Dear Valued Stakeholders,

It is with great satisfaction that I present Goodluck India Limited’s Annual Report for FY 2024–25, highlighting a year of strong financial performance, strategic milestones, and future-ready initiatives.

Products & Segments

Goodluck India Limited has built a diverse and futureready product portfolio spanning Engineering Structures, Forgings, Precision Pipes & Auto Tubes, Cold Formed Profile, CR Coils & Tubes, and Defense & Aerospace. These offerings serve as the backbone for industries such as infrastructure, defense, aerospace, automobiles, oil & gas, and renewable energy, making the Company a trusted partner for mission-critical projects.

With a sharp focus on scale and value creation, the Company has expanded its total manufacturing capacity to 5,00,000 MTPA. Of this, 2,85,000 MTPA is dedicated to high-margin, value-added products, while 2,15,000 MTPA caters to high-volume products. This strategic mix allows Goodluck to balance consistent growth with profitability, while steadily increasing its share of value-added solutions.

From high-speed rail and metro infrastructure to advanced forgings for defense, precision tubes for global auto leaders, and specialized solutions for renewable energy, Goodluck’s products power some of the most demanding and transformative sectors.

With an increasing emphasis on value-added, high-margin offerings, and expanding opportunities in areas such as aerospace, EVs, and solar, the Company is strengthening its position as a trusted partner in mission-critical projects. This future-ready mix reflects Goodluck’s commitment to innovation, excellence, and sustainable growth.

Financial Performance

FY 2024–25 was a year of strong and broad-based growth for Goodluck India Limited, marked by record revenue and profitability. The Company achieved a total income of ₹3,965.8 crore, reflecting a growth of 12.2% over the previous year. This performance was underpinned by robust demand across business segments and a sustained focus on high-margin, value-added products.

The operating performance remained resilient, with EBITDA rising 16.3% to ₹340.8 crore, accompanied by a margin expansion of 35 basis points to 8.7%. Net Profit registered a significant growth of 23.9% year-on-year to ₹161.7 crore, underscoring operational efficiency and prudent financial management. Earnings per Share (EPS) improved to ₹49.71, compared to ₹45.92 in FY 2023–24

These results reflect the effectiveness of Goodluck India’s strategic direction, operational discipline, and growing presence in high-growth sectors such as railways, defense, aerospace, automobiles, and renewable energy. With a healthy balance sheet and a market capitalization of nearly ₹3,000 crore as of May 2025, the Company is wellpositioned to continue its journey of delivering sustainable growth and long-term value creation for stakeholders.

Robust Volume Growth & Operational Excellence

For FY 2024-25, the Company achieved sales volume exceeding 4,42,000 metric tons, representing a 15.3% year-on-year growth. This expansion was fueled by strong demand across sectors such as automobile, infrastructure, and increasingly from international markets. Strategic capacity increases were made: engineering structures now stand at 85,000 metric tons; precision pipes and automobile products at 1,70,000 metric tons; and Cold Formed Profile, CR sheets and pipes at approximately 2,15,000 metric tons. Average overall capacity utilization for the year was an impressive 89%, evidence of both demand momentum and operational efficiency

Projects across Sectors

The Company’s efforts were further validated by the successful, ahead-of-schedule completion of a large diameter pipe mill—one of a kind globally—which has received a strong worldwide response. In the defense and aerospace domain, a key area of focus, the subsidiary Goodluck Defence & Aerospace is progressing rapidly with its new plant for 155 mm gun shells. Designed to manufacture 1,50,000 shells annually, the project has been completed ahead of schedule, with trial commissioning pending final government approvals. The Company’s role in prestigious programs such as the BrahMos missile project further underscores its technical expertise and credibility in this critical sector. This plant, along with the newly commissioned precision tube facility, will be game-changers for the Company. They elevate the performance capability— demonstrated by a record 95% capacity utilization in Q4, despite various market headwinds.

The Company has made notable progress across highpotential sectors including automobile, infrastructure, oil & gas, solar, and defense. A key highlight is the execution of its first order of 22,000 tons for the Mumbai–Ahmedabad Bullet Train project, alongside the development of a second design for this initiative. In addition, the Company has pioneered the development of an innovative large-diameter pipe for construction equipment, a product unique on the global stage. With utilization levels reaching 70–80%, the Company is well-placed to explore future capacity expansions to meet rising demand and sustain its growth momentum.

Goodluck India Limited has continued to strengthen its position as a trusted partner in some of the nation’s most transformative projects. A marquee achievement has been its contribution to the Mumbai–Ahmedabad High-Speed Rail Project (Bullet Train), where the Company successfully executed critical steel structures that were approved ahead of schedule. Building on this milestone, Goodluck India has also secured additional orders for the second Bullet Train project, reaffirming its engineering leadership in India’s high-speed rail network.

