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The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
History
The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
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,…
Weekly engine runs — movement reflects the numbers, not analyst opinion.
A decent, steadily growing business, priced for perfection.
HAPPYFORGE is scored on the general / industrial framework. It keeps a healthy 19.1% of every rupee of sales as net profit. Those profits are backed by real cash — operating cash flow runs 1.47× reported profit. Free cash flow is worth about -0.3% of its market value.
Over the last 3 years revenue compounded at 10%/yr and profit at 13%/yr. Book value itself has compounded 29%/yr — the hallmark of a genuine compounder. Return on equity is a healthy 15.4%. In the latest quarter profit grew 9% versus the prior quarter.
At 53× earnings, the stock sits at the 91st percentile of its own 2.9-year range — the expensive end of where it has historically traded. Today's price already implies ~20%/yr earnings growth sustained for a decade — a demanding bar. The books come through clean — a forensic grade of A, and Altman puts distress risk in the safe zone.
A plain-English restatement of the figures on this page — rules-based, for education and research context, not investment advice or a recommendation.
| Ratio | Company | Sector | Read |
|---|---|---|---|
| P/E | 45.24 | 35.07 | worse |
| P/B | 6.96 | 3.96 | worse |
| EV/EBITDA | 31.05 | 7.91 | worse |
| ROE | 15.38 | 7.7 | better |
| ROCE | 16.98 | 12.82 | better |
| ROA | 11.55 | 3.49 | better |
| Quick Ratio | 1.84 | 1.24 | better |
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Bharat Forge | 122.0 | 7.4 | 8.7% |
| PTC Industries | 307.8 | 11.7 | 6.7% |
| AIA Engineering | 23.5 | 3.5 | 14.7% |
Revenue has grown every year across all 4 financial years shown. 9% CAGR — growing but slowly.
Net profit has risen every year — the hallmark of a compounder. Profit is growing faster than revenue (13% vs 9%) — margin expansion is at work.
Operating margin has expanded from 23% to 25% — the business is keeping more of each rupee earned.
ROE at 14% — a respectable return on shareholder capital. Capital efficiency declining — ROE down 7pp.
EPS has grown every year — each share earns more than the last, consistently. 11% EPS CAGR — this is the rate at which each share's claim on earnings is compounding.
Operating cash flow has been positive every year — the business generates real cash, not just accounting profit. Cash conversion at 1.5× PAT — earnings are well-backed by cash; strong accrual quality. Investing outflows exceed operating cash — the company relies on external funding to finance expansion.
When operating cash keeps pace with reported profit, earnings are cash-backed; a persistent shortfall is a quality flag.
Revenue rose 7% sequentially — momentum is building. Run-rate stepping up — recent quarters average 14% above earlier ones.
How today's P/E compares to the stock's own historical range. Dashed line = the 2.9y median.
Promoters hold 78.4% — heavily owner-operated with strong skin in the game.
Produced by a rules-based engine over licensed exchange fundamentals — every sentence above is derived from the numbers shown, no analyst or AI opinion involved. Education and research context, not investment advice. We are not SEBI-registered as an Investment Adviser or Research Analyst.