HAPPY FORGINGS LIMITED (HAPPYFORGE) financials

HAPPY FORGINGS LIMITED (HAPPYFORGE) NSE/BSE financials on Fincrux: quarterly results, profit and loss, cash flow, balance sheet, ratios, and shareholding.

Incorporated in July 1979, Happy Forgings Limited is an Indian manufacturer specializing in designing and manufacturing heavy forgings and high-precision machined components.[1]

Market Cap: ₹18,254Cr.
Current Price: ₹1,937
Stock P/E: 55.8
ROE: 15.0%
ROCE: 18.0%
Book Value: ₹226
Dividend Yield: 0.21%
52W High / Low: ₹2,484/889

In Jun 2026, HAPPY FORGINGS LIMITED (HAPPYFORGE) reported sales ₹449 Cr and net profit ₹91 Cr.

Annual TTM: sales ₹1,642 Cr, net profit ₹327 Cr.

Shareholding: Promoters 78.44% (Sep 2026), FIIs 2.37% (Sep 2026), DIIs 14.93% (Sep 2026), Public 4.26% (Sep 2026), No. of Shareholders 65,550% (Sep 2026).

HAPPYFORGE quarterly results (₹ Cr.)
Category	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales	361	354	352	354	377	391	424	449
Expenses	256	253	250	253	262	271	291	309
Operating Profit	105	101	102	101	116	120	133	141
OPM %	29%	29%	29%	29%	31%	31%	31%	31%
Other Income	13	7	10	10	6	8	6	11
Interest	2	2	2	2	2	2	4	3
Depreciation	20	19	20	21	22	22	25	26
Profit before tax	97	87	90	89	99	104	111	123
Tax %	27%	26%	24%	26%	26%	24%	25%	25%
Net Profit	71	65	68	66	73	79	84	91
EPS in Rs	7.58	6.85	7.19	6.97	7.79	8.37	8.86	9.69
Raw PDF	—	—	—	—	—	—	—	—

HAPPYFORGE profit and loss (₹ Cr.)
Category	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	558	585	860	1,197	1,358	1,409	1,546	1,642
Expenses	416	426	629	856	971	1,002	1,076	1,132
Operating Profit	142	159	231	341	388	407	471	510
OPM %	26%	27%	27%	28%	29%	29%	30%	31%
Other Income	7	6	6	6	13	37	31	32
Interest	25	12	7	12	12	8	10	11
Depreciation	28	36	38	54	65	77	89	95
Profit before tax	96	117	192	280	324	360	402	436
Tax %	17%	26%	26%	25%	25%	26%	25%	—
Net Profit	80	86	142	209	243	268	302	327
EPS in Rs	893.18	965.92	15.90	23.32	25.79	28.39	31.97	34.71
Dividend Payout %	0%	0%	0%	6%	16%	11%	13%	—

HAPPYFORGE balance sheet (₹ Cr.)
Category	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	9	9	9	18	18	19	19	19
Reserves	470	550	636	770	970	1,594	1,831	2,109
Borrowings	156	105	150	240	219	143	227	330
Other Liabilities	85	100	79	102	119	130	138	175
Total Liabilities	719	763	874	1,130	1,326	1,886	2,215	2,633
Fixed Assets	291	275	415	456	678	744	907	1,108
CWIP	46	109	40	212	75	127	123	237
Investments	30	0	0	0	0	0	80	238
Other Assets	352	378	419	461	573	1,015	1,105	1,050
Total Assets	719	763	874	1,130	1,326	1,886	2,215	2,633

HAPPYFORGE cash flows (₹ Cr.)
Category	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity	136	169	50	80	209	189	292	445
Cash from Investing Activity	-162	-119	-59	-166	-172	-470	-319	-498
Cash from Financing Activity	27	-50	10	83	-37	281	39	66
Net Cash Flow	1	-0	1	-3	-0	1	12	13
Free Cash Flow	1	67	-42	-111	35	-4	12	-16
CFO/OP	91%	136%	53%	53%	80%	71%	92%	114%

