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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
HFCL
HFCL (HFCL) investor relations material
HFCL Q2 26/27 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 26/27 earnings summary19 Oct, 2026
Executive summary
Best-ever Q2 FY27 performance, with consolidated revenue of ₹2,541.79 crore and PAT of ₹394.22 crore; margins strengthened and multi-year demand visibility expanded.
Order book reached ₹28,911 crore; new orders exceeded quarterly deliveries, while advanced opportunities and international contracts support long-term visibility.
Financial highlights
Q2 revenue from operations was ₹2,541.79 crore, up 143.62% YoY and 32.73% QoQ; total income was ₹2,569.25 crore.
Q2 EBITDA was ₹658 crore, up 223.55% YoY; PBT was ₹538.60 crore, up 406.49% YoY, and PAT was ₹394.22 crore, up 448.14% YoY.
H1 revenue was ₹4,456.77 crore, up 132.81% YoY; PBT was ₹870.12 crore and PAT ₹639.86 crore, versus ₹61.64 crore and ₹42.62 crore in H1 FY26.
H1 EBITDA was ₹1,103.27 crore; consolidated operating cash flow was ₹455.27 crore versus an outflow of ₹43.60 crore in H1 FY26.
Export performance grew ~493% YoY; Q2 results were not driven by an exceptional one-off or unusually high-margin event.
Outlook and guidance
FY27 revenue growth guidance rose to at least 80% over FY26, from an initial ~20% aspiration and a subsequent 40% outlook; ₹10,000 crore revenue is expected before FY29.
Q3 revenue is expected to grow QoQ, with revenue and profitability improving further, subject to major geopolitical disruptions.
Connectivity solutions revenue is projected at ₹800 crore in FY27 and ₹2,000 crore in FY28, with growth expected in revenue and margins.
Defence revenue target is ₹500–600 crore in FY27, at least ₹2,000 crore the following year, with an aspiration of ~₹5,000 crore within three years.
Strategic priorities include >27% EBITDA margin by FY29, ~90% revenue from products and >70% from exports by FY27; growth outlook extends six to seven years and beyond.
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Latest events from HFCL
- Weaker telecom demand cut FY97 profit, while tenders and new products set up a recovery case.HFCL
Q4 96/97 - Revenue fell 25% as recession and competition cut profit; fundraising and debt reduction planned.HFCLQ4 01/02
- New telecom products and turnkey orders offered growth amid price pressure and receivable risk.HFCLQ4 97/98
- Profit surged 139% as debt plunged and telecom expansion accelerated.HFCLQ4 99/00
- Record profit and SDH orders buoyed growth, but cash outflow and receivable risks persisted.HFCLQ4 98/99
- Turnkey growth lifted FY01 results, but strategic-investment recovery remained uncertain.HFCLQ4 00/01
- Standalone profit declined; subsidiary losses drove a Rs 145.4 crore consolidated loss.HFCLQ4 02/03
- Heavy provisions drove a ₹268.43 crore loss as debt restructuring became critical.HFCLQ4 03/04
- CDR relief eased financing pressure, but falling sales, losses and subsidiary distress persisted.HFCLQ4 04/05
Next HFCL earnings date
Q3 26/272 Feb, 2027
HFCL
Next HFCL earnings date
Q3 26/272 Feb, 2027
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Frequently asked questions
HFCL Limited is an Indian telecommunications equipment and infrastructure company. It designs, manufactures, and deploys fiber optic cables, telecom electronics, and turnkey network solutions. The company serves telecom operators, government projects, and enterprise clients across India and exports to international markets. The company is headquartered in New Delhi, India, and its shares are listed on the NSE.