HAPPY FORGINGS LIMITED

Happy Forgings Limited was incorporated as Happy Forgings Private Limited' at Jalandhar, Punjab as a private limited company, pursuant to a certificate of incorporation dated July 2, 1979, issued by the Registrar of Companies, Punjab, Himachal Pradesh and Chandigarh. Thereafter, Company was converted from a private limited company to a public limited company, and the name of Company was changed to Happy Forgings Limited', and a fresh certificate of incorporation dated April 1, 1998, issued by the Registrar of Companies, Punjab, Himachal Pradesh and Chandigarh. Happy Forgings is an engineering led manufacturer of complex and safety critical, heavy forged and high precision machined components in India. The Company manufacture a wide range of forged and machined products such as crankshafts, front axle beams, steering knuckles, differential cases, transmission parts, planetary carriers, suspension brackets and valve bodies across industries for a diversified base of customers. It mainly cater to domestic and global OEMs manufacturing commercial vehicles in the automotive sector and manufacturers of farm equipment, off-highway vehicles and manufacturers of industrial equipment and machinery for oil and gas, power generation, railways and wind turbine industries into the non-automotive sector. The Company has emerged as a leading player in the domestic crankshaft manufacturing industry with the second largest production capacity for commercial vehicle and high horse-power industrial crankshafts in India. In 1995, the Company purchased heavy duty hammers for manufacturing of oil engine parts and motor parts. In 2006, it commissioned operations at Kanganwal Facility II unit, in 2008, commissioned first 8,000 ton forging press; commenced manufacturing front steering parts by procuring axle arms in 2009 and installed model grinding technology used to manufacture four cylinder and six cylinder crankshafts. In 2011, it ventured into commercial vehicles, farm equipment and industrial equipment industries; later on, the second 8,000 ton forging press was commissioned during 2017; again it ventured into a new sector by manufacturing pinion shaft in the wind turbine industry in 2019; installed third 8,000 ton forging press line in 2021; commenced Dugri Facility operations in 2021, commissioned front axle beam for electric buses into commercial vehicle industry in 2022 and thereafter, installed 8 dedicated lines for manufacturing crankshafts and commissioned first 14,000 ton forging press line in 2022. The Company installed eight dedicated lines for manufacturing crankshafts in FY 2022. The Company launched its initial public offering of 11,865,802 equity shares of face value of Rs 2 each by raising capital aggregating to Rs 1008.6 Crore comprising a fresh issue of 4,705,882 equity shares aggregating to Rs 400 Crore and offer for sale of 7,159,920 equity shares aggregating to Rs 608.6 Cr in December, 2023. HFL Technologies Private Limited was incorporated as a wholly owned subsidiary of the Company in FY 2023-24. Company has commenced supplies of industrial crankshafts for SUVs in FY24. Forging capacity reached 1,27,000 metric tonnes, while machining capacity stood at 57,000 metric tonnes in FY 2025. The Company commenced Commenced supply of crankshafts for SUVs in 2025.