HAPPYFORGE shareholding pattern (%)
Category	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Promoters	78.60%	78.57%	78.54%	78.52%	78.50%	78.48%	78.46%	78.44%
FIIs	2.28%	2.19%	2.17%	2.03%	1.84%	1.73%	1.88%	2.37%
DIIs	17.06%	17.07%	16.98%	17.02%	16.73%	16.48%	15.54%	14.93%
Public	2.05%	2.18%	2.31%	2.45%	2.94%	3.30%	4.12%	4.26%
No. of Shareholders	64,982	64,670	63,790	61,075	61,484	57,815	64,341	65,550

HAPPYFORGE key ratios
Category	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	82	90	103	94	94	96	110	93
Inventory Days	106	111	176	173	112	137	143	134
Days Payable	30	53	55	42	32	34	28	34
Cash Conversion Cycle	158	148	225	226	175	199	226	193
Working Capital Days	106	60	82	76	71	102	98	77
ROCE %	32%	19%	18%	22%	26%	23%	19%	18%

HAPPYFORGEUpdated 13 Oct 2026, 17:37

Happy Forgings Limited

HAPPYFORGEUpdated 13 Oct 2026, 17:37

Market Cap

₹18,254Cr.

Current Price

₹1,937

High / Low

₹2,484/889

Stock P/E

55.8

ROE15.0%

ROCE18.0%

Book Value₹226

Face Value₹2.00

Dividend Yield0.21%

About

Incorporated in July 1979, Happy Forgings Limited is an Indian manufacturer specializing in designing and manufacturing heavy forgings and high-precision machined components.[1]

Quarterly results

Last reported quarters₹ Cr.

Quarter	Sales	Interest	Expenses	Other Income	Depreciation	Profit Before Tax	Tax	Net Profit	EPS (₹)
Jun 2023	330	3	230	3	15	85	25	64	7.16
Sep 2023	343	4	249	1	16	74	25	55	6.17
Dec 2023	342	4	247	3	17	78	25	58	6.15
Mar 2024	343	1	246	7	16	87	25	66	6.98
Jun 2024	341	1	244	8	18	86	26	64	6.78
Sep 2024	361	2	256	13	20	97	27	71	7.58
Dec 2024	354	2	253	7	19	87	26	65	6.85
Mar 2025	352	2	250	10	20	90	24	68	7.19
Jun 2025	354	2	253	10	21	89	26	66	6.97
Sep 2025	377	2	262	6	22	99	26	73	7.79
Dec 2025	391	2	271	8	22	104	24	79	8.37
Mar 2026	424	4	291	6	25	111	25	84	8.86
Jun 2026	449	3	309	11	26	123	25	91	9.69

Profit & loss

Annual statement₹ Cr.

Year	Sales	Interest	Expenses	Other Income	Depreciation	Profit Before Tax	Tax	Net Profit	EPS (₹)
Mar 2018	550	22	413	4	23	96	39	58	738.38
Mar 2019	750	23	545	1	29	155	38	95	1066.26
Mar 2020	558	25	416	7	28	96	17	80	893.18
Mar 2021	585	12	426	6	36	117	26	86	965.92
Mar 2022	860	7	629	6	38	192	26	142	15.9
Mar 2023	1197	12	856	6	54	280	25	209	23.32
Mar 2024	1358	12	971	13	65	324	25	243	25.79
Mar 2025	1409	8	1002	37	77	360	26	268	28.39
Mar 2026	1546	10	1076	31	89	402	25	302	31.97
TTM	1642	11	1132	32	95	436	—	327	34.71

Shareholding pattern

As of Sep 2026%

Holder	Share
Promoters	78.44%
FIIs	2.37%
DIIs	14.93%
Public	4.26%

Shareholding trend

Ownership over time%

Quarter	Promoters	FIIs	DIIs	Public
Dec 2023	78.6%	2.06%	5.83%	13.5%
Mar 2024	78.6%	1.12%	16.92%	3.35%
Jun 2024	78.6%	2.24%	16.69%	2.47%
Sep 2024	78.6%	2.27%	17.14%	1.98%
Dec 2024	78.6%	2.28%	17.06%	2.05%
Mar 2025	78.57%	2.19%	17.07%	2.18%
Jun 2025	78.54%	2.17%	16.98%	2.31%
Sep 2025	78.52%	2.03%	17.02%	2.45%
Dec 2025	78.5%	1.84%	16.73%	2.94%
Mar 2026	78.48%	1.73%	16.48%	3.3%
Jun 2026	78.46%	1.88%	15.54%	4.12%
Sep 2026	78.44%	2.37%	14.93%	4.26%

Balance sheet

Assets & liabilities₹ Cr.

