Happy Forgings Gets 'Buy' Rating As ICICI Securities Initiates Coverage

Given Happy Forgings’ current scale and a large addressable global opportunity, especially owing to the shifting global landscape, we see long-term runway for growth..NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.Happy Forgings Ltd. is a leading manufacturer of complex, heavy-forged and precision-machined components. Happy Forgings’ focus on enhancing its capabilities has helped expand the company’s product portfolio and customer base across diverse segments (commercial vehicle, passenger vehicle, farm, OHV, industrials) and geographies. This has enabled Happy Forgings to consistently outperform the underlying industry. Given Happy Forgings’ current scale and a large addressable global opportunity, especially owing to the shifting global landscape, we see long-term runway for growth. With ~20% pre-tax RoCE (depressed due to high capex phase), we expect Happy Forgings to deliver ~13% earnings CAGR during FY25–28E despite a muted outlook for the underlying industry. We initiate coverage on Happy Forgings with a Buy rating and target price of Rs 1,150 based on 30x Sep’27E EPS..Click on the attachment to read the full report:.Siemens Energy Gets 'Buy' Rating As HDFC Securities Initiates Coverage.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Happy Forgings Gets 'Buy' Rating As ICICI Securities Initiates Coverage

ICICI Securities initiates coverage on Happy Forgings with a Buy rating and target price of Rs 1,150 based on 30x Sep’27E EPS.

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