---
title: "Happy Steels Ltd (HAPPY) — Share Price, Financials & Analysis"
symbol: "HAPPY"
company: "Happy Steels Ltd"
canonical: "https://tapetide.com/stocks/HAPPY"
isin: "INE1GFG01011"
nse_symbol: "HAPPY"
sector: "Consumer Discretionary"
industry: "Auto Components"
market_cap_cr: 122.93
generated_at: "2026-09-13T18:57:42.408Z"
---

# Happy Steels Ltd (HAPPY)

Canonical page: https://tapetide.com/stocks/HAPPY

## Company

- **NSE Symbol:** HAPPY
- **ISIN:** INE1GFG01011
- **Sector:** Consumer Discretionary
- **Industry:** Auto Components
- **Macro Sector:** Consumer Discretionary
- **Stock Type:** EQUITY
- **Listed Since:** 2026-07-16
- **Face Value:** ₹10
- **F&O Eligible:** No

## About

Incorporated in 1996, Happy Steel Limited is 
an integrated manufacturer of safety-critical, forged, and machined transmission and driveline components.[1]

## Latest Price

- **Price:** ₹88.95
- **Change:** -1.05 (-1.17%)
- **Open:** ₹86.05
- **Day High:** ₹89.5
- **Day Low:** ₹86.05
- **Previous Close:** ₹90
- **Volume:** 14000
- **As Of:** 2026-09-11T09:12:31+00:00

## Key Fundamentals

Observed at 2026-09-11T04:33:31.231928Z.

- **Market Cap:** ₹122.93 Cr
- **Classification:** SME
- **P/E (reported):** 18.1
- **Book Value:** ₹45.49
- **Price to Book:** 1.98
- **Dividend Yield:** 0%
- **ROE:** 17.76%
- **ROCE:** 20.5%
- **Debt to Equity:** 1.18
- **Revenue (yearly):** ₹96.6 Cr
- **Net Income:** ₹7.1 Cr
- **EBITDA:** ₹15.3 Cr
- **52-Week High:** ₹104.4
- **52-Week Low:** ₹57
- **RSI (14):** 58.76

## Key Insights

### Strengths

- Company has delivered good profit growth of 39.4% CAGR over last 5 years
- Debtor days have improved from 73.4 to 49.2 days.

### Weaknesses

- The company has delivered a poor sales growth of 4.13% over past five years.
- Company has a low return on equity of 13.0% over last 3 years.
- Company might be capitalizing the interest cost

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| cash flow growth | -42.93% | 258.31% | 5.81% |
| ebitda margin growth | 53.74% | 17.45% | 319.63% |
| net income growth | 208.7% | 164% | 39% |
| revenue growth | 17.09% | 0% | 4% |
| roce | 57.45% | 2.24% | 13.13% |
| roe | 149.44% | 13.41% | — |

## Financial Statements

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Sales | 77.3 | 88.3 | 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 | 0.2 | 1.33 | 0.38 | 1.84 |
| Interest | 1.34 | 1.36 | 2.63 | 2.54 | 2.86 | 2.62 |
| Depreciation | 1.92 | 1.83 | 2.2 | 2.17 | 2.43 | 3.13 |
| Profit before tax | 0.07 | 0.03 | 0.55 | 6.36 | 3.2 | 9.52 |
| Tax % | 71.43 | 100 | 21.82 | 26.42 | 26.88 | 25.42 |
| Net Profit | 0.03 | 0.01 | 0.43 | 4.69 | 2.34 | 7.1 |
| EPS in Rs | — | — | — | — | — | 6.76 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 1.5 | 1.5 | 1.5 | 1.5 | 1.5 | 10.5 |
| 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 | 12.5 |
| Total Liabilities | 65.87 | 72.15 | 69.5 | 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 | 0.22 | 2.66 | 8.46 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 46.72 | 49.03 | 47.35 | 53.9 | 50.83 | 59.45 |
| Total Assets | 65.87 | 72.15 | 69.5 | 78.38 | 78.62 | 99.66 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 0 | 0 | 0 | -3.67 | 10.18 | 5.81 |
| Cash from Investing Activity | 0 | 0 | 0 | -3.18 | -5.64 | -16.19 |
| Cash from Financing Activity | 0 | 0 | 0 | 6.77 | -4.34 | 10.34 |
| Net Cash Flow | 0 | 0 | 0 | -0.08 | 0.2 | -0.04 |
| Free Cash Flow | 0 | 0 | 0 | -6.89 | 8.15 | -4.99 |
| CFO/OP | 0 | 0 | 0 | -23 | 134 | 60 |

