India · Delayed Price · Currency is INR Happy Forgings Earnings Call Transcripts
Fiscal Year 2026
-
Record FY 2026 results with revenue up 9.8% and EBITDA margin at 30.4%. Strong growth in domestic CV and farm segments, robust order book, and major CapEx for capacity and solar power. Outlook for FY 2027 is optimistic with late-teen volume growth expected.
-
Q3 and nine-month FY26 saw record revenue, margins, and profitability, driven by strong domestic growth in CV, farm, and industrial segments, while exports stabilized amid global headwinds. Capacity expansions and a robust order book position the company for continued growth and margin resilience.
-
Q2 and H1 FY26 saw record margins and strong cash flow, driven by domestic growth and value-added product mix, despite export headwinds and global uncertainties. Strategic Capex and new business wins position the company for continued growth and improved returns.
-
Q1 FY26 saw 3.6% revenue growth and resilient margins despite global headwinds, with strong domestic performance and new order wins in farm, wind, and industrial segments. CapEx and capacity expansion remain on track, supporting a medium-term growth outlook of 15%-18%.
Fiscal Year 2025
-
FY 2025 saw stable growth with revenue up 4.7% YoY (adjusted), EBITDA up 7.4%, and PAT up 11.2%, despite global headwinds. Strong cash flows, robust margins, and new orders in Passenger Vehicles and Industrials support a positive medium-term outlook.
-
Revenue, EBITDA, and PAT grew YoY in Q3 and 9M FY25, with strong domestic and industrial segment performance despite global headwinds. New CapEx and order wins position the business for future growth, while export and steel price risks remain.
-
Revenue and profit grew year-on-year in Q2 and H1 FY25, with industry-leading margins and strong cash reserves. Diversification and capacity expansion support resilience, while export and industrial segments are set for significant growth in the next 2-3 years.
-
Q1 FY25 saw 7% adjusted revenue growth and stable margins despite sectoral headwinds and export challenges. Capacity expansions and new orders, especially in EV and North America, are set to drive double-digit growth, with CapEx funded by internal accruals.