Godfrey Phillips India Ltd logo

Godfrey Phillips India Ltd

GODFRYPHLP NSE

Gndia is one of the leading FMCG Companies in India - flagship company distribute the renowned Marlboro brand in India. [1]

AI Verdict: HOLD Confidence: 6%

Godfrey Phillips India is a debt-free, high-ROE compounder with 37% profit CAGR over 5 years, but the stock trades at a PE of 23.2x after a -15% correction in the last year. Deteriorating working capital (147 days vs 97 days earlier) and absence of analyst coverage warrant caution despite strong fundamentals.

Key Fundamentals

SmallcapCigarettes & TobaccoConsumer Goods
Market Cap
₹35,509 Cr
Volatility
Moderate
P/E Ratio
22.97
EBITDA
₹1,546 Cr
Return on Equity
20.86%
Debt to Equity
0.06
Book Value
₹398.28
EPS
₹172.61
52W High
₹3,947
52W Low
₹1,832.1

Technical Indicators

Key Insights

Strengths

3
  • Company is almost debt free.
  • Company has delivered good profit growth of 37.9% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 43.4%

Weaknesses

2
  • Debtor days have increased from 33.7 to 51.8 days.
  • Working capital days have increased from 97.2 days to 147 days

Growth Rate

Revenue Growth
8.93% ↗
Net Income Growth
33.80% ↘
Cash Flow Change
-63.05% ↘
ROE
0.41% ↘
ROCE
6.24% ↘
EBITDA Margin (Avg.)
-5.72% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 3d ago
HOLD
Risk medium

Godfrey Phillips India is a debt-free, high-ROE compounder with 37% profit CAGR over 5 years, but the stock trades at a PE of 23.2x after a -15% correction in the last year. Deteriorating working capital (147 days vs 97 days earlier) and absence of analyst coverage warrant caution despite strong fundamentals.

Bull Case 8
  • Company is virtually debt-free, providing significant financial flexibility and resilience during economic downturns
  • Exceptional profit growth at 37.9% CAGR over 5 years, well ahead of most FMCG peers
  • Last year ROE of 27% is best-in-class, with a consistent 5-year average of 21%, indicating efficient capital allocation
  • Healthy dividend payout of 43.4% with a current yield of 0.75%, signaling shareholder-friendly management
  • TTM profit growth of 62% indicates strong recent earnings momentum and possible operating leverage kicking in
  • 10-year stock CAGR of 23% demonstrates sustained long-term wealth creation for shareholders
  • Compounded sales growth of 22% over 3 years shows the core business is scaling well, not just margin expansion
  • Market cap of Rs 35,057 crore provides reasonable liquidity while still offering mid-cap growth characteristics
Bear Case 8
  • Stock has declined 15% in the last 1 year, indicating near-term momentum is negative and sentiment has weakened
  • Working capital days have deteriorated sharply from 97.2 to 147 days, locking up significantly more cash in operations
  • Debtor days increased from 33.7 to 51.8 days, a 54% jump suggesting weaker bargaining power or channel stress
  • Zero analyst coverage (0 buy, 0 hold, 0 sell ratings) means limited institutional scrutiny and potential governance blind spots
  • PE of 23.2x is not cheap for a tobacco-dependent FMCG company facing long-term regulatory and ESG headwinds
  • Price-to-book of 5.7x leaves limited margin of safety if earnings growth decelerates from current 62% TTM levels
  • 52-week high and low data unavailable, making it difficult to assess technical support and resistance levels
  • Dividend yield of only 0.75% is below fixed deposit rates, offering limited downside protection in a correction

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 14h ago
Positives 1
  • Nine-year manufacturing pact signed May 27

    Godfrey Phillips India signed a nine-year contract manufacturing agreement with Polisetty to boost production capacity and ensure product availability.

Neutral 1
  • Longwell pledges 2.4L shares Jun 13

    Longwell Investments pledged 2,40,000 shares in Godfrey Phillips to Infina Finance on Jan 23, 2026.

