Happy Forgings Management Guidance Tracker
12 forward-looking guidance items tracked across 3 quarters.
Growth
Management expects 15-18% revenue growth from new business wins, contingent on market recovery.
Q1 FY26PV segment to reach 8-10% of revenue in 2 yearsTrackedPassenger vehicle segment expected to grow from 6% to 8-10% of total revenues over next two years.
Q2 FY26PV segment to contribute 8-10% of revenue within 2 yearsTrackedPassenger vehicle segment, currently 5% of revenue, is expected to reach 8-10% within two years, supported by SUV platform ramp-up.
Capex
Capital expenditure plan of ₹300 crore for the year, with ₹120 crore already spent in Q1.
Q2 FY26₹650 crore capex program on scheduleTrackedThe strategic capex program is progressing on schedule, with first phase (₹550 crore) expected to be operational from Q3 FY27.
Q3 FY26FY27 Capex of ~₹400 crore (excluding solar)TrackedManagement expects total capex for FY27 to be close to ₹400 crore, excluding solar project; including solar it will be ~₹480 crore.
Revenue
Front axle beam business expected to generate ₹30-40 crore revenue this year, ramping to ₹50-60 crore next year.
Q2 FY26Revenue run-rate improvement from Q4 FY26ActiveManagement expects better revenue run-rate from Q4 FY26, driven by new project ramp-ups starting Q3.
Q3 FY26Incremental annual business of ₹800 crore from FY27TrackedNew and incremental peak annual business of approximately ₹800 crore expected to commence from FY27, scaling over 2-3 years, with 80-85% execution by FY28.