āagman

Not investment advice. Data and computed figures, for information only.

HFCL Ltd

NSE: HFCL
₹226.27
−₹10.37 (−4.38%)
NSE · 2 Sep 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹39,857 Cr
CMP
₹226.27
52-wk High / Low
₹257 / 60
P/E
69.6
P/B
8.1
Book Value
₹32.0
Div Yield
0.08%
ROCE
11.0%
ROE
7.0%
Face Value
₹1
D/E
0.39

Price+222.2% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 13 quarters of filings. Not reported by the company.
As of 16 Oct 2026
How we compute these
Piotroski F-Score
4
/ 9
4 of 9 F-score tests passed
Graham Number
₹38
√(22.5 × EPS × book value per share)
ROIC
6.9%
vs 4.9% sector median
Cash flow to profit
−1.15
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
+1,840
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
6.6%
ROE × earnings retention ratio
ROE stability
2.6
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII +8.66DII +2.35
Latest quarter vs the previous one
Cash-accrual divergence
8.6%
of assets
Low = accruals track cash flow
Strengths
+FII holding rose by 9.0pp over the last year
Watch-outs
−Borrowings are up 248.5% since FY2016 (544 to 1896)
−Promoter holding fell by 11.0pp over the last year

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales9951,1111,0321,3261,1581,0941,0128018711,0431,2111,8241,915
Expenses8499799161,1309849358608388438539831,5101,501
Operating Profit146133117196175158152−3728190228314414
OPM %14.7%12.0%11.3%14.8%15.1%14.4%15.0%−4.6%3.2%18.2%18.8%17.2%21.6%
Other Income13184714101521141513172231
Interest36353740424547515661636362
Depreciation21211920242526303236444551
Profit before tax10394108149119102100−105−45106138228332
Net Profit7670821091117373−83−2972102184246
EPS (₹)0.490.490.580.760.770.510.51−0.56−0.220.470.641.171.49

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 12 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales2,5532,8722,1313,2274,7383,8394,4234,7274,7434,4654,0654,9495,993
Expenses2,2722,6001,9442,9444,3203,3463,8734,0774,1253,8843,6154,1864,847
Operating Profit2812731872834184935506506195824497641,146
OPM %11.0%9.5%8.8%8.8%8.8%12.8%12.4%13.8%13.1%13.0%11.0%15.4%19.1%
Other Income110−2921244022313747102586383
Interest4462626492115175166152147185242249
Depreciation34262223274269788382106157176
Profit before tax312156124220339358337442431454217428804
Net Profit324156124172232237246326318338173329604
EPS (₹)2.611.260.991.351.731.771.862.272.182.291.232.043.77

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital124124124124127128128137138144144153—
Reserves7537168401,0551,3141,5401,7882,6612,9703,8123,9354,738—
Borrowings3985445394695907349427839369911,5221,896—
Other Liabilities5727917739411,2621,4272,3581,5901,4291,5401,9452,080—
Total Liabilities1,8472,1752,2752,5883,2943,8295,2165,1715,4736,4877,5468,868—
Fixed Assets1991751881962385045085285486528521,216—
CWIP41210863436108268469602486—
Investments2725750556058415570194158135—
Other Assets1,3731,9432,0352,3272,9113,2334,6314,4804,5865,1725,9357,031—
Total Assets1,8472,1752,2752,5883,2943,8295,2165,1715,4736,4877,5468,868—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity129013620734172145205235−45396−378
Cash from Investing Activity−4537−25−30−150−167−165−458−44−449−518−324
Cash from Financing Activity−74−55−114−11667−725248−145454170669
Net Cash Flow10−18−361−49−15−546−4047−33

Ratios

As of 31 Mar 2026
12 periods
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %36.024.013.018.024.021.020.019.015.013.08.011.0
ROE %———————————7.0
EPS (₹)2.611.260.991.351.731.771.862.272.182.291.232.04
Book Value (₹)———————————32.0
Face Value (₹)———————————1
P/E———————————69.6
Div Yield %———————————0.08
NPM %12.25.55.85.34.96.15.56.86.67.44.26.6
OPM %11.010.09.09.09.013.012.014.013.013.011.015.0
D/E0.450.650.560.400.410.440.490.280.300.250.370.39
P/B———————————8.1

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+6.0%
5 years+2.0%
3 years+1.0%
TTM+59.0%
Compounded profit growth
10 years+3.0%
5 years+5.0%
3 years+1.0%
TTM+1,591.0%
Stock price CAGR
10 years+33.0%
5 years+28.0%
3 years+53.0%
Last year+242.0%
Return on equity
10 years10.0%
5 years8.0%
3 years7.0%
Last year7.0%

Shareholding pattern

As of 31 Mar 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters38.97%38.97%38.30%38.43%38.64%42.05%39.23%39.24%37.69%34.37%28.29%28.29%
FIIs3.57%3.57%6.39%4.47%5.12%2.18%6.66%6.77%7.66%6.97%7.08%15.74%
DIIs7.03%7.03%2.57%1.36%1.27%0.08%1.87%2.78%5.68%13.26%8.57%10.92%
Government————————————
Public50.43%50.43%52.74%55.74%54.96%55.69%52.11%51.12%48.91%45.36%56.02%45.02%
No. of shareholders2,37,4162,37,4162,42,0022,28,2772,17,5562,51,1326,28,7525,90,6927,29,5368,40,2198,03,6937,32,721
Change since Jun 2023 (pp)
Promoters −10.68FIIs +12.17DIIs +3.89Public −5.41

Documents

As of 11 Oct 2026
Announcements
Update On Sale Of 2,17,594 Equity Shares I.E. Entire Stake, Held In Nivetti Systems Private LimitedShareholder Meeting / Postal Ballot-Scrutinizer''s ReportClosure of Trading WindowShareholder Meeting / Postal Ballot-Outcome of AGMAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Jul 2026TranscriptJul 2026PPTMay 2026TranscriptMay 2026PPTMay 2026RecordingApr 2026PPTFeb 2026TranscriptFeb 2026PPTOct 2025TranscriptOct 2025PPT

Corporate actions

As of 22 Sep 2026
22 Sep 2026DIVIDENDDividend - Re 0.20 Per Share—
8 Sep 2025DIVIDENDDividend - Re 0.10 Per Share—
23 Sep 2024DIVIDENDAnnual General Meeting/Dividend - Rs 0.20 Per Share—
22 Sep 2023DIVIDENDAnnual General Meeting/Dividend - Re 0.20 Per Share—
22 Sep 2022DIVIDENDAnnual General Meeting/Dividend - Re 0.18 Per Share—
22 Sep 2021DIVIDEND Annual General Meeting/Dividend - Rs 0.15 Per Share—
19 Sep 2019DIVIDEND Annual General Meeting/Dividend - Rs 0.10 Per Share—
19 Sep 2018DIVIDEND Annual General Meeting/Dividend Re 0.06 Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman