Happy Forgings Limited has scheduled its 47th Annual General Meeting (AGM) for Monday, 27th July, 2026, at 11:30 AM (IST) through Video Conferencing (VC) / Other Audio-Visual Means (OAVM). The Board of Directors has recommended a final dividend of ₹4 per equity share of face value ₹2 each for the financial year ended 31st March, 2026, subject to shareholder approval. The register of members will remain closed from 21st July, 2026 to 27th July, 2026 (both days inclusive) to determine shareholder eligibility for dividend and AGM purposes.

AGM Agenda

The meeting will transact both ordinary and special business. Under ordinary business, shareholders will vote on the adoption of audited standalone and consolidated financial statements for FY 2025-26, declaration of the final dividend, and the re-appointment of Mr. Ashish Garg (DIN: 01829082), Managing Director, who retires by rotation. Special business includes the ratification of remuneration payable to Cost Auditors M/s. Rajan Sabharwal & Associates, approval of commission payable to Independent Directors, re-appointment of Ms. Megha Garg as Whole-Time Director, and re-appointment of Mr. Ravindra Pisharody as Independent Director for a second term.

Director Re-appointments

The Board has proposed the re-appointment of Ms. Megha Garg (DIN: 07352042) as Whole-Time Director for a term of five years from 29th September, 2026 to 28th September, 2031. Her remuneration includes a salary of ₹10,00,000 per month, with the potential for increments up to a maximum of ₹15,00,000 per month, along with perquisites and allowances as determined by the Board. Additionally, the company seeks shareholder approval to re-appoint Mr. Ravindra Pisharody (DIN: 01875848) as an Independent Director for a second term from 16th June, 2027 to 15th November, 2030.

Independent Director Commission

Shareholders are asked to approve commission payments for Independent Directors for FY 2025-26, capped at 1% of net profits computed under Section 198 of the Companies Act, 2013. The proposed commissions are ₹16 Lakhs each for Mr. Ravindra Pisharody, Ms. Rajeswari Karthigeyan, and Mr. Atul B Lall. This remuneration is in addition to sitting fees payable for attending Board or Committee meetings.

Cost Auditor Ratification

The Board, on 21st May, 2026, approved the appointment of M/s. Rajan Sabharwal and Associates, Ludhiana (Firm Registration No. 101961), as Cost Auditors for the financial year 2026-27. Shareholders will ratify the remuneration payable to them, not exceeding ₹1,50,000 plus applicable taxes and out-of-pocket expenses. The AGM notice and annual report are available on the company's website at www.happyforgingsltd.com and on the websites of BSE Limited and National Stock Exchange of India Limited. Remote e-voting facilities have been arranged through MUFG Intime India Private Limited (formerly Link Intime India Private Limited) via the InstaVote platform.

Newspaper Publication

Pursuant to Regulation 30 & 47 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, the company intimated the exchanges regarding the publication of the AGM notice in newspapers. The advertisement was published on July 03, 2026, in the Financial Express (English) and Jagbani (Punjabi).

Happy Forgings Ltd filed its Business Responsibility and Sustainability Report for the Financial Year 2025-26 with the stock exchanges on June 30, 2026. The report outlines the company's performance against the National Guidelines on Responsible Business Conduct (NGRBC) principles, highlighting significant progress in environmental efficiency and governance structures. The company reported a ~7% year-on-year reduction in Scope 1 and Scope 2 GHG emissions during the year, alongside achieving 100% Zero Liquid Discharge (ZLD) across all its manufacturing sites. To support its energy transition, the company commenced the installation of a 20 MW captive solar power plant. These initiatives align with its long-term targets to reduce GHG emissions by 50% by 2030 and install 20 MW of solar capacity by 2028.

Operational and Financial Metrics

Happy Forgings recorded a total energy consumption of 5,83,432 GJ in FY 2025-26, with energy intensity per rupee of turnover improving to 3.8 GJ/Lakh Rupees from 4.0 GJ/Lakh Rupees in the previous year. Water consumption stood at 2,64,918 kiloliters, with water intensity per rupee of turnover decreasing to 1.71 KL/Lakh Rupees. The company’s total Scope 1 and Scope 2 emissions were 98,266 metric tonnes of CO2 equivalent, with an emission intensity of 1.58 tCO2e/MT.

Workforce and Safety

The company employed a total workforce of 3,934 individuals, comprising 714 employees and 3,220 workers, as of the end of FY 2025-26. The workforce was predominantly male, with females constituting 3.6% of employees and 0.0% of workers. The Lost Time Injury Frequency Rate (LTIFR) for workers was recorded at 0.6 per million person hours worked, with zero fatalities reported during the year. The company provided health and accident insurance coverage to 100% of its permanent employees and workers.

Governance and Compliance

Happy Forgings has established an ESG Council to oversee sustainability initiatives, with Ms. Megha Garg, Whole Time Director, serving as the highest authority responsible for implementation. The company confirmed that it has not been subject to any fines, penalties, or settlements by regulatory or law enforcement agencies during the financial year. It maintains a robust anti-corruption policy and reported zero disciplinary actions related to bribery. The report was submitted by Bindu Garg, Company Secretary & Compliance Officer.