Goodluck Green Energy Ltd
Garg-family promoted green hydrogen and solar venture from Ghaziabad, pre-revenue while its Kachchh facility is built out.
Market cap
₹632.1 Cr
4.21 Cr shares
P/E ratio
Loss making
Sector average 40
Book value
₹7.41
P/B 20.24
1-year return
-11.29%
52w ₹145 – ₹170
Currently 20% of the way through its 52-week range.
Indicative price history
1Y change
-11.00% ₹169 → ₹150
52-week band in this window: ₹147.58 – ₹171.94. Weekly indicative marks, not exchange-traded prices.
Key highlights
- Incorporated January 2024; paid-up capital ₹42.14 Cr, authorised ₹105 Cr, no debt.
- Green hydrogen facility under construction in Kachchh, Gujarat; solar infrastructure projects planned.
- Pre-revenue: FY25 income of ₹3.4 Cr was treasury income and the company posted a loss.
About Goodluck Green Energy
Goodluck Green Energy Limited was incorporated on 9 January 2024 in Ghaziabad, Uttar Pradesh, as a private company and converted to a public limited company later that year. It is promoted and led by Rishabh Garg and Rajat Garg of the Goodluck (Ghaziabad) family of engineering businesses, and is positioned as a developer of green hydrogen, solar infrastructure and other clean-energy projects.
The company is still in the project-development phase. Land has been identified and construction is under way on a green hydrogen facility in Kachchh, Gujarat, which management expected to be ready for trial production around the fourth quarter of FY26. Revenue from operations was nil in FY25 and FY26; total income of about ₹3.4 Cr in FY25 was treasury income on the capital raised, and the company reported a loss for the year.
The equity base is relatively large for a start-up: authorised capital is ₹105 Cr and paid-up capital about ₹42.14 Cr (4.21 Cr shares of ₹10), and the company carries no debt. The unlisted quote has hovered between ₹150 and ₹170 since dealers began quoting it in 2025; dealers trade it in lots of 500 shares.
Registry data are from ROC Kanpur snippets (Falcon Ebiz, IndiaFilings); financials from dealer summaries. As the company is pre-revenue, line items are reconstructed around reported totals; treat them as approximate.
Where the revenue comes from
- Green hydrogen (under development)60%
Kachchh, Gujarat facility slated for trial production in FY26
- Solar infrastructure & EPC30%
Solar projects and mounting-structure infrastructure
- Treasury income10%
Currently the only source of income
Products & services
Green hydrogen
Electrolyser-based green hydrogen production planned at Kachchh, Gujarat.
Solar infrastructure
Solar power projects and mounting-structure infrastructure.
What works
- • Debt-free balance sheet with about ₹42 Cr of paid-up capital and ₹105 Cr of authorised capital, giving room for further equity raises.
- • Promoter group has a track record in engineering and steel businesses in Ghaziabad and access to the group's fabrication capabilities for solar structures.
- • Green hydrogen and solar manufacturing enjoy central incentives (National Green Hydrogen Mission, PLI) that can subsidise the Kachchh project.
What to watch
- • No operating revenue yet; the company is a project bet whose value depends on commissioning the Kachchh facility on time and on budget.
- • Green hydrogen offtake economics in India remain unproven and capital-intensive; further dilution is likely to fund capacity.
- • Thin dealer market with a narrow ₹150–170 quote band; exits may be slow and the price is not anchored to earnings.