Happy Forgings Limited (HAPPYFORGE) - Net Assets
Based on the latest financial reports, Happy Forgings Limited (HAPPYFORGE) has net assets worth Rs19.59 Billion INR (≈ $211.89 Million USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Rs23.01 Billion ≈ $248.82 Million USD) and total liabilities (Rs3.41 Billion ≈ $36.93 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check Happy Forgings Limited (HAPPYFORGE) asset resilience to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | Rs19.59 Billion |
| % of Total Assets | 85.16% |
| Annual Growth Rate | 27.05% |
| 5-Year Change | 186.68% |
| 10-Year Change | N/A |
| Growth Volatility | 17.94 |
Happy Forgings Limited - Net Assets Trend (2019–2024)
This chart illustrates how Happy Forgings Limited's net assets have evolved over time, based on quarterly financial data. Also explore Happy Forgings Limited (HAPPYFORGE) total assets for the complete picture of this company's asset base.
Annual Net Assets for Happy Forgings Limited (2019–2024)
The table below shows the annual net assets of Happy Forgings Limited from 2019 to 2024. For live valuation and market cap data, see Happy Forgings Limited stock valuation.
| Year | Net Assets | Change |
|---|---|---|
| 2024-09-30 | Rs18.50 Billion ≈ $200.02 Million |
+14.70% |
| 2023-09-30 | Rs16.12 Billion ≈ $174.38 Million |
+63.16% |
| 2022-09-30 | Rs9.88 Billion ≈ $106.88 Million |
+25.48% |
| 2021-09-30 | Rs7.88 Billion ≈ $85.18 Million |
+22.08% |
| 2020-09-30 | Rs6.45 Billion ≈ $69.77 Million |
+15.52% |
| 2019-09-30 | Rs5.58 Billion ≈ $60.40 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Happy Forgings Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 267.3% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (September 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | Rs12.24 Billion | 66.18% |
| Common Stock | Rs188.48 Million | 1.02% |
| Other Comprehensive Income | Rs89.41 Million | 0.48% |
| Other Components | Rs5.98 Billion | 32.32% |
| Total Equity | Rs18.50 Billion | 100.00% |
Happy Forgings Limited Competitors by Market Cap
The table below lists competitors of Happy Forgings Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
RONESANS GAYRIMENKUL YAT.
IS:RGYAS
|
$1.38 Billion |
|
Inno Laser Technology Co. Ltd.
SHE:301021
|
$1.38 Billion |
|
NÜRNBERGER Beteiligungs-AG
F:NBG6
|
$1.38 Billion |
|
Chongqing Department Store Co Ltd
SHG:600729
|
$1.38 Billion |
|
Sinopep-Allsino Biopharmaceutical Co. Ltd. A
SHG:688076
|
$1.37 Billion |
|
Country Garden Holdings Company Limited
F:DZJ
|
$1.37 Billion |
|
Jiangxi GETO New Materials Corporation Limited
SHE:300986
|
$1.37 Billion |
|
Guangdong CHJ Industry Co Ltd
SHE:002345
|
$1.37 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Happy Forgings Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 16,124,922,000 to 18,495,461,000, a change of 2,370,539,000 (14.7%).
- Net income of 2,674,363,000 contributed positively to equity growth.
- Dividend payments of 376,820,000 reduced retained earnings.
- Other comprehensive income increased equity by 55,561,999.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | Rs2.67 Billion | +14.46% |
| Dividends Paid | Rs376.82 Million | -2.04% |
| Other Comprehensive Income | Rs55.56 Million | +0.3% |
| Other Changes | Rs17.43 Million | +0.09% |
| Total Change | Rs- | 14.70% |
Book Value vs Market Value Analysis
This analysis compares Happy Forgings Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 6.87x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 21.60x to 6.87x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2019-09-30 | Rs62.40 | Rs1348.00 | x |
| 2020-09-30 | Rs68.48 | Rs1348.00 | x |
| 2021-09-30 | Rs83.61 | Rs1348.00 | x |
| 2022-09-30 | Rs104.91 | Rs1348.00 | x |
| 2023-09-30 | Rs177.54 | Rs1348.00 | x |
| 2024-09-30 | Rs196.20 | Rs1348.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Happy Forgings Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 14.46%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 18.98%
- • Asset Turnover: 0.64x
- • Equity Multiplier: 1.20x
- Recent ROE (14.46%) is below the historical average (16.07%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2019 | 14.31% | 14.32% | 0.73x | 1.37x | Rs240.93 Million |
| 2020 | 13.40% | 14.78% | 0.67x | 1.36x | Rs219.32 Million |
| 2021 | 18.07% | 17.93% | 0.70x | 1.43x | Rs635.27 Million |
| 2022 | 21.12% | 17.98% | 0.88x | 1.34x | Rs1.10 Billion |
| 2023 | 15.07% | 17.89% | 0.72x | 1.17x | Rs817.34 Million |
| 2024 | 14.46% | 18.98% | 0.64x | 1.20x | Rs824.82 Million |
Industry Comparison
This section compares Happy Forgings Limited's net assets metrics with peer companies in the Metal Fabrication industry.
Industry Context
- Industry: Metal Fabrication
- Average net assets among peers: $2,052,879,433
- Average return on equity (ROE) among peers: 13.83%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Happy Forgings Limited (HAPPYFORGE) | Rs19.59 Billion | 14.31% | 0.17x | $1.38 Billion |
| Aeroflex Industries Limited (AEROFLEX) | $3.42 Billion | 15.33% | 0.25x | $436.02 Million |
| Alicon Castalloy Limited (ALICON) | $231.86 Million | 32.52% | 4.67x | $123.28 Million |
| BELL AGROMACHINA ORD T (BSE) (BALUFORGE) | $1.98 Billion | 19.69% | 0.88x | $710.75 Million |
| DCM Limited (DCM) | $869.40 Million | -1.79% | 4.76x | $16.57 Million |
| DEE Development Eng Ltd (DEEDEV) | $4.54 Billion | 0.00% | 0.84x | $312.36 Million |
| D P Wires Limited (DPWIRES) | $278.89 Million | 18.01% | 1.92x | $29.98 Million |
| Gandhi Special Tubes Limited (GANDHITUBE) | $1.02 Billion | 24.96% | 0.10x | $109.45 Million |
| Ganga Forging Limited (GANGAFORGE) | $119.98 Million | -17.63% | 1.75x | $4.23 Million |
| Gravita India Limited (GRAVITA) | $6.02 Billion | 33.42% | 1.00x | $1.28 Billion |
About Happy Forgings Limited
Happy Forgings Limited manufactures and sells forgings and related components in India and internationally. The company offers crankshafts; differential cases; front axle beams and steering knuckles; railway parts, including camshafts, connecting rods, piston pins, spacers, and others; brake flanges and suspension brackets; transmission parts, such as shafts and spindles, crown wheels and pinions… Read more