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Goodluck India opens new Rs 2.1 billion hydraulic tubes plant
Industry News- Sep 17,24
The new plant will manufacture hydraulic tubes with a diameter of 219 mm and a thickness of 15 mm, which are expected to replace imports and meet high domestic and international demand due to their specialised quality.
Goodluck India Limited has officially inaugurated its new Rs 2.1 billion hydraulic tubes manufacturing facility in Bulandshahr, Sikandrabad. The plant, with an annual capacity of 50,000 metric tons, is set to produce specialised hydraulic tubes used in construction machinery, light commercial vehicles, and other industrial equipment.
MC Garg, Chairman & Managing Director, Goodluck India, announced that trial production will start immediately, with commercial production expected to begin in the first week of January 2025. The project is fully financed through internal resources.
The new plant will manufacture hydraulic tubes with a diameter of 219 mm and a thickness of 15 mm, which are expected to replace imports and meet high domestic and international demand due to their specialised quality. Garg highlighted that the project aligns with the company's goal of becoming a billion-dollar entity within the next three to four years.
For the fiscal year ending March 31, 2024, Goodluck India reported revenues of Rs 35.24 billion and a profit after tax of Rs 1.30 billion.
(Businessline)
MC Garg
Goodluck India
hydraulic tube
Bulandshahr
hydraulic tubes manufacturing
automotive
Sikandrabad
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