GODFRYPHLP
Godfrey Phillips India share price & financials
- Price
- ₹2,271
- Market cap
- ₹30.1k Cr
- Sector
- Fast Moving Consumer Goods
What Godfrey Phillips India Limited does
Godfrey Phillips India is the flagship FMCG company of the KK Modi Group, manufacturing and marketing cigarettes under its own brands (Four Square, Cavanders, North Pole) and, under an exclusive procurement-and-supply agreement with Philip Morris International, manufacturing and distributing the Marlboro brand in India. It also grows, processes and exports unmanufactured tobacco leaf, and separately makes and sells packaged confectionery under its own Funda and Naturalz brands while distributing Ferrero's packaged food/confectionery products in India through the same distribution network. The company previously operated a retail store business but exited and closed that division.
Segments
- Tobacco/Cigarettes
- Unmanufactured Tobacco
- Confectionery
- Retail outlet reach
- 15 lakh+ outlets across 25,000+ markets (direct and indirect)
- Direct outlet coverage
- 8.2 lakh outlets (FY26)
- Distributors
- 1,100+
- Field force
- 9,000+
- International presence
- ~30 countries across Latin America, Middle East, South East Asia and Eastern Europe
- Manufacturing facilities
- 2 cigarette factories plus a tobacco leaf processing/threshing unit at Guntur, Andhra Pradesh
Quarterly results
Q1 FY27: revenue down 18.8%, net profit down 44.4% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,360 | 1,589 | 1,573 | 1,486 | 1,289 −5% | 1,829 +15% | 1,787 +14% | 1,206 −19% |
| EBITDA | 277 | 361 | 269 | 338 | 314 +13% | 380 +5% | 553 +106% | 181 −46% |
| Net profit | 248 | 316 | 280 | 356 | 305 +23% | 343 +9% | 521 +86% | 198 −44% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −82.1% 1Y
1Y: ₹10,787 on 10 Sept 2025 → ₹1,927. High ₹10,787 (10 Sept 2025), low ₹1,844 (23 Mar 2026).
Financials, as filed
Revenue grew 21.5% a year over 3 years, FY23 to FY26. Operating margin widened to 24.8%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹3.6k Cr | ₹4.3k Cr | ₹5.6k Cr | ₹6.4k Cr |
| Operating profit | ₹804 Cr | ₹896 Cr | ₹1.2k Cr | ₹1.6k Cr |
| Operating margin | 22.6% | 20.7% | 21.0% | 24.8% |
| Interest | ₹29 Cr | ₹24 Cr | ₹13 Cr | ₹12 Cr |
| Depreciation | ₹153 Cr | ₹137 Cr | ₹124 Cr | ₹121 Cr |
| Net profit | ₹690 Cr | ₹883 Cr | ₹1.1k Cr | ₹1.5k Cr |
| Net margin | 19.4% | 20.4% | 19.1% | 23.9% |
| Cash from operations | ₹736 Cr | ₹290 Cr | ₹107 Cr | ₹518 Cr |
| Free cash flow | ₹736 Cr | ₹192 Cr | ₹-53 Cr | ₹215 Cr |
| ROCE | 22.0% | 23.0% | 26.0% | 30.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹10 Cr | ₹10 Cr | ₹10 Cr | ₹10 Cr | ₹31 Cr | ₹31 Cr |
| Reserves | ₹2.6k Cr | ₹2.9k Cr | ₹3.5k Cr | ₹4.2k Cr | ₹5.8k Cr | ₹6.2k Cr |
| Borrowings | ₹396 Cr | ₹337 Cr | ₹355 Cr | ₹345 Cr | ₹175 Cr | ₹234 Cr |
| Other liabilities | ₹754 Cr | ₹837 Cr | ₹1.1k Cr | ₹1.3k Cr | ₹2.1k Cr | ₹1.9k Cr |
| Total liabilities | ₹3.7k Cr | ₹4.1k Cr | ₹5.0k Cr | ₹5.8k Cr | ₹8.1k Cr | ₹8.3k Cr |
| Fixed assets | ₹1.0k Cr | ₹983 Cr | ₹932 Cr | ₹893 Cr | ₹725 Cr | ₹812 Cr |
| Capital work in progress | ₹26 Cr | ₹42 Cr | ₹22 Cr | ₹10 Cr | ₹83 Cr | ₹168 Cr |
| Investments | ₹1.6k Cr | ₹1.8k Cr | ₹2.7k Cr | ₹3.0k Cr | ₹3.7k Cr | ₹3.3k Cr |
| Other assets | ₹1.1k Cr | ₹1.2k Cr | ₹1.3k Cr | ₹1.9k Cr | ₹3.6k Cr | ₹4.0k Cr |
| Total assets | ₹3.7k Cr | ₹4.1k Cr | ₹5.0k Cr | ₹5.8k Cr | ₹8.1k Cr | ₹8.3k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, the public added +1.72 pp while FIIs trimmed −1.52 pp. The shareholder count grew 146% to 1,56,601.
