HFCL Ltd share Price

Q4FY23 Quarterly & FY23 Annual Result Announced for HFCL Ltd.

Telecom cables company HFCL announced Q4FY23 & FY23 results:

• Consolidated Q4FY23 vs Q3FY23/Q4FY22:
  • Revenue: Rs 1,433 crore vs Rs 1,086 crore (31.97% QoQ change); Rs 1,183 crore (21.13% YoY change)
  • EBIDTA: Rs 168 crore vs Rs 194 crore (13.01% QoQ); Rs 154 crore (9.43% YoY)
  • EBIDTA Margin: 11.74% vs 17.80% (-606 bps QoQ); 12.99% (-125 bps YoY)
  • PAT: Rs 79 crore vs Rs 102 crore (-22.57% QoQ); Rs 68 crore (15.49% YoY)
  • PAT margin (%): 5.49% vs 9.36% (-387 bps QoQ); 5.76% (-27 bps YoY)
• Consolidated FY23 vs FY22:
  • Revenue: Rs 4,743 crore vs Rs 4,727 crore (0.34% YoY)
  • EBIDTA: Rs 665 crore vs Rs 692 crore (-3.91% YoY)
  • EBIDTA margin (%): 14.04% vs 14.66% (-62 bps YoY)
  • PAT: Rs 317 crore vs Rs 326 crore (-2.50% YoY)
  • PAT Margin (%): 6.70% vs 6.89% (-19 bps YoY)
  • Revenue in FY23 from international business grew by 125% YoY
  • Revenue from private customers increased to 83% in FY23 from 68% in FY22
• For FY23, the company reported on a standalone basis, revenue of Rs 4,396 crore, EBIDTA of Rs 516 crore, PBT of Rs 342 crore, and PAT of Rs 255 crore
• On a standalone basis, the company reported Q4FY23 revenue of Rs 1,323 crore, EBIDTA of Rs 114 crore, PBT of Rs 69 crore, and PAT of Rs 51 crore

Commenting on the company’s performance, Mahendra Nahata, Managing Director, HFCL, said, “Amidst the global economic challenges India remains a promising economy and is expected to emerge the fastest-growing in the world. Our company has also been able to withstand the economic challenges and has shown sturdy performance in FY 22-23. The company remains focused on its strategy of increasing revenue from margin-accretive products, expansion of capacities coupled with high-level backward integration, huge impetus on R&D, increased customer base, and geographical expansion. During FY23 we have significantly increased revenues from international business to Rs.817 crores from Rs 363 crores in FY22 witnessing a growth of 125% on a YoY basis. Our continued focus on creating and expanding capacities and tapping new geographies has not only led to an increase in the share of product revenue to 56% in FY23 as compared to 43% in FY22 but also resulted in an increased share of revenue from private customers to 83% in FY23 from 68% in FY22. We believe that our strategic initiatives will position us well for long-term success.

He further added that “the company is expanding its optic fibre capacity from existing 10mn fkm to 25mn fkm and optic fibre cable capacity from 25mn fkm to 35mn fkm by FY25. The company is simultaneously developing various 5G Radio Access Network Products, Transport products, and broadband wireless products which are expected to be launched during the current financial year. These initiatives will not only add to the revenue but will also increase the profitability of the company significantly. We are excited about the future of HFCL and look forward to continuing our commitment to delivering innovative communication solutions that connect people and business Worldwide.”

Result PDF