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About the company
Happy Forgings Limited is an India-based company, which is a manufacturer of heavy forged and precision-machined components. The Company is engaged in the manufacturing of auto components and engineering parts. The Company’s products include crankshafts, differential cases, front axle components, railway parts, suspension products, transmission parts, oil and gas, and windmill application products. Its windmill application products consist of three critical components: the planet carrier, pinion shaft, and housing. Its railway components offer a range of parts, which include camshafts, connecting rods, piston pins, and spacers. The Company primarily caters to domestic and global original equipment manufacturers (OEMs) manufacturing commercial vehicles in the automotive sector. It also caters to manufacturers of farm equipment, off-highway vehicles and manufacturers of industrial equipment and machinery for the oil and gas, power generation, railways, and wind turbine industries.
- Revenue in INR (TTM)14.74bn
- Net income in INR2.86bn
- Incorporated1979
- Employees3.17k
- LocationHappy Forgings LtdB-29-2254/1, Kanganwal Road, P. O JugianaLUDHIANA 141120IndiaIND
- Phone+91 1 615000551
- Websitehttps://happyforgingsltd.com
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Peer analysis
Key Information
- Key Information
- Stock Performance
- Per Share Data
- Efficiency
- Management Effectiveness
- Profitability
- Financial Strength
- Growth Rates
| Company | Revenue (TTM) | Net income (TTM) | Market cap | Employees | Price/earnings (TTM) | Price/book value (MRQ) | Price/cash flow (TTM) | Price/sales (TTM) | EPS (excl. extraordinary items, TTM) | EPS (incl. extraordinary items, TTM) | Revenue per share (TTM) | Book value per share (MRQ) | Asset turnover (TTM) | Inventory turnover (TTM) | Receivables turnover (TTM) | Revenues per employee (TTM) | Return on avg assets (TTM) | Return on avg assets (5 yr avg) | Return on investment (TTM) | Return on investment (5 yr avg) | Gross margin (TTM) | Gross margin (5 yr avg) | Net profit margin (TTM) | Net Profit margin (5 yr avg) | Quick ratio (MRQ) | Interest coverage (TTM) | Total debt to capital (MRQ) | Payout ratio (5 yr avg) | Revenue (YOY change %) | Revenue (5 yr growth rate) | Net income (YOY change %) | Net income (5 yr growth rate) | Capital expenditure (5 yr growth rate) | Dividend (5 yr growth rate) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dynamatic Technologies Ltd | 15.69bn | 359.40m | 64.16bn | 869.00 | 178.55 | -- | 58.08 | 4.09 | 52.91 | 52.91 | 2,309.59 | -- | -- | -- | -- | 18,053,510.00 | -- | 3.17 | -- | 5.30 | 50.44 | 45.17 | 2.29 | 3.71 | -- | 1.70 | -- | -- | -1.79 | 2.68 | -64.67 | -10.16 | 2.77 | -- |
| Pricol Ltd | 37.11bn | 2.13bn | 77.21bn | 1.83k | 36.35 | -- | 23.56 | 2.08 | 17.42 | 17.42 | 304.26 | -- | -- | -- | -- | 20,334,010.00 | -- | 7.32 | -- | 11.69 | 30.73 | 29.64 | 5.73 | 5.05 | -- | 11.23 | -- | 0.00 | 18.49 | 16.78 | 18.79 | -- | 23.39 | -- |
| Ask Automotive Ltd | 38.79bn | 2.83bn | 85.19bn | 1.57k | 30.07 | -- | 21.77 | 2.20 | 14.37 | 14.37 | 196.68 | -- | -- | -- | -- | 24,690,520.00 | -- | -- | -- | -- | 34.58 | -- | 7.31 | -- | -- | 10.46 | -- | -- | 20.25 | -- | 42.50 | -- | -- | -- |
| Varroc Engineering Ltd | 86.22bn | 1.76bn | 85.22bn | 5.32k | 48.30 | -- | 16.71 | 0.9884 | 11.55 | 11.55 | 563.71 | -- | -- | -- | -- | 16,196,900.00 | -- | 1.69 | -- | 3.21 | 35.89 | 33.28 | 2.12 | 2.02 | -- | 3.83 | -- | 2.39 | 7.97 | -6.02 | -88.81 | 217.09 | -26.93 | -19.73 |
