Happy Forgings financials

Latest results Q1 FY27 · Apr–Jun 2026
Revenue
₹449cr+27.0% on Q1 FY26
Net profit
₹91.5cr+39.2% on Q1 FY26
EBITDA margin
31.3%+2.8 pts on Q1 FY26
EPS
₹9.70+39.2% on Q1 FY26

Quarterly results

Every quarter ›
₹ croreQ1 FY27Q1 FY26Change
Revenue449354+27.0%
EBITDA141101+39.3%
EBITDA margin31.3%28.6%+2.8 pts
Profit before tax12388.6+38.3%
Net profit91.565.7+39.2%
EPS₹9.70₹6.97+39.2%

Over time

Q1 FY27 · Apr–Jun 2026latest
Revenue₹449 crNet profit₹91.5 crNet margin20.4%

Amounts on the left scale in ₹ crore; per cent on the right, dashed. L = lakh crore, K = thousand crore. Touch the chart to read any period.

Key numbersby financial year

₹ crore except per share
Tap a line for its trendCurrentlast 12MFY26Mar 2026FY25Mar 2025FY24Mar 2024
16,700———
26326392.50.6
330330228143
16,767———
1,6421,5461,4091,358
—+9.8%+3.7%—
510471407388
31.1%30.4%28.9%28.5%
416382330323
327302267243
19.9%19.5%19.0%17.9%
₹34.70₹31.97₹28.34₹25.75
—+12.8%+10.1%—
—445292189
—−461−281−194
−16.6−16.611.5−5.1
Open the chart

From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.

HAPPYFORGE₹1,770.00

Happy Forgings Limited

· Capital Goods & Defence
₹ CrorePeersSTEELCASNELCASTSGILKALYANIFRGHILTONMcap ₹16,700 Cr
HighlightsEnterprise ValueMultiplesPer ShareAnnuals · FY-end closes
In ₹ Crore except Per Share
12 Months Ending
FY24
31/03/2024
FY25
31/03/2025
FY26
31/03/2026
Current/LTM
TTM · last close
Market Capitalization———16,700.0
- Cash, Equiv & ST Investments0.692.5262.7262.7
+ Total Debt143.0228.0329.6329.6
Enterprise Value———16,766.9
Revenue1,358.21,408.91,546.31,642.0
Growth %, YoY—+3.7+9.8—
EBITDA387.5406.7470.7510.4
Margin %28.5328.8730.4431.08
EBIT322.8329.6381.6415.7
Net Income243.0267.4301.6327.4
Margin %17.8918.9819.5119.94
EPS, Adj (current shares)25.7528.3431.9734.70
Growth %, YoY—+10.1+12.8—
Cash from Operations189.0292.3444.7—
Capital Expenditures-194.1-280.9-461.3—
Free Cash Flow-5.111.5-16.6-16.6
Market Cap/EV/multiples pair each (split/bonus-adjusted) FY-end close with the latest filed share count; Current column uses the last close. Market Capitalization is a market-level figure — identical across Consolidated/Standalone (the accounting rows below differ). No consensus estimates → no Est columns. Click any row to chart it.
« ‹ › »Latest: FY26 · ConsolidatedFA Financial Analysis · alphave
Data & compliance. Descriptive financial information from official NSE/BSE filings — for information and education only, not investment advice, a recommendation, or a valuation. Standalone = parent entity; consolidated includes subsidiaries. Historical multiples pair each fiscal year's filed figures with that FY-end market close; the Current column uses the last close with the latest filed annuals. Figures are cross-verified via accounting identities and NSE×BSE agreement — XBRL cross-verified ✓ 95%.

