Happy Forgings Future Growth
Future criteria checks 3/6
Happy Forgings is forecast to grow earnings and revenue by 17.1% and 17% per annum respectively. EPS is expected to grow by 19% per annum. Return on equity is forecast to be 15.9% in 3 years.
Key information
17.1%
Earnings growth rate
19.05%
EPS growth rate
| Machinery earnings growth | 19.8% |
| Revenue growth rate | 17.0% |
| Future return on equity | 15.87% |
| Analyst coverage | Low |
| Last updated | 09 Apr 2026 |
Recent future growth updates
Analysis Article • Feb 13
Happy Forgings Limited Just Beat EPS By 7.2%: Here's What Analysts Think Will Happen Next
Shareholders of Happy Forgings Limited ( NSE:HAPPYFORGE ) will be pleased this week, given that the stock price is up...Analysis Article • Nov 11
Happy Forgings Limited Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Predictions
Happy Forgings Limited ( NSE:HAPPYFORGE ) last week reported its latest quarterly results, which makes it a good time...Analysis Article • May 22
Happy Forgings Limited (NSE:HAPPYFORGE) Just Reported And Analysts Have Been Cutting Their Estimates
Shareholders might have noticed that Happy Forgings Limited ( NSE:HAPPYFORGE ) filed its annual result this time last...Analysis Article • Feb 12
Earnings Update: Happy Forgings Limited (NSE:HAPPYFORGE) Just Reported And Analysts Are Trimming Their Forecasts
Shareholders might have noticed that Happy Forgings Limited ( NSE:HAPPYFORGE ) filed its quarterly result this time...Recent updates
Narrative Update • May 09
HAPPYFORGE: Upcoming Results And Dividend Decision Will Highlight Stretched Expectations
Analysts have kept their price target for Happy Forgings broadly unchanged at around ₹1,282.71, reflecting only marginal tweaks to assumptions such as discount rate, revenue growth, profit margin and future P/E, rather than a shift in their overall view on the stock. What's in the News A board meeting is scheduled for May 21, 2026, to review and approve the audited standalone financial results for the quarter and financial year ending March 31, 2026 (Key Developments).Narrative Update • Apr 21
HAPPYFORGE: Board Decisions On Land Purchase And Disclosures Will Shape Steady Outlook
Analysts have nudged their price target for Happy Forgings up by about ₹12, reflecting slightly adjusted assumptions on fair value, discount rate, revenue growth, profit margin and future P/E that collectively support a modestly higher valuation. What's in the News A board meeting is scheduled on Feb 09, 2026 at 14:15 IST to consider unaudited standalone and consolidated financial results for the quarter and nine months ended Dec 31, 2025, along with the limited review report (Key Developments).Narrative Update • Apr 07
HAPPYFORGE: Solar And Land Investments Will Shape A Steady Forward Outlook
Analysts have inched up their price target for Happy Forgings from about ₹1,268 to around ₹1,271, reflecting updated assumptions on discount rate, revenue growth, profit margins and future P/E multiples. What's in the News A board meeting is scheduled for February 9, 2026 at 14:15 IST to review unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, along with the limited review report, under SEBI Regulation 33 requirements (Key Developments).Analysis Article • Apr 07
Is It Too Late To Consider Buying Happy Forgings Limited (NSE:HAPPYFORGE)?
