Goodluck India Limited, a leading engineering and manufacturing conglomerate, announced its financial results for the second quarter ended September 30, 2025 (Q2 FY26). The company reported steady growth across financial and operational metrics, underscoring its continued momentum and successful strategic expansion into high-value sectors such as defence and aerospace.
Goodluck India Limited reported a strong financial performance in Q2 FY26, with sales volume reaching 1,12,937 MT, marking a 9.5% year-on-year increase. This growth was primarily driven by sustained demand for high-value, engineered products and consistent traction in export markets. Despite softer steel prices impacting revenue, the company recorded a 1.7% rise in total income, reflecting its ability to maintain growth momentum in a challenging price environment.
Profitability also showed significant improvement, with EBITDA rising 30.1% year-on-year and margins expanding by 214 basis points, largely due to a growing contribution from premium, high-margin segments. Additionally, capacity utilisation remained strong at about 90% on an annualised basis, underscoring the company’s operational efficiency and steady market demand across its core business verticals.
Goodluck India’s subsidiary, Goodluck Defence & Aerospace Ltd, achieved a major breakthrough with the receipt of an industrial license under the Indian Arms Act, 1959, authorizing the production of medium-caliber artillery shells in multiple categories—105mm, 120mm, 125mm, 130mm, and 155mm (HE M107, ERFB, ERFB BB, ERFB BIT).
A dedicated manufacturing facility for artillery shells was inaugurated in October 2025, marking the start of commercial production with an initial capacity of 1,50,000 shells annually, expected to scale up to 4,00,000 shells within 12 months. The project represents an investment of approximately ₹5,000 million and positions Goodluck Defence as a key player in India’s growing defence manufacturing ecosystem. Active negotiations with domestic and global clients are already underway.
Additionally, Goodluck India fulfilled its investment commitment under the ‘UP Nivesh’ initiative, signing a Memorandum of Understanding (MoU) with the Government of Uttar Pradesh and delivering its pledged ₹5,000 million investment on schedule. In a significant move toward advancing India’s aerospace ambitions, Goodluck India has entered into a tripartite MoU with BrahMos Aerospace Thiruvananthapuram Ltd (BATL) and Axiscades Technologies Ltd for collaboration on the Advanced Medium Combat Aircraft (AMCA) programme.
The partnership will focus on systems integration, avionics, and advanced defence manufacturing. The consortium has submitted an Expression of Interest (EOI) to the Aeronautical Development Agency (ADA), aligning with Goodluck’s strategy to support India’s self-reliance and innovation in next-generation aerospace technologies.
Goodluck India operates six advanced manufacturing plants across Uttar Pradesh and Gujarat, with a total installed capacity of 500,000 MT, of which 57% is dedicated to high-value, margin-enhancing products. Its subsidiary, Goodluck Defence & Aerospace, adds a specialized defence manufacturing facility capable of producing up to 400,000 artillery shells per year. This network of facilities supports key sectors including automotive, solar, railways, infrastructure, and defence, forming a diversified and resilient manufacturing base.
Commenting on the results, Mahesh Chandra Garg, Chairman, Goodluck India Limited, stated “Our performance in Q2 FY26 reflects continued growth across all key parameters, backed by strong operational discipline and strategic execution. The progress made by Goodluck Defence & Aerospace strengthens our position in India’s manufacturing landscape and supports the nation’s vision of self-reliance in defence. FY26 is a pivotal year for us as we build future-ready capabilities that will drive accelerated growth in the coming years.”
Founded in 1986, Goodluck India Limited is a leading engineering solutions provider engaged in defence manufacturing, high-end forgings, precision tubing, heavy steel fabrication, and infrastructure projects. The company is led by Mahesh Chandra Garg, an IIT Roorkee alumnus, and supported by three generations of industry professionals, reflecting nearly four decades of engineering excellence.
Goodluck India caters to diverse sectors such as defence, automotive, solar, railways, oil & gas, and renewable energy, and is actively contributing to India’s first Bullet Train project. With a global footprint spanning over 100 countries and a customer base of more than 600 clients, the company employs over 4,500 professionals and holds ISO 9001:2008 certification. Continuing its focus on innovation, sustainability, and product diversification, Goodluck India remains committed to strengthening its leadership across strategic high-growth sectors while delivering long-term value for stakeholders.
