profit from every ₹100 of sales.
₹0₹100
Happy Forgings
₹1,960.95+4.21% today
+83.0% in 1 year
1-year low ₹1,020.451-year high ₹2,420.15
Trading in the middle of its range for the past year.
The essentials
Four questions every investor asks, answered in one line each.
more sales each year, on average, 2023 to 2026.
0%20% a year
You pay ₹61.37 for every ₹1 of profit it makes in a year.
CheapExpensive
of earnings would pay off all its debt.
No debt5 years
Money in, money out
What Happy Forgings sold, what it kept, and what it did with the cash.
Sales went from ₹10.7 billion in 2023 to ₹15.5 billion in 2026, with ₹3.02 billion of profit last year.
SalesProfit
Happy Forgings vs. similar companies
Happy Forgings grows the fastest of these 5 and is priced in the middle for its profits.
| Company | Profit from ₹100 of sales | Sales growth a year | Price per ₹1 of profit |
|---|---|---|---|
| Happy Forgings | 61.4× · Very expensive | ||
 China International Marine Containers (Group) | 220.3× · Very expensive | ||
 Commercial Metals | 10.4× · Cheap | ||
 Aurubis | 11.2× · Cheap | ||
 Sinomach Heavy Equipment Group CO.,LTD | 91.5× · Very expensive |
AI analysis
An AI analyst reads Happy Forgings's last five years, its segments, earnings, insiders and peers, and writes the bull case, the bear case and what the price expects.
Run the AI analysisFull statementsIncome, balance sheet and cash flow, year by year
Income statement
| In millions of INR | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|
| 10,735 | 12,431 | 14,089 | 15,463 | |
| 4,557 | 5,654 | 8,172 | 9,145 | |
| 2,909 | 3,231 | 3,296 | 3,816 | |
| 3,461 | 4,001 | 4,441 | 5,015 | |
| 2,087 | 2,430 | 2,674 | 3,016 | |
| 22.15 | 25.79 | 28.37 | – | |
| 42.4% | 45.5% | 58.0% | 59.1% | |
| 27.1% | 26.0% | 23.4% | 24.7% | |
| 19.4% | 19.5% | 19.0% | 19.5% |
Balance sheet
| In millions of INR | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|
| Total assets | 13,262 | 18,860 | 22,152 | 26,328 |
| Cash | 0 | 6 | 129 | 257 |
| Total debt | 2,185 | 1,433 | 2,280 | 3,296 |
| Total liabilities | 3,379 | 2,735 | 3,657 | 5,047 |
| 9,883 | 16,125 | 18,495 | 21,281 | |
| 94 | 94 | 94 | – | |
| 19.1% | 15.1% | 14.0% | 13.3% | |
| 21.1% | 15.1% | 14.5% | 14.2% |
Cash flow
| In millions of INR | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|
| 2,095 | 1,894 | 2,923 | 4,447 | |
| 1,746 | 1,941 | 2,809 | 4,613 | |
| 349 | -47 | 115 | -166 | |
| Dividends paid | – | 116 | 377 | 283 |
| – | – | – | – | |
| 0 | 57 | 51 | 25 |
Valuation
- 61.4×
- –
- –
- 6.0×
- 12.0×
- –
- 37.5×
- -0.1%
- 1.6%
- 0.2%
Profitability
- 59.1%
- 24.7%
- 19.5%
- –
- 12.6%
- 14.6%
- –
- –
- –
- –
Growth
- +12.9%
- –
- –
- –
- +0.0%
Financial health
- 0.6×
- 0.15
- –
- 39.4×
- 2.35
- –
- –
How it ranks in Industrials
Each dot is where the company stands among every company over $300M in the sector. Further right is better.
Top 24%of 978
Top 7%of 985
Bottom 8%of 866
Top 24%of 984
Bottom 18%of 987
0.2%of the share price, paid each year
On $1,000 invested$2a year at today's yield, before tax
–per share
Raised–not every year
How safe it looks
9.4% of its profit
Room to growStretchedMore than it earnsNews
Forget happy hour. ‘Money parties’ are having a moment.MarketWatch · Nov 11, 2026Big banks see risks in financing the AI boom, but are happy to keep writing the checksMarketWatch · Oct 14, 2026Trump 'not happy' with Kimberly Guilfoyle, weighs firing her as ambassador to GreeceCNBC · Oct 13, 2026A ‘death cross’ is coming for the dollar. Why Trump will be happy.MarketWatch · Sep 27, 2026These charts show how leverage-happy investors are transforming the stock marketMarketWatch · Aug 30, 2026Insider trades
Our insider feed has not updated since May 26, 2026. Trades filed after that are not listed yet.
No insider trades on file.
The seven classic investing rulebooks
2/7Passes 2 of 7. Each bar is how well the company fits that investor's published rules, from 0 to 100; 60 or more counts as a pass.
Warren Buffett
62Pass
Benjamin Graham
47No pass
Philip Fisher
55No pass
Peter Lynch
83Pass
Joel Greenblatt
15No pass
Charlie Munger
58No pass
Terry Smith
45No pass
Questions about Happy Forgings
Is Happy Forgings a good stock to buy?
A solid business, priced as if everything goes right. 2 of the 7 famous investors' published rulebooks we apply pass it. Whether it suits you depends on your goals and the price you pay; invest-like never tells anyone to buy or sell. The AI analysis lays out the case for and against. Read the Happy Forgings AI analysis
What does Happy Forgings do?
Happy Forgings Limited manufactures and sells forgings and related components in India and internationally. It is in Metal Fabrication, based in Ludhiana, India.
Does Happy Forgings pay a dividend?
Yes. At today's price the dividend is 0.2% a year, about 9% of its yearly profit. In 2026 it paid out ₹283 million in dividends.
Is Happy Forgings stock halal?
Yes. Happy Forgings passes our halal screen: its business is permitted and its debt is 2% of its market value, under the 30% limit. How we check
How has Happy Forgings stock done over the past year?
Up 83.0% over the past twelve months, to ₹1,960.95. It traded between ₹1,020.45 and ₹2,420.15 and is 19.0% below its high.
Who are Happy Forgings's competitors?
The largest listed companies in the same industry are China International Marine Containers (Group), Commercial Metals, Aurubis and Sinomach Heavy Equipment Group CO.,LTD. The peers table on this page compares their profit, growth and price with Happy Forgings's.
Prices: daily closes to Nov 13, 2026. Fundamentals: company reports via invest-like data.