### Ratios

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 102.18 | 84.9 | 90.59 | 99.74 | 71.23 | 49.21 |
| Inventory Days | 180.56 | 186.74 | 137.82 | 251.4 | 258.92 | 303.17 |
| Days Payable | 47.71 | 29.97 | 67.39 | 48.55 | 50.6 | 40.68 |
| Cash Conversion Cycle | 235.03 | 241.68 | 161.02 | 302.59 | 279.55 | 311.7 |
| Working Capital Days | 69.6 | 53.2 | 55.2 | 83.59 | 75.76 | 62.21 |
| ROCE % | — | 1.97 | 5.58 | 12.92 | 8.91 | 15.86 |

## Shareholding Pattern

### Quarterly

| Category | Feb 2026 | Jul 2026 |
| --- | --- | --- |
| Promoters | 99.33% | 99.33% |
| FIIs | 0% | 0% |
| DIIs | 0% | 0% |
| Government | 0% | 0% |
| Public | 0% | 0% |
| Others | 0.67% | 0.67% |
| No. of Shareholders | 21 | 21 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Buy
- **Buy / Neutral / Sell:** 6 / 11 / 2

### Moving Averages — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 86.87 | Buy |
| EMA (10) | 87.08 | Buy |
| SMA (20) | 85.23 | Buy |
| EMA (20) | 83.63 | Buy |
| SMA (50) | — | Neutral |
| EMA (50) | — | Neutral |
| SMA (100) | — | Neutral |
| EMA (100) | — | Neutral |
| SMA (200) | — | Neutral |
| EMA (200) | — | Neutral |

### Oscillators — summary: **Neutral**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 57.52 | Neutral |
| MACD (12,26,9) | 5.29 | Sell |
| Stochastic (14,3,3) | 34 | Neutral |
| ADX (14) | 36.85 | Buy |
| Williams %R (14) | -62.05 | Neutral |
| ATR (14) | 6.3 | High Volatility |
| ROC (12) | -2.15 | Sell |
| Stoch RSI (14) | 15.7 | Buy |
| UO (7,14,28) | 62.18 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 8 Sep - Happy Steels Limited has informed about Copy of Newspaper Publication | [Copy of Newspaper Publication 8 Sep - Happy Steels Limited has informed about Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/HAPPYSTEELS_08092026121055_Letter_to_NSE.pdf) |
| 3 Sep - HAPPY Steels announces AGM e-voting period and 23 September 2026 cut-off date. | [Outcome of Board Meeting 3 Sep - HAPPY Steels announces AGM e-voting period and 23 September 2026 cut-off date.](https://nsearchives.nseindia.com/corporate/HAPPYSTEELS_03092026144004_HSL_Outcomes_of_Board_Meeting.pdf) |
| 3 Sep - Board approved FY26 Directors’ Report, internal auditor appointment, and 30th AGM on 30 September 2026. | [Outcome of Board Meeting 3 Sep - Board approved FY26 Directors’ Report, internal auditor appointment, and 30th AGM on 30 September 2026.](https://nsearchives.nseindia.com/corporate/HAPPYSTEELS_03092026144815_HSL_Outcome.pdf) |
| 3 Sep - AGM e-voting from 26 Sept 2026 to 29 Sept 2026; cut-off date fixed at 23 Sept 2026. | [Updates 3 Sep - AGM e-voting from 26 Sept 2026 to 29 Sept 2026; cut-off date fixed at 23 Sept 2026.](https://nsearchives.nseindia.com/corporate/HAPPYSTEELS_03092026145559_HSL_Notice_of_Cut_off_Date_and_E-Voting.pdf) |
| 27 Aug - 25 Aug 2026 reply to NSE clarifies price movement was market-driven. | [Price movement 27 Aug - 25 Aug 2026 reply to NSE clarifies price movement was market-driven.](https://nsearchives.nseindia.com/corporate/ramnivasy_27082026124933_Clarification_Letter.pdf) |
| 24 Aug - Investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, has written … | [Price movement 24 Aug - Investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, has written …](https://www.nseindia.com/companies-listing/corporate-filings-announcements?symbol=HAPPY&tabIndex=sme) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/SME_AR_31235_HAPPY_2025_2026_A_1922223_03092026165510.pdf) |

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Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:57:42.408Z.