GIL has entered the defence and aerospace segment through its wholly owned subsidiary, Goodluck Defence & Aerospace. The company has received the required industrial license under the Arms 52WeekH/L(Rs.) Act, 1959 to manufacture medium-calibre artillery shells ranging from 105mm to 155mm, including advanced 155mm variants such as M107, ERFB, ERFB BB, and ERFB BIT, enabling participation in O/s Shares (Cr.) a regulated and supply-constrained segment. Commercial production of artillery shells commenced Market Cap (Rs, Cr.) in October 2025 at a newly commissioned facility with an initial installed capacity of 150,000 shells per annum. Management has outlined plans to scale this capacity to 400,000 shells per annum with- Face Value (Rs.) in 12 months, supported by a Rs. 400-500 crores capex programme covering shell capacity expansion, ring rolling, presses, and allied aerospace components. At peak utilisation (~90%), the defence Average volume...