Happy Forgings (NSE:HAPPYFORGE) Debt-to-Equity: N/A (As of Jun. 2026)

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Director of Data and Quant Analytics at GuruFocus
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Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

NSE:HAPPYFORGE Happy Forgings Ltd NSE:HAPPYFORGE
57 GF Score
Price ₹2,211.80
GF Value ₹1,350.48
Valuation Significantly Overvalued
! 4 Warning Signs
View Full Analysis

What is Happy Forgings Debt-to-Equity?

Happy Forgings's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Jun. 2026 was ₹0 Mil. Happy Forgings's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Jun. 2026 was ₹0 Mil. Happy Forgings's Total Stockholders Equity for the quarter that ended in Jun. 2026 was ₹0 Mil.

A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.

The historical rank and industry rank for Happy Forgings's Debt-to-Equity or its related term are showing as below:

NSE:HAPPYFORGE' s Debt-to-Equity Range Over the Past 10 Years
Min: 0.09   Med: 0.16   Max: 0.31
Current: 0.16

During the past 6 years, the highest Debt-to-Equity Ratio of Happy Forgings was 0.31. The lowest was 0.09. And the median was 0.16.

NSE:HAPPYFORGE's Debt-to-Equity is ranked better than
65.61% of 2690 companies
in the Industrial Products industry
Industry Median: 0.29 vs NSE:HAPPYFORGE: 0.16

Happy Forgings  (NSE:HAPPYFORGE) Debt-to-Equity Explanation

In the calculation of Debt to Equity, we use the total of Short-Term Debt & Capital Lease Obligation and Long-Term Debt & Capital Lease Obligation divided by Total Stockholders Equity. In some calculations, Total Liabilities is used to for calculation.

Be Aware

Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.

Happy Forgings Debt-to-Equity Related Terms

Happy Forgings Debt-to-Equity Historical Data

* Premium members only.

The historical data trend for Happy Forgings's Debt-to-Equity can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Happy Forgings Debt-to-Equity Chart

Happy Forgings Annual Data
Trend Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Debt-to-Equity
Get a 7-Day Free Trial 0.31 0.22 0.09 0.12 0.16

Happy Forgings Quarterly Data
Mar21 Mar22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Debt-to-Equity Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only N/A 0.10 N/A 0.16 N/A

NSE:HAPPYFORGE vs CRS, ATI, MLI: Debt-to-Equity Comparison

For the Metal Fabrication subindustry, Happy Forgings's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Happy Forgings Debt-to-Equity vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, Happy Forgings's Debt-to-Equity distribution charts can be found below:

* The bar in red indicates where Happy Forgings's Debt-to-Equity falls into.


NSE:HAPPYFORGE
57GF Score
Happy Forgings Ltd NSE:HAPPYFORGE
Debt-to-Equity is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Happy Forgings Debt-to-Equity Calculation

Debt to Equity measures the financial leverage a company has.

Happy Forgings's Debt to Equity Ratio for the fiscal year that ended in Mar. 2026 is calculated as

Debt to Equity=Total Debt / Total Stockholders Equity
=(Short-Term Debt & Capital Lease Obligation + Long-Term Debt & Capital Lease Obligation) / Total Stockholders Equity
=(3296.225 + 0) / 21281.25
=0.15

Happy Forgings's Debt to Equity Ratio for the quarter that ended in Jun. 2026 is calculated as

Debt to Equity=Total Debt / Total Stockholders Equity
=(Short-Term Debt & Capital Lease Obligation + Long-Term Debt & Capital Lease Obligation) / Total Stockholders Equity
=(0 + 0) / 0
=N/A

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Is Happy Forgings (NSE:HAPPYFORGE) Overvalued in 2026?

Based on GuruFocus' analysis, Happy Forgings stock appears to be overvalued. The current stock price of ₹2,211.80 is trading 63.8% above its estimated GF Value™ of ₹1,350.48. GuruFocus considers Happy Forgings to be Significantly Overvalued.

Key valuation signals for NSE:HAPPYFORGE:

  • Debt-to-Equity: N/A
  • GF Value™: ₹1,350.48 vs. price of ₹2,211.80 (63.8% above fair value)
  • GF Score™: 57/100 with 4 warning signs

No single metric tells the full story. See the NSE:HAPPYFORGE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Happy Forgings Business Description

Other Exchanges 544057:India
Address H.B 220, Post Office - Rajgarh, Village Dugri, Ludhiana, PB, IND, 141 421
Happy Forgings Ltd is a manufacturer specializing in designing and manufacturing heavy forgings and high-precision machined components. The company manufactures, designs, and tests various products such as crankshafts, front axle carriers, steering knuckles, differential housings, transmission parts, pinion shafts, suspension products, and valve bodies for different industries and customers. The Company business comprises only the Forging segment where the company sells forged products comprising of forgings and machined components for the automotive and industrial sectors. The company generates the majority of its revenue within India.
57GF Score

Get the complete analysis for NSE:HAPPYFORGE

Debt-to-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

₹2,211.80
Price
₹1,350.48
GF Value