Manufacturing
Goa-based defence manufacturer Hughes Precision Manufacturing has completed an investment round of more than ₹250 crore from a group of ultra-high-net-worth individuals (UHNIs), combining primary and secondary investment. The company plans to use the capital to expand its manufacturing capabilities and enter the medium-calibre ammunition segment.
Hughes Precision aims to increase its existing small-calibre ammunition manufacturing capacity from around 80 million rounds to 220 million rounds and establish a dedicated medium-calibre manufacturing facility. Its order book has crossed ₹1,000 crore, with approximately 60% of orders from India and 40% from overseas markets. The company said its existing order book is expected to be executed over the next two years.
Founded in 2016, the company manufactures ammunition for defence, law-enforcement and international markets. Its in-house R&D unit received DSIR recognition in March 2026.
The Bigger Picture
The investment comes amid growing activity in India’s private defence-manufacturing ecosystem and efforts to expand domestic production and exports.
Hughes Precision’s expansion highlights how private-sector manufacturers are scaling production capabilities while broadening their product portfolios for domestic and international customers.