Happy Forgings financials and key ratios

Prices at the 30 October 2026 close · figures from the company's filings with NSE

Happy Forgings (NSE: HAPPYFORGE) had a market capitalisation of ₹16,499 crore at the 30 October 2026 close (₹1,748.20 a share), a PE ratio of 50.4 on the last four quarters' profit and a price-to-book ratio of 7.75. In FY26 its consolidated net profit was ₹302 crore on revenue of ₹1,546 crore; in Q1 FY27 (April–June 2026) it was ₹91.5 crore, up 39.2% year on year. Its debt-to-equity ratio was 0.15 on 31 March 2026. Promoters held 78.44% of the shares on 30 September 2026.

Share price used
₹1,748.20 · 30 October 2026 close
Latest balance sheet
31 March 2026
Shareholding pattern
30 September 2026

Happy Forgings at a glance · consolidated

Market cap
₹16,499 Crat ₹1,748.20 · 30 Oct close
PE ratio (last 4 quarters)
50.454.7 on FY26 profit
Price to book (PB)
7.75book value ₹225.49 a share
ROE (FY26)
15.2%−0.3 pts vs FY25ROCE 18.8%
Debt to equity
0.15net debt ₹39.7 Cr
Promoter holding
78.44%unchanged vs 30 Jun 202630 September 2026
Dividend yield
0.23%₹4 a share in 12 months
Net worth
₹2,128 Cr+15.1% vs 31 Mar 202531 March 2026
Free cash flow (FY26)
−₹16.6 Cr

Questions

What is the Happy Forgings PE ratio today?

Happy Forgings' PE ratio is 50.4 at the 30 October 2026 close (₹1,748.20 a share): a market capitalisation of ₹16,499 crore divided by consolidated net profit of ₹327 crore over the last four quarters (Q2 FY26 to Q1 FY27). On FY26 net profit (₹302 crore) it is 54.7.

What is the Happy Forgings debt to equity ratio?

Happy Forgings' debt-to-equity ratio was 0.15 on 31 March 2026: borrowings of ₹330 crore against total equity of ₹2,128 crore. A year earlier, on 31 March 2025, it was 0.12.

What is the Happy Forgings net worth?

Happy Forgings' net worth — shareholders' equity in its consolidated balance sheet — was ₹2,128 crore on 31 March 2026, up 15.1% from ₹1,850 crore a year earlier. Its market value is a different figure: a market capitalisation of ₹16,499 crore at the 30 October 2026 close.

What is the Happy Forgings PB ratio (price to book value)?

Happy Forgings' price-to-book (PB) ratio is 7.75 at the 30 October 2026 close: a market capitalisation of ₹16,499 crore divided by shareholders' equity (book value) of ₹2,128 crore on 31 March 2026. That is a book value of ₹225.49 per share against a share price of ₹1,748.20.

What is the Happy Forgings ROE and ROCE?

In FY26, Happy Forgings' return on equity (ROE) was 15.2% and its return on capital employed (ROCE) was 18.8%. ROE is net profit divided by average shareholders' equity (the start and end of the year); ROCE is operating profit (EBIT) divided by average capital employed (total assets less current liabilities). In FY25, ROE was 15.5% and ROCE 18.7%.

What is the Happy Forgings book value per share?

Happy Forgings' book value per share was ₹225.49 on 31 March 2026: shareholders' equity of ₹2,128 crore divided by the 9.44 crore shares in issue, up 14.9% from ₹196.25 a year earlier. The share price at the 30 October 2026 close was ₹1,748.20.

What is the Happy Forgings market cap?

Happy Forgings' market capitalisation was ₹16,499 crore at the 30 October 2026 close: 9.44 crore shares at ₹1,748.20 each.

What is the Happy Forgings EPS?

Happy Forgings' basic earnings per share (EPS) were ₹31.99 in FY26, against ₹28.39 in FY25. Over the last four quarters (Q2 FY26 to Q1 FY27) they add up to ₹34.72.

What is the Happy Forgings dividend in 2026 and its record date?

In 2026, Happy Forgings has declared one dividend: ₹4 with record date 20 July 2026.

Is Happy Forgings debt free?

