Key Financials Snapshot

TTM · Consolidated · ₹ in Cr
Market Cap
₹5866 Cr.
Stock P/E
32.1
P/B
3.7
Current Price
₹588.3
Book Value
₹ 157.6
Face Value
2
52W High
₹615
52W Low
₹ 305
Dividend Yield
0.34%

Goodluck India Overview

Business

Goodluck India Ltd. is a leading manufacturer and exporter of a diversified range of steel products. Its core business revolves around processing steel into value-added products. The company primarily manufactures Electric Resistance Welded (ERW) steel tubes and pipes (black and galvanized), cold-rolled (CR) steel strips/coils, cold-formed sections, and fabricated structures. More recently, it has expanded into higher-value products like CDW (Cold Drawn Welded) tubes, seamless tubes, forged components, transmission line towers, and solar structure manufacturing. Goodluck India serves a wide array of industries including automotive, infrastructure, general engineering, power, oil & gas, railways, and renewable energy. The company generates revenue by selling these manufactured steel products in both domestic and international markets, with a significant portion of its sales coming from exports to over 100 countries.

Revenue Mix

Goodluck India's business is broadly categorized into two main segments:

Steel Tubes: This segment includes ERW steel pipes, CDW tubes, and seamless tubes. This is historically the largest segment, contributing approximately 60-65% of the total revenue.

Cold Roll Formed & Other Products: This segment comprises cold-rolled steel strips/coils, cold-formed sections, fabricated structures (including transmission line towers and solar structures), and forged components. This segment typically contributes around 35-40% of the total revenue, and its contribution has been growing with diversification efforts.

Industry

Goodluck India operates within the highly competitive Indian Steel & Iron Products sector, specifically in the downstream value-added segments. While the broader industry includes integrated steel giants like Tata Steel, JSW Steel, and SAIL, Goodluck India positions itself as a specialized manufacturer focusing on specific processed steel products. In the steel tubes and pipes segment, it competes with major players such as APL Apollo Tubes, Ratnamani Metals & Tubes, Surya Roshni, and Welspun Corp. In cold-rolled products and fabricated structures, it competes with various mid-to-large-sized players. Goodluck India differentiates itself through a broad product portfolio, catering to diverse end-user industries, and its established global export footprint, which mitigates reliance on any single domestic market or product category. It is a mid-sized player known for its comprehensive range of value-added steel solutions.

MOAT

Diversified Product Portfolio: Goodluck India's wide array of products across ERW tubes, CR products, fabricated structures, and advanced tubes (CDW, seamless, forged components) reduces its dependence on any single product or market cycle, offering resilience and cross-selling opportunities.

Global Export Footprint: A significant portion of its revenue comes from exports to over 100 countries. This global presence diversifies market risk and allows access to varied demand cycles and international pricing opportunities.

Customization and Value Addition: The company focuses on engineered products like specific fabricated structures (e.g., solar structures, transmission line towers) and specialized tubes, which typically command better margins than generic steel products.

Manufacturing Scale and Capability: While not an integrated steel producer, Goodluck India possesses considerable manufacturing scale and technical capabilities within its niche segments, allowing for cost efficiencies and the ability to handle large or complex orders.

Growth Drivers

Indian Infrastructure Development: Continued government thrust on infrastructure projects (roads, railways, power transmission, urban development) will drive demand for steel pipes, tubes, and fabricated structures.

Renewable Energy Sector Growth: India's ambitious targets for solar power capacity expansion directly benefit Goodluck India's solar structure manufacturing segment.

Automotive and Engineering Sector Demand: Growth in the automotive sector, general engineering, and capital goods industries fuels demand for CR coils, tubes, and forged components.

Capacity Expansion and Product Diversification: Recent and ongoing capacity expansions, along with the introduction of higher-margin products like CDW and seamless tubes, are expected to contribute to revenue and profitability growth.

Export Opportunities: Leveraging its established international network, continued global demand for specialized steel products, particularly from developing economies, can drive export growth.

Risks

Raw Material Price Volatility: Steel manufacturing is highly dependent on raw material prices (e.g., steel billets, HR coils). Volatility in these input costs, if not effectively passed on to customers, can significantly impact profit margins.

Economic Slowdown: A downturn in the Indian economy or key global markets could reduce demand across its end-user industries (automotive, construction, industrial), affecting sales volumes and pricing.

Intense Competition: The steel products sector in India is competitive, with numerous domestic and international players vying for market share, which can put pressure on pricing and margins.

Currency Fluctuations: As a significant exporter, adverse movements in foreign exchange rates can impact export realizations and profitability.

Regulatory and Environmental Compliance: The steel industry is subject to evolving environmental norms and regulations, which could necessitate further investments or impact operational costs.

Geopolitical Risks: Global trade tensions or geopolitical instability could disrupt supply chains or impact demand in key export markets.

