Goodluck India Strategic Expansion in Bulandshahr
Goodluck India Ltd has announced the opening of a new Rs 200 crore manufacturing facility dedicated to hydraulic tubes in Bulandshahr, Sikandrabad. The plant, designed with a production capacity of 50,000 MT, is set to serve key industries including construction machinery, light commercial vehicles, and various industrial equipment sectors.
Innovative Product Development
The new facility will focus on the production of hydraulic tubes that are set to replace seamless tubes, which have traditionally been imported. This strategic move aims to cut down on import reliance and strengthen domestic manufacturing capabilities. Chairman & Managing Director M C Garg underscored the significance of this development, noting that trial production has already commenced, with plans to ramp up to full-scale commercial operations by January 2025. Garg emphasized the robust demand for these domestically produced tubes in a market with few competitors, which is expected to significantly enhance the company’s revenue streams.
Focusing on Global Markets and Profit Margins
Fully funded through internal accruals, this project is not only a testament to Goodluck India’s robust financial health but also sets the stage for improved profit margins due to the premium nature of the product. The company is also setting its sights on international markets, planning to export about 40% of its production to the United States and Europe, where the demand for hydraulic tubes is substantial. This export strategy is part of Goodluck India’s broader objective to reach a billion-dollar valuation in the next three to four years, aligning with its long-term growth and expansion plans.
