₹1,762
▼ -55.99 -3.08%
As of 23 Oct 2026 · delayed
NSE Listed
Happy Forgings Limited (HAPPYFORGE)
Volume: 1,21,108Avg Vol 1W: 62,809.2Avg Vol 1M: 92,778.952W Range:₹976₹2,470
Key Ratios
Checked 15h agoMarket Cap₹16,633 Cr
Current Price₹1,762
Previous Close₹1,817.99
High / Low (52w)₹2,470 / ₹976
Volume1,21,108
Avg Vol (1W)62,809.2
Avg Vol (1M)92,778.9
Stock P/E50.81
Book Value₹225.44
Dividend Yield23%
ROE14.17%
ROA12.44%
Revenue (TTM)₹1,577 Cr
Revenue Growth3.7%
Profit Margin19.94%
Total Debt₹0 Cr
Shares Outstanding9 Cr
Face Value₹2
EPS (TTM)₹34.68
P/B7.82
Debt / Equity0.14
50 DMA₹2,102.67
200 DMA₹1,553.56
Day change-3.08%
Price Chart
₹1,762▲ 76.35% · 1Y
2025-10-272026-10-23
20-day avg volume: 93K shares
Pros
- Pays a dividend yield of 23.0%.
- Company is almost debt-free.
Cons
- Stock trades at a high P/E of 51.
Quarterly Results
| Metric | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ₹361 Cr | ₹354 Cr | ₹352 Cr | ₹354 Cr | ₹377 Cr | ₹391 Cr | ₹424 Cr | ₹449 Cr |
| EBITDA | ₹99 Cr | ₹89 Cr | ₹92 Cr | ₹91 Cr | ₹100 Cr | ₹106 Cr | ₹115 Cr | ₹126 Cr |
| Net Profit | ₹71 Cr | ₹65 Cr | ₹68 Cr | ₹66 Cr | ₹73 Cr | ₹79 Cr | ₹84 Cr | ₹91 Cr |
| EPS | — | — | — | — | — | — | — | — |
Profit & Loss (Annual)
| Metric | Mar 2025 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ₹1,446 Cr | ₹352 Cr | ₹354 Cr | ₹377 Cr | ₹391 Cr | ₹1,577 Cr | ₹424 Cr | ₹449 Cr |
| EBITDA | ₹367 Cr | ₹92 Cr | ₹91 Cr | ₹101 Cr | ₹106 Cr | ₹412 Cr | ₹115 Cr | ₹126 Cr |
| Net Profit | ₹267 Cr | ₹68 Cr | ₹66 Cr | ₹73 Cr | ₹79 Cr | ₹302 Cr | ₹84 Cr | ₹91 Cr |
| EPS | 28.37 | — | — | — | — | 31.92 | — | — |
Balance Sheet
| Metric | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Total Assets | ₹763 Cr | ₹874 Cr | ₹1,130 Cr | ₹1,326 Cr | ₹1,886 Cr | ₹2,215 Cr | ₹2,633 Cr |
| Total Liabilities | ₹205 Cr | ₹229 Cr | ₹342 Cr | ₹338 Cr | ₹273 Cr | ₹366 Cr | ₹505 Cr |
| Equity | ₹558 Cr | ₹645 Cr | ₹788 Cr | ₹988 Cr | ₹1,612 Cr | ₹1,850 Cr | ₹2,128 Cr |
| Total Debt | ₹54 Cr | — | — | — | — | — | — |
Cash Flow
| Metric | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Operating | ₹94 Cr | ₹123 Cr | ₹273 Cr | ₹273 Cr | ₹376 Cr | ₹538 Cr |
| Investing | ₹-59 Cr | ₹-166 Cr | ₹-172 Cr | ₹-470 Cr | ₹-320 Cr | ₹-497 Cr |
| Financing | ₹0 Cr | ₹83 Cr | ₹-37 Cr | ₹281 Cr | ₹40 Cr | ₹65 Cr |
| Free Cash Flow | ₹94 Cr | ₹123 Cr | ₹273 Cr | ₹273 Cr | ₹376 Cr | ₹538 Cr |
Shareholding
Promoter 78.44% Institutions 17.3% Public 4.26%
Efficiency & Working Capital
ROCE16.8%
Interest Coverage39.4
Dividend Payout—
Debtor Days93 d
Inventory Days55 d
Payable Days14 d
Cash Conversion Cycle134 d
Working Capital Days148 d
Shareholding Details
As of 2026-09-30
Promoter78.4%
FII2.4%
DII14.9%
Institutions17.3%
Public4.3%
Promoter Pledge0%
No. of Shareholders65,550
Shareholding Pattern
Quarterly — figures in %. Latest 12 quarters.
