Up 20x in 5 yrs! Multibagger stock showing 65% crash: Why 1.4 lakh investors may be worried today?

Goodluck India share bonus issue: Mutlibagger stock Goodluck India Ltd is showing up to 67 per cent fall in some trading apps today as all these the shares turned ex-bonus, adjusting to the pre-announced corporate action. It had announced issuance of bonus shares for the eligible shareholders, indicating a sharp downside in their stock price.

"We wish to inform you that the bonus committee of the Goodluck India (resolution passed on August 17, 2026) has approved Friday, August 21, 2026, as the record date, for determining eligibility of the shareholders entitled for issuance and allotment of bonus equity shares of the Company," it said in an exchange filing.

The company had announced a bonus issue in 2:1 ratio, which means to issue two bonus equity shares of the company with a face value of Rs. 2 for every one existing equity shares of a face value of Rs 2 each, held by the shareholders, as on the record date, it added.

Shares of Goodluck India settled at Rs 1,438.05 on Thursday and opened at Rs 494.95 on Tuesday, post the adjustment of stock division. It is possible that trading apps of certain brokerages might be showing the unadjusted share price for yesterday and, thus, suggesting a 65-67 per cent-odd fall on the counter.

Post adjustment of stock split, shares of Goodluck India dropped more than 4.45 per cent to Rs 473 on Tuesday, with its total market capitalization below Rs 4,700 crore mark. The stock has tumbled nearly 15 per cent from its adjusted 52-week high at Rs 557.03, hit on July 17, 2026. However, the stock is still up over 55 per cent from its adjusted 52-week low at Rs 304.70 hit on March 23, 2026.

Ghaziabad-based Goodluck India is an engineering and steel processing conglomerate that manufactures and exports a wide range of heavy-duty industrial and infrastructure products, including steel pipes, precision tubes, forged components, power and telecom towers, and defense shells. The company has nearly 1.4 lakh investors.

To recall, shares of Goodluck delivered a bumper 2,000 per cent return in the last five years, while the stock has more than doubled investors' wealth in the last one and a half year. However, the short-term returns have been mixed as it has delivered a negative return in the last one month, while it has remained flat for the last three-month period.

Goodluck India reported a 78.13 per cent year-on-year (YoY) jump in its net profit at Rs 63.61 crore, while revenue increased 30.93 per cent YoY to Rs 1,287.44 crore in the June 2026 quarter. Its EBITDA rose 46.61 per cent YoY to Rs 113.96 crore, while margins improved to 8.85 per cent for the reported quarter. .

"We keep our estimates largely unchanged for FY27E as we believe Goodluck India is on track given the ramp-up of the hydraulic tubes and existing artillery shell facilities, said SBI Securities." However, we cut our FY28E consolidated revenue, EBITDA and PAT estimates by 8.8 per cent, 18.2 per cent  and 6.7 per cent, respectively, given the deferment of revenue from the Defence & Aerospace vertical," it added with a 'buy' and a target price of Rs 485.35 (adjusted).

Goodluck India is well-positioned to deliver healthy earnings growth over the coming years, driven by a higher share of value-added products in its core business and ramp up at its high-growth defence & aerospace segment, offering superior margin potential, said ICICI Direct With this, we maintain a 'buy' rating on the stock with a target price of Rs 533.35 (adjusted).