Godfrey Phillips India share price & results
- Jun 2026
- Sept 2026
KK Modi Group FMCG maker of cigarettes, unmanufactured tobacco leaf and confectionery; makes Marlboro for PMI.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 1,201 | −18.9% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 15.0 | −7.0 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 177 | −51.5% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
| Return on equity | 23.85 | +5.0 pts | Trailing twelve months | TTM to Jun 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | 3.36 | +4.3 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | 1.71 | −25.7 pts | Trailing twelve months | TTM to Jun 2026 | Revenue change against the same period one year earlier. |
Price
Performance −44.7% 1Y
1Y: ₹3,122.7 on 24 Oct 2025 → ₹1,725.7. High ₹3,166 (27 Oct 2025), low ₹1,664 (26 Oct 2026).
- Previous close
- ₹1,664
- Market cap
- ₹26.9k Cr
- 52-week range
- ₹1,664 – ₹3,166
- One year
- −45.49%
- Price to earnings (TTM to Jun 2026)
- 19.73×
- Return on equity (TTM to Jun 2026)
- 23.85%
Overview
- Symbol
- NSE:GODFRYPHLP
- Exchange
- NSE
- Currency
- INR
What Godfrey Phillips India Limited does
Based on the company's own presentations, annual report and earnings calls.
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
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
What the filings say
Net profit, year on year: −52% (quarter to jun 2026 against jun 2025).
| Line item | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 1,358 | 1,590 | 1,572 | 1,480 | 1,290 | 1,827 | 1,793 | 1,201 |
| Expenses | 1,086 | 1,229 | 1,303 | 1,152 | 980 | 1,452 | 1,221 | 1,026 |
| Operating profit | 271 | 361 | 270 | 328 | 310 | 374 | 572 | 174 |
| Operating margin | 20.0% | 23.0% | 17.0% | 22.0% | 24.0% | 20.0% | 32.0% | 15.0% |
| Other income | 95 | 96 | 99 | 157 | 103 | 108 | 97 | 90 |
| Interest | 3 | 3 | 4 | 3 | 3 | 3 | 3 | 3 |
| Depreciation | 26 | 27 | 41 | 27 | 28 | 30 | 32 | 33 |
| Profit before tax | 337 | 427 | 325 | 455 | 382 | 449 | 635 | 229 |
| Tax rate | 27.0% | 22.0% | 26.0% | 20.0% | 20.0% | 21.0% | 24.0% | 23.0% |
| Net profit | 247 | 332 | 241 | 365 | 304 | 354 | 484 | 177 |
| EPS (₹ per share) | 15.82 | 21.30 | 15.43 | 23.40 | 19.52 | 22.67 | 31.06 | 11.37 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 3,563 | 4,299 | 5,602 | 6,390 |
| Expenses | 2,759 | 3,431 | 4,442 | 4,805 |
| Operating profit | 804 | 868 | 1,160 | 1,584 |
| Other income | 168 | 379 | 333 | 465 |
| Interest | 29 | 24 | 13 | 12 |
| Depreciation | 153 | 134 | 120 | 117 |
| Profit before tax | 789 | 1,090 | 1,362 | 1,921 |
| Net profit | 690 | 881 | 1,043 | 1,507 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 10 | 10 | 10 | 10 | 31 | 31 |
| Reserves | 2,713 | 3,178 | 3,831 | 4,399 | 5,795 | 5,331 |
| Borrowings | 336 | 354 | 344 | 178 | 175 | 232 |
| Other liabilities | 787 | 996 | 1,160 | 1,428 | 2,100 | 1,750 |
| Total liabilities | 3,846 | 4,538 | 5,346 | 6,015 | 8,102 | 7,345 |
| Fixed assets | 948 | 898 | 853 | 692 | 725 | 773 |
| Capital work in progress | 42 | 21 | 10 | 21 | 83 | 167 |
| Investments | 1,719 | 2,364 | 2,582 | 2,389 | 3,736 | 2,477 |
| Other assets | 1,138 | 1,255 | 1,900 | 2,912 | 3,557 | 3,927 |
| Total assets | 3,846 | 4,538 | 5,346 | 6,015 | 8,102 | 7,345 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | 300 | 482 | 739 | 270 | 115 | 512 |
| Cash from investing | -318 | -232 | -536 | 60 | 403 | 42 |
| Cash from financing | 7 | -238 | -206 | -342 | -509 | -619 |
| Net cash flow | -11 | 12 | -3 | -12 | 8 | -65 |
| Free cash flow | 173 | 411 | 742 | 179 | -39 | 212 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 18 | 21 | 15 | 16 | 34 | 52 |
| Inventory days | 201 | 225 | 175 | 232 | 217 | 225 |
| Days payable | 72 | 77 | 77 | 68 | 57 | 56 |
| Cash conversion cycle | 147 | 169 | 114 | 180 | 193 | 221 |
| Working capital days | 23 | 31 | 12 | 54 | 82 | 109 |
| Return on capital employed | 15.0% | 17.0% | 21.0% | 25.0% | 29.0% | 35.0% |
| Dividend payout | 35.0% | 34.0% | 38.0% | 33.0% | 47.0% | 52.0% |
Where revenue comes from
The businesses behind the company’s reported revenue.
