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Happy Forgings Ltd.

Automobile & AncillariesForgings

www.happyforgingsltd.com BSE: 544057NSE: HAPPYFORGE

₹2,161.00BSE5.70%

16 Sep, 4:01 PM

₹2,161.00

₹19.62K Cr

59.93

8.87

15.23%

₹2,181.20

₹2,044.55

₹2,484.30

₹890.05

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Price Performance

Peer Comparison

Name
BHARAT FORGE BHARATFORG	1,889.95	126.86	90,356.36	0.45	-89.89	-131.67%	4,639.94	18.71%	12.46
Happy Forgings Ltd. HAPPYFORGE	2,161.00	59.93	19,621.28	0.19	91.46	39.24%	449.42	27.03%	18.19
RK FORGINGS RKFORGE	690.10	117.25	12,571.64	0.15	46.88	297.63%	1,216.67	19.84%	5.56
BALUFORGE BALUFORGE	483.60	22.58	5,870.51	0.03	66.09	15.89%	300.72	28.95%	22.95
M.M.FORGINGS MMFL	605.85	17.02	2,925.14	0.67	90.43	370.20%	420.48	17.36%	9.00
HILTON MET HILTON	17.50
GANGAFORGE GANGAFORGE	1.59

Quarterly Results

consolidated figures in ₹ Crores · Quarterly

Particulars	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	343.34	341.47	361.13	354.33	351.97	353.80	377.39	391.31	423.84	449.42
Expenses	246.21	243.86	255.77	252.87	249.70	252.65	261.59	270.91	290.50	308.57
	97.14	97.60	105.37	101.46	102.27	101.15	115.80	120.40	133.34	140.85
	28.29%	28.58%	29.18%	28.63%	29.06%	28.59%	30.68%	30.77%	31.46%	31.34%
	7.20	7.61	13.08	6.62	10.03	10.35	6.25	8.16	6.05	11.08
Interest	0.86	1.37	1.57	2.15	2.45	2.31	1.89	2.46	3.81	3.06
	16.02	18.01	19.66	19.11	20.28	20.55	21.56	22.43	24.51	26.24
	87.46	85.82	97.22	86.82	89.56	88.64	98.60	103.67	111.07	122.64
	24.78%	25.66%	26.59%	25.66%	24.49%	25.90%	25.52%	23.85%	24.76%	25.42%
	65.78	63.80	71.37	64.55	67.63	65.69	73.44	78.94	83.56	91.46
	6.98	6.77	7.58	6.85	7.18	6.97	7.79	8.37	8.86	9.69

Profit & Loss

consolidated figures in ₹ Crores · Annual

Particulars	FY 2021-22 (Mar)	FY 2022-23 (Mar)	FY 2023-24 (Mar)	FY 2024-25 (Mar)	FY 2025-26 (Mar)
No of Months	12.00	12.00	12.00	12.00	12.00
INCOME :
	861.00	1,199.45	1,363.87	1,417.95	1,556.41
	860.05	1,196.53	1,358.24	1,408.89	1,546.34
EXPENDITURE :
Increase/Decrease in Stock	-47.46	3.33	-33.14	-11.11	25.04
Raw Material Consumed	435.85	547.72	629.73	602.78	606.77
Power & Fuel Cost	67.65	75.76	92.36	99.10	104.98
Employee Cost	68.68	87.78	114.46	124.82	136.58
Other Manufacturing Expenses	74.88	97.22	118.18	135.36	148.49
General and Administration Expenses	4.73	8.04	8.61	11.42	12.14
Selling and Distribution Expenses	20.41	26.54	33.16	30.78	31.45
Miscellaneous Expenses	4.41	9.19	7.34	9.05	10.19
	629.16	855.59	970.70	1,002.20	1,075.65
Operating Profit (Excl OI)	230.89	340.94	387.54	406.70	470.69
	6.06	5.74	13.35	37.45	30.81
	236.95	346.68	400.89	444.15	501.50
Interest	7.16	12.48	11.78	7.53	10.47
PBDT	229.79	334.20	389.12	436.61	491.03
	37.74	54.18	64.73	77.06	89.04
Profit Before Taxation & Exceptional Items	192.05	280.02	324.39	359.55	401.98
	192.05	280.03	324.39	359.55	401.98
Provision for Tax	49.76	71.33	81.40	92.12	100.35
	142.29	208.70	242.98	267.44	301.63
Extra items				0.00	0.00
Consolidated Net Profit	142.29	208.70	242.98	267.44	301.63
Profit Balance B/F	419.88	553.54	762.47	994.00	1,223.98
Appropriations	562.17	762.24	1,005.45	1,261.43	1,525.61
Equity Dividend %			200.00%	150.00%	200.00%
	15.90	23.32	25.79	28.38	31.97
Adjusted EPS	15.90	23.32	25.79	28.38	31.97

