HFCL announced results for third quarter and nine months ended 31st December, 2020

HFCL, India’s leading technology enterprise engaged in the manufacture of high-end telecom equipment, optical fibre and optical fibre cables and creating communication network for telecom service providers, Railways, Defence and Smart Cities & Surveillance projects, announced its unaudited financial results for the third quarter and nine months ended 31^st December, 2020.

For the nine months ended 31^st December, 2020, the Company reported Consolidated Revenue of ₹3,031.56 cr, EBIDTA of ₹ 397.94 cr, PBT of ₹ 218.62 cr and PAT of ₹ 159.77 cr

Consolidated Financial Highlights:

On standalone basis, the Company reported a quarterly Revenue of ₹1,188.89 cr, EBIDTA of ₹149.28 cr, PBT of ₹97.29 cr, Tax of ₹22.25 cr and PAT of ₹75.04  cr.

For the nine months ended  31^st December, 2020, the Company reported Revenue of ₹2,828.93 cr, EBIDTA of ₹336.68 cr, PBT of ₹186.62 cr, Tax of ₹46.26 cr and PAT of ₹140.36 cr on standalone basis.

Commenting on the performance, Mr. Mahendra Nahata, the Managing Director said, “We are pleased to share continued progress on our efforts, as reflected in the accelerating topline growth and consistently improving margins & profitability. Our team’s R&D efforts on constant innovation, fortitude to pursue growth even amid the challenges of the pandemic, and solid trust of our customers have been core drivers of our success. We have a robust order book of ₹7,313 crore with an attractive pipeline ahead, and we are seeing good opportunities for our 100% indigenously designed & developed products that has application across industries like telecom, railways and defence.

Our outlook is very optimistic given the demand we are seeing for optical fiber cables and FTTH, not just in India but also from exports. Transformational projects like PM-WANI when viewed in conjunction with BharatNet, and add to that, the upcoming 5G rollout, all this will significantly boost the Company’s prospects. With the commencement of our latest FTTH facility in Hyderabad in Q3FY21, we have become the largest FTTH Cable Manufacturer in the Country and currently, we are expanding this capacity further in next few quarters. With the focus on expanding our product portfolio and increasing exports of our “Made in India” offerings, we are excited about the growth trajectory going forward.”

The Company sees India as the next innovation and manufacturing hub for telecom products. With 5G implementation coming up on the horizon in the Country, HFCL is geared to serve the next generation communication needs of customers in India and abroad.

About HFCL:

HFCL Limited (formerly Himachal Futuristic Communications Limited) is a leading technology enterprise engaged in manufacturing of high end Transmission and Access Equipment, Optical Fiber, Optical Fiber Cables (OFC) and is specialized in setting up modern communication network for Telecom Service Providers, Railways, Defence, Smart City and Surveillance projects.

The Company’s in-house Centre for Excellence in Research located at Gurgaon & Bengaluru along with invested R&D Houses and other collaborators at different locations in India and abroad, innovate futuristic range of technology products and solutions. Some of the newly developed products through in-house R&D are Wi-Fi Systems, Unlicensed Band Radios, Cloud Management Systems and Video Management Systems. There is a suite of products under development which include Electronic Fuses, Electro Optic Devices, Software Defined Radios, Switches, Routers, Intelligent Antenna Systems and Ground Surveillance Radars among others.

The Company has state-of-the-art Optical Fiber and Optical Fiber Cable manufacturing facilities at Hyderabad, Optical Fiber Cable manufacturing plant in Goa and in its subsidiary i.e. HTL Limited at Chennai along with FRP Rod manufacturing facility in its subsidiary at Hosur. It also has a telecom equipment manufacturing facility at Solan.