Happy ForgingsNSE:HAPPYFORGE +0.64%48 Interest Coverage is 28.54 as of Mar. 2026, which is 5% below its 10-year median of 29.91. GuruFocus rates NSE:HAPPYFORGE with a GF Score™ of 48/100. The stock has 6 warning signs investors should review. Among 2,325 Industrial Products companies, Happy Forgings ranks better than 67.1% on this metric.
Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's
Operating Income
by its Interest Expense. Happy Forgings's
Operating Income
for the
three
months ended in Mar. 2026 was ₹1,088 Mil. Happy Forgings's Interest Expense for the
three
months ended in Mar. 2026 was ₹-38 Mil.
Happy Forgings's interest coverage for the quarter that ended in Mar. 2026 was 28.54.
The higher the ratio, the stronger the company's financial strength is.
The historical rank and industry rank for Happy Forgings's Interest Coverage or its related term are showing as below:
NSE:HAPPYFORGE'
s Interest Coverage Range Over the Past 10 Years
Min: 11.1 Med: 29.91 Max: 43.76
Current: 36.44
NSE:HAPPYFORGE's Interest Coverage is ranked better than 67.1% of 2325
companies
in the Industrial Products industry
Industry Median: 14.8
vs NSE:HAPPYFORGE: 36.44
Ben Graham requires that a company has a minimum interest coverage of 5 with the companies he invested. If the interest coverage is less than 2, the company is burdened by debt. Any business slow or recession may drag the company into a situation where it cannot pay the interest on its debt.
Interest Coverage is an important factor when GuruFocus ranks a company's overage Financial Strength .
Happy Forgings Interest Coverage Related Terms
Happy Forgings Interest Coverage Historical Data
* Premium members only.
The historical data trend for Happy Forgings's Interest Coverage 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.
Note: For Interest Coverage, "No debt" indicates no long-term debt. An indication of "No Debt" does not necessarily mean that the company has no long-term debt obligations; it could be due to missing data in the quarterly or annual report. Use caution when interpreting this information.
NSE:HAPPYFORGE vs CRS, ATI, MLI: Interest Coverage Comparison
For the Metal Fabrication subindustry, Happy Forgings's Interest Coverage, along with its competitors' market caps and Interest Coverage 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 Interest Coverage vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Happy Forgings's Interest Coverage distribution charts can be found below:
* The bar in red indicates where Happy Forgings's Interest Coverage falls into.
Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income (EBIT) by its Interest Expense:
* 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 (NSE:HAPPYFORGE) has a Interest Coverage of 28.54 as of Mar. 2026. Interest Coverage measures a company's capability to pay interest expenses on its debt. View historical data on Happy Forgings and its competitors. This is near median its historical median of 29.91. Over the past decade, Happy Forgings' Interest Coverage has ranged from 11.10 to 43.76. According to the industry distribution chart, Happy Forgings ranks #765 out of 2325 companies in the Industrial Products industry, placing it in the top 32.9%.
Is Happy Forgings' Interest Coverage too high?
Happy Forgings' current Interest Coverage of 28.54 is near median its 10-year median of 29.91. Over the past 10 years, this metric has ranged from a low of 11.10 to a high of 43.76. The Industrial Products industry median Interest Coverage is 14.80. Happy Forgings' value of 28.54 is 92.8% above this industry median. Based on the distribution chart, Happy Forgings ranks #765 out of 2325 companies in the Industrial Products industry, which is above the industry midpoint. Overall, Happy Forgings has a GF Score™ of 48/100, reflecting its overall financial health beyond just this single metric.
How does Happy Forgings' Interest Coverage compare to CRS and ATI?
According to the Industrial Products industry distribution chart, Happy Forgings ranks #765 out of 2325 companies for Interest Coverage. This puts Happy Forgings in the upper half of its industry. The industry median Interest Coverage is 14.80. Happy Forgings' value of 28.54 is 92.8% above this benchmark. Historically, Happy Forgings' own Interest Coverage has ranged from 11.10 to 43.76 over the past decade. While the company's 10-year median is 29.91 vs. the industry median of 14.80, Happy Forgings has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Interest Coverage for an Industrial Products company?
The median Interest Coverage among Industrial Products companies is 14.80, based on 2,325 companies in the industry. Companies in the top quartile (top 25%) have a Interest Coverage significantly above this median, while those in the bottom quartile fall well below. However, Interest Coverage should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Happy Forgings's current Interest Coverage of 28.54 is 92.8% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Interest Coverage mean?
A high Interest Coverage can signal that a stock is expensive relative to its fundamentals. Interest Coverage measures a company's capability to pay interest expenses on its debt. View historical data on Happy Forgings and its competitors. For the Industrial Products industry, the median Interest Coverage is 14.80 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Happy Forgings's current Interest Coverage is 28.54, which is near median its own 10-year median of 29.91. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Happy Forgings stock overvalued right now?
Happy Forgings (NSE:HAPPYFORGE) has a current Interest Coverage of 28.54. The current Interest Coverage is 28.54, which is near median its 10-year median of 29.91 and 92.8% above the Industrial Products industry median of 14.80. Happy Forgings' overall GF Score™ is 48/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Interest Coverage calculated?
Interest Coverage is calculated from a company's financial statements. For Happy Forgings (NSE:HAPPYFORGE), the current Interest Coverage is 28.54 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
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.
48GF Score
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