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HFCL announces Q1 FY2019-20 results

Posted On: 2019-07-10 21:46:54

Himachal Futuristic Communications Limited - HFCL (BSE:500183, NSE:HFCL), India's leading telecom infrastructure developer, system integrator and manufacturer of high-end telecom equipment and optical fibre cables delivered spectacular quarterly performance to start the financial year 2019-20 (FY20) on a high note.

The Company exceeds all previous quarterly performance benchmarks in Q1FY20 and has reported remarkable quarterly performance with the consolidated revenue ~ 1343 Crs (+23%), EBIDTA- ~ 194 Crs (+104%), PBT ~ 157 Crs (+116%) and PAT-~ 117 Crs (+148%). The all-round performance was powered by change in revenue mix, accelerated project execution and efficiency improvement.

On standalone basis, the Company has achieved revenue of~ 1201 Crs (+16%), EBIDTA of~ 164 Crs (+84%), PBT of~ 136 Crs (+94%) and PAT of~ 89 Crs (+102%).

Having achieved significant growth in revenue , Company's focus has been on driving increased margins. A lot of initiative that the Company had taken towards business transformation have now fructified. The impressive spurt in performance is attributable to this strategy which was implemented across all the business streams.

Commenting on the performance, Mr. Mahendra Nahata, the Managing Director said, 11 While Q1FY20 can be termed as an excellent Quarter for HFCL, what is more remarkable is the consistency at which the Company is able to deliver stellar performance. The holistic strengthening of organisational capabilities undertaken over the last 7-8 quarters is beginning to show the results. Reflecting on the road ahead for HFCL, he further added, II We are focused on new products and technologies which shall open additional growth avenues and ensure sustainability. We also continue to leverage our core strength of design, development and management of communication networks in newer application domains such as railways, defence and safe & smart cities. In addition to export of Optical Fiber Cables, we are also expanding our business geographies in new domains".

The construction work at Company's greenfield Optical Fiber manufacturing plant at Hyderabad has entered its last leg during the quarter. The plant shall go onstream by its scheduled commissioning target of November 2019. Capacity augmentation in Optical Fiber Cable manufacturing at Company's subsidiary, HTL, shall get completed by the end of July,2019. Development of new range of WiFI products is progressing well. The Company is focu ssed on R&D efforts with design and development of more telecom products being undertaken. CARE reaffirmed credit rating of A- (stable outlook) for Company's long term Bank facilities. Gearing continues to be at comfortable level of 0.39.

Shares of HIMACHAL FUTURISTIC COMMUNICATIONS LTD. was last trading in BSE at Rs.20.2 as compared to the previous close of Rs. 19.8. The total number of shares traded during the day was 358470 in over 889 trades.

The stock hit an intraday high of Rs. 20.4 and intraday low of 19.7. The net turnover during the day was Rs. 7175419.

Source: Equity Bulls

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