Happy Forgings Limited (HFL) has announced that its Board of Directors has approved a capital investment of up to Rs. 650 crore to establish advanced forging capabilities for the non-automotive industrial sector. The investment will be allocated over the next two to three years, with production expected to begin by the end of FY2027.
The new facility will focus on manufacturing heavyweight forged and machined components, including large crankshafts for industrial and marine applications, as well as axles, gears, oil and gas valves, flanges, spindles, connectors, and shafts. These components will cater to industries such as power generation, marine, mining, material handling, wind energy, oil and gas, aerospace, defence, and nuclear sectors.
HFL plans to produce components weighing up to 3,000 kilograms, expanding its capabilities to address demand in specialized industrial applications. The investment will be primarily funded through internal accruals, with partial financing through debt.
Ashish Garg, Managing Director of Happy Forgings Limited, stated that the investment is aimed at meeting demand for large precision-engineered components in an industrial segment with limited suppliers. The company expects this expansion to strengthen its position in the industrial sector and enhance its export potential.
HFL manufactures forged and machined components for both automotive and non-automotive sectors, supplying original equipment manufacturers (OEMs) in industries such as commercial vehicles, farm equipment, and industrial machinery.