HAPPYFORGE

Happy Forgings Ltd.

NSE: HAPPYFORGE

BSE: 544057

Sector: Capital Goods

Industry Group: Industrial Products

Industry: Castings & Forgings

1,499.10-43.1 (-2.79%)

3 Jul, 3:30 PM

Overview

Analysis Statements Technicals Forecast Peers Resources News

Stock Scores

Quality Score

96.0 / 100

Value Score

19.0 / 100

Price Momentum Score

95.8 / 100

QVM Score

88.8 / 100

Key Metrics

Market Cap

14506.10

P/E (TTM)

48.09

P/B

6.82

P/S (TTM)

9.38

EV/EBITDA

30.61

CAPE (5Y)

61.83

ROE (TTM)

15.17

ROCE (TTM)

16.83

ROA (TTM)

12.44

Avg 3Y ROE

16.43

Earnings 3Y CAGR

12.95

Sales 3Y CAGR

8.92

Sales 5Y CAGR

Debt/Equity

0.15

Consensus TP

1581.00

Strong Buy %

50.00

Promoter Holding

78.48

Pledged %

0.00

Stock Analysis

Fundamental analysis overview of Happy Forgings Ltd. covering key investment insights, growth drivers, risk factors, and potential red flags.

Views

Red Flags

Positive

Strong price momentum

Price Momentum score of 95.8 indicates that the stock has strong price momentum. Research has shown that stocks with higher momentum continue to outperform in the near term

What is Price Momentum score?

95.8 / 100

Analysts have been raising forward EPS estimates

Analyst EPS estimate (consensus) for forward EPS has increased by 3.14% in the last 3 months, indicating earnings momentum

What is Earnings upgrade (3M)?

High and stable ROE

The company reported strong ROE of 15.17% for 12-month ended 31 Mar 2026 and ROE declined marginally by -28 bps from 1 year ago

What is ROE (FY)?

High and stable operating margin

The company reported strong operating margin of 24.68% for 12-month ended 31 Mar 2026 and operating margin improved marginally by 125 bps from 1 year ago

What is Operating profit margin?

Moderate EPS growth and above median growth of industry

The company delivered moderate EPS growth of 12.51% for 12-month ended 31 Mar 2026 and the growth was 2.4 percentage points higher than median growth of industry

What is EPS growth (1Y)?

Low Debt to Equity, not much change from last year

The company has low Debt to Equity of 0.15 as on 31 Mar 2026 and Debt to Equity increased marginally by 0.03 in the last 1 year

What is Debt to Equity?

Company is net cash

The company is net cash i.e., cash and cash equivalents exceed total debt indicating a healthy balance sheet

What is Net Debt ?

Negative

Expensive and at a premium to industry median P/E

PE TTM of 48.09 indicates that the stock is expensive on a standalone basis and is at a 83.27% premium to industry median P/E

What is P/E Ratio?

Median: 26.24

Value 48.09

-93.58496.28

Low revenue growth and in line with median growth of industry

The company delivered low revenue growth of 9.76% for 12-month ended 31 Mar 2026 and the growth was 0.95 percentage points higher than median growth of industry

What is Sales growth (1Y)?

Median: 8.81

Value 9.76

-17.5974.43

Low dividend yield

The company has a low dividend yield of 0.2%

What is Dividend yield?

Neutral

Company's earnings are of moderate quality

Earnings quality score of 68.6 indicates that the company's earnings are of moderate quality. Earnings quality is measured using combination of earnings persistence, probability of manipulation and earnings to cash conversion

What is Earnings quality score?

68.6 / 100

Financial Snapshot

See detailed analysis

Multi-year trends for Happy Forgings Ltd. covering revenue, net profit, ROE, and EBITDA for a quick view of financial health over time.

Net Revenue FY

Profit After Tax FY

ROE FY

EBITDA FY

Happy Forgings Ltd. Shareholding Pattern

Quarterly breakdown of Happy Forgings Ltd. ownership including promoter, FII, DII, mutual fund, and public holdings as disclosed to NSE/BSE.

