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Happy Forgings to invest Rs 6.5 billion in a heavy component manufacturing plant
Industry News- Jan 07,25
The investment will be financed through a combination of internal accruals and partial debt, with production expected to commence by the end of FY2027.
Happy Forgings Limited (HFL) has announced a Rs 6.5 billion investment to develop advanced forging capabilities for heavy industrial components. The new facility, set to become Asia’s first and the world’s second-largest of its kind, will focus on producing components weighing up to 3,000 kilograms.
The Ludhiana-based company aims to manufacture heavy forged and machined components, including large crankshafts for industrial and marine applications, as well as axles, gears, and specialised parts for sectors like power generation, mining, wind energy, and defence.
The investment will be financed through a combination of internal accruals and partial debt, with production expected to commence by the end of FY2027. The facility will cater to the growing demand for heavyweight components in non-automotive industrial sectors.
Ashish Garg, Managing Director, stated that the investment aligns with the company’s strategy to target markets with limited suppliers and capitalise on the demand for precision-engineered, large-scale components.
Currently, Happy Forgings is one of India’s largest producers of complex, safety-critical forged components, primarily serving automotive OEMs, farm equipment manufacturers, off-highway vehicle makers, and industrial machinery producers.
(Business Line)
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