Key Stats

Day's Price Range
52-Week Price Range
1 Month Return14.42 %
3 Month Return21.92 %
1 Year Return12.63 %

Company Financials

  • Quarterly
  • Annual
Value in ₹ crore

Peer Comparsion

Rank 6
Rank 10
Rank 13
Dividend Yield
Rank 6
Rank 4
Price To Book Ratio
Rank 8
Debt To Asset
Rank 12

Company Information

Himachal Futuristic Communications Ltd HFCL is a diverse telecom infrastructure enabler with active interest spanning telecom infrastructure development system integration and manufacture and supply of highend telecom equipment and Optic Fiber Cable OFC. Their manufacturing facilities are located at Solan in Himachal Pradesh Salcete in Goa and New Delhi. As at 31st March 2019 the Company had four subsidiaries viz. HTL Limited Polixel Security Systems Private Limited Moneta Finance Private Limited and HFCL Advance Systems Private Limited and one joint venture company viz. DragonWave HFCL India Private Limited a Joint Venture Company of the Company and DragonWave Inc. Canada now known as DragonWave X Canada Inc. a subsidiary of Transform X Inc.Himachal Futuristic Communications Ltd was incorporated on May 11 1987. The company started with manufacturing transmission Equipment and soon they expanded their product portfolio to manufacture Access Equipment Optical Fibre Cable Accessories and Terminal Equipment. The company is geared up for meeting the new generation access network demand in future.The company was incorporated in the State of Himachal Pradesh and was promoted by Deepak Malhotra Mahendra Nahata and Vinay Maloo. The company entered into a technical collaboration agreement with Seiscor Technologies Inc USA for the manufacture of 11 and 17 Analog Subscriber Carrier Systems and also signed a Memorandum of Undertaking with Philips Kommunikation Industries AG of Germany for the manufacture of the Digital Subscriber Carrier System.In the year 1991 the company promoted two new companies namely Himachal Telematics Ltd at Solan for the manufacture of digital microwave radio transmission equipments and fax machines and Microwave Communication Ltd for establishing radio paging network in certain important cities of the country. During the year 199394 the company acquired existing investment companies know as Kaldev Trader Investment Ltd which was changed to HFCLTradeInvest Ltd and Coubndge Construction Delhi Ltd. Also they entered into agreements with telecom giants namely Kong Song Communication Electronics Co Ltd Korea to manufacture radio pagers and satellite video receivers Dalcons Corporation of Korea for managing credit card information services and Wireless Telecom Ltd of USA to implement Vsat services.During the year 199596 Himachal Telematics Ltd was merged with the company. In the year 1997 the company bagged a contract to set up an information super highway for the basic telephone project of Essar Commvision Ltd in Punjab circle. During the year 199697 the companys Optical Fibre Cable Plant in Goa commenced their commercial production. In the year 1998 the company entered the information technology business by offering software solutions to the telecom industry.During the year 199899 the company has received Purchase Orders worth Rs 22 crore for the supply of STM1 Optical Line Terminal Equipment and advance Purchase Order of another Rs 100 crore for STM16 Systems. In the year 1999 the company forayed into software exports and developed a stateoftheart facility at Delhi for that purpose. They bagged a contract from Reliance WorldTel for setting up Internet backbone in Tamil Nadu. During the year 19992000 the company entered a strategic tieup with the Kerry Packer Group of Australia and formed two joint ventures namely Consolidated Futuristic Solutions Ltd and Excel Netcommerce Ltd in the field of Software and B2B Ecommerce respectively. HFCL Infotel Ltd and Consolidated Futuristic Solutions Ltd became the subsidiaries of the company during the year 200001.During the year 200102 the company acquired 74 of equity of HTL Ltd a public sector undertaking which is the largest switching equipment maker in the country for Rs 55 crore. HTL Ltd became the subsidiary of the company with effect from October 16 2001. Also the company divested part of their shareholdings in Consolidated Futuristic Solutions Ltd consequently Consolidated Futuristic Solutions Ltd ceased to be subsidiary of the company with effect from December 6 2001.During the year 200203 the wholly owned subsidiary company namely HFCL TradeInvest Ltd merged with the company with effect from March 31 