Goodluck India Ltd
NSE:GOODLUCK

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Goodluck India Ltd Logo
Goodluck India Ltd
NSE:GOODLUCK
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Price: 1 101.6 INR 6.48% Market Closed
Market Cap: 36.6B INR

Goodluck India Ltd
Investor Relations

Goodluck India Ltd. engages in the manufacture and sale of steel products. The company is headquartered in Ghaziabad, Uttar Pradesh. The Company’s products include heavy engineered structure, transmission and distribution tower, CDW tubes, precision tubes, square and rectangle pipes, galvanized pipes, CR coils & sheets, fabricated sheets, and forged engineering products at its manufacturing facilities located at Sikandrabad, Industrial Area, and Dadri in Uttar Pradesh and Kutch in Gujarat. The firm also specialize in providing transmission and telecom towers. Its application cycle industry, cycle frame, forks, hub tubes, chain automotive, industrial and cycle chains, automotive industry, oil industry, furniture industry, construction industry, machinery manufacture, railway coaches, electrical industry transformers, fan down rods conduits, and others.

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GOODLUCK
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Last Earnings Call
Fiscal Period
Q2 2026
Call Date
Nov 10, 2025
AI Summary
Q2 2026

Challenging Quarter: Q2 FY '26 was tough for the steel and engineering sector, with Indian steel prices falling to a 5-year low and demand impacted by rising imports and a heavy monsoon.

Volume Growth: Despite the headwinds, Goodluck India reported 9.5% growth in sales volumes and an improved EBITDA margin of 9.72%.

Defense Opportunity: The new artillery shell plant (Goodluck Defense) began operations in October, with plans to ramp capacity from 150,000 to 400,000 shells annually over the next year.

Guidance Maintained: Management reaffirmed long-term revenue growth guidance of 15% to 20% per year and expects current EBITDA margins (~9.7%) to be sustained.

Defense Margins Up: Defense segment EBITDA margins now expected at 30% to 35%, versus previous guidance of 20% to 25%, due to strong demand and favorable market conditions.

Expansion Plans: INR 400–500 crore capex is planned for defense and aerospace capacity additions, funded by a mix of debt and equity, with comfortable leverage levels.

Solar Segment Growth: Solar support structure revenues targeted at INR 500–600 crore by FY '27, with 7%–8% EBITDA margin.

IPO for Defense Arm: The management plans to list Goodluck Defense & Aerospace via IPO in the future to unlock value, but no immediate plan for demerger.

Key Financials
Sales (Q2 FY26)
INR 991.38 crores
EBITDA (Q2 FY26)
INR 96.10 crores
EBITDA Margin (Q2 FY26)
9.72%
PAT (Q2 FY26, before exceptional items, net of tax)
INR 41.30 crores
EBITDA (H1 FY26)
INR 191.88 crores
EBITDA Margin (H1 FY26)
9.72%
PAT (H1 FY26)
INR 81.44 crores
PAT (H1 FY25)
INR 82.54 crores
Earnings Per Share (Q2 FY26)
INR 11.95
Earnings Per Share (Q2 FY25)
INR 13.80
Earnings Per Share (H1 FY26)
INR 24.57
Hydraulic Tubes Capacity Utilization (current)
50%
Hydraulic Tubes Capacity Utilization (March '26 expected)
70%
Artillery Shells Production Capacity (current)
150,000 shells per annum
Artillery Shells Production Capacity (future)
400,000 shells per annum
Defense Segment EBITDA Margin
30%–35%
Solar Support Structure Revenue (current)
INR 250 crores
Solar Support Structure EBITDA Margin
7%–8%
Capex (defense and aerospace expansion)
INR 400–500 crores
Debt (current)
INR 160 crores
Defense Segment Revenue (FY26 expected)
INR 100 crores
Defense Segment Revenue (FY27 expected)
INR 300 crores
Shell Business Revenue at Peak
INR 800 crores
Aerospace & Allied Defense Revenue at Peak
INR 200 crores
Total Defense & Aerospace Revenue at Peak
INR 1,000 crores
Long-Term Revenue Growth Guidance
15%–20% CAGR
Defense Business Working Capital Cycle
45–60 days
Defense Business ROCE
20%–25% plus
Other Earnings Calls

Management

Mr. Mahesh Chandra Garg
Executive Chairman
No Bio Available
Mr. Ram Agarwal
Chief Executive Officer
No Bio Available
Mr. Nitin Garg
Whole Time Director
No Bio Available
Mr. Rajat Garg
Senior Management Executive
No Bio Available
Mr. Sanjay Bansal
Chief Financial Officer
No Bio Available
Mr. Shyam Agarwal
Chief Operating Officer
No Bio Available
Mr. Abhishek Agarwal
Compliance Officer & Company Secretary
No Bio Available
Vinay Vijay Vargiya
President ? International Marketing
No Bio Available

Contacts

Address
UTTAR PRADESH
Ghaziabad
Good Luck House,, II-F, 166-167, Nehru Nagar,, Ambedkar Road,
Contacts