Happy Forgings share price target: 2024, 2025, 2026, 2027, 2028, 2029, and 2030

In this article, we will try to analyze the Happy Forgings share price target for 2024, 2025, 2026, 2027, 2028, 2029, and 2030 based on the company’s financials and various reports from research and brokerage firms.

IPO Review-

Experts say the IPO gives a worthy option for investors seeking exposure to the manufacturing sector. Track record and promising outlook of the company are additional bonuses that come with investing in this IPO.

Bidding Dates	19 Dec 2023-21 Dec 2023
Price Range	808 – 850 INR
Issue Size	1,008.59 Cr
Fresh Issue	400 Cr
Offer for Sale	609 Cr
Purpose of issue	Repayment of borrowings, Purchase of equipment,

Recent News-

In this IPO about 50% of the offer is reserved for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors.

The IPO of Happy Forgings was subscribed 7.47 times as of December20, 2023. Retail Investors and NIIs were subscribed 7.42 times and 16.5 times, respectively. Happy Forgings has a GMP of Rs 444 in the grey market.

Company Overview-

Happy Forgings engaged in manufacturing and design of heavy forgings and high-precision machined components. Happy Forgings primarily serves original equipment manufacturers (OEM) engaged in the production of commercial vehicles. The company also forged and machined products like transmission parts, front axle beams, steering knuckles, planetary carriers, suspension brackets and valve bodies across industries for different base of customers.

Financials–

The company has reported revenue in H1 Rs 600 Cr, while profit stood at Rs 116 cr.

In FY23, revenue rose 39% to Rs 1196 Cr and profit jumped 47% to Rs 209 Cr.

The company has delivered compounded profit growth 38% in last 3 years.

The company has delivered compounded sales growth 29% in last 3 years.

The company has delivered Return on Equity 20% in last 3 years.

Market Cap	9,217
P/E Ratio	44.17
Industry P/E	34.95
Debt to Equity	0.22
Return on Equity	21.12%
Dividend Yield	0.13%

Net-profit margin-

Year	Revenue	Profit
2023	1,196.53	208.70
2022	860.05	142.29
2021	584.96	86.45

All values are in crore

Share price targets for Happy Forgings are highly speculative and influenced by numerous factors, such as market conditions, economic indicators, company performance, industry trends, and many more.

We will predict the Happy Forgings share price target in 2024, 2025, 2026, 2027, 2028, 2029, and 2030 by analyzing the previous performance and after studying various brokerage and research firm forecasts.

The share price of Happy Forgings is expected to continue experiencing volatility throughout the year, with a maximum price target of Rs 1026 in December 2024 and a minimum price target of Rs 936 in March 2024. The average price target for Happy Forgings in 2024 is expected to be around Rs 955.

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Stockmoodys

Happy forgings Share price target prediction for 2024 is based on the company’s financials, previous trends, and various brokerage firm reports.

The share price of Happy Forgings is expected to continue experiencing volatility throughout the year, with a maximum price target of Rs 1436 in December 2025 and a minimum price target of Rs 1205 in March 2025. The average price target for Happy Forgings in 2025 is expected to be around Rs 1355.

Happy forgings Share price target prediction for 2025 is based on the company’s financials, previous trends, and various brokerage firm reports.

The share price of Happy Forgings is expected to continue experiencing volatility throughout the year, with a maximum price target of Rs 1946 in December 2026 and a minimum price target of Rs 1485 in March 2026. The average price target for Happy Forgings in 2026 is expected to be around Rs 1683

Happy forgings Share price target prediction for 2026 is based on the company’s financials, previous trends, and various brokerage firm reports.

The share price of Happy Forgings is expected to continue experiencing volatility throughout the year, with a maximum price target of Rs 2005 in December 2027 and a minimum price target of Rs 1745 in March 2027. The average price target for Happy Forgings in 2027 is expected to be around Rs 1888.

Happy forgings Share price target prediction for 2027 is based on the company’s financials, previous trends, and various brokerage firm reports.

The share price of Happy Forgings is expected to continue experiencing volatility throughout the year, with a maximum price target of Rs 2215 in December 2028 and a minimum price target of Rs 1955 in March 2028. The average price target for Happy Forgings in 2028 is expected to be around Rs 2105.

Happy forgings Share price target prediction for 2028 is based on the company’s financials, previous trends, and various brokerage firm reports.

The share price of Happy Forgings is expected to continue experiencing volatility throughout the year, with a maximum price target of Rs 2694 in December 2025 and a minimum price target of Rs 2384 in March 2029. The average price target for Happy Forgings in 2029 is expected to be around Rs 2525.

Happy forgings Share price target prediction for 2029 is based on the company’s financials, previous trends, and various brokerage firm reports.

The share price of Happy Forgings is expected to continue experiencing volatility throughout the year, with a maximum price target of Rs 3074 in December 2030 and a minimum price target of Rs 2655 in March 2030. The average price target for Happy Forgings in 2030 is expected to be around Rs 2854.

Happy forgings Share’s price target prediction for 2030 is based on the company’s financials, previous trends, and various brokerage firm reports.

Strengths of Happy Forgings

Happy Forging has experienced an increase in revenue from the sale of machined products, rising from Rs 399 Cr in FY2021 to 839 Cr in FY2023.

The company has reflects a CAGR of 44.99%.

Weaknesses of Happy Forgings

Happy Forgings relies on the top 10 customers, the potential loss of any of these customers could significantly impact its business and financial health.

The company has debt as of October 31, 2023, amounted to Rs 259 Cr.

The cost of steel can significantly influence Happy Forgings’ business and profitability.

The company has zero net cash flow. Cash conversion cycle is 175 days long.

Competitor

Name	Market Cap	P/E Ratio
Bharat Forge	54742	83.63
AIA Engineering	33382	27.46
CIE Automotive	17651	23.01
TVS Holdings	16400	23.74
Ramkrishna Forgings	12927	44.54

Conclusion–

The company is an engineering based manufacturer of safety-critical, heavy forged and high-precision machined components. We recommended subscribing to the IPO, given the long-term opportunities in global forgings and machining, expansion of exports, and strong financials.