Happy Forgings Ltd

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

Happy Forgings Ltd

₹ 1,417 2.36%
27 May - 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 ₹ 13,369 Cr.
  • Current Price ₹ 1,417
  • High / Low ₹ 1,490 / 862
  • Stock P/E 44.3
  • Book Value ₹ 226
  • Dividend Yield 0.21 %
  • ROCE 18.2 %
  • ROE 15.2 %
  • Face Value ₹ 2.00
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Pros

Cons

  • Dividend payout has been low at 12.9% of profits over last 3 years

* 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 Industrials BSE 1000

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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 Dec 2025 Mar 2026
302 330 343 342 343 341 361 354 352 354 377 391 424
217 230 249 247 246 244 256 253 250 253 262 271 291
Operating Profit 86 100 94 95 97 98 105 101 102 101 116 120 133
OPM % 28% 30% 27% 28% 28% 29% 29% 29% 29% 29% 31% 31% 31%
2 3 1 3 7 8 13 7 10 10 6 8 6
Interest 5 3 4 4 1 1 2 2 2 2 2 2 4
Depreciation 14 15 16 17 16 18 20 19 20 21 22 22 25
Profit before tax 68 85 74 78 87 86 97 87 90 89 99 104 111
Tax % 25% 25% 25% 25% 25% 26% 27% 26% 24% 26% 26% 24% 25%
51 64 55 58 66 64 71 65 68 66 73 79 84
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 8.37 8.86
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
585 860 1,197 1,358 1,409 1,546
426 629 856 971 1,002 1,076
Operating Profit 159 231 341 388 407 471
OPM % 27% 27% 28% 29% 29% 30%
6 6 6 13 37 31
Interest 12 7 12 12 8 10
Depreciation 36 38 54 65 77 89
Profit before tax 117 192 280 324 360 402
Tax % 26% 26% 25% 25% 26% 25%
86 142 209 243 267 302
EPS in Rs 965.92 15.90 23.32 25.79 28.38 31.97
Dividend Payout % 0% 0% 6% 16% 11% 13%
Compounded Sales Growth
10 Years: %
5 Years: 21%
3 Years: 9%
TTM: 10%
Compounded Profit Growth
10 Years: %
5 Years: 28%
3 Years: 13%
TTM: 13%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: 56%
Return on Equity
10 Years: %
5 Years: 18%
3 Years: 16%
Last Year: 15%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 9 18 18 19 19 19
Reserves 636 770 970 1,594 1,831 2,109
153 240 219 143 228 330
76 102 119 130 138 175
Total Liabilities 874 1,130 1,326 1,886 2,215 2,633
415 456 678 744 908 1,116
CWIP 40 212 75 127 123 229
Investments 0 0 0 0 80 237
419 461 573 1,016 1,105 1,050
Total Assets 874 1,130 1,326 1,886 2,215 2,633

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
60 80 209 189 292 445
-59 -166 -172 -470 -320 -497
-0 83 -37 281 40 65
Net Cash Flow 1 -3 -0 1 12 13
Free Cash Flow -32 -111 35 -5 12 -16
CFO/OP 59% 53% 80% 71% 92% 114%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 103 94 94 96 110 93
Inventory Days 176 173 112 137 143 134
Days Payable 55 42 32 34 28 34
Cash Conversion Cycle 225 226 175 199 226 193
Working Capital Days 82 76 71 102 97 133
ROCE % 22% 26% 23% 19% 18%

Insights

In beta
Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Finished Goods Sales Volume
Metric Tonnes (MT)

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Forging Capacity Utilization
%
Forging Installed Capacity
Metric Tonnes (MT)
Machining Capacity Utilization
%
Machining Installed Capacity
Metric Tonnes (MT)
Number of Customers served
Count ・Standalone data
Realisation per Kg
INR/Kg
New Orders Received
INR Crores ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

7 Recently
Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
78.60% 78.60% 78.60% 78.60% 78.60% 78.57% 78.54% 78.52% 78.50% 78.48%
2.06% 1.12% 2.24% 2.27% 2.28% 2.19% 2.17% 2.03% 1.84% 1.73%
5.83% 16.92% 16.69% 17.14% 17.06% 17.07% 16.98% 17.02% 16.73% 16.48%
13.50% 3.35% 2.47% 1.98% 2.05% 2.18% 2.31% 2.45% 2.94% 3.30%
No. of Shareholders 1,34,83993,58774,09065,37664,98264,67063,79061,07561,48457,815

* 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.

Click on the line-items to see the names of individual entities.

Documents

Announcements

Annual reports

DRHP

Credit ratings

Concalls