Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
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.
Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. Happy Forgings's average diluted shares outstanding for the quarter that ended in Jun. 2026 was 94 Mil.
A company may buy back shares or issue shares in any fiscal period. If a company buys back shares, we should observe that the total number of shares decline. If the company issues new shares, the number of shares outstanding increases.
Be Aware
Usually the presence of treasury shares and a history of buyback are good indicators that company has competitive advantage. But studies have shown that companies usually buy back at wrong time. Buying back shares below its intrinsic value increases value for remaining shareholders. Buying back overvalued shares destroys value for existing shareholders.
Happy Forgings Shares Outstanding (Diluted Average) Related Terms
Happy Forgings Shares Outstanding (Diluted Average) Historical Data
* Premium members only.
The historical data trend for Happy Forgings's Shares Outstanding (Diluted Average) 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.
Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. They have voting rights and represent ownership in the corporation by the person that holds the shares. They should be distinguished from treasury shares, which are shares held by the corporation itself, having no exercisable rights.
Shares outstanding can be calculated as either basic or fully diluted. The fully diluted shares outstanding count includes diluting securities, such as options, warrants or convertibles.
Please note: GuruFocus named Shares Outstanding (EOP) is the shares for that exact time point. It is usually used to calculate balance sheet related items, such as Book Value per Share, etc. While Shares Outstanding (Diluted Average) and Shares Outstanding (Basic Average) are the weighted average shares over a period of time (a year, a quarter, or so). They are usually used to calculate income statement or cashflow statement related items, such as Earnings per Share (Diluted), etc.
What does a Shares Outstanding (Diluted Average) of 94 Mil mean?
Happy Forgings (NSE:HAPPYFORGE) has a Shares Outstanding (Diluted Average) of 94 Mil as of Jun. 2026. The average shares outstanding over two periods including dilutive securities like preferred shares and convertibles. View historical data on Happy Forgings and its competitors.
Is Happy Forgings' Shares Outstanding (Diluted Average) too high?
Happy Forgings' current Shares Outstanding (Diluted Average) is 94 Mil. Overall, Happy Forgings has a GF Score™ of 58/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Happy Forgings' Shares Outstanding (Diluted Average) compare to ATI and CRS?
Happy Forgings' Shares Outstanding (Diluted Average) of 94 Mil can be compared against companies in the Industrial Products industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Shares Outstanding (Diluted Average) for an Industrial Products company?
A good Shares Outstanding (Diluted Average) depends on the Industrial Products industry context. However, Shares Outstanding (Diluted Average) should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Shares Outstanding (Diluted Average) mean?
A high Shares Outstanding (Diluted Average) can signal that a stock is expensive relative to its fundamentals. The average shares outstanding over two periods including dilutive securities like preferred shares and convertibles. View historical data on Happy Forgings and its competitors. Happy Forgings's current Shares Outstanding (Diluted Average) is 94 Mil. 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?
Based on GuruFocus' analysis, Happy Forgings (NSE:HAPPYFORGE) is currently considered Significantly Overvalued. The stock's GF Value™ is ₹1,363.43, compared to a current price of ₹2,256.70 — trading 65.5% above its estimated fair value. The current Shares Outstanding (Diluted Average) is 94 Mil. Happy Forgings' overall GF Score™ is 58/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Shares Outstanding (Diluted Average) calculated?
Shares Outstanding (Diluted Average) is calculated from a company's financial statements. For Happy Forgings (NSE:HAPPYFORGE), the current Shares Outstanding (Diluted Average) is 94 Mil as of Jun. 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.
Is Happy Forgings (NSE:HAPPYFORGE) Overvalued in 2026?
Based on GuruFocus' analysis, Happy Forgings stock appears to be overvalued.
The current stock price of ₹2,256.70 is trading 65.5% above its estimated GF Value™ of ₹1,363.43.
GuruFocus considers Happy Forgings to be Significantly Overvalued.
Key valuation signals for NSE:HAPPYFORGE:
Shares Outstanding (Diluted Average): 94 Mil
GF Value™: ₹1,363.43 vs. price of ₹2,256.70 (65.5% above fair value)
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 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.
58GF Score
Get the complete analysis for NSE:HAPPYFORGE
Shares Outstanding (Diluted Average) is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
NSE:HAPPYFORGE has been successfully added to your 
