: Wednesday, 17 September 2025 11:34 am
Chandigarh With the aim of facilitating the industrial development of Punjab and making business under the leadership of National Convenor Arvind Kejriwal and Chief Minister Bhagwant Singh Mann, Cabinet Minister Sanjeev Arora said that Hapy Forgeings Limited (HFL) will invest Rs 1000 crore in District Ludhiana in Punjab. Happy Forgings Limited is a major unit in the manufacture of auto and engineering special products and engineering is the third largest company in the manufacturing sector in the country. Talking to the media, Cabinet Minister Sanjeev Arora highlighted that HFL company focuses on forging and machining of high quality products for both domestic and export market, which meets the needs of various areas including commercial vehicles, passenger vehicles, agricultural equipment, off highway segment, power generation, railways, oil and gas, wind turbine industries and defense. After being listed on the stock exchange in December 2023, HFL has emerged as one of the largest listed companies in Punjab with a market capitalization of Rs 10,000 crore in the financial year 2024-25 and a revenue of Rs 1,409 crore.
Sanjeev Arora said that Punjab is the main center of HFL construction works, which has given direct employment to about 4000 people with capital investment of Rs 1,500 crore by 30 June 2025. This company is a major supplier for all famous OEMs (as follows) outside India as well as India, which meets the needs of commercial vehicles, agricultural equipment, off-high and industrial areas with the following major customers:-
commercial vehicle – Ashok Leyland, Eicher, Meritor, Mahindra.
farm equipment – Tafe, Escorts, Swaraj, Sonalika, John Dear.
Off Highway – JCB, Wipro, Dana, Hendricson.
Industry – Cummins, Generac, Bonfiglioly, Toyota Tsusho, Kohr, Libhar.
Giving information about the company’s future plan, Ashish Garg said that HFL is going to invest more than Rs 1000 crore in a phased manner to expand its manufacturing sector. Although the company has also received investment proposals from other states, HFL wants to continue its investment in Punjab, keeping full confidence in the state government and its policies.
This important investment will create more than 2000 employment opportunities including more than 300 engineer posts in the state. Apart from this, the development of many supporting units will encourage and will increase steel consumption, which will further strengthen the local economy and supply chain.
HFL managing director Ashish Garg said that it is encouraging that the Punjab government is bringing a new industrial policy under the recently formed Sectoral committees and we are confident that these policies will be in line with the needs of the industry. The proposed investment will be one of Asia’s most modern forging facilities (capable of producing a piece of 1000 kg to 3000 kg), which will be the first in Asia and the second largest in the world.
Ashish Garg further stated that investing in these capabilities will be able to meet the special requirements of HFL strategically non-automotive industrial products such as aerospace, defense and nuclear related fields. He also said that due to technical issues related to incentives under the new GST registration, the company will invest more capital for the expansion of its existing plant under the existing GST registration.
He further said that we are expecting a successful long -term partnership. Amit Dhaka, IAS, CEO Invest Punjab, Seema Bansal, Vice Chairperson, Punjab Vikas Parishad, Vaibhav Maheshwari, Member, Punjab Vikas Parishad and Megha Garg, Director HFL were also present during the press conference.
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