Happy Forgings Limited ( NSE:HAPPYFORGE ), is not the largest company out there, but it saw a double-digit share price...Narrative Update • Mar 24
HAPPYFORGE: Solar Expansion And Land Investments Will Support A Steady Outlook
Analysts have kept their price target on Happy Forgings broadly unchanged at around ₹1,268. This reflects only marginal tweaks to assumptions such as discount rate, revenue growth, profit margins and future P/E multiples, rather than a shift in overall view.Narrative Update • Mar 08
HAPPYFORGE: Solar Project And Land Purchases Will Shape Steady Forward Outlook
Analysts have kept their fair value estimate for Happy Forgings steady at ₹1,267.71 while making only slight tweaks to inputs like the discount rate, revenue growth, profit margin and forward P/E assumptions, indicating that their core view on the stock’s valuation is basically unchanged. What's in the News Board meeting scheduled on Feb 9, 2026 at 14:15 Indian Standard Time to review unaudited standalone and consolidated financial results for the quarter and nine months ended Dec 31, 2025, along with the limited review report, as required under Regulation 33 of SEBI LODR Regulations, 2015 (Key Developments).Narrative Update • Feb 22
HAPPYFORGE: Solar Expansion And Land Investments Will Support Measured Forward Outlook
Analysts have lifted their price target on Happy Forgings from about ₹1,201 to roughly ₹1,268, citing updated assumptions for slightly higher revenue and profit margins, along with a revised future P/E multiple. What's in the News Board meeting scheduled for Feb 09, 2026 at 14:15 IST to consider unaudited standalone and consolidated financial results for the quarter and nine months ended Dec 31, 2025, along with the limited review report (Key Developments).Analysis Article • Feb 13
Happy Forgings Limited Just Beat EPS By 7.2%: Here's What Analysts Think Will Happen Next
Shareholders of Happy Forgings Limited ( NSE:HAPPYFORGE ) will be pleased this week, given that the stock price is up...Narrative Update • Feb 07
HAPPYFORGE: Solar Plant Expansion And Stable Assumptions Will Support Balanced Outlook
Analysts have kept their price target for Happy Forgings broadly in line with prior estimates, now anchoring it around a fair value of ₹1,201 per share. This reflects slightly lower assumed discount rates and a modestly reduced future P/E multiple, while revenue growth and profit margin expectations remain unchanged.Narrative Update • Jan 24
HAPPYFORGE: Renewable Energy Investment Will Support Steady Margin Outlook
Analysts have nudged their fair value estimate for Happy Forgings to ₹1,201.43 from ₹1,194.29, reflecting updated assumptions around slightly higher revenue growth, a modestly adjusted discount rate, and a marginally different future P/E and profit margin profile. What's in the News Happy Forgings Limited signed a long term lease agreement to secure land for a planned solar power plant, signaling a move to integrate captive renewable energy into its operations (Key Developments).Analysis Article • Jan 12
Here's Why Happy Forgings (NSE:HAPPYFORGE) Can Manage Its Debt Responsibly
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...Narrative Update • Jan 07
HAPPYFORGE: Board Review And Margin Assumptions Will Shape Steady Fair Value Outlook
Analysts have increased their price target for Happy Forgings from ₹1,120.57 to ₹1,194.29, citing updated assumptions around discount rate, revenue growth, profit margin, and a higher future P/E multiple in their models. What's in the News A board meeting is scheduled for November 6, 2025, at 13:00 Indian Standard Time to review the unaudited standalone financial results for the quarter and half year ended September 30, 2025 (Key Developments).Narrative Update • Dec 23
HAPPYFORGE: Board Review And Stable Margins Will Guide Fairly Priced Outlook
Analysts have nudged their price target on Happy Forgings slightly higher to reflect modest improvements in discount rate assumptions and future valuation multiples. This reinforces their view that the stock remains fairly valued at approximately $1,120.57 per share.Analysis Article • Dec 16
The Returns At Happy Forgings (NSE:HAPPYFORGE) Aren't Growing
If you're looking for a multi-bagger, there's a few things to keep an eye out for. One common approach is to try and...Narrative Update • Dec 09
HAPPYFORGE: Upcoming Board Review And Margin Outlook Will Shape Performance
Analysts have lifted their price target on Happy Forgings slightly to approximately ₹1,120.60, reflecting modest tweaks to the discount rate and long term valuation assumptions, while maintaining a broadly unchanged growth and profitability outlook. What's in the News A board meeting is scheduled on November 6, 2025 at 13:00 IST to review unaudited standalone financial results for the quarter and half year ended September 30, 2025 (company filing).Narrative Update • Nov 25
