Godfrey Phillips India Ltd.

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godfreyphillips.comBSE: 500163NSE: GODFRYPHLP

Market Cap₹ 30,822 Cr.

Current Price

High / Low₹ 3,947 / 1,832

Stock P/E22.5

Book Value₹ 408

Price to Book4.72

Dividend Yield2.53 %

ROCE33.7 %

ROE26.7 %

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 32.3% CAGR over last 5 years
Company is almost debt free
Company has a healthy return on capital (ROCE) of 31.5%
Company has a good return on equity (ROE) track record: 3 Years ROE 24.9%
Company has consistently been profitable over the last 5 years
Company has delivered good sales growth of 20.4% CAGR over last 5 years

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 208.4% year on year
Operating margins have contracted to 16.9% from 22.7%

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

Peer comparison

Fast Moving Consumer GoodsFMCGCigarettes/Tobacco

Part ofNIFTY MIDCAP 150 NIFTY MIDCAP 100 NIFTY 500 NIFTY LARGEMID250 NIFTY TOTAL MKT

S.No.	Name
1.	ITC	261.20	16.50	327277.91	5.55	4508.79	-15.62	29523.30	28.32	38.83	17.84
2.	GODFRYPHLP	1976.00	22.53	30822.00	2.53	1983.90	456.84	38195.60	2020.43	33.70	5.49
3.	VSTIND	208.55	57.13	3542.45	5.75	42.42	-24.43	861.71	109.08	28.18	5.76
4.	IWP	35.41	38.26	226.53	0.56	2.51	118.28	65.19	26.76	3.02	8.02
5.	NTCIND	132.85	9.64	192.88	0.00	6.12	7.99	26.63	3.21	11.14	24.79

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	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	38,196
	993	1,151	1,260	916	1,089	1,351	1,532	1,619	1,476	1,318	1,810	2,933	36,750
Operating Profit	240	216	213	164	261	267	356	262	326	306	368	547	1,446
OPM %	19.50%	15.83%	14.49%	15.17%	19.31%	16.52%	18.84%	13.91%	18.08%	18.82%	16.91%	15.71%	3.78%
	53	38	57	65	45	51	47	78	77	37	45	46	783
Interest	7	7	6	4	3	3	3	4	3	3	3	3	26
Depreciation	37	36	36	28	27	27	28	42	28	29	31	33	343
Profit before Tax	262	219	243	224	285	298	377	302	383	319	391	563	2,511
Tax %	15.67%	25.40%	24.75%	25.73%	17.99%	30.95%	25.12%	26.47%	23.93%	24.52%	24.80%	26.20%	20.99%
Net Profit	0	0	0	0	229	248	316	280	356	305	343	521	1,984
	48.94	38.86	40.85	41.20	54.94	16.53	20.41	18.88	68.53	19.56	22.01	33.39	12.72

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	2,403	2,326	2,497	2,877	2,525	2,688	3,562	4,018	5,611	6,391	11,101
	2,150	2,067	2,094	2,285	1,984	2,054	2,759	3,115	4,434	4,806	9,736
Operating Profit	253	258	403	592	541	633	804	903	1,177	1,585	1,365
OPM %	10.53%	11.11%	16.14%	20.57%	21.44%	23.57%	22.56%	22.47%	20.98%	24.79%	12.30%
	47	75	79	107	119	114	168	210	221	205	206
Interest	4	2	1	30	31	34	29	14	12	12	11
Depreciation	98	98	99	155	141	145	154	108	124	121	127
Profit before Tax	199	233	383	514	487	568	873	1,152	1,471	1,940	1,525
Tax %	31.28%	31.75%	32.05%	25.07%	22.75%	22.92%	20.88%	19.56%	21.63%	21.37%	24.63%
Net Profit	137	159	260	385	376	438	690	926	1,153	1,525	1,149
EPS	26.39	30.60	50.06	74.02	72.41	84.25	132.80	169.84	206.16	97.82	—
Dividend Payout %	30.31%	26.14%	19.97%	32.42%	33.14%	33.23%	33.13%	32.97%	46.08%	51.11%	—

COMPOUNDED SALES GROWTH

10 Years:: 11%
5 Years:: 20%
3 Years:: 22%

COMPOUNDED PROFIT GROWTH

10 Years:: 25%
5 Years:: 32%
3 Years:: 30%

STOCK PRICE CAGR

10 Years:: 15%
5 Years:: 43%
3 Years:: 41%
1 Year:: -45%

RETURN ON EQUITY

10 Years:: 18%
5 Years:: 22%
3 Years:: 25%
Last Year:: 27%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	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
Minority Interest	40	37	33	29	5	5	5	6	7	7
	1,650	1,783	2,028	2,177	2,572	2,917	3,538	4,217	5,231	6,164
	48	34	49	322	359	299	316	305	152	199
Trade Payables	157	171	290	254	233	253	365	396	500	532
	302	430	456	503	552	617	733	909	1,069	1,377
Total Liabilities	2,208	2,465	2,866	3,295	3,732	4,102	4,968	5,843	6,969	8,310
	695	641	686	1,006	1,025	947	897	859	692	773
Capital Work in Progress	13	18	14	17	26	37	22	10	23	168
	507	924	1,232	1,251	1,554	1,844	2,669	3,000	3,197	3,299
	652	585	642	688	743	829	928	1,442	1,997	2,264
	0	0	0	0	0	0	0	173	516	907
Cash & Bank	31	44	46	48	46	50	40	25	30	33
	309	252	247	286	338	395	412	335	514	866
Total Assets	2,208	2,465	2,866	3,295	3,732	4,102	4,968	5,843	6,969	8,310

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	302	588	491	499	408	618	925	290	107	518
Cash from Investing	-125	-405	-310	-72	-298	-234	-541	55	402	27
Cash from Financing	-125	-99	-43	-303	-16	-238	-206	-359	-491	-619
	-4	12	9	0	-4	6	-11	-13	18	-73

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	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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