Happy Forgings Ltd (HAPPYFORGE)
₹1,619.90
Mkt cap
₹15,270 Cr
P/E ratio
51.10
P/B
7.17
Div yield
0.25%
ROE
15.00%
ROCE
18.00%
EPS (TTM)
₹31.70
Book value
₹226
52W range
878–1,620
Sector
Industrials
Incorporated in July 1979, Happy Forgings Limited is an Indian manufacturer specializing in designing and manufacturing heavy forgings and high-precision machined components. [1]
Health check
Constructive
ValuationExpensive
ProfitabilityStrong
GrowthHigh
TechnicalsBullish
52-week range
0.00% from high₹1,620
₹878+84.50% from low₹1,620
Current
₹1,619.90
Prev close
₹1,619.90
Day
0.00%
Price performance
1D
0.00%
1W
+0.74%
1M
+7.33%
3M
+22.55%
6M
+56.77%
1Y
+71.85%
YTD
+36.61%
Financials
FRevenue, profit & margin
P/E ratio
51.1×
HAPPYFORGE is 85% above the sector median of 27.7×
HAPPYFORGE51.1×
Sector median27.7×
| 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 | Trend | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 302 | 330 | 343 | 342 | 343 | 341 | 361 | 354 | 352 | 354 | 377 | 391 | 424 | |
| Expenses | 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% | |
| Other Income | 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% | |
| Net Profit | 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 | |
| Raw PDF |
Earnings
EResults dates & reactionsNext results
4 Aug '26
Fresh quarters land in the Financials table above, tagged NSE until screener catches up.
Avg earnings-day move −1.17% · closed higher next day 4 of last 10
| Q3FY24 | Q4FY24 | Q1FY25 | Q2FY25 | Q3FY25 | Q4FY25 | Q1FY26 | Q2FY26 | Q3FY26 | Q4FY26 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Broadcast | 10 Feb '24◦ | 29 May '24◦ | 8 Aug '24 | 8 Nov '24 | 8 Feb '25◦ | 17 May '25◦ | 9 Aug '25◦ | 6 Nov '25 | 9 Feb '26 | 21 May '26◦ |
| Earnings day | −1.29% | −0.54% | −0.79% | −0.32% | −2.86% | −3.57% | +1.33% | −1.86% | +3.10% | −4.93% |
| +1 day | −4.34% | +1.30% | −1.14% | −1.31% | −5.67% | −2.85% | +0.98% | +0.05% | +4.99% | −5.08% |
| +5 days | −3.80% | +6.41% | −3.03% | −6.71% | −8.26% | +6.25% | −2.32% | +1.81% | +16.99% | −1.52% |
| +15 days | −4.29% | +10.16% | −4.46% | −3.21% | −18.73% | +14.59% | −5.77% | +2.57% | +18.18% | −6.62% |
| +30 days | −11.84% | +11.70% | −1.91% | −12.78% | −18.20% | +13.21% | +1.49% | +5.21% | +9.83% | +3.15% |
| Filing | XBRL | XBRL | XBRL | XBRL | XBRL | XBRL | XBRL | XBRL | XBRL |
Corporate actions
CLast 6 months| Kind | Value | Ex-date | Record |
|---|---|---|---|
| dividend Dividend - Rs 4 Per Share | 4.00 | 20 Jul '26 | 20 Jul '26 |
Shareholding
Sas of Jun 202678.46%Promoter
Promoters78.46%0.02
FIIs1.88%0.15
DIIs15.54%0.94
Public4.12%0.82
Ownership trend
Peers
P7 companiesValuation vs quality
P/E × ROCE · bubble = market cap| Name | CMP | P/E | Mkt Cap | Div Yld | NP Qtr | Qtr Profit Var | Sales Qtr | Qtr Sales Var | ROCE |
|---|---|---|---|---|---|---|---|---|---|
| AIA Engineering | ₹4,828.50 | 35.42 | 45,082 | 0.33% | 393 | +37.88% | 1,266 | +9.44% | 21.09% |
| PTC Industries | ₹17,591.00 | 260.07 | 26,413 | 0.00% | 60 | +140.02% | 225 | +84.93% | 8.43% |
| Happy Forgings | ₹1,617.40 | 51.07 | 15,270 | 0.25% | 84 | +23.55% | 424 | +20.42% | 18.03% |
| Balu Forge | ₹450.80 | 21.13 | 5,471 | 0.03% | 66 | +4.87% | 264 | −2.26% | 22.72% |
| Steelcast | ₹306.85 | 35.95 | 3,105 | 0.56% | 23 | −13.41% | 112 | −6.38% | 32.30% |
| Amic Forging | ₹1,767.90 | 72.22 | 2,042 | 0.00% | 16 | +23.69% | 75 | +30.44% | 23.46% |
| Nelcast | ₹132.02 | 23.70 | 1,149 | 0.53% | 15 | +12.78% | 368 | +11.65% | 11.43% |
| Median: 21 Co. | ₹439.40 | 27.65 | 568 | 0.06% | 4 | +12.78% | 54 | +11.65% | 15.52% |
Filings
DConcall transcripts27
TranscriptMay 2026PPTMay 2026RECMay 2026TranscriptFeb 2026PPTFeb 2026RECFeb 2026TranscriptNov 2025PPTNov 2025RECNov 2025TranscriptAug 2025PPTAug 2025TranscriptMay 2025PPTMay 2025RECMay 2025TranscriptFeb 2025PPTFeb 2025TranscriptNov 2024PPTNov 2024PPTSep 2024TranscriptAug 2024PPTAug 2024TranscriptJun 2024PPTJun 2024PPTMay 2024
Credit ratings6
Announcements5
Announcement under Regulation 30 (LODR)-Credit Rating 7 Jul - ICRA reaffirmed Happy Forgings' AA/A1+ ratings for Rs. 485 crore bank facilities.Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 7 JulAnnouncement under Regulation 30 (LODR)-Newspaper Publication 3 JulPursuant To Regulation 36(1)(B) Of SEBI LODR Regulations 2015, Letter To Shareholders Who Have Not Registered Their Email ID 2 Jul - Happy Forgings schedules 47th AGM on 27 July 2026 and shares annual report link.Business Responsibility and Sustainability Reporting (BRSR) 30 Jun - Happy Forgings submitted its BRSR for FY 2025-26 on June 30, 2026.