HFCL Limited touched a fresh 52-week high of Rs 111 on Wednesday, gaining 3.5% from its previous close of Rs 107.10, as the market responded to a set of fourth-quarter results that confirmed one of the cleanest operational turnarounds in the telecom infrastructure space this earnings season.
The stock opened strong and surged to its 52-week high of Rs 111 in early trade — a level that now stands 85.6% above its 52-week low of Rs 59.82. The intraday chart shows a sharp spike on results, a brief consolidation, and a second leg higher in afternoon trade as buy orders continued to flow in. Average trading volume of 29.11 million shares underscores the breadth of participation — this is not a thin-volume move.
At Rs 110.85 with a market cap of approximately Rs 16,646 crore, the stock trades at a PE of 313.64 — a number that, taken in isolation, looks alarming, but is almost entirely a function of the earnings base catching up with a re-rating that the market had partially anticipated. With a full year of profitable quarterly runs now establishing a new baseline, the forward PE will compress materially if the momentum in order execution continues through FY27.
The 52-week high is also the all-time high for the current trading range — meaning there is no historical resistance overhead, and the stock is trading in price discovery territory for the first time in over a year.
HFCL Limited delivered one of the most striking turnarounds in its recent history in Q4 FY26, swinging from a consolidated net loss of Rs 81.4 crore in the same quarter last year to a profit of Rs 178.5 crore — a complete reversal driven by a revenue surge of over 128% and an EBITDA that flipped from a loss of Rs 36 crore to a positive Rs 315 crore.
Consolidated Q4 FY26 snapshot
| Metric | Q4 FY26 | Q4 FY25 | Change |
|---|---|---|---|
| Revenue from Operations | Rs 1,824 Cr | Rs 800.7 Cr | +128% YoY |
| EBITDA | Rs 315 Cr | Loss of Rs 36 Cr | Full turnaround |
| EBITDA Margin | 17.3% | Negative | — |
| Net Profit (PAT) | Rs 178.5 Cr | Loss of Rs 81.4 Cr | Full turnaround |
The revenue more than doubling year-on-year — from Rs 800.7 crore to Rs 1,824 crore — is the foundational driver of everything in these results. At this revenue scale, HFCL’s operating cost base, which was insufficient to generate profit a year ago, has been comfortably absorbed, resulting in an EBITDA margin of 17.3% that reflects strong operating leverage in the telecom infrastructure and optical fibre cable business.