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HFCL to invest Rs 350 million to expand OFC manufacturing facility at Hyderabad

January 08, 2019
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As per a regulatory filing, Himachal Futuristic Communications Limited (HFCL) will invest Rs 350 million to expand its optical fibre manufacturing facility at Hyderabad from around 8 million Fibre Kilometre (fkm) to 10.5 million fkm.

With regard to this, HFCL recently held a board meeting, wherein the proposal to enhance additional manufacturing capacity of optical fibre cable (OFC) at Hyderabad from 7 million fkm to 10.5 million fkm was approved. With this, HFCL’s total production capacity will increase to 18.5 fkm by June 2019. The company is already working on adding 7 million fkm.

In addition, HFCL’s board approved interim dividend of Rs 3.25 per share on cumulative redeemable preference shares (CRPS) of Rs 100 each for financial year 2018-19. HFCL board also approved redemption of around 6.5 per cent CRPS of Rs 100 each worth Rs 603.8 million.

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