Buy Happy Forgings, target price Rs 1125: Motilal Oswal

Motilal Oswal has buy call on Happy Forgings with a target price of Rs 1125. The current market price of Happy Forgings Ltd. is Rs 954.9.

Happy Forgings Ltd., incorporated in the year 1979, is a Small Cap company (having a market cap of Rs 8921.20 Crore) operating in Auto Ancillaries sector.

Happy Forgings Ltd. key Products/Revenue Segments include Auto Parts, Scrap, Other Operating Revenue, Sale of services and Job Work for the year ending 31-Mar-2023.



Financials
For the quarter ended 31-12-2023, the company reported a Standalone Total Income of Rs 345.31 Crore, up .45 % from last quarter Total Income of Rs 343.75 Crore and up 16.60 % from last year same quarter Total Income of Rs 296.15 Crore. Company reported net profit after tax of Rs 57.90 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 78.6 per cent stake in the company as of 31-Dec-2023, while FIIs owned 2.06 per cent, DIIs 5.82 per cent.