India · Delayed Price · Currency is INR Happy Forgings Earnings Call Transcripts
Fiscal Year 2026
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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.
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Record margins and strong cash flow were achieved, driven by domestic growth and a premium product mix, while exports faced headwinds from tariffs and weak global demand. Major CapEx is underway, with new orders secured and further growth expected as new lines ramp up.
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Q1 FY26 saw 3.6% revenue growth and strong margins, driven by new business wins and domestic demand, despite global headwinds and export declines. CapEx and capacity expansion continue, with a medium-term growth outlook of 15%-18% annually.
Fiscal Year 2025
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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.
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Revenue, EBITDA, and PAT grew YoY in Q3 and 9M FY25, driven by domestic and industrial segments, despite global headwinds. Major CapEx for heavyweight forging is underway, with new orders and product launches supporting future growth.
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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.
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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.