Management & Ownership

Goodluck India Ltd. is primarily a promoter-led company with Mr. M.C. Garg serving as the Chairman & Managing Director, and Mr. R.C. Garg as the Joint Managing Director. The promoters, who have a long history with the company, hold a significant stake (typically around 45-50%), indicating a strong alignment of interests with the company's long-term performance. The management team has demonstrated a strategy of diversification into value-added products and expansion into international markets, showcasing experience in navigating the capital-intensive and cyclical steel industry. The ownership structure includes institutional investors and the public, alongside the promoter group.

Outlook

Goodluck India appears to be strategically positioned to capitalize on India's growth trajectory, particularly in infrastructure and renewable energy. The company's diversified product portfolio and significant export presence provide a degree of resilience against domestic market fluctuations. Continued focus on higher-margin, specialized products (like CDW/seamless tubes, fabricated structures for solar/transmission) and ongoing capacity expansions are positive indicators for future revenue and earnings growth. However, the company remains exposed to the inherent cyclicality of the steel industry, marked by raw material price volatility and intense competition, which can impact profitability. While the growth drivers are strong, sustained performance will depend on efficient raw material management, effective capacity utilization, and successful execution of its diversification and export strategies amidst global economic uncertainties.

Goodluck India Share Price

Live · BSE / NSE · Inception: 1986
₹ | |
Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Consolidated · annual

Goodluck India Quarterly Results

#(Fig in Cr.) Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
Net Sales 902 913 976 942 1105 983 991 1037 1088 1287
Other Income 9 5 4 4 8 4 6 2 9 5
Total Income 911 918 981 946 1113 987 998 1039 1097 1292
Total Expenditure 836 838 905 862 1020 891 900 936 975 1153
Operating Profit 75 80 75 84 93 96 98 103 122 140
Interest 15 22 17 20 22 28 26 27 25 30
Depreciation 9 10 10 10 14 15 15 17 20 21
Exceptional Income / Expenses 0 0 14 0 0 0 0 0 0 0
Profit Before Tax 50 48 62 54 57 53 57 59 77 88
Provision for Tax 13 12 16 13 15 13 14 15 21 21
Profit After Tax 37 36 47 41 42 40 43 44 56 67
Adjustments -0 -0 -0 -0 0 -0 -0 -0 -2 -4
Profit After Adjustments 37 36 46 41 42 40 42 44 55 64
Adjusted Earnings Per Share 3.9 3.6 4.7 4.2 4.3 4 4.2 4.4 5.5 6.4

Goodluck India Profit & Loss

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
Net Sales 987 1093 1274 1661 1636 1572 2613 3072 3525 3936 4100 4403
Other Income 12 5 4 3 4 6 4 15 13 35 20 22
Total Income 999 1098 1278 1665 1639 1578 2617 3087 3538 3971 4121 4426
Total Expenditure 897 1006 1175 1535 1508 1456 2430 2868 3243 3625 3702 3964
Operating Profit 102 93 103 130 131 122 187 219 295 346 418 463
Interest 40 48 56 61 60 55 57 66 77 80 106 108
Depreciation 15 18 20 24 26 28 29 33 35 45 67 73
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 47 27 27 45 45 40 101 121 182 221 246 281
Provision for Tax 14 7 11 14 11 10 26 33 50 55 63 71
Profit After Tax 33 20 16 31 34 30 75 88 132 166 183 210
Adjustments 0 0 0 0 0 0 0 0 -0 -1 -2 -6
Profit After Adjustments 33 20 16 31 34 30 75 88 132 165 181 205
Adjusted Earnings Per Share 5 3 2.3 4.6 4.9 4.1 9.6 10.7 13.8 16.8 18.1 20.5

Goodluck India Balance Sheet

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Shareholder's Funds 210 255 278 310 346 383 466 620 1119 1311 1491
Minority's Interest 0 0 0 0 0 0 0 0 32 36 38
Borrowings 99 115 124 121 75 128 117 91 100 162 224
Other Non-Current Liabilities 25 24 29 34 35 37 38 39 45 50 62
Total Current Liabilities 338 404 459 515 543 549 632 721 736 971 1231
Total Liabilities 672 798 890 979 999 1098 1253 1471 2032 2529 3046
Fixed Assets 235 256 252 333 341 325 364 401 522 800 1203
Other Non-Current Assets 11 8 85 9 6 18 37 48 87 264 148
Total Current Assets 426 534 553 637 652 754 853 1022 1423 1465 1696
Total Assets 672 798 890 979 999 1098 1253 1471 2032 2529 3046

Goodluck India Cash Flow

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Opening Cash & Cash Equivalents 13 2 2 2 2 3 1 0 0 105 2
Cash Flow from Operating Activities 57 23 73 57 58 43 78 65 -46 158 200
Cash Flow from Investing Activities -52 -36 -64 -50 -29 -22 -85 -78 -186 -473 -333
Cash Flow from Financing Activities -6 13 -8 -8 -28 -23 6 13 337 212 132
Net Cash Inflow / Outflow -1 -0 0 -0 1 -2 -1 0 104 -103 -1
Closing Cash & Cash Equivalent 12 2 2 2 3 1 0 0 105 2 1

