Goodluck India Shares End Flat on Subsidiary’s Artillery Shell Licence

Shares of Goodluck India Ltd ended flat after touching a day’s high of Rs 1,349 on 3rd October, despite the company announcing 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.

Goodluck India said the licence covers major artillery sizes, including 105mm, 120mm, 125mm, 130mm, and 155mm. It also includes specialised shells like HE M107, ERFB, ERFB BB, and ERFB BIT.

The facility has an initial capacity of 150,000 shells per year, with plans to expand this capacity in the future. Trial production is expected in Q3 of FY26, followed by full-scale commercial operations.

Chairman Mahesh Chandra Garg said the approval showcases the company’s technical capabilities. It strengthens its role in India’s defence ecosystem and contributes to national security.

Goodluck India also signed a tripartite MoU with BrahMos Aerospace Thiruvananthapuram Ltd and Axiscades Technologies Ltd. They aim to work on the Advanced Medium Combat Aircraft (AMCA) programme. They have filed an Expression of Interest with the Aeronautical Development Agency, Bengaluru.

These expansion plans aim to meet growing demand for advanced artillery and combat aircraft systems in India and abroad.

At 3:30 PM, the shares of Goodluck India ended 0.67% lower at Rs 1,298 on NSE.

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