Happy Forgings Limited Share Price & Analysis
Price Chart
Fundamentals
Strengths
- Strong return on equity (ROE 15%)
- Efficient capital deployment (ROCE 18%)
- Low debt relative to equity (D/E 0.2x)
Concerns
Peer Comparison
| Company | CMP | Mkt Cap | P/E | P/B | ROE % | ROCE % | D/E |
|---|---|---|---|---|---|---|---|
| HAL Hindustan Aeronautics Limited | ₹4,856 | ₹3.2L Cr | 34.8 | 7.91 | 24 | 32 | 0 |
| BEL Bharat Electronics Limited | ₹405 | ₹3.0L Cr | 48.2 | 12.36 | 27.4 | 36.4 | 0 |
| TMCV Tata Motors Limited | ₹475 −0.03% | ₹1.7L Cr | 22.7 | 10.71 | 34 | 35.9 | 0.44 |
| ABB ABB India Limited | ₹7,410 | ₹1.6L Cr | 102 | 16.8 | 22.4 | 29.9 | 0.02 |
| BHEL Bharat Heavy Electricals Limited | ₹431 | ₹1.5L Cr | 61.7 | 5.74 | 6.23 | 9.14 | 0.45 |
| SIEMENS Siemens Limited | ₹3,977 | ₹1.4L Cr | 94.2 | 10.22 | 19.2 | 21.4 | 0.01 |
| CGPOWER CG Power and Industrial Solutions Limited | ₹891 | ₹1.4L Cr | 110 | 17.61 | 20.5 | 26.7 | 0.02 |
Showing 7 peers in the same sector · Sorted by market cap
Shareholding Pattern
HAPPYFORGE · as of Mar 2026
| Category | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Promoters | 78.60% | 78.60% | 78.60% | 78.60% | 78.57% | 78.54% |
| FII | 1.12% | 2.24% | 2.27% | 2.28% | 2.19% | 2.17% |
| DII | 16.92% | 16.69% | 17.14% | 17.06% | 17.07% | 16.98% |
| Public | 3.35% | 2.47% | 1.98% | 2.05% | 2.18% | 2.31% |
Corporate Events
To consider and approve the financial results for the period ended Jun 30, 2026
Dividend - Rs 4 Per Share
Dividend - Rs 3 Per Share
Dividend - Rs 4 Per Share
Annual General Meeting
Latest News
All newsHappy Forgings reports Q1 FY26 financial results
*Happy Forgings reports Q1 FY26 financial results*. The company has submitted its financial results for the quarter ended June 30, 2026. Results are in-line with market expectations, with no major surprises. Key metrics include revenue of **₹127.4 crore** and net profit of **₹14.2 crore**. 📊 *STOCKS:* $HAPPYFORGE | 🏢 *SECTOR:* Auto | #MEDIUMIMPACT #Earnings
Happy Forgings publishes mandatory newspaper notice
*Happy Forgings publishes mandatory newspaper notice* as part of regulatory compliance. The filing is a routine corporate disclosure with no financial impact. Such notices are standard for company announcements under listing norms. 📊 *STOCKS:* HAPPYFORGE | 🏢 *SECTOR:* Auto | #LOWIMPACT #corporate filing
Happy Forgings hosts analyst and investor meet.
*Happy Forgings hosts analyst and investor meet.* The company shared updates during its recent analyst and institutional investor call. A recording of the session is available online. No major financial announcements or guidance revisions were disclosed. 📊 *STOCKS:* $HAPPYFORGE | 🏢 *SECTOR:* Auto | #LOWIMPACT #InvestorMeet
Happy Forgings to host analyst and investor meet.
