Synopsis:
Goodluck India Ltd is in focus after its subsidiary received an industrial license under the Indian Arms Act, 1959, to manufacture medium-caliber artillery shells.
A small-cap Company that is engaged in the business of manufacturing and selling engineering products such as sheets, pipes, engineering structures, fabricated structures, forgings, and automobile tubes is in the spotlight after its subsidiary received an industrial license to manufacture medium-caliber artillery shells.
With the market capitalization of Rs. 4,353.25 crore, the shares of Goodluck India Ltd is trading at Rs. 1,309.20, up by 0.19 percent from its previous day’s close price of Rs. 1,306.70 per equity share, and it has reached a high of Rs. 1,349 in the same trading day up by 3.24 percent
What’s the News?
Goodluck India Limited’s subsidiary, Goodluck Defence & Aerospace Ltd, has received an industrial license under the Indian Arms Act, 1959, to manufacture a wide range of medium-caliber artillery shells, including 105mm to 155mm varieties. With an initial annual capacity of 150,000 shells, trial production is expected in Q3FY26, soon moving to full-scale operations.
This positions the company as a key player in India’s defence manufacturing ecosystem, supporting indigenization under the ‘Atmanirbhar Bharat’ initiative. The move is expected to drive significant revenue growth, with expansion plans to meet rising domestic and international demand while maintaining high standards of quality and safety.
Management View
According Mr. Mahesh Chandra Garg, Chairman of Goodluck India Limited, highlighted that the approval for artillery shell manufacturing underscores the company’s technical and engineering strength, innovation, and operational excellence.
He expressed excitement about contributing to national security and delivering high-precision artillery solutions, while also marking a milestone in the Development of Advanced Medium Combat Aircraft (AMCA) program, reflecting India’s technological sovereignty.
He emphasized that Goodluck is well-positioned to meet the growing domestic and international demand for advanced artillery and combat aircraft systems, viewing this not just as a business achievement but as a step toward a stronger, self-reliant India and the company’s future growth trajectory.
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About the Company & Others
Founded in 1986, Goodluck India Limited is a leading engineering solutions provider specializing in defence products, high-end forgings, heavy steel fabrication, and precision tubing for automotive and other sectors.
Led by first-generation techpreneur Mr. Mahesh Chandra Garg and supported by professionally qualified family members, the company has built a legacy of over 39 years, evolving from a traditional manufacturer to a diversified player in high-growth sectors such as Automotive, Solar, Railways, Defence and Infrastructure.
Its product range spans ERW pipes to railway bridges, serving industries like construction, oil & gas and renewable energy, and contributing to projects like India’s first Bullet Train.
Operating six advanced manufacturing plants across Uttar Pradesh and Gujarat with a total capacity of 5,00,000 MTPA including 2,85,000 MTPA of high-margin value-added products, Goodluck India serves over 600 customers globally, exporting to more than 100 countries.
With a workforce of over 4,000 professionals and ISO 9001:2008 certification, the company focuses on growth through technology investment, product diversification and expanding its global footprint, maintaining strong commitments to quality, innovation and sustainability.
A return on equity (ROE) of about 13.6 percent, a return on capital employed (ROCE) of about 15.1 percent and debt to equity ratio at 0.67 demonstrate the company’s financial position. At the moment, the company’s P/E ratio is 26.4x higher as compared to its industry P/E 24.4x.
In Q1FY26, the company reported a revenue of Rs. 983 cr, up 7.7 YoY from Rs. 913 cr in Q1FY25 but down 11 QoQ from Rs. 1,105 cr in Q4FY25. Net profit for the quarter stood at Rs. 40 cr, a 11.1 increase YoY from Rs. 36 cr in Q1FY25 and slightly lower of 4.8 QoQ than Rs. 42 cr in Q4FY25.
Written by Akshay Sanghavi
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