Happy Steels Limited - automotive in Ludhiana, Punjab, India. FY 2026 financials & compliance.
CIN U35923PB1996PLC018348 Incorporated 14 June 1996 ROC Chandigarh HQ Ludhiana, Punjab, India
Active Listed - NSE: HAPPY Public Limited Company automotive MSME · Medium
Data last updated
Market Cap
₹98.29 Cr
HAPPY-SM · NSE
Share Price
₹66.00
-4.07% today
Revenue
₹94.64 Cr
FY 2025-26 · +15.2% YoY
EBITDA
₹13.33 Cr
Margin 14.1%
Net Profit
₹7.16 Cr
FY 2025-26 · +228.4% YoY
P/E (TTM)
14.1x
P/B 1.6x
ROE
19.5%
ROCE 15.7%
Debt / Equity
1.12
Interest cover 25.7x

About Happy Steels Limited

Data last updated:

Happy Steels Limited is a public limited company based in Ludhiana, Punjab, India. It operates in the auto parts and components segment of the automotive sector. It was incorporated on 14 June 1996 and has been in existence for over 30 years.

The company is registered with the Registrar of Companies (ROC), Chandigarh, under CIN U35923PB1996PLC018348. Its GSTIN is 03AAACH6019D1Z8 (Punjab). The company holds 2 GST registrations, all of them active. Its shares are listed on NSE: HAPPY.

The company has an authorised share capital of ₹16 Cr and a paid-up capital of ₹10.5 Cr. It was formerly known as Happy Steels Private Limited. It is led by directors including Abhishek Garg (Managing Director) and Parveen Kumar Garg (Whole-Time Director).

Its last annual general meeting (AGM) was held on 30 September 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at Kanganwal Road, Ludhiana, Punjab, India – 141122.

As per the latest standalone financials for FY 2025-26, the company reported a revenue of ₹94.64 Cr, a growth of 15.2% compared to the previous year. For the same year it recorded a net profit of ₹7.16 Cr (net margin 7.6%) and EBITDA of ₹13.33 Cr (EBITDA margin 14.1%). The net worth stands at ₹39.98 Cr (up 21.6% YoY). Total assets are valued at ₹87.5 Cr (up 30% YoY).

The company has about 295 employees on its provident fund (EPFO) records.

The company is associated with 1 brand: Happy Steels. As per MCA filings, the company has open charges of ₹28.19 Cr and satisfied charges of ₹16.92 Cr on record. Court records list 13 cases involving the company, including 9 filed by the company and 4 filed against it; 1 case is pending. The company has 7 deals on record (6 secondary share transfers, 1 ipo); the latest was in July 2026. Its 10 peer companies in the Automobiles industry (Auto Ancillary) are compared by revenue, 5 larger and 5 smaller; the largest is Jumps Auto Industries Limited with revenue of ₹81.1 Cr. The company has 3 MSME Form 1 returns on record for the period ending Sep 2019, listing 14 overdue payments to 12 micro and small suppliers.

Happy Steels Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-PB-12-0003258). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website happysteels.com.

Company Details of Happy Steels Limited
CIN U35923PB1996PLC018348
Registration Number 018348
Incorporation Date 14 June 1996
ROC Chandigarh
Listing Status Listed (NSE: HAPPY)
Company Status Active
Date of Last AGM 30 September 2024
Date of Balance Sheet 31 March 2024
Compliance Status Active Compliant
MSME Classification Medium
Udyam Registration UDYAM-PB-12-0003258

CIN History of Happy Steels Limited

Happy Steels has one previous CIN (Corporate Identification Number): U35923PB1996PTC018348. The current CIN is U35923PB1996PLC018348, which is the unique identifier assigned by the Registrar of Companies.

