
Goodluck Defence And Aerospace Unlisted Shares
vs. prev. close ₹430
52W High
₹482
52W Low
₹304
Market cap
₹2,136 Cr
IPO stage
No DRHP filed
Risk level
Moderate
CIN
U24103UP2023PLC188289
Price History
52W High
₹482
52W Low
₹304
About Goodluck Defence And Aerospace Unlisted Shares
Goodluck Defence and Aerospace Limited, a newly-commissioned manufacturer of medium-caliber artillery shells (105mm-155mm) under an Indian Arms Act license, posted its first year of commercial revenue in FY26 at Rs 41.50 crore with PAT of Rs 9.05 crore, EPS of Rs 1.84, and ROE of 4.94%, after completing a Rs 116 crore plant build funded largely by fresh borrowings.
The Short Version :
Goodluck Defence and Aerospace Limited, incorporated in 2023, manufactures medium-caliber artillery shells (105mm to 155mm, including HE M107, ERFB, ERFB BB and ERFB BIT variants) under an industrial license granted under the Indian Arms Act, 1959. Its dedicated manufacturing facility was formally inaugurated in October 2025 with an initial capacity of 1,50,000 shells per annum, and FY26 marks the company's first year of commercial revenue: Rs 41.50 crore, against effectively nil in FY25 when the plant was still under construction. PAT rose to Rs 9.05 crore from Rs 3.88 crore (largely interest income pre-commissioning), EPS came in at Rs 1.84 versus Rs 0.79, and ROE improved to 4.94% from 2.23%.
Why It Trades Where It Does :
This is a capacity-commissioning story, not yet a scaled operating one. Rs 116 crore of capital expenditure over FY25-26 converted a large capital-work-in-progress balance into an operating facility (Property, Plant & Equipment jumped from Rs 16.66 crore to Rs 306.72 crore as the plant was capitalized), funded substantially by fresh borrowings, current borrowings alone rose to Rs 198.69 crore. FY26 ROE of 4.94% and Book Value per Share of Rs 37.28 reflect a single year of commercial output against a much larger asset and equity base built for a full 1,50,000-shell annual run rate. The Board has not recommended a dividend, consistent with a business still ramping toward capacity.
Top Risks :
Only one year of commercial revenue exists; FY25 was pre-commercial, so there's no multi-year trading track record to assess demand consistency.
Current borrowings have scaled sharply (to Rs 198.69 crore) alongside the capex buildout, leaving the balance sheet more leveraged just as the plant ramps toward full capacity.
Revenue is concentrated in a single product category (artillery shells) for a small number of likely government/defence-linked buyers, so order timing risk is high.
Top Opportunities :
Full facility utilization is still ahead: FY26 revenue of Rs 41.50 crore against a plant built for 1,50,000 shells/annum suggests significant headroom before capacity constraints bind.
India's push for domestic defence manufacturing and import substitution in ammunition is a structural tailwind for a licensed artillery-shell producer.
ROE more than doubled year-on-year (2.23% to 4.94%) in the very first commercial year, before the business has scaled into its asset base.
Disclaimer :
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Company Details
Industry
Defence & Aerospace
Founded
2023
Headquarters
Ghaziabad, Uttar Pradesh, India
Min Lot Size
500
Face Value
₹10.00
Total Shares
49110000
Regulatory Information
Corporate Identity Number (CIN)
U24103UP2023PLC188289
PAN Number
AAKCG6927D
ISIN
INE0S7401019
Depository
NSDL & CDSL
Registrar & Transfer Agent (RTA)
M/s Nivis Corpserve
Key Valuation Ratios
Valuation
Market Cap
₹2,136.29 Cr
P/E Ratio
236.31×
P/S Ratio
51.48×
P/B Ratio
11.67×
EV / EBITDA
82.20×
Returns & Per Share
ROE
4.94%
EPS
₹1.84
Book Value / Share
₹37.28
Solvency
Debt / Equity
1.44×
Interest Coverage
2.25×
Company Fundamentals
As of FY2026 Annual · updated 08 Sept 2026Gross Profit
₹15.76 Cr
EBITDA
₹29.19 Cr
Revenue Growth
—
Profit Margin
21.78%
Performance Trends
3 annual periods · derived from filed statements
Revenue
₹ Cr
Net Profit
₹ Cr · losses in red
Earnings Per Share
₹ per share
Return on Equity
ROE %
Return on Capital Employed
ROCE %
Debt-to-Equity
1.44×
Interest Coverage
2.25×
Financial Statements
| Line item | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Total Income | |||
| Revenue from operationsDisclosed | 0₹ Crore | 0₹ Crore | 41.5₹ Crore |
