GOODLUCK

Goodluck India share price & financials

Price
₹1,423.4
Market cap
₹4.4k Cr
Sector
Capital Goods
Calls analysed
9
Latest concall · Q1 FY27 · call held 10 Aug 2026

Goodluck India Limited Q1 FY27

Consolidated EBITDA ₹139.66 cr +46%Consolidated PAT ₹67.22 cr +67%Consolidated EPS ₹19.13 +52%Consolidated Total Income ₹1,287.44 cr +31%

What went well

  • Consolidated Revenue grew 31% YoY to INR1,287.44 crores, reflecting strong operational performance.
  • Consolidated EBITDA increased 46% YoY to INR139.66 crores, with profitability growing significantly faster than revenue.
  • Consolidated PAT surged 67% YoY to INR67.22 crores, demonstrating improved earnings quality.

What to watch

  • The Defence expansion project has been delayed by 6-9 months due to financial closure and regulatory approvals.
  • Input cost volatility and increased logistic costs persist due to ongoing geopolitical tensions, particularly the West Asia crisis.
Read the full call →

What Goodluck India Limited does

Goodluck India Limited manufactures precision-engineered steel products across four lines: engineering structures & fabrication (bridges, girders, structures for roads, boilers/turbines, solar and railways), forged products (flanges, gear rings/shanks, forged shafts for oil & gas, defence, aerospace, automobile and nuclear power), precision pipes & auto tubes (CDW/ERW/boiler/engineering tubes), and CR coils, sheets, pipes & tubes/hollow sections. It earns by supplying these fabricated and forged steel components to marquee domestic and export clients across infrastructure, energy, industrial, railway, automobile and defence sectors. Through wholly-owned subsidiary Goodluck Defence & Aerospace Ltd it also manufactures artillery shells under an Industrial License issued under the Indian Arms Act, 1959, supplying components into programmes such as Pralay, Brahmos, Pinaka and K9 Vajra via OEMs/PSUs like L&T Defence, Bharat Earth Movers, Mazagon Dock and DRDO/ISRO-linked entities.

Segments

  • Engineering Structure & Fabrication
  • CR Sheet and Pipes (CR Coils, Pipes & Tubes)
  • Forging Products
  • Precision Pipes and Auto Tubes
Manufacturing plants
7 plants across 2 states (Uttar Pradesh and Gujarat), including a dedicated defence manufacturing facility
Total installed manufacturing capacity
~5,00,000 MTPA (FY26)
Employees
4,000+
Customer base
600+ customers
Export footprint
100+ countries
Artillery shell manufacturing (subsidiary)
Initial capacity of 1,50,000 shells per annum under Goodluck Defence & Aerospace Ltd
Founded 1986Headquarters Ghaziabad, Uttar Pradesh, India Company website

Guidance record · Q1 FY27

what the last two calls moved 39 tracked 3 delivered 18 missed 18 open
  • Defense Segment EBITDA Margin delivered said Q1 FY25 Promised: 15-25% Q1 FY27: Q1 FY27 Defence segment EBITDA margin was 38%, continuing to exceed the original target range and meeting the revised long-term guidance of 30-35%.
  • Total Revenue FY25 went quiet said Q1 FY25 Promised: approx. 4100 crores Q1 FY27: The final outcome for this past-period promise was not addressed.
  • Defence Business Peak Revenue delayed said Q2 FY26 Promised: ₹1,000 crores by FY28 Q1 FY27: Management announced the defense expansion project has been delayed by 6-9 months due to financial closure, pushing the commercialization start to Q4 FY28. This puts the peak revenue target at risk.

All 39 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 22.7%, net profit up 25.0% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue976 942 1,105 983 991 +2%1,032 +10%1,061 −4%1,206 +23%
EBITDA71 80 85 92 92 +30%98 +23%91 +7%101 +10%
Net profit45 40 42 40 41 −9%43 +8%49 +17%50 +25%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −55.1% 1Y

₹0.4k₹0.6k₹0.8k₹1.0k₹1.2k₹1.4kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 10 Nov 2025Q3 FY26 — 16 Feb 2026Q4 FY26 — 27 May 2026Q1 FY27 — 10 Aug 2026

1Y: ₹1,150.6 on 10 Sept 2025 → ₹516.85. High ₹1,437.4 (21 May 2026), low ₹423.27 (13 Aug 2026).

How the price took the results

close before → close after

Q1 FY27
−1.9%
10 Aug
Q4 FY26
−6.2%
28 May
Q3 FY26
+4.4%
16 Feb
Q2 FY26
−3.9%
10 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 9.8% a year over 3 years, FY23 to FY26. Operating margin widened to 9.2%.