2003. HFCL Infotel Ltd merged with the Investment Trust of India Ltd a Chennai based company and was renamed as HFCL Infotel Ltd with effect from September 1 2002. Also Rajam Finance and Investments India Ltd which was renamed as The Investment Trust of India Ltd became the subsidiary of the company by virtue of their subsidiary relationship with HFCL Infotel Ltd. The Investment Trust of India Ltd ceased to be the subsidiary of the Company with effect from September 30 2003.During the year 200304 the cable division of the company entered into Cable TV market and they emerged as a dominant player in that segment. Also they received the order valuing of about Rs 220 from MTNL. During the year 200405 the company completed the biggest ever order of 200 K Lines of WLL CorDect and 60 of CDMA Infrastructure order of MTNL.Moneta Finance P Ltd has become the wholly owned subsidiary of the company with effect from July 11 2006. During the year ended 31 March 2014 HFCL successfully bid and won certain contracts to supply its products as well as services. HFCL voluntarily sought the delisting of its GDRs from London Stock Exchange and Luxembourg Stock Exchange. The GDRs listing have been cancelled from London Stock Exchange and Luxembourg Stock Exchange w.e.f. 21 March 2014 and 23 December 2013 respectively consequent upon resignation by the Depository i.e. Bank of New York BNY Mellon. HFCL has not appointed any Successor Depository and has terminated the Deposit Agreement due to lack of liquidity with virtually no trading taking place and investors decreasing interest in depositary receipts.During the year ended 31 March 2015 HFCL accelerated its performance in both of its manufacturing and turnkey business segments. In manufacturing of OFC the company achieved record revenue and profits coupled with full capacity utilisation of the facility in Goa. Exports of OFC was another breakthrough during FY 2015. Equipment manufacturing saw production of GSM products.In turnkey projects execution HFCL has successfully completed high capacity optical transport network for Railtel by deploying 80 channel DWDM system at over 60 sites along two connecting routes between Delhi Mumbai. The project is under annual maintenance contract and based on excellent execution the customer has gone ahead with 75 expansion order on the company. Another success was the winning of a turnkey contract for laying OFC network in one of the largest states of the country from BSNL. Further the company was awarded large project for setting up of GSM network at extremely remote standalone sites and connecting each site to the national network.M/s HFCL Advance Systems Private Limited became the wholly owned subsidiary of the company w.e.f. 23rd February 2015.HFCL achieved its highest ever revenue of Rs 2570 crore in financial year ended 31 March 2016. It performed well on all the business verticals. The company has also established itself as a global supplier of OFC products with exports to over 25 countries in FY 2016 16 countries in FY 2015. HFCL achieved highest ever export revenue of Rs 75.27 Crore in FY 2016 Rs 34.88 Crore in FY 2015 despite tough market competition from local as well as foreign competitors.In telecom equipment manufacturing HFCL in FY 2016 started manufacturing low capacity GSM system for rural deployment which has large business potential in India for next 23 years. The company during FY 2015 and FY 2016 participated in four large tenders aggregating to approx. Rs 5000 Crore floated by BSNL for setting up of countrywide Defence Telecom network. The company has already received an advance order of Rs 1245 Crore in one tender and the technocommercial evaluation of one more tender valued at approx. Rs 2500 Crore has been completed. The company has stood as lowest bidder in that tender also. HFCLs debts were earlier restructured under Corporate Debt Restructuring CDR mechanism and as stipulated therein the lenders had the right to claim recompense from the company at the time of its exit from CDR on account of various sacrifices waivers made by them in the CDR Package. With the improved financial performance the company submitted its proposal for exit from CDR mechanism to Monitoring Institution MI i.e. IDBI Bank Limited. The MI has recommended recompense amount of Rs 148.47 Crore on term and working capital loans. The same has been approved by CDR Empowered Group vide their order dated 22 March 2016 subject to the approval from companys lenders. Subsequent to CDREGs approval the recompense amount has been