Happy Forgings Ltd

Happy Forgings Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Happy Forgings Ltd

₹ 1,014 1.94%
07 Nov - close price
happyforgingsltd.com BSE: 544057 NSE: HAPPYFORGE
About

Incorporated in July 1979, Happy Forgings Limited is an Indian manufacturer specializing in designing and manufacturing heavy forgings and high-precision machined components.[1]

Key Points

Leading Forging Company[1]
HFL is the 4th largest manufacturer of complex and safety-critical, heavy-forged, and precision-machined components in India by forging capacity

Website BSE NSE
  • Market Cap ₹ 9,560 Cr.
  • Current Price ₹ 1,014
  • High / Low ₹ 1,185 / 716
  • Stock P/E 35.2
  • Book Value ₹ 208
  • Dividend Yield 0.30 %
  • ROCE 19.2 %
  • ROE 15.5 %
  • Face Value ₹ 2.00
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Pros

Cons

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Industrials Capital Goods Industrial Products Castings & Forgings

Part of BSE SmallCap BSE Allcap BSE Industrials Nifty500 LargeMidSmall Equal-Cap Weighted

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025
302 330 343 342 343 341 361 354 352 354 377
217 230 249 247 246 244 256 253 250 253 262
Operating Profit 86 100 94 95 97 98 105 101 102 101 116
OPM % 28% 30% 27% 28% 28% 29% 29% 29% 29% 29% 31%
2 3 1 3 7 8 13 7 10 10 6
Interest 5 3 4 4 1 1 2 2 2 2 2
Depreciation 14 15 16 17 16 18 20 19 20 21 22
Profit before tax 68 85 74 78 87 86 97 87 90 89 99
Tax % 25% 25% 25% 25% 25% 26% 27% 26% 24% 26% 26%
51 64 55 58 66 64 71 65 68 66 73
EPS in Rs 5.66 7.16 6.17 6.15 6.98 6.77 7.58 6.85 7.18 6.97 7.79
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
585 860 1,197 1,358 1,409 1,437
426 629 856 971 1,002 1,017
Operating Profit 159 231 341 388 407 421
OPM % 27% 27% 28% 29% 29% 29%
6 6 6 13 37 33
Interest 12 7 12 12 8 9
Depreciation 36 38 54 65 77 81
Profit before tax 117 192 280 324 360 364
Tax % 26% 26% 25% 25% 26%
86 142 209 243 267 271
EPS in Rs 965.92 15.90 23.32 25.79 28.38 28.79
Dividend Payout % 0% 0% 6% 16% 11%
Compounded Sales Growth
10 Years: %
5 Years: %
3 Years: 18%
TTM: 4%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: 23%
TTM: 5%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: -11%
Return on Equity
10 Years: %
5 Years: %
3 Years: 18%
Last Year: 15%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Sep 2025
Equity Capital 9 18 18 19 19 19
Reserves 636 770 970 1,594 1,831 1,940
153 240 219 143 228 193
76 102 119 130 138 149
Total Liabilities 874 1,130 1,326 1,886 2,215 2,301
415 456 678 744 908 952
CWIP 40 212 75 127 123 226
Investments 0 0 0 0 80 85
419 461 573 1,016 1,105 1,038
Total Assets 874 1,130 1,326 1,886 2,215 2,301

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
60 80 209 189 292
-59 -166 -172 -470 -320
-0 83 -37 281 40
Net Cash Flow 1 -3 -0 1 12

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 103 94 94 96 110
Inventory Days 176 173 112 137 143
Days Payable 55 42 32 34 28
Cash Conversion Cycle 225 226 175 199 226
Working Capital Days 82 76 71 102 97
ROCE % 22% 26% 23% 19%

Shareholding Pattern

Numbers in percentages

3 Recently
Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
78.60% 78.60% 78.60% 78.60% 78.60% 78.57% 78.54% 78.52%
2.06% 1.12% 2.24% 2.27% 2.28% 2.19% 2.17% 2.03%
5.83% 16.92% 16.69% 17.14% 17.06% 17.07% 16.98% 17.02%
13.50% 3.35% 2.47% 1.98% 2.05% 2.18% 2.31% 2.45%
No. of Shareholders 1,34,83993,58774,09065,37664,98264,67063,79061,075

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

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DRHP

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