Happy Forgings (HFL) has received an approval for capex budget of around Rs 650 crore to set up facilities for heavy weight forged and machined components. The Board of Directors of the company at their meeting held on January 6, 2025 has inter alia, approved the same.
The investment will go into setting-up advanced forging capabilities for heavy weight components weighing up to 3,000 kilograms - the first such facility in Asia and the second largest globally. Investment in these capabilities will strategically position HFL to serve the non-automotive industrial segment, addressing niche applications areas where heavyweight components are critical.
Happy Forgings is principally engaged in manufacturing of forgings and related components.