Buy Happy Forgings, target price Rs 1,300: Motilal Oswal Financial Services

Motilal Oswal Financial Services has a buy call on Happy Forgings with a target price of Rs 1,300. The current market price of Happy Forgings is Rs 1030. Happy Forgings., incorporated in 1979, is a Small Cap company with a market cap of Rs 9701.69 crore, operating in the Auto Ancillaries sector.

Happy Forgings' key products/revenue segments include Auto Parts, Scrap, Sale of services and Other Operating Revenue for the year ending 31-Mar-2024.

Financials

For the quarter ended 30-09-2024, the company has reported a Consolidated Total Income of Rs 374.21 crore, up 7.20% from last quarter Total Income of Rs 349.07 crore and up 8.86 % from last year same quarter Total Income of Rs 343.75 crore. The company has reported net profit after tax of Rs 71.37 crore in latest quarter.

The company's top management includes Mr.Paritosh Kumar, Mr.Ashish Garg, Mr.Narinder Singh Juneja, Ms.Megha Garg, Mr.Satish Sekhri, Mr.Vikas Giya, Mr.Atul Behari Lall, Ms.Rajeswari Karthigeyan, Mr.Ravindra Pisharody. Company has S R Batliboi & Co LLP as its auditors. As on 30-09-2024, the company has a total of 9 Crore shares outstanding.

Promoter/FII Holdings
Promoters held 78.6 per cent stake in the company as of 30-Sep-2024, while FIIs owned 2.27 per cent, DIIs 17.13 per cent.