Happy Forgings Q4 Results Review - Healthy Performance Despite Weakness In Core Segments: Motilal Oswal

"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..Motilal Oswal Report.Happy Forgings Ltd.'s Q4 FY24 results were operationally in line with our expectations, while higher ‘other income’ and lower tax led to profit after tax beat at Rs 658 million (estimate: Rs 607 million), up by 30% YoY. Happy Forgings maintains its focus on diversifying into industrials and exports, which contributed ~12%/20% of FY24 revenue, compared to 4%/12% in FY23. Currently, exports constitute 60% of the company’s order book. We raise FY25E/26E earnings by ~3.5%/4.8% to factor in for better-than expected outlook for underlying industries, new order wins, and higher other income. We remain upbeat on Happy Forgings’ strategy to grow beyond its core segments, which is further complemented by its recent order wins, especially in passenger vehicles and exports. Given its consistent new order wins and huge growth opportunities ahead, we raise our target multiple to 28 times from 26 times earlier. Reiterate Buy with a target price of Rs 1,260..Click on the attachment to read the full report:.Stove Kraft Q4 Results Review - COCO Stores To Drive Both Topline, Margins: Nirmal Bang.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 Q4 Results Review - Healthy Performance Despite Weakness In Core Segments: Motilal Oswal

Order book stands at Rs 6.5 billion, of which 60% is attributable to exports

NDTV Profit

NDTV Profit

Follow Us

DOWNLOAD THE APP

Happy Forgings Q4 Results Review - Healthy Performance Despite Weakness In Core Segments: Motilal Oswal

Order book stands at Rs 6.5 billion, of which 60% is attributable to exports

Choose a plan

Follow Us

DOWNLOAD THE APP