Happy Forgings Ltd (NSE:HAPPYFORGE)

Q3 2026 Happy Forgings Ltd Earnings Call Transcript

Feb 9, 2026 / 04:30 AM GMT

Release Date Price: ₹1150 (+1.84%)

Transcript

Key Points

Positve

Happy Forgings Ltd (NSE:HAPPYFORGE) reported an all-time high performance in revenue, gross profit, EBITDA, and profit after tax for Q3 FY26.
The company achieved a significant year-on-year profit growth of 22.3% for Q3, driven by robust value addition and operational efficiencies.
EBITDA margins reached a new high of 30.8% for the quarter, showcasing strong operational leverage.
The company has successfully navigated challenges such as softening steel prices and a challenging macro environment while maintaining growth momentum.
Happy Forgings Ltd has invested in capacity expansion, including a new 10,000-ton press, to support future growth without straining the balance sheet.

Negative

Direct exports remained subdued due to ongoing weakness in certain end markets and tariff-related trade uncertainties.
The off-highway segment experienced a year-on-year decline due to slower project awards and land acquisition delays.
The broader global backdrop remains soft, with major markets in North America and Europe yet to show meaningful recovery.
Changes in inco terms for select customers led to a reclassification of certain revenues, impacting the apparent decline in direct export share.
The company faces challenges from fluctuating raw material prices and currency movements, which can impact profitability.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

HAPY.NS - Happy Forgings Ltd
Q3 2026 Happy Forgings Ltd Earnings Call
Feb 10, 2026 / 04:30AM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, good day and welcome to the Q3 and 9 month FY26 earnings conference call of Happy Forgings Limited. This conference call may contain forward-looking statements about the company which are based on the beliefs, opinion, and expectations of the company as of the date of this call. The statements are not the guarantees of future performance, uninvolved risk and uncertainties that are difficult to predict. As a reminder, all participant lines will be in the lesson mode, and there will be an opportunity for you to ask questions after the presentation concludes.

Should you need assistance during this conference call, please signal an operator by pressing, then 0 on your touchstone phone. Please note that this

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