Happy Forgings Reports Impressive Financial Results for Q1 2024, Indicating Positive Near-Term Growth

Happy Forgings, a leading player in the auto ancillary industry, has recently announced its financial results for the quarter ending March 2024. The company has reported impressive numbers, with a strong growth in key financial indicators.

According to the financial report, Happy Forgings has achieved its highest quarterly operating profit (PBDIT) of Rs 97.14 crore, with a consistent growth in the last five quarters. This indicates a positive trend in the company's near-term operating profit.

The company's profit before tax (PBT) less other income has also reached its highest at Rs 80.26 crore, with a steady growth in the last five quarters. This shows a very positive trend in the near-term PBT.

Happy Forgings has also recorded its highest quarterly profit after tax (PAT) of Rs 65.79 crore, with a growth in each of the last five quarters. This reflects a very positive trend in the near-term PAT.

In terms of net sales, the company has achieved its highest at Rs 343.34 crore in the last five quarters, indicating a positive trend in the near-term sales.

Moreover, the company's PAT has grown at an impressive rate of 28.1% over the average PAT of the previous four quarters, reaching Rs 65.79 crore. This further highlights the positive trend in the company's near-term PAT.

Happy Forgings has also shown an increase in its earnings per share (EPS), reaching its highest at Rs 6.98 in the last five quarters. This indicates the company's increasing profitability and its ability to generate higher earnings for its shareholders.

With such strong financial results, it is no surprise that MarketsMOJO has given a 'Buy' call for Happy Forgings' stock. The company's consistent growth and positive near-term trends make it a promising investment opportunity in the midcap segment.