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GOODLUCK - Goodluck India

📊 NSE: GOODLUCK 🏢 Steel - Medium / Small 📅 Last Updated: 12/13/2025 22:32

📢 Recent Corporate Announcements

Goodluck India Subsidiary Commences First Overseas Dispatch of USD 6 Million Defence Order

🟢 POSITIVE ⭐ 8/10

EXPANSION 📅 16 Mar 2026, 10:09 AM

Goodluck India's subsidiary, Goodluck Defence & Aerospace Ltd, has successfully commenced its first overseas dispatch of 155 mm heavy calibre empty shells. This dispatch is part of a USD 6 million export order, marking the company's formal entry into the global defence supply chain. The manufacturing is being carried out at its Uttar Pradesh facility, which currently has a capacity of 1,50,000 shells per annum. The company is also in the process of expanding this capacity to 400,000 shells per annum to meet growing demand.

Commenced first export dispatch of 155 mm heavy calibre empty shells under a USD 6 million order.
Subsidiary capacity currently stands at 1,50,000 shells per annum with expansion plans to 400,000 shells.
The move marks a transition from capability creation to commercial participation in global defence markets.
Goodluck India operates six plants with a total capacity of 5,00,000 MTPA, including value-added products.
The company serves over 600 customers globally and exports to more than 100 countries.

💡 Investors should monitor the company's ability to secure larger defence contracts and the timely completion of its capacity expansion to 400,000 shells. This development strengthens the company's profile in the high-margin defence sector, which could lead to a valuation re-rating.

Goodluck India Q3 Revenue Up 10% to ₹1,032 Cr; Defense Capacity Expanding to 4 Lakh Shells

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 20 Feb 2026, 01:08 PM

Goodluck India reported a 10% YoY growth in Q3 FY26 revenue to ₹1,031.58 crore, with EBITDA margins improving to 9.7%. The company is significantly scaling its defense operations, increasing artillery shell capacity from 1.5 lakh to 4 lakh units per annum, backed by a strong 2-year LOI visibility. Management is bullish on the solar segment, targeting ₹600-700 crore in revenue next year, and is well-positioned for upcoming high-speed rail projects. Despite global volatility, the company maintains a high capacity utilization of 92% across its facilities.

Q3 FY26 standalone revenue grew 10% YoY to ₹1,031.58 crore with PAT rising 8.4% to ₹43.47 crore.
Defense subsidiary capacity being augmented from 1.5 lakh to 4 lakh shells per annum with 8 months of orders in hand.
Solar structure business expected to contribute ₹600-700 crore in revenue in the next financial year.
Achieved 90% completion of the first Ahmedabad-Mumbai bullet train order and eyeing 7 new high-speed rail corridors.
Consolidated 9M FY26 revenue reached ₹3,011.82 crore with a PAT of ₹126.47 crore.

💡 Investors should monitor the ramp-up in the high-margin defense and aerospace segments, which are expected to be significant margin drivers. The company's alignment with government infrastructure and defense indigenization makes it a strong long-term play.

Goodluck India Releases Audio Recording of Q3 & 9M FY26 Investor Conference Call

🟡 NEUTRAL ⭐ 4/10

EARNINGS 📅 16 Feb 2026, 04:06 PM

Goodluck India Limited has released the audio recording of its investor conference call held on February 16, 2026. The call was dedicated to discussing the company's financial performance for the third quarter and the nine-month period of FY 2025-26. This disclosure is a mandatory regulatory requirement under SEBI (LODR) Regulations, 2015, ensuring transparency for all stakeholders. Investors can now access the management's detailed commentary and responses to analyst queries via the provided web link.

Conference call conducted on February 16, 2026, at 12:00 PM to discuss Q3 and 9M FY26 results.
Audio recording link officially shared via the company's website as per SEBI compliance.
The session follows the initial meeting intimation previously filed on February 9, 2026.
Provides a direct channel for investors to evaluate management's outlook on business operations.

💡 Investors should listen to the recording to understand management's guidance on volume growth and margin sustainability. This is a routine update but critical for those performing deep-dive fundamental analysis.

