Happy Forgings Ltd
NSE:HAPPYFORGE
Happy Forgings Ltd
In the bustling industrial town of Ludhiana, India, Happy Forgings Ltd. emerges as a key player in the world of crafting precision-engineered forged components. Since its inception, the company has honed the art of transforming raw materials into intricate parts used in various applications, from automotive to industrial machinery. By employing advanced forging techniques, Happy Forgings adds value to steel and other metals, leveraging heat and pressure to shape them into components that meet the rigorous standards of its clients. This blend of tradition and cutting-edge technology allows the company to maintain a strong foothold in a competitive market, where quality and precision are paramount.
The lifeblood of Happy Forgings’ business model flows through its diverse product portfolio, catering to both domestic and international markets. With a keen focus on innovation and efficiency, the company has ingrained quality control and process optimization into its operations, ensuring that each component it produces is synonymous with reliability. This commitment to quality not only reinforces longstanding relationships with its clientele but also opens doors to new market opportunities across the globe. As a result, Happy Forgings generates revenue through the strategic sale of these highly engineered components, which are essential to various high-stakes industries, supporting its growth trajectory and solidifying its reputation as a trusted supplier in the global forging landscape.
In the bustling industrial town of Ludhiana, India, Happy Forgings Ltd. emerges as a key player in the world of crafting precision-engineered forged components. Since its inception, the company has honed the art of transforming raw materials into intricate parts used in various applications, from automotive to industrial machinery. By employing advanced forging techniques, Happy Forgings adds value to steel and other metals, leveraging heat and pressure to shape them into components that meet the rigorous standards of its clients. This blend of tradition and cutting-edge technology allows the company to maintain a strong foothold in a competitive market, where quality and precision are paramount.
The lifeblood of Happy Forgings’ business model flows through its diverse product portfolio, catering to both domestic and international markets. With a keen focus on innovation and efficiency, the company has ingrained quality control and process optimization into its operations, ensuring that each component it produces is synonymous with reliability. This commitment to quality not only reinforces longstanding relationships with its clientele but also opens doors to new market opportunities across the globe. As a result, Happy Forgings generates revenue through the strategic sale of these highly engineered components, which are essential to various high-stakes industries, supporting its growth trajectory and solidifying its reputation as a trusted supplier in the global forging landscape.
Record Results: Happy Forgings reported all-time high revenue, gross profit, EBITDA, and PAT in Q3 FY26, with the highest ever EBITDA and PAT margins.
Profit Outpaces Sales: PAT grew 22.3% year-on-year, outpacing revenue growth, driven by better product mix and operational efficiency.
Strong Margins: EBITDA margin hit a new high of 30.8% for the quarter and 30.1% for 9 months, with a target range of 29%–31% in the medium term.
Robust Balance Sheet: Cash flow from operations reached INR 315 crores for 9 months; total liquid assets now exceed INR 400 crores.
CapEx & Capacity Expansion: INR 300 crores invested in 9 months; FY26 CapEx guidance is INR 400–500 crores. Major capacity additions are underway, with further ramp-up planned in FY27 and FY28.
Export Outlook: Export business showed early stabilization; new orders expected to drive export share higher from FY27, despite recent global headwinds.
Order Book Visibility: New and incremental business of INR 800 crores expected to commence from FY27, mainly in industrial and export markets.
