Happy Forgings Limited — Capital/Financing Update 2025

Jan 6, 2025

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January 06, 2025

BSE Limited CorporateRelationshipDepartment, Phiroze JeejeebhoyTowers,Dalal Street,Mumbai— 400001 Script Code: 544057 BSE Limited Corporate Relationship Department, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 001 Script Code: 544057	NationalStockExchange ofIndiaLimited ListingDepartment ExchangePlaza,Plot No. C-1,Block G, Bandra—KurlaComplex,Bandra (East),Mumbai— 400051 Symbol:HAPPYFORGE National Stock Exchange of India Limited Listing Department Exchange Plaza, Plot No. C-1, Block G, Bandra – Kurla Complex, Bandra (East), Mumbai – 400 051 Symbol: HAPPYFORGE

Sub.: Outcome of Board Meeting under Regulation 30 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015 (“Listing Regulations”).

This is to inform you that the Board of Directors of Happy Forgings Limited (“the Company”) at their meeting held today, i.e., on Monday, January 6, 2025 has inter alia, approved capex budget of ~Rs. 650 crores to set up facilities for heavy weight forged and machined components.

None of the related parties of the Company, including the Director(s) and/or Key Managerial Personnel(s), are concerned or interested in the aforesaid proposal.

The details required under regulation 30 of SEBI Listing Regulations read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated 13[th] July, 2023 is enclosed as Annexure – I.

The Company will make necessary disclosures on any material developments in this regard.

The meeting commenced at 10:30 a.m. and concluded at 11:15 a.m.

You are requested to kindly take on record the same.

Thanking you,

Yours faithfully,

For Happy Forgings Limited

Bindu Digitally signed by Bindu Garg Date: 2025.01.06 Garg 11:15:39 +05'30' Bindu Garg Company Secretary & Compliance Officer FCS: 6997 B XXIX- 2254/, Kanganwal Road, P O Jugiana, Ludhiana (Pb)- 141120

Regd Office :

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Annexure – I

Sr.No. Sr. No.	Particulars Particulars	Details Details
1. 1.	Industry or area to which the new line of businessbelongs Industry or area to which the new line of business belongs	Primarily forHeavyforged and machinedcomponents for non-automotivesectorslikepowergeneration,marine, mining,high-horsepowerfarmequipment,material handlingequipment andcranes,windenergy,oil& gas and otherspecializedsegmentslikeaerospace,defense and nuclear. Primarily for Heavy forged and machined components for non-automotive sectors like power generation, marine, mining, high-horsepower farm equipment, material handling equipment and cranes, wind energy, oil & gas and other specialized segments like aerospace, defense and nuclear.
2. 2.	Expectedbenefits Expected benefits	The investmentwill go intosetting-upadvancedforging capabilities forheavyweightcomponentsweighing up to 3,000kilograms—the firstsuchfacility inAsia and the secondlargestglobally.Investment inthesecapabilities willstrategicallyposition HFL toserve thenon- automotiveindustrialsegment,addressingniche applicationsareaswhereheavyweightcomponents are critical. The investment will go into setting-up advanced forging capabilities for heavy weight components weighing up to 3,000 kilograms—the first such facility in Asia and the second largest globally. Investment in these capabilities will strategically position HFL to serve the non- automotive industrial segment, addressing niche applications areas where heavyweight components are critical.
3. 3.	Estimated amount to beinvested Estimated amount to be invested	Approximately Rs. 650 Croresovera period of 2-3years orsuchotheramount asmay beamended by theBoard of Directorsfromtime totime. Approximately Rs. 650 Crores over a period of 2-3 years or such other amount as may be amended by the Board of Directors from time to time.

For Happy Forgings Limited

Bindu Digitally signed by Bindu Garg Date: 2025.01.06 Garg 11:16:16 +05'30' Bindu Garg Company Secretary & Compliance Officer FCS: 6997

Regd Office :