Happy Forgings Reports Robust Q4 And FY26 Results
ECONOMY & POLICY

Happy Forgings Reports Robust Q4 And FY26 Results

Happy Forgings Limited reported audited consolidated results for the quarter and year ended 31 March 2026, recording strong volume and revenue growth. Consolidated revenue in the quarter rose 20.4 per cent to Rs. 4,240 million (mn), driven by volume growth of 20.6 per cent and broad-based demand across key segments. The company described the quarter as one of strong execution, with margin expansion and improving operating leverage.

Gross profit for the quarter increased 21.9 per cent to Rs. 2,520 mn, lifting the gross profit margin by 70 basis points to 59.4 per cent. EBITDA rose 30.4 per cent to Rs. 1,330 mn and the EBITDA margin expanded by 240 basis points to 31.5 per cent. Profit after tax for the quarter was Rs. 840 mn, up 23.6 per cent, with the PAT margin improving to 19.7 per cent.

For the full year, revenue rose 9.8 per cent to Rs. 15.46 billion (bn) on year growth in finished goods volumes of 11 per cent, while gross profit increased 11.9 per cent to Rs. 9,150 mn and gross margin improved to 59.1 per cent. Full year EBITDA grew 15.7 per cent to Rs. 4,710 mn with an EBITDA margin of 30.4 per cent, and PAT for FY26 was Rs. 3,020 mn, up 14.8 per cent with a PAT margin of 19.5 per cent. The company reported that forged and machined components contributed 89 per cent of revenue for the year.

Management noted that quarterly margin expansion reflected product mix, operating leverage and execution, while PAT growth was moderated by adverse foreign exchange movements. The company reported reduced working capital intensity and healthy cash flow conversion, with liquidity of about Rs. 4,300 mn on the balance sheet. It also indicated a robust pipeline of incremental business and encouraging wins in the export market.

The company highlighted continued traction across commercial vehicles, passenger vehicles, farm equipment and industrial segments and reiterated ongoing capacity expansion to support growth. It stated that margin outcomes and delivery will depend on macroeconomic and geopolitical stability and on agreed pass-through mechanisms with customers. The firm affirmed its strategic transition to a high-precision engineering business as a driver of long-term value creation.

Happy Forgings Limited reported audited consolidated results for the quarter and year ended 31 March 2026, recording strong volume and revenue growth. Consolidated revenue in the quarter rose 20.4 per cent to Rs. 4,240 million (mn), driven by volume growth of 20.6 per cent and broad-based demand across key segments. The company described the quarter as one of strong execution, with margin expansion and improving operating leverage. Gross profit for the quarter increased 21.9 per cent to Rs. 2,520 mn, lifting the gross profit margin by 70 basis points to 59.4 per cent. EBITDA rose 30.4 per cent to Rs. 1,330 mn and the EBITDA margin expanded by 240 basis points to 31.5 per cent. Profit after tax for the quarter was Rs. 840 mn, up 23.6 per cent, with the PAT margin improving to 19.7 per cent. For the full year, revenue rose 9.8 per cent to Rs. 15.46 billion (bn) on year growth in finished goods volumes of 11 per cent, while gross profit increased 11.9 per cent to Rs. 9,150 mn and gross margin improved to 59.1 per cent. Full year EBITDA grew 15.7 per cent to Rs. 4,710 mn with an EBITDA margin of 30.4 per cent, and PAT for FY26 was Rs. 3,020 mn, up 14.8 per cent with a PAT margin of 19.5 per cent. The company reported that forged and machined components contributed 89 per cent of revenue for the year. Management noted that quarterly margin expansion reflected product mix, operating leverage and execution, while PAT growth was moderated by adverse foreign exchange movements. The company reported reduced working capital intensity and healthy cash flow conversion, with liquidity of about Rs. 4,300 mn on the balance sheet. It also indicated a robust pipeline of incremental business and encouraging wins in the export market. The company highlighted continued traction across commercial vehicles, passenger vehicles, farm equipment and industrial segments and reiterated ongoing capacity expansion to support growth. It stated that margin outcomes and delivery will depend on macroeconomic and geopolitical stability and on agreed pass-through mechanisms with customers. The firm affirmed its strategic transition to a high-precision engineering business as a driver of long-term value creation.

Next Story
Resources

LIXIL Posts 23 Per Cent Rise in Core Earnings

LIXIL Corporation reported a 22.9 per cent increase in core earnings to ¥38.5 billion for the fiscal year ended 31 March 2026, supported by resilient international operations and strong growth across the India, Middle East and Africa (IMEA) region.The company posted consolidated revenue of ¥1,510.7 billion, up 0.4 per cent year on year, while EBITDA rose by ¥7.1 billion to ¥121.6 billion. Net profit attributable to owners of the parent increased to ¥8.1 billion, aided by improved operating performance and lower corporate income tax expenses.International business revenue grew to ¥520.9 b..

Next Story
Real Estate

Hubtown Launches 3D OOH Campaign For Rising City

Hubtown has launched a 3D anamorphic Out-of-Home (OOH) campaign across Mumbai for its residential project, Rising City, located at Ghatkopar East.The campaign highlights that Rising City is officially OC-ready, presenting the project’s readiness through a high-impact digital visual. The animation shows a giant fist breaking through a glass-like screen and revealing a golden key, symbolising immediate possession for homebuyers.The campaign carries the message, “Everyone talks about OC received. But how many developers hand you the key... literally?” It aims to simplify the importance of a..

Next Story
Building Material

Ramco Cements' Hard Worker Campaign Wins Seven Awards

The Hard Worker campaign by The Ramco Cements has secured seven honours at the Good Ads Matter Awards 2026, adding to its growing list of accolades and reinforcing its standing among the year’s most recognised advertising campaigns.The awards were presented during the Good Ads Matter Awards Night 2026 held at Mehboob Studios in Mumbai. The campaign received recognition across multiple categories, highlighting excellence in direction, editing, cinematography and storytelling.Among the honours, the campaign won Silver in the Campaign of the Year – Direction category, while filmmaker Prakash ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement