Happy Forgings (NSE:HAPPYFORGE) ROCE %: 21.10% (As of Mar. 2026)


NSE:HAPPYFORGE Happy Forgings Ltd NSE:HAPPYFORGE
48 GF Score
Price ₹1,509.30
! 6 Warning Signs
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What is Happy Forgings ROCE %?

Happy Forgings NSE:HAPPYFORGE -1.28% 48 ROCE % is 21.10% as of Mar. 2026. GuruFocus rates NSE:HAPPYFORGE with a GF Score™ of 48/100. The stock has 6 warning signs investors should review.

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. Happy Forgings's annualized ROCE % for the quarter that ended in Mar. 2026 was 21.10%.

Happy Forgings  (NSE:HAPPYFORGE) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

Happy Forgings ROCE % Related Terms

Happy Forgings ROCE % Historical Data

* Premium members only.

The historical data trend for Happy Forgings's ROCE % 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 ROCE % Chart

Happy Forgings Annual Data
Trend Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
ROCE %
Get a 7-Day Free Trial 25.11 29.88 24.72 20.78 20.29

Happy Forgings Quarterly Data
Mar21 Mar22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
ROCE % 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 19.49 19.26 20.10 21.23 21.10
NSE:HAPPYFORGE
48GF Score
Happy Forgings Ltd NSE:HAPPYFORGE
ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.
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Happy Forgings ROCE % Calculation

Happy Forgings's annualized ROCE % for the fiscal year that ended in Mar. 2026 is calculated as:

ROCE %=EBIT/( (Capital Employed+Capital Employed)/ count )
(A: Mar. 2026 )  (A: Mar. 2025 )(A: Mar. 2026 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(A: Mar. 2026 )  (A: Mar. 2025 )(A: Mar. 2026 )
=4124.557/( ( (22152.226 - 3263.487) + (26328.077 - 4556.892) )/ 2 )
=4124.557/( (18888.739+21771.185)/ 2 )
=4124.557/20329.962
=20.29 %

Happy Forgings's ROCE % of for the quarter that ended in Mar. 2026 is calculated as:

ROCE %=EBIT (1)/( (Capital Employed+Capital Employed)/ count )
(Q: Mar. 2026 )  (Q: Dec. 2025 )(Q: Mar. 2026 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(Q: Mar. 2026 )  (Q: Dec. 2025 )(Q: Mar. 2026 )
=4594.752/( ( (0 - 0) + (26328.077 - 4556.892) )/ 1 )
=4594.752/( ( 0 + 21771.185 )/ 1 )
=4594.752/21771.185
=21.10 %

(1) Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

* 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.

Frequently Asked Questions Learn more about ROCE % →
What does a ROCE % of 21.10% mean?
Happy Forgings (NSE:HAPPYFORGE) has a ROCE % of 21.10% as of Mar. 2026.
Is Happy Forgings' ROCE % too high?
Happy Forgings' current ROCE % is 21.10%. The Industrial Products industry median ROCE % is 7.09. Happy Forgings' value of 21.10% is 197.6% above this industry median. Overall, Happy Forgings has a GF Score™ of 48/100, reflecting its overall financial health beyond just this single metric.
How does Happy Forgings' ROCE % compare to ATI and CRS?
Happy Forgings' ROCE % of 21.10% can be compared against companies in the Industrial Products industry. The industry median ROCE % is 7.09. Happy Forgings' value of 21.10% is 197.6% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROCE % for an Industrial Products company?
The median ROCE % among Industrial Products companies is 7.09, based on 3,027 companies in the industry. Companies in the top quartile (top 25%) have a ROCE % significantly above this median, while those in the bottom quartile fall well below. However, ROCE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Happy Forgings's current ROCE % of 21.10% is 197.6% 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 ROCE % mean?
A high ROCE % can signal that a stock is expensive relative to its fundamentals. For the Industrial Products industry, the median ROCE % is 7.09 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Happy Forgings's current ROCE % is 21.10%. 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 ROCE % of 21.10%. The current ROCE % is 21.10% and 197.6% above the Industrial Products industry median of 7.09. 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 ROCE % calculated?
ROCE % is calculated from a company's financial statements. For Happy Forgings (NSE:HAPPYFORGE), the current ROCE % is 21.10% 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 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.
48GF Score

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

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