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
- ✗Trading near 52-week high (₹1,638)
Peer Comparison
| Company | CMP | Mkt Cap | P/E | P/B | ROE % | ROCE % | D/E |
|---|---|---|---|---|---|---|---|
| HAL Hindustan Aeronautics Limited | ₹4,568 | ₹3.0L Cr | 33 | 7.44 | 24 | 32 | 0 |
| BEL Bharat Electronics Limited | ₹407 | ₹3.0L Cr | 49.4 | 12.41 | 27.6 | 36.5 | 0 |
| ABB ABB India Limited | ₹7,530 | ₹1.6L Cr | 104 | 20.35 | 22.4 | 29.9 | 0.01 |
| TMCV Tata Motors Limited | ₹412 +0.59% | ₹1.5L Cr | 38.6 | 10.71 | 34 | 35.9 | 0.44 |
| CUMMINSIND Cummins India Limited | ₹5,590 | ₹1.5L Cr | 62.3 | 18.27 | 30.2 | 39.5 | 0 |
| BHEL Bharat Heavy Electricals Limited | ₹417 | ₹1.5L Cr | 60.4 | 5.55 | 6.23 | 9.14 | 0.45 |
| CGPOWER CG Power and Industrial Solutions Limited | ₹912 | ₹1.4L Cr | 118 | 18.02 | 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 news →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 Goods · Industrial Products