Telecom infrastructure player HFCL has inaugurated a defence manufacturing facility in Tamil Nadu’s Hosur, as part of its effort to play in the domestic defence manufacturing segment, sending the share prices higher by over 2% in mid-day trade on December 23.
The facility, inaugurated on December 23, will manufacture advanced thermal weapon sights, electronic fuzes, High Capacity Radio Relay (HCRR) and surveillance radars. The company said it sees a ‘growing demand’ for high-precision defense technologies, and the Hosur facility will emerge to be ‘vital’ for India’s export potential.
“This strategic milestone underlines HFCL’s commitment to strengthening India’s self-reliance in defense manufacturing, in line with the nation’s Atmanirbhar Bharat vision,” said the company statement.
HFCL said it aims to meet the evolving needs of armed forces as well as emerge as a supplier in the global defence market. “This facility will allow us to deliver world-class defense technologies to armed forces, enabling them to operate with greater efficiency and confidence in critical missions,” said Mahendra Nahata, MD, HFCL. The facility aims to make up to 5,000 Thermal Weapon Sights, 2.50 lakh electronic fuzes, 1,000 units each of radio relays and surveillance radars every year.
G Satheesh Reddy, Chairman of Defence Research and Development Organisation (DRDO) and Scientific Advisor to the Defence Minister urged HFCL to also focus on becoming a global exporter of quality defense products.
On a YTD basis, shares of HFCL are higher by 35% with a market capitalisation of over Rs 16,600 crore. Over the years, HFCL has developed capabilities to produce quality optical fiber cables and telecom products.
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