Happy Forgings Ltd (HFL) has unveiled plans for a capital investment of Rs 650 crore. The company’s Board of Directors has approved this significant expenditure to establish Asia’s first and the world’s second-largest advanced forging facility dedicated to the non-automotive industrial sector.
This ambitious project underscores HFL’s commitment to innovation and global leadership in forging excellence. The new facility will specialize in the production of heavyweight components, including large crankshafts for industrial and marine applications, axles, gears, oil & gas valves and flanges, spindles, connectors, and shafts. These components are poised to meet the demands of diverse industries such as power generation, marine, mining, high-horsepower farm equipment, material handling, wind energy, aerospace, defense, and nuclear segments.
The strategic investment will enable HFL to expand its capabilities into the higher-weight segment, producing components up to 3,000 kg. This move places the company in a niche market with limited global suppliers, addressing the rising demand for heavyweight and precision-engineered components.
The facility, with a phased capital outlay over the next 2–3 years, will primarily be funded through internal accruals, complemented by debt. Production is expected to commence by the end of FY2027, paving the way for HFL’s entry into untapped markets and reinforcing its position in the global supply chain for heavyweight industrial components.
Sharing his perspective on this milestone investment, Ashish Garg, Managing Director, Happy Forgings Ltd, stated:
“We are delighted to announce this significant investment of Rs 650 crore to establish cutting-edge forging capacities that will redefine our capabilities in the heavyweight components segment. This move aligns with our strategy to capitalize on untapped opportunities in a market characterized by limited suppliers and capturing demand for precision-engineered, large-sized components. We believe that this investment will accelerate our growth in the Industrials segment, enhance profitability, and strengthen our export footprint while delivering value to all our stakeholders.”
With this investment, HFL is set to transform the landscape of industrial forging in Asia, establishing itself as a global frontrunner in heavy-duty forging and machining solutions. The new facility marks a critical step toward scalability, diversification, and innovation, cementing the company’s legacy as a trusted partner to industrial and strategic sectors worldwide.