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Godfrey Phillips India Ltd (GODFRYPHLP)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 500163 NSE: GODFRYPHLP Cigarettes/Tobacco | Small Cap | Godfrey Phillips Ind Share Price

₹2,315 69.80 (3.11%)

As on 04-Aug'26 12:41

Godfrey Phillips India Ltd (GODFRYPHLP)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 500163 NSE: GODFRYPHLP Cigarettes/Tobacco | Small Cap | Godfrey Phillips Ind Share Price

₹2,315 69.80 (3.11%)

As on 04-Aug'26 12:41

Key Metrics
Valuation Multiples
Market Cap
₹35,021 Cr.
Current Price
₹2,315
52-Week Low / High
₹1,833 / 3,945
TTM EPS
₹84.6
TTM Sales
₹11,087 Cr.
Book Value per Share
₹354.1
P/E Ratio
26.55
Higher than its 5-year historical median
Industry PE
19.3
Price to Book (P/B)
6.34
Higher than its 5-year historical median
Price to Sales (P/S)
3.16
Higher than its 5-year historical median
EV/EBITDA
19.20
Higher than its 5-year historical median
Dividend Yield
2.16%
Profitability Efficiency
Return on Equity (ROE)
30.91%
Outperforms industry median
Return on Capital Employed (ROCE)
39.05%
Outperforms industry median
Return on Assets (ROA)
22.56%
Operating Profit Margin
24.8%
Net Profit Margin
23.58%
Gross Profit Margin
21.8%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
14.05%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
36.61%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
34.08%
Asset Quality
Promoter Holding
72.58%
Pledged shares (%) of Promoter's holding (%)
0.21%
Reserves
₹5,492 Cr.
Equity
₹31.2 Cr.
Face Value
₹2
All Time Low / High
₹7.33 / 3945.00

Godfrey Phillips India stock performance

Key Ratios
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Check Before You Invest

Valuation

Somewhat Overvalued

Price Trend

Semi Strong
Q.1 Is Godfrey Phillips India Ltd a good quality company?
Godfrey Phillips India Ltd is a good quality company, based on a consistently good multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Godfrey Phillips India Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Godfrey Phillips India Ltd vs industry peers?
Godfrey Phillips India Ltd revenue CAGR is 20.74%, compared to the industry median CAGR of 4.35%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Godfrey Phillips India Ltd?
Promoters hold 72.58% of the Godfrey Phillips India Ltd, with 0.21% of their stake pledged, indicating low pledge risk.
Q.1 Stock return of Godfrey Phillips India Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 19.4% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Godfrey Phillips India Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % 12.2%13.9%19.8%27.2%21.7%22.7%27.4%32.5%34.9%39.1%-
Value Creation
Index
-0.10.00.41.00.60.71.01.42.12.5-

Growth Parameters

Sales 2,3862,3122,4772,8532,4902,6743,5603,9885,6026,38911,087
Sales YoY Gr.--3.1%7.2%15.2%-12.7%7.4%33.1%12%40.5%14.1%-
Adj EPS 77.613.120.918.523.932.750.863.788.684.6
YoY Gr.-8%73.4%59.5%-11.4%29%36.6%55.4%25.5%39.1%-
BVPS (₹) 102.1109.5121.6132.1154.9174.6204.4246282.4342.7354.1
Adj Net
Profit
1091182043262893735097929941,3831,319
Cash Flow from Ops. 248514352377300482739270115512-
Debt/CF from Ops. 0.30.10.100.30.10.10.20.30.2-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 11.6%20.7%21.5%14.1%
Adj EPS 32.6%36.8%39.5%39.1%
BVPS14.4%17.2%18.8%21.4%
Share Price 19.7% 45.9% 51.3% -22.8%

Key Financial Parameters

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
77.211.416.512.914.517.222.524.128.324.3
Op. Profit
Mgn %
10.511.21620.820.723.522.52220.724.812.9
Net Profit
Mgn %
4.65.18.311.411.613.914.319.917.721.611.9
Debt to
Equity
0.1000000000-
Working Cap
Days
7398104971151189911512813386
Cash Conv.
Cycle
3548393146514050717048

Valuation of Godfrey Phillips Ind - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.210.21
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales2,3862,3122,4772,8532,4902,6743,5603,9885,6026,389
Operating Expenses + 2,1382,0542,0972,2611,9732,0472,7593,1124,4424,805
Manufacturing Costs115143178198168177204153173182
Material Costs1,2701,1911,0701,2531,2181,2251,7812,1643,2533,543
Employee Cost 216203245242224240223191238258
Other Costs 536516603568362406551604778822
Operating Profit 2482583805925166278028761,1601,585
Operating Profit Margin (%) 10.4%11.2%15.4%20.8%20.7%23.4%22.5%22.0%20.7%24.8%
Other Income + 475479106118110168386414464
Exceptional Items 02000000000
Interest 32130313429131212
Depreciation 949696152138142151105120117
Profit Before Tax 1982343635164655627901,1431,4421,920
Tax 6174122128108130181220318414
Profit After Tax 1361612413883574326089231,1241,507
PAT Margin (%) 5.7%7.0%9.7%13.6%14.3%16.2%17.1%23.2%20.1%23.6%
Adjusted EPS (₹)8.710.315.524.922.927.739.059.272.096.6
Dividend Payout Ratio (%)30.50%25.90%21.60%32.20%35%33.70%37.60%31.50%44%51.80%
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 1,5921,7071,8962,0612,4162,7243,1883,8374,4055,346
Share Capital 10101010101010101031
Reserves 1,5811,6971,8862,0502,4062,7133,1783,8264,3955,315
Debt +46274111153035442993
Long Term Debt0000000000
Short Term Debt46274111153035442993
Minority Interest0000000000
Trade Payables163174291251239259374404510545
Others Liabilities 2774084167758488349411,0611,0701,360
Total Liabilities 2,0782,3162,6443,0973,5183,8464,5385,3466,0157,345

