Happy Forgings Ltd (HAPPYFORGE) — shareholding pattern, promoter holding, financials and share price
About Happy Forgings Ltd (HAPPYFORGE)
Happy Forgings Ltd operates in the Castings & Forgings industry, within the Capital Goods sector. It trades on the NSE as HAPPYFORGE and on the BSE under scrip code 544057. Its ISIN is INE330T01021.
Incorporated in July 1979, Happy Forgings Limited is an Indian manufacturer specializing in designing and manufacturing heavy forgings and high-precision machined components. [1]
Happy Forgings Limited is an engineering-led manufacturer of heavy forgings and high-precision machined components serving commercial vehicles, farm equipment, passenger vehicles, off-highway and industrial OEMs, with integrated capabilities across forging, machining, heat treatment and metallurgical testing.
The company reported Q3FY26 revenue of INR391 crores and 9MFY26 revenue of INR1,122 crores with record quarterly EBITDA margin of 30.8% and PAT margin of 20.2%; margins benefited from product mix, operating leverage and a lagged pass-through of steel costs.
Listed peers in Castings & Forgings: Balu Forge Industries Ltd, Steelcast Ltd, Amic Forging Ltd, Nelcast Ltd, Synergy Green Industries Ltd, Investment & Precision Castings Ltd.
Valuation & Returns
10 Jul 2026At ₹1,584.35 a share on 10 Jul 2026, Happy Forgings Ltd (HAPPYFORGE) was valued at a price-to-earnings ratio of 49.57x against an industry P/E of 37x and a price-to-book of 7.03x on a book value of ₹225.49 per share as of Mar 2026. Solomo computes return on equity of 14.17% and return on capital employed of 16.78% from filed results. Earnings ratios use consolidated results for the twelve months Jun 2025 to Mar 2026.
- P/E
- 49.57x
- Industry P/E
- 37x
- P/B
- 7.03x
- EPS (TTM)
- ₹31.96
- Book value / share
- ₹225.49
- ROE
- 14.17%
- ROCE
- 16.78%
- ROA
- 11.46%
- Debt / equity
- 0.15x
- Dividend yield
- 0.19%
- EBITDA margin
- 32.43%
- 52-week range
- ₹870 – ₹1,596.55
Ratios are computed from filed results and the last recorded price. Not investment advice.
Financial Performance
Mar 2026In the year ended Mar 2026, Happy Forgings Ltd (HAPPYFORGE) reported revenue of ₹1,546 crore, net profit of ₹302 crore and earnings per share of ₹31.97. That compares with revenue of ₹1,409 crore and net profit of ₹267 crore in Mar 2025. Figures are consolidated, as filed with the exchanges.
In the quarter ended Mar 2026, revenue was ₹424 crore and net profit ₹84 crore (consolidated).
| Metric | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue (₹ cr) | 860 | 1,197 | 1,358 | 1,409 | 1,546 |
| Net profit (₹ cr) | 142 | 209 | 243 | 267 | 302 |
| EPS (₹) | 15.9 | 23.32 | 25.79 | 28.38 | 31.97 |
| Measure | 5Y | 3Y | 1Y |
|---|---|---|---|
| Sales growth | 21.46% | 8.92% | 9.76% |
| Profit growth | 28.40% | 13.06% | 12.78% |
| Stock price CAGR | - | - | 71% |
Ownership Summary
Jun 2026As of Jun 2026, promoters hold 78.46% of Happy Forgings Ltd (HAPPYFORGE) (down 0.02 pp QoQ), foreign institutional investors (FII) hold 1.88% and domestic institutional investors (DII) hold 15.54%. Market capitalisation was ₹14,953 crore on 10 Jul 2026. Shareholding is filed quarterly with BSE and NSE; Solomo carries every filing back to Dec 2023.
Largest disclosed public shareholders in Jun 2026: SBI Small Cap Fund 4.98%, Hsbc Mutual Fund - Hsbc Small Cap Fund 2.38%, Kotak Small Cap Fund 2.26%, Axis Mutual Fund Trustee LimitedA/C Mutual Fund A/C Axis Small Cap Fund 1.43%, IKIGAI EMERGING EQUITY FUND 1.2%. Only stakes above the 1% disclosure threshold are named in filings.
| Quarter | Promoter | Pledged | FII | DII | Public |
|---|---|---|---|---|---|
| Jun 2026 | 78.46% | - | 1.88% | 15.54% | 21.54% |
| Mar 2026 | 78.48% | - | 1.73% | 16.48% | 21.52% |
| Dec 2025 | 78.5% | - | 1.84% | 16.73% | 21.5% |
| Sep 2025 | 78.52% | - | 2.02% | 17.01% | 21.48% |
| Jun 2025 | 78.54% | - | 2.17% | 16.98% | 21.46% |
| Mar 2025 | 78.57% | - | 2.19% | 17.07% | 21.43% |
| Dec 2024 | 78.6% | - | 2.28% | 17.06% | 21.4% |
| Sep 2024 | 78.6% | - | 2.28% | 17.14% | 21.4% |