Happy Forgings reported a consolidated net profit of Rs 97.50 crore for Q2 FY27, marking a 32.8 percent increase compared to Rs 73.44 crore in the corresponding period of the previous financial year.
On a sequential basis, consolidated net profit rose 6.6 percent from Rs 91.46 crore recorded in Q1 FY27. The earnings growth was supported by higher business volumes across domestic and international markets, accompanied by matching increases in operational expenses to sustain production scaling.
Consolidated revenue from operations rose 32.7 percent year-on-year to Rs 500.75 crore from Rs 377.39 crore in Q2 FY25, and expanded 11.4 percent sequentially against Rs 449.42 crore in Q1 FY27. Total consolidated income, inclusive of other income, stood at Rs 509.05 crore.
Total consolidated expenses increased 32.8 percent year-on-year to Rs 378.45 crore compared to Rs 285.05 crore in the year-ago quarter, and grew 12 percent sequentially from Rs 337.87 crore.
On a standalone basis, the company posted a net profit of Rs 97.51 crore for Q2 FY27, up 32.8 percent year-on-year from Rs 73.44 crore, and higher by 6.6 percent sequentially compared to Rs 91.46 crore.
Standalone revenue from operations grew 32.7 percent year-on-year to Rs 500.75 crore from Rs 377.39 crore, while climbing 11.42 percent sequentially from Rs 449.42 crore. Standalone total expenses increased 32.8 percent year-on-year to Rs 378.44 crore compared to Rs 285.03 crore, and advanced 12 percent sequentially from Rs 337.87 crore.
In conjunction with the financial results, the board of directors approved a capital expenditure of approximately Rs 500 crore to expand existing forging and machining capacities. The capacity additions, comprising roughly 24,000 metric tonnes per annum for forging and 14,000 metric tonnes per annum for machining, will be implemented in a phased manner during FY28 and FY29.