Balance Sheet

consolidated figures in ₹ Crores

Particulars	FY 2021-22 (Mar)	FY 2022-23 (Mar)	FY 2023-24 (Mar)	FY 2024-25 (Mar)	FY 2025-26 (Mar)
	17.90	17.90	18.84	18.85	18.87
Share Warrants & Outstandings			5.67	9.95	7.26
Total Reserves	769.72	970.40	1,587.98	1,820.75	2,102.00
Reserve excluding Revaluation Reserve	769.72	970.40	1,587.98	1,820.75	2,102.00
Revaluation reserve	0.00			0.00
	787.62	988.30	1,612.49	1,849.55	2,128.13
Secured Loans	74.05	58.18
Deferred Tax Assets / Liabilities	22.94	23.05	31.62	39.33	48.99
Total Non-Current Liabilities	96.99	81.22	31.62	39.33	48.99
Trade Payables	44.23	47.74	55.54	45.36	59.44
Other Current Liabilities	30.63	59.76	36.72	44.64	63.20
Short Term Borrowings	161.64	134.34	143.31	227.99	329.62
Short Term Provisions	8.76	14.80	6.27	8.36	3.43
Total Current Liabilities	245.26	256.64	241.84	326.35	455.69
Total Liabilities	1,129.87	1,326.16	1,885.95	2,215.22	2,632.81
Gross Block	585.82	859.11	988.05	1,228.26	1,487.65
Less: Accumulated Depreciation	129.63	180.67	244.37	320.55	379.23
Net Block	456.19	678.44	743.67	907.71	1,108.42
Capital Work in Progress	212.26	74.75	121.94	116.39	229.41
Long Term Investment	0.00			0.00
Long Term Loans & Advances	34.94	60.00	81.30	128.22	186.37
Other Non Current Assets	0.48	23.02	192.53	137.85	29.44
Total Non-Current Assets	703.87	836.21	1,144.20	1,296.59	1,561.71
Currents Investments	0.42			79.58	237.03
Inventories	183.98	169.60	224.17	232.42	232.76
Sundry Debtors	222.04	308.06	356.92	426.54	394.78
Cash and Bank	1.46	0.34	121.84	136.56	52.94
Other Current Assets	6.98	3.39	12.11	22.87	12.93
Short Term Loans and Advances	10.51	7.94	26.73	20.66	140.66
Total Current Assets	425.39	489.33	741.75	918.64	1,071.10
Net Current Assets (Including Current Investments)	180.13	232.69	499.91	592.29	615.41
Total Assets	1,129.87	1,326.16	1,885.95	2,215.22	2,632.81
Contingent Liabilities	5.35	5.37	12.16	23.84	28.49
Total Debt	240.35	218.52	143.31	227.99	329.62
	88.00	110.43	170.57	195.20	224.79
Adjusted Book Value	88.00	110.43	170.57	195.20	224.79

Cash Flow

consolidated figures in ₹ Crores

Particulars	FY 2021-22 (Mar)	FY 2022-23 (Mar)	FY 2023-24 (Mar)	FY 2024-25 (Mar)	FY 2025-26 (Mar)
No of Months	12.00	12.00	12.00	12.00	12.00
	192.05	280.03	324.39	359.55	401.98
Adjustment	40.19	71.21	72.11	64.58	77.00
Changes In working Capital	-108.84	-77.94	-123.19	-48.58	58.89
Cash Flow after changes in Working Capital	123.40	273.29	273.30	375.56	537.87
Cash Flow from Operating Activities	80.29	209.46	189.44	292.33	444.67
Cash Flow from Investing Activities	-165.68	-172.45	-469.73	-320.20	-496.83
Cash Flow from Financing Activitie	82.52	-37.01	280.92	40.17	64.93
Net Cash Inflow / Outflow	-2.87	-0.01	0.63	12.30	12.77
Opening Cash & Cash Equivalents	2.89	0.02	0.01	0.64	12.95
Closing Cash & Cash Equivalent	0.02	0.01	0.64	12.95	25.72

