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Happy Forgings Ltd

HAPPYFORGE

Happy Forgings Ltd

HAPPYFORGE
IndustrialsHeavy Machinery
SmallcapWith a market cap of ₹8,763 cr, stock is ranked 534
Low RiskStock is 1.99x as volatile as Nifty
921.950.00% (+0.00)
921.950.00% (+0.00)

Price Chart

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Low
Returns
1D
1W
1M
1Y
5Y
Max
SIP
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1D
1W
1M
1Y
5Y
Max
SIP
IndustrialsHeavy Machinery
SmallcapWith a market cap of ₹8,763 cr, stock is ranked 534
Low RiskStock is 1.99x as volatile as Nifty
Scorecard

Performance

Low

Hasn't fared well - amongst the low performers

Valuation

High

Seems to be overvalued vs the market average

Growth

Avg

Financials growth has been moderate for a few years

Profitability

High

Showing good signs of profitability & efficiency

Entry point

Good

The stock is underpriced and is not in the overbought zone

Red flags

Low

No red flag found

How to use scorecard? Learn more

IndustrialsHeavy Machinery
SmallcapWith a market cap of ₹8,763 cr, stock is ranked 534
Low RiskStock is 1.99x as volatile as Nifty

Key Metrics

No LabelNo LabelPB RatioPB RatioDividend YieldDiv. Yield
33.015.430.43%
Sector PESector PESector PBSector PBSector Div YldSctr Div Yld
40.875.890.66%

Forecast & Ratings

Detailed Forecast 
100%
Analysts have suggested that investors can buy this stock

from 3 analysts

Price

Price Upside

Earnings

Earnings Growth

Revenue

Rev. Growth

See Detailed Forecast

Company Profile

Happy Forgings Ltd manufactures high precision forged components for automotive, railway, and industrial applications, serving OEMs globally.

Investor Presentation

View older 

Feb 7, 2025

PDF
View Older Presentations
PE Ratio
44.45
1Y Return
2.22%
Buy Reco %
100.00
PE Ratio
30.11
1Y Return
5.64%
Buy Reco %
100.00
PE Ratio
5.25
1Y Return
45.90%
Buy Reco %
PE Ratio
13.44
1Y Return
50.33%
Buy Reco %
PE Ratio
40.47
1Y Return
18.33%
Buy Reco %
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Forecasts

Price

Revenue

Earnings

Income

Balance Sheet

Cash Flow

Income Statement

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Financial YearFY 2021FY 2022FY 2023FY 2024TTM
Total Revenue590.82866.111,202.281,371.591,434.76
Raw Materialssubtract257.26435.85547.72629.73998.71
Power & Fuel Costsubtract46.2667.6575.7692.36
Employee Costsubtract49.0068.6887.78114.46
Selling & Administrative Expensessubtract3.3825.1434.5841.77
Operating & Other expensessubtract70.3231.84109.7492.37
Depreciation/Amortizationsubtract35.7637.7454.1864.7372.80
Interest & Other Itemssubtract11.787.1612.4811.785.95
Taxes & Other Itemssubtract30.6149.7671.3381.4191.83
EPS9.6615.9023.3226.4528.18
DPS0.000.001.304.004.00
Payout ratio0.000.000.060.150.14

Company Updates

Annual Report and Investor Presentation updates mentioned here are as reported by the company to the exchange
FY 2025

Annual Report Pending

Investor Presentation

Feb 7PDF
Nov 7PDF
Sep 20PDF
 

Peers & Comparison

Comparing 3 stocks from 
IndustrialsHeavy Machinery

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StockPE RatioPE RatioPB RatioPB RatioDiv. YieldDividend Yield
Happy Forgings Ltd36.075.430.43%
Action Construction Equipment Ltd44.4511.840.16%
Isgec Heavy Engineering Ltd30.112.800.40%
TIL Ltd5.2542.17

Price Comparison

Compare HAPPYFORGE with any stock or ETF
Compare HAPPYFORGE with any stock or ETF
HAPPYFORGE
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Shareholdings

Promoter Holdings Trend

Total Promoter Holding

Increasing promoter holding is considered good and reflects management’s positive view about the future outlook

In last 6 months, promoter holding in the company has almost stayed constant

Low Pledged Promoter Holding

Lower pledged promoter holdings is considered better

Pledged promoter holdings is insignificant

Institutional Holdings Trend

Total Retail Holding

Increasing retail holding can be considered bad as it can reflect that institutions and promoters are selling their stake which is being absorbed by retail investors.

