Goodluck India Ltd has launched a Rs 200 crore hydraulic tubes manufacturing unit in Sikandrabad, Bulandshahr. With an installed capacity of 50,000 MT, this new facility will serve sectors such as construction machinery, light commercial vehicles, and various industrial equipment.
The hydraulic tubes are intended to replace seamless tubes, aiming to reduce reliance on imports.
Chairman and Managing Director M.C. Garg emphasized the strategic importance of the plant, with trial production already underway and full-scale commercial production set for January 2025. He noted the significant domestic demand for these hydraulic tubes, a specialized market with minimal competition, which is expected to drive the company’s revenue growth.
The project has been fully funded through internal accruals and is projected to improve profit margins, given the premium nature of the product.
Goodluck India also plans to export approximately 40% of its production to markets in the US and Europe, where demand remains strong. Garg added that this project is a key step in the company’s ambition to reach a billion-dollar valuation within the next three to four years.