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Happy Steels Ltd (HAPPY)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 0 NSE: HAPPY Auto Ancillary | Small Cap | Happy Steels Share Price

BSE Share Price
Not Listed

Happy Steels Ltd (HAPPY)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 0 NSE: HAPPY Auto Ancillary | Small Cap | Happy Steels Share Price

BSE Share Price
Not Listed
Key Metrics
Valuation Multiples
Market Cap
₹98 Cr.
Current Price
₹0
52-Week Low / High
₹0 / 0
TTM EPS
₹5
TTM Sales
₹94.6 Cr.
Book Value per Share
₹30.6
P/E Ratio
13.78
Industry PE
45.1
Price to Book (P/B)
2.24
Price to Sales (P/S)
1.03
EV/EBITDA
9.43
Dividend Yield
NAN%
Profitability Efficiency
Return on Equity (ROE)
19.49%
Return on Capital Employed (ROCE)
15.75%
Return on Assets (ROA)
7.97%
Operating Profit Margin
14.2%
Net Profit Margin
7.5%
Gross Profit Margin
13.4%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
15.22%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
64.49%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
203.42%
Asset Quality
Promoter Holding
%
Pledged shares (%) of Promoter's holding (%)
%
Reserves
₹29 Cr.
Equity
₹14.3 Cr.
Face Value
₹10
All Time Low / High
- / -

Happy Steels stock performance

Key Ratios
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10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Happy Steels Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation ⓘ

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % ⓘ15%10.7%9.5%6.7%2.9%2.5%5.6%15%9.1%15.8%-
Value Creation
Index ⓘ		0.1-0.2-0.3-0.5-0.8-0.8-0.60.1-0.40.1-

Growth Parameters ⓘ
Sales ⓘ56.668.379.46877.388.39480.982.194.695
Sales YoY Gr.-20.5%16.4%-14.4%13.7%14.2%6.4%-13.9%1.5%15.2%-
Adj EPS ⓘ1.81.50.90.70.9-0.20.43.62.16.65
YoY Gr.--19.4%-36.6%-22.8%28.2%-123.1%NA937.1%-41.9%214.2%-
BVPS (₹) ⓘ21.322.823.724.524.324.224.629.131.338.130.6
Adj Net
Profit ⓘ		1.91.510.81-0.20.43.82.277
Cash Flow from Ops. ⓘ-2.4-3.4000-1.30.3-3.710.25.8-
Debt/CF from Ops. ⓘ-4.6-4.9000-26.581-9.73.48.1-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘ5.9%4.1%0.2%15.2%
Adj EPS ⓘ15.6%48.8%166.6%214.2%
BVPSⓘ6.7%9.4%15.7%21.6%
Share Price - - - -

Key Financial Parameters ⓘ

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity % ⓘ		8.96.6433.7-0.91.413.5719.114.5
Op. Profit
Mgn % ⓘ		9.77.36.56.85.83.25.512.19.914.2NAN
Net Profit
Mgn % ⓘ		3.42.21.21.11.2-0.30.44.72.77.47.5
Debt to
Equity ⓘ		0.50.70.60.811.411.211.2-
Working Cap
Days ⓘ		1261401331611851971862272312100
Cash Conv.
Cycle ⓘ		1031201171421491571361721921690