	Sep 2013	Sep 2014	Sep 2015	Sep 2016	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Total Promoter	28.29	32.96	100.00	86.39	78.60	78.60	78.60	78.60	78.60	78.57	78.54	78.52	78.50	78.48
Indian Promoter	28.29	32.96	100.00	86.39	78.60	78.60	78.60	78.60	78.60	78.57	78.54	78.52	78.50	78.48
Foreign Promoter	0.00	0.00	0.00	0.00	-	-	-	-	-	-	-	-	-	-
Institutions	0.00	0.00	0.00	0.00	5.89	18.04	18.93	19.41	19.34	19.26	19.15	19.03	18.57	18.21
Mutual Funds / UTI	0.00	0.00	0.00	0.00	2.47	7.42	7.59	7.86	7.53	11.67	11.52	11.68	11.59	14.63
FI/Bank/Insurance	0.00	0.00	0.00	0.00	1.53	0.70	0.58	0.55	0.48	0.33	0.32	0.22	0.22	0.22
Govt	0.00	0.00	0.00	0.00	-	-	-	-	-	-	-	-	-	-
FII	0.00	0.00	0.00	0.00	1.81	1.12	2.24	2.27	2.28	2.19	2.17	2.02	1.84	1.73
Other Institutions	0.00	0.00	0.00	0.00	0.07	8.80	8.52	8.72	9.05	5.07	5.14	5.12	4.92	1.63
Non-Institution	71.71	67.04	0.00	13.61	15.51	3.35	2.47	1.98	2.05	2.17	2.31	2.45	2.93	3.31
Bodies Corporate	0.00	0.00	0.00	0.00	0.02	0.11	0.10	0.07	0.09	0.16	0.17	0.20	0.21	0.25
Others (incl. Retail) No. of shareholders	71.71 13	67.04 13	0.00 0	13.61 1	15.49 2,51,723	3.24 93,429	2.37 73,930	1.91 65,215	1.96 64,839	2.01 64,520	2.14 63,632	2.25 60,909	2.72 61,277	3.06 57,592

Holdings and Presence

Indices and prominent investors with a stake in this stock.

Index Presence

#	Index	Weight	Rank
1	SHI: Castings & Forgings	15.07%	1 / 10

Bulk, Block and Insider Trades

Recent bulk deals, block deals, and insider trading activity in Happy Forgings Ltd. shares as reported to NSE and BSE.

Name	Month	Transaction	Holding % pre transaction	Average price	Qty.	Transaction value
PANKAJ KUMAR GOYAL Designated Person	March-2026	Market Purchase (Acquisition) 18th Mar 2026	0.00 %	₹ 1,291.79	2.16 k	₹ 27.93 lac
PANKAJ KUMAR GOYAL Designated Person	March-2026	Market Sale (Disposal) 18th Mar 2026	0.00 %	₹ 1,267.14	2.16 k	₹ 27.40 lac
PANKAJ KUMAR GOYAL Designated Person	March-2026	Market Sale (Disposal) 18th Mar 2026	0.01 %	₹ 1,264.73	5.98 k	₹ 75.66 lac
Dnyaneshwar Turambekar Designated Person	February-2026	Market Sale (Disposal) 24th Feb 2026	0.00 %	₹ 1,296.63	3.00 k	₹ 38.90 lac
Patwinder Singh Designated Person	February-2026	Market Sale (Disposal) 17th Feb 2026	0.00 %	₹ 1,325.00	1.50 k	₹ 19.88 lac
GURJINDER SINGH Designated Person	February-2026	Market Sale (Disposal) 14th Feb 2026	0.00 %	₹ 1,280.30	465.00	₹ 5.95 lac
GURJINDER SINGH Designated Person	February-2026	Market Sale (Disposal) 14th Feb 2026	0.00 %	₹ 1,241.08	909.00	₹ 11.28 lac
Mangesh Shantaram Purandare Designated Person	December-2025	Market Sale (Disposal) 19th Dec 2025	0.00 %	₹ 1,059.40	1.26 k	₹ 13.36 lac
Patwinder Singh Designated Person	September-2025	Market Sale (Disposal) 2nd Sep 2025	0.01 %	₹ 891.77	2.36 k	₹ 21.02 lac
Patwinder Singh Designated Person	September-2025	Market Sale (Disposal) 2nd Sep 2025	0.01 %	₹ 904.59	1.00 k	₹ 9.06 lac

Corporate Actions

History of Happy Forgings Ltd. dividends, bonus issues, stock splits, rights issues, and other corporate events.

