As the fourth-biggest engineering-driven producer of complex, safety-sensitive heavy forged and extremely accurate machined components in India, Happy Forgings is a formidable presence. The company engages in engineering, process design, testing, manufacturing, and the supply of various components through its vertically integrated activities. Original equipment manufacturers (OEMs) in the domestic and international commercial vehicle manufacturing market comprise its main customer. Apart from providing services to automakers, it also offers its proficiency to producers of agricultural machinery, off-road automobiles, and industrial equipment and machinery for industries like wind power, power production, oil and gas, and railroads.

Based on market share, Happy Forgings is the only company that supplies essential components to all five of the leading Indian OEMs in the medium and heavy commercial vehicle sector. In terms of market share, it also serves four out of the top five Indian OEMs in the farm equipment sector. Remarkably, enduring client connections are a distinguishing feature; in Fiscal 2023, 2022, and 2021, customers who have been with the company for over ten years contributed 75.98%, 79.38%, and 80.67% of revenues from product sales, respectively.

As of 31 March 2023, the company has extended its services to customers across nine countries, including Brazil, Italy, Japan, Spain, Sweden, Thailand, Turkey, the United Kingdom, and the United States of America. With three strategically located manufacturing facilities, two in Kanganwal and one in Dugri, both in Ludhiana, Punjab, Happy Forgings has substantially increased its annual aggregate installed capacity for forging and machining. This capacity has surged from 67,000 MT and 29,500 MT as of 31 March 2021, to an impressive 107,000 MT and 46,100 MT as of 31 March 2023, respectively.