Beyond high-speed rail, the Company remains deeply engaged in advancing India’s urban infrastructure. It has contributed significantly to the Chennai Metro Rail elevated viaduct, the Rapid Rail Transit corridor, and iconic bridge projects such as the Bowstring Bridge at Prayagraj, completed in a record 70 days to facilitate traffic during the Maha Kumbh Mela. The Company also supplied major structures for the Gangapath Project in Patna, the Mokama Double Track Railway Bridge, and the Ranchi Cable-Stayed Bridge-the longest such bridge over a railway line in the country. In the industrial segment, Goodluck delivered over 10,000 MT of fabricated structures for ArcelorMittal Nippon Steel’s Hazira expansion project.

The Company is also playing a growing role in India’s clean energy transition. With its expertise in advanced fabrication, Goodluck India has emerged as a key supplier of specialized transmission tubes and solar hardware across India. These solutions are supporting the rapid expansion of solar parks and renewable energy projects, positioning the Company as a vital contributor to the country’s sustainability agenda.

People & Learning

At Goodluck India Limited, people are seen as the true catalysts of progress. The Company continues to foster a culture of inclusion, collaboration, and innovation, ensuring that individual growth is closely aligned with organizational goals.

A defining milestone this year has been the launch of the Goodluck Learning Centre, a dedicated hub for continuous learning and capability building. Conceived as a center of excellence, it is designed to bridge skill gaps, elevate productivity, and cultivate innovation. The platform equips employees with advanced technical and managerial competencies, while preparing them to embrace emerging technologies such as artificial intelligence and data analytics. With structured training modules, leadership development programs, and data-driven evaluation dashboards, the Centre is shaping future-ready leaders who will carry the organization forward.

Alongside this, Goodluck India strengthens its focus on talent development, performance management, and employee engagement, supported by world-class Occupational Health and Safety (OHS) systems aligned to ISO 45001:2018 standards. By investing in people, the Company is nurturing not only high-performing teams but also leaders who will drive long-term, sustainable growth.

Sustainability & Governance

Goodluck India Limited places sustainability and governance at the heart of its strategy, ensuring that business growth is closely aligned with environmental responsibility and ethical practices. The Company continues to invest in renewable energy initiatives, including solar and green hydrogen, to reduce its dependence on fossil fuels and align with global sustainability priorities. Carbon footprint reduction is a key area of focus, supported by CO2 emission offsetting measures and the adoption of European-standard crash barriers to improve road safety.

In addition, the Company actively pursues natural resource conservation through large-scale tree plantation program, as well as continuous efforts to reduce water consumption and energy usage across operations. These measures reflect a long-term commitment to building a sustainable and greener future.

On the social front, Goodluck India has embedded Corporate Social Responsibility (CSR) as an integral part of its growth journey. Its initiatives span animal welfare, eradication of hunger and poverty, promoting healthcare, and supporting education. These efforts aim to uplift communities, improve quality of life, and ensure inclusive growth in the regions where the Company operates.

Governance remains the backbone of this approach. Anchored in the principles of transparency, integrity, and accountability, Goodluck India has built a robust governance framework that ensures responsible decisionmaking, effective oversight, and alignment with stakeholder expectations. By fostering ethical conduct and strategic coherence, the Company continues to strengthen its reputation as a trusted organization in both domestic and international markets.

Key Updates & Outlook

During the year, Goodluck India Limited achieved significant milestones that further strengthened its growth trajectory. The commissioning of the Hydraulic Tubes Plant at Bulandshahr in January 2025 marked a pivotal step forward. As an import-substitution initiative, the facility helps curb India’s reliance on seamless tube imports and enhances the Company’s margin profile. The plant has already begun contributing meaningfully from Q1 FY26, positioning Goodluck as a competitive and reliable player in this specialized domain.

In parallel, the Company reinforced its commitment to sustainability with the augmentation of solar support structure capacity, a move that strengthens its role as a partner in India’s clean energy transition. This investment reflects Goodluck’s proactive approach to enabling largescale solar adoption across the country, aligning both with national priorities and global sustainability goals.

Looking ahead, Goodluck India remains focused on leveraging its expanded capacities, specialized capabilities, and strategic investments to capture opportunities in high-growth sectors. With the ramp-up of new facilities and a sharper focus on value-added solutions, the Company is confident of achieving double-digit revenue growth and margin expansion in FY 2025-26, while continuing its journey toward becoming a billion-dollar enterprise.

I extend my heartfelt gratitude to our employees, customers, investors, and partners for their continued trust, as we accelerate into the next phase of growth with renewed determination and clarity of purpose.