Dividend₹ 4/share
Record date: 20th Jul 2026Ex-date: 20th Jul 2026
Announced on: 21st May 2026
Dividend₹ 3/share
Record date: 22nd Jul 2025Ex-date: 22nd Jul 2025
Announced on: 17th May 2025
Dividend₹ 4/share
Record date: 22nd Jul 2024Ex-date: 22nd Jul 2024
Announced on: 24th May 2024

Company Profile

Overview of Happy Forgings Ltd. covering business description, industry classification, key management, financial ratios, and listed exchange details.

Happy Forgings Limited is an India-based company, which is a manufacturer of heavy forged and precision-machined components. The Company is engaged in the manufacturing of auto components and engineering parts. The Company’s products include crankshafts, differential cases, front axle components, ra...

Key personnel

Pankaj Kumar Goyal

Chief Financial Officer

Ms. Bindu Garg

Compliance Officer, Company Secretary

Mr. Paritosh KumarD

Chairman of the Board, Managing Director

Mr. Narinder Juneja SinghD

Chief Executive Officer, Chief Operating Officer, Executive Director

Mr. Ashish GargD

Managing Director, Executive Director

Ms. Megha GargD

Whole-Time Director

Suman GargD

Whole-Time Director (Promoter)

Nitin AggarwalD

Director

View all

Incorporated on

02 Jul 1979

Last Annual

31 Mar 2026

Last Interim

31 Mar 2026

No. of Employees

3,514

IPO date

27 Dec 2023

Free Float

2,03,19,274

Website

https://happyforgingsltd.com

Phone no.

+911615000551

Address

B-29-2254/1,, Kanganwal Road, P. O Jugiana, LUDHIANA, 141120, India

Frequently Asked Questions

What is the current share price of Happy Forgings Ltd.?

The current share price of Happy Forgings Ltd. is ₹ 1,499.10 as of 3 Jul 2026.

What is the market capitalisation of Happy Forgings Ltd.?

The market capitalisation of Happy Forgings Ltd. stands at ₹ 14,506.10 Cr.

What is the PE ratio of Happy Forgings Ltd.?

The Price-to-Earnings (PE) ratio of Happy Forgings Ltd. is 48.09 as of the latest trailing twelve months data.

What is the ROE and ROCE of Happy Forgings Ltd.?

Happy Forgings Ltd. has a Return on Equity (ROE) of 15.17% and a Return on Capital Employed (ROCE) of 16.83% as per the latest financial reports.

What is the 52-week high and low of Happy Forgings Ltd.?

The 52-week high of Happy Forgings Ltd. is - and the 52-week low is -.

What is the dividend yield of Happy Forgings Ltd.?

The dividend yield of Happy Forgings Ltd. is 0.20% based on the current market price.

What is the FII and DII holding in Happy Forgings Ltd.?

Foreign Institutional Investors (FII) hold 1.73%, Domestic Institutional Investors (DII) hold 14.85% and retail/public investors hold 3.06% of Happy Forgings Ltd. shares.

What sector does Happy Forgings Ltd. belong to?

Happy Forgings Ltd. operates in the Capital Goods sector. 83.33% of analysts have a Buy or Strong Buy rating on Happy Forgings Ltd. with a consensus target price of ₹ 1,581.00, implying 2.86% upside from current levels.

What is the beta of Happy Forgings Ltd.?

The beta of Happy Forgings Ltd. is 1.02, indicating its price volatility relative to the broader market. Over the past 1 year, Happy Forgings Ltd. has delivered an absolute return of 59.44%.

What is the RSI of Happy Forgings Ltd.?

The 14-day Relative Strength Index (RSI) of Happy Forgings Ltd. is 65.37, placing it approaching overbought territory. An RSI above 70 is considered overbought and below 30 is considered oversold.

Happy Forgings Ltd.

Stock Scores

Key Metrics

Share Price

Stock Analysis

Financial Snapshot

Happy Forgings Ltd. Shareholding Pattern

Holdings and Presence

Bulk, Block and Insider Trades

Corporate Actions

Company Profile

Frequently Asked Questions

Stock Analysis

Holdings and Presence

Corporate Actions

Company Profile