Goodluck India Q3 FY26 EBITDA Jumps 22.3% YoY; Commences Defense Production

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 14 Feb 2026, 03:02 PM

Goodluck India reported a strong performance for 9M FY26 with EBITDA growing 24.1% YoY to Rs. 2,966.5 Mn and sales volumes increasing 11% to 3,45,874 MT. A significant milestone was achieved with the commencement of production at its defense subsidiary, which has an annual capacity of 150,000 artillery shells. The company declared an interim dividend of Rs. 3 per share (150% of FV). Management highlighted strong order visibility in the defense sector for FY27 and benefits from the expansion of bullet train corridors.

EBITDA for 9M FY26 rose 24.1% YoY to Rs. 2,966.5 Mn with margins expanding by 141 bps to 9.8%
Sales volume grew 11% YoY in 9M FY26 to 3,45,874 MT, driven by infrastructure and auto segments
Defense subsidiary commenced production of artillery shells with the first order ready for dispatch
Declared an interim dividend of Rs. 3 per share, representing an 8% payout of nine-month profits
Successfully completed one bullet train project and is eyeing participation in 7 new corridors

💡 Investors should monitor the ramp-up in the high-margin defense vertical and the execution of high-speed rail projects as these are key catalysts for future margin expansion. The stock remains a solid growth play on Indian infrastructure and indigenous defense manufacturing.

Goodluck India Q3 Net Profit Rises to Rs 43.68 Cr; Declares 150% Interim Dividend

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 13 Feb 2026, 02:55 PM

Goodluck India reported a steady performance for Q3 FY26, with consolidated revenue growing 4.6% YoY to Rs 1,037.16 crore. Net profit for the quarter saw a modest increase to Rs 43.68 crore compared to Rs 42.64 crore in the previous year. The company rewarded shareholders with an interim dividend of Rs 3.00 per share (150%) with a record date of February 19, 2026. A significant strategic milestone was achieved as the subsidiary, Goodluck Defence and Aerospace Limited, commenced commercial production during the quarter.

Consolidated Revenue from Operations increased 4.6% YoY to Rs 1,037.16 crore in Q3 FY26.
Consolidated Net Profit for the quarter stood at Rs 43.68 crore vs Rs 42.64 crore in Q3 FY25.
Declared an interim dividend of 150% amounting to Rs 3.00 per equity share of face value Rs 2.
Subsidiary Goodluck Defence and Aerospace Limited successfully commenced commercial production in Q3 FY26.
Nine-month consolidated revenue reached Rs 3,011.82 crore with a net profit of Rs 126.47 crore.

💡 Investors should monitor the ramp-up of the new defence and aerospace production facility as it could lead to margin expansion. The stock remains a steady performer with consistent dividend payouts.

Goodluck India Q3 Profit Rises to ₹43.6 Cr; Declares 150% Interim Dividend

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 13 Feb 2026, 02:44 PM

Goodluck India reported a steady performance for Q3 FY26, with consolidated revenue growing to ₹1,037.15 crore compared to ₹991.38 crore in the previous year. The company's consolidated net profit for the quarter stood at ₹43.64 crore, showing year-on-year growth. Additionally, the board approved an interim dividend of ₹3.00 per share (150%) with a record date of February 19, 2026. A significant operational milestone was achieved as the subsidiary, Goodluck Defence and Aerospace Limited, commenced commercial production during the quarter.

Consolidated Revenue from Operations increased to ₹1,037.15 crore in Q3 FY26 from ₹991.38 crore in Q3 FY25
Consolidated Net Profit grew to ₹43.64 crore for the quarter ended December 31, 2025
Declared an interim dividend of 150% i.e., ₹3.00 per equity share of face value ₹2 each
Subsidiary Goodluck Defence and Aerospace Limited successfully commenced commercial production in Q3 FY26
Fixed February 19, 2026, as the record date for the interim dividend payment

💡 Investors should monitor the scaling of the new defense and aerospace subsidiary as it could drive future margins. The stock will trade ex-dividend shortly before the February 19 record date.

Goodluck India Declares Rs 3 Dividend; Q3 Consolidated Net Profit Rises to Rs 43.68 Cr

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 13 Feb 2026, 02:41 PM

Goodluck India Limited reported a steady performance for Q3 FY26, with consolidated revenue reaching Rs 1,037.16 crore compared to Rs 991.38 crore in the previous year. The company declared an interim dividend of Rs 3.00 per share (150% of face value) with a record date of February 19, 2026. A significant strategic milestone was achieved as its subsidiary, Goodluck Defence and Aerospace Limited, commenced commercial production during the quarter. Consolidated net profit for the nine-month period ended December 2025 grew to Rs 126.47 crore.

