Happy Forgings Limited share price
NSE: HAPPYFORGE · ISIN INE330T01021
Key numbers
- Market cap
- ₹ 19,480 Cr
- Current price
- ₹ 2,063.50
- 52-week high / low
- ₹ 2,470 / 889
- Stock P/E
- 59.5
- Book value
- ₹ 225.6
- Dividend yield
- 0.19%
- ROCE
- 18.2%
- ROE
- 15.2%
- Debt to equity
- 0.15
- Sales growth (3 yrs)
- 9.8%
- Profit growth (3 yrs)
- 13.1%
- 1-year return
- 112.5%
About Happy Forgings Limited
Happy Forgings Limited manufactures and sells forgings and machined components for the automotive and industrial sectors in India and internationally. The company offers crankshafts; differential cases; front axle beams and steering knuckles; railway parts, including camshafts, connecting rods, piston pins, spacers, and others; brake flanges and suspension brackets; and transmission parts, such as shafts and spindles, crown wheels and pinions, and rings. It also offers windmill application products, including planet carrier, pinion shaft, and housing; oil and gas components, such as valve body; and bicycle pedals. It serves the original equipment manufacturers, manufacturers of commercial and passenger vehicles, farm equipment, and off highway and industrial equipment, as well as machinery for oil and gas, aerospace, power generation, railways, and wind turbine industries. Happy Forgings Limited was incorporated in 1979 and is based in Ludhiana, India.
Quarterly results
Consolidated figures in ₹ crores
| Mar 2025 | Jun 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|
| Sales | 352 | 354 | 391 | 424 | 449 |
| Operating profit | 102 | 101 | 120 | 133 | 141 |
| Net profit | 68 | 66 | 79 | 84 | 91 |
| EPS (₹) | 7.18 | 6.97 | 8.37 | 8.86 | 9.70 |
Concall summary (2026-08-11)
AI summary of the earnings call transcript · tone: Positive · source document
Guidance & outlook
- Farm equipment was our second largest revenue contributor during Q1 FY27 accounted for 32% of our total revenue.
- Machining contribution increased to 90% in Q1 FY27 compared with 88% in Q1 FY 26.
Growth & demand
- We delivered growth in mid -20s during the quarter, with the domestic business registering over 20% growth, supported by favo urable demand in the domestic farm equipment market.
- The segment delivered growth of more than 70% with dom estic business growing by over 4 0%, supported by healthy market demand and increased wallet share.
Margins & costs
- EBITDA for the quarter stood at Rs.141 crores, and EBITDA margin expanded by 275 basis points year-on-year to 31.3%.
- This marks the 4th consecutive quarter in which we have delivered an EBITDA margin in excess of 30%.
Capex & expansion
- We also added capacity during the quarter by commissioning another 4,000-ton forging press line, adding 4,000 tons of forging capacity.
- The capacity utilization stood at 59% for forging and 78% for machining.
Balance sheet & cash
- Expanding by approx 275 basis points, supported by operational leverage and our continuous focus on operational efficiencies.
- And lastly, I just want to know any change we are facing in the working capital cycle.
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