Happy Forgings wins major crankshaft deal, boosting its role in the passenger vehicle industry

In a major milestone, Happy Forgings Limited (HFL), one of India‘s leading manufacturers of heavy forged and precision-machined components, has secured a lucrative order valued at INR 140 crores to supply crankshafts to a domestic passenger vehicle segment manufacturer. This strategic agreement cements the company’s reputation as a top supplier of safety-critical and precision-engineered automotive parts in India.

This initial order, covering the fiscal years from FY26 to FY31, will see HFL supplying crankshafts for use in passenger vehicles. Deliveries are set to begin in FY26 after comprehensive testing and approval phases. According to the company, the deal is expected to generate peak annual revenues of INR 27 crores during its first phase. Notably, if the vehicles utilizing these components perform well in the market, the agreement could be expanded from FY28 onwards, potentially doubling production volumes and raising annual revenues to over INR 50 crores.

What Does This Mean for Happy Forgings and the Industry?

This deal signals a shift for Happy Forgings, which has traditionally been a major player in the commercial vehicle and industrial equipment sectors. By securing a foothold in the passenger vehicle segment, the company is diversifying its revenue streams and enhancing its competitive positioning in the automotive supply chain.

The contract also underscores a broader trend of increasing reliance on Indian manufacturers for precision engineering components by domestic automotive OEMs. With a reputation for reliability, cost-efficiency, and cutting-edge technology, HFL is well-equipped to meet the exacting demands of the global and domestic automotive sectors.

Investing in Advanced Manufacturing Capabilities

HFL attributes its success to strategic investments in state-of-the-art manufacturing infrastructure. Its facilities are designed to deliver high-quality, precision-forged components at scale. This capability has allowed the company to secure its position as a trusted supplier of critical automotive components.

Commenting on the achievement, Ashish Garg, Managing Director of Happy Forgings, said that the order reflects the company’s ability to deliver advanced engineering solutions and its commitment to precision and innovation. Garg highlighted that the deal is a testament to the company’s focus on expanding its presence in the passenger vehicle segment while maintaining its leadership in the precision engineering industry.

About Happy Forgings and Its Role in Automotive Manufacturing

Happy Forgings Limited is one of the largest manufacturers of heavy-forged and high-precision machined components in India, catering to both the automotive and non-automotive sectors. In the automotive space, the company serves original equipment manufacturers (OEMs) producing commercial and passenger vehicles.

Outside of the automotive industry, HFL’s products are used in sectors like power generation, oil and gas, railways, and wind energy. The company’s vertically integrated operations, which encompass engineering, design, testing, and manufacturing, enable it to meet the diverse needs of its clients efficiently.

This new order positions HFL as a critical supplier for domestic passenger vehicle manufacturers, helping the company to tap into a rapidly growing market while maintaining its commitment to innovation and quality.

Future Outlook: A Boon for the Domestic Forging Industry

The partnership between Happy Forgings and its client is expected to drive greater collaboration between Indian manufacturers and automotive OEMs, highlighting the growing confidence in the expertise and reliability of local suppliers. As the Indian automotive sector evolves to meet the demands of a rapidly expanding market, HFL’s investments in precision engineering ensure it remains a leading choice for safety-critical components.

Industry analysts believe that this order could pave the way for additional contracts in the passenger vehicle market, further boosting the company’s financial performance and market share.

A Transformative Milestone

The INR 140 crore crankshaft order not only strengthens Happy Forgings’ position in the domestic market but also highlights its ability to deliver on large-scale, high-value contracts. As the company expands its footprint in the passenger vehicle sector, it continues to demonstrate its leadership in precision engineering components and its commitment to advancing the Indian automotive manufacturing industry.