The capital investment aims to establish advanced forging capabilities to meet rising demand for high-precision components across non-automotive industrial sectors.
06 Jan 2025 | 5670 Views | By Autocar Pro News Desk
Happy Forgings Limited (HFL) has announced that its Board of Directors has approved a capital investment of approximately Rs. 650 crores to establish advanced forging capabilities for the non-automotive industrial sector. The new facility, located in Asia, aims to produce heavy forged and machined components such as large crankshafts, axles, ...
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Happy Forgings Limited (HFL) has announced that its Board of Directors has approved a capital investment of approximately Rs. 650 crores to establish advanced forging capabilities for the non-automotive industrial sector. The new facility, located in Asia, aims to produce heavy forged and machined components such as large crankshafts, axles, gears, valves, flanges, spindles, connectors, and shafts.
These components will serve industries including power generation, marine, mining, farm equipment, material handling, cranes, wind energy, oil and gas, aerospace, defense, and nuclear sectors. The facility will produce components weighing up to 3,000 kilograms, addressing the need for high-weight components in these industries.
The total capital expenditure for this facility is expected to span the next 2–3 years, primarily financed through internal accruals and partially through debt. Production is anticipated to begin by the end of FY2027.
Ashish Garg, Managing Director of Happy Forgings Limited, stated, “We are pleased to announce this investment of approximately Rs. 650 crores to expand our forging capabilities in the heavyweight components segment. This aligns with our strategy to meet growing demand for large-sized components, particularly in sectors with limited suppliers. We believe this investment will support our growth in the industrial sector, enhance profitability, and strengthen our export presence.”
Happy Forgings Limited (HFL) is a prominent manufacturer of heavy-forged and high-precision machined components in India. The company produces safety-critical components for various industries, including power generation, marine, mining, farm equipment, material handling, cranes, wind energy, oil and gas, aerospace, defense, and nuclear sectors.
HFL specialises in large forged components such as crankshafts, axles, gears, valves, flanges, spindles, connectors, and shafts, with capacities capable of handling components weighing up to 3,000 kilograms. These capabilities allow HFL to serve niche industrial applications that require precision-engineered parts.
The company has invested in advanced technology, research, and development to enhance its manufacturing capabilities and ensure quality standards. Recently, HFL announced a Rs. 650 crore investment to expand its forging operations, focusing on producing heavyweight components. This investment aims to reduce reliance on imports, support India’s manufacturing sector, and strengthen its presence both domestically and internationally.