| Revenue growth | Q2 +32.7%, H1 +29.9% YoY |
|---|---|
| Margins | Q2 EBITDA margin 30.6%, down 11 bps YoY |
| Demand visibility | Strong demand visibility; order book supports capex |
| Management confidence | Optimistic; expects strong full-year profitability |
Growth
H1FY27 EBITDA ₹294 Cr (+35.5%), PAT ₹189 Cr (+35.8%); FG volume +24%, realisation ₹260/kg (+4.8%).
Outlook
Approved ~₹500 Cr extra capex; Dugri heavy-component plant (₹650 Cr) operational FY28. Management expects strong full-year profitability; no quantified guidance.
Risks
Raw material price rises and geopolitical shipment cost increases may temporarily pressure margins; Q2 EBITDA margin down 11 bps.
Last quarter's promises, checked
Delivered
- High-teen FG volume growth FY27 → H1 volume +24% (= BEAT)
- Price revisions fully in P&L from Q2 → Q2 realisation +6.3% via pass-through (= BEAT)
- EBITDA margin upwards of 30% → Q2 30.6% (= BEAT)
Partly delivered
- EBITDA margin in line with FY26, potential further improvement → Q1 31.3%, Q2 30.6%, Q2 down 11 bps YoY (= PARTIAL)
Investor Presentation filed with NSE, NSE: HAPPYFORGE. Summary written with AI assistance from the document.
Happy Forgings Ltd: key numbers
- Share price
- ₹1,891.00
- Market cap
- ₹17,851 Cr
- Revenue (annual)
- ₹1,546 Cr
- Net profit (annual)
- ₹301.6 Cr
- P/E (TTM)
- 54.5×Sector 52.6×
- Promoter holding
- 78.44%-0.02% QoQ
- FII holding
- 2.37%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from Happy Forgings Ltd
All →Happy Forgings Results Update
Happy Forgings reported Q2 FY27 revenue of ₹501 Crore, up 33% YoY, with PAT of ₹98 Crore. It also approved about ₹500 Crore of additional capex.
Happy Forgings Q2 FY27 Results: Net Profit ₹97.5 Cr, Up 32.8% YoY
Happy Forgings Ltd reported revenue from operations of ₹500.7 Cr (+32.7% YoY) and net profit of ₹97.5 Cr (+32.8% YoY) for Q2 FY27.
- Key figure
- Net profit ₹97.5 Cr · +32.8% YoY
Happy Forgings Board Meeting Date
Happy Forgings Ltd intimated a board meeting on November 5, 2026 to consider unaudited standalone and consolidated results for the quarter and half year ended September 30, 2026. Trading window remains closed until 48 hours after results upload.
Happy Forgings Other Announcement
Happy Forgings Ltd has submitted its quarterly shareholding pattern for the period ended September 30, 2026, as required under SEBI regulations.
Happy Forgings Other Announcement
Designated person Rajan Bhagat reported personal share trading as per SEBI PIT regulations. This filing is a routine regulatory compliance disclosure.
Happy Forgings Employee Stock Options
Happy Forgings Ltd allotted 22,412 equity shares to employees under its ESOP scheme. Paid-up capital rises to 9,44,01,146 shares of Rs. 2 each.