Goodluck India Subsidiary Bags Artillery Shell Licence, Eyes Defence Growth With BrahMos-AMCA Tie-Up

Industrial steel forging player Goodluck India Ltd has received a major boost in its defence manufacturing ambitions, with its subsidiary Goodluck Defence securing government approval to manufacture medium-calibre artillery shells ranging from 105mm to 155mm.

The development comes shortly after the company announced a tripartite collaboration with BrahMos Aerospace Thiruvananthapuram (BATL) and Axiscades Technologies for the Advanced Medium Combat Aircraft (AMCA) programme, India’s next-generation stealth fighter project.

The consortium has already filed an Expression of Interest (EOI) with the Aeronautical Development Agency (ADA) to participate in the tender process, combining strengths in engineering, electronics, and defence manufacturing.

How does the licence mark a transformative journey?

Goodluck India’s Chairman Mahesh Chandra Garg, an IIT Roorkee alumnus, said the new licence marks a “transformative journey” for the company, enhancing its role in national and global defence ecosystems.

“This milestone not only elevates Goodluck’s stature but also contributes significantly to our nation’s security imperatives,” Garg added.

The company said trial production of artillery shells will begin in the December quarter, with an initial annual capacity of 150,000 shells, scalable as operations expand.

Goodluck Defence expects “robust demand” both domestically and internationally, as the government continues to encourage private participation in India’s defence manufacturing ecosystem under the Atmanirbhar Bharat initiative.

Is the company working towards an IPO?

On the market front, Goodluck India’s shares rose 2% on October 3, extending their five-session gains to over 12%, while the stock is up 38% year-to-date, giving the company a market capitalisation of around Rs 4,500 crore.

The management has hinted at the possibility of a future Initial Public Offering (IPO) for its defence arm, reflecting growing investor interest in the Indian defence sector. “Right now, it cannot be said, but definitely in the future, it can happen,” CEO Ram Aggarwal said earlier in July 2025.

Already a key player in steel forgings and precision engineering, Goodluck India supplies components for HAL and DRDO projects and manufactures steel structures for the Bullet Train project. The company’s diversification into heavy-calibre ammunition and aerospace collaborations positions it as a rising force in India’s defence industrial base.