Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Happy Forgings Ltd
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 302 | 330 | 343 | 342 | 343 | 341 | 361 | 354 | 352 | 354 | 377 | 391 | 424 |
| Expenses + | 217 | 230 | 249 | 247 | 246 | 244 | 256 | 253 | 250 | 253 | 262 | 271 | 291 |
| Operating Profit | 86 | 100 | 94 | 95 | 97 | 98 | 105 | 101 | 102 | 101 | 116 | 120 | 133 |
| OPM % | 28% | 30% | 27% | 28% | 28% | 29% | 29% | 29% | 29% | 29% | 31% | 31% | 31% |
| Other Income + | 2 | 3 | 1 | 3 | 7 | 8 | 13 | 7 | 10 | 10 | 6 | 8 | 6 |
| Interest | 5 | 3 | 4 | 4 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 4 |
| Depreciation | 14 | 15 | 16 | 17 | 16 | 18 | 20 | 19 | 20 | 21 | 22 | 22 | 25 |
| Profit before tax | 68 | 85 | 74 | 78 | 87 | 86 | 97 | 87 | 90 | 89 | 99 | 104 | 111 |
| Tax % | 25% | 25% | 25% | 25% | 25% | 26% | 27% | 26% | 24% | 26% | 26% | 24% | 25% |
| Net Profit + | 51 | 64 | 55 | 58 | 66 | 64 | 71 | 65 | 68 | 66 | 73 | 79 | 84 |
| EPS in Rs | 5.67 | 7.16 | 6.17 | 6.15 | 6.98 | 6.78 | 7.58 | 6.85 | 7.19 | 6.97 | 7.79 | 8.37 | 8.86 |
Financials of Happy Forgings Ltd
Annual income statement trend
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Sales + | 550 | 750 | 558 | 585 | 860 | 1,197 | 1,358 | 1,409 | 1,546 |
| Expenses + | 413 | 545 | 416 | 426 | 629 | 856 | 971 | 1,002 | 1,076 |
| Operating Profit | 137 | 205 | 142 | 159 | 231 | 341 | 388 | 407 | 471 |
| OPM % | 25% | 27% | 26% | 27% | 27% | 28% | 29% | 29% | 30% |
| Other Income + | 4 | 1 | 7 | 6 | 6 | 6 | 13 | 37 | 31 |
| Interest | 22 | 23 | 25 | 12 | 7 | 12 | 12 | 8 | 10 |
| Depreciation | 23 | 29 | 28 | 36 | 38 | 54 | 65 | 77 | 89 |
| Profit before tax | 96 | 155 | 96 | 117 | 192 | 280 | 324 | 360 | 402 |
| Tax % | 39% | 38% | 17% | 26% | 26% | 25% | 25% | 26% | 25% |
| Net Profit + | 58 | 95 | 80 | 86 | 142 | 209 | 243 | 268 | 302 |
| EPS in Rs | 738.38 | 1,066.26 | 893.18 | 965.92 | 15.90 | 23.32 | 25.79 | 28.39 | 31.97 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 6% | 16% | 11% | 13% |
Financials of Happy Forgings Ltd
Capital structure and asset base
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 8 | 9 | 9 | 9 | 18 | 18 | 19 | 19 | 19 |
| Reserves | 176 | 470 | 550 | 636 | 770 | 970 | 1,594 | 1,831 | 2,109 |
| Borrowings + | 301 | 156 | 105 | 150 | 240 | 219 | 143 | 227 | 330 |
| Other Liabilities + | 92 | 85 | 100 | 79 | 102 | 119 | 130 | 138 | 175 |
| Total Liabilities | 576 | 719 | 763 | 874 | 1,130 | 1,326 | 1,886 | 2,215 | 2,633 |
| Fixed Assets + | 285 | 291 | 275 | 415 | 456 | 678 | 744 | 907 | 1,116 |
| CWIP | 9 | 46 | 109 | 40 | 212 | 75 | 127 | 123 | 229 |
| Investments | 0 | 30 | 0 | 0 | 0 | 0 | 0 | 80 | 238 |
| Other Assets + | 282 | 352 | 378 | 419 | 461 | 573 | 1,015 | 1,105 | 1,050 |
| Total Assets | 576 | 719 | 763 | 874 | 1,130 | 1,326 | 1,886 | 2,215 | 2,633 |
Financials of Happy Forgings Ltd
Operating, investing and financing cash movement
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 136 | 169 | 50 | 80 | 209 | 189 | 292 | 445 | |
| Cash from Investing Activity + | -162 | -119 | -59 | -166 | -172 | -470 | -319 | -498 | |
| Cash from Financing Activity + | 27 | -50 | 10 | 83 | -37 | 281 | 39 | 66 | |
| Net Cash Flow | 1 | -0 | 1 | -3 | -0 | 1 | 12 | 13 | |
| Free Cash Flow | 1 | 67 | -42 | -111 | 35 | -4 | 12 | -16 | |
| CFO/OP | 91% | 136% | 53% | 53% | 80% | 71% | 92% | 114% |
Financials of Happy Forgings Ltd
Working capital efficiency and return ratios
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 114 | 82 | 90 | 103 | 94 | 94 | 96 | 110 | 93 |
| Inventory Days | 111 | 106 | 111 | 176 | 173 | 112 | 137 | 143 | 134 |
| Days Payable | 48 | 30 | 53 | 55 | 42 | 32 | 34 | 28 | 34 |
| Cash Conversion Cycle | 177 | 158 | 148 | 225 | 226 | 175 | 199 | 226 | 193 |
| Working Capital Days | 123 | 106 | 60 | 82 | 76 | 71 | 102 | 98 | 133 |
| ROCE % | 32% | 19% | 18% | 22% | 26% | 23% | 19% | 18% |