Fixed Assets

Net Fixed Assets +667615656974991914865821654736
Gross Block8619001,0341,4971,6391,6911,6841,7531,4491,619
Accumulated Depreciation193285377523649777819932796883
CWIP 131814172642211021167
Investments 5008951,1431,1901,4761,7192,3642,5822,3892,477
Inventories5775115696146717568561,3761,9322,188
Trade Receivables175886767124156150173516907
Cash Equivalents 27372837263632221715
Others Assets 118153167200205224251363486853
Total Assets 2,0782,3162,6443,0973,5183,8464,5385,3466,0157,345
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + 248514352377300482739270115512
PBT 1982343635164655627901,0871,3341,921
Adjustment 57584892687641-198-207-249
Changes in Working Capital 5029369-109-134-1797-425-745-773
Tax Paid -57-72-128-122-99-139-189-194-267-388
Cash Flow From Investing Activity + -131-409-312-70-318-232-5366040342
Capex -65-57-124-115-127-713-91-154-300
Net Investments -68-348-18639-171-167-546-3235766
Others 2-3-25-2056182199276
Cash Flow From Financing Activity + -120-96-39-2997-238-206-342-509-619
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -61-26006000000
Interest Paid -3-1-4-30-29-38-26-28-16-11
Dividend Paid -42-41-41-172-3-124-145-228-470-575
Others -15-286-97-22-76-35-85-23-32
Net Cash Flow -3907-1112-3-128-65
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)8.799.7513.3719.615.9416.8120.5826.2827.2730.91
ROCE (%)12.1813.8819.827.2421.7222.727.3932.5434.9439.05
Asset Turnover Ratio2.141.361.081.090.890.881.020.991.191.4
PAT to CFO Conversion(x)1.823.191.460.970.841.121.220.290.10.34
Working Capital Days
Receivable Days11.6016.1010.507.8011.8015.80131218.6027.80
Inventory Days51.6066.7073.406979.6080.5068.7082.908980.30
Payable Days41.6051.7079.3078.9073.4074.3063.5063.4049.7052.60

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Godfrey Phillips India Ltd FAQs

The current trading price of Godfrey Phillips Ind on 04-Aug-2026 12:41 is ₹2,315.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 03-Aug-2026 the market cap of Godfrey Phillips Ind stood at ₹35,021 Cr

The latest P/E ratio of Godfrey Phillips Ind as of 03-Aug-2026 is 26.55.

The latest P/B ratio of Godfrey Phillips Ind as of 03-Aug-2026 is 6.34.

The 52-week high of Godfrey Phillips Ind is ₹3,945 and the 52-week low is ₹1,832.7.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Godfrey Phillips Ind is ₹11,087 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Godfrey Phillips India Ltd is a good quality company.

The key valuation ratios of Godfrey Phillips India Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Godfrey Phillips India Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About Godfrey Phillips India Ltd

Godfrey Phillips India, a flagship company of Modi Enterprises, is one of the largest FMCG companies in the country with many iconic cigarette brands like Four Square, Red & White, and Cavanders to its name. It also has an exclusive sourcing and supply agreement with Philip Morris International to manufacture and distribute the renowned Marlboro brand in India. Along with a strong cigarette and tobacco portfolio, it also has a strong confectionery portfolio with Funda and has unique offerings for international markets.

At Godfrey Phillips India, its Leaf Division stands as a testament to its unwavering commitment to quality and sustainability. Located in the tobacco-growing heartland of Andhra Pradesh in Southern India, this independent division grants it access to the finest tobacco in the world. It deals with a diverse range of tobacco varieties available in India, catering to the specific needs of its global clientele. Its tobacco finds its way to some of the most renowned manufacturers in the industry, including names like Phillip Morris, JTI, ITG, Eastern Co, and European Tobaccos.

Business area of the company

The company is engaged in manufacturing of cigarettes and tobacco products and trading of cigarettes, tobacco products and other retail products.

