Goodluck India Ltd. (GOODLUCK) AI Stock Analysis

Goodluck India Ltd.

(NSE:GOODLUCK)

Select Model

Rating:61Neutral

Price Target:INR 521.00▲(5.57% Upside)

Action:reiterated

Date:10/13/26

The score is held back primarily by weak cash generation (recurring negative free cash flow and uneven operating cash flow), despite strong revenue growth and improved profitability. Technicals are a positive offset with a clear uptrend and supportive momentum. Valuation is moderately unattractive with a ~27 P/E and low dividend yield.

Positive Factors

Meaningful Revenue ExpansionRevenue expansion of this magnitude indicates a substantially larger operating base and broader sales capacity across steel products. If the company sustains this scale, it can support stronger customer reach, improve fixed-cost absorption, and create a durable platform for future earnings growth.

Negative Factors

Persistent Negative Free Cash FlowRecurring negative free cash flow means reported earnings are not translating into cash available after investment needs. Continued cash consumption can increase reliance on external funding, constrain discretionary spending, and make the business more vulnerable if operating conditions weaken over the next several quarters.

Goodluck India Ltd. (GOODLUCK) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 48.46B
Dividend Yield: 0.40%
Average Volume (3M): 77.70K
Price to Earnings (P/E): 22.9
Beta (1Y): 1.61
Revenue Growth: 9.94%
EPS Growth: 19.43%
Country: India
Employees: 3,212
Sector: General
Sector Strength: 55
Industry: Steel

Goodluck India Ltd. Business Overview & Revenue Model

Company Description

Goodluck India Limited manufactures and supplies precision engineering and steel products in India. The company provides electric resistance welded and cold drawn welded tubes, custom forgings, power and telecom towers, solar structures, ERW hot dip...

How the Company Makes Money

Goodluck India Ltd. makes money primarily by manufacturing and selling steel products. Its core revenue model is product sales, where revenue is recognized from supplying finished steel items—such as structural steel products and steel tubes/pipes—to...

Goodluck India Ltd. Financial Statement Overview

Summary

Strong revenue growth and improved profitability support results, and leverage metrics have improved versus earlier years. However, cash conversion is a major weakness: free cash flow is negative in most years and materially negative in the latest period, with inconsistent operating cash flow and low operating cash flow to net income, increasing funding and cycle risk.

Income Statement

74Positive

Balance Sheet

63Positive

Cash Flow

38Negative

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	47.73B	41.00B	39.36B	34.84B	30.48B	25.78B
Gross Profit	11.96B	9.84B	10.79B	8.34B	3.71B	3.53B
EBITDA	4.67B	4.18B	3.11B	2.95B	2.19B	1.87B
Net Income	2.11B	1.81B	1.65B	1.32B	878.01M	750.11M
Balance Sheet
Total Assets	37.70B	30.46B	25.29B	20.32B	14.71B	12.53B
Cash, Cash Equivalents and Short-Term Investments	3.05B	495.13M	463.09M	2.11B	4.59M	2.76M
Total Debt	13.51B	11.19B	8.82B	6.12B	5.98B	5.90B
Total Liabilities	18.88B	15.18B	11.83B	8.82B	8.51B	7.88B
Stockholders Equity	17.44B	14.91B	13.11B	11.51B	6.20B	4.66B
Cash Flow
Free Cash Flow	0	-2.38B	-3.33B	-2.42B	-134.09M	-75.63M
Operating Cash Flow	0	1.10B	1.58B	-459.26M	648.88M	777.53M
Investing Cash Flow	0	-3.48B	-4.73B	-1.86B	-781.40M	-846.02M
Financing Cash Flow	0	2.38B	2.12B	3.37B	133.37M	62.98M

Goodluck India Ltd. Technical Analysis

Technical Analysis SentimentNegative

Last Price493.50

Price Trends

50DMA511.98Negative

100DMA498.24Negative

200DMA444.14Positive

Market Momentum

MACD3.84Positive

RSI40.17Neutral

STOCH13.21Positive

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 493.50 is below the 20-day moving average (MA) of 539.20, below the 50-day MA of 511.98, and above the 200-day MA of 444.14, indicating a neutral trend. The MACD of 3.84 indicates Positive momentum. The RSI at 40.17 is Neutral, neither overbought nor oversold. The STOCH value of 13.21 is Positive, 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

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:GOODLUCK against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:WELCORP	74Outperform	INR 615.85B	26.07	―	0.21%	13.62%	9.05%
IN:RATNAMANI	71Outperform	INR 162.60B	37.55	―	0.43%	-16.30%	-24.14%
IN:APLAPOLLO	70Outperform	INR 600.02B	46.05	―	0.39%	15.83%	24.85%
IN:GOODLUCK	61Neutral	INR 49.21B	22.95	―	0.40%	9.94%	19.43%
IN:JINDALSAW	61Neutral	INR 146.03B	26.52	―	0.88%	-0.73%	-60.06%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:MANINDS	55Neutral	INR 54.45B	26.52	―	―	10.75%	9.71%

* General Sector Average

Performance Comparison

IN:GOODLUCK and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:GOODLUCK	Goodluck India Ltd.	493.50	73.48	17.50%
IN:APLAPOLLO	APL Apollo Tubes Limited	2161.00	370.34	20.68%
IN:JINDALSAW	Jindal Saw Limited	228.35	55.59	32.18%
IN:MANINDS	Man Industries (India) Limited	725.95	326.55	81.76%
IN:RATNAMANI	Ratnamani Metals & Tubes Ltd.	2319.85	-150.56	-6.09%
IN:WELCORP	Welspun Corp Limited	2334.60	1384.76	145.79%

Goodluck India Ltd. Corporate Events

Goodluck Defence & Aerospace Raises ₹276 Crore, Boosts Artillery Shell Capacity

Sep 27, 2026

Goodluck Defence and Aerospace Limited, a subsidiary of Goodluck India Limited, has raised ₹276 crore through a preferential issue of 73.6 lakh equity shares at ₹375 each to non-promoter investors. Following this transaction, Goodluck Ind...

Goodluck India Closes Trading Window Ahead of September Quarter Results

Sep 26, 2026

Goodluck India Ltd. has announced the closure of its trading window for designated persons and their immediate relatives from October 1, 2026, in line with SEBI’s Prohibition of Insider Trading Regulations and its internal code of conduct. The...

Goodluck India Approves 2-for-1 Bonus Share Issue, Triples Paid-Up Capital

Aug 24, 2026

Goodluck India Ltd. has approved the allotment of 664,770,18 bonus equity shares of Rs. 2 each, credited as fully paid-up to shareholders of record as of August 21, 2026, in a 2-for-1 ratio for every existing share. This bonus issue, funded by capita...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 13, 2026

Goodluck India Ltd. AI Stock Analysis