Goodluck India LimitedQuarter ended 30.09.2026 Results & Financial Update
Goodluck India Limited: Quarter ended 30.09.2026 consolidated results and company financials – revenue ₹1,349.83 Cr, PAT ₹50.67 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceReported figures and period changes.Changes compare like-for-like reported periods where available.
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Quarterly Results AnalysisExplore Goodluck India Quarter ended 30.09.2026 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Goodluck India Limited registered consolidated revenue from operations of INR 1,349.83 crore for the second quarter of financial year 2027, marking an increase compared to INR 978.71 crore in the corresponding period of the previous year. Total consolidated income reached INR 1,374.05 crore, supported by robust volume momentum and higher offtake of value-added steel products.
Profit before tax (PBT) for the quarter stood at INR 66.55 crore, compared to INR 57.05 crore in the year-ago period. Profit after tax (PAT) rose to INR 50.67 crore from INR 42.64 crore reported in the same quarter last year, reflecting underlying operational resilience despite cost headwinds. On a sequential basis, however, net profit moderated from INR 67.22 crore reported in the preceding June quarter.
Operating performance during the quarter was underpinned by an 18.1% year-on-year expansion in sales volume, which reached 1,33,374 tonnes compared to 1,12,937 tonnes in Q2 FY26. Management noted that top-line growth benefited from sustained demand across engineering verticals and an expanding international footprint.
Standalone profitability faced pressure from elevated fuel and global freight expenses driven by prevailing geopolitical challenges. These logistics and energy cost escalations compressed standalone margins during the quarter, though half-yearly profitability remained resilient on a cumulative basis.
The company completed a 2:1 bonus issue during August 2026, issuing 66.5 million fully paid-up equity shares of face value Rs 2 each. Consequently, the paid-up equity share capital expanded from Rs 66.5 million to Rs 199.4 million, comprising 99.7 million fully paid-up equity shares, which impacted reported earnings per share metrics on the expanded capital base.
Strategic developments during the period included the board's in-principle approval to amalgamate material subsidiary Goodluck Defence and Aerospace Limited and Goodluck Green Energy Limited into Goodluck India Limited. This proposed restructuring aims to consolidate engineering, defence, and green energy operations under a unified corporate umbrella.
Defence operations achieved a significant technical milestone during the quarter as GDAL emerged as the sole technically qualified bidder for specialised 155 mm HE M1A4 Ready-to-Fill Artillery Shells for Munitions India Limited. Commercial production for defence orders is underway, with initial phases dedicated to trial runs, testing, and validation.
01 · Business model
What does Goodluck India do?
Goodluck India Limited operates as a manufacturer of precision-engineered steel products, serving diverse industrial sectors across both domestic and international markets. Its extensive product portfolio includes specialised steel structures, precision tubes, forged items, and engineered components that cater to critical infrastructure, automotive, oil and gas, and heavy engineering applications.
The company pursues value addition by moving up the technological curve into advanced steel processing and specialised fabrication, allowing it to serve discerning customers across more than 100 countries globally. Export markets form a vital pillar of the revenue model, supported by international distribution networks and quality certifications.
In addition to its core steel engineering foundation, Goodluck India has expanded its strategic footprint into high-technology segments including defence and aerospace manufacturing. Through its material subsidiary, Goodluck Defence and Aerospace Limited (GDAL), the group targets specialized high-margin defense systems and components to diversify its long-term revenue streams.
The operating model relies on maintaining rigorous cost discipline, scaling capacity utilisation, and driving volume growth through value-added product categories. The group coordinates manufacturing operations primarily out of industrial facilities located in Sikandrabad, Uttar Pradesh, while maintaining a corporate focus on integrated engineering excellence and strategic corporate restructuring.
02 · Historical context
What shaped the business before this quarter
The board appointed M/s. Raj Kaushik & Associates as Cost Auditor for financial year 2026-27 to fill a casual vacancy arising from the demise of the previous auditor.
On August 24, 2026, the company allotted two bonus shares for every one existing equity share held, expanding total paid-up equity shares to 99.7 million units.
Goodluck Defence and Aerospace Limited previously received board-approved capital outlays and subsequently expanded its business scope to include aerospace components alongside specialized artillery production.
03 · Financial snapshot
Current quarter vs the two useful baselines
| Metric | Quarter ended 30.09.2026 | Year-ago | Previous quarter |
|---|---|---|---|
| Revenue from operations | ₹1,349.83 Cr | ₹978.71 Cr | ₹1,287.44 Cr |
| Total income | ₹1,374.05 Cr | ₹997.59 Cr | ₹1,292.22 Cr |
| Profit before tax | ₹66.55 Cr | ₹57.05 Cr | ₹88.31 Cr |
| Profit after tax | ₹50.67 Cr | ₹42.64 Cr | ₹67.22 Cr |
| EPS | ₹4.90 | ₹12.43 | ₹19.13 |
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Consolidated sales volume grew by 18.1% year-on-year to 1,33,374 tonnes in Q2 FY27, driven by higher demand for precision-engineered and value-added steel products.
