ConCallIQ
Go Pro
Home › Happy Forgings › Margin Trend

Happy Forgings Margin Trend — Quarter by Quarter

Happy Forgings's EBITDA margin moved from 28.6% in Q1 FY26 to 30.8% in Q3 FY26 across 3 quarters. Management commentary below explains the cost and pricing drivers mentioned on calls.

EBITDA Margin by Quarter

QuarterEBITDA Margin (%)YoY Change
Q3 FY2630.8%—
Q2 FY2630.7%+150 bps
Q1 FY2628.6%—

What management said about ebitda margin

G

Q3 FY26 · EBITDA margin range of 29-31% medium-term

Management expects EBITDA margins to remain in a sustained range of 29-31% over the medium term, with potential improvement from export mix and solar project.

G

Q3 FY26 · Solar project to reduce power cost by ₹25-30 crore annually

Captive solar plant (80 acres) expected to be operational from Q3 FY28, reducing power cost by ₹25-30 crore per annum on full utilization.