• Revenue growth outlook: HFCL targets doubling its revenue from approximately 4,900 crore to 10,000 crore by FY29, driven by capacity expansion in fiber optic cables, telecom/data center interconnect solutions, and defense manufacturing.
• Vertical revenue projections: The connectivity solutions vertical is projected to generate roughly 500 crore this year and 1,000 crore next year, while defense revenue is expected to reach at least 500 crore this year and cross 2,000 crore in two years.
• Margin expansion drivers: Management expects EBITDA margins to expand by 2 to 3% to reach 20–21%, aided by backward integration into fiber preforms, long-term customer contracts, and higher-margin defense contracts.
• Hyperscaler order execution: Deliveries for a $1.1 billion hyperscaler order will begin in June at an annual run rate of $200 million, while remaining capacity is being held for higher-realization spot market opportunities.