HFCL bags ₹2,329 crore OFC supply deal from global multinational; Stock up 255% this year

HFCL has entered into a three-year international supply agreement worth approximately ₹2,329 crore with a global multinational corporation for the supply of high-quality, high-fibre-count Optical Fibre Cables (OFC).

The company, in an exchange filing on Tuesday, September 1, announced that the total value of the contract is estimated at around $244 million. The agreement will be executed through HFCL's overseas wholly owned subsidiary.

Under the agreement, HFCL will supply multi-million fibre kilometres of high-quality, high-fibre-count OFC in each calendar year from 2027 to 2029. The contract is scheduled to be executed through December 2029.

The company said the order reinforces its ability to secure strategic long-term engagements and reflects its technological capabilities, operational excellence and customer trust.

HFCL said the engagement strengthens its competitive positioning in the global OFC market, noting that only a limited number of manufacturers globally have the technology depth, manufacturing precision and scale required for such complex OFC products.

The company has not disclosed the identity of the global multinational corporation in the exchange filing.

HFCL's filing also states that the promoter or promoter group has no interest in the entity awarding the contract and that the agreement does not fall under related-party transactions.

HFCL Q1 Results

HFCL reported its strongest-ever quarterly performance in Q1FY27, with revenue more than doubling year-on-year and the company returning to profitability, driven by higher exports, an improved product mix and stronger operating leverage.

Consolidated revenue rose 120% year-on-year to a record ₹1,915 crore, while EBITDA surged to ₹414 crore from ₹29 crore a year ago. The company reported a net profit of ₹228.6 crore, compared with a loss of ₹32.2 crore in the year-ago quarter. EBITDA margin expanded to 21.6% from 3.3%.

Exports were a key growth driver, contributing ₹1,063 crore, or 55.5% of revenue, compared with ₹210 crore a year earlier. The product business also increased its contribution to 85% of revenue from 66% in Q1FY26.

HFCL's order book stood at a record ₹26,665 crore, providing strong revenue visibility. Following the strong quarter, the company raised its FY27 revenue growth aspiration to 40%.

The company has also approved a ₹215 crore investment to set up a manufacturing facility for advanced AI data centre connectivity solutions. Its capacity expansion plans include increasing optical fibre capacity to 34 million fibre kilometres and optical fibre cable capacity to 43 million fibre kilometres.



Shares of the company were trading 2.5% down at ₹242.85 on Tuesday. The stock has advanced more than 252% so far in 2026 and 240% over the last 12 months.