Period	Equity Capital	Reserves	Borrowings	Other Liabilities	Total Liabilities	Fixed Assets	CWIP	Investments	Other Assets	Total Assets
Mar 2018	8	176	301	92	576	285	9	0	282	576
Mar 2019	9	470	156	85	719	291	46	30	352	719
Mar 2020	9	550	105	100	763	275	109	0	378	763
Mar 2021	9	636	150	79	874	415	40	0	419	874
Mar 2022	18	770	240	102	1130	456	212	0	461	1130
Mar 2023	18	970	219	119	1326	678	75	0	573	1326
Mar 2024	19	1594	143	130	1886	744	127	0	1015	1886
Mar 2025	19	1831	227	138	2215	907	123	80	1105	2215
Mar 2026	19	2109	330	175	2633	1108	237	238	1050	2633

Cash flows

Operating, investing & financing₹ Cr.

Period	Operating	Investing	Financing	Net cash flow
Mar 2018	—	—	—	—
Mar 2019	136	-162	27	1
Mar 2020	169	-119	-50	0
Mar 2021	50	-59	10	1
Mar 2022	80	-166	83	-3
Mar 2023	209	-172	-37	0
Mar 2024	189	-470	281	1
Mar 2025	292	-319	39	12
Mar 2026	445	-498	66	13

Key ratios

Historical financial ratios

Category	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	114	82	90	103	94	94	96	110	93
Inventory Days	111	106	111	176	173	112	137	143	134
Days Payable	48	30	53	55	42	32	34	28	34
Cash Conversion Cycle	177	158	148	225	226	175	199	226	193
Working Capital Days	123	106	60	82	76	71	102	98	77
ROCE %	—	32%	19%	18%	22%	26%	23%	19%	18%

Frequently asked questions

Quick answers about this company's financials on Fincrux

What is the market cap of HAPPY FORGINGS LIMITED (HAPPYFORGE)?

The reported market capitalisation for HAPPY FORGINGS LIMITED (HAPPYFORGE) is ₹18,254Cr. on Fincrux. Figures may update with market data and filings.

What is the current share price of HAPPYFORGE?

The current price shown for HAPPY FORGINGS LIMITED (HAPPYFORGE) on Fincrux is ₹1,937 with a 52-week high/low of ₹2,484/889.

What is the P/E ratio of HAPPY FORGINGS LIMITED (HAPPYFORGE)?

The stock P/E for HAPPY FORGINGS LIMITED (HAPPYFORGE) is 55.8 on Fincrux, with ROE at 15.0% and ROCE at 18.0%.

What were HAPPYFORGE latest quarterly results?

For Jun 2026, HAPPY FORGINGS LIMITED (HAPPYFORGE) reported sales ₹449 Cr and net profit ₹91 Cr (figures in ₹ crore unless noted).

What are HAPPYFORGE annual sales and net profit?

For TTM, HAPPY FORGINGS LIMITED (HAPPYFORGE) shows sales of ₹1,642 Cr and net profit of ₹327 Cr on the Fincrux profit & loss statement.

Who owns HAPPY FORGINGS LIMITED (HAPPYFORGE)?

Latest shareholding for HAPPY FORGINGS LIMITED (HAPPYFORGE) on Fincrux: Promoters 78.44% (Sep 2026), FIIs 2.37% (Sep 2026), DIIs 14.93% (Sep 2026), Public 4.26% (Sep 2026), No. of Shareholders 65,550% (Sep 2026).

Where can I find HAPPY FORGINGS LIMITED (HAPPYFORGE) financials?

HAPPY FORGINGS LIMITED (HAPPYFORGE) financials on Fincrux include quarterly results, profit and loss, cash flow, balance sheet, key ratios, and shareholding patterns for NSE/BSE research.

Does Fincrux show HAPPYFORGE balance sheet and cash flow?

Yes. The HAPPY FORGINGS LIMITED (HAPPYFORGE) page on Fincrux includes balance sheet, cash flow statements, historical ratios, and ownership trends alongside quarterly and annual results.

Figures in ₹ crore unless noted. Data sourced for research and may lag filings.

Last updated 13 October 2026 at 17:37