HFCL Ltd - 500183 - Compliances-Reg.24(A)-Annual Secretarial Compliance
In terms of Regulation 24A of the SEBI Listing Regulations read with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated July 11, 2023, we are submitting herewith the Annual Secretarial Compliance Report of the Company for the financial year ended March 31, 2024. HFCL Ltd - 500183 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
In terms of Regulation 30 read with Para A of Part A of Schedule III to the SEBI Listing Regulations, the audio recording of the Investors''/ Analysts Conference Call held on May 03, 2024, is hosted on Company''s website i.e., https://www.hfcl.com/. Q4FY24 Quarterly & FY24 Annual Result Announced for HFCL Ltd.
Telecom Cables company HFCL announced Q4FY24 & FY24 results: Revenue in Q4FY24 grew by 28.46% to Rs1,326 crore over Q3FY24. The EBITDA margin increased to 15.78% in Q4FY24 compared to 11.74% in Q4FY23. PAT margin increased to 8.25% in Q4FY24 compared to 5.49% in Q4FY23. Revenue from private customer stands at 74% in FY24 as compared to 83% in FY23. The robust order book is more than Rs 7,600 crore. Dividend Announcement: HFCL recommends a dividend of 20%. Commenting on the Company’s performance, Mahendra Nahata, Managing Director, HFCL said, “that with Government of India’s progressive policies India is poised to become the third-largest economy by 2027 due to its resilience and promising growth prospects, surpassing Japan and Germany. At HFCL, with our multi-pronged approach centering around robust investments in research and development, backward integration, capacity expansion and expanding national and international presence, we have been able to significantly improve on revenue mix; product mix; customer mix and geographical presence ensuring sustainable growth. We conclude FY24 on a positive note and at HFCL, we are delighted to witness a meaningful shift in demand for our communication products, 5G and defense equipment. Our order book has increased to ?7685 crore in FY24 as compared to ?7010 crore in FY23, led by significant multi-million order wins from various reputed customers. HFCL continued its focus on increasing revenue from margin accretive products, expansion of capacities coupled with high-level vertical and horizontal integration in Optical Fiber Cable (OFC), and huge impetus on R&D.; FY 23-24 has witnessed slight decline in YoY revenue due to the softening in demand of OFC. This temporary decline is in line with the worldwide trend. It is attributed to inventory built-up with major operators, resulting in an overall reduction in revenue in absolute terms as well as lower sales realisation per kilometre of fiber. We are filled with optimism for the upcoming fiscal year, led by opportunities arising from OFC, BharatNet-III, 5G, ‘Make in India’ in defence sector and key international markets including North America, Europe, UK, Middle East and Africa. While FY23 and FY24 were marked by significant investments in building products led by innovation, we believe HFCL is now ready to capitalize on its innovative 5G product portfolio, coupled with OFC and opportunities in network integration and defence sector. We have made a strategic move of setting up of OFC manufacturing plant in Poland to expand our presence in European market in line with our strategy of tapping new geographies and new customers. We are optimistic about outlook for demand of telecom equipment and also on restoration of OFC demand from Q2FY25 onwards both in India and key global markets. We are also confident that our continued efforts in designing and developing innovative and geography specific optical fiber cables for international markets, along with the introduction of new 5G telecom networking equipment and defence products, will yield even better results in coming quarters. These efforts are expected to provide impetus to both revenue growth and profitability along with the potential to increase our margins” Result PDF HFCL Ltd - 500183 - Announcement under Regulation 30 (LODR)-Monitoring Agency Report
In terms of Regulations 32(6) of the SEBI Listing Regulations read with Regulation 173A(4) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 ("SEBI ICDR Regulations"), please find enclosed the Monitoring Agency Report for the Quarter ended March 31, 2024 issued by CARE Ratings Limited, Monitoring Agency, appointed to monitor the utilisation of proceeds raised through issuance of equity shares by way of Qualified Institutions Placement. HFCL Ltd - 500183 - Statement Of Deviation(S) Or Variation(S), If Any, Of Utilization Of Proceeds Received From Preferential Issue Of Warrants.
In terms of Regulations 32(1), 32(2) and 32(3) of the SEBI Listing Regulations, a statement of deviation or variation, if any, in utilisation of funds raised through Preferential issue, for the quarter ended March 31, 2024, duly reviewed by the Audit Committee, in the prescribed format is also enclosed herewith. HFCL Ltd - 500183 - Statement Of Deviation(S) Or Variation(S), If Any, Of Utilization Of Proceeds Received From Qualified Institutions Placement (QIP).
In terms of Regulations 32(1), 32(2) and 32(3) of the SEBI Listing Regulations, a statement of deviation or variation, if any, in utilisation of funds raised through Qualified Institutions Placement (QIP), for the quarter ended March 31, 2024, duly reviewed by the Audit Committee, in the prescribed format is enclosed herewith. HFCL Ltd - 500183 - Statement Of Deviation(S) Or Variation(S), If Any, Of Utilization Of Proceeds Received From Qualified Institutions Placement (QIP).
In terms of Regulations 32(1), 32(2) and 32(3) of the SEBI Listing Regulations, a statement of deviation or variation, if any, in utilisation of funds raised through Qualified Institutions Placement (QIP), for the quarter ended March 31, 2024, duly reviewed by the Audit Committee, in the prescribed format is enclosed herewith. HFCL Ltd - 500183 - Announcement under Regulation 30 (LODR)-Investor Presentation
In terms of Regulation 30 read with Para A of Part A of Schedule III to the SEBI Listing Regulations, we hereby submit a copy of the Earnings' Presentation on, inter-alia, the Audited Financial Results of the Company for the 4th Quarter and Financial Year ended March 31, 2024, both on Standalone and Consolidated basis, to be discussed during the Earnings' Call scheduled to be held on Friday, May 03, 2024 at 05:00 p.m. It may be noted that the Board of Directors of the Company has, considered and approved the aforesaid Financial Results of the Company, in its meeting held on May 03, 2024. HFCL Ltd - 500183 - Corporate Action-Board approves Dividend
Dividend for the financial year 2023-24 @ 20%, i.e., Re. 0.20/- per equity share of face value Re.1/- each, out of the Profits of the Company for the financial year 2023-24, which shall be paid, subject to the approval of the shareholders in the ensuing annual general meeting or other authorities, wherever required. The Dividend for the financial year ended March 31, 2024, if declared, at the ensuing annual general meeting, will be paid to the shareholders, within 30 days from the date of declaration. HFCL Ltd - 500183 - Announcement under Regulation 30 (LODR)-Press Release / Media Release
Enclosed please find herewith a Press Release on Audited financial results for the 4th quarter and Financial Year ended March 31, 2024, which were approved by the Audit Committee and Board of Directors at their respective meetings held on May 03, 2024.