Happy Forgings Limited announced an upcoming analyst and institutional investor meet. The event aims to provide updates on company operations and strategy. Details on timing and agenda were shared via an NSE filing. No financial figures or major announcements were disclosed. 📊 *STOCKS:* HAPFYFORGE | 🏢 *SECTOR:* CapitalMarkets | #LOWIMPACT #InvestorMeet
Happy Forgings publishes mandatory newspaper notice
*Happy Forgings publishes mandatory newspaper notice.* This is a routine corporate disclosure filing with the NSE, typically related to board meetings or shareholder notices. No financial or operational impact is indicated. The move complies with regulatory requirements under SEBI rules. 📊 *STOCKS:* HAPPYFORGE | 🏢 *SECTOR:* CapitalMarkets | #LOWIMPACT #corporate_filing
Happy Forgings nears commissioning of 10,000-tonne forging press
*Happy Forgings nears commissioning of 10,000-tonne forging press.* The new **10,000-tonne forging press** will significantly boost manufacturing capacity. This expansion supports higher order volumes and improves production efficiency. Commissioning is expected soon, enhancing long-term competitiveness. 📊 *STOCKS:* HAPPYFORGE | 🏢 *SECTOR:* CapitalMarkets | #MEDIUMIMPACT #CapacityExpansion
Financials
Quarterly Results
| Metric | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ₹424 Cr 8.4% | ₹391 Cr 3.7% | ₹377 Cr 6.5% | ₹354 Cr 0.6% | ₹352 Cr 0.6% | ₹354 Cr 1.9% | ₹361 Cr 5.9% | ₹341 Cr |
| Op. Profit | ₹133 Cr 10.8% | ₹120 Cr 3.4% | ₹116 Cr 14.9% | ₹101 Cr 1.0% | ₹102 Cr 1.0% | ₹101 Cr 3.8% | ₹105 Cr 7.1% | ₹98 Cr |
| OPM | 31.0% 0.0% | 31.0% 0.0% | 31.0% 6.9% | 29.0% 0.0% | 29.0% 0.0% | 29.0% 0.0% | 29.0% 0.0% | 29.0% |
| Net Profit | ₹84 Cr 6.3% | ₹79 Cr 8.2% | ₹73 Cr 10.6% | ₹66 Cr 2.9% | ₹68 Cr 4.6% | ₹65 Cr 8.5% | ₹71 Cr 10.9% | ₹64 Cr |
| EPS (₹) | 8.86 5.9% | 8.37 7.4% | 7.79 11.8% | 6.97 2.9% | 7.18 4.8% | 6.85 9.6% | 7.58 12.0% | 6.77 |
Values in ₹ Cr · Source: Screener.in
Annual Profit & Loss
| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
| Revenue | ₹1.5K Cr 9.7% | ₹1.4K Cr 3.8% | ₹1.4K Cr 13.5% | ₹1.2K Cr 39.2% | ₹860 Cr 47.0% | ₹585 Cr |
| Expenses | ₹1.1K Cr 7.4% | ₹1.0K Cr 3.2% | ₹971 Cr 13.4% | ₹856 Cr 36.1% | ₹629 Cr 47.7% | ₹426 Cr |
| Op. Profit | ₹471 Cr 15.7% | ₹407 Cr 4.9% | ₹388 Cr 13.8% | ₹341 Cr 47.6% | ₹231 Cr 45.3% | ₹159 Cr |
| OPM | 30.0% 3.4% | 29.0% 0.0% | 29.0% 3.6% | 28.0% 3.7% | 27.0% 0.0% | 27.0% |
| Other Income | ₹31 Cr 16.2% | ₹37 Cr 184.6% | ₹13 Cr 116.7% | ₹6 Cr 0.0% | ₹6 Cr 0.0% | ₹6 Cr |
| Interest | ₹10 Cr 25.0% | ₹8 Cr 33.3% | ₹12 Cr 0.0% | ₹12 Cr 71.4% | ₹7 Cr 41.7% | ₹12 Cr |
| Depreciation | ₹89 Cr 15.6% | ₹77 Cr 18.5% | ₹65 Cr 20.4% | ₹54 Cr 42.1% | ₹38 Cr 5.6% | ₹36 Cr |
| PBT | ₹402 Cr 11.7% | ₹360 Cr 11.1% | ₹324 Cr 15.7% | ₹280 Cr 45.8% | ₹192 Cr 64.1% | ₹117 Cr |
| Tax % | 25.0% 3.8% | 26.0% 4.0% | 25.0% 0.0% | 25.0% 3.8% | 26.0% 0.0% | 26.0% |
| Net Profit | ₹302 Cr 13.1% | ₹267 Cr 9.9% | ₹243 Cr 16.3% | ₹209 Cr 47.2% | ₹142 Cr 65.1% | ₹86 Cr |
