HFCL shares have surged approximately 172% in less than four months, recovering from a 52-week low of ₹59.82 hit in January 2026 to touch a fresh record high of ₹162.50 on May 25. The stock delivered a stunning performance with a 10% surge on May 25 alone, extending its winning streak to four consecutive sessions. According to latest reports, the rally remains intact with strong technical momentum, as the stock has gained 40% in May alone and 140% from the March 30 lows of ₹67. The explosive move reflects both sector strength from India's digital infrastructure push and 5G rollout, as well as company-specific operational improvements.
For the March-ended quarter (Q4FY26), HFCL reported a dramatic turnaround in earnings, posting a net profit of ₹1.84 billion compared with a net loss of ₹0.83 billion in the same period last year. Revenue from operations surged 127.8% year-over-year to ₹18.24 billion, compared to just ₹8 billion in the corresponding quarter last year. On a sequential basis, revenue also grew 51%, demonstrating consistent momentum. In terms of operating profitability, EBITDA stood at ₹315 crore against an EBITDA loss of ₹36 crore a year ago. This earnings beat exceeded market expectations and signaled that management's operational improvements are translating into real financial results.
The company has been securing new orders and expanding its order book significantly. As reported by Live Mint, HFCL ended FY26 with a total order book of ₹21,206 crore, which is 4.28 times higher than its FY26 revenue. The latest addition includes a ₹106 crore export order for optical fibre cables, while earlier in May, the company secured export orders worth ₹183.95 crore for similar supplies from international customers. The telecom gear maker exported around 70% of its optical fibre cable production during the last financial year.
The company is expanding its manufacturing capabilities significantly. As reported by Live Mint, HFCL is enhancing its OFC manufacturing capacity to 43 million fkm by June 2026, while expanding optical fibre capacity to 28 million fkm from 14 million fkm, with the next phase targeting 33.9 million fkm by December 2026. Looking ahead, the company expects EBITDA margins to expand from 16.7% in FY26 to 20-21% by FY29 and is targeting more than 70% of revenue from products and over 50% of revenue from exports by FY27. The company's ability to double revenue while swinging to profitability demonstrates improved operational efficiency and strong market demand for optical fibre and telecom equipment.
