Happy Forgings Limited
Happy Forgings Limited manufactures and sells forgings and related components 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; transmission parts, such as shafts and spindles, crown wheels and pinions, rings, and connecting rods. It also offers windmill application products, including planet carrier, pinion shaft, and housing; oil and gas component, 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.
Valuation
Profitability
Returns
Solvency
AI Summary
Indian StockStrengths1
- Strong 5-year revenue CAGR of 19.5%
Concerns0
Rule-based from financial data. Not advice.
Monthly Returns
Year-to-Date ROI
Historical Volatility
Historical Performance
Revenue, profitability, and cash flow trends (βΉ Crores)
Revenue (10Y)
Operating Income (10Y)
Net Profit (10Y)
Operating Margin % (10Y)
Dividend Payout % (10Y)
Free Cash Flow (10Y)
Growth Summary
Latest fiscal year: Mar 2025
Historical Growth
Year-by-year revenue, profitability, and cash flow (βΉ Crores, last 8 years)
| Year | Revenue | Op. Income | Net Profit | CFO | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|---|
| Mar 2025 | βΉ1.41 K Cr | β | βΉ268.00 Cr | β | β | 14.5% | 3.8% | 10.3% |
| Mar 2024 | βΉ1.36 K Cr | β | βΉ243.00 Cr | β | β | 15.1% | 13.5% | 16.3% |
| Mar 2023 | βΉ1.20 K Cr | β | βΉ209.00 Cr | β | β | 21.2% | 39.2% | 47.2% |
| Mar 2022 | βΉ860.00 Cr | β | βΉ142.00 Cr | β | β | 18.0% | 47.0% | 65.1% |
| Mar 2021 | βΉ585.00 Cr | β | βΉ86.00 Cr | β | β | 13.3% | 4.8% | 7.5% |
| Mar 2020 | βΉ558.00 Cr | β | βΉ80.00 Cr | β | β | 14.3% | -25.6% | -15.8% |
| Mar 2019 | βΉ750.00 Cr | β | βΉ95.00 Cr | β | β | 19.8% | 36.4% | 63.8% |
| Mar 2018 | βΉ550.00 Cr | β | βΉ58.00 Cr | β | β | 31.5% | β | β |
Financial Statements
Income statement, balance sheet, and cash flow (βΉ Crores, as reported)
Consolidated Figures in USD Millions.
| Unnamed: 0 | TTM |
|---|---|
| Revenue / Net Sales | 1,437 |
| Total Expenses | 1,017 |
| EBIT / Operating Profit | 421 |
| OPM % | 29% |
| Other Income | 33 |
| Finance Costs | 9 |
| Depreciation & Amortisation | 81 |
| Profit Before Tax | 364 |
| Tax % | - |
| Net Profit / PAT | 271 |
| EPS (βΉ) | 28.80 |
| Dividend Payout % | - |
Peer Comparison
Industrials sector peers, ranked by market cap
| Company | Market Cap | Revenue | P/E | P/B | EV/EBITDA | Rev G 1Y |
|---|---|---|---|---|---|---|
| Happy Forgings Limitedthis co. | βΉ10.40 K Cr | βΉ1.41 K Cr | 38.30 | 5.31 | 25.79 | 3.8% |
| Larsen & Toubro Limited | βΉ5.35 L Cr | βΉ1.43 L Cr | 52.20 | 7.87 | 34.29 | 12.9% |
| Adani Ports and Special Economic Zone Ltd | βΉ3.29 L Cr | βΉ7.91 K Cr | 159.00 | 10.36 | 62.82 | 16.2% |
| Solar Industries India Limited | βΉ1.15 L Cr | βΉ4.46 K Cr | 121.00 | 32.81 | 128.61 | 19.9% |
| Polycab India Limited | βΉ1.14 L Cr | βΉ21.91 K Cr | 46.90 | 10.84 | 42.32 | 21.4% |
| Cummins India Ltd. | βΉ1.10 L Cr | βΉ10.34 K Cr | 49.50 | 15.01 | 47.01 | 15.4% |
| Ashok Leyland Ltd. | βΉ1.09 L Cr | βΉ38.75 K Cr | 32.00 | 9.49 | 22.91 | 1.0% |
| Industry Average | β | βΉ5.40 K Cr | 57.83 | 7.16 | 40.88 | 45.0% |