Goodluck India rises 3.4% on arm securing licence for artillery shell manufacturing

Shares of engineering conglomerate Goodluck India surged 3.45% on Friday (Oct 3) after the company announced that its subsidiary, Goodluck Defence & Aerospace Ltd, has received an industrial licence under the Indian Arms Act, 1959, to manufacture a range of artillery shells.

The licence covers major sizes including 105mm, 120mm, 125mm, 130mm, and 155mm, along with specialised categories such as HE M107, ERFB, ERFB BB, and ERFB BIT medium-calibre shells, Goodluck India said in a stock exchange filing.

The facility has an initial manufacturing capacity of 150,000 shells per annum, with plans to scale up production. Trial production is expected to begin in Q3FY26, transitioning to full-scale commercial operations.

"This approval for artillery shell manufacturing is a testament to our technical and engineering capabilities. It strengthens Goodluck Defence’s role in India’s defence ecosystem and contributes significantly to national security," Goodluck India's chairman, Mahesh Chandra Gar,g stated.

In addition, Goodluck India entered into a tripartite memorandum of understanding (MoU) with BrahMos Aerospace Thiruvananthapuram Ltd and Axiscades Technologies Ltd to collaborate on the Advanced Medium Combat Aircraft (AMCA) programme. The consortium has filed an Expression of Interest (EoI) with the Aeronautical Development Agency, Bengaluru.

The company's expansion plans are expected to meet growing demand for advanced artillery and combat aircraft systems, both domestically and internationally.

Founded in 1986, Goodluck India has built a strong presence in defence manufacturing, high-end forgings, heavy fabrication for high-speed rail and infrastructure, and precision tubing for the automotive sector. Led by first-generation technopreneur Mahesh Chandra Garg, the company brings nearly four decades of engineering excellence to India’s defence growth story.

Shares of Goodluck India were trading at ₹1,339.25 on the BSE, up 2.43% from the previous closing level. During the trading session, it had reached an all-time high of ₹1,352.80 on the bourse.

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