Happy Forgings Limited — Investor Meet, 13-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Happy Forgings reported strong Q2 FY26 results with 377 Cr revenue (+4.5% YoY) and 73 Cr PAT (+10%). H1 revenue hit 731 Cr. The company achieved record Q2 gross (60%) and EBITDA (31%) margins, driven by value-added machining and stable realizations. Domestic demand fueled growth, countering export softness from global weakness and US tariffs. With 315 Cr cash and low debt, Happy Forgings is executing a 650 Cr capex, securing 350 Cr in new orders for future-focused segments like wind and heavy axles. Management is bullish on growth from next year, aiming for diversified, higher-value offerings.