India Aerospace & Defense: Project Kusha gains momentum: DRDO conducts successful maiden flight test; +ve read through for Solar

Research evidence excerpt

India Aerospace & Defense: Project Kusha gains momentum: DRDO conducts successful maiden flight test; +ve read through for Solar

Equity Research

24 July 2026 | 4:42PM IST

India Aerospace & Defense: Project Kusha gains momentum: DRDO

conducts successful maiden flight test; +ve read through for Solar

In a significant milestone for India’s indigenous air defense capabilities, the Defense Amit Dixit

+91(22)6616-9008 | amit.dixit@gs.com

Research and Development Organisation (DRDO) successfully conducted the maiden Goldman Sachs India SPL

test-firing of the Kusha M-1 interceptor missile off the coast of Odisha on Thursday. Kumari Rishika

The interceptor, which has an engagement range of approximately 120 km, was +91(22)6616-9154rishika.x.singh@gs.com|

tested against an electronic target simulating a high-speed, high-altitude aerial Goldman Sachs India SPL

threat and achieved a successful interception. The test marks a key advancement

under Project Kusha, India’s long-range surface-to-air missile (LR-SAM) program.

DRDO is expected to conduct trials of the other interceptor variants (M-2 & M-3)

over the next 12 months, spanning engagement ranges of roughly 120 km to 400 km.

Once operational, the Kusha system is designed to counter a broad spectrum of

aerial threats, including fighter aircraft, cruise missiles, unmanned aerial vehicles

(UAVs). The successful flight test underscores the progress of India’s domestic

defense R&D ecosystem and highlights the country’s growing capability to develop

advanced, long-range air defense systems.

Positive for Solar Industries, Bharat Electronics and Bharat Dynamics

We view this development as positive news for Solar Industries and Bharat Dynamics

as both players have been identified as the key Design-cum-Production-Partner for