Goodluck Defense and Aerospace Ltd - Unlisted Shares
Fundamentals
- Current Price
- ₹280
- Market Cap
- ₹1,375.08 Cr
- ISIN
- INE0S7401019
- Face Value
- ₹10
- P/E Ratio
- 354.43
- EPS
- 0.79
- P/B Ratio
- 7.90
- Book Value
- ₹35.44
- Debt / Equity Ratio
- 0.72
Key Financials
Profit & Loss
| Metric | FY2025 | FY2024 |
|---|---|---|
| Net Revenue | 0.00 | 0.00 |
| Total Operating Expenses | 0.01 | 0.43 |
| Operating Profit | -0.01 | -0.43 |
| Other Income | 6.99 | 3.04 |
| Finance Costs | 1.72 | 0.00 |
| Depreciation and Amortization Expense | 0.00 | 0.00 |
| Profit before Tax | 5.25 | 2.61 |
| Income Tax | 1.38 | 0.76 |
| Tax % | 26.18% | 29.29% |
| Profit After Tax | 3.88 | 1.84 |
| EPS | 0.79 | 1.01 |
Company Financials
| Metric | FY2025 | FY2024 |
|---|---|---|
| Equity Capital | 49.11 | 49.11 |
| Reserves and Surplus | 124.92 | 121.04 |
| Total Equity | 174.03 | 170.15 |
| Long Term Borrowings | 0.00 | 0.00 |
| Other Long Term Liabilities | 0.05 | 0.02 |
| Total Non-Current Liabilities | 0.05 | 0.02 |
| Short Term Borrowings | 124.65 | 0.00 |
| Other Current Liabilities | 27.53 | 0.62 |
| Total Current Liabilities | 152.18 | 0.62 |
| Equity + Liabilities | 326.26 | 170.79 |
| Fixed Assets (incl. WIP) | 228.46 | 20.30 |
| Other Non Current Assets | 0.85 | 0.03 |
| Total NC Assets | 229.30 | 20.33 |
| Trade Receivables | 0.00 | 0.00 |
| Cash and Bank Balances | 20.18 | 104.98 |
| Other Current Assets | 76.78 | 45.48 |
| Total Current Assets | 96.95 | 150.46 |
| Total Assets | 326.26 | 170.79 |
Shareholding Pattern
- Goodluck India Limited
- 79.43%
- Others
- 20.57%
Strengths & Weaknesses
Strengths
- Industrial License: One of very few private players licensed under the Indian Arms Act, 1959 to manufacture artillery shells across all 5 major calibers (105–155mm) including advanced variants. This licence is extremely difficult to obtain, creating a durable barrier to entry.
- Strong parent-company ecosystem: Goodluck India's 39-year history supplies forging components to DRDO, HAL, ISRO, BrahMos, L&T Defence, Godrej Aerospace, and OFB. These pre-existing relationships, quality certifications, and domain knowledge directly benefit GDAL in customer acquisition and production ramp-up.
- Strong near-term order visibility: 8 months of firm orders in hand and 2-year Letters of Intent (LOI) are already secured. First completed orders are ready for dispatch.
- High-margin business model: Expected EBITDA margins on artillery shells segment is 30–35% and on aerospace forgings 28–32%.
- Significant capex already deployed: ₹212 Cr of capex is already deployed as of March 2025. The company is at the production stage awaiting dispatch permissions.
Weaknesses
- Newly Established: As a newly incorporated public limited company (August 31, 2023), Goodluck Defence and Aerospace has yet to commence its business operations, which may pose challenges in establishing market presence and credibility.
- Regulatory dispatch-permission risk. Production commenced in Q3 FY26 but the first order remains undispatched pending government clearance.
About Goodluck Defense and Aerospace Ltd
Goodluck Defence and Aerospace Pvt. Ltd., a wholly-owned subsidiary of Goodluck India Limited, was established on August 31, 2023, to focus on the defense sector. The company specializes in manufacturing advanced military hardware, including 155 mm artillery shells and various military applications like high explosive and precision-guided munitions.
Board of Directors
- Shri Mahesh Chandra Garg - Director
- Shri Ramesh Chandra Garg - Director
- Mr. Madhur Gupta - Non-Executive Independent Director
- Ms. Charu Jindal - Non-Executive Woman Independent Director
Senior Management
- Ms. Jyoti Sachdeva - Company Secretary
- Mr. Arun Kumar - Chief Financial Officer