approved by some of the lenders and approval from remaining lenders is expected soon. Accordingly the Board of Directors of HFCL at their meeting held on 10 May 2016 approved the recompense amount of Rs 148.47 Crore to exit from CDR mechanism.HFCL acquired 160000 equity shares of Polixel Security Systems Private Limited Polixel thereby the total equity holding of the company reached upto 94 and Polixel became the subsidiary of the company w.e.f 9 August 2016. The company further acquired additional 10856 equity shares of the Polixel thereby the total equity holding of the company in Polixel has reached to 100 and accordingly Polixel has become the wholly owned subsidiary of the company w.e.f. 31 March 2017.During the year ended 31 March 2017 HFCLs Goa plant underwent a wholesome modernisation. The annual capacity also was raised from 5 MFkm to 7.2 MFkm adding some new cable variants in the process. The year also marked the first full year of operations for the recently commissioned Chennai facility of HTL a subsidiary company. Consequently the capacity of Spiral Wire Armoured cable was doubled and the annual capacity for traditional Armoured Cables was raised from 3 MFkm to 4.5 MFkm. Moving up the value chain the company also added FTTH cable in its Chennai facility during the year.In Turnkey business HFCL accomplished a challenging feat of developing and commissioning a GSM network in Left Wing Extremist LWE region. The mammoth exercise involved the deployment of more than 500 sites across 6 states. The company also won a Wifi network turnkey project worth Rs.200 crore from BSNL for roll out of Wifi services across 16 states in the Northern and Eastern India. In order to increase its networks backhaul capacity BSNL Mobile Network floated two separate tenders for microwave backhaul radios. HFCL bagged both these tenders involving supply commissioning and maintenance of about 10000 radios to be deployed across India. The order value is Rs.180 crore.The company made significant progress in new business verticals of Railways Smart Cities and Defence during the year. In Railways business vertical the company bagged certain orders for a variety of railway signalling linked applications during the year. The company signed two contracts totalling Rs.113 crore to execute Trenching Laying of Signalling Cables and also for Design Manufacture Supply Installation Testing Commissioning and incidental services of telecommunication System for the BhaupurKhurja section of the Eastern Dedicated Freight Corridor covering route length of 343 km as a subcontractor to Alstom Systems India Pvt. Ltd.In another success the company signed a contract worth Rs.95 crore with Larsen Toubro Limited for Design Manufacture Supply FAT Installation Testing Commissioning Training and DLP at site of the Telecommunication System comprising of various subsystems viz. OFC SDH Data Networking Dispatch Telephone EPABX Master Clock System and Power Supply for STP17 of the Western Dedicated Freight Corridor Phase 2.In Smart Cities business vertical HFCL bagged two projects in FY 2017 one for Ludhiana Smart Surveillance Intelligent Traffic Management Systems and the other for Jaipur regarding Provisioning Integration of Wi Fi Hotspots Interactive Information Kiosks Surveillance Cameras Environmental Sensors Structural Sensors Smart Lighting Solutions and Remote Kiosks along with the Facility Management Services.In Defence Business vertical HFCL signed an MOU with a French MNC as its Technology Partner for Portable Opto Electronics during the year for manufacturing wide range of Portable Night Vision Devices. During the year the company submitted RFIs for Weapon Night Sights for various weapons Electronic Fuses for Artillery Ammunition Manufacture of Mini UAVs. During the year ended 31 March 2018 HFCL issued and allotted 45000000 Warrants convertible into equity shares on preferential basis at a price of Rs16/ per warrant to Promoters/Promoter Group of the companies and Non Promoter persons/entity. The Warrant holders have already paid 25 of the issue price and balance 75 of the issue price shall be paid at the time of exercising of Warrants. The Warrants shall be exercised within a period of 18 months from the date of their allotment i.e. 30th October 2017 in one or more tranches.During FY 2018 HFCLs Goa plant developed new compact designs for micro optical fibre cables with lesser diameters and new drydry optical fibre cables. These new variants are extremely popular in FTTx networks. Many product certifications were received