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Happy Forgings Ltd share Price Today

Company details

1,164.00
1,218.00
813.20
1,218.00
6M Return 0.00%
1Y Return 16.43%
Mkt Cap.(Cr) 11,306.48
Volume 214,448
Div Yield 0.00%
OI
-
OI Chg %
-
Volume 214,448

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Industrial Products company Happy Forgings announced Q4FY24 & FY24 results:

  • Happy Forgings Limited has reported its audited financial results showcasing commendable growth, with the Board recommending a final dividend of Rs 4 per equity share for the financial year ending March 31, 2024.
  • Q4FY24 revenue from operations rose by 14% YoY to Rs 343 crore.
  • The company has achieved a 16% YoY growth in revenues in FY24. Operational excellence is evident through the enhanced EBITDA and PAT percentages of 28.5% and 17.9%, respectively.
  • The return on equity (ROE) for FY24, after certain adjustments, stood resilient at 20.6%, while the return on capital employed (ROCE) after similar adjustments was robust at 26.9%.
  • Happy Forgings has shown an impressive increase in the sale of machined products in FY24, which are higher in value, from 79% to 85%. Additionally, the industrial segment experienced significant growth, contributing 12% to the revenue, up from the previous year's 4%.

Commenting on the results, Ashish Garg, Managing Director said, “We closed FY24 on a positive note registering growth, margin improvement and further diversification of our revenue streams despite slowdown in key industry segments and the Red Sea crisis. We achieved 16% growth in revenues for FY24 driven by exports and industrials business segment.

Margins and profits grew substantially on YoY basis in FY24 as share of machined product sales increased from 79% to 85% of sales and together with favorable change in business mix, helped us improve our gross margins by ~3% and EBITDA margin by ~1.5%. Gross Margin stood at 56.1% and EBITDA improved to 28.5% despite increase in ESOP related costs and export freight costs. These margin improvements helped us achieve 22% growth in EBITDA and 27% growth in PAT on a YoY basis in FY24.

Revenue segment diversification continued as we marked an entry into the Passenger Vehicles segment in both domestic and export market in FY24. With recent order wins in this segment, we demonstrated our ability to expand our wallet share from existing customers, giving us good visibility to achieve the targeted contribution to sales from this segment in the next 2 years. We also witnessed a significant increase in the share of industrial segment from 4% to 12% and exports from 13% to 20% of revenues in FY24.

We continue to expand capacities and planned additions in forging and machining capacities are on track. Our balance sheet strength provides us the flexibility to capitalize on growth opportunities and further improve our returns profile as we deploy capital. The Board has recommended a dividend of Rs. 4 per share for FY24 which effectively means a payout of ~16%.

Looking ahead, we are confident in our ability to sustain this positive momentum and drive further growth and profitability and hope that improvement in underlying business segments will trigger additional growth.”

Result PDF

View Other Company Results

Happy Forgings Ltd shares SWOT Analysis

Strengths (10)

  • New 52 week high today
  • Growth in Net Profit with increasing Profit Margin (QoQ)
  • Company with Low Debt

Weakness (0)

Data not found

Opportunity (2)

  • RSI indicating price strength
  • High Volume, High Gain

Threats (2)

  • High PE (PE > 40)
  • Increasing Trend in Non-Core Income

Resistance and support

R1 1,224.1
R2 1,248.1
R3 1,278.1
Pivot

1,194.07

S1 1,170.1
S2 1,140.1
S3 1,116.1
EMA SMA
1,106.9
1,038.8
998.9
-
1,109.3
1,008.7
972.0
-
Delivery and volume
CLIENT NAME DEAL TYPE ACTION DATE AVG. PRICE QUANTITY EXCHANGE
Name Category Shares
ASHISH GARG PROMOTER 13.74%
PARITOSH KUMAR PROMOTER 9.5%
MEGHA GARG PROMOTER 2.57%
PARITOSH KUMAR GARG HUF PROMOTER 0.73%
PARITOSH KUMAR PROMOTER 40.39%
AYUSH CAPITAL AND FINANCIAL SERVICES P LTD PROMOTER 11.41%

FINANCIALS

Sales
Operating Profit
Profit after Tax
Equity
Reserves and Surplus
Debt
Sales
Operating Profit
Profit after Tax
PE
Debt/Equity
P BV

