GOCL Corporation announces business restructuring plan after bagging Rs 776 crore order from Coal India

GOCL Corporation, one of the largest manufacturers of energetics in the country, has announced the restructuring of the company’s business model to respond to various market opportunities.

According to an exchange filing, the company has announced to foray into the space sector. Apart from this, it has applied for and expects a licence to manufacture certain defence products related to aircraft pilot safety.

Also, the Company has built a good presence in the electronic sector, specifically areas related to automotive engineering, automobile battery charging, 5G equipment etc.

GOCL currently runs its detonator factory in Hyderabad. The board has approved a plan to relocate the facility. "The Board had therefore decided to consolidate its explosives and detonators business at Rourkela, where the land and existing facilities are already available," it said.

Accordingly, IDL Explosives Limited, a wholly-owned subsidiary of the Company, applied for and received a detonator manufacturing licence in September 2023. The project execution has started and is likely to be implemented in the next 15 to 18 months’ time.

Last week, GOCL Corporation bagged a Rs 766 crore order from state-owned Coal India Ltd (CIL) to supply explosives. The order will be completed over the period of two years by October 2025. Coal India, under the Ministry of Coal, is the country's largest coal-producing company.

The explosives are used at mining sites for blast purposes. Besides, GOCL Corporation also supplies products for mining infrastructure projects. It has been serving the Indian mining and Infrastructure industry for the last six decades.