Happy Forgings Limited — Investor Meet, 16-02-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Happy Forgings delivered strong Q3 FY26 results with revenue at INR 391 Cr (+10.4% YoY) and PAT at INR 79 Cr (+22.3% YoY), driven by improved product mix and operational efficiencies. EBITDA margin reached a new high of 30.8%. Management is optimistic about domestic demand and sees stabilization in exports, expecting recovery ahead. New incremental business of ~INR 800 Cr is expected from FY27 onwards, largely industrial and PV, with two-thirds export-oriented. Capacity expansion is underway, and a captive solar plant is projected to reduce power costs by INR 25-30 Cr/annum from FY27. The management conveys a confident outlook for sustained long-term value creation.