Consolidated revenue from operations increased to Rs 1,037.16 crore in Q3 FY26 from Rs 991.38 crore in Q3 FY25.
Net profit for the quarter stood at Rs 43.68 crore with a basic EPS of Rs 12.11.
Declared an interim dividend of Rs 3.00 per equity share (150% on face value of Rs 2).
Subsidiary Goodluck Defence and Aerospace Limited successfully commenced commercial production during the quarter.
Nine-month consolidated net profit rose to Rs 126.47 crore from Rs 123.73 crore in the corresponding previous period.

💡 Investors should monitor the ramp-up of the new defence and aerospace subsidiary as it could be a long-term margin driver. Dividend seekers must hold shares before the February 19 record date to be eligible for the Rs 3 payout.

Goodluck India Q3 Net Profit Rises to ₹43.6 Cr; Declares 150% Interim Dividend

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 13 Feb 2026, 02:38 PM

Goodluck India reported a steady performance for Q3 FY26, with consolidated total income reaching ₹1,038.89 crore, up from ₹945.94 crore in the same quarter last year. Net profit for the quarter grew to ₹43.64 crore compared to ₹40.97 crore YoY. The company rewarded shareholders with an interim dividend of ₹3.00 per share (150%). A significant strategic milestone was achieved as its subsidiary, Goodluck Defence and Aerospace Limited, successfully commenced commercial production during the quarter.

Consolidated Total Income for Q3 FY26 rose 9.8% YoY to ₹1,038.89 crore.
Consolidated Net Profit increased to ₹43.64 crore from ₹40.97 crore in the corresponding previous quarter.
Declared an interim dividend of 150% (₹3.00 per equity share) with a record date of February 19, 2026.
Goodluck Defence and Aerospace Limited subsidiary commenced commercial production in Q3 FY26.
9-month consolidated revenue reached ₹3,023.33 crore with a net profit of ₹126.16 crore.

💡 The commencement of commercial production in the defence subsidiary is a key growth trigger to monitor for margin expansion. Investors may consider holding for the dividend and long-term exposure to the high-growth defence and aerospace engineering segment.

Goodluck India Q3 FY26 Net Profit at ₹43.68 Cr; Announces 150% Interim Dividend

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 13 Feb 2026, 02:35 PM

Goodluck India reported a steady performance for Q3 FY26 with a consolidated total income of ₹1,038.89 crore and a net profit of ₹43.68 crore. The company declared an interim dividend of 150%, which translates to ₹3.00 per equity share, with a record date of February 19, 2026. A significant strategic milestone was achieved as its subsidiary, Goodluck Defence and Aerospace Limited, commenced commercial production during the quarter. Overall, the nine-month consolidated net profit reached ₹126.16 crore, reflecting consistent growth.

Consolidated Total Income for Q3 FY26 stood at ₹1,038.89 crore, up from ₹945.94 crore in the previous quarter.
Consolidated Net Profit for the quarter was ₹43.68 crore, compared to ₹41.19 crore in Q2 FY26.
Declared an interim dividend of ₹3.00 per share (150% of face value) for the financial year 2025-26.
Goodluck Defence and Aerospace Limited subsidiary successfully commenced commercial production in Q3 FY26.
Consolidated EPS for the nine-month period ended December 2025 reached ₹37.87.

💡 Investors should monitor the scaling of the new defence and aerospace subsidiary as it could significantly improve margins. The steady earnings and healthy dividend payout make this a positive update for long-term shareholders.

Goodluck India Schedules Q3 & 9M FY26 Earnings Conference Call for Feb 16

🟡 NEUTRAL ⭐ 3/10

EARNINGS 📅 09 Feb 2026, 11:04 AM

Goodluck India Limited has scheduled its earnings conference call for Monday, February 16, 2026, at 12:00 PM IST. The call is intended to discuss the company's financial performance for the third quarter and the nine-month period of FY 2025-26. Management will interact with analysts and institutional investors to provide insights into operational results. The call will be recorded in compliance with SEBI regulations, and pre-registration is available via DiamondPass.

Conference call scheduled for February 16, 2026, at 12:00 PM IST
Focus on Q3 and 9 Months FY 2025-26 financial and operational results
Universal dial-in numbers provided: +91 22 6280 1479 and +91 22 7115 8854
International toll-free access available for USA, UK, Singapore, and Hong Kong
Call coordinated by KAPTIFY Consulting Strategy & Investor Relations

💡 Investors should monitor the call for management commentary on volume growth and margin sustainability. Reviewing the post-call transcript is recommended for those unable to attend the live session.

