Goodluck India Ltd
Goodluck India Ltd Q2 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Q2 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Goodluck India Limited targets a long-term revenue growth of 15% - 20% year-on-year. - For FY ‘26 and FY ‘27, the company expects to maintain this 15% to 20% growth trajectory. - Sales volume increased by 9.5% in Q2 FY2026 compared to the previous year. - The artillery shell business aims to ramp up capacity from 1.5 lakh to 4 lakh shells by FY ‘28. - At peak capacity, the shell business is expected to generate Rs. The company targets a long-term revenue growth of 15% to 20% annually, inclusive of defence revenue (Pages 14-15, 20). - Defence business EBITDA margin expected to be in the range of 30%-35%, potentially leading to a significant bump in overall EBITDA margin by 300-400 bps over three years (Pages 16-17). - Defence business ROCE expected around 20%-25% plus (Page 17). - Earnings per share (EPS) for Q2 FY 2026 stood at Rs.
From Goodluck India Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Goodluck India Limited targets a long-term revenue growth of 15% - 20% year-on-year.
- For FY ‘26 and FY ‘27, the company expects to maintain this 15% to 20% growth trajectory.
- Sales volume increased by 9.5% in Q2 FY2026 compared to the previous year.
- The artillery shell business aims to ramp up capacity from 1.5 lakh to 4 lakh shells by FY ‘28.
- At peak capacity, the shell business is expected to generate Rs. 800 crores revenue by FY ‘28.
- Missile and aerospace business anticipates peak revenues of Rs. 200 crores.
- The green energy segment (solar support structures) is projected to contribute Rs. 500-600 crores revenue by FY ‘27.
- Defence business revenue will increase significantly and is expected to boost overall EBITDA margins.
- Current capacity expansions and new product lines contribute to optimistic future volume and revenue growth.
Profitability & Margins
See what Goodluck India Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Goodluck India is undertaking a significant CAPEX of Rs. 400-500 crores to expand defence shell production capacity from 1.5 lakh to 4 lakh shells per annum within the next year.
- This investment also includes setting up ring rolling and press facilities for manufacturing missile outer parts and aerospace components.
- The CAPEX will be funded through a mix of debt and equity, with peak long-term debt comfortable at Rs. 300-350 crores, including an additional borrowing of Rs. 50-100 crores for expansion.
- The Hydraulic Tube segment, commissioned in January 2025, plans capacity augmentation by adding 50,000 MT per annum once it reaches ~80% utilization.
- Strategic partnership in the Advanced Medium Combat Aircraft (AMCA) program via Goodluck Defence and Aerospace subsidiary, with an Expression of Interest filed.
- Overall, the company is focused on building capability in defence, aerospace, and green energy sectors to capitalize on growing demand.
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Ranked on what management guided this quarter
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Fundraising & Capital Structure
See what Goodluck India Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- The artillery shell division started commercial production in October 2025.
- There is no traditional order book for the defence shell product because demand outstrips supply.
- The company has visibility of demand and supply for the next 2-3 years.
- Existing orders, both domestic and international, are sufficient to support current and planned capacity expansions.
- The artillery shells capacity is planned to increase from 1.5 lakh to 4 lakh shells per annum.
- No specific value of pending orders or order backlog was disclosed due to strategic reasons.
- International customers have audited facilities and have received supplied samples.
- Demand is strong globally as artillery shells remain a scarce product.
Goodluck India Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹1.1K Cr, net profit ₹56 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Goodluck India Ltd's management said in earlier quarters
- Q1 FY27 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q1 FY26 earnings call analysis →
- Q4 FY25 earnings call analysis →
- Q3 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q4 FY22 earnings call →
- Q3 FY22 earnings call →
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Frequently Asked Questions
What were Goodluck India Ltd Q2 FY26 results?
Goodluck India Limited targets a long-term revenue growth of 15% - 20% year-on-year. - For FY ‘26 and FY ‘27, the company expects to maintain this 15% to 20% growth trajectory. - Sales volume increased by 9.5% in Q2 FY2026 compared to the previous year. - The artillery shell business aims to ramp up capacity from 1.5 lakh to 4 lakh shells by FY ‘28. - At peak capacity, the shell business is expected to generate Rs. The company targets a long-term revenue growth of 15% to 20% annually, inclusive of defence revenue (Pages 14-15, 20). - Defence business EBITDA margin expected to be in the range of 30%-35%, potentially leading to a significant bump in overall EBITDA margin by 300-400 bps over three years (Pages 16-17). - Defence business ROCE expected around 20%-25% plus (Page 17). - Earnings per share (EPS) for Q2 FY 2026 stood at Rs.
What is Goodluck India Ltd share price analysis?
Goodluck India Ltd currently shows a neutral. The stock trades at a P/E of 27.6 with a market cap of ₹4,978 Cr. Investors should review the full earnings analysis for detailed insights.
Is Goodluck India Ltd planning capital expenditure?
Goodluck India is undertaking a significant CAPEX of Rs.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.