Goodluck India Ltd — Q4 FY26 earnings call
Summary generated by AI from the official transcript Goodluck India Ltd filed with BSE on 03 Jun 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Goodluck India reported Q4 FY26 consolidated revenue of around Rs 1,097 crore with EBITDA margins expanding above 10% and profit after tax up 34% year-on-year to over Rs 56 crore, while full-year FY26 consolidated revenue crossed Rs 4,100 crore. Management attributed the improved profitability to a growing contribution from value-added engineering products such as defense, hydraulic tubes, conduit pipes and solar structures. Executives also discussed the impact of the West Asia conflict on raw material sourcing, export logistics and working capital, and outlined capacity expansion plans in defense, steel and precision tubes.
1 statement from this call is not shown because its supporting quote could not be reproduced within our quoting limits. Nothing shown here is affected: every statement on this page carries its verified quote.
Numbers mentioned
Consolidated revenue: around INR1,097 crores (Q4 FY26)
p. 4
“Consolidated revenues for the quarter stood at around INR1,097 crores.”
Ram Aggarwal, page 4 of the filed PDF · View the filing
Profit after tax: more than INR56 crores (Q4 FY26)
p. 4
“Profit after tax for the quarter increased by 34% year-to-year to more than INR56 crores, demonstrating the improving earnings profile of the company.”
Ram Aggarwal, page 4 of the filed PDF · View the filing
Consolidated revenue: over INR4,100 crores (FY26)
p. 4
“For the full financial year FY26, company crossed consolidated revenues of over INR4,100 crores, while delivering strong growth in profitability.”
Ram Aggarwal, page 4 of the filed PDF · View the filing
Standalone sales: INR1,061.46 crores (Q4 FY26)
p. 5
“Regarding Q4 performance, standalone sales was at INR1,061.46 crores against INR1,104.62 crores during Q4 of previous year.”
Sanjay Bansal, page 5 of the filed PDF · View the filing
EBITDA: INR104.19 crores (Q4 FY26)
p. 5
“However, EBITDA for the quarter increased by 11.70%, stood at INR104.19 crores as against INR93.25 crores.”
Sanjay Bansal, page 5 of the filed PDF · View the filing
Profit after tax including OCI: INR48.53 crores (Q4 FY26)
p. 5
“The profit after tax, including other comprehensive income was at INR48.53 crores in Q4 of current year as compared to INR42.12 crores in Q4 of previous year.”
Sanjay Bansal, page 5 of the filed PDF · View the filing
Earnings per share: INR16.42 per share (Q4 FY26)
p. 5
“Earnings per share has been at INR16.42 per share in Q4 of current year as against INR13.26 per share during Q4 of previous fiscal.”
Sanjay Bansal, page 5 of the filed PDF · View the filing
Standalone sales: INR4,067.71 crores (FY26)
p. 5
“Sales increased by 3.4% at INR4,067.71 crores as compared to INR3,935.89 crores during the previous year 2025.”
Sanjay Bansal, page 5 of the filed PDF · View the filing
Standalone EBITDA: INR395.80 crores (FY26)
p. 6
“EBITDA was at INR395.80 crores as against INR326.79 crores, registered an increase of 21%.”
Sanjay Bansal, page 6 of the filed PDF · View the filing
Standalone PAT: INR173.44 crores (FY26)
p. 6
“PAT during FY '26 was at INR173.44 crores as against INR161.74 crores during previous year, registering a growth of about 7%.”
Sanjay Bansal, page 6 of the filed PDF · View the filing
Consolidated total income: INR4,100.25 crores (FY26)
p. 6
“Total income increased by 4.2% at INR4,100.25 crores as compared to INR3,935.89 crores during previous year.”
Sanjay Bansal, page 6 of the filed PDF · View the filing
Consolidated EBITDA: INR418.49 crores (FY26)
p. 6
“EBITDA was at INR418.49 crores as against INR332.16 crores, registering an increase of about 26%.”
Sanjay Bansal, page 6 of the filed PDF · View the filing
Consolidated PAT: INR182.58 crores (FY26)
p. 6
“PAT during current financial year '26 was at INR182.58 crores, registering a growth of 10.20%.”
Sanjay Bansal, page 6 of the filed PDF · View the filing
Consolidated EPS: INR56.07 per share (FY26)
p. 6
“Earnings per share stood at INR56.07 per share during FY '26 as against INR50.66 per share during previous year, registering a growth of 10.70% over previous year.”
Sanjay Bansal, page 6 of the filed PDF · View the filing
Defense vertical revenue: INR46 crores (FY26)
p. 6
“No, it is INR46 crores.”
Ram Aggarwal, page 6 of the filed PDF · View the filing
Capacity utilization: 94% (FY26)
p. 19
“So, for this year, capacity utilization has been 94%.”
