HFCL Limited (NSE: HFCL) reported steady Q3 FY26 performance. The telecom and defence technology firm saw strong export momentum. Its order book hit ₹11,125 crore. Revenue mix improved with higher product sales.
Standalone Financial Performance
Standalone revenue reached ₹1223.89 crore. EBITDA was ₹170.61 crore. PBT stood at ₹78.94 crore. PAT totaled ₹56.19 crore.
Robust Order Book Expansion
Order book grew to ₹11,125 crore as of December 31, 2025. This marked an increase from ₹9,981 crore in Q2 FY26. It also topped ₹10,410 crore from Q3 FY25. Visibility strengthened across products, exports, EPC, and defense.
Improving Revenue Composition
Product revenues rose to 60% of total revenues. This compared to 51% in Q2 FY26. Project revenues held at 40%. Exports jumped to 27% of revenues. This was up sharply from 14% in Q3 FY25.
Export Order Momentum
HFCL secured export orders worth ~USD 192 million. These covered Optical Fiber Cables. Demand revived globally due to hyperscaler investments. Data centers, cloud, and AI workloads drove this trend.
Capacity and Technology Advances
Optical fiber capacity doubled to ~28 million fiber-kilometers. Target is 33.9 million by December 2026. Optical fiber cable capacity hit 30.5 million fiber-kilometers. Planned peak is 42.3 million by June 2026. HFCL developed a 3456-fibre Micro Duct IBR cable. It leads in high-count cables. A 6912-fiber version is underway.
Defense Segment Progress
HFCL won contracts for radars, electronic fuses, and electro-optic systems. These included thermal weapon sights. The firm entered UAV night-vision with an indigenized thermal camera. It secured an order from a top Indian UAV maker. Drone detection radars passed static validation trials. Electronic fuses underwent firing trials in January 2026. Serial production will boost profitability.
Management Outlook
MD Mahendra Nahata highlighted focused execution. Export footprint expanded alongside capacity build-up. Defense portfolio advanced. Revenue mix improved for sustainability. Strong order book and industry dynamics support growth. Profitability and long-term value are expected.