Goodluck India Ltd. (GOODLUCK) AI Stock Analysis

• Market Cap: ₹34.16B
• Dividend Yield: 0.38%
• Average Volume (3M): 23.69K
• Price to Earnings (P/E): 20.7
• Beta (1Y): 1.52
• 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: ₹1,125.00 ▲(3.07% 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

Sustained ~10% revenue growth indicates durable demand across construction, infrastructure and industrial end-markets. Over 2–6 months this trend supports expanding customer relationships, higher tonnage sold, and the potential to scale higher-value product mix, strengthening long-term top-line resilience.

Improving Profitability

Notable improvements in gross, net and EBIT margins signal better cost control and more value-added sales. Margin expansion is structural if driven by product mix and processing capabilities, which supports sustained earnings quality and reinvestment capacity over multiple quarters.

Equity-Strong Balance Sheet

A solid equity base and rising ROE provide financial resilience against cyclical steel downturns and improve credit access for project-backed growth. This structural strength supports capital investments and strategic customer fulfilment while limiting dilution risk over the medium term.

Negative Factors

Negative Free Cash Flow

Persistent negative free cash flow undermines internal funding for capex, working capital and shareholder returns. Even with better operating cash flow, reliance on external financing or slower deleveraging can constrain strategic investments and increase liquidity risk over coming quarters.

EBITDA Margin Weakness

Lagging EBITDA margin improvement suggests conversion of operating gains into cash isn't yet optimal. If EBITDA stays constrained, the firm may struggle to build buffer against raw-material cycles, limiting free cash flow upside and reducing flexibility for margin-enhancing initiatives.

Monitored Leverage

A higher debt posture, even if currently manageable, raises sensitivity to interest rates and steel-market volatility. In downturns, leverage can pressure cash flow and restrict capital allocation. Ongoing monitoring is needed to prevent funding stress and preserve investment optionality.

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 makes money primarily by manufacturing and selling steel products across multiple product categories and end-markets. Its core revenue stream comes from the sale of steel tubes and pipes (used in construction, engineering applications, and industrial uses) and from engineered/structural steel products (such as specialized sections and other processed structural items) supplied to fabricators, EPC/project customers, OEMs, and distributors/stockists. Revenue is recognized through (1) volume-based product sales under purchase orders and longer-term customer relationships, and (2) project/order-based deliveries where product specifications, processing, and logistics are tailored to customer requirements. Earnings are driven by a combination of shipped tonnage, product mix (higher value-added/processed products typically carrying different margins than commodity items), conversion value added through manufacturing and processing, and effective procurement of steel inputs. Additional contributors can include exports where realized pricing is influenced by global demand, currency movements, and trade/market access. Specific, named partnerships and their quantitative contribution to earnings are null.

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	40.03B	39.36B	34.84B	30.48B	25.78B	15.48B
Gross Profit	10.61B	10.79B	8.34B	3.71B	3.53B	1.68B
EBITDA	3.60B	3.11B	2.95B	2.19B	1.87B	1.22B
Net Income	1.65B	1.65B	1.32B	878.01M	750.11M	300.47M
Balance Sheet
Total Assets	27.80B	25.29B	20.32B	14.71B	12.53B	10.98B
Cash, Cash Equivalents and Short-Term Investments	466.98M	463.09M	2.11B	4.59M	2.76M	7.93M
Total Debt	10.09B	8.82B	6.12B	5.98B	5.90B	5.34B
Total Liabilities	13.41B	11.83B	8.82B	8.51B	7.88B	7.14B
Stockholders Equity	14.03B	13.11B	11.51B	6.20B	4.66B	3.83B
Cash Flow
Free Cash Flow	-900.88M	-3.33B	-2.42B	-134.09M	-75.63M	198.94M
Operating Cash Flow	570.82M	1.58B	-459.26M	648.88M	777.53M	431.07M
Investing Cash Flow	-1.40B	-4.73B	-1.86B	-781.40M	-846.02M	-221.14M
Financing Cash Flow	823.61M	2.12B	3.37B	133.37M	62.98M	-231.11M

Goodluck India Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1091.50
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• 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 Negative. The current price of 1091.5 is below the 20-day moving average (MA) of 1100.37, below the 50-day MA of 1105.15, and below the 200-day MA of 1119.46, indicating a bearish trend. The MACD of -28.96 indicates Positive momentum. The RSI at 40.36 is Neutral, neither overbought nor oversold. The STOCH value of 32.10 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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	₹37.31B	20.53	―	―	14.11%	-7.20%
GOODLUCK	69 Neutral	₹34.16B	20.71	―	0.38%	9.57%	3.24%
ICIL	67 Neutral	₹46.07B	57.24	―	0.74%	10.86%	-47.15%
JTLIND	66 Neutral	₹20.50B	22.33	―	0.21%	-9.50%	-39.90%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
VSTTILLERS	58 Neutral	₹45.29B	44.47	―	0.35%	21.88%	-20.20%
JISLDVREQS	53 Neutral	₹22.12B	-12.27	―	―	5.79%	9.84%