Growth was driven by robust execution, with revenue rising 50.7% sequentially and 127.8% YoY. EBITDA margins improved to around 18.5%, supported by better scale and a favourable mix.
For FY26, revenue grew 21.8% to ₹4,949 crore, while EBITDA margins expanded to 16.7% from 12.5% in the previous year. Net profit rose 90% YoY to ₹329.4 crore.The company has outlined an ambitious growth roadmap, targeting revenue of over ₹10,000 crore by FY29, with EBITDA margins of 20-21%. It is also aiming to increase export contribution to over 50% from FY27 onwards, compared to 41% currently, and expects product-led revenues to account for more than 80% by FY29.
HFCL’s order book remains strong at over ₹21,200 crore, more than doubling from the previous year.The optical fibre and connectivity segment leads with a significant share, followed by EPC and defence. The company also secured a $1.1 billion global contract for optical fibre cable supply, with execution set to begin in Q1FY27.
Exports have seen a sharp jump, contributing 41% to total revenue in FY26, up from 12% in FY25 and under 5% in FY21. The company has a strong export order pipeline, supporting its global expansion plans.
HFCL continues to shift towards a higher-margin product mix, with a focus on optical fibre, telecom equipment, and defence. The share of revenue from private sector clients has also increased to around 84%.
In the defence segment, the company has an order visibility of about ₹2,230 crore, including export orders through its proposed aerospace acquisition. It has also been allotted land in Andhra Pradesh for a defence manufacturing facility, with groundwork expected to begin in May.
Separately, the board has approved the issuance of up to 7.5 crore warrants to promoter group entities at ₹74 per share, aimed at raising around ₹555 crore.
The company has also set up a strategic restructuring committee to evaluate potential business realignment, including possible demergers or divestments across its telecom, defence, and EPC verticals.
