Manufactures and sells steel products, with FY26 sales volume of 468,161 metric tonnes at roughly 94% capacity utilisation. The core business produces carbon steel, value-added and precision-engineered steel items for industrial customers, with solar mounting structures identified as a specific growing line — solar structure volumes rose 33% year-on-year in Q4 FY26. Through subsidiary Goodluck Defence and Aerospace, it has entered artillery shell manufacturing, with a new facility inaugurated in October 2025 having an annual capacity of 150,000 shells, targeted to scale to 400,000 within 12 months. Defence orders disclosed include a Rs 255 crore contract for 155mm long-range shells (10-month delivery) and a Rs 52.20 crore order for 20,000 155mm shells (3-month delivery). The subsidiary has also received DGQA certification to supply 155mm M107 Ready-to-Fill shells to the Indian government. FY26 total income was Rs 41,205 million, with EBITDA margin at 10.2% and the management attributing margin expansion to a shift toward value-added and precision-engineered products. Materials account for 72.7% of revenue, making raw steel the dominant cost input. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Steel products, Solar mounting structures, Defence - artillery shells. Asset-heavy steel manufacturer expanding into defence and renewables
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 2,613 | 3,072 | 3,525 | 3,936 | 4,100 |
| EBITDA (ex other income) | 183 | 204 | 282 | 311 | 398 |
| margin % | 7.0 | 6.7 | 8.0 | 7.9 | 9.7 |
| Owners' profit | 75 | 88 | 132 | 165 | 181 |
| EPS, as reported (₹) | 29.48 | 33.31 | 46.41 | 50.66 | 56.07 |
| ROE % · ROCE % | 16.1 · 25.4 | 14.2 · 24.9 | 11.5 · 20.1 | 12.3 · 19.3 | 11.9 · 19.4 |
| Debt / equity (x) | 1.16 | 0.96 | 0.53 | 0.65 | 0.73 |
| Cash from operations | 78 | 65 | (46) | 158 | 200 |
| Capex | (85) | (78) | (196) | (491) | (348) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 976 | 942 | 1,105 | 983 | 991 | 1,037 | 1,088 | 1,287 |
| Profit before tax | 62 | 54 | 57 | 53 | 57 | 59 | 77 | 88 |
| Net profit | 47 | 41 | 42 | 40 | 43 | 44 | 56 | 67 |
| EPS (₹) | 14.14 | 12.12 | 13.21 | 12.62 | 12.43 | 12.83 | 18.20 | 19.13 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| WELSPUN CORP LIMITED | 70,880 | 30.7 | 7.54 | 30.2 | 17.2 | 14.9 | 21.1 | 18.5 |
| APL APOLLO TUBES LTD | 59,803 | 48.6 | 11.29 | 31.1 | 22.7 | 26.1 | 22.1 | 8.0 |
| SHYAM METALICS AND ENGY L | 29,979 | 26.8 | 2.43 | 12.2 | 8.6 | 11.4 | 24.1 | 14.9 |
| JINDAL SAW LIMITED | 20,016 | 30.5 | 1.63 | 10.5 | 7.5 | 6.8 | 10.9 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · Goodluck India 40th AGM notice published in newspapers | compliance | minimal | — | — |
| 11 Sept 2026 · Newspaper publication for 40th AGM on September 30, 2026 | compliance | minimal | — | — |
| 8 Sept 2026 · Goodluck India files BRSR sustainability report for FY 2025-26 | compliance | minimal | — | — |
| 8 Sept 2026 · Goodluck India fixes 23 September 2026 record date for dividend and AGM | corporate actions | medium | — | — |
| 8 Sept 2026 · AGM notice for Sep 30, 2026; final dividend Rs 1/share; bonus issue completed | board shareholder meetings | low | — | — |
| 8 Sept 2026 · Q1 FY27 Results: Revenue up 31%, PAT up 67% YoY; 2:1 Bonus Issue Declared | results | high | — | — |
| 7 Sept 2026 · Newspaper ad published for 40th AGM notice | compliance | minimal | — | — |
| 5 Sept 2026 · Goodluck India alters MOA objects and appoints new Group CFO | corporate actions | medium | — | — |
| 5 Sept 2026 · Goodluck India appoints Ashok Kumar Vashisht as Group CFO | management changes | high | — | — |
| 25 Aug 2026 · Closure of wholly-owned subsidiary GLS Steel India Limited | strategic transactions | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| 9.4 |
| RATNAMANI MET & TUB LTD. | 19,815 | 45.8 | 4.71 | 23.1 | 12.7 | 15.6 | 14.4 | 18.5 |
| GODAWARI POW & ISP LTD | 15,875 | 18.6 | 2.71 | 12.0 | 13.7 | 17.0 | 5.7 | 21.0 |
| USHA MARTIN LTD. | 15,069 | 29.7 | 4.56 | 19.8 | 14.1 | 17.7 | 12.0 | 21.0 |
| GALLANTT ISPAT LIMITED | 13,270 | 30.6 | 4.00 | 17.7 | 14.6 | 16.8 | 34.4 | 17.8 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 8.3 | 16.2 | 28 of 118 | 77% |
| P/B | 1.1 | 1.7 | 30 of 99 | 69% |
| ROCE | 13.5 | 8.7 | 37 of 120 | 70% |
| ROE | 11.9 | 8.6 | 35 of 114 | 70% |
| Debt / Equity | 0.7 | 0.1 | 99 of 114 | 13% |
| EBITDA margin | 10.8 | 11.0 | 51 of 100 | 50% |
| Revenue growth | 30.9 | 13.7 | 25 of 97 | 75% |
| Profit growth | 67.4 | 29.3 | 37 of 105 | 65% |
| Market cap | 1720 | 247 | 29 of 120 | 77% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
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