| Period | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 78.6% | 78.6% | 78.6% | 78.6% | 78.6% | 78.6% | 78.5% | 78.5% | 78.5% | 78.5% | 78.5% | 78.4% |
| FIIs | 2.1% | 1.1% | 2.2% | 2.3% | 2.3% | 2.2% | 2.2% | 2% | 1.8% | 1.7% | 1.9% | 2.4% |
| DIIs | 5.8% | 16.9% | 16.7% | 17.1% | 17.1% | 17.1% | 17% | 17% | 16.7% | 16.5% | 15.5% | 14.9% |
| Public | 13.5% | 3.3% | 2.5% | 2% | 2% | 2.2% | 2.3% | 2.4% | 2.9% | 3.3% | 4.1% | 4.3% |
| Promoter Pledge | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| No. of Shareholders | 1,34,839 | 93,587 | 74,090 | 65,376 | 64,982 | 64,670 | 63,790 | 61,075 | 61,484 | 57,815 | 64,341 | 65,550 |
Returns History (ROE / ROCE / ROA)
| Period | ROE | ROCE | ROA | P/E |
|---|---|---|---|---|
| 202603 | — | — | — | — |
Major Shareholders (>1%)
| Name | Category | Stake | Shares |
|---|---|---|---|
| Paritosh Kumar | Shareholding of Promoter and Promoter Group | 40.3% | 3.80 Cr |
| Ashish Garg | Shareholding of Promoter and Promoter Group | 13.7% | 1.29 Cr |
| Ayush Capital And Financial Services Private Limited | Shareholding of Promoter and Promoter Group | 11.4% | 1.07 Cr |
| Paritosh Kumar | Shareholding of Promoter and Promoter Group | 9.5% | 89,49,900 |
| Sbi Small Cap Fund | Public Shareholding | 4.8% | 45,40,000 |
| Megha Garg | Shareholding of Promoter and Promoter Group | 2.6% | 24,19,900 |
| Hsbc Mutual Fund- Hsbc Small Cap Fund | Public Shareholding | 2.4% | 22,14,329 |
| Kotak Small Cap Fund | Public Shareholding | 2.3% | 21,27,228 |
| Axis Mutual Fund Trustee Ltd A/c Axis Mutual Fund A/c Axis Small Cap Fund | Public Shareholding | 1.4% | 13,45,806 |
| Ikigai Alternate Emerging Equity Fund | Public Shareholding | 1.1% | 10,17,040 |
| Paritosh Kumar Garg Huf | Shareholding of Promoter and Promoter Group | 0.7% | 6,85,255 |
| Ashish Garg & Sons (huf) | Shareholding of Promoter and Promoter Group | 0.3% | 2,54,200 |
| Sudesh Kumari Agarwal | Shareholding of Promoter and Promoter Group | 0% | 100 |
| Rashmi Garg | Shareholding of Promoter and Promoter Group | 0% | 86 |
Board of Directors
| Name | Designation | Year |
|---|---|---|
| Paritosh Kumar Garg | Chairman / Executive Director / M D / Promoter | 2026 |
| ASHISH GARG | ED / MD / Promoter | 2026 |
| Megha Garg | WTD & Executive Director | 2026 |
| Atul B Lall | Independent Non Exe. Director | 2026 |
| Ravindra Pisharody | Independent Non Exe. Director | 2026 |
| Rajeswari Karthigeyan | Independent Non Exe. Director | 2026 |
| Bindu Garg | Company Sec. & Compli. Officer | 2026 |
Segments — Product
| Segment | Revenue | Share |
|---|---|---|
| Forgings | ₹0 Cr | — |
Segments — Geography
| Region | Revenue | Share |
|---|---|---|
| Within India | ₹1,203 Cr | 84.5% |
| Outside India | ₹220 Cr | 15.5% |
Capital Structure (₹ Cr)
| Year | Face Value | Authorised | Issued | Paid-up |
|---|---|---|---|---|
| 2026 | ₹2 | 30 | 19 | 19 |
Corporate Actions
| Type | Date | Value | Remark |
|---|---|---|---|
| forthcoming | 2026-08-04 | Board Meetings | — |
| forthcoming | 2026-07-20 | Dividend (4/- per share) | Final |
| dividend | 2026-07-20 | ₹4 (200%) | Final |
| dividend | 2025-07-22 | ₹3 (150%) | Final |
| forthcoming | — | Book Closure | AGM & 200% Final Dividend |
Related-Party Transactions (₹ Cr)
| Year | Subsidiaries | Associates | JV | KMP | Others | Total |
|---|---|---|---|---|---|---|
| 2026 | 1 | 0 | 0 | 19 | 15 | 35 |
| 2026 | 1 | 0 | 0 | 0 | 0 | 1 |
| 2026 | 0 | 0 | 0 | 0 | 0 | 0 |
Insider / Designated-Person Trades
32 recent disclosure(s)
RAJAN BHAGATAcquisition · 273
RAJAN BHAGATDisposal · 271
RAJAN BHAGATDisposal · 5
RAJAN BHAGATDisposal · 270
NARINDER SINGHDisposal · 24
NARINDER SINGHDisposal · 2,500
Substantial Acquisitions (SAST)
1 disclosure(s)
Market24/01/2025 · 38,82,990
Company Information
Incorporated1979
ChairmanParitosh Kumar Garg
AuditorS R Batliboi & Co LLP
Investor Email[email protected]
📍 B-XXIX 2254/1 Kanganwal Rd P O, Jugiana, Ludhiana, Punjab, 141120
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