TL;DR: Godfrey Phillips is taking steps to strengthen its manufacturing capacity through a long-term nine-year agreement with Polisetty, signaling confidence in sustained demand. The share pledge by promoter-linked entity Longwell is a routine financing activity with no immediate negative signal. No material headwinds are visible in recent news flow, and the operational outlook appears stable to positive.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
796
1,046
1,158
1,250
875
1,088
1,360
1,589
1,573
1,486
1,289
1,829
1,787
Expenses
644
794
934
1,022
685
819
1,083
1,228
1,304
1,149
975
1,449
1,235
Operating Profit
152
253
224
228
191
270
277
361
269
338
314
380
553
OPM %
19%
24%
19%
18%
22%
25%
20%
23%
17%
23%
24%
21%
31%
Other Income
44
53
38
87
114
40
94
80
136
141
101
94
152
Interest
9
7
7
6
4
3
3
3
4
3
3
3
3
Depreciation
37
37
36
36
28
27
27
28
42
28
29
31
33
PBT
149
262
219
272
273
280
341
411
359
448
383
440
669
Tax %
26%
16%
25%
22%
21%
18%
27%
23%
22%
20%
20%
22%
22%
Net Profit
147
254
202
212
215
229
248
316
280
356
305
343
521
EPS in Rs
9.43
16.31
12.95
13.61
13.73
14.65
15.92
20.25
17.9
22.84
19.56
22.01
33.43
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales
2,586
2,331
2,403
2,326
2,497
2,877
2,525
2,688
3,562
4,018
5,611
6,391
Expenses
2,219
2,006
2,149
2,065
2,094
2,284
1,984
2,054
2,759
3,115
4,434
4,806
Operating Profit
367
324
254
260
403
592
541
633
804
903
1,177
1,585
OPM %
14%
14%
11%
11%
16%
21%
21%
24%
23%
22%
21%
25%
Other Income
32
37
47
73
79
107
119
114
252
328
349
489
Interest
19
10
4
2
1
30
31
34
29
14
12
12
Depreciation
108
107
98
98
99
155
141
145
154
108
124
121
PBT
271
244
199
233
383
514
487
568
873
1,109
1,390
1,941
Tax %
33%
30%
31%
32%
32%
25%
23%
23%
21%
20%
23%
21%
Net Profit
183
170
137
159
260
385
376
438
690
884
1,072
1,526
EPS in Rs
11.75
10.88
8.8
10.2
16.69
24.67
24.14
28.08
44.26
56.61
68.72
97.84
Div. Payout %
23%
25%
30%
26%
16%
32%
33%
33%
33%
33%
46%
51%
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
10
10
10
10
10
10
10
10
10
10
10
31
Reserves
1,302
1,566
1,650
1,783
2,028
2,177
2,572
2,917
3,538
4,222
5,235
6,181
Borrowings
277
132
73
28
42
357
396
337
355
345
179
234
Other Liabilities
484
452
474
644
785
751
754
837
1,065
1,266
1,544
1,864
Total Liabilities
2,073
2,159
2,208
2,465
2,866
3,295
3,732
4,102
4,968
5,843
6,969
8,310
Fixed Assets
675
695
700
650
694
1,015
1,034
983
932
893
732
812
CWIP
65
49
13
18
14
17
26
42
22
10
23
168
Investments
273
410
507
924
1,232
1,251
1,554
1,844
2,669
3,000
3,197
3,299
Other Assets
1,060
1,006
987
872
925
1,012
1,118
1,234
1,346
1,940
3,017
4,031
Total Assets
2,073
2,159
2,208
2,465
2,866
3,295
3,732
4,102
4,968
5,843
6,969
8,310
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
63
319
245
516
362
375
310
479
736
290
107
518
Investing
-32
-119
-125
-405
-310
-72
-298
-234
-541
55
402
27
Financing
-31
-197
-125
-99
-43
-303
-16
-238
-206
-359
-491
-619
Net Cash Flow
1
3
-4
12
9
0
-4
6
-11
-13
18
-73
Free Cash Flow
-45
188
177
457
233
254
180
405
736
192
-53
215
CFO/OP
43
122
119
226
122
84
75
98
115
54
32
57
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
18
17
27
13
10
9
18
21
15
16
34
52
Inventory Days
248
257
187
179
218
199
222
247
190
242
224
233
Days Payable
49
42
45
52
99
74
70
75
75
67
56
55
Cash Conversion Cycle
217
231
169
140
130
134
170
192
131
191
202
230
Working Capital Days
39
74
70
30
9
21
33
42
21
56
89
147
ROCE %
18%
14%
12%
10%
16%
20%
15%
17%
22%
23%
26%
33%

