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BSE LIVE NSE LIVE 26 Aug, 2025 12:21 Volume Todays L/H More ×

Motilal Oswal's research report on Happy Forgings

One of the key investor concerns for Happy Forgings (HFL) has been its subdued revenue growth over the past few quarters, despite a strong order backlog, which is also reflected in the stock’s underperformance over the past 12M relative to the broader index. Notably, this slowdown in revenue growth has largely been led by its exposure to overseas markets, which are currently experiencing a marked slowdown. While demand outlook in key export markets continues to remain weak, we expect HFL’s revenue to start picking up from the coming quarters, driven by: 1) an expected pickup in the domestic CV and PV busines

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