Press release dated 21st May 2026

Revenue growth above 20%Profit growth above 25%EBITDA margin expansionResults View source PDF Explain this filing

HAPPYFORGE · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

-5.4%Reaction day

₹1452.00

prior close

₹1478.90

announcement price

After-mkt

timing

Nifty Microcap 250market · index membership as recorded later (tracked since Jun 2026)+0.1%-5.5% vs market

Castings & Forgings peers, median of 21sector+0.1%-5.4% vs sector

On the reaction day the stock moved 5.5 pts less than Nifty Microcap 250 and 5.4 pts less than its Castings & Forgings peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-2.2

10m

-1.7

15m

-3.2

30m

-5.7

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-5.4+0.1-5.5+0.1-5.4

Next day

-5.0+1.7-6.7+0.5-5.5

-4.3+2.4-6.7+0.9-5.2

-2.2+2.4-4.6+2.0-4.2

-4.9+1.7-6.6-1.1-3.8

-2.2+0.6-2.8-0.7-1.5

-3.2+1.9-5.2+0.7-3.9

15d

-7.1+4.9-12.0+1.7-8.8

+7.1+8.9-1.8+4.6+2.5

+9.8+7.5+2.3+4.3+5.5

+51.8+13.6+38.2+13.6+38.2

UpDownMarket · Nifty Microcap 250Sector · Castings & Forgings peers, median of 21Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Happy Forgings reported strong Q4FY26 results with revenue up 20.4% YoY to ₹424 crore, driven by 20.6% volume growth. EBITDA jumped 30.4% to ₹133 crore with margin expanding 240 bps to 31.5%, while PAT grew 23.6% to ₹84 crore. For FY26 full year, revenue was ₹1,546 crore (up 9.8%), EBITDA ₹471 crore (up 15.7%), and PAT ₹302 crore (up 14.8%). The company highlighted margin expansion across all levels, improved working capital efficiency, and growth across commercial vehicles, passenger vehicles, farm equipment, and industrial segments. Management noted healthy cash generation with cash reserves of ~₹430 crore and stated the company is well-positioned for growth ahead of historical trajectory.

Likely market impact

Strong operational performance with margin expansion signals operational efficiency and pricing power. The 30%+ EBITDA growth and 240 bps margin expansion are positive signals for shareholders, indicating the company is successfully executing its high-precision engineering transition. The fortress balance sheet with ~₹430 crore cash provides flexibility for future growth.