Happy Forgings Signs MoU for Long-Term Supply of Heavy, Forged and Precision Machined Industrial Components

Happy Forgings Limited (HFL), one of India’s largest engineering-led manufacturer of complex, safety-critical, heavy-forged and high-precision machined components, has signed a Memorandum of Understanding (MoU) with a global manufacturer and supplier of industrial equipment and construction machinery. This MoU sets the main terms and principles for a binding long-term supply contract, which will be signed when approved components start shipping in 2028. The MoU marks HFL’s strategic expansion into the production of heavy-weight forged and precision-machined components, with individual parts weighing up to ~1,000 kilograms for industrial and mining applications. The binding supply contract will commence in 2028 with the delivery of approved components. Annual revenues are expected to be approximately INR 95 crore based on minimum committed volumes, with a peak potential of INR 160 crore per year, contingent on the customer’s equipment sales.