Happy Forgings Ltd: Intrinsic Value & Share Price Analysis

Last Updated: February 10, 2026, 10:33 pm

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Last Updated: January 7, 2026, 1:36 am

Below is a detailed analysis of the quarterly data for Happy Forgings Ltd based on the most recent figures (Sep 2025) and their trends compared to the previous period:

• For Sales, as of Sep 2025, the value is 377.00 Cr.. The value appears strong and on an upward trend. It has increased from 354.00 Cr. (Jun 2025) to 377.00 Cr., marking an increase of 23.00 Cr..
• For Expenses, as of Sep 2025, the value is 262.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 253.00 Cr. (Jun 2025) to 262.00 Cr., marking an increase of 9.00 Cr..
• For Operating Profit, as of Sep 2025, the value is 116.00 Cr.. The value appears strong and on an upward trend. It has increased from 101.00 Cr. (Jun 2025) to 116.00 Cr., marking an increase of 15.00 Cr..
• For OPM %, as of Sep 2025, the value is 31.00%. The value appears strong and on an upward trend. It has increased from 29.00% (Jun 2025) to 31.00%, marking an increase of 2.00%.
• For Other Income, as of Sep 2025, the value is 6.00 Cr.. The value appears to be declining and may need further review. It has decreased from 10.00 Cr. (Jun 2025) to 6.00 Cr., marking a decrease of 4.00 Cr..
• For Interest, as of Sep 2025, the value is 2.00 Cr.. The value remains steady. There is no change compared to the previous period (Jun 2025) which recorded 2.00 Cr..
• For Depreciation, as of Sep 2025, the value is 22.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 21.00 Cr. (Jun 2025) to 22.00 Cr., marking an increase of 1.00 Cr..
• For Profit before tax, as of Sep 2025, the value is 99.00 Cr.. The value appears strong and on an upward trend. It has increased from 89.00 Cr. (Jun 2025) to 99.00 Cr., marking an increase of 10.00 Cr..
• For Tax %, as of Sep 2025, the value is 26.00%. The value remains steady. There is no change compared to the previous period (Jun 2025) which recorded 26.00%.
• For Net Profit, as of Sep 2025, the value is 73.00 Cr.. The value appears strong and on an upward trend. It has increased from 66.00 Cr. (Jun 2025) to 73.00 Cr., marking an increase of 7.00 Cr..
• For EPS in Rs, as of Sep 2025, the value is 7.79. The value appears strong and on an upward trend. It has increased from 6.97 (Jun 2025) to 7.79, marking an increase of 0.82.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Last Updated: December 15, 2025, 3:35 am

Last Updated: December 4, 2025, 3:01 am

Below is a detailed analysis of the balance sheet data for Happy Forgings Ltd based on the most recent figures (Sep 2025) and their trends compared to the previous period:

• For Equity Capital, as of Sep 2025, the value is 19.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2025) which recorded 19.00 Cr..
• For Reserves, as of Sep 2025, the value is 1,941.00 Cr.. The value appears strong and on an upward trend. It has increased from 1,831.00 Cr. (Mar 2025) to 1,941.00 Cr., marking an increase of 110.00 Cr..
• For Borrowings, as of Sep 2025, the value is 193.00 Cr.. The value appears to be improving (decreasing). Additionally, since Reserves exceed Borrowings, this is considered a positive sign. It has decreased from 227.00 Cr. (Mar 2025) to 193.00 Cr., marking a decrease of 34.00 Cr..
• For Other Liabilities, as of Sep 2025, the value is 149.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 138.00 Cr. (Mar 2025) to 149.00 Cr., marking an increase of 11.00 Cr..
• For Total Liabilities, as of Sep 2025, the value is 2,301.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 2,215.00 Cr. (Mar 2025) to 2,301.00 Cr., marking an increase of 86.00 Cr..
• For Fixed Assets, as of Sep 2025, the value is 951.00 Cr.. The value appears strong and on an upward trend. It has increased from 907.00 Cr. (Mar 2025) to 951.00 Cr., marking an increase of 44.00 Cr..
• For CWIP, as of Sep 2025, the value is 226.00 Cr.. The value appears strong and on an upward trend. It has increased from 123.00 Cr. (Mar 2025) to 226.00 Cr., marking an increase of 103.00 Cr..
• For Investments, as of Sep 2025, the value is 86.00 Cr.. The value appears strong and on an upward trend. It has increased from 80.00 Cr. (Mar 2025) to 86.00 Cr., marking an increase of 6.00 Cr..
• For Other Assets, as of Sep 2025, the value is 1,038.00 Cr.. The value appears to be declining and may need further review. It has decreased from 1,105.00 Cr. (Mar 2025) to 1,038.00 Cr., marking a decrease of 67.00 Cr..
• For Total Assets, as of Sep 2025, the value is 2,301.00 Cr.. The value appears strong and on an upward trend. It has increased from 2,215.00 Cr. (Mar 2025) to 2,301.00 Cr., marking an increase of 86.00 Cr..