No. Happy Forgings had borrowings of ₹330 crore on 31 March 2026 (consolidated balance sheet), a debt-to-equity ratio of 0.15. Its cash and current investments were ₹290 crore, so its net debt was ₹39.7 crore.

What is the Happy Forgings dividend yield?

Happy Forgings' dividend yield is 0.23% at the 30 October 2026 close: dividends of ₹4 a share that went ex-dividend in the 12 months before that day, divided by the share price of ₹1,748.20. They were ₹4 on 20 July 2026.

What is the Happy Forgings promoter holding?

Promoters held 78.44% of Happy Forgings on 30 September 2026, down 0.02 percentage points from 78.46% the previous quarter and down 0.08 percentage points from 78.52% a year earlier, according to the shareholding pattern filed with NSE.

What is the Happy Forgings shareholding pattern?

On 30 September 2026, Happy Forgings' shares were held by promoters 78.44%, foreign portfolio investors (FII/FPI) 2.37%, domestic institutions (DII) 14.93% (including mutual funds at 13.37%) and retail and other non-institutional investors 4.26%. Over the year, FII holding was up 0.35 percentage points from 2.02% and DII holding was down 2.08 percentage points from 17.01%.

How does Happy Forgings compare with its peers?

On FY26 consolidated figures, against Steelcast, Nelcast and Synergy Green Industries: Happy Forgings' operating margin of 24.7% is the highest of the four (Steelcast 23.9%, Nelcast 6.3%, Synergy Green Industries 5.2%; peer average 11.8%); its return on equity of 15.2% is the second highest of the four (Steelcast 24.1%, Nelcast 8.4%, Synergy Green Industries 4.2%; peer average 12.2%).

How does the Happy Forgings PE ratio compare with its peers?

At the 30 October 2026 closing prices, on FY26 net profit, Happy Forgings' PE ratio is 54.7, the second highest of the four: Steelcast 40.6, Nelcast 23.8 and Synergy Green Industries 185.8, a peer average of 83.4. Each is the company's market capitalisation at that price divided by its FY26 net profit.

What is the Happy Forgings free cash flow?

In FY26, Happy Forgings generated ₹445 crore of cash from operations and spent ₹461 crore on capital expenditure (property, plant, equipment and intangibles), leaving free cash flow of −₹16.6 crore. In FY25 it was ₹11.5 crore.

What are the Happy Forgings latest quarterly results?

Happy Forgings' latest results are for Q1 FY27 (April–June 2026), filed on 4 August 2026: consolidated net profit ₹91.5 crore, up 39.2% from ₹65.7 crore in Q1 FY26; revenue from operations ₹449 crore, up 27.0% year on year.

What is the Happy Forgings revenue and profit in FY26?

In FY26 (April 2025–March 2026), Happy Forgings' consolidated net profit was ₹302 crore, up 12.8% from ₹267 crore in FY25, on revenue from operations of ₹1,546 crore (up 9.8%).

When are the Happy Forgings next results?

Happy Forgings will announce its Q2 FY27 results (July–September 2026) on Thursday, 5 November 2026, the date of the board meeting it has notified to the exchanges.

Happy Forgings vs Steelcast: how do they compare?

In FY26, Happy Forgings earned net profit of ₹302 crore on revenue of ₹1,546 crore, against ₹86.9 crore on ₹423 crore for Steelcast. Happy Forgings' operating margin was 24.7% (Steelcast 23.9%) and its return on equity 15.2% (Steelcast 24.1%). At the 30 October 2026 close, Happy Forgings' market capitalisation was ₹16,499 crore against ₹3,527 crore for Steelcast, and its PE ratio on FY26 profit 54.7 against 40.6.

Where do these Happy Forgings figures come from?

From Happy Forgings' own consolidated results, balance sheets and shareholding patterns filed with NSE, and NSE prices (the latest used here: the 30 October 2026 close). Ratios are calculated by Alphave from those filings as each answer describes.

Consolidated figures from the company's filings with NSE; prices are NSE closing prices.