Integrated Filing — IndAS



General information about company
Scrip Code 500183
NSE Symbol HFCL
MSEI Symbol NOTLISTED
ISIN INE548A01028
Name of company HFCL LIMITED
Type of company Main Board
Class of security Equity
Date of start of financial year 01-Apr-2025
Date of end of financial year 31-Mar-2026
Date of board meeting when results were approved 25-Jul-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 18-Jul-2025
Description of presentation currency INR (in Actuals)
Reporting Type Quarterly
Reporting Quarter First quarter
Nature of report standalone or consolidated Standalone
Whether results are audited or unaudited for the quarter ended Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended
Segment Reporting Multi segment
Description of single segment
Start date and time of board meeting 25-Jul-2025   12:00:00
End date and time of board meeting 25-Jul-2025   12:50:00
Whether cash flow statement is applicable on company
Type of cash flow statement
Declaration of unmodified opinion or statement on impact of audit qualification Not applicable
Whether the company has any related party?
Whether the company has entered into any Related Party transaction during the selected half year for which it wants to submit disclosure?
(I) We declare that the acceptance of fixed deposits by the bans/Non-Banking Finance Company are at the terms uniformly applicable/offered to all shareholders/public
(II) We declare that the scheduled commercial bank, as per RBI circular RBI/DBR/2015-16/19 dated March 03, 2016, has allowed additional interest of one per cent per annum, over and above the rate of interest mentioned in the schedule of interest rates on savings or a term deposits of banks staff and their exclusive associations as well as on deposits of Chairman, Chairman & Managing Director, Executive Director or such other Executives appointed for a fixed tenure.
Whether the company is a high value debt listed entity according to regulation 15 (1A)?
(a) If answer to above question is Yes, whether complying with proviso to regulation 23 (9), i.e., submitting RPT disclosures on the day of results publication?
(b) If answer to above question is No, please explain the reason for not complying.
Whether the updated Related Party Transactions (RPT) Policy (in compliance with Reg. 23 of SEBI LODR) has been uploaded on the website of the Company?
Latest Date on which RPT policy is updated
Indicate Company website link for updated RPT policy of the Company
Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter? Yes
No. of times funds raised during the quarter 1
Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity? No
Not Applicable



