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Goodluck Defence and Aerospace Ltd., has received an order worth ~₹255 crore

ICICIdirect Research 22 Jun 2026 DISCLAIMER

News: Goodluck India has informed the exchanges that its subsidiary, Goodluck Defence and Aerospace Ltd., has received an order worth ~₹255 crore for the supply of 155mm long-range empty shells in ready-to-fill condition.

View: The order is expected to significantly strengthen the company's order book and support revenue growth. Based on realizations of ~₹22,000 per shell, the order translates into ~1.15 lakh units, representing ~75% of the existing capacity of 1.5 lakh units. Additionally, the defence business enjoys EBITDA margins of over 25%, significantly higher than the core business margins of ~9%, which should support overall margin expansion for the company ahead. We remain positive on the company, driven by its increasing focus on value-added products and the ramp-up of its defence and aerospace businesses.

Impact: Positive

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