Goodluck India Ratios

# Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Earnings Per Share (Rs) 4.97 2.99 2.32 4.56 4.91 4.09 9.61 10.74 13.84 16.78 18.12
CEPS(Rs) 7.26 5.65 5.2 7.98 8.72 7.83 13.33 14.72 17.58 21.44 25.03
DPS(Rs) 0.5 0.25 0 0 0 0 1.17 1.5 2 1.33 2
Book NAV/Share(Rs) 31.84 38.14 40.32 44.88 49.79 52.15 59.72 73.29 115.5 132.72 149.52
Core EBITDA Margin(%) 8.3 7.23 7.56 7.59 7.82 7.41 7 6.65 8.01 7.9 9.71
EBIT Margin(%) 7.97 6.23 6.37 6.38 6.43 6.03 6.04 6.07 7.37 7.65 8.57
Pre Tax Margin(%) 4.33 2.23 2.06 2.72 2.75 2.56 3.85 3.94 5.18 5.61 5.99
PAT Margin (%) 3.01 1.64 1.22 1.89 2.07 1.91 2.87 2.86 3.75 4.21 4.45
Cash Profit Margin (%) 4.4 3.1 2.75 3.32 3.68 3.66 3.98 3.92 4.75 5.35 6.09
ROA(%) 5.25 2.69 1.89 3.37 3.42 2.87 6.38 6.45 7.55 7.26 6.55
ROE(%) 16.76 8.55 6.03 10.7 10.37 8.27 17.66 16.48 15.56 13.78 13.07
ROCE(%) 16.39 12.21 11.92 13.74 12.59 10.7 16 16.41 17.63 15.35 14.64
Receivable days 53 54.76 55.52 49.52 54.24 55 36.17 37.66 36.35 39.73 43.8
Inventory Days 56.4 63.29 66.1 59.65 69 77.45 54.52 56.33 58.47 57.36 66.06
Payable days 27.04 35.05 36.97 28.95 26.04 27.09 19.54 18.79 18.72 16.2 17.64
PER(x) 6.4 9.4 12.16 4.76 1.72 5.42 9.56 13.22 21.06 13.9 18.11
Price/Book(x) 1 0.74 0.7 0.48 0.17 0.42 1.54 1.94 2.52 1.76 2.2
Dividend Yield(%) 1.57 0.89 0 0 0 0 1.27 1.06 0.69 0.57 0.61
EV/Net Sales(x) 0.56 0.53 0.5 0.38 0.34 0.44 0.5 0.57 0.9 0.79 1.06
EV/Core EBITDA(x) 5.41 6.31 6.12 4.92 4.24 5.61 6.93 7.97 10.77 9.03 10.38
Net Sales Growth(%) -8.27 10.74 16.54 30.42 -1.53 -3.9 66.22 17.56 14.74 11.66 4.18
EBIT Growth(%) 16.14 -13.61 10.9 27.44 -0.81 -9.74 66.47 18.14 39.3 15.89 16.68
PAT Growth(%) 17.71 -39.8 -19.07 96.77 7.67 -11.29 149.64 17.05 50.65 25.22 10.23
EPS Growth(%) 17.71 -39.8 -22.58 96.77 7.67 -16.72 135.24 11.68 28.89 21.26 7.99
Debt/Equity(x) 1.68 1.63 1.62 1.63 1.48 1.39 1.27 1 0.56 0.68 0.75
Current Ratio(x) 1.26 1.32 1.21 1.24 1.2 1.37 1.35 1.42 1.93 1.51 1.38
Quick Ratio(x) 0.72 0.74 0.68 0.65 0.62 0.73 0.67 0.7 1.1 0.86 0.68
Interest Cover(x) 2.19 1.56 1.48 1.74 1.75 1.74 2.75 2.85 3.35 3.75 3.32
Total Debt/Mcap(x) 1.68 2.21 2.32 3.37 8.78 3.28 0.82 0.51 0.22 0.38 0.34

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR +4% +10% +21% +15%
Operating Profit CAGR +21% +24% +28% +15%
PAT CAGR +10% +28% +44% +19%
Share Price CAGR +44% +31% +42% +31%
ROE Average +13% +14% +15% +12%
ROCE Average +15% +16% +16% +14%

Goodluck India Shareholding Pattern

Latest · Jun 2026
100% held
Promoters 54 %
FII 2.48 %
DII (MF + Insurance) 6.5 %
Public (retail) 37.02 %
# Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
Promoter 54.4455.7855.7855.7855.7856.4556.4556.4556.4554
FII 5.23.942.621.711.641.191.971.481.552.48
DII 1.851.811.821.972.062.053.224.414.996.5
Public 38.5138.4739.7840.5340.5240.338.3637.6637.0137.02
Others 0000000000
Total 100100100100100100100100100100

Goodluck India Peer Comparison

Steel & Iron Products Edit Columns

Goodluck India Quarterly Price

10-year quarterly close · BSE
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News & Updates

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Goodluck India Pros & Cons

Pros

  • Company has delivered good profit growth of 43% CAGR over last 5 years

Cons

  • Company has a low return on equity of 14% over the last 3 years.
  • Debtor days have increased from 16.2 to 17.64days.
  • Stock is trading at 3.7 times its book value.
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