HFCL Ltd.revenue +144%, EBITDA margin 25.9%, growth guide at least 80%

HFCL's Q2 FY27 call, held on 19 October 2026, reported its best-ever quarter, with consolidated revenue of ₹2,541.79 crore, up about 144% on the year and 33% on the quarter, EBITDA of ₹658 crore at a margin of 25.89%, and profit after tax of ₹394.22 crore, up 448%.

The order book is ₹28,900 crore, and management raised its FY27 revenue growth expectation to at least 80%, from 20% at the start of the year and 40% after Q1, and said the ₹10,000 crore FY29 target could come much sooner. Connectivity solutions are expected to reach ₹800 crore this year and ₹2,000 crore next, and defence is expected at ₹500 to ₹600 crore this year and at least ₹2,000 crore next, with an aerospace acquisition closing this quarter.

The EPC segment lost about ₹121 crore and is expected to lose ₹75 to ₹100 crore over the next two quarters. Management sees no slowdown from rising US rates. No earlier promises were on file for comparison.