Goodluck India's defence arm secures export order worth ₹50 crore

Steel products maker Goodluck India Ltd on Thursday (November 20) said its subsidiary, Goodluck Defence and Aerospace Limited, has secured an export order valued at $6 million. The order is for the supply of 155mm M107 Ready-to-Fill Shells.

"...we are pleased to inform you that Goodluck Defence and Aerospace Limited, a subsidiary of the company, has received an export order valued at USD 6 million for the supply of 155mm M107 Ready-to-Fill Shells," according to a stock exchange filing.

In September this year, Goodluck India had lowered its revenue growth guidance for 2025-26 (FY26), citing global uncertainties and tariff challenges. The company now expects around 12% growth, down from the earlier target of 20%, though margins are projected to improve.

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“We were expecting 20%, but with geopolitical tensions and tariff problems, we might end up with around 12%,” said CMD MC Garg. While the US contributes roughly 8% of total revenues, he expressed confidence that the niche nature of its export products would shield the business from major tariff impacts.

Defence is emerging as a strong growth lever for the company. Currently just 2% of revenues, the contribution is expected to rise to 5–6% in FY26, supported by the much-anticipated bullet shell project. “The plan is almost ready, pending the industrial licence… it will be a game changer for the company,” Garg said. The project could generate ₹300–350 crore annually once fully operational, with potential to scale to ₹700 crore in three years.

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.

Also Read: Goodluck India lowers guidance, shares drop 11%

Shares of Goodluck India Ltd ended at ₹1,169.90, down by ₹15.65, or 1.32%, on the BSE.Read about our editorial guidelines and ethics policy