Ram Aggarwal, page 19 of the filed PDF · View the filing
Net debt: INR1,000 crores (March 2026)
p. 20
“Net debt position, working capital loans is INR800 crores and term loan is INR200 crores. Total INR1,000 crores.”
Ram Aggarwal, page 20 of the filed PDF · View the filing
Cash and bank balance: INR50 crores (March 2026)
p. 21
“Cash and bank balance is about INR3 crores -- sorry, INR50 crores. Including deposits, it is INR50 crores.”
Ram Aggarwal, page 21 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Defense EBITDA margin — 30% to 35% · coming years
stated firmly by Ram Aggarwal
p. 6
“In the coming years, what the guidance we have given of 30%, 35%, it will prevail.”
Ram Aggarwal, page 6 of the filed PDF · View the filing
Defense execution capacity utilization — 75% to 80% · FY27
stated conditionally by Ram Aggarwal
p. 7
“We are expecting almost -- our capacity is 150,000, and we expect almost 75% to 80% execution this year.”
Ram Aggarwal, page 7 of the filed PDF · View the filing
Steel capacity — 6 lakh metric tons · 9 to 12 months
stated conditionally by Ram Aggarwal
p. 8
“The 2 items which I have just told you, it should take almost 9 to 12 months. By this financial year, it should be added up, these 2 items.”
Ram Aggarwal, page 8 of the filed PDF · View the filing
Revenue growth — 14%, 15% · FY27
stated conditionally by Ram Aggarwal
p. 9
“seeing the geopolitical conditions, we still hope that we can be at the lower or 14%, 15% growth we still hope that we will get.”
Ram Aggarwal, page 9 of the filed PDF · View the filing
Hydraulic tubes capacity utilization — 65% to 70% · this financial year
stated as an aspiration by Ram Aggarwal
p. 10
“And in this year, we hope that we will be able to do it to 65% to 70%, number one.”
Ram Aggarwal, page 10 of the filed PDF · View the filing
Defense capacity expansion capex — INR400 crores · this financial year or next financial year
stated conditionally by Ram Aggarwal
p. 11
“we have a plan to augment our capacity, which has a capital outlay of INR400 crores, but it will be sprawled maybe in this financial year or it may be carried forward to the next financial year also.”
Ram Aggarwal, page 11 of the filed PDF · View the filing
Long-term debt repayment — INR54 crores in FY26, INR51 crores in FY28 · FY26 and FY28
stated firmly by Ram Aggarwal
p. 12
“FY26, during current financial year, it will be INR54 crores. And again, financial year '28, it would be INR51 crores.”
Ram Aggarwal, page 12 of the filed PDF · View the filing
Conduit pipe EBITDA margin — around 15%
stated as an aspiration by Mahesh Garg
p. 14
“Conduit pipe is basically for export to USA. It's a highly profitable item with an EBITDA of around 15%.”
Mahesh Garg, page 14 of the filed PDF · View the filing
Front fork tube EBITDA margin — 15%, 16%
stated as an aspiration by Ram Aggarwal
p. 14
“And the front fork tube, it will be at the CDW tube and with the EBITDA margin of 15%, 16%, we will continue.”
Ram Aggarwal, page 14 of the filed PDF · View the filing
Defense revenue contribution — INR250 crores to INR300 crores · FY27
stated conditionally by Ram Aggarwal
p. 15
“We have already some questionnaires some people had asked, and they are expecting almost INR250 crores to INR300 crores. So, I agree to that view.”
Ram Aggarwal, page 15 of the filed PDF · View the filing
Volume growth in steel business — 13% to 15% · FY27
stated conditionally by Ram Aggarwal
p. 21
“in FY27, we hope that this West Asia crisis is solved and our volume growth, it will be 13% to 15% band in this coming financial year for the steel business, what you are asking, particularly.”
Ram Aggarwal, page 21 of the filed PDF · View the filing
Conduit GI pipe margin for calculation — 15% to 20%
stated conditionally by Ram Aggarwal
p. 20
“for the calculation purpose, you take it from 15% to 20% margin, which will be sustainable in future.”
Ram Aggarwal, page 20 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management explained the plant started production only in January-February, so depreciation and interest for the full 6 months hit a partial year of sales, distorting margins; normalized margins will be 30-35%.
Answered by Ram Aggarwal
Asked by Deepak Poddar: Why did defense EBITDA margins appear at 68-70% on INR46 crore revenue when guided margin is 25-30%?
p. 6
“So the EBITDA margins of 68% or 70%, these are not long sustaining. In the coming years, what the guidance we have given of 30%, 35%, it will prevail.”
Ram Aggarwal, page 6 of the filed PDF · View the filing
Management said the crisis disrupted supply chains and increased consumable prices with a pass-through lag, but they aim to offset impact through product and market reshuffling; exports may be impacted 5-10%.