CINStatus
U35923PB1996PLC018348Current
U35923PB1996PTC018348Previous

Recognitions & Rankings of Happy Steels

MSME (Udyam registered) Ministry of MSME
Category
Medium (2024-25)
Udyam number
UDYAM-PB-12-0003258
Contact Details
  • Email
    Locked
  • Telephone
    Locked
  • Social Media
    Locked
  • Registered Address
    Kanganwal Road, Ludhiana, Punjab, India – 141122
  • Industry
    Automotive, Auto Parts & Components
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Financials from 2015 Directors & ownership Charges & compliance

Associated Brands with Happy Steels Limited

Happy Steels operates one associated brand: HAPPY STEELS. Each brand links to its own profile.

BrandDescriptionWebsite
Manufactures automotive axle shafts and components for OEMs globally.happysteels.com

Business Activity of Happy Steels Limited

The main business activity of Happy Steels is manufacturing. In detail, this covers manufacture of machinery and equipment n.e.c..

Main Activity Group CodeDescription of Main ActivityBusiness Activity CodeDescription of Business ActivityTurnover Percentage
CManufacturing28Manufacture of machinery and equipment n.e.c.Locked
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Business activity turnover details

Turnover share and past changes in activity are in the company report.

  • Turnover contribution
  • Historical classifications
  • Filing-level activity changes

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Financials of Happy Steels Limited FY 2025-26 filings available

Happy Steels Limited reported revenue of ₹94.64 Cr (up 15.2% YoY) for FY 2025-26.

Financial Highlights

FY 2025-26 · Standalone
Revenue
₹94.64 Cr
+15.2% YoY
EBITDA
₹13.33 Cr
+64.6% YoY
Profit After Tax
₹7.16 Cr
+228.4% YoY
Net Worth
₹39.98 Cr
+21.6% YoY
Total Assets
₹87.50 Cr
+30.0% YoY
Total Debt
₹47.18 Cr
+37.9% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21
Income statement
Revenue94.6482.1480.9193.9688.3077.31
Revenue growth+15.2%+1.5%-13.9%+6.4%+14.2%-
EBITDA13.338.109.755.173.533.21
EBITDA margin+14.1%+9.9%+12.1%+5.5%+4.0%+4.2%
Profit before tax9.513.196.370.540.910.10
Net profit7.162.183.120.380.591.38
Net profit margin+7.6%+2.7%+3.9%+0.4%+0.7%+1.8%
EPS (₹)6.7715.6231.272.880.040.17
Balance sheet
Total assets87.5067.3166.2652.2160.0251.45
Net worth39.9832.8830.5425.8325.4525.54
Total debt47.1834.2135.6926.3834.5725.91
Cash & bank1.020.440.220.290.330.15
Net working capital47.7340.4442.6530.6836.8432.25
Cash flow
Cash from operations5.8110.18(3.67)0.000.000.00
Cash from investing(16.19)(5.64)(3.18)0.000.000.00
Cash from financing10.34(4.34)6.770.000.000.00

