Forging Ahead

Fourth largest manufacturer of complex and safety-critical heavy forged and machined components in India

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Happy Forgings (HFL) is the second largest producer of commercial vehicle (CV) and high horsepower industrial crankshafts in India and ranks as the fourth largest engineering-led manufacturer of complex and safety-critical heavy forged and machined components in the country by forging capacity.

It has built a reputation for manufacturing high-value precision components catering to a diversified base of domestic and global OEMs across automotive and nonautomotive industries. HFL's product portfolio includes crankshafts, front axle and suspension components, steering knuckles, differential housings, transmission parts, pinion shafts, gears, shafts and valve bodies, manufactured to stringent tolerances as low as 0.005-0.2 mm.

Domestic sales accounted for around 84% of revenue, while exports contributed around 16% in H1 FY 2026, reflecting HFL's strong domestic positioning, alongside a meaningful export presence. From an end-market perspective, revenue was broadly distributed across commercial vehicles (CVs) around 37%, farm equipment 34%, industrials 13%, off-highway vehicles 10%, and passenger vehicles (PVs) 5%.