Happy Forgings Ltd Stocks COMPARISON

Financials( in Cr) Happy Forgings Ltd Bharat Forge Ltd AIA Engineering Ltd CIE Automotive India Ltd PTC Industries Ltd
Price 1,200.20 1,636.95 3,825.80 580.05 12,525.80
% Change 3.25 0.33 0 -0.16 2.30
Mcap Cr 11,306.48 76,214.59 36,084.95 22,004.89 18,088.51
Revenue TTM Cr 1,196.53 12,910.26 4,908.77 9,280.35 219.26
Net Profit TTM Cr 208.70 508.39 1,056.50 1,125.15 25.82
PE TTM 46.54 79.52 31.72 27.26 429.43
1 Year Return 16.43 98.43 17.09 15.73 239.99
ROCE 26.18 7.32 25.25 17.73 11.33
ROE 23.50 6.88 20.23 20.31 10.87
INSIDER & INSTITUTIONAL ACTIVITY

Equity Capital: 988.31 Cr FV: 2.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 35,930.46 -6,140.05
LAST 3M 112,173.55 -45,499.40
LAST 6M 183,830.47 -16,034.02
LAST 12M 290,122.07 99,526.79

Happy Forgings Ltd Information

Stock PE (TTM)
46.54
Promoter Holding
78.6%
Book Value
171.1685
ROCE
26.18%
ROE
23.5%
Description
  • Happy Forgings Limited was incorporated as `Happy Forgings Private Limited` at Jalandhar, Punjab as a private limited company, pursuant to a certificate of incorporation dated July 2, 1979, issued by the Registrar of Companies, Punjab, Himachal Pradesh and Chandigarh. Thereafter, Company was converted from a private limited company to a public limited company, and the name of Company was changed to `Happy Forgings Limited`, and a fresh certificate of incorporation dated April 1, 1998, issued by the Registrar of Companies, Punjab, Himachal Pradesh and Chandigarh. Happy Forgings are an engineering led manufacturer of complex and safety critical, heavy forged and high precision machined components in India. The Company manufacture a wide range of forged and machined products such as crankshafts, front axle beams, steering knuckles, differential cases, transmission parts, planetary carriers, suspension brackets and valve bodies across industries for a diversified base of customers. It mainly cater to domestic and global OEMs manufacturing commercial vehicles in the automotive sector and manufacturers of farm equipment, off-highway vehicles and manufacturers of industrial equipment and machinery for oil and gas, power generation, railways and wind turbine industries into the non-automotive sector. The Company has emerged as a leading player in the domestic crankshaft manufacturing industry with the second largest production capacity for commercial vehicle and high horse-power industrial crankshafts in India. In 1995, the Company purchased heavy duty hammers for manufacturing of oil engine parts and motor parts. In 2006, it commissioned operations at Kanganwal Facility II unit, in 2008, commissioned first 8,000 ton forging press; commenced manufacturing front steering parts by procuring axle arms in 2009 and installed model grinding technology used to manufacture four cylinder and six cylinder crankshafts. In 2011, it ventured into commercial vehicles, farm equipment and industrial equipment industries; later on, the second 8,000 ton forging press was commissioned during 2017; again it ventured into a new sector by manufacturing pinion shaft in the wind turbine industry in 2019; installed third 8,000 ton forging press line in 2021; commenced Dugri Facility operations in 2021, commissioned front axle beam for electric buses into commercial vehicle industry in 2022 and thereafter, installed 8 dedicated lines for manufacturing crankshafts and commissioned first 14,000 ton forging press line in 2022. Through Initial Public Offer, the Company is planning Equity Shares of Fresh Issue aggregating Rs 500 Crores and an Offer for Sale by issuing 8,054,910 Equity Shares.

Registered Address

B-XXIX 2254/1 Kanganwal Rd P O, Jugiana, Ludhiana, Punjab, 141120

Tel : +91 161 521 7162
Email : complianceofficer:happyforgingsltd.co.in
Website : http://www.happyforgingsltd.com
Registrar

Link Intime India Pvt Ltd

AGM Date (Month) :
Face Value Equity Shares : 2
Market Lot Equity Shares : 1
BSE Code : 544057
NSE Code : HAPPYFORGE
Book Closure Date (Month) :
BSE Group : B
ISIN : INE330T01021

FAQ’s on Happy Forgings Ltd Shares

You can buy Happy Forgings Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Happy Forgings Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of Jun 13, 2024 03:59 PM the closing price of Happy Forgings Ltd was Rs.1,200.20.

The latest PE ratio of Happy Forgings Ltd as of Jun 13, 2024 03:59 PM is 46.54

The latest PB ratio of Happy Forgings Ltd as of Jun 13, 2024 03:59 PM is 0.14

The 52-week high of Happy Forgings Ltd share price is Rs. 1,218.00 while the 52-week low is Rs. 813.20

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of Jun 13, 2024 03:59 PM, the market cap of Happy Forgings Ltd stood at Rs. 11,306.48.

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