Happy Forgings Limited has informed the Exchange regarding a press release dated May 21, 2026, titled "Press release dated 21st May 2026".
HAPPYFORGE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Happy Forgings reported strong Q4FY26 results with revenue up 20.4% YoY to ₹424 crore, driven by 20.6% volume growth. EBITDA grew 30.4% to ₹133 crore with margin expansion of 240 bps to 31.5%, while PAT rose 23.6% to ₹84 crore. For the full year FY26, revenue stood at ₹1,546 crore (up 9.8%), EBITDA at ₹471 crore (up 15.7%), and PAT at ₹302 crore (up 12.8%). The company achieved highest-ever annual profitability with margins expanding across all levels. Volumes grew 11% for FY26 with stable realisations at ₹245/kg. Machined products now contribute 89% of revenue, up from historical levels. The company maintains a fortress balance sheet with cash reserves of ~₹430 crore. Management flagged manageable raw material cost pressures due to geopolitical developments but expects recovery through pass-through arrangements and ongoing customer negotiations. Since FY21, the company has delivered 21% compounded revenue growth and 28% net profit growth while doubling manufacturing capacity.
Strong quarterly and annual results with margin expansion and volume growth signal operational efficiency and pricing power. The 20%+ volume growth and 30%+ EBITDA growth in Q4 are particularly positive, suggesting continued market share gains. However, PAT growth lagged EBITDA due to adverse FX movements, which investors may monitor.