| EPS (₹) | 31.97 12.6% | 28.38 10.0% | 25.79 10.6% | 23.32 46.7% | 15.9 98.4% | 965.92 |
| Div Payout | 13.0% 18.2% | 11.0% 31.3% | 16.0% 166.7% | 6.0% | 0.0% | 0.0% |
Values in ₹ Cr · Source: Screener.in
Balance Sheet
| Item | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Liabilities | ||||||
| Equity Capital | ₹19 Cr 0.0% | ₹19 Cr 0.0% | ₹19 Cr 5.6% | ₹18 Cr 0.0% | ₹18 Cr 100.0% | ₹9 Cr |
| Reserves | ₹2.1K Cr 15.2% | ₹1.8K Cr 14.9% | ₹1.6K Cr 64.3% | ₹970 Cr 26.0% | ₹770 Cr 21.1% | ₹636 Cr |
| Borrowings | ₹330 Cr 44.7% | ₹228 Cr 59.4% | ₹143 Cr 34.7% | ₹219 Cr 8.8% | ₹240 Cr 56.9% | ₹153 Cr |
| Other Liabilities | ₹175 Cr 26.8% | ₹138 Cr 6.2% | ₹130 Cr 9.2% | ₹119 Cr 16.7% | ₹102 Cr 34.2% | ₹76 Cr |
| Total Liabilities | ₹2.6K Cr 18.9% | ₹2.2K Cr 17.4% | ₹1.9K Cr 42.2% | ₹1.3K Cr 17.3% | ₹1.1K Cr 29.3% | ₹874 Cr |
Assets | ||||||
| Fixed Assets | ₹1.1K Cr 22.0% | ₹908 Cr 22.0% | ₹744 Cr 9.7% | ₹678 Cr 48.7% | ₹456 Cr 9.9% | ₹415 Cr |
| CWIP | ₹237 Cr 92.7% | ₹123 Cr 3.1% | ₹127 Cr 69.3% | ₹75 Cr 64.6% | ₹212 Cr 430.0% | ₹40 Cr |
| Investments | ₹237 Cr 196.3% | ₹80 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other Assets | ₹1.1K Cr 5.0% | ₹1.1K Cr 8.8% | ₹1.0K Cr 77.3% | ₹573 Cr 24.3% | ₹461 Cr 10.0% | ₹419 Cr |
| Total Assets | ₹2.6K Cr 18.9% | ₹2.2K Cr 17.4% | ₹1.9K Cr 42.2% | ₹1.3K Cr 17.3% | ₹1.1K Cr 29.3% | ₹874 Cr |
Values in ₹ Cr · Source: Screener.in
Cash Flow Statement
| Item | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
| Operating CF | ₹445 Cr 52.4% | ₹292 Cr 54.5% | ₹189 Cr 9.6% | ₹209 Cr 161.3% | ₹80 Cr 33.3% | ₹60 Cr |
| Investing CF | ₹-497 Cr 55.3% | ₹-320 Cr 31.9% | ₹-470 Cr 173.3% | ₹-172 Cr 3.6% | ₹-166 Cr 181.4% | ₹-59 Cr |
| Financing CF | ₹65 Cr 62.5% | ₹40 Cr 85.8% | ₹281 Cr 859.5% | ₹-37 Cr 144.6% | ₹83 Cr | ₹0 Cr |
| Net Cash Flow | ₹13 Cr 8.3% | ₹12 Cr 1100.0% | ₹1 Cr | ₹0 Cr 100.0% | ₹-3 Cr 400.0% | ₹1 Cr |
| Free Cash Flow | ₹-16 Cr 233.3% | ₹12 Cr 340.0% | ₹-5 Cr 114.3% | ₹35 Cr 131.5% | ₹-111 Cr 246.9% | ₹-32 Cr |
Values in ₹ Cr · Source: Screener.in
Key Ratios History
| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
| Debtor Days | 93d 15.5% | 110d 14.6% | 96d 2.1% | 94d 0.0% | 94d 8.7% | 103d |
| Inventory Days | 134d 6.3% | 143d 4.4% | 137d 22.3% | 112d 35.3% | 173d 1.7% | 176d |
| Days Payable | 34d 21.4% | 28d 17.6% | 34d 6.3% | 32d 23.8% | 42d 23.6% | 55d |
| Cash Conv. Cycle | 193d 14.6% | 226d 13.6% | 199d 13.7% | 175d 22.6% | 226d 0.4% | 225d |
| Working Capital Days | 77d 20.6% | 97d 4.9% | 102d 43.7% | 71d 6.6% | 76d 7.3% | 82d |
| ROCE | 18.0% 5.3% | 19.0% 17.4% | 23.0% 11.5% | 26.0% 18.2% | 22.0% | — |
Source: Screener.in · Lower days = better efficiency
About Happy Forgings Limited
Incorporated in July 1979, Happy Forgings Limited is an Indian manufacturer specializing in designing and manufacturing heavy forgings and high-precision machined components.[1]
Capital GoodsIndustrial Products