Ratios

Valuation

59.93

8.87

36.72

11.95

34.68

234.36

Profitability

15.23

18.19

12.44

30.24

19.38

Leverage & Liquidity

0.16

2.35

39.38

Returns

0.19

0.64

Shareholding Pattern

Numbers in percentages

Particulars	Jun '24	Sep '24	Dec '24	Mar '25	Jun '25	Sep '25	Dec '25	Mar '26	Jun '26
	78.60	78.60	78.60	78.57	78.54	78.52	78.50	78.48	78.46
	18.93	19.41	19.34	19.26	19.15	19.03	18.57	18.21	17.42
	2.47	1.98	2.05	2.17	2.31	2.45	2.93	3.31	4.13
	21.40	21.40	21.40	21.43	21.46	21.48	21.50	21.52	21.54
No. of Shareholders	74,090	65,376	64,982	64,670	63,790	61,075	61,484	57,815	64,341

Corporate Actions

Showing: All

Date	Type	Details	Ex-Date	Record Date
2026-07-21	Board Meeting	Quarterly Results
2026-05-21	Ex Dividend	Rs.4.0000 per share(200%)Final Dividend	2026-07-20	2026-07-20
2026-05-21	AGM

Insider Trading

Date	Person	Category	Transaction Type	Shares
2026-09-07	NARINDER SINGH	Market	Buy	24
2026-08-18	BAJIRAO PANDURANG PATIL	Market	Sell	864
2026-08-18	NARINDER SINGH	Market	Sell	500
2026-08-13	GURJINDER SINGH	13-Aug-26	Market	90
2026-08-13	GURJINDER SINGH	13-Aug-26	Market	4
2026-08-13	BAJIRAO PADURANG PATIL	12-Aug-26	Market	862
2026-08-13	GURJINDER SINGH	13-Aug-26	Market	515
2026-08-11	NARINDER SINGH	10-Aug-26	Market	2,000
2026-08-10	MANGESH SHANTARAM PURANDARE	Market	Sell	1,261
2026-06-19	MANISHA	Market	Sell	600
2026-06-19	MANISHA	Market	Sell	380
2026-06-19	MANISHA	Market	Sell	200
2026-06-19	GURJINDER SINGH	Market	Sell	161
2026-05-28	PATWINDER SINGH	Market	Sell	2,000
2026-05-26	ATLPS1918H	Market	Sell	1,050

Sector Overview

Automobile & AncillariesForgings

Happy Forgings Ltd. operates in the Automobile & Ancillaries sector under the Forgings industry. This sector is one of the key drivers of the Indian economy and is closely tracked by the relevant Nifty sectoral index.

Company Profile

Corporate information and contact details

Key Management

7 members across the board and senior leadership

Bindu Garg

Company Secretary & Compliance Officer

—

Paritosh Kumar

Chairman & Managing Director

₹4.30 Cr

Mar '26

Ashish Garg

Managing Director

₹3.64 Cr

Mar '26

Megha Garg

Whole Time Director

₹84.49 L

Mar '26

Atul Behari Lall

Non Executive Independent Director

₹20.00 L

Mar '26

Rajeswari Karthigeyan

Non Executive Independent Director

₹20.00 L

Mar '26

Ravindra Pisharody

Non Executive Independent Director

₹20.00 L

Mar '26

HAPPYFORGE Latest News

News

2 of 2 articles

EQUITY7 Jul 2026 · 16:50

Happy Forgings informs about compliances-certificate

EQUITY21 May 2026 · 16:28

Happy Forgings reports Profit after tax of Rs 835.65 Mln, in the March 2026 quarter

HAPPYFORGE

₹2,161.00

+5.7%