Share price of this engineering conglomerate moved up by 2.57 percent from its previous close of Rs. 1,099.65 and opened at Rs. 1,125, while its last traded price was Rs. 1,127.9.
On January 12, Goodluck India received board approval for the opening of the QIP (Qualified Institution Place) Issue. The floor price has been set at Rs. 989.40 per equity share, based on the pricing formula as prescribed under SEBI ICDR Regulations.
It has also been mentioned that the company may at its discretion offer a discount of not more than five percent on the floor price for the Issue.
Formerly known as Goodluck Steel Tubes Limited, it has a market cap of Rs. 3,197 crore and is currently trading at Rs. 1,124.65. It hit an all-time high of Rs. 1,168.75 on Friday, the day when it received the board’s approval for the opening of the QIP Issue.
Financially, the company has delivered good profit growth of 42.6 percent CAGR over the last 5 years and its revenue from operations grew 17.56 percent from Rs. 2,613 crores in FY21-22 to Rs. 3,072 crores in FY22-23. This revenue growth is accompanied by an increase in profits by 17.5 percent from Rs. 75.01 crores in FY21-22 to Rs. 87.8 crores in FY22-23.
The revenue from operations grew 13.7 percent on a year-on-year basis from Rs. 858 crores in the June quarter to Rs. 886 crores in the September quarter of the year 2023.
As of January 2024, FIIs hold 1.17 percent of the shares whereas DIIs hold 1.13 percent, aggregating to 2.3 percent of institutional holding. The promoters own 58.35 percent of Goodluck India which has decreased by 0.38 percent over the last quarter.
The company has spent 2.13 percent of its operating revenue towards interest expenses and 4.1 percent towards employee costs in the year ending 31st March 2023.
Established in the year 1986, Goodluck India Limited (GIL) is engaged in the business of manufacturing and selling sheets, pipes, automobile tubes, fabricated structures and other such engineering products.
GIL has over five manufacturing facilities with a total installed capacity of more than 3 lakh tonnes per annum and the company is listed on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
Written by Shivani Singh
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