Happy Forgings Limited (HFL), one of the largest engineering led manufacturer of complex and safety-critical, heavy-forged and high-precision machined components in India in terms of forgings capacity, announced the confirmation of an order for the supply of Brake Flanges for passenger vehicles (utility vehicles / pickup trucks) to a large leading Global Tier-1 manufacturer of automobile driveline components and systems.
This order further cements the Company's reputation as a trusted partner in delivering complex and safety-critical components for the automotive industry.
Supplies under the contract will commence from Q4FY26/Q1FY27 post the interim part approval process. The total order value is estimated to be worth Rs. 60-70 crores p.a. and approximately Rs. 500 crores for the entire agreement period until December 2034.
This order signifies HFL's entry into the US Passenger Vehicles segment, enhancing its export share, product mix, and diversifying its revenue geographically.
Commenting on the development, Mr. Ashish Garg, Managing Director said, "We are thrilled to announce receipt of contract from an existing large client of ours; a leading Global Tier-1 manufacturer of automobile driveline components and systems, a milestone that underscores our commitment to customer satisfaction and operational excellence.
Our focus on cross-selling our comprehensive product range and deepening relationships with existing customers has paved the way towards entry into a new geography.
This contract demonstrates our engineering and manufacturing strengths that has enabled us to enter the passenger vehicle segment, both domestically and internationally.
As we continue to drive innovation and operational excellence, we remain confident that our strategic initiatives will further solidify our position as a preferred supplier in the global marketplace."
Shares of Happy Forgings Limited was last trading in BSE at Rs. 942.50 as compared to the previous close of Rs. 904.60. The total number of shares traded during the day was 26733 in over 1908 trades.
The stock hit an intraday high of Rs. 970.90 and intraday low of 934.00. The net turnover during the day was Rs. 25390317.00. |
