Goodluck India Ltd. (GOODLUCK) AI Stock Analysis

• Market Cap: ₹37.81B
• Dividend Yield: 0.38%
• Average Volume (3M): 23.69K
• Price to Earnings (P/E): 23.2
• Beta (1Y): 1.56
• Revenue Growth: 9.57%
• EPS Growth: 3.24%
• Country: IN
• Employees: 2,647
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Steel
• EPS (TTM): 15.69
• Shares Outstanding: 33,238,510
• 10 Day Avg. Volume: 9,536
• 30 Day Avg. Volume: 23,691
• PEG Ratio: 1.59
• Price to Book (P/B): 1.83
• Price to Sales (P/S): 0.61
• P/FCF Ratio: -7.22
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 59.95
• Revenue Forecast (FY): ₹43.21B

• Rating: 69 Neutral
• Price Target: ₹1,254.00 ▲(14.89% Upside)
• Action: Downgraded Date: 02/04/26
• Date: Action: Downgraded 02/04/26

The score is primarily driven by solid financial performance—especially revenue growth and improving profitability—offset by weaker cash generation due to negative free cash flow. Technicals are mixed (supportive moving averages but negative MACD), and valuation is a modest headwind given the P/E and low dividend yield.

Positive Factors

Revenue Growth Trend

Sustained ~9.6% revenue growth reflects durable demand across construction, infrastructure and industrial end-markets. Continued top-line expansion supports scale benefits, broader customer reach and stronger bargaining power with suppliers over multiple quarters.

Improving Profitability and Margins

Improvements in gross, net and EBIT margins indicate lasting operational gains and better product mix toward value-added steel. Higher conversion value and procurement efficiency support margin sustainability, enhancing earnings quality and resilience to commodity swings over months.

Healthy Equity Base / ROE Improvement

A strong equity ratio and rising ROE provide financial ballast for funding growth and absorbing cyclical downturns. A solid equity base reduces refinancing risk and enhances capacity to invest in capacity or product upgrades without immediate reliance on volatile external capital.

Negative Factors

Negative Free Cash Flow

Persistent negative free cash flow despite healthier operating cash flow signals capital expenditure or working capital strain. This undermines the company’s ability to self-fund capex, pay down debt or return capital, raising reliance on external financing over the medium term.

Elevated Leverage Risks

A materially elevated debt level, even if currently manageable, increases interest expense and refinancing vulnerability if market conditions tighten. Leverage can constrain strategic flexibility, limit investment choices and magnify earnings pressure during demand slowdowns.

Lagging EBITDA Margin Improvement

Slower progress in EBITDA margin versus other profitability metrics indicates residual operating inefficiencies or cost pressures. Without structural improvement in core operating profitability, cash conversion and resilience to raw-material swings may remain constrained.

Goodluck India Ltd. Business Overview & Revenue Model

Company Description

Goodluck India Limited manufactures and exports a range of galvanized sheets and coils, towers, hollow sections, cold rolled coils, flanges, and pipes and tubes worldwide. The company provides galvanized pipes, including welded tubes and pipes, hot dip galvanized pipes, black pipes, grooved pipes, pre galvanized pipes, and casing and screen pipes; square and rectangular pipes, such as square, rectangular, and round hollow sections; and cold rolled coils and sheets, galvanized coils, galvanized sheets, cold rolled close annealed, and pickling and oiling of HR coils. It also offers cold drawn welded (CDW) tubes comprising CDW/DOM, seamless, precision, bicycle frame, engineering, boiler, heat exchanger, propeller shaft, transformer, fuel and air, furniture, structural, and telescopic front fork tubes, as well as bobbin tubes for textile machines, automotive shock absorbers, and steel tubes for automobiles. In addition, the company provides forgings; and substation structures, support structures for boiler and other equipment, infrastructure project structures, ducting support structures, solar module mounting structures, and fabricated equipment, as well as transmission and telecom towers. It serves clients from public sector, private sector OEMs, and central and state government departments. The company was formerly known as Good Luck Steel Tubes Limited and changed its name to Goodluck India Limited in June 2016. Goodluck India Limited was incorporated in 1986 and is based in Ghaziabad, India.

How the Company Makes Money

Goodluck India Ltd. generates revenue primarily through the manufacturing and sale of its extensive range of steel products. The company's key revenue streams include the domestic sale of galvanized sheets, coils, and pipes to the construction and infrastructure sectors, as well as the export of its products to international markets. Additionally, the company leverages significant partnerships with automotive and engineering firms, providing customized and precision-engineered steel components. Goodluck India Ltd.'s earnings are further bolstered by its strategic investments in technology and manufacturing capabilities, enabling the production of high-quality and cost-effective products that meet diverse industry standards.

