Happy Forgings Limited — Updates, 11-02-2025: Press Release

Happy Forgings Limited (HFL) has signed a Memorandum of Understanding (MoU) with a leading global manufacturer for a long-term supply of heavy-forged and precision-machined industrial components. This agreement marks HFL's strategic move into high-value segments, with components weighing up to approximately 1,000 kilograms for industrial and mining applications. The customer plans an initial investment of around INR 20 crore for tooling and development, with the binding contract expected to commence in 2028, projecting annual revenues of approximately INR 95 crore, potentially peaking at INR 160 crore based on equipment sales. The order will utilize a new heavy forging facility, part of a capital expenditure plan of INR 650 crore approved in January 2025. This initiative enhances HFL's engineering capabilities and positions the company for further growth opportunities in diverse industrial sectors, providing a positive long-term outlook for stakeholders.