Happy Forgings

Happy Forgings Net Debt/Equity

The Net Debt to Equity Ratio of Happy Forgings (HAPPYFORGE.NS) as of Oct 19, 2026 is 0.02. In the previous year, Net Debt to Equity Ratio was 0.01 — a change of 190.90% (higher).

Net Debt/Equity

0.02

YoY

190.90%

Last updated:

Net Debt to Equity Ratio of Happy Forgings is 2025 0.02 . Net Debt to Equity Ratio of Happy Forgings was 2024 0.01 . It decreases by 190.90% higher compared to the previous year.

The Happy Forgings Net Debt/Equity history

  • 3 Years

  • 10 Years

  • 25 Years

  • Max

Net Debt/Equity
Date
Net Debt/Equity
Jan 1, 2019
0.14 INR
Jan 1, 2020
0.19 INR
Jan 1, 2021
0.30 INR
Jan 1, 2022
0.22 INR
Jan 1, 2023
0.01 INR
Jan 1, 2024
0.01 INR
Jan 1, 2025
0.02 INR
The Happy Forgings Net Debt/Equity history
YEARNet Debt/EquityYoY
0.02+190.90%
0.01-51.62%
0.01-94.00%
0.22-27.22%
0.30+55.69%
0.19+39.92%
0.14—

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Happy Forgings Stock analysis

What does Happy Forgings do? Happy Forgings Ltd is an Indian company headquartered in Ludhiana, Punjab, operating in the Industrials sector within the Machinery industry. The company went public via an IPO on December 27, 2023. It manufactures heavy forged and high precision machined components, including crankshafts, differential cases, front axle components, railway parts, suspension products, transmission parts, and windmill application products. Among its windmill products, the company produces three critical components: the planet carrier, pinion shaft, and housing. For railway applications, it offers components such as camshafts, connecting rods, piston pins, and spacers. Happy Forgings Ltd primarily serves domestic and global original equipment manufacturers (OEMs) in the automotive sector, particularly those producing commercial vehicles. The company also supplies manufacturers of farm equipment, off-highway vehicles, and industrial equipment for sectors including oil and gas, power generation, railways, and wind turbines. Its website is https://happyforgingsltd.com. The company's ISIN is INE330T01021, and it trades under the ticker HAPPYFORGE.NS on the Indian stock market. Happy Forgings is one of the most popular companies on Eulerpool.

Frequently Asked Questions about Happy Forgings stock

Net Debt to Equity Ratio of Happy Forgings is 0.02 in 2025.

Net Debt to Equity Ratio of Happy Forgings changed from 0.01 to 0.02, representing a 190.90% change. The value is higher than the previous year.

On Eulerpool you can find the complete historical development of Net Debt to Equity Ratio Happy Forgings since 2006 – with annual values, charts, and detailed analysis.

Net Debt/Equity adjusts the debt-to-equity ratio by subtracting cash from total debt. It provides a more accurate picture of actual leverage.

A 'good' varies by industry and company stage. On Eulerpool, you can compare Net Debt to Equity Ratio's Happy Forgings with sector peers and the industry average to assess whether it is attractive.

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Leverage — Happy Forgings

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