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 21 Oct 2026
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21
Revenue94.6482.1480.9193.9688.3077.31
Revenue growth+15.2%+1.5%-13.9%+6.4%+14.2%-
Other income1.930.381.330.200.570.15
Total expenses81.3174.0471.1688.7984.7774.10
Employee cost8.487.249.3112.7314.2213.90
EBITDA13.338.109.755.173.533.21
EBITDA margin+14.1%+9.9%+12.1%+5.5%+4.0%+4.2%
Depreciation3.132.432.172.201.831.92
Interest2.622.862.542.631.361.34
Profit before tax9.513.196.370.540.910.10
Tax2.420.861.680.120.030.05
Net profit7.162.183.120.380.591.38
Net profit margin+7.6%+2.7%+3.9%+0.4%+0.7%+1.8%
EPS (₹)6.7715.6231.272.880.040.17
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21
Equity & liabilities
Share capital10.501.501.501.501.501.50
Reserves & surplus29.4831.3829.0424.3323.9524.04
Shareholders' funds (net worth)39.9832.8830.5425.8325.4525.54
Secured loans39.2226.3727.9617.3526.2718.15
Unsecured loans7.967.847.739.038.307.76
Total debt47.1834.2135.6926.3834.5725.91
Total liabilities87.5067.3166.2652.2160.0251.45
Assets
Gross block59.8150.7947.7422.1541.0334.08
Net block31.7525.1324.2622.1520.0314.47
Capital work in progress8.462.660.220.003.094.68
Investments0.000.000.000.000.000.00
Inventories38.9832.2929.1020.8823.9918.62
Sundry debtors12.7616.0322.1123.3220.5421.64
Cash & bank balances1.020.440.220.290.330.15
Loans & advances4.810.801.281.672.424.60
Total current assets57.5749.5652.7146.1647.2845.01
Total current liabilities9.849.1210.0615.4810.4412.76
Net working capital47.7340.4442.6530.6836.8432.25
Total assets87.5067.3166.2652.2160.0251.45
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21
Opening cash0.260.060.140.000.000.00
Net cash from operating activities5.8110.18(3.67)0.000.000.00
Net cash from investing activities(16.19)(5.64)(3.18)0.000.000.00
Net cash from financing activities10.34(4.34)6.770.000.000.00
Net change in cash(0.04)0.20(0.08)0.000.000.00
Closing cash1.020.440.220.290.330.15
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21
Growth
Sales growth+15.2%+1.5%-13.9%+6.4%+14.2%-
EBITDA growth+64.6%-16.9%+88.6%+46.5%+10.0%-
PBT growth+198.1%-49.9%+1079.6%-40.7%+810.0%+9997.0%
Net income growth+228.4%-30.1%+721.1%-35.6%-57.3%-
Revenue CAGR (3Y)+0.2%-2.4%+1.5%---
EBITDA CAGR (3Y)+37.1%+31.9%+44.8%---
Profitability & leverage
Net income margin+7.5%+2.8%+5.8%+0.5%+1.0%+0.1%
Return on capital employed+15.7%+9.1%+12.9%+5.7%+2.8%+5.3%
Return on net worth+19.5%+7.4%+11.1%+1.7%+0.2%-1.7%
Debt / equity1.121.101.101.191.191.01
Long-term debt / equity0.380.360.390.410.38-0.02
Interest cover25.6950.4433.5188.5580.00103.88
Efficiency & per share
Fixed asset turnover1.711.672.322.972.352.27
Inventory turnover2.662.683.244.194.144.15
Debtors turnover6.574.313.564.284.193.57
EPS (₹)6.7715.6231.272.880.040.17
Dividend per share (₹)0.000.000.000.000.000.00
Book value per share (₹)38.09219.25203.63172.20169.66170.27
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Board of Directors of Happy Steels Limited

Happy Steels has 6 current directors and 5 former directors. Current directors are listed first, with their designation and appointment date.

Current Directors
NameDesignationAppointment DateTenureStatus
Parveen Kumar GargWhole-Time Director14 Jun 199630 Years 4 MonthsCurrent
Abhishek GargManaging Director15 May 200620 Years 5 MonthsCurrent
Deepak GargWhole-Time Director15 Feb 20233 Years 8 MonthsCurrent
Vikas GiyaDirector15 Feb 20251 Years 8 MonthsCurrent
Shashi BattaDirector01 Dec 20250 Years 10 MonthsCurrent
Surinder KumarDirector01 Dec 20250 Years 10 MonthsCurrent

Peer Comparison of Happy Steels Limited

Happy Steels Limited is compared with the companies closest to it by revenue in the Automobiles industry (Auto Ancillary). Net profit, margin and employee counts of each company are in the company report.

