Happy Forgings Limited

rs,

August 09, 2025 To BSE Ltd, Corporate Relationship Department, Phiroze Jeejebhoy Towers, Dalal Street, Mumbai - 400 001 National Stock Exchange of India Ltd. Listing Department, Exchang

4%

price environment, we delivered a resilient performance in Q1 FY26. Finished goods volume grew by ~4% year-on-year, and revenue from operations recorded a similar growth, supported by stable realisati

₹245

n-year, and revenue from operations recorded a similar growth, supported by stable realisations of ₹245/kg despite lower input steel prices. Domestic demand remained healthy, particularly in the Passeng

7%

healthy, particularly in the Passenger Vehicles, Farm Equipment, and Industrial segments, driving ~7% year-on-year growth in our domestic business. In contrast, exports were impacted by sluggish deman

6%

on both growth and margins, we have managed to maintain strong profitability. Gross Profit grew by 6% yoy outpacing revenue growth and led to an improvement in Gross margin by ~140 basis points year-o

140 basis point

Gross Profit grew by 6% yoy outpacing revenue growth and led to an improvement in Gross margin by ~140 basis points year-on-year to 57.9%, while EBITDA margin remained robust at 28.6%, comparable to FY25 levels. O

57.9%

cing revenue growth and led to an improvement in Gross margin by ~140 basis points year-on-year to 57.9%, while EBITDA margin remained robust at 28.6%, comparable to FY25 levels. Our balance sheet remain

28.6%

in Gross margin by ~140 basis points year-on-year to 57.9%, while EBITDA margin remained robust at 28.6%, comparable to FY25 levels. Our balance sheet remains strong, with liquidity of over Rs. 350 Crs a

Rs. 350

bust at 28.6%, comparable to FY25 levels. Our balance sheet remains strong, with liquidity of over Rs. 350 Crs at quarter-end, positioning us well to navigate volatility and invest in future growth. Our cap

3.8%

FY26 PERFORMANCE HIGHLIGHTS Finished Goods Volume (MT) Realisation/Kg (Rs.) Revenue (Rs. Crs) +3.8% -0.1% 14,457 245 245 +3.6% 354 341 13,933 Q1FY25 Q1FY26 Q1FY25 Q1FY26 Q1FY25 Q1FY26

0.1%

ERFORMANCE HIGHLIGHTS Finished Goods Volume (MT) Realisation/Kg (Rs.) Revenue (Rs. Crs) +3.8% -0.1% 14,457 245 245 +3.6% 354 341 13,933 Q1FY25 Q1FY26 Q1FY25 Q1FY26 Q1FY25 Q1FY26 Gross P

3.6%

nished Goods Volume (MT) Realisation/Kg (Rs.) Revenue (Rs. Crs) +3.8% -0.1% 14,457 245 245 +3.6% 354 341 13,933 Q1FY25 Q1FY26 Q1FY25 Q1FY26 Q1FY25 Q1FY26 Gross Profit (Rs. Crs) EBITDA (

“INVESTOR PRESENTATION Q1 FY26 SAFE HARBOR This presentation and the accompanying slides (the “Presentation”), prepared by Happy Forgings Limited (the “Company”), are intended solely for information purposes and does not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever.”

“No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.”

“2 Q1 FY26 Performance Highlights 3 MESSAGE FROM THE MANAGING DIRECTOR “Despite persistent headwinds in several end-user industries and a deflationary steel price environment, we delivered a resilient performance in Q1 FY26.”

“So far, we have not seen any adverse developments in our prospective business pipeline and, in fact, anticipate securing some new orders from the European region.”

“Gross Profit grew by 6% yoy outpacing revenue growth and led to an improvement in Gross margin by ~140 basis points year-on-year to 57.9%, while EBITDA margin remained robust at 28.6%, comparable to FY25 levels.”

“Ashish Garg Managing Director Q1 FY26 PERFORMANCE HIGHLIGHTS Finished Goods Volume (MT) Realisation/Kg (Rs.) Revenue (Rs.”

“Other Income Finance Cost Profit Before Tax Q1FY26 Q1FY25 354 149 205 341 149 193 57.9% 56.5% 32 72 101 29 66 98 28.6% 28.6% 21 81 10 91 2 89 18 80 8 87 1 86 Profit Before Tax Margin 25.1% 25.1% Tax PAT PAT Margin % EPS (Diluted) 23 66 18.6% 6.96 22 64 18.7% 6.76 YoY 3.6% 6.3% 3.6% 1.3% 4.3% 3.3% 3.0% FY25* 1,409 592 817 58.0% 125 286 407 28.9% 77 330 37 367 8 360 25.5% 92 267 19.0% 28.37 * Other income for the period FY25 includes a non-recurring income of Rs.”

“8 BUILDING CAPABILITIES FOR RESILIENT AND SUSTAINABLE GROWTH Installed Capacity and Utilisation Capacity Updates 57% 127,000 59% 127,000 83% 77% ▪ New Forging capacities to be added during the year: 10,000 Ton press and 4,000 Ton press 57,000 58,200 FY25 Q1FY26 FY25 Q1FY26 Forging Capacity (MT) Utilisation (%) Machining Capacity (MT) Utilisation (%) ▪ Rs.”

“~80 Crs capex planned in FY26 to scale Passenger Vehicle segment ▪ Rs.”

“1,409 Crs FY25 Revenue 28.9% FY25 EBITDA Margin AA/STABLE CRISIL and ICRA Credit Rating OUR VISION To be amongst the top 10 forging and machining companies globally OUR MISSION ▪ State-of-the-art Technology ▪ Deliver more than promised ▪ Respect and encourage people ▪ Inspire innovation and creativity ▪ Care for the environment and society * Installed capacity as on June 30, 2025 12 BUSINESS EVOLUTION SPANNING 4 DECADES Rs.”

Regd Office

1

Regd Office

INVESTOR PRESENTATION Q1 FY26 SAFE HARBOR This presentation and the accompanying slides (the “Presentation”), prepared by Happy Forgings Limited (the “Company”), are intended solely for information purposes and does not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company. This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the info