Cigarettes brands

  • Marlboro: Marlboro is one of the best-known brands among all consumer products and has been the world’s number-one international selling cigarette brand since 1972. Marlboro is popular with affluent urban adult smokers who prefer high quality international brands and products.
  • Four Square: Four Square is the flagship cigarette brand of Godfrey Phillips India Limited. The brand has always been known for its iconic taste and great quality. Four Square caters to the young urbane aspirers needs and desires through top quality products and innovations. Four Square Crush offers a wide range of products like Clove Crush (India’s 1st clove cigarette with mint cooling experience), Crush Tropical mix, Crush Saunf Mix and Crush Fresho.
  • Red & White: Red & White is a legendary flagship GPI brand. With the right expertise, heritage, strength and blend the brand ensures that everything it brings is an enhancement on the strong foundation of a great blend.
  • Stellar: Stellar is the fastest growing cigarette brand of the industry. While it was launched in 2008 as India's first slim cigarette, the brand has been relaunched in 2016 as a brand which caters to the urban youth with latest innovations in various product formats and filter innovations. Its other variants and sub-brands Define and Shift have created a new category of smoking experiences in the Indian market. Each product within its range offers a distinctive customer experience, resonating with the youth. Its latest offering Stellar Edge Surprise offers 5 different experiences in a single pack.
  • Cavanders: Introduced in 1775, Cavanders proudly upholds the values of timeless quality, trust, and camaraderie. With a versatile product portfolio offering in both conventional filter and non-filter cigarettes with a nationwide presence, Cavanders has consistently captivated the hearts of discerning consumers across every corner of India.
  • Originals: Originals is a blend meticulously crafted for an impactful and rich taste offering a strong value for money proposition.
  • North Pole: North Pole is a menthol flavoured cigarette, that enjoys strong popularity amongst its loyal consumer base in the South.
  • Tipper: Tipper is a popular brand of South India.
  • Focus: Focus is a brand for dynamic achievers who believe in excellence. It offers quality blend with innovative freshness characteristics. It has been one of the fastest growing brands from the company across consumer segments with a pan India relevance.

Awards and Recognitions

2017-18

  • Rabale Cigarette Factory received Vasundhara Award for Environment Performance, Green Tech Platinum Award for Safety Performance and Excellence Award from “INSAAN” Society.
  • Ghaziabad Chewing Factory received Best Food Safety Award by ASSOCHAM and Gold Award in Best Practices in HR Domain by GMA.

2018-19

  • Rabale cigarette factory received Green Tech Safety “Gold Award” for outstanding achievement in safety management. Green Tech ‘Platinum Award for Safety Performance’ for exceptional achievement in environment management and Excellence Award from “INSAAN” society.
  • Ghaziabad chewing factory has been certified on Environment Management System ISO 14001:2015 by TUV SUD South Asia Private Limited in March 2019.

2019-20

  • Guldhar factory received Greentech Environment “Winner Award” for exceptional achievement & initiatives in environment management.
  • Rabale factory received Green tech Safety “Platinum Award” for outstanding achievement in safety management and environment management.
  • Rabale factory received excellence award from `INSAAN’ society on suggestions schemes.
  • Chewing Ghaziabad plant won Prestigious “GREENTECH Award 2019” in the field of “Environment safety 2019”.
  • Participated in the Asia Collaborative Study organized by TIOJ, Japan in which 69 laboratories from 54 countries took part. The results obtained by its laboratory were found to be at par with any national or international laboratory on the basis of the Z-score issued by TIOJ.
2020-21

  • Guldhar factory received “Greentech Environment Winner Award-2020” for exceptional achievement & initiatives in environment management.
  • Guldhar factory received “Greentech Safety Winner Award-2020” for achievement & initiatives towards safety management.
  • Guldhar factory received recognition from FICCI for Quality Systems Excellence in 2020.
  • Guldhar factory received award from INSAAN Society on essay/slogan and suggestions schemes.
  • Rabale factory received “Greentech Safety Winner Award” for outstanding achievement towards safety management.
  • Rabale factory received “Greentech Environment Winner Award” for outstanding achievement in environment management.
2021-22

  • Received “Greentech Environment Winner Award” for outstanding achievement in environment management.
  • Received “Greentech Safety Winner Award” for outstanding achievement in energy management.
2022-23

  • Received G Winner Award for outstanding achievement towards safety management.
  • Received “Greentech Environment Winner Award” for outstanding achievement in environment management.
  • Received “FICCI Award” for outstanding achievement towards quality and innovation.
2023-24

  • Rabale factory is successfully re-certified for Integrated Management System (IMS) i.e. ISO 50001, ISO 14001 and ISO 45001.
  • Rabale factory is now certified for ISO 26000:2010 (Social Responsibility).
  • Received Green Tech Environment Excellence Award.
  • Received Green Tech Quality and Innovation Award.
2024-25

  • Received the ‘Gold Medal’ in the ‘National Awards for Manufacturing Competitiveness from the International Research Institute for Manufacturing (IRIM).
  • Successfully completed surveillance audit for the Integrated Management System (IMS), including ISO 14001:2015, ISO 45001:2018, ISO 50001:2018.
  • Successfully completed surveillance audit for ISO 9001:2015.
  • Certified for ISO 26000:2010 (Social Responsibility).
  • Received Green Tech safety Excellence Award.
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