Happy Forgings Limited
NSE: HAPPYFORGEINE330T01021·Capital Goods·www.happyforgingsltd.com ↗·Mcap ₹19,837 Cr·Listed 2023
₹2,063.50▼ ₹21.30  (−1.02%)
52W: ₹889 – ₹2,470 · Vol: 37.2K shares · Close 25 Sept
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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q4 FY24
₹ croreQ1 FY27Q4 FY26Q3 FY26Q2 FY26Q1 FY26Q4 FY25Q3 FY25Q2 FY25Q1 FY25Q4 FY24
Revenue from operations449424391377354352354361341343
Other income11.168.26.310.4106.613.17.67.2
Total expenses338319296285276272274277263263
EBITDA14113312011610110210110597.697.1
EBITDA margin31.3%31.5%30.8%30.7%28.6%29.1%28.6%29.2%28.6%28.3%
Finance costs3.13.82.51.92.32.52.11.61.40.9
Depreciation26.224.522.421.620.620.319.119.71816
Profit before tax12311110498.688.689.686.897.285.887.5
Tax31.227.524.725.22321.922.325.92221.7
Net profit91.583.678.973.465.767.664.571.463.865.8
Net margin20.4%19.7%20.2%19.5%18.6%19.2%18.2%19.8%18.7%19.2%
EPS (₹)9.708.868.377.796.977.186.857.586.777.25
Net profit YoY+39.2%+23.6%+22.3%+2.9%+3.0%+2.8%––––

Annual results

financial years ending March · from the fourth-quarter filings
₹ croreFY26FY25FY24
Revenue from operations1,5461,4091,358
Other income30.837.513.4
Total expenses1,1751,0871,047
EBITDA471407388
EBITDA margin30.4%28.9%28.5%
Finance costs10.57.511.8
Depreciation8977.164.7
Profit before tax402360324
Tax10092.181.4
Net profit302267243
Net margin19.5%19.0%17.9%
EPS (₹)31.9928.3926.78
Net profit YoY+12.8%+10.1%–
EPS is as filed for each period and is not restated for later bonus issues or splits.

Cash flow

annual · ₹ crore
₹ croreFY26FY25FY24
Operating cash flow445292189
Investing cash flow−497−320−469
Financing cash flow64.940.2281
Capital expenditure454271194
Free cash flow (CFO − capex)−9.621.2−5.1

Net profit trend

annual, ₹ crore
FY24
₹243
FY25
₹267+10%
FY26
₹302+13%

Result filings

as filed with NSE · PDF and XBRL
PeriodBasisFiledDocuments
Q1 FY27Consolidated4 Aug 2026PDF on NSE XBRL
Q1 FY27Standalone4 Aug 2026PDF on NSE XBRL
Q4 FY26Consolidated · audited21 May 2026PDF on NSE XBRL
Q4 FY26Standalone · audited21 May 2026PDF on NSE XBRL
Q3 FY26Consolidated9 Feb 2026PDF on NSE XBRL
Q3 FY26Standalone9 Feb 2026PDF on NSE XBRL
Q2 FY26Consolidated6 Nov 2025PDF on NSE XBRL
Q2 FY26Standalone6 Nov 2025PDF on NSE XBRL
Q1 FY26Consolidated9 Aug 2025 PDF XBRL
Q1 FY26Standalone9 Aug 2025 PDF XBRL

Annual reports

NSE archive
Key ratios
P/E (TTM)5Y avg 32.8×59.5×
P/B5Y avg 5.06×9.15×
ROEFY26, on average equity15.2%
Net margin19.5%
Debt / equity0.15×
Revenue CAGR (3Y)–
Profit CAGR (3Y)–
EPS (TTM)₹34.70
Market cap₹19,469 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
9.15×
vs 5-point avg 5.06× (+81%)
4.01× low5.06× avg9.15× high
History points are balance-sheet dates (2024 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹2,633 Cr+19%
Net worth₹2,128 Cr+15%
Total borrowings₹330 Cr+45%
Cash & bank balances₹26 Cr+99%
Investments₹237 Cr+198%
Inventories₹233 Cr+0%
Trade receivables₹395 Cr−7%
Trade payables₹59 Cr+31%
Change vs the same date a year earlier.
Shareholding 30 Jun 2026
%Jun 26Mar 26Dec 25Sept 25Jun 25Mar 25Dec 24Sept 24Jun 24Mar 24Dec 23Dec 23
Promoter78.4678.4878.5078.5278.5478.5778.6078.6078.6078.6078.6078.60
FII1.881.731.842.022.172.192.282.282.241.122.061.81
DII15.5416.4816.7317.0116.9817.0717.0617.1416.6916.935.844.49
of which MF13.8614.6311.5911.6811.52–––––––
Retail3.352.782.462.061.981.891.831.782.212.983.956.26
Other public0.770.530.470.390.330.280.230.200.260.379.558.84
64,341 shareholders · NSE shareholding pattern filings.