Happy Forgings Limited (BOM:544057)

Happy Forgings Cash Flow Statement

Financials in millions INR. Fiscal year is April - March.

Operating Activities

Fiscal Year	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Net Income	3,016	2,674	2,430	2,087	1,423
Depreciation & Amortization	890.43	770.61	647.28	538.35	374.77
Other Amortization	-	-	-	3.47	2.63
Loss (Gain) From Sale of Assets	-1	1.21	-0.04	-0.46	-
Asset Writedown & Restructuring Costs	6.61	2.33	3.13	15.8	-
Loss (Gain) From Sale of Investments	-108.08	-5.85	-25.4	25.58	-7.24
Loss (Gain) on Equity Investments	-	-	-	-0.05	-0.05
Stock-Based Compensation	24.56	50.87	56.71	-	-
Provision & Write-off of Bad Debts	8.89	2.09	4.75	1.84	0.58
Other Operating Activities	20.03	-86.51	10.05	202.46	97.75
Change in Accounts Receivable	345.95	-669.88	-479.88	-827.23	-561.04
Change in Inventory	-3.35	-82.54	-545.63	143.81	-624.17
Change in Accounts Payable	140.74	-101.73	77.99	34.94	63.59
Change in Other Net Operating Assets	105.59	368.37	-284.42	-130.94	33.23
Operating Cash Flow	4,447	2,923	1,894	2,095	802.94
Operating Cash Flow Growth	52.11%	54.32%	-9.56%	160.86%	61.06%

Investing Activities

Fiscal Year	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Capital Expenditures	-4,543	-2,711	-1,893	-1,746	-1,908
Sale of Property, Plant & Equipment	2,978	2.92	0.34	1	-
Sale (Purchase) of Intangibles	-69.39	-97.21	-48.36	-	-
Investment in Securities	-3,546	-591.73	-2,765	15.42	230.44
Other Investing Activities	212.13	195.31	8.93	4.92	21.18
Investing Cash Flow	-4,968	-3,202	-4,697	-1,725	-1,657

Financing Activities

Fiscal Year	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Short-Term Debt Issued	1,023	845.57	86.67	-	426.03
Long-Term Debt Issued	-	-	-	169.53	512.97
Total Debt Issued	1,023	845.57	86.67	169.53	939
Short-Term Debt Repaid	-	-	-	-272.99	-7.87
Long-Term Debt Repaid	-7	-	-841.76	-148.02	-36.52
Total Debt Repaid	-7	-	-841.76	-421.01	-44.39
Net Debt Issued (Repaid)	1,016	845.57	-755.09	-251.48	894.61
Issuance of Common Stock	20.57	7.09	4,000	-	-
Common Dividends Paid	-282.85	-376.82	-116.35	-	-
Other Financing Activities	-104.74	-74.1	-319.4	-118.62	-69.41
Financing Cash Flow	649.32	401.73	2,809	-370.1	825.2

Net Cash Flow

Fiscal Year	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Net Cash Flow	127.71	123.03	6.3	-0.07	-28.66

Free Cash Flow

Fiscal Year	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Free Cash Flow	-96.49	212.01	1.54	348.7	-1,105
Free Cash Flow Growth	-	13675.96%	-99.56%	-	-
Free Cash Flow Margin	-0.62%	1.50%	0.01%	2.91%	-12.85%
Free Cash Flow Per Share	-1.02	2.25	0.02	3.90	-12.35
Levered Free Cash Flow	38.27	-1,555	-566.07	42.98	-1,197
Unlevered Free Cash Flow	99.69	-1,511	-497.26	117.42	-1,157

Additional Metrics

Fiscal Year	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Cash Interest Paid	104.74	74.1	129.72	118.62	67.91
Cash Income Tax Paid	932.05	832.26	838.64	638.36	431.08
Change in Working Capital	588.94	-485.78	-1,232	-779.42	-1,088

Data Source: S&P Global Market Intelligence Last updated: Mar 31, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Jul 28, 2026

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