

Our strength and resilience are underpinned by over three decades of experience in steel manufacturing, supported by our advanced manufacturing capabilities and a total installed capacity of 412,000 MT across six facilities in Uttar Pradesh and Gujarat. We boast a distinguished client base and serve esteemed customers across all business segments.
₹ 783.50 C CRORES
Revenue from Engineering Structure & Precision Fabrication
₹ 517.92 CRORES
Revenue from Forging
₹ 925.84 CRORES
Revenue from Precision Tubes & Auto Tubes
₹ 1,256.60 CRORES
Revenue from CR Coils, Pipes & Tubes
Dear Valued Stakeholders,
As a chairman, It is both an honour and privilege to lead a company that stands at the forefront of innovation and excellence in our Industry.
Our Strategic Product Portfolio
At Goodluck India Limited we take pride in our diverse and high-quality product offerings that cater to various industries and customer needs. Our product portfolio is designed to meet the evolving demands of the market and maintain the highest standard of excellence. We are actively involved in the manufacturing and export of a diverse array of high-value engineered steel products. Our portfolio includes Engineering Structures, Forging for Defence and Aerospace, Precision Auto Tubes, Cold Rolled (CR) Products, and Galvanized Iron (GI) Pipes. We serve a variety of sectors, including Automotive, Infrastructure, High-Speed Railways, Specialized Infrastructure, Solar, and Aerospace and Defence components. Notably, the Automotive, Railways, Solar, and Oil and Gas industries are recognised as our sunrise sectors, driving our growth and innovation in these key markets.
Our strength and resilience are underpinned by over three decades of experience in steel manufacturing, supported by our advanced manufacturing capabilities and a total installed capacity of 412,000 MT across six facilities in Uttar Pradesh and Gujarat. We boast a distinguished client base and serve esteemed customers across all business segments. Our global reach extends to over 100 countries, complemented by a state-of-the-art quality testing laboratory. Additionally, our robust and highly motivated workforce of over 4,000 persons further enhance our operational excellence and commitment to quality
Macro-economic Scenario
Amid uncertainties in the global economic landscape, the Indian economy demonstrated remarkable resilience, emerging as a bright spot in the world. India achieved an impressive growth rate of 8.2% in FY 2023-24, surpassing the 7% growth recorded in the previous year. This expansion can be attributed to strong domestic demand, robust private investment, and sustained momentum in manufacturing. Moreover, proactive interventions by RBI have ensured that inflation has not spiralled out of control and the economy has stayed on the growth path.
The global economy faces challenges due to various local and geopolitical factors, leading to a general slowdown. In contrast, India is performing well, transitioning from a consumption-based economy to becoming a global manufacturing hub, especially under the “China Plus One” policy which benefits Indian industries. Goodluck India Limited is well-positioned to leverage this shift with our diverse product offerings across the automotive, oil & gas, defence, infrastructure, and renewable energy sectors.
Our automotive segment, particularly in auto tubes, is thriving, as India remains underdeveloped in vehicle consumption compared to global standards. The construction sector’s global buoyancy, coupled with our new hydraulic tube products, promises substantial growth. Additionally, India’s pivot towards exporting armory, with new production set to begin in April 2025, opens up significant opportunities for us.
The infrastructure boom in India, encompassing upgrades in roads, rail, and air travel, presents further potential. Our established market presence in steel bridges, power equipment, and telecom towers positions us for continued success in this expanding sector. Despite global economic uncertainties, the company remains resilient and adaptable, ready to capitalize on these positive trends.
A Remarkable Year in Review
As we reflect on the past year, specifically up until March 2024, we are pleased to report outstanding results that mark it as the best year for our company. The efforts put forth by our dedicated team have proven to be highly effective, leading to significant advancements in profitability and overall performance across all metrics. The consolidated total revenue for the FY 2023-24 stood at ₹ 3,537.73 Crores as compared to ₹ 3,086.80 Crores in the Previous year. The EBITDA was up by 34.44% to ₹ 295.19 Crores and PAT grew by 50.65 % to ₹ 132.27 Crores.
While examining the profitability of our standalone company, we witnessed EBITDA grew from ` 218 Crores last year to ₹ 292 Crores this year, marking an increase of 34.2%. In terms of profitability, it grew ₹ 130.5 Crores, up from ₹ 86.90 Crores last year, which represents an impressive increase of 50.17 %. Profit Before Tax stood at ₹ 120 Crores, while this year it has risen to ₹ 179 Crores, reflecting a growth of 49.77% in PBT.
We are excited about our state-of-theart hydraulic tube plant which will primarily support export markets and is expected to be a game changer for the company especially with the marketing agreements already in place for Europe, Canada and Mexico. Additionally, our entry into the defence and aero sectors through Goodluck Defence and Aerospace Limited is progressing ahead of schedule, with plans to commission the plant by March 2025.