| Other incomeDisclosed | 3.04₹ Crore | 6.99₹ Crore | 3.91₹ Crore |
| Total IncomeDerived | 3.04₹ Crore | 6.99₹ Crore | 45.41₹ Crore |
| Expenses | |||
| Cost of goods soldDisclosed | 0₹ Crore | 0₹ Crore | 25.74₹ Crore |
| Changes in inventoriesDisclosed | 0₹ Crore | 0₹ Crore | -41.54₹ Crore |
| Employee benefits expenseDisclosed | 0₹ Crore | 0₹ Crore | 8.15₹ Crore |
| Finance costsDisclosed | 0₹ Crore | 1.72₹ Crore | 10.06₹ Crore |
| Depreciation and amortization expenseDisclosed | 0₹ Crore | 0₹ Crore | 6.52₹ Crore |
| Other expensesDisclosed | 43₹ Lakh | 1₹ Lakh | 23.87₹ Crore |
| Total ExpensesDerived | 43₹ Lakh | 1.73₹ Crore | 32.8₹ Crore |
| Profit | |||
| Profit before taxDerived | 2.61₹ Crore | 5.26₹ Crore | 12.61₹ Crore |
| Current tax expenseDisclosed | 76₹ Lakh | 1.38₹ Crore | 6₹ Lakh |
| Deferred tax expenseDisclosed | 0₹ Crore | 0₹ Crore | 3.51₹ Crore |
| Tax expenseDisclosed | 76₹ Lakh | 1.38₹ Crore | 3.57₹ Crore |
| Profit After TaxDerived | 1.85₹ Crore | 3.88₹ Crore | 9.04₹ Crore |
| Total Comprehensive IncomeDerived | 1.85₹ Crore | 3.88₹ Crore | 9.04₹ Crore |
Documents Library
Access all financial reports and filings
Annual Report
Document
Shri Mahesh Chandra Garg
Director
20+
Shri Ramesh Chandra Garg
Director
20+
Mr. Arun Kumar
CFO
20+
Goodluck India Bags Defence Orders worth ₹52.20 Crore
Goodluck India Secures Domestic Order worth ₹52.20 Crore to supply 20,000 empty artillery shells within 3 months
Download AttachmentGoodluck India ₹500 Cr Defence Capacity Expansion others Company will invest ₹500 crore to boost empty shell production from 1.5 to 4 lakh units annually within a year.
Goodluck India ₹500 Cr Defence Capacity Expansion others Company will invest ₹500 crore to boost empty shell production from 1.5 to 4 lakh units annually within a year.
Goodluck India ₹500 Cr Defence Capacity Expansion others Company will invest ₹500 crore to boost empty shell production from 1.5 to 4 lakh units annually within a year.
Goodluck India ₹500 Cr Defence Capacity Expansion others Company will invest ₹500 crore to boost empty shell production from 1.5 to 4 lakh units annually within a year.
Establishment of new Defence & Aerospace Facility corporate_action Goodluck India Ltd. Sets Up ₹216.5 Cr Defence & Aerospace Facility
Establishment of new Defence & Aerospace Facility corporate_action Goodluck India Ltd. Sets Up ₹216.5 Cr Defence & Aerospace Facility
Establishment of new Defence & Aerospace Facility corporate_action Goodluck India Ltd. Sets Up ₹216.5 Cr Defence & Aerospace Facility
Establishment of new Defence & Aerospace Facility corporate_action Goodluck India Ltd. Sets Up ₹216.5 Cr Defence & Aerospace Facility
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Current Price
₹435Secure & Verified Transaction
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About Goodluck Defence And Aerospace Unlisted Shares unlisted shares
Indicative · updated dailyGoodluck Defence And Aerospace unlisted share price today
Goodluck Defence And Aerospace unlisted share price today is ₹435 as of 16 October 2026.
Goodluck Defence And Aerospace Unlisted Shares — frequently asked questions
- What is the grey market price for Goodluck Defence And Aerospace?
No IPO is currently announced for Goodluck Defence And Aerospace, so no grey market exists; the price above reflects Priveq's own desk valuation.
- Has Goodluck Defence And Aerospace filed for an IPO, and when might it list?
Goodluck Defence And Aerospace has not filed a draft red herring prospectus, so no IPO is currently announced and no listing date has been set.
- How does Goodluck Defence And Aerospace compare to its listed peers?
There is no closely comparable listed company for Goodluck Defence And Aerospace in India today.
- Is Goodluck Defence And Aerospace on the SME or Mainboard IPO track?
Goodluck Defence And Aerospace has not filed a draft red herring prospectus, so no IPO track is set yet.
- What is Goodluck Defence And Aerospace's CIN and registered office?
Goodluck Defence And Aerospace's Corporate Identity Number is U24103UP2023PLC188289, registered at Ghaziabad, Uttar Pradesh, India.
- What is Goodluck Defence And Aerospace's market capitalisation?
Goodluck Defence And Aerospace's market capitalisation is approximately ₹2,136 crore, based on its current unlisted share price.
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