Goodluck India Ltd. Financial Statement Overview

Summary

Strong revenue growth and improving profitability (better gross/net margins and stronger EBIT margin) support the score. Balance sheet is generally healthy with an improved ROE and solid equity ratio, but leverage needs monitoring. Cash flow is the main drag due to negative free cash flow despite improved operating cash flow.

Income Statement

Goodluck India Ltd. has shown consistent growth in revenue, with significant increases over the past few years. Gross profit margin and net profit margin have improved, indicating enhanced profitability. The EBIT margin has also strengthened significantly, as observed in the latest reports. However, the EBITDA margin needs attention due to its lower relative improvement.

Balance Sheet

The company's balance sheet reflects a healthy equity ratio, indicating a strong equity base relative to total assets. The debt-to-equity ratio is manageable but requires monitoring to avoid potential leverage risks. Return on Equity has improved, showcasing effective utilization of equity, yet the high level of debt could pose risks if not managed properly.

Cash Flow

While operating cash flow has improved over time, Goodluck India Ltd. faces challenges with negative free cash flow, indicating a need for better capital expenditure management. The operating cash flow to net income ratio is healthy, but the free cash flow to net income ratio highlights a need for strategic improvements.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	39.87B	39.36B	34.84B	30.48B	25.78B	15.48B
Gross Profit	10.50B	10.79B	8.34B	3.71B	3.53B	1.68B
EBITDA	3.51B	3.11B	2.95B	2.19B	1.87B	1.22B
Net Income	1.69B	1.65B	1.32B	878.01M	750.11M	300.47M
Balance Sheet
Total Assets	0.00	25.29B	20.32B	14.71B	12.53B	10.98B
Cash, Cash Equivalents and Short-Term Investments	463.09M	463.09M	2.11B	4.59M	2.76M	7.93M
Total Debt	0.00	8.82B	6.12B	5.98B	5.90B	5.34B
Total Liabilities	-13.47B	11.83B	8.82B	8.51B	7.88B	7.14B
Stockholders Equity	13.47B	13.11B	11.51B	6.20B	4.66B	3.83B
Cash Flow
Free Cash Flow	0.00	-3.33B	-2.42B	-134.09M	-75.63M	198.94M
Operating Cash Flow	0.00	1.58B	-459.26M	648.88M	777.53M	431.07M
Investing Cash Flow	0.00	-4.73B	-1.86B	-781.40M	-846.02M	-221.14M
Financing Cash Flow	0.00	2.12B	3.37B	133.37M	62.98M	-231.11M

Goodluck India Ltd. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 1091.50
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:GOODLUCK, the sentiment is Neutral. The current price of 1091.5 is below the 20-day moving average (MA) of 1165.58, below the 50-day MA of 1106.78, and below the 200-day MA of 1109.35, indicating a neutral trend. The MACD of 22.19 indicates Positive momentum. The RSI at 47.81 is Neutral, neither overbought nor oversold. The STOCH value of 44.34 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:GOODLUCK.

Goodluck India Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
STYLAMIND	74 Outperform	₹37.49B	27.14	―	―	14.11%	-7.20%
GOODLUCK	69 Neutral	₹37.81B	23.24	―	0.38%	9.57%	3.24%
ICIL	67 Neutral	₹51.97B	46.80	―	0.74%	10.86%	-47.15%
JTLIND	66 Neutral	₹21.99B	31.55	―	0.21%	-9.50%	-39.90%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
VSTTILLERS	58 Neutral	₹48.71B	40.26	―	0.35%	21.88%	-20.20%
JISLDVREQS	54 Neutral	₹25.79B	85.22	―	―	5.79%	9.84%

Goodluck India Ltd. Corporate Events

Goodluck India Ltd. Secures USD 6 Million Defense Export Order

Goodluck Defence and Aerospace Limited, a subsidiary of Goodluck India Ltd., has secured a significant export order worth USD 6 million for 155mm M107 Ready-to-Fill Shells. This order enhances the company’s position in the global defense market, potentially boosting its operational capabilities and market presence.

Goodluck India Limited Releases Q2 2025 Financial Results

Goodluck India Limited announced the approval of its standalone and consolidated unaudited financial results for the quarter and half-year ending September 30, 2025, following a board meeting held on November 8, 2025. The results, reviewed by the statutory auditor, were released to the public, and the trading window closure will end 48 hours after the announcement. This financial disclosure is crucial for stakeholders as it provides insights into the company’s financial health and operational performance, potentially impacting investor decisions and market perceptions.

Goodluck India Limited Releases Q2 2025 Financial Results

Goodluck India Limited announced its financial results for the quarter and half-year ending September 30, 2025, which were approved by the Board of Directors. The results, reviewed by the statutory auditor, indicate the company’s financial performance during this period. The trading window will close 48 hours after the public release of these results, impacting stakeholders by providing insights into the company’s operational efficiency and market positioning.