Maithan Alloys Acquires 0.17% Stake In HFCL For ₹60.09 Crore

Mumbai: Maithan Alloys Ltd announced on Monday that it has acquired a 0.17 per cent shareholding in HFCL Limited, involving 25.27 lakh shares, for ₹60.09 crore. The transaction was executed through the stock exchange.

Acquisition Rationale

Maithan Alloys stated that the shares were acquired as an investment to gain long-term and short-term investment benefits. The company clarified that it does not intend to acquire direct or indirect control over the management of HFCL Limited.

HFCL's Business Profile

HFCL Limited is a technology enterprise specialising in high-end Telecom and Defence Equipment, Optical Fibre, Optical Fibre Cables, and Passive Connectivity Solutions. The company also builds digital networks for telcos, enterprises, and governments, in addition to providing Engineering, Procurement, and Construction services.

Financial Overview of HFCL

As of 31 March 2026, HFCL reported a turnover of ₹4,528 crore, a profit after tax (PAT) of ₹253 crore, and a net worth of ₹4,727 crore. Its turnover for the financial year 2024-2025 was ₹3,795 crore, and for 2023-2024, it was ₹4,075 crore.

Transaction Details

The acquisition was a cash consideration and was undertaken at arm's length. No governmental or regulatory approvals were required for the transaction, and it does not involve any related party transactions.

Disclaimer: This story is based on company exchange filings and is for informational purposes only. Investors should evaluate risks before making decisions.