Price
Financials
Standalone, Rs crore| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Sales | 77.30 | 88.30 | 93.96 | 80.91 | 82.14 | 94.64 |
| Expenses | 72.79 | 85.52 | 88.78 | 71.17 | 74.03 | 81.21 |
| Operating Profit | 4.51 | 2.78 | 5.18 | 9.74 | 8.11 | 13.43 |
| OPM % | 5.83% | 3.15% | 5.51% | 12.04% | 9.87% | 14.19% |
| Other Income | -1.18 | 0.44 | 0.20 | 1.33 | 0.38 | 1.84 |
| Interest | 1.34 | 1.36 | 2.63 | 2.54 | 2.86 | 2.62 |
| Depreciation | 1.92 | 1.83 | 2.20 | 2.17 | 2.43 | 3.13 |
| Profit before tax | 0.07 | 0.03 | 0.55 | 6.36 | 3.20 | 9.52 |
| Tax % | 71.43% | 100.00% | 21.82% | 26.42% | 26.88% | 25.42% |
| Net Profit | 0.03 | 0.01 | 0.43 | 4.69 | 2.34 | 7.10 |
| EPS in Rs | 6.76 | |||||
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 4% | 0% | 15% | ||
| Compounded Profit Growth | % | 39% | 164% | 227% | ||
| Stock Price CAGR | % | % | % | % | ||
| Return on Equity | % | 9% | 13% | 20% |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 1.50 | 1.50 | 1.50 | 1.50 | 1.50 | 10.50 |
| Reserves | 24.04 | 23.95 | 24.33 | 29.04 | 31.38 | 29.48 |
| Borrowings | 25.91 | 34.57 | 26.38 | 35.69 | 34.21 | 47.18 |
| Other Liabilities | 14.42 | 12.13 | 17.29 | 12.15 | 11.53 | 12.50 |
| Total Liabilities | 65.87 | 72.15 | 69.50 | 78.38 | 78.62 | 99.66 |
| Fixed Assets | 14.47 | 20.03 | 22.15 | 24.26 | 25.13 | 31.75 |
| CWIP | 4.68 | 3.09 | 0.00 | 0.22 | 2.66 | 8.46 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Assets | 46.72 | 49.03 | 47.35 | 53.90 | 50.83 | 59.45 |
| Total Assets | 65.87 | 72.15 | 69.50 | 78.38 | 78.62 | 99.66 |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Cash from Operating Activity | 0.00 | 0.00 | 0.00 | -3.67 | 10.18 | 5.81 |
| Cash from Investing Activity | 0.00 | 0.00 | 0.00 | -3.18 | -5.64 | -16.19 |
| Cash from Financing Activity | 0.00 | 0.00 | 0.00 | 6.77 | -4.34 | 10.34 |
| Net Cash Flow | 0.00 | 0.00 | 0.00 | -0.08 | 0.20 | -0.04 |
| Free Cash Flow | 0.00 | 0.00 | 0.00 | -6.89 | 8.15 | -4.99 |
| CFO/OP | 0% | 0% | 0% | -23% | 134% | 60% |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 102.18 | 84.90 | 90.59 | 99.74 | 71.23 | 49.21 |
| Inventory Days | 180.56 | 186.74 | 137.82 | 251.40 | 258.92 | 303.17 |
| Days Payable | 47.71 | 29.97 | 67.39 | 48.55 | 50.60 | 40.68 |
| Cash Conversion Cycle | 235.03 | 241.68 | 161.02 | 302.59 | 279.55 | 311.70 |
| Working Capital Days | 69.60 | 53.20 | 55.20 | 83.59 | 75.76 | 62.21 |
| ROCE % | 1.97% | 5.58% | 12.92% | 8.91% | 15.86% |
| Jul 2026 | |
|---|---|
| Promoters | 72.99% |
| FIIs | 0.29% |
| DIIs | 12.00% |
| Public | 14.72% |
| No. of Shareholders | 454 |
Fundamentals
Market Cap₹ 107 Cr.
Current Price₹ 74.7
Stock P/E14.9
Book Value₹
ROCE15.9 %
ROE19.7 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)15%
Compounded Profit Growth (TTM)227%
Standalone figures.