- Promoters
- 72.6%
- FIIs
- 7.8%
- DIIs
- 3.7%
- Government
- 0.0%
- Public
- 15.9%
Since Jun 2025
- Public +1.72 pp
- FIIs −1.52 pp
- DIIs −0.19 pp
How it drifted, 12 quarters
Over this window FIIs fell from 9.9% to 7.8% — −2.1 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 72.6%, FIIs 9.9%, DIIs 1.6%, Government 0.1%, Public 15.9%.Dec '23: Promoters 72.6%, FIIs 10.1%, DIIs 1.6%, Government 0.1%, Public 15.7%.Mar '24: Promoters 72.6%, FIIs 10.8%, DIIs 1.5%, Government 0.1%, Public 14.7%, Others 0.4%.Jun '24: Promoters 72.6%, FIIs 10.8%, DIIs 1.9%, Government 0.1%, Public 14.2%, Others 0.4%.Sep '24: Promoters 72.6%, FIIs 10.8%, DIIs 2.0%, Government 0.1%, Public 14.2%, Others 0.4%.Dec '24: Promoters 72.6%, FIIs 10.6%, DIIs 2.0%, Government 0.1%, Public 14.4%, Others 0.3%.Mar '25: Promoters 72.6%, FIIs 9.7%, DIIs 3.3%, Government 0.1%, Public 14.4%.Jun '25: Promoters 72.6%, FIIs 9.3%, DIIs 3.9%, Government 0.1%, Public 14.2%.Sep '25: Promoters 72.6%, FIIs 7.9%, DIIs 4.1%, Government 0.0%, Public 15.3%.Dec '25: Promoters 72.6%, FIIs 8.2%, DIIs 4.2%, Government 0.0%, Public 15.0%.Mar '26: Promoters 72.6%, FIIs 7.9%, DIIs 3.3%, Government 0.0%, Public 16.2%.Jun '26: Promoters 72.6%, FIIs 7.8%, DIIs 3.7%, Government 0.0%, Public 15.9%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- HSBC Mutual Fund - HSBC Midcap Fund Mutual fund newly disclosed 1.43% held
- The Jupiter Global Fund - Jupiter India Select Global fund house +0.14 pp 1.45% held
The same filing shows 0 holders trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Godfrey Phillips India Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| K K Modi Investment And Financial Services Pvt Ltd | 29.85% | unchanged |
| Philip Morris Global Brands Inc | 25.10% | unchanged |
| Good Investment (India) Ltd | 8.29% | unchanged |
| Quick Investment (India) Ltd | 4.30% | unchanged |
| Jupiter India Fund Global fund house | 3.10% | unchanged |
| The Jupiter Global Fund - Jupiter India Select Global fund house | 1.45% | +0.14 pp |
| HSBC Mutual Fund - HSBC Midcap Fund Mutual fund | 1.43% | newly disclosed |
| Super Investment (India) Limited | 1.01% | unchanged |
| K K Modi & Bina Modi Trustees -Indofil Senior Executives (Offices) Welfare Trust | 0.74% | unchanged |
| K K Modi & Bina Modi Trustees -Indofil Junior Employees (Factory) Welfare Trust | 0.73% | unchanged |
| K K Modi & Bina Modi Trustees - Indofil Junior Employees (Offices) Welfare Trust | 0.59% | unchanged |
| K K Modi & Bina Modi Trustees - Indofil Senior Executives (Factory) Welfare Trust | 0.59% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in GODFRYPHLP
Filings to Aug 2026
2 new, 5 added, 1 trimmed, 0 sold out — net +0.12 L shares (+2.4%).
- Held by funds
- ₹113 Cr
- 9 schemes
- Biggest holder
- HDFC Large and Mid Cap Fund
- ₹93 Cr · 0.3% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| HDFC Large and Mid Cap Fund HDFC Mutual Fund | ₹93 Cr | held | Jan '26 |
| Nippon India ETF Nifty Midcap 150 Nippon India Mutual Fund | ₹8 Cr | +0.02 L | Sep '25 |
| Nippon India Nifty Midcap 150 Index Fund Nippon India Mutual Fund | ₹6 Cr | +0.01 L | Sep '25 |
| SBI Nifty Midcap 150 Index Fund SBI Mutual Fund | ₹3 Cr | +0.00 L | Oct '25 |
| SBI Arbitrage Fund SBI Mutual Fund | ₹1 Cr | new | Aug '26 |
| Nippon India Nifty 500 Equal Weight Index Fund Nippon India Mutual Fund | ₹1 Cr | +0.00 L | Sep '24 |
| HDFC Arbitrage Fund HDFC Mutual Fund | ₹1 Cr | new | Jul '26 |
| SBI Nifty 500 Index Fund SBI Mutual Fund | ₹0 Cr | −0.00 L | Sep '24 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
5 added, 1 trimmed — net +12,386 shares (+2.4%)
- Funds are sitting on
- +4%
- vs est. average cost
- Held by funds
- ₹113 Cr
- 9 schemes · ≈ 0.40% of the company
- Biggest holder
- HDFC Large and Mid Cap Fund
- ₹93 Cr · 0.3% of that fund
- Longest holder
- Nippon India Nifty 500 Equal Weight Index Fund
- 2y · since Sep '24
Shares held by these funds +1453%
Aug '23 5.22 L shares Jul '26
What the price assumes
AttractiveTo justify its price of ₹1927, this stock must grow earnings at 17% every year for 7 years. Our analysis caps realistic growth at ~30%. At that growth it is worth ₹3739 — upside of 94%.
- Growth the price implies
- 17.1% a year
- for 7 years, fading to 4%
- It has actually compounded at
- 30.3% a year
- net profit, FY23–FY26 · EPS 30.3%
- The gap
- -0.1 pp
- 94% downside if it only repeats history
Learn to analyse Godfrey Phillips India Limited
Guides on how to read this kind of business and the numbers that matter.