Goodluck India Submits SEBI Reg 74(5) Compliance Certificate for Q3 FY26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 08 Jan 2026, 10:58 AM

Goodluck India Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by MAS Services Limited, confirms that all dematerialization requests received between October 1, 2025, and December 31, 2025, were processed within the mandatory 15-day timeframe. It verifies that physical security certificates were mutilated and cancelled after due verification. This filing is a standard administrative procedure to ensure the integrity of the company's share register.

Compliance certificate for the quarter ended December 31, 2025, submitted to BSE and NSE.
Confirmation that dematerialization requests were processed within the 15-day regulatory time limit.
Registrar and Share Transfer Agent (RTA) MAS Services Limited verified and cancelled physical certificates.
The name of the depositories has been substituted in the register of members as the registered owner.

💡 No action is required as this is a routine regulatory filing. Investors should continue to monitor the company's upcoming quarterly financial results for material performance updates.

Goodluck India Announces Trading Window Closure from Jan 1, 2026 for Q3 FY26 Results

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 27 Dec 2025, 11:26 AM

Goodluck India Limited has announced the closure of its trading window for all designated persons and their immediate relatives starting January 1, 2026. This action is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the announcement of financial results for the quarter and nine months ending December 31, 2025. The window will remain closed until 48 hours after the results are declared. The specific date for the board meeting to approve these results will be announced separately.

Trading window closure begins on January 1, 2026, for all designated persons.
Closure is related to the unaudited financial results for the quarter and nine months ended December 31, 2025.
The window will reopen 48 hours after the official declaration of the financial results.
The date for the Board Meeting to approve the results will be intimated in due course.

💡 This is a routine regulatory filing and has no direct impact on the company's stock fundamentals. Investors should monitor the upcoming board meeting date for the actual Q3 financial performance.

Goodluck India Acquires Property in Ghaziabad for Rs 52 Crore via Related Party Transaction

🔵 WATCH ⭐ 6/10

EXPANSION 📅 24 Dec 2025, 04:46 PM

Goodluck India Limited has announced the acquisition of a plot of land along with existing construction and fixtures in Ghaziabad, Uttar Pradesh, for a total consideration of Rs 52 crore. The transaction is a Related Party Transaction as the sellers are members of the promoter and promoter group, including Mahesh Chandra Garg and Ashish Garg. The company has stated that the deal is conducted on an arm's length basis and all necessary approvals have been obtained. This acquisition represents a significant capital outlay for the company's asset base.

Acquisition of land, construction, and furniture at Nehru Nagar, Ghaziabad for Rs 52 crore.
Transaction involves the Promoter (Mahesh Chandra Garg) and three other Promoter Group members.
The purchase price of Rs 52 crore excludes stamp duty, registration fees, and other related expenses.
Company confirms the transaction is at arm's length and has received necessary regulatory approvals.

💡 Investors should monitor for further disclosures regarding the intended business use of this property and verify if the valuation aligns with market rates given the related-party nature of the deal.

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💰 Financial Performance

Revenue Growth by Segment

Overall revenue grew 14.1% in FY24 to INR 3,512 Cr from INR 3,077 Cr in FY23. For Q2 FY26, standalone sales reached INR 991.38 Cr, a 2% YoY increase from INR 976.21 Cr, while sales volumes grew by 9.5% during the same period. The company targets a long-term revenue growth rate of 15-20% driven by value-added segments.

Geographic Revenue Split

The company operates in both domestic and overseas markets. While specific percentage splits per region are not disclosed, revenue growth of 10-15% is expected across these markets over the medium term due to an established global presence in the pipe and engineering industry.

Profitability Margins

Operating margins improved to 8.72% in FY25 from 8.15% in FY24. PAT for Q2 FY26 stood at INR 41.30 Cr, registering a growth of 19.43% YoY. Adjusted Net Profit for H1 FY25 was INR 82.79 Cr, up 14.9% from INR 72.07 Cr in H1 FY24. Net profit margins are approximately 4.2-4.3%.

