Shares of this small-cap telecom company moved 2 percent upside after the company launched 1728 intermittently bonded cables at Indian Congress 2023 in Delhi.
With a market capitalization of Rs. 9,056 cr, the Shares of HFCL Ltd started its Monday trading session on a positive note. The share opened at the Rs 64 level and currently trading at Rs. 65.5 apiece making a gain of around 2 percent.
In an exchange filing the company mentioned that it has launched 1728 intermittently roped cables at Indian Congress 2023 in Delhi. This will help meet the growing demand for high fiber count cables from data centers and also boost 5G network infrastructure.
According to the reports, HFCL will invest Rs. 200 cr for manufacturing 5G fixed wireless access (FWA) consumer premise devices and R&D related to the technology.
Lately, Jio and Airtel launched 5G Airfiber services, and now with the launch of these new products HFCL to cater to the 9 billion-a-year markets.
Digging into the financials of the company, the revenue increased by 12 percent from Rs. 995.19 cr during Q1 FY24 to Rs. 1,111.49 cr in Q2 FY24.On a contrasting note, the Profit After Tax (PAT) fell 7 percent from Rs. 75 cr to Rs. 69 cr during the same period.
Looking at the important financial ratios of the company, the return on equity was 10.82 percent during FY22-23, and the return on capital employed was 15.38 percent during the same timeframe.
According to the latest shareholding pattern, Promoters have 37.84 percent of the company’s stake, the Public have 49.17 percent holdings, FIIs have 8.35 percent shares in the company, and the remaining 4.64 percent is with DIIs.
Headquartered in Gurugram, HFCL Limited is an Indian technology company. It designs, develops, and manufactures telecommunications equipment, fiber-optic cables, and other related electronics.
Written By Vaibhav Patil