Notably, the Reserves (1,941.00 Cr.) exceed the Borrowings (193.00 Cr.), indicating a solid financial buffer.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

After reviewing the key financial ratios for Happy Forgings Ltd, here is a detailed analysis based on the latest available data and recent trends:

• For FaceValue, as of Mar 25, the value is 2.00. This value is within the healthy range. There is no change compared to the previous period (Mar 24) which recorded 2.00.
• For Basic EPS (Rs.), as of Mar 25, the value is 28.39. This value is within the healthy range. It has increased from 26.78 (Mar 24) to 28.39, marking an increase of 1.61.
• For Diluted EPS (Rs.), as of Mar 25, the value is 28.37. This value is within the healthy range. It has increased from 26.75 (Mar 24) to 28.37, marking an increase of 1.62.
• For Cash EPS (Rs.), as of Mar 25, the value is 36.55. This value is within the healthy range. It has increased from 32.66 (Mar 24) to 36.55, marking an increase of 3.89.
• For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 196.25. It has increased from 171.17 (Mar 24) to 196.25, marking an increase of 25.08.
• For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 196.25. It has increased from 171.17 (Mar 24) to 196.25, marking an increase of 25.08.
• For Revenue From Operations / Share (Rs.), as of Mar 25, the value is 149.50. It has increased from 144.18 (Mar 24) to 149.50, marking an increase of 5.32.
• For PBDIT / Share (Rs.), as of Mar 25, the value is 47.13. This value is within the healthy range. It has increased from 42.56 (Mar 24) to 47.13, marking an increase of 4.57.
• For PBIT / Share (Rs.), as of Mar 25, the value is 38.95. This value is within the healthy range. It has increased from 35.68 (Mar 24) to 38.95, marking an increase of 3.27.
• For PBT / Share (Rs.), as of Mar 25, the value is 38.15. This value is within the healthy range. It has increased from 34.43 (Mar 24) to 38.15, marking an increase of 3.72.
• For Net Profit / Share (Rs.), as of Mar 25, the value is 28.38. This value is within the healthy range. It has increased from 25.79 (Mar 24) to 28.38, marking an increase of 2.59.
• For NP After MI And SOA / Share (Rs.), as of Mar 25, the value is 28.38. This value is within the healthy range. It has increased from 25.79 (Mar 24) to 28.38, marking an increase of 2.59.
• For PBDIT Margin (%), as of Mar 25, the value is 31.52. This value is within the healthy range. It has increased from 29.51 (Mar 24) to 31.52, marking an increase of 2.01.
• For PBIT Margin (%), as of Mar 25, the value is 26.05. This value exceeds the healthy maximum of 20. It has increased from 24.75 (Mar 24) to 26.05, marking an increase of 1.30.
• For PBT Margin (%), as of Mar 25, the value is 25.52. This value is within the healthy range. It has increased from 23.88 (Mar 24) to 25.52, marking an increase of 1.64.
• For Net Profit Margin (%), as of Mar 25, the value is 18.98. This value exceeds the healthy maximum of 10. It has increased from 17.88 (Mar 24) to 18.98, marking an increase of 1.10.
• For NP After MI And SOA Margin (%), as of Mar 25, the value is 18.98. This value is within the healthy range. It has increased from 17.88 (Mar 24) to 18.98, marking an increase of 1.10.
• For Return on Networth / Equity (%), as of Mar 25, the value is 14.45. This value is below the healthy minimum of 15. It has decreased from 15.06 (Mar 24) to 14.45, marking a decrease of 0.61.
• For Return on Capital Employeed (%), as of Mar 25, the value is 19.43. This value is within the healthy range. It has decreased from 20.44 (Mar 24) to 19.43, marking a decrease of 1.01.
• For Return On Assets (%), as of Mar 25, the value is 12.07. This value is within the healthy range. It has decreased from 12.88 (Mar 24) to 12.07, marking a decrease of 0.81.
