Goodluck India Ltd

Q3 FY26Industrial Products

Goodluck India Ltd Q3 FY26 Results & Concall Highlights: Revenue, Margins & Order Book

Q3 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹491

Market cap₹5.0K Cr

P/E27.6

Updated23 Aug 2026

Read4 min read

The short version

FY'26 revenue growth guidance remains at 15%-20%, expected to improve in FY'27. FY'27 growth expected to be 15% to 20% including defense business.

From Goodluck India Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

FY'26 revenue growth guidance remains at 15%-20%, expected to improve in FY'27.
Solar tracker tubes revenue projected to increase from INR400 crores this year to INR600-650 crores next financial year.
Defense artillery shells capacity expansion from 150,000 to 400,000 shells per annum, with revenues expected to start from Q1 FY'27, contributing around INR300-350 crores by FY'27.
Combined defense and aerospace business projected to generate INR900-1,000 crores revenue at full capacity, with artillery shells around INR800 crores and aerospace INR200 crores.
Standalone business expected to grow at 15%-20% in FY'27, including defense revenues.
Value-added product mix targeted to increase from 56-60% currently to 60-65% in the near future.
Capacity utilization for hydraulic tubes expected to rise from 40-45% to 60-65% over next two quarters.
Focus on high-margin, value-added products and defense to drive margin expansion and sustainable growth.

Profitability & Margins

FY'27 growth expected to be 15% to 20% including defense business.
Defense artillery shells project revenue to start from Q1 FY'27; full capacity revenue potential of INR800 crores (shells) + INR200 crores (aerospace) planned by FY'28.
EBITDA margins in aerospace expected at 28% to 32%, potentially improving.
Standalone EBITDA margin expected to increase due to improved product and market mix; defense addition to further boost consolidated EBITDA.
INR60-70 crores revenue expected from shell business in Q4 FY'26, contributing positively to EBITDA and PAT.
Pass-through for steel price increases with lag in conventional segments; defense segment less impacted.
Company aims at bottom-line growth over volume; higher value-added product mix to improve margins.
Earnings per share for 9 months FY'26 at INR37.40, showing growth momentum.

See what Goodluck India Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

Capex incurred till December 31, FY'26: INR186 crores; expected capex in Q4 FY'26: ~INR30 crores.
Total capex for augmenting defense artillery shell capacity from 150,000 to 400,000 shells: ~INR400-500 crores.
Financing mix for this capex: ~60% equity (internal accruals) and 40% loan.
Additional capex planned for aerospace critical forging parts (timeline under working).
No specific capex figures announced for FY'27 and FY'28; maintenance capex and new plant capacity augmentations under evaluation.
Management prioritizes defense and aerospace expansion, alongside strengthening high-margin value-added products.
Capex focused on scaling defense operations, increasing value addition, and expanding capacity in sunrise sectors like defense and solar structures.

Top-ranked in Industrial Products

Ranked on what management guided this quarter

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4₹1.1K Cr

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5₹858 Cr

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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

For the defense artillery shells capacity augmentation (INR400 crores capex), the financing mix will be approximately:
- 60% equity (including internal accruals)
- 40% bank loans (debt)
The company plans to finance part of the INR400 crores capex through a mix of internal accruals (equity) and debt.
No specific mention of raising fresh equity beyond this or any new fundraising announcement.
Management intends to continue investing significantly in defense and aerospace segments but has not disclosed additional fundraising plans as of now.

See what Goodluck India Ltd said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

The company has order visibility for the next 1 to 1.5 years in its infrastructure division.
For the automobile division, order visibility extends for the next two quarters, with the final two quarters generally being strong.
The defense and aerospace segment has strong structural demand with confirmed orders and Letters of Intent (LOIs) available for the next two years.
The defense subsidiary is currently booked for the next financial year with eight months of orders secured and LOIs for two years.
The company is confident about capturing emerging opportunities domestically and in exports, supported by healthy fiscal support and recovering market sentiment.

Goodluck India Ltd — Quarterly revenue & net profit

Revenue Net profit

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

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.

Full financials →

What Goodluck India Ltd's management said in earlier quarters

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Oswal Pumps Ltd (Q3 FY26)
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Inox India Ltd (Q3 FY26)
As of December 31, 2025, the order backlog stood at INR 1,457 crores, providing strong revenue visibility. Key concall takeaways from Inox India Ltd's Q3 FY26…

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Frequently Asked Questions

What were Goodluck India Ltd Q3 FY26 results?

FY'26 revenue growth guidance remains at 15%-20%, expected to improve in FY'27. FY'27 growth expected to be 15% to 20% including defense business.

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?

Capex incurred till December 31, FY'26: INR186 crores; expected capex in Q4 FY'26: ~INR30 crores.

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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.