In last 3 months, retail holding in the company has almost stayed constant

Foreign Institutional Holding

Foreign Institutional Holding is quantum of stock held by foreign large-quantities-trading entities. Increasing value indicates growing support and comfort for the stock

In last 3 months, foreign institutional holding of the company has almost stayed constant

Tickertape Separator

Shareholding Pattern

Retail and OthersForeign InstitutionsOther Domestic InstitutionsMutual FundsTotal Promoter Holding78.60%7.53%9.53%2.28%2.05%

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Shareholding History

AugDec '23MarJunSepDec '240.00%2.06%1.12%2.24%2.28%2.28%

Mutual Funds Holding Trend

Mutual Fund Holding

Increasing Mutual Fund holdings are generally considered good, as it reflects that fund managers are becoming more bullish about the stock

In last 3 months, mutual fund holding of the company has almost stayed constant

Top 5 Mutual Funds holding Happy Forgings Ltd




Funds (Top 5)Market-cap heldWeight3M holding changePortfolio rank
(3M change)
4.3483%1.22%1.22%33/65 (+28)
1.9308%1.03%0.04%61/80 (+1)
1.6843%2.65%0.80%11/33 (+8)

Compare 3-month MF holding change on Screener

Insider Trades & Bulk Deals

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smallcases

Looks like this stock is not in any smallcase yet.

Events

Dividend Trend

No dividend trend available

Dividends

Corp. Actions

Announcements

Legal Orders

Upcoming Dividends

No upcoming dividends are available

Past Dividends

Cash Dividend

Ex DateEx DateJul 22, 2024

Final
Final | Div/Share: ₹4.00

Dividend/Share

4.00

Ex DateEx Date

Jul 22, 2024

News & Opinions
Corporate
Happy Forgings allots 17,375 equity shares under ESOS

Happy Forgings has allotted 17,375 equity shares under ESOS on 12 February 2025. The Paid-up Share Capital of the Company will accordingly increase from Rs.18,84,49,650 (9,42,24,825 equity shares of Rs.2/- each) to Rs. 18,84,84,400 ( 9,42,42,200 equity shares of Rs. 2/- each). Powered by Capital Market - Live

4 days agoCapital Market - Live
Spotlight
Happy Forgings inks MoU with global manufacturer of industrial equipment

This MoU sets the main terms and principles for a binding long-term supply contract, which will be signed when approved components start shipping in 2028. Under the MoU, the customer has committed an initial investment of approximately Rs 20 crore for tooling and development, with sampling and testing planned for 2027. The binding supply contract will commence in 2028 with the delivery of approved components. Annual revenues are expected to be approximately Rs 95 crore based on minimum committed volumes, with a peak potential of Rs 160 crore per year, contingent on the customer's equipment sales. This order will be executed through HFL's upcoming heavy forging facility, which is being developed as part of a Board-approved capital expenditure plan of Rs 650 crore sanctioned in January 2025. These new capabilities will position Happy Forgings among the select manufacturers capable of producing heavy forged and precision-machined components exceeding 250 kilograms. Ashish Garg, managing director of Happy Forgings, said: 'We are pleased to announce our first MoU in the heavy forged and precision machined components segment for parts exceeding 250 kg with a leading global manufacturer. This agreement provides strong visibility for the deployment of our new heavy forging capacity upon commissioning. It also reinforces our engineering expertise and positions HFL to pursue additional large-scale, heavyweight component opportunities across various industrial sectors. Expanding into this high-value segment aligns with our long-term strategy to diversify our portfolio, drive profitability, and create lasting value for our stakeholders.' Happy Forgings is principally engaged in the manufacturing of forgings and related components. The company's consolidated net profit jumped 11.5% to Rs 64.55 crore on 3.6% increase in net sales to Rs 354.32 crore in Q3 FY25 over Q3 FY24. The scrip declined 3.11% to end at Rs 932.25 on Tuesday, 11 February 205.Powered by Capital Market - Live

4 days agoCapital Market - Live
Corporate
Happy Forgings wins international order for supply of components

Happy Forgings has obtained an international order to supply heavy forged and precision-machined components weighing upto 1,000 Kgs for use in industrial and mining applications. The order entails annual committed volumes of Rs 95 crore with a peak annual revenue potential of Rs 160 crore. Testing and sampling is scheduled in 2027 and supplies are expected to commence in 2028 under the binding long-term supply contract. Powered by Capital Market - Live

5 days agoCapital Market - Live
Earnings
Happy Forgings consolidated net profit rises 11.49% in the December 2024 quarter