CompanyRevenueNet profitMarginGrowth (1 yr)EmployeesLocation
Happy Steels Limited this company₹94.64 Cr (FY 2026)••••••••15.2%••••Ludhiana, Punjab, India
Jumps Auto Industries Limited₹81.1 Cr (FY 2025)••••••••11.0%••••New Delhi, Delhi, India
Hyderabad Coach Builders Private Limited₹81.1 Cr (FY 2024)••••••••94.0%••••Hyderabad, Telangana, India
Uni Tritech Private Limited₹81.1 Cr (FY 2025)••••••••57.0%••••Mumbai, Maharashtra, India
Xlerate Driveline India Limited₹81.08 Cr (FY 2025)••••••••5.0%••••Faridabad, Haryana, India
Ansox Industries Private Limited₹81.01 Cr (FY 2024)••••••••3.0%••••Pune, Maharashtra, India
Nicks Auto Industries Private Limited₹80.92 Cr (FY 2025)••••••••5.0%••••Ludhiana, Punjab, India
Kaizen CNC Centre Private Limited₹80.68 Cr (FY 2025)••••••••13.0%••••Bangalore, Karnataka, India
Resilient Autocomp Private Limited₹80.63 Cr (FY 2025)••••••••28.0%••••Ludhiana, Punjab, India
Paramjyoti Movers Private Limited₹80.49 Cr (FY 2024)••••••••9.0%••••Kanpur, Uttar Pradesh, India
Super Circle Auto Limited₹80.32 Cr (FY 2025)••••••••11.0%••••New Delhi, Delhi, India

Peers are the five companies nearest above and the five nearest below Happy Steels by revenue in the Automobiles industry (Auto Ancillary), from the latest filed financials of each company. Net profit, margin and employee counts of each peer are in the company report.

Auditor Details of Happy Steels Limited

Happy Steels Limited is audited by Gupta Sharma & Associates for the financial year 2023.

NameStatusAppointment DateCessation Date
Gupta Sharma & AssociatesLockedLockedLocked
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Ownership and Shareholding of Happy Steels Limited

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Charges & Borrowings of Happy Steels Limited

Open charges
₹28.19 Cr
Satisfied charges
₹16.92 Cr
Breakdown by lending institutions
Hdfc Bank Limited₹25.38 Cr
Sidbi₹2.65 Cr
Others₹0.17 Cr
Latest charge details
DateLenderAmountStatus
04 Nov 2025Others₹16.79 LakhOpen
14 Aug 2025Sidbi₹2.65 CrOpen
20 Jul 2023Hdfc Bank Limited₹28.83 LakhOpen
18 Jul 2023Hdfc Bank Limited₹9 LakhOpen
17 Apr 2023Hdfc Bank Limited₹19 CrOpen

Total charge records: 10 View all charges

Deals & Funding of Happy Steels Limited

Happy Steels Limited has 7 deals on record (6 secondary share transfers, 1 ipo); the latest was in July 2026.

Total deals
7
Secondary share transfers
6
IPO
1

Deals on record (5 of 7)

WhenDealAmountParties
Jul 2026IPO₹25 CrInvestors: Shine Star Build-Cap Private Limited , PESB Alpha Fund, Securocrop Bharat Amritkaal Fund
Jun 2024Secondary share transferUndisclosedBuyer: 3 individuals
Seller: Sanjeev Garg Huf, an individual
Jun 2024Secondary share transferUndisclosedBuyer: 2 individuals
Seller: Sanjeev Garg Huf
Apr 2024Secondary share transferUndisclosedBuyer: an individual
Seller: 2 individuals
Jan 2024Secondary share transferUndisclosedBuyer: an individual
Seller: 2 individuals
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Full deal history

All 7 deals with amounts, valuations, instruments and every party are in the company report.

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Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.

MSME Payment Delays by Happy Steels Limited

Happy Steels Limited has 3 MSME Form 1 returns on record for the period ending Sep 2019, listing 14 overdue payments to 12 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.

Suppliers with reported dues (5 of 12)

SupplierAmount dueDue sinceReported on
an individual supplier••••••••••••
an individual supplier••••••••••••
an individual supplier••••••••••••
Vishal Engineers••••••••••••
an individual supplier••••••••••••
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Full MSME payment history

Every supplier, amount and due date from all 3 MSME Form 1 returns is in the company report.

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Individuals and sole proprietors among the suppliers are not named. Amounts, due dates and filing dates are in the company report.

Employees and EPFO Compliance at Happy Steels Limited

Happy Steels Limited has a workforce of 295 employees as of Apr 07, 2024.

Employee count
295
Active EPFO establishments
2
Employee growth
-21.75%
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Employee and EPFO history

Monthly headcount, contribution history and filing status are in the company report.