Valuation
Market capRs 109 Cr
Enterprise valueRs 143 Cr
P/E (TTM)10850.58x
Price to book4.26x
Price to sales1.23x
EV / EBITDA44.33x
EV / EBIT102.69x
EV / sales1.62x
Earnings yield0.01%
Profitability
Operating margin (excl. other income)3.15%
Operating margin (incl. other income)3.65%
EBITDA margin3.65%
Pre-tax margin0.03%
Net profit margin0.01%
ROE0.04%
ROCE2.49%
ROA0.01%
ROIC (approx.)0.00%
Tax rate100.00%
Other income / net worth1.73%
Growth
Sales growth (latest year)14.23%
Profit growth (latest year)-66.67%
Per share
EPS (TTM)Rs 0.01
EPS (latest year)Rs 0.07
Book value per shareRs 17.81
Sales per shareRs 61.81
Free cash flow per shareRs -3.49
Efficiency
Asset turnover1.22x
Fixed asset turnover4.41x
Inventory turnover2.85x
Inventory days128 days
Debtor days85 days
Debtors turnover4.30x
Creditor days41 days
Cash conversion cycle312 days
Working capital days62 days
Leverage
Total debtRs 35 Cr
Cash and bankRs 0 Cr
Net debtRs 34 Cr
Debt to equity1.36x
Net debt / EBITDA10.63x
Interest coverage1.02x
Owners' fund to total sources35.27%
Debt to assets47.91%
Cash flow
Free cash flow (latest year)Rs -5 Cr
FCFE (approx.: FCF + change in debt)Rs 4 Cr
Cash from ops / profit, 5 years0.85x
Statement figures
Net sales (TTM)Rs 88 Cr
Net sales (latest year)Rs 88 Cr
Operating profit excl. other income (latest year)Rs 3 Cr
Other income (TTM)Rs 0 Cr
EBITDA (TTM)Rs 3 Cr
PBDT (TTM)Rs 2 Cr
Profit before tax (TTM)Rs 0 Cr
Tax (latest year)Rs 0 Cr
Net profit (TTM)Rs 0 Cr
Net profit (latest year)Rs 0 Cr
Depreciation (TTM)Rs 2 Cr
Interest (TTM)Rs 1 Cr
Cost of goods sold (latest year)Rs 68 Cr
Total expenditure (latest year)Rs 86 Cr
Total income (latest year)Rs 89 Cr
Share capitalRs 2 Cr
ReservesRs 24 Cr
Shareholders' fundsRs 25 Cr
Total assetsRs 72 Cr
Net blockRs 20 Cr
Capital work in progressRs 3 Cr
ReceivablesRs 21 Cr
InventoryRs 24 Cr
Other liabilitiesRs 12 Cr
Shares outstanding (crore)1.43
Ownership
Promoter holding72.99%
Computed by MarketFriction from the standalone statements. Returns use average balances.
Not enough history to build valuation bands (needs two years of profits and prices).
| Period | HAPPY | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -3.7% | -2.8% | -0.9 pts |
| 1 month | -12.3% | -6.8% | -5.6 pts |
Red flags
F-score 3 of 6| explain | Debt up, profit down Borrowings up 33% while net profit fell in 2026 |
| explain | Low interest cover Interest cover 1.0x in 2026 |
| look | Profit leans on other income Other income was 1467% of pre-tax profit in 2026 |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
No quarterly results published.
Activity
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No bulk or block deals on record.
No corporate actions on record.
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
High low price variation greater than 75perc in previous 3 monthsLess than 100 unique PAN traded in previous 30 daysSME scrip is not regularly traded
Quick answers
What is the market cap of Happy Steels Ltd?
Happy Steels Ltd (HAPPY) has a market capitalisation of Rs 107 Cr. at the 2026-10-01 close.
What is the P/E ratio of Happy Steels Ltd?
Happy Steels Ltd trades at a P/E of 14.9 on trailing twelve-month profit, at the 2026-10-01 close.
What is the 52-week high and low of Happy Steels Ltd?
The 52-week high is Rs 104.40 and the 52-week low is Rs 57.00.