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales56.6268.2579.4367.9777.3188.3093.9680.9182.1494.64
Operating Expenses ⓘ + 51.2063.2774.2563.3872.8085.5288.8471.1674.0381.30
Manufacturing Costs13.6414.8117.4915.3614.8819.9216.5414.9715.3818.35
Material Costs2732.6840.1031.3037.6346.8955.3042.2545.5246.92
Employee Cost 7.7411.9313.3212.9513.9214.2410.119.317.248.48
Other Costs ⓘ 2.813.853.343.776.374.476.904.635.907.55
Operating Profit ⓘ 5.424.975.184.594.512.785.129.758.1113.34
Operating Profit Margin (%) 9.6%7.3%6.5%6.8%5.8%3.1%5.5%12.0%9.9%14.1%
Other Income ⓘ + 0.600.590.530.370.150.570.241.330.381.93
Exceptional Items ⓘ 0000-1.33-0.130000
Interest ⓘ 1.761.702.321.731.341.362.632.542.862.62
Depreciation ⓘ 1.471.611.932.131.921.832.202.172.433.13
Profit Before Tax ⓘ 2.792.251.461.110.070.030.536.363.209.52
Tax ⓘ 0.900.650.390.280.050.030.121.670.862.42
Profit After Tax 1.891.601.070.830.030.010.404.692.347.10
PAT Margin (%) 3.3%2.3%1.4%1.2%0.0%0.0%0.4%5.8%2.9%7.5%
Adjusted EPS (₹)1.81.51.00.80.00.00.44.52.26.8
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Valuation of Happy Steels - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 22.3223.8924.8925.6825.5425.4525.8530.5432.8839.98
Share Capital ⓘ 1.501.501.501.501.501.501.501.501.5010.50
Reserves ⓘ 20.8222.3923.3924.1824.0423.9524.3529.0431.3829.48
Debt +9.8215.6913.5518.9325.5432.9924.8434.0233.2644.71
Long Term Debt6.457.709.0610.228.5510.9210.1911.7911.2716.60
Short Term Debt3.377.984.498.7116.9922.0714.6522.232228.10
Minority Interest0000000000
Trade Payables1.440.961.190.514.923.8513.435.626.315.23
Others Liabilities ⓘ 7.218.387.517.079.879.865.418.206.179.74
Total Liabilities ⓘ 40.8048.9147.1452.1965.8772.1569.5378.3778.6299.66

Fixed Assets

Net Fixed Assets ⓘ +13.8818.8118.7019.6219.1520.0322.0324.2625.1331.75
Gross Block27.0333.3535.1738.1138.7641.0344.8847.7450.7959.81
Accumulated Depreciation13.1514.5416.4718.4919.612122.8523.4825.6628.06
CWIP ⓘ 3.7500003.090.150.222.668.46
Investments ⓘ 0000000000
Inventories9.2012.209.2111.7018.6223.9920.8829.1032.2938.98
Trade Receivables11.0815.1316.8517.0321.6420.5423.3222.1116.0312.76
Cash Equivalents 0.230.400.220.800.150.330.290.220.441.02
Others Assets ⓘ 2.662.382.163.036.314.172.852.462.076.70
Total Assets ⓘ 40.8048.9147.1452.1965.8772.1569.5378.3778.6299.66

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity ⓘ + -2.38-3.42000-1.310.33-3.6710.185.81
PBT ⓘ 2.792.250000.170.536.363.209.52
Adjustment ⓘ 3.233.310001.834.743.445.535.91
Changes in Working Capital ⓘ -5.77-6.65000-3.2-4.65-12.042.17-7.33
Tax Paid ⓘ -0.87-0.63000-0.10-0.29-1.43-0.72-2.29
Cash Flow From Investing Activity ⓘ + -2.18-2.78000-5.93-3.01-3.18-5.64-16.19
Capex -2.18-2.78000-5.93-3.05-3.15-5.76-12.78
Net Investments 0000000000
Others ⓘ -0000000.04-0.030.12-3.40
Cash Flow From Financing Activity ⓘ + 3.466.370007.422.756.77-4.3410.34
Net Proceeds from Shares ⓘ 0000000000
Net Proceeds from Borrowing ⓘ 0.441.250002.371.161.60-0.525.34
Interest Paid ⓘ 000000-2.63-2.54-2.86-2.62
Dividend Paid ⓘ 0000000000
Others ⓘ 3.025.120005.054.227.71-0.967.63
Net Cash Flow ⓘ -1.090.170000.180.06-0.080.20-0.04

Financial Ratio

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)8.856.94.43.270.10.021.5816.637.3919.49
ROCE (%)1510.669.486.742.922.495.6315.049.0915.75
Asset Turnover Ratio1.521.531.651.371.311.281.331.091.051.06
PAT to CFO Conversion(x)-1.26-2.14000-1310.83-0.784.350.82
Working Capital Days
Receivable Days59.6069.7073.509191.3087.2085.20102.5084.8055.50
Inventory Days51.8056.9049.2056.2071.6088.1087.20112.80136.40137.40
Payable Days15.4013.409.809.9026.4034.205782.3047.8044.90

Management X-Ray

Shareholding Pattern

No Data To Display

Promoter's Holding & Share Pledging

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Happy Steels Ltd FAQs

The current trading price of Happy Steels on 01-Jan-1970 05:30 is ₹0.00.