| Banco Products (India) Ltd | 35.41bn | 4.33bn | 94.68bn | 427.00 | 21.87 | 5.79 | 17.61 | 2.67 | 30.26 | 30.26 | 247.51 | 114.27 | 1.31 | 1.61 | 4.87 | 82,927,900.00 | 15.97 | 13.49 | 23.79 | 19.66 | 46.10 | 42.19 | 12.22 | 9.87 | 1.05 | 18.60 | 0.3084 | 52.80 | 16.04 | 17.70 | 44.37 | 38.61 | 23.20 | 1.92 |
| Lumax AutoTechnologies Ltd | 42.21bn | 2.11bn | 110.72bn | 1.67k | 52.35 | 10.49 | 26.56 | 2.62 | 31.03 | 31.03 | 619.45 | 154.84 | 1.32 | 7.69 | 5.87 | 25,352,660.00 | 8.37 | 7.15 | 18.69 | 13.73 | 35.55 | 29.76 | 6.33 | 5.87 | 0.7704 | 4.56 | 0.4665 | 28.98 | 28.88 | 26.09 | 36.55 | 25.57 | 38.44 | 12.89 |
| Happy Forgings Ltd | 14.74bn | 2.86bn | 122.61bn | 3.17k | 42.91 | -- | 33.08 | 8.32 | 30.29 | 30.29 | 156.28 | -- | -- | -- | -- | 4,649,853.00 | -- | -- | -- | -- | 58.96 | -- | 19.38 | -- | -- | 38.96 | -- | -- | 3.73 | -- | 10.06 | -- | -- | -- |
| Shriram Pistons & Rings Ltd | 39.91bn | 5.43bn | 135.85bn | 3.86k | 25.01 | -- | 19.99 | 3.40 | 123.31 | 123.31 | 906.18 | -- | -- | -- | -- | 10,348,390.00 | -- | 12.77 | -- | 17.46 | 56.46 | 44.91 | 13.89 | 11.62 | -- | 18.44 | -- | 10.46 | 14.91 | 17.18 | 14.49 | 51.66 | 0.1958 | 27.23 |
| Jbm Auto Ltd | 58.82bn | 2.11bn | 137.13bn | 3.56k | 64.94 | -- | 34.19 | 2.33 | 8.93 | 8.93 | 249.07 | -- | -- | -- | -- | 16,512,640.00 | -- | 4.10 | -- | 8.92 | 31.25 | 26.01 | 3.85 | 3.79 | -- | 1.57 | -- | 10.15 | 9.24 | 22.96 | 12.91 | 23.88 | -0.6611 | 19.42 |
| Sansera Engineering Ltd | 32.81bn | 2.62bn | 139.94bn | 2.53k | 53.39 | -- | 30.41 | 4.27 | 42.12 | 42.12 | 527.59 | -- | -- | -- | -- | 12,947,230.00 | -- | 6.52 | -- | 9.56 | 58.39 | 50.59 | 8.02 | 6.79 | -- | 9.31 | -- | 7.63 | 7.30 | 15.67 | 15.83 | 21.79 | 28.06 | -- |
| Minda Corporation Ltd | 58.03bn | 2.88bn | 140.75bn | 3.39k | 49.53 | -- | 31.00 | 2.43 | 12.07 | 12.07 | 243.58 | -- | -- | -- | -- | 17,132,480.00 | -- | 6.82 | -- | 11.24 | 37.72 | 33.98 | 3.90 | 5.34 | -- | 3.49 | -- | 11.91 | 8.71 | 17.87 | 12.41 | 13.50 | 18.71 | 31.95 |
| Gabriel India Ltd | 45.30bn | 2.50bn | 142.15bn | 2.82k | 56.82 | -- | 40.70 | 3.14 | 17.42 | 17.42 | 315.56 | -- | -- | -- | -- | 16,076,980.00 | -- | 9.71 | -- | 15.69 | 26.33 | 22.36 | 5.52 | 4.88 | -- | 28.18 | -- | 27.37 | 19.42 | 16.79 | 37.05 | 23.66 | 18.19 | 29.31 |
| Belrise Industries Ltd | 92.31bn | 4.77bn | 166.15bn | 2.17k | 29.78 | -- | 20.04 | 1.80 | 6.27 | 6.27 | 120.96 | -- | -- | -- | -- | 42,576,660.00 | -- | -- | -- | -- | 19.13 | -- | 5.16 | -- | -- | 3.15 | -- | -- | 10.78 | -- | 14.33 | -- | -- | -- |
| CIE Automotive India Ltd | 91.23bn | 8.01bn | 173.20bn | 4.19k | 21.63 | -- | 15.13 | 1.90 | 21.11 | 21.31 | 240.41 | -- | -- | -- | -- | 21,774,290.00 | -- | 5.85 | -- | 8.60 | 48.60 | 38.99 | 8.78 | 7.11 | -- | 28.77 | -- | -- | -3.41 | 2.54 | 2.84 | 18.32 | -1.82 | -- |
Data as of Feb 17 2026. Currency figures normalised to Happy Forgings Ltd's reporting currency: Indian Rupee INR
11.87%Per cent of shares held by top holders
| Holder | Shares | % Held |
|---|---|---|
| SBI Funds Management Ltd.as of 31 Jan 2026 | 5.30m | 5.62% |
| Kotak Mahindra Asset Management Co. Ltd.as of 31 Jan 2026 | 2.13m | 2.26% |
| Aditya Birla Sun Life Amc Ltd. (Investment Management)as of 31 Jan 2026 | 1.00m | 1.06% |
| DSP Asset Managers Pvt. Ltd.as of 31 Jan 2026 | 711.69k | 0.75% |
| Axis Asset Management Co. Ltd.as of 31 Jan 2026 | 593.39k | 0.63% |
| HSBC Asset Management (India) Pvt Ltd.as of 31 Dec 2025 | 474.32k | 0.50% |
| Nippon Life India Asset Management Ltd. (Invt Mgmt)as of 31 Dec 2025 | 397.48k | 0.42% |
| Sundaram Asset Management Co. Ltd.as of 31 Jan 2026 | 388.09k | 0.41% |
| Morgan Stanley Investment Management Co.as of 30 Sep 2025 | 155.51k | 0.17% |
| BlackRock Fund Advisorsas of 05 Feb 2026 | 40.23k | 0.04% |
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Data from 31 Dec 2025 - 10 Feb 2026Source: FactSet Research Systems Inc.
