Godfrey Phillips India Ltd.

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godfreyphillips.comBSE: 500163NSE: GODFRYPHLP

Market Cap₹ 30,073 Cr.

Current Price

High / Low₹ 3,947 / 1,832

Stock P/E22.8

Book Value₹ 354

Price to Book5.47

Dividend Yield2.59 %

ROCE39.1 %

ROE30.9 %

Face Value₹ 2

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Cigaratte and Tobacco Products: 98.8% • Tea & Other Retail Products: 1.2%

AI Sector View

AI GENERATED

Fast Moving Consumer Goods

Hold

Rural demand proxies are mixed. Tractor sales rose 18.0% YoY (2026-07) and 2-wheelers were up 23.0% YoY (2026-06), but rural employment slowed to 1.0% YoY (2026-07), fertiliser sales were 0.0% YoY (2026-05), and food inflation of 5.52% (Jul/26) can pressure household budgets. FPI outflows remain heavy at INR -8081 crore over 3 months to 2026-08-31, limiting upside.

Confidence

62%

View full sector analysis →

PROS

Company has delivered good profit growth of 33.4% CAGR over last 5 years
Company is almost debt free
Company has a healthy return on capital (ROCE) of 35.5%
Company has a good return on equity (ROE) track record: 3 Years ROE 28.2%
Company has delivered good sales growth of 20.7% CAGR over last 5 years
Company has been maintaining a healthy dividend payout of 51.8%

CONS

Receivables are growing faster than sales - a possible quality concern
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.25x)
Total debt has risen sharply - up 218.4% year on year
Operating margins have contracted to 16.9% from 22.6%
Stock is trading at 5.5x its book value

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Fast Moving Consumer GoodsFMCGCigarettes/Tobacco

Part ofNIFTYLARGEMIDCAP250 NIFTYMIDCAP150 NIFTY MIDCAP 100 NIFTY MIDCAP 150 NIFTY TOTAL MKT

S.No.	Name
1.	ITC	260.25	16.44	326087.58	5.57	4508.79	-15.62	29523.30	28.32	38.83	17.84
2.	GODFRYPHLP	1928.00	21.98	30073.28	2.59	1983.90	456.84	38195.60	2020.43	33.70	5.49
3.	VSTIND	204.05	55.90	3466.02	5.88	42.42	-24.43	861.71	109.08	28.18	5.76
4.	IWP	33.86	36.58	216.61	0.59	2.51	118.28	65.19	26.76	3.02	8.02
5.	NTCIND	134.70	9.77	195.57	0.00	6.12	7.99	26.63	3.21	11.14	24.79

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	1,233	1,367	1,473	1,080	1,350	1,618	1,887	1,880	1,801	1,624	2,178	3,479	38,147
	993	1,153	1,263	908	1,094	1,354	1,534	1,617	1,479	1,323	1,814	2,919	36,760
Operating Profit	240	215	210	172	255	264	354	263	322	301	364	561	1,387
OPM %	19.45%	15.71%	14.27%	15.94%	18.92%	16.31%	18.75%	14.00%	17.90%	18.51%	16.73%	16.11%	3.64%
	128	38	126	96	99	103	97	114	157	103	108	97	904
Interest	7	7	6	4	3	3	3	4	3	3	3	3	26
Depreciation	36	36	35	27	26	26	27	41	27	28	30	32	332
Profit before Tax	334	219	304	243	329	346	428	339	455	382	449	634	2,291
Tax %	12.14%	25.27%	19.32%	22.43%	15.05%	26.07%	22.08%	24.79%	19.81%	20.24%	21.30%	23.73%	22.58%
Net Profit	294	163	246	188	279	255	334	255	365	304	354	484	1,774
	56.45	31.42	47.23	34.32	53.74	16.38	21.40	16.35	70.20	19.52	22.67	31.02	11.37

