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Hot Pursuit News

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(16 Apr 2024, 12:06)

Happy Forgings jumps on bagging order worth Rs 500 cr

Happy Forgings rallied 6.13% to Rs 960.05 after the company announced that it has secured a major order from a leading global Tier-1 manufacturer of automobile driveline components and systems.

The order entails manufacturing and supplying brake flanges for passenger vehicles, specifically utility vehicles and pickup trucks.

The total size of the order is worth Rs 69 crore to Rs 70 crore per annum, which is around Rs 500 crore for the entire period.

The order will be executed from the fourth quarter of the 2025-26 fiscal year or the first quarter of the 2026-27 financial years until December 2034.

Happy Forgings is principally engaged in the manufacturing of forgings and related components.

Happy Forgings reported 39.2% increase in standalone net profit to Rs 57.90 crore on 16.2% rise in revenue from operations to Rs 341.99 crore in Q3 FY24 over Q3 FY23.

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