HAPPYFORGE: Upcoming Board Review And Margin Outlook Will Shape Performance
Narrative Update on Happy Forgings Analysts have increased their price target for Happy Forgings from ₹1,041.57 to ₹1,120.57. They cite expectations of stronger revenue growth along with modest improvements in profit margin and operational metrics.Analysis Article • Nov 11
Happy Forgings Limited Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Predictions
Happy Forgings Limited ( NSE:HAPPYFORGE ) last week reported its latest quarterly results, which makes it a good time...Analysis Article • Aug 30
A Look At The Fair Value Of Happy Forgings Limited (NSE:HAPPYFORGE)
Key Insights Happy Forgings' estimated fair value is ₹874 based on 2 Stage Free Cash Flow to Equity With ₹901 share...New Narrative • Aug 20
Diversified Exports And Precision Components Will Define Future Success
Key Takeaways Diversifying exports and expanding high-value components positions the company for sustained growth, improved margins, and premium market opportunities amid evolving global standards. Capacity expansion, automation, and new supply relationships enhance operational efficiency, revenue visibility, and reduce reliance on cyclical markets.Analysis Article • Jun 28
Happy Forgings' (NSE:HAPPYFORGE) Shareholders Will Receive A Smaller Dividend Than Last Year
Happy Forgings Limited ( NSE:HAPPYFORGE ) has announced that on 28th of August, it will be paying a dividend of₹3.00...Analysis Article • May 22
Happy Forgings Limited (NSE:HAPPYFORGE) Just Reported And Analysts Have Been Cutting Their Estimates
Shareholders might have noticed that Happy Forgings Limited ( NSE:HAPPYFORGE ) filed its annual result this time last...Analysis Article • Mar 26
Happy Forgings Limited's (NSE:HAPPYFORGE) Popularity With Investors Is Under Threat From Overpricing
When close to half the companies in India have price-to-earnings ratios (or "P/E's") below 25x, you may consider Happy...Analysis Article • Feb 12
Earnings Update: Happy Forgings Limited (NSE:HAPPYFORGE) Just Reported And Analysts Are Trimming Their Forecasts
Shareholders might have noticed that Happy Forgings Limited ( NSE:HAPPYFORGE ) filed its quarterly result this time...Analysis Article • Jan 28
Happy Forgings (NSE:HAPPYFORGE) Ticks All The Boxes When It Comes To Earnings Growth
Investors are often guided by the idea of discovering 'the next big thing', even if that means buying 'story stocks...Earnings and Revenue Growth Forecasts
| Date | Revenue | Earnings | Free Cash Flow | Cash from Op | Avg. No. Analysts |
|---|---|---|---|---|---|
| 3/31/2028 | 21,429 | 4,178 | 1,375 | N/A | 4 |
| 3/31/2027 | 17,791 | 3,301 | -366 | N/A | 3 |
| 3/31/2026 | 15,346 | 2,959 | -124 | N/A | 5 |
| 12/31/2025 | 14,745 | 2,858 | N/A | N/A | N/A |
| 9/30/2025 | 14,375 | 2,714 | 188 | 3,962 | N/A |
| 6/30/2025 | 14,212 | 2,693 | N/A | N/A | N/A |
| 3/31/2025 | 14,089 | 2,674 | 115 | 2,923 | N/A |
| 12/31/2024 | 14,003 | 2,655 | N/A | N/A | N/A |
| 9/30/2024 | 13,879 | 2,589 | 163 | 2,222 | N/A |
| 6/30/2024 | 13,699 | 2,427 | N/A | N/A | N/A |
| 3/31/2024 | 13,582 | 2,430 | -47 | 1,894 | N/A |
| 12/31/2023 | 13,174 | 2,279 | N/A | N/A | N/A |
| 9/30/2023 | 12,696 | 2,116 | 324 | 2,198 | N/A |
| 6/30/2023 | 12,265 | 2,145 | N/A | N/A | N/A |
| 3/31/2023 | 11,965 | 2,087 | 349 | 2,095 | N/A |
| 3/31/2022 | 8,600 | 1,423 | -1,105 | 803 | N/A |
| 3/31/2021 | 5,850 | 864 | -418 | 499 | N/A |
| 3/31/2020 | 5,581 | 799 | 674 | 1,687 | N/A |
Analyst Future Growth Forecasts
Earnings vs Savings Rate: HAPPYFORGE's forecast earnings growth (17.1% per year) is above the savings rate (6.9%).
Earnings vs Market: HAPPYFORGE's earnings (17.1% per year) are forecast to grow faster than the Indian market (16.8% per year).
High Growth Earnings: HAPPYFORGE's earnings are forecast to grow, but not significantly.
Revenue vs Market: HAPPYFORGE's revenue (17% per year) is forecast to grow faster than the Indian market (10.9% per year).
High Growth Revenue: HAPPYFORGE's revenue (17% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: HAPPYFORGE's Return on Equity is forecast to be low in 3 years time (15.9%).
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/14 11:41 |
| End of Day Share Price | 2026/05/14 00:00 |
| Earnings | 2025/12/31 |
| Annual Earnings | 2025/03/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Happy Forgings Limited is covered by 17 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Viraj Sanghvi | Ambit Capital |
| Ashwin Mehta | Ambit Capital |
| Nandan Chakraborty | DAM Capital Advisors |