₹ 3,537.73 CRORES
Consolidated Revenue
Operational Milestones and Strategic Initiatives
Goodluck India Limited has achieved remarkable operational performance in the past financial years, marking it as our best year to date. Our focus on enhancing asset utilisation has resulted in a significant top line growth of 15-20 %, achieved without any major capacity expansion. This was made possible through strategic investments and a successful Qualified Institutional Placement (QIP) that raised ₹ 200 Crores, attracting notable investors such as Bank of America, Morgan Stanley.
We are excited about our state-of-the-art hydraulic tube plant which will primarily support export markets and is expected to be a game changer for the company especially with the marketing agreements already in place for Europe, Canada and Mexico. Additionally, our entry into the defence and aero sectors through Goodluck Defence and Aerospace Limited is progressing ahead of schedule, with plans to commission the plant by March 2025.
The company is strategically positioned to capitalise on the government’s strong emphasis on electric vehicles (EVs) and transition towards sustainable transportation. As part of our commitment to this initiative, we are actively engaged in the production of bus body structures in collaboration with the leading companies such as Ashok Leyland, Tata Marcopolo and others. The Indian government’s intention to replace conventional vehicles with electric alternatives presents a significant opportunity for the company to enhance its operations in this sector. We anticipate substantial growth in value added segments particularly in electric buses, which aligns with our broader strategy to innovate and expand our product offerings.
Our commitment to value added products is evident, as we have experienced 39% Y-o-Y increase in this segment, compared to a modest 6% in regular products. In addition to our work in the bus body structure, we are also tapping into the solar market, supplying specialised transmission tubes and solar hardware across India. We expect these initiatives to contribute significantly to our growth trajectory, reinforcing our goal of becoming a billion-dollar company in the next three to four years.
Nurturing Excellence
At Goodluck India Limited, our strategic emphasis on Human Resource Management reflects our commitment to improving work effectiveness and aligning employee growth with company objectives. We prioritise diversity & inclusion, developing a supportive environment that values individuality, encourages creativity and promotes team work. By placing our people at the forefront, we are dedicated to holistic wellness, long term rewards and diverse career opportunities.
Our HR strategy encompasses talent acquisition, employee development, performance management, and overall employee wellbeing. We offer comprehensive training programs, career advancement opportunities, and rigorous performance evaluations to maintain a motivated and highperforming workforce committed to sustainable growth and success.
We are committed in maintaining a secure, safe, and healthy environment for our workforce, partners, and the communities we serve. Our world-class Occupational Health and Safety (OHS) management systems, aligned with ISO 45001:2018 standards, reflect our dedication to employee health and safety. We have established a comprehensive Safety Management System and governance structure to oversee safety processes effectively.
Sustainable Practices and Community Engagement
At Goodluck India Limited, we are deeply connected to sustainability and social responsibility. Our comprehensive environmental strategies focus on waste management, energy efficiency and natural resource conservation. We integrate world-class Occupational Health and Safety (OHS) management systems, and have implemented robust safety measures, including expanded fire safety systems.
In renewable energy, we invest in solar and green hydrogen projects, aiming to reduce our reliance on fossil fuels and align with global sustainability trends. Our carbon footprint reduction efforts include offsetting CO2 emissions and enhancing road safety with European-standard crash barriers. We also prioritize natural resource conservation through significant tree planting and efforts to reduce water consumption and energy use.
Our community engagement focuses on advancing education, healthcare, and welfare. Key initiatives include supporting local health facilities, funding educational infrastructure, and combating hunger and malnutrition. We also champion animal welfare by improving the health and safety of cows and support local infrastructure projects.
As we continue to enhance our CSR efforts, we aim to align with our business objectives and needs of the communities we serve. We believe that our initiatives will not only contribute to societal betterment but also strengthen our position as a responsible corporate citizen.
Good Governance and Ethical Conduct
Good governance is pivotal to our success across all areas, and our company has implemented top tier governance practices that benefit all the stakeholders. Governance reflects our commitment to transparency, integrity and accountability. We have established a comprehensive governance framework that facilitates effective oversight and strategic coherence, allowing us to navigate challenges and drive sustainable growth. The governance structure at our company emphasises transparent communication and conscientious resource management, fostering trust and engagement with our stakeholders. By prioritising these principles, we ensure that our decisions and actions align with our commitment to creating lasting value while maintaining unwavering standards of corporate ethics and responsibility.
I extend my gratitude to all our stakeholders and employees for their unwavering trust and support in our company.
Warm Regards,
M.C Garg
Chairman