 "Happy Forgings jumps over 7% on bagging order worth Rs 500 crore")
Happy Forgings shares have jumped as much as 7.16 per cent to hit an intraday high of Rs 969.45 per share on Monday, after the company secured an order worth Rs 500 crore.
However, the annual value of the order ranges from Rs 69 crore to Rs 70 crore per annum, totalling approximately Rs 500 crore over the entire period.
Happy Forgings, in an exchange filing said, “...it is hereby informed that the company has obtained an order from a leading global tier 1 manufacturer of automobile driveline components and systems.”
Under the terms of the contract, Happy Forgings will be responsible for manufacturing as well as supplying brake flanges for passenger vehicles (utility vehicles / pickup trucks).
The deal is set to start from Q4 of FY 2026 or Q1 of FY 2027. Happy Forgings is expected to complete the order by December 2034.
The market capitalisation of Happy Forgings stood at Rs 9,031.42 crore, as of 10:42 am.
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Financial performance
Happy Forgings top line stood at Rs 342 crore in the December quarter (Q3FY24). The company’s profit came in at Rs 57.9 crore, while its earnings before interest, taxes, depreciation and amortisation margin (EBITDA margin), also known as operating profit margin, stood at 28.80 per cent.
The 52-week high of the stock is Rs 1,087.85 while its 52-week low is Rs 813.55 per share, according to BSE.
As of 10:44 am, shares of Happy Forgings were trading 6.75 per cent higher at Rs 965.65 per share, as compared to the S&P BSE SmallCap, which was up 0.92 per cent during the same period.