Happy Forgings Limited has informed the Exchange about Transcript
HAPPYFORGE · price
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Happy Forgings reported Q1 FY26 revenue of Rs.354 crore, up 3.6% year-on-year, with EBITDA of Rs.101 crore (margin 28.6%, up 3.6% YoY) and PAT of Rs.66 crore (margin 18.6%, up 3.20% YoY). Volumes grew 3.8% to 14,457 MT with steady realisations of Rs.245 per kg. The company highlighted new order wins of Rs.250 crore from a European farm equipment OEM, Rs.300 crore on the wind side, and Rs.180 crore annual order for data center/industrial components. Management reiterated confidence in sustaining current margins, with room for further improvement as forging utilisation (currently ~59% in tonnage) rises. CAPEX of Rs.300 crore is planned for FY26 (Rs.120 crore already spent in Q1), as part of a larger Rs.650 crore expansion that will take total forging capacity to ~1,50,000 tons. The passenger vehicle segment is targeted to reach 8-10% of revenue in two years, supported by Rs.80 crore committed CAPEX.
Resilient quarterly performance with margin sustenance despite weak CV and export markets is positive for sentiment. New order pipeline of Rs.700+ crore across wind, industrial and European farm segments provides medium-term growth visibility, though near-term headwinds from CV softness and US tariff uncertainty may limit upside.