Happy Forgings Limited (HAPPYFORGE.NS)

Happy Forgings Limited (HAPPYFORGE.NS) — VMCI valuation read

Happy Forgings Limited sits at VMCI 50/100, with the Industrials sector median at 50. That 0-point spread is the first thing to note on HAPPYFORGE.NS: it tells the reader the composite is unfavorable before any single ratio is examined, and the mid-cap tier sets the comparison set.

Form 4 disclosures on HAPPYFORGE.NS are blank for the trailing 30 days. With the insider channel offline, the EV/EBITDA delta, free-cash-flow trajectory, and the next earnings print do the talking.

**Investor frame.** The Value read on HAPPYFORGE.NS: HAPPYFORGE.NS trades at 20.0x earnings, 11% above the Industrials median of 18.0x, with EV/EBITDA at 13.0x against 12.0x. The Quality read: ROIC of 12.0% sits 2.0pp above the Industrials median (10.0%). The Risk read: net debt to EBITDA of -1.6x leaves covenant headroom, anchoring the bear scenario on a measurable balance-sheet metric.

HAPPYFORGE.NS fell 1.2% over the trailing 7 days, with a -18.0% read on a 30-day basis.