Happy Forgings Limited (HFL) has unveiled an ambitious plan to invest ₹650 crore in establishing advanced facilities for manufacturing heavy forged and machined components. The announcement came during the company’s Board of Directors meeting on January 6, 2025.
Key Highlights of the Expansion:
- Industry Focus: The new facility will cater to non-automotive sectors, including:
- Power generation
- Marine
- Mining
- High-horsepower farm equipment
- Material handling equipment and cranes
- Wind energy
- Oil & gas
- Specialized segments like aerospace, defense, and nuclear industries.
- Strategic Importance:
- The facility will feature advanced forging capabilities for heavyweight components weighing up to 3,000 kilograms, making it the first of its kind in Asia and the second largest globally.
- This strategic investment positions HFL as a key supplier in niche industrial segments requiring heavyweight components for critical applications.
- Investment Details:
- Total investment: ₹650 crore.
- Timeline: 2-3 years.
- The Board of Directors may amend the investment amount based on evolving requirements.
- Future Prospects:
- The initiative is expected to strengthen HFL’s market presence and expand its portfolio in high-demand, specialized sectors.
- It also aligns with HFL’s vision to diversify beyond the automotive sector and capture a larger share of the non-automotive industrial market.
The company emphasized that none of its related parties, directors, or key managerial personnel are involved in this proposal.