Year endingFY23FY24FY25FY26
Revenue₹3.1k Cr₹3.5k Cr₹3.9k Cr₹4.1k Cr
Operating profit₹204 Cr₹283 Cr₹311 Cr₹373 Cr
Operating margin6.6%8.0%7.9%9.2%
Interest₹65 Cr₹78 Cr₹81 Cr₹103 Cr
Depreciation₹33 Cr₹36 Cr₹44 Cr₹62 Cr
Net profit₹87 Cr₹132 Cr₹161 Cr₹173 Cr
Net margin2.8%3.7%4.1%4.3%
Cash from operations₹67 Cr₹-3 Cr₹187 Cr₹207 Cr
Free cash flow₹-11 Cr₹-177 Cr₹-96 Cr₹-24 Cr
ROCE16.0%18.0%16.0%15.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹5 Cr₹5 Cr₹5 Cr₹6 Cr₹7 Cr₹7 Cr
Reserves₹379 Cr₹461 Cr₹614 Cr₹1.0k Cr₹1.4k Cr₹1.4k Cr
Borrowings₹534 Cr₹590 Cr₹598 Cr₹616 Cr₹1.0k Cr₹1.0k Cr
Other liabilities₹180 Cr₹197 Cr₹253 Cr₹269 Cr₹368 Cr₹352 Cr
Total liabilities₹1.1k Cr₹1.3k Cr₹1.5k Cr₹1.9k Cr₹2.8k Cr₹2.7k Cr
Fixed assets₹325 Cr₹362 Cr₹401 Cr₹505 Cr₹808 Cr₹895 Cr
Capital work in progress₹12 Cr₹31 Cr₹37 Cr₹72 Cr₹353 Cr₹90 Cr
Investments₹0 Cr₹1 Cr₹4 Cr₹45 Cr₹15 Cr₹55 Cr
Other assets₹760 Cr₹860 Cr₹1.0k Cr₹1.3k Cr₹1.6k Cr₹1.7k Cr
Total assets₹1.1k Cr₹1.3k Cr₹1.5k Cr₹1.9k Cr₹2.8k Cr₹2.7k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, DIIs added +4.44 pp while the public trimmed −3.27 pp. The shareholder count grew 6% to 38,457.

Promoters
54.0%
FIIs
2.5%
DIIs
6.5%
Public
37.0%

Since Jun 2025

  • DIIs +4.44 pp
  • Public −3.27 pp
  • Promoters −2.44 pp

How it drifted, 12 quarters

Over this window DIIs went from 0.0% to 6.5% — +6.5 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 58.7%, FIIs 0.1%, Public 41.2%.Dec '23: Promoters 56.5%, FIIs 1.2%, DIIs 1.2%, Public 41.1%.Mar '24: Promoters 54.4%, FIIs 5.2%, DIIs 1.9%, Public 38.5%.Jun '24: Promoters 55.8%, FIIs 3.9%, DIIs 1.8%, Public 38.5%.Sep '24: Promoters 55.8%, FIIs 2.6%, DIIs 1.8%, Public 39.8%.Dec '24: Promoters 55.8%, FIIs 1.7%, DIIs 2.0%, Public 40.5%.Mar '25: Promoters 55.8%, FIIs 1.6%, DIIs 2.1%, Public 40.5%.Jun '25: Promoters 56.4%, FIIs 1.2%, DIIs 2.1%, Public 40.3%.Sep '25: Promoters 56.4%, FIIs 2.0%, DIIs 3.2%, Public 38.4%.Dec '25: Promoters 56.4%, FIIs 1.5%, DIIs 4.4%, Public 37.6%.Mar '26: Promoters 56.4%, FIIs 1.6%, DIIs 5.0%, Public 37.0%.Jun '26: Promoters 54.0%, FIIs 2.5%, DIIs 6.5%, Public 37.0%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 8 holders trimming and 1 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Goodluck India Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Nitin Garg 4.47%unchanged
Ashish Garg 3.25%−0.15 pp
Tushar Garg 2.78%unchanged
Sageone-Flagship Growth Oe Fund AIF2.43%+1.15 pp
Shikha Garg 2.36%unchanged
Ram Aggarwal 2.19%unchanged
Umesh Garg 2.18%unchanged
Mithlesh Garg 2.15%unchanged
Neeta Garg 2.03%unchanged
Rajiv Garg 1.92%unchanged
Manish Garg 1.90%−0.87 pp
R C Garg And Sons Huf 1.90%−0.15 pp

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

What the price assumes

Attractive

To justify its price of ₹517, this stock must grow earnings at 1% every year for 7 years. Our analysis caps realistic growth at ~24%. At that growth it is worth ₹1704 — upside of 230%.

Growth the price implies
1.0% a year
for 7 years, fading to 4%
It has actually compounded at
23.5% a year
net profit, FY23–FY26
The gap
-0.2 pp
230% downside if it only repeats history
Price today ₹516.85 Value at the reference growth ₹1,704.31

Change the assumptions yourself →

All earnings calls (8)

Read the Q1 FY27 call →

Learn to analyse Goodluck India Limited

Guides on how to read this kind of business and the numbers that matter.