Happy Forgings Limited (HFL) announced the confirmation of a significant contract for supplying machined Axle Seats and Steering Knuckles for Electric SUVs in the US market, further solidifying its partnership with a prominent global OEM. This contract exemplifies HFL's commitment to innovation and customer satisfaction, showcasing the company's ability to cross-sell products to existing clients while maintaining the highest standards of quality and precision engineering. The contract spans 7 years, extending until FY32, with supplies set to commence in Q3FY25 reaching a full volume ramp-up by Q4FY26.

Peak annual sales (assuming fully ramped up volumes) can exceed INR 500 million p.a. with a cumulative value estimated at INR 320-350 over the contract?s duration. With this order, HFL aims to further diversify its revenue segments and strengthen its position as a trusted supplier of automotive components in the global market.