Happy Forgings Limited (HFL) announced today that its board has approved a ₹650 crore investment to establish advanced forging capabilities for heavy industrial components. The new facility, planned to be Asia’s first and globally the second-largest of its kind, will manufacture components weighing up to 3,000 kilograms.

The shares of Happy Forgings Limited (HFL) were trading at ₹1,002.80, down by ₹11.90 or 1.17 per cent on the NSE today at 2.10 pm.

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The Ludhiana-based company will focus on producing heavy forged and machined components, including large crankshafts for industrial and marine applications, along with axles, gears, and specialised components for sectors such as power generation, mining, wind energy, and defence.

The investment will be funded through internal accruals and partial debt, with production expected to begin by the end of FY2027. The facility aims to address the growing demand for heavyweight components in non-automotive industrial segments.

Managing Director Ashish Garg said the investment aligns with the company’s strategy to tap into markets with limited suppliers and capture demand for precision-engineered, large-sized components.

Happy Forgings is currently one of India’s largest manufacturers of complex, safety-critical forged components, primarily serving automotive OEMs and manufacturers of farm equipment, off-highway vehicles, and industrial machinery.