Happy Forgings Limited — Updates, 09-08-2025: Press Release

Happy Forgings delivered resilient Q1FY26 results. Revenue and EBITDA grew 3.6% YoY to ₹354 Cr and ₹101 Cr, respectively, with PAT up 3.0% to ₹66 Cr. Volume growth of 3.8% and stable realisations underpinned performance. Strong domestic demand, especially from Passenger Vehicles and Industrials (+5% combined share), countered sluggish exports and tariff uncertainties. Gross margin expanded to 57.9%, while EBITDA margin remained robust at 28.6%. The company maintains strong liquidity and is progressing on capex for niche, high-value segments, indicating a strategic focus on diversification.