EBITDA Margin

EBITDA margin for Q2 FY26 was 9.72% (INR 96.10 Cr) compared to 7.52% (INR 73.44 Cr) in Q2 FY25. H1 FY26 EBITDA margin improved to 9.72% (INR 191.88 Cr) from 8% in H1 FY25. The improvement is driven by a shift toward high-margin defense products (30-35% margins) and value-added engineering goods.

Capital Expenditure

The company raised approximately INR 295 Cr through share warrants and Qualified Institutional Placement (QIP) to strengthen its net worth and fund expansions. Significant investment is directed toward the defense equipment manufacturing facility and increasing CDW tube capacity from 50,000 MT to 130,000 MT.

Credit Rating & Borrowing

The company maintains a 'Positive' outlook from CRISIL. Interest coverage ratio is expected at ~5 times for FY25. Bank limit utilization averaged 74-84%. Net cash accruals to adjusted debt (NCAAD) is projected at 0.3 times for fiscal 2025, indicating strong debt-servicing capability.

⚙️ Operational Drivers

Raw Materials

Steel and related alloys are the primary raw materials, with raw material costs accounting for approximately 70% of the total cost of production.

Import Sources

Not specifically disclosed in the documents, though the company operates manufacturing facilities in Uttar Pradesh (Sikandrabad, Dadri) and Gujarat (Kutch).

Capacity Expansion

Total capacity stands at 5,00,000 MTPA, with 2,85,000 MTPA dedicated to high-margin value-added products. CDW tube capacity was recently enhanced from 50,000 MT to 130,000 MT to meet demand from the auto and heavy machinery sectors. Defense shell manufacturing is scaling to 4,00,000 units with a revenue potential of INR 1,000 Cr by FY28.

Raw Material Costs

Raw material costs were INR 2,822.27 Cr in FY25, representing 71.7% of total revenue. The company faces a 1-2 month lag in passing on price increases to customers in long-term contracts, which can temporarily squeeze margins.

Manufacturing Efficiency

Capacity utilization was approximately 84% for the 12 months ended June 2025. EBITDA per ton improved to ~INR 8,000 in FY24 from ~INR 6,900 in FY23 due to better product mix and operational efficiencies.

📈 Strategic Growth

Expected Growth Rate

15-20%

Growth Strategy

Growth will be achieved through a 160% capacity increase in CDW tubes for the auto sector, entry into high-margin defense products (shells and aerospace components), and increasing the share of value-added products to 2,85,000 MTPA. The defense segment alone is expected to contribute INR 1,000 Cr in revenue by FY28.

Products & Services

Heavy engineered structures, transmission and distribution towers, CDW tubes, precision tubes, pipes, sheets, forged engineering products, and defense shells.

Brand Portfolio

Goodluck India Limited, Goodluck Defence & Aerospace.

New Products/Services

Defense products (artillery shells) and large diameter tubes. Defense is expected to run at 30-35% EBITDA margins, significantly higher than the group average of ~9.7%.

Market Expansion

Expansion into the defense and aerospace sectors via the subsidiary GDAPL. The company is also targeting increased penetration in the auto and heavy machinery industries through its expanded CDW tube capacity.

🌍 External Factors

Industry Trends

The industry is shifting toward specialized engineering and defense indigenization. Goodluck is positioning itself as a high-margin value-added player rather than a pure commodity pipe manufacturer, aiming for 20-25% ROCE in its defense business.

Competitive Landscape

Faces intense competition from other pipe and engineering product manufacturers, which exerts pressure on margins for standard products.

Competitive Moat

The moat is built on 39+ years of engineering expertise, a diversified product profile that prevents over-reliance on any single industry, and high entry barriers in the defense manufacturing sector due to technical requirements.

Macro Economic Sensitivity

Highly sensitive to industrial growth and infrastructure spending, particularly in the auto, power distribution, and defense sectors.

Consumer Behavior

Increased demand for high-precision tubes in the automotive sector and a government push for domestic defense procurement are driving demand shifts.

Geopolitical Risks

Exposure to global trade barriers and raw material price fluctuations driven by international steel market dynamics.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to the Companies Act, 2013 and Ind AS accounting standards. Defense manufacturing requires specific government licenses and adherence to stringent quality standards.

Taxation Policy Impact

Effective tax rate for FY25 was approximately 24.9% (INR 53.85 Cr tax on INR 215.59 Cr PBT).

Legal Contingencies

The company received an unmodified audit opinion regarding internal financial controls as of March 31, 2025, suggesting no material legal or reporting weaknesses were identified.