Financial Results Ind-AS
Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-Apr-2025
B Date of end of reporting period 30-Jun-2025
C Whether results are audited or unaudited Unaudited
D Nature of report standalone or consolidated Standalone
Part I Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
1 Income
Revenue from operations 7892800000
Other income 140900000
Total income 8033700000
2 Expenses
(a) Cost of materials consumed 4225900000
(b) Purchases of stock-in-trade 2347700000
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade -405100000
(d) Employee benefit expense 841600000
(e) Finance costs 477400000
(f) Depreciation, depletion and amortisation expense 281400000
(f) Other Expenses
1 Other Expenses 893700000 893700000
Total other expenses 893700000
Total expenses 8662600000
3 Total profit before exceptional items and tax -628900000
4 Exceptional items 0
5 Total profit before tax -628900000
6 Tax expense
7 Current tax 0
8 Deferred tax -205500000
9 Total tax expenses -205500000
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0
11 Net Profit Loss for the period from continuing operations -423400000
12 Profit (loss) from discontinued operations before tax 0
13 Tax expense of discontinued operations 0
14 Net profit (loss) from discontinued operation after tax 0
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0
16 Total profit (loss) for period -423400000
17 Other comprehensive income net of taxes 395500000
18 Total Comprehensive Income for the period -27900000
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent
Total profit or loss, attributable to non-controlling interests
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent
Total comprehensive income for the period attributable to owners of parent non-controlling interests
21 Details of equity share capital
Paid-up equity share capital 1442100000
Face value of equity share capital 1
27 Details of debt securities
22 Reserves excluding revaluation reserve
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations -0.29
Diluted earnings (loss) per share from continuing operations -0.29
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0
Diluted earnings (loss) per share from discontinued operations 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations -0.29
Diluted earnings (loss) per share from continuing and discontinued operations -0.29
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results
Textual Information(1) Notes n1 The above Unaudited Standalone Consolidated Financial Results of the Company for the first quarter ended 30th June 2025 have been reviewed and recommended by the Audit Committee and were approved by the Board of Directors of the Company at their respective meetings held on 25th July 2025 n2 The above Results are in compliance with the Indian Accounting Standards IndAS as prescribed under Section 133 of the Companies Act 2013 read with the Companies Indian Accounting Standards Rules 2021 as amended n3 During the Financial year 202324 the Company had issued 51014491 equity shares of face value of Re 1 each at an issue price of Rs69 per equity share including premium of Rs68 per equity share aggregating to Rs 35200 Crore including securities premium of Rs34690 Crore The issue was made through eligible Qualified Institutions Placement QIP in terms of chapter VI of the Securities and Exchange Board of India Issue of Capital and Disclosure Requirements Regulations 2018 as amended Section 42 62 and other relevant provisions of the Companies Act 2013 Out of the proceeds from QIP issue the Company had utilized Rs 29380 Crore including share issue expenses towards purposesobjects specified in the placement documentThe balance amount of QIP proceeds amounting to Rs5820 Crore remains invested in fixed deposits with scheduled commercial banks as interim use of funds Further the balance unutilized amount of Rs5820 crores originally earmarked for capital expenditure in accordance with the Placement Document dated August 31 2023 was to be utilized by July 31 2025 The Board at its meeting held today ie July 25 2025 has approved an extension of the timeline for utilization of the said amount up to March 31 2026 n4 The Consolidated financial results for the first quarter ended 30th June 2025 includes the results of the following entities na HFCL Limited (HFCL) (Holding Company) nb HTL Limited (Subsidiary) nc Raddef Private Limited (Subsidiary) nd Moneta Finance Private Limited (Wholly owned Subsidiary) ne Polixel Security Systems Private Limited (Wholly owned Subsidiary) nf HFCL Advance Systems Private Limited (Wholly owned Subsidiary) ng DragonWave HFCL India Private Limited (Wholly owned Subsidiary) nh HFCL Technologies Private Limited (Wholly owned Subsidiary) ni HFCL Inc United States of America (Wholly owned Subsidiary) nj HFCL BV Netherlands (Wholly owned Subsidiary) nk Nimpaa Telecommunications Private Limited (Jointly Controlled Entity) nl BigCat Wireless Private Limited (Jointly Controlled Entity) nm HFCL Canada Inc Canada (Wholly owned Subsidiary of HFCL BV Netherlands) nn HFCL Poland Sp zoo (Formerly Blue Diwali Sp zoo Poland) (Wholly owned Subsidiary of HFCL BV Netherlands) no HFCL UK Limited United Kingdom (Wholly owned Subsidiary of HFCL BV Netherlands) np HFCL Pty Limited Australia (Wholly owned Subsidiary of HFCL BV Netherlands) n5 Earning per share is not annualised for the Quarter ended 30th June 2025 31st March 2025 and 30th June 2024 n6 The Figures of the quarter ended March 31 2025 were balancing figures between audited figures in respect of the full financial year ended 31st March 2025 and the published year to date figures upto the third quarter of the respective financial year which were subject to limited review by the Auditors n7 The figures of the previous periods have been regrouped rearranged wherever considered necessary n n n n(Mahendra Nahata) nManaging Director nDIN 00052898 n nPlace : New Delhi nDate : 25th July, 2025 n n



