About
- Industry Position:
- Fourth-largest engineering-led manufacturer in India
- Product Focus:
- Specialization in complex, safety-critical, heavy forged, and high precision machined components
- Capacity Ranking:
- Ranked fourth in India based on forgings capacity
- Integrated Operations:
- Vertically integrated operations covering engineering, process design, testing, manufacturing, and supply
- Market Segments:
- Primarily cater to domestic and global OEMs in the automotive sector
- Non-automotive sector involvement with manufacturers of farm equipment, off-highway vehicles, and industrial equipment
- Customer Base:
- Serving original equipment manufacturers in the automotive sector
- Non-automotive sector includes manufacturers of farm equipment, off-highway vehicles, and industrial equipment for various industries
- Application Sectors:
- Automotive Sector:
- Focus on commercial vehicles manufacturing
- Non-automotive Sector:
- Catering to industries such as oil and gas, power generation, railways, and wind turbine
- Automotive Sector:
- Value Addition:
- Components designed to be both margin accretive and value-additive
Table of Contents
Happy Forging IPO details
Key Details
Information about Happy Forging IPO presented in bullet points:
- Issue Size: ₹1,008.59 Cr (Initial Public Offer of Fresh issue size Up to ₹400 Cr and Offer for sale up to ₹608.59 Cr)
- Type: Book built issue
- Subscription Period: 19 – 21 Dec 2023
- Allotment Date: Expected on Friday, December 22, 2023
- Listing Date: Tentatively set for Wednesday, December 27, 2023
- Price Band: ₹808 to ₹850 per share
- Minimum Lot Size: 17 shares
- Retail Investor Minimum Investment: ₹14,450
- sNII (Non-Institutional Investors) Minimum Lot Size: 14 lots (238 shares), amounting to ₹202,300
- bNII (Non-Institutional Investors) Minimum Lot Size: 70 lots ( 1,190 shares), amounting to ₹1,011,500.
| IPO Date | 19 – 21 Dec 23 |
| Issue Size | ₹1,008.59 Cr (Initial Public Offer of Fresh issue size Up to ₹400 Cr and Offer for sale up to ₹608.59 Cr) |
| Lot Size | 17 shares |
| Price Range | ₹808 to ₹850 per share |
| Face Value | ₹2 per share |
| Issue Type | 100% book building |
| Cut-off time for UPI Mandate Confirmation | 21-Dec-2023 (upto 5:00 PM) The new cut-off time for UPI mandate acceptance is 05:00 PM on last day of IPO bidding. |
Lot Size
| Application | Lots | Shares | Price |
|---|---|---|---|
| Retail(min) | 1 | 17 | ₹14,450 |
| Retail (max) | 13 | 221 | ₹187,850 |
| Small HNI (min) | 14 | 238 | ₹202,300 |
| Small HNI (max) | 69 | 1,173 | ₹997,050 |
| Big HNI (min) | 70 | 1,190 | ₹1,011,500 |
Important Dates
Happy Forging Limited IPO opens on 19 Dec 23 and closes on 21 Dec 23
| IPO opening date | 19 Dec 23, Tuesday (10:00 AM) |
| IPO closing date | 21 Dec 23, Thursday (05:00 PM) |
| Basis of allotment | 22 Dec 23, Friday |
| Initiation of Refunds | 26 Dec 23, Tuesday |
| Credit of Shares to Demat | 26 Dec 23, Tuesday |
| Listing Date | 27 Dec 23, Wednesday |
Company Financial Report
| Total Assets | Total Revenue | Profit After Tax | |
|---|---|---|---|
| 31 Mar 23 | 1,326.17 | 1,202.27 | 208.70 |
| 31 Mar 22 | 1,129.87 | 866.11 | 142.29 |
| 31 Mar 21 | 876.38 | 590.81 | 86.45 |
Key Performance Indicators (KPIs)
| KPIs | Value |
|---|---|
| Price to Earning (P/E) | 36.45 |
| Return on capital employed(ROCE) | 24.24% |
| Return on Equity (ROE) | 21.12% |
| Avergage Return On Networth (RoNW) | 21.12% |
| Earning Per Share (EPS) | 23.32 |
| Debt to Equity | 0.22 |
The source of the information provided is NSE. We do not guarantee the correctness of facts and information. It is provided as it available on NSE.
Competitor Analysis
| Company | Market Cap(in Crores) | PE | ROE(%) | ROCE(%) |
|---|---|---|---|---|
| Happy Forging Limited | – | 36.45 | 21.12% | 24.24% |
| Bharat Forge Ltd | ₹ 56,178 | 85.8 | 7.70 | 6.88 |
| Craftsman Automation Ltd | ₹ 11,188 | 37.5 | 19.8 | 20.6 |
| Ramkrishna Forgings Ltd | ₹ 13,702 | 47.2 | 20.6 | 18.5 |
| Sona BLW Precision Forgings Ltd | ₹ 32,981 | 69.9 | 18.3 | 22.0 |
Product & Services
Customers
Happy Forging serves a diverse clientele of prominent automotive and industrial players, including:
- Tata Motors:
- A leading global automotive manufacturer.
- JCB:
- Renowned for construction and agricultural equipment.
- Mahindra:
- A prominent player in the automotive and farm equipment sectors.
- Yanmar:
- An international company known for diesel engines and agricultural machinery.
- Ashok Leyland:
- A major manufacturer of commercial vehicles and power solutions.
- Escorts Kubota Limited:
- A collaboration between Escorts Limited and Kubota Corporation, specializing in tractors and agricultural machinery.
- SML Isuzu:
- A significant player in the commercial vehicle segment.
These esteemed customers signify Happy Forging’s strong presence and reputation in the industry, as it caters to diverse sectors, including automotive, construction, agriculture, and commercial vehicles. The relationships with these key clients underscore the company’s capability to deliver high-quality and precision-engineered components for their specific needs.
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