Cigarettes, Tobacco and related Products contributes 99.0% of reported segment revenue.
Quarter ended 30 Jun 2026 · Consolidated
- Cigarettes, Tobacco and related Products 99.0%
₹3,779.81 crore
- Others 1.0%
₹39.75 crore
| Business segment | Revenue · ₹ crore | Share |
|---|---|---|
| Cigarettes, Tobacco and related Products | 3,779.81 | 99.0% |
| Others | 39.75 | 1.0% |
Share = segment revenue ÷ total segment revenue, before intersegment adjustments.
How these numbers add up
- Total segment revenue
- ₹3,819.56 crore
- Intersegment adjustment
- ₹0.00 crore
- Net segment revenue
- ₹3,819.56 crore
Intersegment transactions are between the company’s own businesses. Net segment revenue can differ from income-statement revenue because reporting definitions differ.
Source: FinEdge · Last checked 19 Sept 2026. Reported segment names are kept as supplied.
How the mix has moved
Each segment’s share of reported revenue, quarter by quarter.
| Segment | Mar 2024 | Jun 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Mar 2026 | Jun 2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Cigarettes, Tobacco and related Products | — | 93% | — | 99% | 98% | 98% | 99% | 99% | +112.2% |
| Others | — | <1% | <1% | — | — | 2% | 1% | 1% | — |
Share of reported segment revenue by quarter, consolidated basis, as filed. A quarter the company did not report is left blank, never carried forward.
See how segments are shifting across companies → Segment Shift
What the price assumes
AttractiveTo justify its price of ₹1726, this stock must grow earnings at 15% every year for 7 years. Our analysis caps realistic growth at ~30%. At that growth it is worth ₹3579 — upside of 107%.
- Growth the price implies
- 15.4% a year
- for 7 years, fading to 4%
- It has actually compounded at
- 29.7% a year
- net profit, FY23–FY26 · EPS 29.7%
- The gap
- -0.1 pp
- 107% downside if it only repeats history
Ownership
Who owns it
Promoters hold 72.58% as of Sept 2026; institutions cut 0.11 pts since Jun 2026.
- Promoters 72.58%
- Foreign institutions 7.86%
- Domestic institutions 3.49%
- Government 0.02%
- Public 16.03%
- Others 0.01%
Who is on the register
Named in the Sep 2026 filing
Every holder of Godfrey Phillips India Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 29.85% | unchanged | |
| 25.10% | unchanged | |
| 8.29% | unchanged | |
| 4.30% | unchanged | |
| Global fund house | 2.96% | −0.14 pp |
| Global fund house | 1.47% | unchanged |
| Mutual fund | 1.46% | unchanged |
| 1.01% | unchanged | |
| 0.74% | unchanged | |
| 0.73% | unchanged | |
| 0.59% | unchanged | |
| 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 Sep 2026
0 new, 1 added, 5 trimmed, 0 sold out — net −0.01 L shares (−0.2%).
- Held by funds
- ₹100 Cr
- 8 schemes
- Biggest holder
- HDFC Large & Mid Cap Fund
- ₹83 Cr · 0.3% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| HDFC Large & Mid Cap Fund HDFC Mutual Fund | ₹83 Cr | held | Jan '26 |
| Nippon India ETF Nifty Midcap 150 Nippon India Mutual Fund | ₹7 Cr | −0.00 L | Sep '25 |
| Nippon India Nifty Midcap 150 Index Fund Nippon India Mutual Fund | ₹5 Cr | −0.00 L | Sep '25 |
| SBI Nifty Midcap 150 Index Fund SBI Mutual Fund | ₹2 Cr | +0.00 L | Oct '25 |
| SBI Arbitrage Fund (Erstwhile known as SBI Arbitrage Opportunities Fund) SBI Mutual Fund | ₹1 Cr | held | Aug '26 |
| Nippon India Nifty 500 Equal Weight Index Fund Nippon India Mutual Fund | ₹1 Cr | −0.00 L | Sep '24 |
| SBI Nifty 500 Index Fund SBI Mutual Fund | ₹0 Cr | −0.00 L | Sep '24 |
| SBI Nifty Midcap150 ETF SBI Mutual Fund | ₹0 Cr | −0.00 L | Mar '26 |
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 Sep 2026
1 added, 5 trimmed — net −848 shares (−0.2%)
- Funds are sitting on
- -21%
- vs est. average cost
- Held by funds
- ₹100 Cr
- 8 schemes · ≈ 0.34% of the company
- Biggest holder
- HDFC Large & Mid Cap Fund
- ₹83 Cr · 0.3% of that fund
- Longest holder
- Nippon India Nifty 500 Equal Weight Index Fund
- 2y 1m · since Sep '24
Shares held by these funds +1321%
Oct '23 5.29 L shares Sep '26
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