Remarks
Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results
Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-Apr-2025
Date of end of reporting period 30-Jun-2025
Whether accounts are audited or unaudited Unaudited
Nature of report standalone or consolidated Standalone
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
1 Telecom Products 4855700000 4855700000
2 Turnkey Contracts and Services 3037100000 3037100000
3 Others 0 0
Total Segment Revenue 7892800000
Less: Inter segment revenue 0 0
Revenue from operations 7892800000
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
1 Telecom Products 288400000 288400000
2 Turnkey Contracts and Services -532900000 -532900000
3 Others 0 0
Total Profit before tax -244500000
i. Finance cost 477400000 477400000
ii. Other Unallocable Expenditure net off Unallocable income -93000000 -93000000
Profit before tax -628900000
3 (Segment Asset - Segment Liabilities)
Segment Asset
1 Telecom Products 28991900000 28991900000
2 Turnkey Contracts and Services 35036600000 35036600000
3 Others 0 0
Total Segment Asset 64028500000 64028500000
Un-allocable Assets 7812100000 7812100000
Net Segment Asset 71840600000 71840600000
4 Segment Liabilities
Segment Liabilities
1 Telecom Products 12237600000 12237600000
2 Turnkey Contracts and Services 10993500000 10993500000
3 Others 0 0
Total Segment Liabilities 23231100000 23231100000
Un-allocable Liabilities 9012000000 9012000000
Net Segment Liabilities 32243100000 32243100000
Disclosure of notes on segments



Other Comprehensive Income
Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-Apr-2025
B Date of end of reporting period 30-Jun-2025
C Whether results are audited or unaudited Unaudited
D Nature of report standalone or consolidated Standalone
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Items that will not be reclassified to profit or loss 390500000 390500000
Total Amount of items that will not be reclassified to profit and loss 390500000
2 Income tax relating to items that will not be reclassified to profit or loss 3300000
3 Amount of items that will be reclassified to profit and loss
1 Items that will be reclassified to profit or loss 8300000 8300000
Total Amount of items that will be reclassified to profit and loss 8300000
4 Income tax relating to items that will be reclassified to profit or loss 0
5 Total Other comprehensive income 395500000





Statement on Deviation or Variation for proceeds of Public Issue, Rights Issue, Preferential Issue, Qualified Institutions Placement Etc. (1)
Mode of Fund Raising QIP
Description of mode of fund raising (Applicable in case of others is selected)
Date of Raising Funds 31-Aug-2023
Amount Raised 3520000000
Report filed for Quarter ended 30-Jun-2025
Monitoring Agency Applicable
Monitoring Agency Name, if applicable Care Ratings Limited
Is there a Deviation / Variation in use of funds raised No
If yes, whether the same is pursuant to change in terms of a contract or objects, which was approved by the shareholders
If Yes, Date of shareholder Approval
Explanation for the Deviation / Variation Not Applicable
Comments of the Audit Committee after review No Comments
Comments of the auditors, if any No Comments
Sr. Original Object Modified Object, if any Original Allocation Modified allocation, if any Funds Utilised Amount of Deviation/Variation for the quarter according to applicable object Remarks if any
1 Capital expenditure NA 750000000 0 168000000 0 Funds utilised during the quarter: Rs.3.68 Crores
2 Research and Development Expenditure NA 850000000 0 850000000 0
3 Repayment/prepayment of our short term borrowings NA 740400000 0 740400000 0
4 Funding Working Capital Requirements NA 750000000 0 750000000 0
5 General corporate purposes NA 334600000 336500000 336500000 0 The actual issue proceeds come to Rs.352 Crore approx. and as per placement document, the expenses related to the issue were estimated at Rs.9.50 Crores. However, the actual issue related expenses incurred as on December 31, 2023 were Rs.9.31 Crores. Accordingly, the balance unutilised Rs.0.19 Crore were already transferred to the Monitoring Account on December 30, 2023. During the quarter ended December 31, 2023, the utilisation of funds under the object General corporate purposes increased from estimated amount of Rs.33.46 Crore to Rs.33.65 Crore due to decline in actualization of issue expenses from the estimated issue expenses by Rs.0.19 Crore. Accordingly, the net issue proceeds allocated towards various Objects are Rs.342.69 Crore.


Signatory Details
Name of signatory Manoj Baid
Designation of person Company Secretary and Compliance Officer
Place New Delhi
Date 25-Jul-2025