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 31-Dec-1969 the market cap of Happy Steels stood at ₹97.86 Cr

The latest P/E ratio of Happy Steels as of 31-Dec-1969 is 13.78.

The latest P/B ratio of Happy Steels as of 31-Dec-1969 is 2.24.

The 52-week high of Happy Steels is ₹0.00 and the 52-week low is ₹0.00.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Happy Steels is ₹94.64 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Happy Steels Ltd is a below average quality company.

The key valuation ratios of Happy Steels Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Happy Steels Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Happy Steels Ltd

Happy Steels was originally incorporated as ‘Happy Steels Private Limited’ as a private limited company under the Companies Act, 1956 on June 14, 1996. Thereafter, the company was converted into a public limited company from a private limited company pursuant to a special resolution passed by the shareholders of the company on February 15, 2025 consequent to which the name of the company changed from ‘Happy Steels Private Limited’ to ‘Happy Steels Limited’ on March 20, 2025.

It is an integrated manufacturer of Safety-Critical, Forged and Machined Transmission and Driveline components for On-highway vehicles, Off-highway vehicles, EV and Defence applications. The company’s product portfolio consists of wide range of Axles, Long Spline Shafts, Spindle and other related components that are critical of vehicle performance and safety. Over the years, the company has developed strong capabilities in manufacturing safety-critical, high strength and load-bearing components through a combination of forging, precision machining, and stringent quality control processes that are supplied to original equipment manufacturers (OEMs) and Tier-I suppliers in India and overseas.

Its manufacturing operations are supported by an integrated process covering raw material procurement, forging, heat treatment, machining, gear cutting, drilling, surface hardening, grinding, inspection and packing. These capabilities enable it to manufacture components with defined mechanical properties, dimensional accuracy and consistency, in line with customer specifications. Its operations are engineering-driven and include capabilities such as reverse engineering of components, process design, validation and quality control. It works closely with its customers at various stages of the product lifecycle, including design finalisation, process development and serial production. Its in-house facilities for forging, machining, heat treatment and testing allow it to maintain control over quality parameters and production timelines.

Business area of the company

The company is engaged in the manufacturing and sales of different types of Automative parts. The company’s product portfolio consists of wide range of axles, long spline shafts, spindle and other related components that are critical of vehicle performance and safety. 

Products of the company

  • Axle
  • Shaft
  • Rough Steel Forging
  • Spindle
  • Stub Axle
  • Knuckle
  • Case Diff
  • Steering Arms
  • Others

Awards and recognitions 

  • 2014: Best supplier award for quality and delivery from Eicher Tractors. 
  • 2015: Superior excellence award for product cost from Mahindra and Mahindra - Swaraj Division. 
  • 2018-19: Best supplier award from Sonalika Machinery. 
  • 2024: Certificate of approval as heat treatment plant from Kubota Corporation.

History and milestones

  • 1996: The company was incorporated in 1996 under the name and style of ‘Happy Steels Private Limited’ and commenced its operations with the manufacture of axle shafts for tractors from a facility admeasuring around 2,600 square yards.
  • 2000: Expanded by acquiring of 18,400 square yard land and installing a 1200-ton Horizontal Forging Press and Heat Treatment Furnace. 
  • 2000: Entered the off-road vehicles equipment segment with direct supplies to Original Equipment Manufacturer (OEM) companies.
  • 2007: Established a Machine Component Division to transition from conventional to CNC machining.
  • 2013: Commissioned a second 1200-ton Heavy Duty Horizontal Forging Press and Heat Treatment Furnace to enhance capacity.
  • 2018: Entered the Commercial Vehicle and Defence Sectors with direct supplies to Original Equipment Manufacturers (OEMs) companies.

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