Goodluck India arm bags licence to make artillery shells, joins consortium to bid for AMCA fighter jet

Goodluck India specializes in making high-end forgings, steel structures for high speed railway network, and precision tubing for automotives, and is part of the Bullet Train project.

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

Industrial steel forging player Goodluck India, through its subsidiary, has bagged a major approval to make artillery shells, after recently announcing an agreement to collaborate with BrahMos Aerospace and Axiscades Technologies for the development of the Advance Medium Combat Aircraft (AMCA) programme.

The defence space has been increasing seeing private participation from domestic players, with a lesser-known engineering major Goodluck Defence now aspiring to participate in the ambitious AMCA programme through a collaboration to submit an Expression of Interest.

Shares of Goodluck India were higher by 2 percent on October 3, with gains during the last five trading sessions stretching to over 12 percent. On a YTD basis, the shares of the company are higher by 38 percent. The company has a market capitalisation of Rs 4,500 crore.

Huge Defence Order for Shells

The engineering firm's arm, Goodluck Defence received the industrial license under the Indian Arms Act, 1959 to make all major sizes of medium-caliber artillery shells between 105-155mm.

"We are thrilled to embark on this transformative journey, which not only elevates Goodluck's stature in the national and global defence arena but also contributes significantly to our nation's security imperatives," said Mahesh Chandra Garg, Chairman, Goodluck India, a IIT Roorkee alumni.

The management said they will be able to commence trial production in the December quarter of the fiscal, with an initial manufacturing capacity of 150,000 shells per annum, to be further augmented as it transitions to full-scale commercial operation. The company said it is 'anticipating robust demand', and a surge in enquiries from domestic and international stakeholders. With this order, Goodluck Defence said it is aiming to position itself as a 'reliable pillar' in India's artillery ammunition supply chain. The company is confident that the order is expected to unlock 'substantial revenue streams' for Goodluck Defence.

MoU for AMCA

In September, Goodluck India had entered into a Tripartite Memorandum of Understanding (MoU) with BrahMos Aerospace Thiruvananthapuram (BATL) and Axiscades Technologies for the development of Advance Medium Combat Aircraft (AMCA) programme. The consortium has filed an Expression of Interest (EOI) before the Aeronautical Development Agency (ADA) to participate in the tender process. The MoU hopes to combine strengths in engineering, electronics and defence manufacturing to help India emerge as a hub for next-generation aerospace innovation. Goodluck India called the AMCA project a 'symbol' of India’s technological sovereignty.

The management said it is confident of meeting the demands for advanced artillery systems and combat aircraft systems for both domestic and international requirements.

Defence Arm's IPO?

The management has not ruled out an IPO of the defence arm in the future. The forging division of the company is already manufacturing some smaller parts for HAL and DRDO. "...right now, it cannot be said, but definitely in future, it can happen," CEO Ram Aggarwal had said in July 2025.

Goodluck India specializes in making high-end forgings, steel structures for high-speed railway network, and precision tubing for automotives, and is part of the Bullet Train project.