Net profit of Happy Forgings rose 11.49% to Rs 64.55 crore in the quarter ended December 2024 as against Rs 57.90 crore during the previous quarter ended December 2023. Sales rose 3.61% to Rs 354.32 crore in the quarter ended December 2024 as against Rs 341.99 crore during the previous quarter ended December 2023. ParticularsQuarter EndedDec. 2024Dec. 2023% Var. Sales354.32341.99 4 OPM %28.6427.83 - PBDT105.9394.73 12 PBT86.8277.67 12 NP64.5557.90 11 Powered by Capital Market - Live

1 week agoCapital Market - Live
Corporate
Happy Forgings to hold board meeting

Happy Forgings will hold a meeting of the Board of Directors of the Company on 7 February 2025.Powered by Capital Market - Live

2 weeks agoCapital Market - Live
Corporate
Happy Forgings plans to establish advance forging capabilities

Happy Forgings (HFL) has announced that its Board of Directors' has approved a capital investment of up to Rs. 650 crore to establish advanced forging capabilities to serve the non-automotive industrial segment. This new facility will be the first of its kind in Asia and the second largest globally. The capex investment is focused towards heavy forged and machined components such as large crankshafts for industrial and marine applications, as well as other heavy components like axles, gears, oil & gas valves and flanges, spindles, connectors and shafts etc. These components will serve a range of non-automotive industries including, power generation, marine, mining, high-horsepower farm equipment, material handling equipment and cranes, wind energy, oil & gas and specialized segments like aerospace, defense and nuclear. With this investment, the company will expand into the higher-weight segment, producing components up to 3,000 kilograms. This strategic enhancement of forging capabilities positions HFL to cater to the non-automotive industrial segment, addressing niche applications where heavyweight components are critical. The total capital expenditure for this facility will be spread over the next 2-3 years, primarily financed through internal accruals and partially through debt, with production anticipated to commence by the end of FY2027. Powered by Capital Market - Live

1 month agoCapital Market - Live
Corporate
Board of Happy Forgings approves capex of Rs 650 cr

The board of Happy Forgings at its meeting held on 06 January 2025 has approved capex budget of Rs 650 crore to setup facilities for heavyweight forged and machined components.Powered by Capital Market - Live

1 month agoCapital Market - Live
Corporate
Happy Forgings allots 19,943 equity shares under ESOS

Happy Forgings has allotted 19,943 equity shares to the employees of the Company pursuant to exercise of options under its Employees Stock Options Scheme (ESOS). The Paid-up Share Capital of the Company will accordingly increase from Rs.18,84,09,764 equity shares of Rs.2/- each to Rs.18,84,49,650 equity shares of Rs. 2/- each.Powered by Capital Market - Live

1 month agoCapital Market - Live
Spotlight
Happy Forgings bags supply order worth Rs 140-cr

The said initial order for the crankshaft component is valued at approximately Rs 140 crore, spanning the period from FY26 to FY31. Deliveries are scheduled to begin in FY26, following the successful completion of testing and approval processes. Peak annual revenues under this order are expected to reach Rs 27 crore. Depending on the sales performance of the vehicles using the crankshaft, a subsequent order could potentially double the supply volumes starting in FY28, increasing peak annual revenues to over Rs 50 crore. HFL's investments in manufacturing capabilities has positioned it to meet the growing demand for high-precision components from both global and domestic automotive OEMs. Ashish Garg, managing director of Happy Forgings said, 'This order highlights our ability to provide high-quality solutions driven by advanced engineering capabilities and a proven track record of successful execution. We are committed to maintaining our leadership in precision engineering and continue to focus on enhancing the value and innovation we bring to our products, while expanding our presence in the passenger vehicle segment.' Happy Forgings is principally engaged in the manufacturing of forgings and related components. The company's consolidated net profit jumped 29.2% to Rs 71.37 crore on 5.3% increase in net sales to Rs 361.13 crore in Q2 FY25 over Q2 FY24. The counter declined 2.98% to ends at Rs 1050.80 on Friday, 13 December 2024.Powered by Capital Market - Live

2 months agoCapital Market - Live
Earnings
Happy Forgings consolidated net profit rises 29.15% in the September 2024 quarter

Net profit of Happy Forgings rose 29.15% to Rs 71.37 crore in the quarter ended September 2024 as against Rs 55.26 crore during the previous quarter ended September 2023. Sales rose 5.26% to Rs 361.13 crore in the quarter ended September 2024 as against Rs 343.08 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales361.13343.08 5 OPM %29.1827.33 - PBDT116.8889.99 30 PBT97.2273.79 32 NP71.3755.26 29 Powered by Capital Market - Live

3 months agoCapital Market - Live