including CPR Construction Products Regulations for different product variants. The CPR Certification demands stringent product performance in the event of fire and is mandatory now for supplies to European countries. The Chennai plant of HFCLs subsidiary HTL Limited got several product process approvals including TL9000 certification. HTL Limited also implemented SAP ERP system in order to have better monitoring control on manufacturing activities. New machines were added for manufacturing of Steel Wire Armored Cables which is popular in many European countries. Also various alterations and renovations were carried out in the overall infrastructure to enhance efficiency and productivity of HTL Limiteds manufacturing plant at Chennai. Consistent efforts to have better control on value chain culminated in addition of FRP and GFR manufacturing facilities at the Chennai premises of HTL Limited.In FY2018 HFCL secured a 3year contract from Nokia for supply of optical fibre cables for Digital Poland Project funded by EU. During the year under review against the Advance Purchase Order worth Rs1245 crore approx including AMC of Rs298 crore the company has received a Purchase Order worth Rs 935 crore approx from BSNL for DWDM equipment to be installed on pan India basis for the Defence Forces under Network for Spectrum Program NFS. In Smart Cities business vertical HFCL has received Letter of Intent from RajComp Info Services Ltd RISL for supply Installation and Commissioning of edge networking equipment under surveillance and Incident response project in the state of Rajasthan.During the year 2019 the Company redeemed entire 6037500 CRPS of Rs 100/ each amounting to Rs 60.38 crores.The Company had 10000000 Warrants outstanding as on 31st March 2019 which have also been converted into equal nos. of 10000000 equity shares and the Paidup Equity Share Capital of the Company stands at Rs 128.44 Crores comprising of 1284377194 equity shares of face value of Rs 1/ each.The Company acquired controlling stake of 90 in Raddef Private Limited thereby making it a subsidiary of the Company w.e.f. 15th May 2019.In FY 2019 the Company has given Corporate Guarantees to Corning Finolex Optical Private Ltd. on behalf of HTL Ltd. a Subsidiary of the Company for the supply of material Punjab National Bank on behalf of Exicom Tele System Ltd. for Working Capital. Further Owens Corning India Private Ltd. on behalf of HTL Ltd. a Subsidiary of the Company for the supply of material and Yes Bank Ltd on behalf of HTL Ltd. a Subsidiary of the Company for various credit facilities sanctioned to HTL Ltd.The Board of Directors at its meeting held on 15th May 2019 had approved the change in name of the Company from Himachal Futuristic Communications Limited to HFCL Limited.The Company during the year 2019 received orders worth Rs 620 crore for supply of OFC from its customers namely Larsen Toubro Limited Rs 148 crore ITI led consortium Rs 355 crore and Tata Project Ltd. Rs 117 crore.During the year 2019 production capacity in Chennai Plant in subsidiary was increased from 3.5m fkm to 7m fkm thus making overall capacity of 15m fkm. During the current fiscal year the Chennai Plants capacity has reached to 10.5m fkm which has taken its consolidated OFC capacity to 18.5m fkm. With an intension to offer more value to own telecom turnkey vertical and other customers by offering all passive products Chennai Plant started its OFC Accessories Division and received various product approvals from Government and non Government Customers. The subsidiary company has received orders to the tune of Rs 90.82 crore for such new products.In FY 201819 the Company started a Greenfield project for manufacturing of Optical Fiber with 6.4m fkm capacity in Hyderabad. Besides it developed marketed and sold its products to more than 50 countries worldwide.During the year 2019 against the Advance Purchase Order worth Rs1245 crore approx including AMC of Rs298 crore the Company has received a Purchase Order worth Rs935 crore approx from BSNL for DWDM equipment to be installed on pan India basis for the Defence Forces under Network for Spectrum Program NFS. During the current financial year 201819 the Company received Purchase Orders worth Rs305 crore and Rs278 crore aggregating to Rs583 crore from Bharat Broadband Network Limited for creating Optical Fibre Cable GPON Network and Radio Network in the State of Punjab under Bharat Net PhaseII project of the Government of India.
OrganisationHFCL Ltd
IndustryInfrastructure Developers & Operators