Answered by Ram Aggarwal
Asked by Disha: What is the impact of the West Asia war on supply chain, commodity prices, and exports?
p. 8
“So it may impact some 5%, 10%, but we hope the matter will not be long for 12 months.”
Ram Aggarwal, page 8 of the filed PDF · View the filing
Management attributed the shortfall to falling HR coil prices and the recent West Asia crisis impacting dispatches, while maintaining a lower revised growth hope of 14-15%.
Answered by Ram Aggarwal
Asked by Shubham: Why did revenue growth come in at 4-5% versus the guided 15-20%?
p. 9
“Basically, this softness, this 4%, 5% against 15%, one main reason is the HR coil prices.”
Ram Aggarwal, page 9 of the filed PDF · View the filing
Management disputed the capex figure and said debt/working capital increased due to slower exports, inventory buildup and slower realizations from geopolitical turbulence.
Answered by Ram Aggarwal
Asked by Manisha Kesari: Why did actual capex and debt come out higher than guided for the year?
p. 11
“Debt has increased. Our working capital has increased, and there is a very obvious reason.”
Ram Aggarwal, page 11 of the filed PDF · View the filing
Management said the margin improvement is sustainable and not a one-off.
Answered by Mahesh Garg
Asked by Keshav: Is the gross margin improvement from 27-28% to 33% sustainable or transitory?
p. 13
“There is no worry. Gross margin will be sustained. It is a sustainable margin, what we have given.”
Mahesh Garg, page 13 of the filed PDF · View the filing
Management said current global demand of 8-9 million shells vastly outpaces upcoming supply of 2-3 million, and Goodluck's capacity expansion is timed to capture this persistent demand-supply gap.
Answered by Ram Aggarwal
Asked by Nikhil: How are artillery shell orders and demand-supply dynamics evolving given new industry capacity announcements?
p. 16
“Demand, there is no doubt of demand. Supply will always be constrained. In next 4, 5 years, my perception is, supply will be constrained. Demand will not be a problem.”
Ram Aggarwal, page 16 of the filed PDF · View the filing
Management acknowledged only small capex has been spent so far for machining purposes, with the major defense capex yet to start, and asked the analyst to follow up with the IR team for detailed reconciliation.
Answered by Ram Aggarwal
Asked by Shashank Kanodia: Why do capex and defense revenue figures not reconcile with prior guidance?
p. 19
“Very small capex what is going on. For the machining purpose, we have done some capex, because it is helping us in our current capacity utilization also, but the major capex is yet to come.”
Ram Aggarwal, page 19 of the filed PDF · View the filing
Management said inventory days have not yet normalized but expressed hope for improvement.
Answered by Ram Aggarwal
Asked by Lokesh Kashikar: Has inventory normalized after the delay in dispatches?
p. 22
“Not yet. It has not normalized so far, but we hope, with all the paper statements, that it will normalize and it will be reduced.”
Ram Aggarwal, page 22 of the filed PDF · View the filing
Risks flagged
West Asia geopolitical crisis disrupting supply chains and raw material/gas availability
p. 8
“Basically, the West Asia crisis, it's a definitely a breaker for every industry, because supply chain is disturbed drastically.”
Ram Aggarwal, page 8 of the filed PDF · View the filing
Rising consumable and input prices with delayed pass-through to customers
p. 8
“there is a price increase of all the consumables, and we are trying to pass it on to the customers, but it is always with a time lag.”
Ram Aggarwal, page 8 of the filed PDF · View the filing
Export delays due to longer consignment transit times
p. 8
“exports because of time duration taken in reaching the consignment, it is taking more time.”
Ram Aggarwal, page 8 of the filed PDF · View the filing
Steel price decline impacting revenue growth
p. 9
“Steel prices have got down from April '25 to April '26. There is a decrease in the steel prices, which has impacted it.”
Ram Aggarwal, page 9 of the filed PDF · View the filing
Logistics disruption affecting shell/defense material movement due to war
p. 13
“but definitely due to the West Asia crisis, movement logistics has become an issue.”
Ram Aggarwal, page 13 of the filed PDF · View the filing
Increased inventory and slower realizations due to reduced exports and domestic glut
p. 11
“So when the domestic, there is a glut. So for that glut, our inventory has increased, our realization has slowed down, and it is beyond our control.”
Ram Aggarwal, page 11 of the filed PDF · View the filing
Raw material (HRC) shortage persisting
p. 17
“It still remains.”
Mahesh Garg, page 17 of the filed PDF · View the filing
Uncertainty in shell order pricing due to volatile geopolitical supply-demand conditions
p. 10
“Actually, due to the current geopolitical factors, we want to avoid giving these prices, because it all depends on the supply and demand.”
Ram Aggarwal, page 10 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.