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Recent Activity on Happy Steels Limited

Happy Steels Limited has 11 board changes on record since 1996: 6 appointments and 5 cessations. The latest: Shashi Batta was appointed as Director on 01 Dec 2025.

Appointed
Shashi Batta was appointed as Director.
Appointed
Surinder Kumar was appointed as Director.
Charges
A charge with Hdfc Bank Limited of Rs. 6.00 Cr registered on 28 Dec 2010 with Charge ID 10261524 was modified on 15 Nov 2025.
Charges
A charge with Others amounted to Rs. 0.17 Cr with Charge ID 101193934 was registered on 04 Nov 2025.
Ceased
Parveen Kumar Garg ceased to be Director.
Charges
A charge with Sidbi amounted to Rs. 2.65 Cr with Charge ID 101141267 was registered on 14 Aug 2025.
Appointed
Vikas Giya was appointed as Director.
Ceased
Abhishek Garg ceased to be Director.
Ceased
Sanjeev Garg ceased to be Managing Director.
AGM
Happy Steels Limited last Annual general meeting of members was held on 30 Sep 2024 as per latest MCA records.
Ceased
Neeraj Garg ceased to be Director.
Filing
Happy Steels Limited has filed its annual Financial statements for the year ended 31 Mar 2024 with Roc Chandigarh.

19 earlier events are listed in the company report.

Credit Ratings, Litigation & Regulatory Alerts for Happy Steels Limited

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Credit ratings, litigation, and regulatory alerts

Credit ratings, court records and regulatory alerts are in the company report.

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Subsidiaries & Group Companies of Happy Steels Limited

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Corporate group structure

Parent, subsidiary, associate and joint venture records with holdings are in the company report.

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GST Compliance of Happy Steels Limited

Happy Steels has 2 GST registrations: 2 active.

Total GSTINs
2
Active
2
GSTINStateStatusRegistered on
03AAACH6019D1Z8PunjabActive01 Jul 2017
03AAACH6019D1DHPunjabActive13 Feb 2025
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GST registrations and filing compliance

State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.

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MCA Filings & Documents of Happy Steels Limited

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MCA filings and documents

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Related news about Happy Steels Limited

Frequently Asked Questions about Happy Steels Limited

Happy Steels is an active public limited company based in Ludhiana, Punjab, India. The company works in auto parts and components, within the automotive industry. It was incorporated on 14 June 1996 (30+ years old) and is registered under CIN U35923PB1996PLC018348. Listed on NSE: HAPPY.

Happy Steels reported revenue of ₹94.64 Cr for FY 2025-26 (up 15.2% YoY) based on standalone financials.

Happy Steels has 6 current directors:

The GSTIN of Happy Steels is 03AAACH6019D1Z8, registered in Punjab. The company has 2 GST registrations in all, of which 2 are active. Other active GSTINs include 03AAACH6019D1DH (Punjab).

The CIN (Corporate Identification Number) of Happy Steels is U35923PB1996PLC018348. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.

Yes. Happy Steels is listed on NSE with symbol HAPPY.

Happy Steels has 13 court cases on record: 9 filed by the company and 4 filed against it. 1 is pending. Most are in the district courts.

Happy Steels was incorporated on 14 June 1996, making it 30+ years old. It is registered with the Registrar of Companies, Chandigarh.

Happy Steels has 7 deals on record (6 secondary share transfers, 1 ipo); the latest was in July 2026.

The peers of Happy Steels by revenue are Jumps Auto Industries Limited, Hyderabad Coach Builders Private Limited, Uni Tritech Private Limited, Xlerate Driveline India Limited, Ansox Industries Private Limited and 5 more, all in the Automobiles industry (Auto Ancillary).

Shashi Batta was appointed as Director on 01 Dec 2025. Surinder Kumar was appointed as Director on 01 Dec 2025. Parveen Kumar Garg ceased to be Director on 30 Sep 2025. Happy Steels has 11 board changes on record in total.

Yes, Happy Steels is registered as a medium enterprise under Udyam registration (number: UDYAM-PB-12-0003258).

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