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Happy Forging Limited (IN:HAPPYFORGE)
:HAPPYFORGE
India Market
HAPPYFORGE
Happy Forging Limited
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Happy Forging Limited (HAPPYFORGE) Ratios

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Happy Forging Limited Ratios

IN:HAPPYFORGE's free cash flow for Q2 2026 was ₹0.46. For the 2026 fiscal year, IN:HAPPYFORGE's free cash flow was decreased by ₹ and operating cash flow was ₹0.27. See a summary of the company’s cash flow.
Ratios
TTM
Mar 25Mar 24Mar 23Mar 22
Liquidity Ratios
Current Ratio
 3.15 2.81 3.07 1.91 1.74
Quick Ratio
 2.41 2.10 2.14 1.25 0.99
Cash Ratio
 0.05 0.42 <0.01 <0.01 <0.01
Solvency Ratio
 1.09 0.94 1.13 0.78 0.53
Operating Cash Flow Ratio
 0.72 0.90 0.78 0.82 0.33
Short-Term Operating Cash Flow Coverage
 1.13 1.28 1.32 1.31 0.48
Net Current Asset Value
₹ 6.08B₹ 5.53B₹ 4.68B₹ 1.52B₹ 833.40M
Leverage Ratios
Debt-to-Assets Ratio
 0.08 0.10 0.08 0.16 0.21
Debt-to-Equity Ratio
 0.10 0.12 0.09 0.22 0.31
Debt-to-Capital Ratio
 0.09 0.11 0.08 0.18 0.23
Long-Term Debt-to-Capital Ratio
 0.00 0.00 0.00 0.06 0.09
Financial Leverage Ratio
 1.17 1.20 1.17 1.34 1.43
Debt Service Coverage Ratio
 1.88 1.49 2.06 1.59 1.08
Interest Coverage Ratio
 38.98 43.80 52.66 42.82 26.98
Debt to Market Cap
 0.02 0.03 0.02 0.02 0.02
Interest Debt Per Share
 21.39 24.98 17.06 24.52 26.27
Net Debt to EBITDA
 0.38 0.21 0.36 0.63 1.01
Profitability Margins
Gross Profit Margin
44.70%47.20%54.17%25.51%43.78%
EBIT Margin
28.57%28.27%24.69%25.15%25.00%
EBITDA Margin
34.80%34.22%29.52%29.86%29.85%
Operating Profit Margin
26.08%25.45%45.66%46.02%24.33%
Pretax Profit Margin
27.94%27.73%23.88%24.12%24.20%
Net Profit Margin
20.98%20.63%17.89%17.98%17.93%
Continuous Operations Profit Margin
20.98%20.63%17.89%17.98%17.93%
Net Income Per EBT
75.09%74.38%74.91%74.53%74.09%
EBT Per EBIT
107.16%108.96%52.31%52.42%99.43%
Return on Assets (ROA)
12.42%12.07%12.88%15.74%12.59%
Return on Equity (ROE)
15.51%14.46%15.07%21.12%18.07%
Return on Capital Employed (ROCE)
17.76%17.47%37.72%49.95%21.83%
Return on Invested Capital (ROIC)
12.16%11.59%25.99%32.37%13.62%
Return on Tangible Assets
12.52%12.15%12.92%15.75%12.61%
Earnings Yield
2.33%3.59%2.91%2.15%1.47%
Efficiency Ratios
Receivables Turnover
 3.58 3.04 3.66 3.76 3.50
Payables Turnover
 17.79 15.09 11.21 11.54 10.09
Inventory Turnover
 3.35 2.95 2.78 3.25 2.43
Fixed Asset Turnover
 1.17 1.28 1.46 1.54 1.19
Asset Turnover
 0.59 0.59 0.72 0.88 0.70
Working Capital Turnover Ratio
 4.20 2.37 3.70 5.61 4.72
Cash Conversion Cycle
 190.37 219.83 198.56 177.87 218.55
Days of Sales Outstanding
 101.82 120.09 99.69 97.15 104.22
Days of Inventory Outstanding
 109.07 123.93 131.43 112.34 150.51
Days of Payables Outstanding
 20.52 24.19 32.56 31.62 36.18
Operating Cycle
 210.89 244.02 231.12 209.49 254.73
Cash Flow Ratios
Operating Cash Flow Per Share
 23.06 31.01 20.83 22.23 8.52
Free Cash Flow Per Share
 0.85 2.25 -0.56 3.70 -11.73
CapEx Per Share
 22.20 28.76 21.39 18.53 20.26
Free Cash Flow to Operating Cash Flow
 0.04 0.07 -0.03 0.17 -1.38
Dividend Paid and CapEx Coverage Ratio
 0.91 0.95 0.92 1.20 0.42
Capital Expenditure Coverage Ratio
 1.04 1.08 0.97 1.20 0.42
Operating Cash Flow Coverage Ratio
 1.13 1.28 1.32 0.96 0.33
Operating Cash Flow to Sales Ratio
 0.16 0.23 0.14 0.18 0.10
Free Cash Flow Yield
0.07%0.28%-0.06%0.36%-1.14%
Valuation Ratios
Price-to-Earnings (P/E) Ratio
 44.39 27.88 34.41 46.53 68.25
Price-to-Sales (P/S) Ratio
 9.32 5.75 6.16 8.36 12.23
Price-to-Book (P/B) Ratio
 6.47 4.03 5.19 9.83 12.33
Price-to-Free Cash Flow (P/FCF) Ratio
 1.58K 351.72 -1.64K 278.48 -87.84
Price-to-Operating Cash Flow Ratio
 58.33 25.51 44.24 46.36 120.94
Price-to-Earnings Growth (PEG) Ratio
 5.87 2.77 2.32 0.85 0.97
Price-to-Fair Value
 6.47 4.03 5.19 9.83 12.33
Enterprise Value Multiple
 27.15 17.02 21.21 28.64 42.00
Enterprise Value
 124.56B 75.48B 85.04B 99.29B 99.51B
EV to EBITDA
 26.28 17.02 21.21 28.64 42.00
EV to Sales
 9.15 5.82 6.26 8.55 12.54
EV to Free Cash Flow
 1.55K 356.04 -1.67K 284.75 -90.01
EV to Operating Cash Flow
 57.28 25.82 44.99 47.40 123.93
Tangible Book Value Per Share
 205.90 194.66 177.06 104.75 83.44
Shareholders’ Equity Per Share
 207.74 196.20 177.72 104.91 83.61
Tax and Other Ratios
Effective Tax Rate
 0.25 0.26 0.25 0.25 0.26
Revenue Per Share
 144.41 137.52 149.70 123.24 84.25
Net Income Per Share
 30.30 28.37 26.78 22.15 15.10
Tax Burden
 0.75 0.74 0.75 0.75 0.74
Interest Burden
 0.98 0.98 0.97 0.96 0.97
Research & Development to Revenue
 0.00 0.00 0.00 0.00 0.00
SG&A to Revenue
 0.16 0.10 0.08 <0.01 <0.01
Stock-Based Compensation to Revenue
 <0.01 <0.01 <0.01 0.00 0.00
Income Quality
 0.65 1.09 0.78 1.00 0.56
Currency in INR