New Launch14 Dec 2024, 11:10 pm
Happy Forgings Secures Order to Supply Crankshafts for Domestic Passenger Vehicle Segment
AI Summary
Happy Forgings Limited (HFL), a leading manufacturer of complex, safety-critical forged and precision-machined components in India, announced the receipt of an order for supplying crankshafts for the passenger vehicle segment. This initial order for the crankshaft component is valued at approximately INR 140 crores, spanning the period from FY26 to FY31. Depending on the sales performance of the vehicles using the crankshaft, a subsequent order could potentially double the supply volumes starting in FY28, increasing peak annual revenues to over INR 50 crores.
Key Highlights
- HFL secured an order for supplying crankshafts for the passenger vehicle segment worth INR 140 crores.
- The order spans from FY26 to FY31 with deliveries scheduled to begin in FY26.
- The order could potentially double the supply volumes starting in FY28, increasing peak annual revenues to over INR 50 crores.
- HFL's state-of-the-art manufacturing capabilities and engineering capabilities have positioned it to meet the growing demand for high-precision components from both global and domestic automotive OEMs.
- This order marks a significant step in HFL's expansion within the passenger vehicle segment, reinforcing its reputation as a trusted supplier of critical components.