Export revenue expanded by approximately 38% year-on-year, contributing around 28% of total revenue during the first half of the financial year across more than 100 countries.
Total consolidated income reached INR 1,374.05 crore for the quarter, supported by core operating revenue of INR 1,349.83 crore and other operating and non-operating income streams.
What drove margins
Standalone EBITDA margins were impacted during the quarter by higher fuel and global freight costs stemming from current geopolitical challenges.
Management emphasized ongoing initiatives focused on improving operational productivity, optimizing product mix, and enforcing strict cost discipline to protect profitability as operations scale.
Finance costs stood at INR 40.00 crore and depreciation charges reached INR 20.94 crore for the quarter, reflecting ongoing capital investments and borrowing utilization.
05 · Demand, customers & order book
Where demand is coming from
Defence orders secured by subsidiary GDAL are currently under production, with the initial phase comprising trial runs, testing, and validation activities before anticipated revenue realization in the latter part of FY27.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The company operates primarily in the manufacturing of steel products and maintains a single reportable operating segment in compliance with Ind AS 108.
Geography and market mix
The company's products reached customers across more than 100 countries, with export revenue accounting for approximately 28% of total revenue during the half year ended September 30, 2026.
07 · Capacity, projects & execution
What is being built, commissioned or delivered
Projects, capex and execution
Subsidiary Goodluck Defence and Aerospace Limited approved the addition of Aerospace Components as a new business line, backed by an estimated investment of approximately Rs 80 crore and expected benefits of approximately Rs 180 crore within the previously approved capital outlay.
08 · Strategy & new businesses
How the company is trying to change its growth mix
The company amended its main object clause to include the design, development, manufacture, and trade of defence and non-defence systems, as well as hydrogen and hydrogen-based fuels.
09 · Reported developments
What changed operationally
Successfully completed the issuance of 66.5 million bonus shares to reward shareholders and expand the company's equity capital base.
10 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Consolidated net cash generated from operating activities for the half year ended September 30, 2026, stood at an inflow of INR 9.56 crore, compared to an inflow of INR 82.03 crore in the corresponding previous period.
Consolidated cash outflow for capital expenditure on property, plant, and equipment was INR 143.62 crore for the half-year period.
Capital allocation & funding
Consolidated financing activities generated a net cash inflow of INR 407.09 crore for the half year ended September 30, 2026, driven by proceeds from equity shares and debt instruments.
11 · Beyond the numbers
What changed beyond the numbers
Reported update
Registered Office Relocation
The board approved shifting the company's registered office from the Union Territory of Delhi to the State of Uttarakhand, subject to regulatory compliance.
Reported update
Cost Auditor Appointment
Appointed M/s. Raj Kaushik & Associates as Cost Auditor for the financial year 2026-27.
12 · Previous-quarter changes
What changed since the previous quarter
Consolidated net profit moderated from INR 67.22 crore in Q1 FY27 to INR 50.67 crore in Q2 FY27 amidst rising input and freight pressures.
13 · Key Q&A
The quarter, answered directly
What does Goodluck India do?
Goodluck India Limited operates as a manufacturer of precision-engineered steel products, serving diverse industrial sectors across both domestic and international markets. Its extensive product portfolio includes specialised steel structures, precision tubes, forged items, and engineered components that cater to critical infrastructure, automotive, oil and gas, and heavy engineering applications.
What is the clearest takeaway from Quarter ended 30.09.2026?
Goodluck India Limited registered consolidated revenue from operations of INR 1,349.83 crore for the second quarter of financial year 2027, marking an increase compared to INR 978.71 crore in the corresponding period of the previous year. Total consolidated income reached INR 1,374.05 crore, supported by robust volume momentum and higher offtake of value-added steel products.
What drove revenue or demand?
Consolidated sales volume grew by 18.1% year-on-year to 1,33,374 tonnes in Q2 FY27, driven by higher demand for precision-engineered and value-added steel products.
What mattered most for margins or profitability?
Standalone EBITDA margins were impacted during the quarter by higher fuel and global freight costs stemming from current geopolitical challenges.
What changed operationally beyond the headline numbers?
Subsidiary Goodluck Defence and Aerospace Limited approved the addition of Aerospace Components as a new business line, backed by an estimated investment of approximately Rs 80 crore and expected benefits of approximately Rs 180 crore within the previously approved capital outlay.
What should the next disclosure help confirm?
Monitor the transition of defence orders from trial runs and validation phases to commercial revenue contribution in the second half of FY27.
14 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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15 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Defence Commercialization Progress: Monitor the transition of defence orders from trial runs and validation phases to commercial revenue contribution in the second half of FY27.
- 02
Amalgamation Scheme Finalization: Track further disclosures regarding the detailed terms, financial structure, and implementation of the proposed amalgamation of GDAL and Goodluck Green Energy into Goodluck India Limited.
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