Shareholding Pattern

As of Mar 2026
Promoters 72.58%
Public 13.33%
FIIs 7.91%
DIIs 3.29%
Others 2.87%
Government 0.02%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters
72.78%
72.83%
72.83%
72.83%
72.83%
72.83%
72.83%
72.58%
72.58%
72.58%
72.58%
72.58%
72.58%
72.58%
72.58%
72.58%
72.58%
72.58%
72.58%
72.58%
72.58%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
10.13%
10.77%
10.83%
10.80%
10.63%
9.73%
9.32%
7.94%
8.15%
7.91%
DIIs
1.71%
1.66%
1.66%
1.64%
1.62%
1.60%
1.62%
1.62%
1.63%
1.49%
1.53%
1.56%
1.53%
1.90%
1.97%
1.98%
3.28%
3.85%
4.13%
4.22%
3.29%
Government
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.02%
0.02%
0.02%
Public
12.33%
12.49%
12.47%
12.82%
12.58%
12.50%
13.03%
12.99%
12.94%
13.11%
13.14%
13.00%
12.17%
11.83%
11.99%
12.23%
12.08%
11.79%
12.59%
12.12%
13.33%
Others
13.13%
12.98%
13.00%
12.67%
12.93%
13.02%
12.47%
12.76%
12.81%
12.77%
12.70%
2.68%
2.90%
2.81%
2.62%
2.53%
2.28%
2.41%
2.75%
2.91%
2.87%
No. of Shareholders
36,969
37,842
32,580
30,611
30,067
29,941
31,553
40,739
44,386
44,566
38,936
41,640
38,489
39,116
73,826
78,189
74,994
63,714
92,995
7,41,11,700
1,66,845

Documents

1
Concall - Jun 2018 Jun 2018
2
Concall - Aug 2018 Aug 2018
3
Concall - Nov 2018 Nov 2018
4
Concall - Feb 2019 Feb 2019
5
Concall - Jun 2019 Jun 2019

Frequently Asked Questions about Godfrey Phillips India Ltd

What does Godfrey Phillips India Ltd do?
Gndia is one of the leading FMCG Companies in India - flagship company distribute the renowned Marlboro brand in India. [1]
Where is Godfrey Phillips India Ltd (GODFRYPHLP) listed?
Godfrey Phillips India Ltd is listed on the Indian stock exchanges. It is listed on NSE: GODFRYPHLP and BSE: 500163. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Godfrey Phillips India Ltd belong to?
Godfrey Phillips India Ltd operates in the Fast Moving Consumer Goods sector within the Cigarettes & Tobacco Products industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Godfrey Phillips India Ltd?
Godfrey Phillips India Ltd has a market capitalisation of approximately ₹35509.25 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Godfrey Phillips India Ltd?
The Price-to-Earnings (PE) ratio of Godfrey Phillips India Ltd is 22.97. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Godfrey Phillips India Ltd?
Over the past 52 weeks, Godfrey Phillips India Ltd has traded between a low of ₹1,832.1 and a high of ₹3,947. This range helps investors understand the stock's price volatility and recent trading levels.
Does Godfrey Phillips India Ltd pay dividends?
Yes, Godfrey Phillips India Ltd has a dividend yield of 0.76%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Godfrey Phillips India Ltd?
Godfrey Phillips India Ltd has a Return on Equity (ROE) of 20.86%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Godfrey Phillips India Ltd on Tapetide?
On Tapetide, you can view Godfrey Phillips India Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Gndia is one of the leading FMCG Companies in India - flagship company distribute the renowned Marlboro brand in India. [1]

Website godfreyphillips.com
CEO Dr. Bina Modi
Employees 1,077
Listed 1996-07-24
Face Value ₹ 2
Issued Size 15,59,81,760

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