Goodluck India Ltd(GOODLUCK)

NSE: GOODLUCKBSE: 530655

₹ 528-3.29%refreshed 26 Oct, 03:30 pm ISTMarket cap: ₹ 5,265 crNext results: 28 Oct 2026Website: www.goodluckindia.comUpdated: 27 Oct 2026

About

In FY26 the standalone business shipped 4,68,161 MT across six facilities and reported revenue of ₹4,100.28 crore. The company exports to more than 100 countries across South East Asia, SAARC, America, Europe, the Middle East, and Africa.^[1][2][3]

Business segments

Cold Formed Profile, CR Coils, Pipes & Tubes contributed ₹1,350.27 crore in FY25, the largest product segment by revenue.^[4]
Precision Pipes & Auto Tubes generated ₹949.28 crore in FY25.^[4]
Engineering Structures & Precision Fabrication contributed ₹882.25 crore in FY25 and grew to 34% of revenue mix in FY26 from 23% in FY25.^[4][1]
Forgings contributed ₹616.65 crore in FY25; forging capacity was being expanded from 30,000 MTPA to 35,000 MTPA.^[4]
CR coils/pipes/tubes (lower-margin) contracted from 36% to 24% of revenue mix between FY25 and FY26, reflecting a deliberate mix shift.^[1]
Goodluck Defence & Aerospace Ltd (subsidiary) generated ₹80 crore revenue at 38% EBITDA margin in Q1 FY27, its first full quarter of meaningful contribution.^[5]

Products and portfolio

Core steel products include GI pipes, cold-formed sections, CR coils, precision tubes, hydraulic tubes, auto tubes, large-diameter heavy-wall pipes, and solar tracker tubes/transmission structures.^[4][6]
Solar tracker tubes and solar structures revenues tracked ~₹400 crore in FY26, up from ~₹250 crore two years prior.^[6]
Hydraulic tube plant (50,000 MTPA, commissioned January 2025) targets import substitution of seamless tubes and began contributing from Q1 FY26.^[4]
Defence subsidiary holds an industrial licence under the Indian Arms Act to produce calibres 105mm - 155mm artillery shells, and received DGQA quality certification for 155mm M107 RTF shells in Q1 FY27.^[7][5]
Company formed a tripartite MOU with BrahMos Aerospace Thiruvananthapuram Ltd and Axiscades Technologies and filed an EOI with ADA for the Advanced Medium Combat Aircraft (AMCA) programme.^[7]

Operations and capacity

Standalone installed capacity is 5 lakh MT across six manufacturing facilities.^[6]
Annualised capacity utilisation improved to ~94% in FY26 from 89% in FY25; Q1 FY27 annualised utilisation reached ~98%.^[1][5]
Hydraulic tube plant utilisation improved from ~40 - 45% in Q3 FY26 to 60 - 65% in Q1 FY27.^[6][5]
Defence manufacturing facility at Sikandrabad was inaugurated October 2025 with initial installed capacity of 1,50,000 shells per annum and estimated investment of ~₹500 crore.^[1]
Defence plant operated at 60 - 70% utilisation in Q1 FY27.^[5]
Value-added products represent ~60% of standalone product mix in Q1 FY27, up from 56 - 60% in Q3 FY26.^[5][6]

Key operating numbers

Standalone sales volume: 4,68,161 MT in FY26 (+5.8% YoY from 4,42,619 MT in FY25); Q1 FY27 standalone volume was 1,22,718 MT (+8.8% YoY).^[1][5]
Consolidated EBITDA per MT: ~₹9,000/MT in Q1 FY27; ~₹8,200/MT across Q3 FY26 and 9M FY26.^[5][6]
Export revenue grew ~53% YoY in Q1 FY27, with exports rising from 27% of consolidated revenue in FY26 to 29% in Q1 FY27.^[5]
Q2 FY26 volume grew 9.5% YoY to 1,12,937 MT while standalone revenue grew ~2% YoY, reflecting HRC price erosion to 5-year lows.^[7]

Customers and distribution

Company exports to more than 100 countries across South East Asia, SAARC nations, America, Europe, the Middle East, and Africa.^[3]
Export share was 27% of consolidated revenue in FY26, 25% in FY25, and 27% in FY24.^[1]
Export revenue was ₹91,534.41 lakh (FOB) in FY25, up from ₹89,607.36 lakh in FY24.^[4]
Defence subsidiary has customers including HAL, DRDO, Tata, and Godrej Aerospace for planned aerospace component production.^[7]
Secured export order in Q1 FY27 for ~14,500 MT of transmission line structures valued at USD 13.6 million from an international entity.^[5]

Expansion and capex

Defence capacity expansion from 1,50,000 to 4,00,000 shells/year: capex of ~₹400 crore (60% equity, 40% debt); construction to start Q4 FY27, commercialisation by Q4 FY28 - delayed 6 - 9 months from prior guidance.^[5][6]
Goodluck Defence & Aerospace raised ₹285 crore via preferential allotment of ~75 lakh shares at ₹375/share in Q1 FY27 to fund the expansion; Goodluck India's stake diluted by ~10.5% to 69.08%.^[5][8]
Standalone business capex of ₹100 - 150 crore targeted for FY27, focused on GI/DOM tubes, precision tube capacity additions expected within Q3 FY27.^[5]
Aerospace parts manufacturing (ring rolling for missile components) to commence production from April 2027 at EBITDA margins of 28 - 32%.^[6]
Forging capacity expansion from 30,000 MTPA to 35,000 MTPA was underway as of FY25 to serve oil & gas, defence, and precision engineering sectors.^[4]

Recent developments

In Q1 FY27 the defence subsidiary received two new orders: ₹255 crore for ~50,000 ERFB shells (10-month execution) and ₹52 crore for 20,000 M107 shells (3-month execution).^[5]
Board proposed a 2:1 bonus share issue (approved August 14, 2026) that will increase equity shares from 3.32 crore to 9.97 crore.^[3]
Goodluck Defence & Aerospace IPO is targeted approximately 18 months from August 2026 (i.e. ~February 2028), subject to regulatory approvals.^[5]
Credit rating was upgraded to CRISIL A+/Positive (long-term) and CRISIL A1 (short-term) during FY25, from CRISIL A-/Stable and CRISIL A2+ respectively.^[4]
A 12% safeguard duty imposed on certain imported steel products in early 2026 corrected price imbalances from cheaper imports, benefiting domestic producers.^[6]

Market Cap

₹5,265 Cr

High / Low

₹615 / 305

Stock P/E

26.7

Price / Book

3.6

Book Value

₹150

EPS

₹18.1

No. of Shares

9.97 Cr

ROCE

14.4%

ROE

12.9%

OPM

8.5%

Debt / Equity

0.75

Sales

₹4,100 Cr

Net Profit

₹183 Cr

Promoter holding

54.0%

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