Goodluck India reported fiscal fourth quarter profit at Rs 37.22 crore, up 33.1 per cent in comparison to Rs 27.96 crore recorded during the corresponding quarter of previous financial year, on the back of robust demand. It posted revenue from operations at Rs 902.49 crore, up 18 per cent as against Rs 764.55 crore during the same period last year. The company EBITDA stood at Rs 66.3 crore, up 14.5 per cent on-year.
The company’s board had already declared two interim dividend aggregating to Rs 5 per equity share of Rs 2 each for the financial year 2023-24. Further, the company has declared a final dividend to the tune of Re 1 (50 per cent) per equity share of Rs 2 each for the FY 2023-24. So, the company has declared 300 per cent as total dividend for the FY 2023-24.
The company’s products cater to the automobile, aerospace, oil & gas, T&D, defence, solar and overall infrastructure space.
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For the full year ended March 31, 2024, the company’s net profit increased by around 50.22 per cent at Rs 130.54 crore as against Rs 86.90 crore same period last year. Revenue from operations for the full year period (2023-24), stood at Rs 3524.78 crore, up from Rs 3072.01 crore in 2022-23, reporting a growth of 14.74 per cent.
MC Garg, Chairman, Goodluck India, said, “In spite of adverse geo political conditions & tough market conditions, the company has succeeded in achieving the growth by reshuffling the product mix and the market mix. The demand growth has been robust overall and this has helped shore up our volume sales. We have also been witnessing a good demand from the value-added segment, which has contributed to higher margins. Our company recently supplied and fabricated steel bridges for the high-speed bullet train project and we expect a good demand for critical steel bridges in the country on the back of a recent government proposal to initiate feasibility studies for bullet train corridors in North, South and East India.”
Goodluck India is betting on good growth coming in the defence and aerospace sectors in India which will bring down the country’s dependence on imports in these sectors. The company has set up a subsidiary, Goodluck Defence and Aerospace Private Limited, to cater to the extensive needs of defence & aerospace industry. The progress of establishing new facility for defence & aerospace industry is as per schedule, it said.
Goodluck India also announced that the company has recently raised close to Rs 200 crore through the Qualified Institutional Placement (QIP) route to fund its working capital requirements and other general corporate purpose.
From: financialexpress
Financial News
