📶 HFCL Bags ₹174 Cr 5G Equipment Order – Can ₹86 CMP Ride the Network Wave or Just Buffer?

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✅ At a Glance

Metric	Value
📢 Announcement Date	May 19, 2025
🏢 Client	Affiliate of Indian Telco
📦 Order Size	₹173.72 Cr (excl. taxes)
⚙️ Product	5G Outdoor CPE (Customer Prem Equip)
⏳ Execution Deadline	September 2025
📉 CMP (20 May 2025)	₹86.00
🔮 Market Sentiment	Neutral-to-positive

HFCL isn’t building a 5G network — it’s building the boxes that sit on your roof, helping the signal find your Netflix.

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🏭 What Did HFCL Announce?

• Received a ₹173.72 Cr purchase order
• From an affiliate of a major Indian telecom company (likely Jio or Airtel)
• For indigenously manufactured 5G Outdoor CPEs
• Part of HFCL’s Make in India for 5G strategy
• Timeline to complete: by September 2025

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📡 What’s a 5G Outdoor CPE?

A CPE (Customer Premise Equipment) is the device that sits between the telecom tower and your home/business.

Think:

• 📶 High-band 5G antennas
• 📡 Fixed wireless access points
• 🔄 Bridge between fiber and Wi-Fi in areas where fiber isn’t available

Basically, they deliver broadband without digging up roads.

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🧠 Why This Deal Matters

✅ 1. It Proves HFCL Isn’t Just an Optical Fiber Stock

• They manufacture switches, routers, antennas, and now full-scale 5G CPEs.
• This ₹174 Cr order boosts non-fiber revenue streams.

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🚀 2. B2B + Infra = High Margin Potential

• CPEs have better margins than commodity fiber cable.
• HFCL has been trying to pivot to “Tech + Infra”, not just “Wires & Spools”.

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🛡️ 3. Strategic Positioning Ahead of Rural 5G Expansion

• This order likely feeds into rural broadband push under PM-WANI / BharatNet type projects.

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📊 CMP & Valuation Snapshot

Metric	Value
CMP	₹86.00
FY25 EPS (Est.)	₹3.10
P/E Ratio	~27.7x
FV (Edu Estimate)	₹68–72

➡️ Stock is trading slightly above fair value, likely pricing in future 5G orders, defence exports, and infra revival.

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🧠 EduInvesting Take

“HFCL is trying to go from ‘low margin infra supplier’ to ‘India’s 5G sidekick’. This order says that plan might be working.”

This ₹174 Cr order won’t change the company — but it validates the direction.

They’re executing consistently, building a clean order book, and avoiding hype cycles like Tejas or Sterlite.

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🏁 Final Verdict

✔️ 5G product diversification
✔️ “Make in India” execution story
✔️ Clean, debt-light company
❌ No margin guidance
❌ Still small compared to large cap 5G players

“At ₹86, HFCL is no longer dirt cheap — but it’s not a trap either. You’re paying a small premium for 5G momentum.”

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Tags: HFCL 5G order, ₹173 Cr CPE deal, HFCL CMP ₹86, Make in India 5G, telecom infra India, customer premise equipment, HFCL earnings preview, EduInvesting coverage