• For Long Term Debt / Equity (X), as of Mar 25, the value is 0.00. This value is below the healthy minimum of 0.2. There is no change compared to the previous period (Mar 24) which recorded 0.00.
• For Total Debt / Equity (X), as of Mar 25, the value is 0.12. This value is within the healthy range. It has increased from 0.08 (Mar 24) to 0.12, marking an increase of 0.04.
• For Asset Turnover Ratio (%), as of Mar 25, the value is 0.68. It has decreased from 0.84 (Mar 24) to 0.68, marking a decrease of 0.16.
• For Current Ratio (X), as of Mar 25, the value is 2.81. This value is within the healthy range. It has decreased from 3.07 (Mar 24) to 2.81, marking a decrease of 0.26.
• For Quick Ratio (X), as of Mar 25, the value is 2.10. This value exceeds the healthy maximum of 2. It has decreased from 2.14 (Mar 24) to 2.10, marking a decrease of 0.04.
• For Inventory Turnover Ratio (X), as of Mar 25, the value is 6.17. This value is within the healthy range. It has decreased from 6.90 (Mar 24) to 6.17, marking a decrease of 0.73.
• For Dividend Payout Ratio (NP) (%), as of Mar 25, the value is 14.09. This value is below the healthy minimum of 20. It has increased from 4.78 (Mar 24) to 14.09, marking an increase of 9.31.
• For Dividend Payout Ratio (CP) (%), as of Mar 25, the value is 10.93. This value is below the healthy minimum of 20. It has increased from 3.78 (Mar 24) to 10.93, marking an increase of 7.15.
• For Earning Retention Ratio (%), as of Mar 25, the value is 85.91. This value exceeds the healthy maximum of 70. It has decreased from 95.22 (Mar 24) to 85.91, marking a decrease of 9.31.
• For Cash Earning Retention Ratio (%), as of Mar 25, the value is 89.07. This value exceeds the healthy maximum of 70. It has decreased from 96.22 (Mar 24) to 89.07, marking a decrease of 7.15.
• For Interest Coverage Ratio (X), as of Mar 25, the value is 58.96. This value is within the healthy range. It has increased from 34.04 (Mar 24) to 58.96, marking an increase of 24.92.
• For Interest Coverage Ratio (Post Tax) (X), as of Mar 25, the value is 36.50. This value is within the healthy range. It has increased from 21.63 (Mar 24) to 36.50, marking an increase of 14.87.
• For Enterprise Value (Cr.), as of Mar 25, the value is 7,495.55. It has decreased from 8,392.35 (Mar 24) to 7,495.55, marking a decrease of 896.80.
• For EV / Net Operating Revenue (X), as of Mar 25, the value is 5.32. This value exceeds the healthy maximum of 3. It has decreased from 6.18 (Mar 24) to 5.32, marking a decrease of 0.86.
• For EV / EBITDA (X), as of Mar 25, the value is 16.88. This value exceeds the healthy maximum of 15. It has decreased from 20.93 (Mar 24) to 16.88, marking a decrease of 4.05.
• For MarketCap / Net Operating Revenue (X), as of Mar 25, the value is 5.26. This value exceeds the healthy maximum of 3. It has decreased from 6.16 (Mar 24) to 5.26, marking a decrease of 0.90.
• For Retention Ratios (%), as of Mar 25, the value is 85.90. This value exceeds the healthy maximum of 70. It has decreased from 95.21 (Mar 24) to 85.90, marking a decrease of 9.31.
• For Price / BV (X), as of Mar 25, the value is 4.00. This value exceeds the healthy maximum of 3. It has decreased from 5.19 (Mar 24) to 4.00, marking a decrease of 1.19.
• For Price / Net Operating Revenue (X), as of Mar 25, the value is 5.26. This value exceeds the healthy maximum of 3. It has decreased from 6.16 (Mar 24) to 5.26, marking a decrease of 0.90.
• For EarningsYield, as of Mar 25, the value is 0.03. This value is below the healthy minimum of 5. It has increased from 0.02 (Mar 24) to 0.03, marking an increase of 0.01.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

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About the Company - Qualitative Analysis