Goodluck India Limited, a prominent player in the Indian manufacturing sector, has strengthened its board with the appointment of Mr. Iswarchandra Dayanidhi Agasti as an Independent Director. The decision was approved by shareholders at the company's 39th Annual General Meeting (AGM) held on September 25, 2025.

Key Details of the Appointment

Mr. Agasti's tenure as an Independent Director will commence on October 1, 2025, for a period of five years, concluding on September 30, 2030. This appointment is not subject to retirement by rotation, ensuring continuity in his role.

Extensive Banking Experience

Mr. Agasti brings a wealth of experience to Goodluck India's board, having served as a Principal Officer at IDBI Bank. His illustrious career in banking spans 35 years, during which he has gained expertise in various crucial areas:

• Branch Banking
• Retail Banking
• Corporate Banking
• Operations
• Audit
• Administration

Leadership and Expertise

Described as a strong leader and able administrator, Mr. Agasti is known for his business acumen, quick decision-making skills, and operational expertise. His experience in leading large teams and handling diverse portfolios is expected to be a valuable asset to Goodluck India Limited.

Previous Board Experience

Prior to this appointment, Mr. Agasti served as a director at Haldia Petrochemicals Limited, where he was nominated by IDBI. This previous board experience is likely to enhance his contribution to Goodluck India's corporate governance.

Shareholder Approval and Compliance

The appointment of Mr. Agasti received strong support from Goodluck India's shareholders. The special resolution for his appointment was passed with an overwhelming majority, securing 19,459,846 votes in favor, representing 99.998% of the total votes cast.

Corporate Governance Implications

Mr. Agasti's appointment aligns with Goodluck India's commitment to maintaining a strong and diverse board. As an Independent Director, he is expected to provide objective oversight and contribute to the company's strategic direction.

The company has confirmed that Mr. Agasti is not related to any existing directors of Goodluck India Limited, further emphasizing the independent nature of his appointment.

Goodluck India Limited's decision to bring Mr. Iswarchandra Dayanidhi Agasti on board reflects the company's focus on enhancing its leadership team with experienced professionals. His extensive banking background and previous directorship experience are expected to provide valuable insights as the company navigates future challenges and opportunities in the manufacturing sector.

Goodluck India Limited , a prominent engineering solutions provider, has clinched a significant order worth Rs 48.87 crore from Apraava Energy Private Limited for the supply of solar support structures. This latest contract underscores the company's growing footprint in India's burgeoning renewable energy sector and its commitment to the nation's Green India Mission.

Contract Details and Execution

The domestic contract, awarded by Apraava Energy, a key player in the solar EPC (Engineering, Procurement, and Construction) sector, comes with a six-month completion timeline. The payment terms include a partial advance, with the balance due upon material supply. This order not only bolsters Goodluck India's order book but also aligns with the government's ambitious target of generating 1,800 GW through renewable energy sources by 2047.

Strong Market Position

Goodluck India maintains a robust order book of approximately Rs 400.00 crore in the solar support structure segment alone. The company's Chairman, Mahesh Chandra Garg, expressed confidence in the firm's role in achieving national interests and targets through the Green India Mission and the Gati Shakti Programme.

Operational Capacity and Global Reach

With six state-of-the-art manufacturing plants strategically located across Uttar Pradesh and Gujarat, Goodluck India boasts a total production capacity of 5,00,000 MTPA. Notably, 2,85,000 MTPA of this capacity is dedicated to high-margin value-added products. The company's global footprint is substantial, serving over 600 customers worldwide and exporting to more than 100 countries.

Financial Outlook and Growth Strategy

Chairman Garg outlined the company's ambitious growth plans, stating, "We aim to achieve consolidated revenue of USD 1 billion over the next 3-5 years, driven by growth in our core business as well as our defence and aerospace segments." The company maintains its guidance of 15-20% revenue and profit growth on a consolidated basis, focusing on increasing the share of value-added products and expanding its defence subsidiary.

Diversified Portfolio

Goodluck India's involvement extends beyond solar infrastructure. The company participates in various sectors crucial to India's self-reliance (Atmanirbhar Bharat) initiative, including:

• Defence
• Automobile tubes
• Railways
• Steel structures
• Bridges
• Infrastructure
• Pipe manufacturing
• Forgings

Notably, the company is also a key supplier of heavy steel bridges for the prestigious Mumbai-Ahmedabad High-Speed Rail Corridor (Bullet Train) project.

Conclusion

As Goodluck India Limited continues to secure significant contracts in the renewable energy sector, it reinforces its position as a major player in India's transition to green energy. With a diverse product portfolio, strong manufacturing capabilities, and a clear growth strategy, the company is well-positioned to capitalize on the country's push towards sustainable development and infrastructure expansion.

Disclaimer: This article is based on the latest available information and does not constitute financial advice. Investors should conduct their own research before making any investment decisions.