depreciation & Amortisation	83.0	81.8	105.5	157.3	—
+ Impairment Loss / (Reversal)	4.7	-11.0	0.9	2.1	—
+ Finance Costs	152.2	147.3	185.0	242.1	—
+ Interest Income	0.0	0.0	-25.0	0.0	—
+ Dividend Income	-14.7	-21.1	0.0	-24.8	—
+ Unrealised FX (Gain) / Loss	-10.1	3.5	-4.1	-4.5	—
+ Undistributed Profits of Associates	0.0	-0.9	0.0	0.0	—
+ Other Non-cash Items	-0.3	-0.1	4.8	49.3	—
+ Other Reconciling Items	-0.0	-0.2	0.0	-0.7	—
Changes in Working Capital
+ Inventories	-184.5	-16.6	-124.4	-517.2	—
+ Trade Receivables — Current	191.2	-419.1	431.4	-225.2	—
+ Other Financial Assets — Current	-146.9	-1.8	-438.0	-120.4	—
+ Other Financial Assets — Non-current	0.0	-1.3	0.0	0.0	—
+ Other Current Assets	-138.8	-58.1	-507.6	-358.0	—
+ Other Non-current Assets	-3.4	-7.5	-8.7	9.7	—
+ Trade Payables — Current	-132.1	-70.4	271.0	-71.2	—
+ Trade Payables — Non-current	-2.7	0.0	0.0	0.0	—
+ Other Financial Liabilities — Current	154.3	-168.1	162.2	-10.3	—
+ Other Current Liabilities	-53.5	158.9	118.1	100.4	—
+ Other Non-current Liabilities	3.6	5.4	6.8	11.7	—
+ Provisions — Current	2.2	-0.0	3.6	-2.7	—
Cash from Operating Activities
Profit Before Tax (per I/S)	430.7	453.1	216.2	427.7	1,235.4
+ Total Adjustments (incl. Working Capital)	-95.7	-377.5	181.5	-762.2	—
Cash from Operations (pre-tax)	335.0	75.6	397.8	-334.6	—
+ Income Taxes Paid	98.6	120.5	1.8	43.6	—
Cash from Operating Activities	236.4	-44.9	396.0	-378.1	—
Cash from Investing Activities
+ Acq of Fixed Assets (Capex)	193.6	183.5	230.2	230.2	—
+ Acq of Intangible Assets	148.0	226.5	179.0	115.1	—
+ Disp of Fixed Assets	0.6	0.5	1.7	0.5	—
+ Disp of Intangible Assets	0.0	9.0	0.0	0.0	—
+ Disp of Investment Property	0.0	0.0	4.2	12.1	—
+ Acq of Subsidiaries / Businesses (net)	10.3	0.0	4.5	0.0	—
+ Disp of Subsidiaries / Businesses (net)	0.0	0.0	0.0	-3.0	—
+ Loans & Advances Made	-5.6	-2.0	-6.3	13.4	—
+ Government Grants Received	42.6	0.0	0.0	0.0	—
+ Dividends Received — Investing	5.9	0.0	0.0	0.0	—
+ Interest Received — Investing	0.0	3.8	4.9	4.4	—
+ Other Inflows / (Outflows) — Investing	252.6	-53.9	-121.8	20.5	—
Cash from Investing Activities	-44.6	-448.7	-518.4	-324.1	—
Cash from Financing Activities
+ Proceeds from Issue of Shares	3.1	353.0	0.7	543.6	—
+ Proceeds from Other Equity Instruments	28.2	73.2	10.2	0.0	—
+ Proceeds from Borrowings	133.3	320.2	590.2	570.7	—
+ Repayment of Borrowings	127.8	91.2	226.4	198.4	—
+ Payment of Lease Liabilities	9.8	6.9	10.1	14.9	—
+ Interest Paid	147.3	156.6	166.1	217.2	—
+ Dividends Paid	24.5	28.6	28.8	14.4	—
+ Other Inflows / (Outflows) — Financing	0.0	-9.1	0.0	0.0	—
Cash from Financing Activities	-144.8	454.0	169.6	669.4	—
Net Changes in Cash (pre-FX)	47.0	-39.6	47.2	-32.9	—
Net Changes in Cash	47.0	-39.6	47.2	-32.9	—
Closing Cash	63.7	23.3	—	—	—
Reference Items
EBITDA	618.7	581.5	449.0	761.9	1,586.7
EBITDA Margin %	13.04	13.02	11.05	15.39	21.18
Free Cash Flow (CFO − Capex)	-105.2	-454.9	-13.2	-723.4	-723.4
Free Cash Flow to Equity	—	-382.6	184.5	-568.3	—
Free Cash Flow per Basic Share	-0.69	-2.97	-0.09	-4.73	-4.73
Cash Flow to Net Income	0.74	-0.13	2.29	-1.15	—
Cash Paid for Taxes	98.6	120.5	1.8	43.6	—
Cash Paid for Interest	147.3	156.6	166.1	217.2	—

As filed, sign as filed: a payment tagged as a positive magnitude in the filing stays positive here, so read the label, not the sign. A line appears only when the company tagged that concept in at least one period shown — depth follows the filer, so a thin statement means a thin filing. Total Adjustments is the filer's own grand total of the reconciliation and spans BOTH the non-cash items and the working-capital block; Profit Before Tax plus it equals Cash from Operations (pre-tax). It can be reported when its components are not, so it is never a sum of the rows above it. No consensus estimates → no Est columns. Click any row to chart it.

« ‹ › »Latest: FY26 · ConsolidatedFA Financial Analysis · alphave

Data & compliance. Descriptive financial information from official NSE/BSE filings — for information and education only, not investment advice, a recommendation, or a valuation. Standalone = parent entity; consolidated includes subsidiaries. Historical multiples pair each fiscal year's filed figures with that FY-end market close; the Current column uses the last close with the latest filed annuals. Figures are cross-verified via accounting identities and NSE×BSE agreement — XBRL cross-verified ✓ 95%.