Happy Forgings Signs MoU for Long-Term Supply of Precision Heavy Components!
By Ashutosh Arora
Happy Forgings Ltd (HFL) has signed a Memorandum of Understanding (MoU) with a leading global supplier of industrial equipment and construction machinery. This agreement marks a significant step in HFL’s expansion into the production of heavyweight forged and precision-machined components, with parts weighing up to 1,000 kilograms.
As part of the agreement, the customer will invest approximately Rs 20 crore for tooling and development, with sampling and testing scheduled for 2027. The official supply contract is expected to begin in 2028, with estimated annual revenues of Rs 95 crore, potentially reaching Rs 160 crore depending on demand.
This order will be fulfilled through HFL’s upcoming heavy forging facility, which is part of a larger Rs 650 crore investment plan aimed at significantly boosting production capabilities.
Ashish Garg, Managing Director of HFL, emphasized that this MoU strengthens the company’s engineering capabilities and solidifies its position in the industrial and mining sectors. This expansion is expected to drive growth, enhance profitability, and position Happy Forgings as a leading player in the heavy forging industry.
With these strategic steps, HFL is poised for continued success and increased market share in the manufacturing of precision heavy components.