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	2,386	2,312	2,477	2,853	2,490	2,674	3,560	3,988	5,602	6,389	11,096
	2,138	2,054	2,097	2,261	1,973	2,047	2,759	3,112	4,442	4,805	9,731
Operating Profit	248	258	380	592	516	627	802	876	1,160	1,585	1,364
OPM %	10.40%	11.15%	15.36%	20.75%	20.74%	23.45%	22.51%	21.96%	20.71%	24.80%	12.30%
	47	74	79	106	118	110	168	386	414	464	398
Interest	3	2	1	30	31	34	29	13	12	12	11
Depreciation	94	96	96	152	138	142	151	105	120	117	123
Profit before Tax	198	234	363	516	465	562	790	1,143	1,442	1,920	1,694
Tax %	31.06%	31.38%	33.55%	24.81%	23.23%	23.08%	22.95%	19.24%	22.07%	21.54%	22.15%
Net Profit	136	161	241	388	357	432	608	923	1,124	1,507	1,319
EPS	26.22	30.92	46.35	74.60	68.65	83.08	117.01	177.56	216.11	96.59	—
Dividend Payout %	30.51%	25.87%	21.58%	32.17%	34.96%	33.70%	37.60%	31.54%	43.96%	51.77%	—

COMPOUNDED SALES GROWTH

10 Years:: 11%
5 Years:: 21%
3 Years:: 22%

COMPOUNDED PROFIT GROWTH

10 Years:: 24%
5 Years:: 33%
3 Years:: 35%

STOCK PRICE CAGR

10 Years:: 15%
5 Years:: 43%
3 Years:: 41%
1 Year:: -44%

RETURN ON EQUITY

10 Years:: 19%
5 Years:: 24%
3 Years:: 28%
Last Year:: 31%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	10	10	10	10	10	10	10	10	10	31
	1,581	1,697	1,886	2,050	2,406	2,713	3,178	3,826	4,395	5,315
	47	33	48	321	358	298	315	303	151	197
Trade Payables	163	174	291	251	239	259	374	404	510	545
	276	402	409	465	505	565	661	801	948	1,256
Total Liabilities	2,078	2,316	2,644	3,097	3,518	3,846	4,538	5,346	6,015	7,345
	667	615	656	974	991	914	865	821	654	736
Capital Work in Progress	13	18	14	16	26	36	21	10	21	167
	500	895	1,143	1,190	1,476	1,719	2,364	2,582	2,389	2,477
	577	511	569	614	671	756	856	1,376	1,932	2,188
	0	0	0	0	0	0	0	173	516	907
Cash & Bank	27	37	28	37	26	36	32	22	17	15
	293	240	234	267	329	385	400	363	486	853
Total Assets	2,078	2,316	2,644	3,097	3,518	3,846	4,538	5,346	6,015	7,345

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	305	585	479	499	399	621	928	270	115	512
Cash from Investing	-131	-409	-312	-70	-318	-232	-536	60	403	42
Cash from Financing	-120	-96	-39	-299	7	-238	-206	-342	-509	-619
	-3	9	0	7	-11	12	-3	-12	8	-65

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
72.58	72.58	72.58	72.58	72.58	72.58	72.58	72.58	72.58
10.83	10.80	10.63	9.72	9.32	7.94	8.15	7.91	7.80
1.90	1.97	1.99	3.29	3.85	4.12	4.21	3.28	3.66
0.05	0.05	0.05	0.05	0.05	0.02	0.02	0.02	0.02
14.64	14.61	14.76	14.36	14.20	15.34	15.03	16.20	15.94

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-08

Copy of Newspaper Publication

2026-09-08 - Godfrey Phillips India Limited has informed the Exchange about Newspaper publication regarding special window for transfer and dematerialisation (demat) of physical shares.

2026-08-25

Shareholders meeting

2026-08-25 - Godfrey Phillips India Limited has informed the Exchange about Shareholders meeting

2026-08-24

Shareholders meeting

2026-08-24 - Godfrey Phillips India Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 24, 2026

2026-08-22

Copy of Newspaper Publication

2026-08-22 - Godfrey Phillips India Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-07

Copy of Newspaper Publication

2026-08-07 - Godfrey Phillips India Limited has informed the Exchange about Newspaper Publication regarding Loss of Share Certificates.

2026-08-01

Copy of Newspaper Publication

2026-08-01 - Intimation under Regulation 30 regarding Newspaper publication of Notice of 89th Annual General Meeting

2026-07-31

General Updates

2026-07-31 - Godfrey Phillips India Limited has informed the Exchange about General Updates

2026-07-31

General Updates

2026-07-31 - Godfrey Phillips India Limited has informed the Exchange submission of Business Responsibility and Sustainability Report.

2026-07-31

Shareholders meeting

2026-07-31 - Godfrey Phillips India Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on August 24, 2026

News

Recent coverage and analyst commentary for GODFRYPHLP

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