Godfrey Phillips India Ltd(GODFRYPHLP)

NSE: GODFRYPHLPBSE: 500163

₹ 1,670-3.36%refreshed 23 Oct, 03:50 pm ISTMarket cap: ₹ 26,049 crWebsite: www.godfreyphillips.co.inUpdated: 24 Oct 2026

About

Godfrey Phillips India Ltd manufactures and markets cigarettes, processes and exports unmanufactured tobacco, and operates an international cigarette business across ~35 countries. In FY26, the company recorded consolidated Gross Sales Value of Rs. 18,379 Cr and net profit from continuing operations of Rs. 1,525 Cr. Cigarettes, Tobacco and related Products accounted for 98.8% of reported segment revenue in FY26.^[1][2][3]

Business segments

Cigarettes, Tobacco and related Products: 98.8% of segment revenue (Rs. 9,008.2 Cr) in FY26, with EBIT margin of 16.4% - the sole reportable segment.^[3]
Unmanufactured tobacco exports contributed Rs. 1,945 Cr, or 21% of net sales revenue, in FY26.^[1]
International business net sales were Rs. 2,014 Cr in FY26, spanning ~35 countries across Latin America, Middle East, South East Asia and Eastern Europe.^[1][4]

Products and brands

Core portfolio: domestic cigarettes under own brands, plus manufacture and distribution of Marlboro cigarettes in India under a partnership with Philip Morris International.^[1][5]
Own-brand cigarettes accounted for 20% of international division net sales in H1 FY26.^[5]
Confectionery brand Funda Goli (range of candies) generated Gross Sales of Rs. 13 Cr in FY26, with variants including Funda Lemon Chaskaa and Funda Gum Shums.^[1][4]
Ferrero India product supply and distribution agreement: company distributes sweet-packaged food products made by Ferrero India, with two dedicated SKUs (Orange and Mint refill packs) for the distribution channel.^[5]

Key operating numbers

Domestic cigarette sales volume grew 20% in FY26 vs. the prior year, with monthly volumes reaching 2,190 million in Q4 FY26 vs. 1,903 million in Q4 FY25.^[1]
Domestic cigarette sales volume declined 2% YoY in Q1 FY27, following steep tax-led price increases implemented in Q4 FY26.^[6]
Gross Sales Value (inclusive of indirect taxes) was Rs. 5,676 Cr in Q1 FY27, up 38.6% YoY, driven primarily by excise duty pass-through (excise duty line surged from Rs. 327 Cr to Rs. 2,614 Cr).^[6]
Gross profit margin (on Gross Sales Value) compressed to 7.8% in Q1 FY27 from 15.3% in Q1 FY26, and FY26 full-year gross profit margin was 15.5%.^[6][1]
Unmanufactured tobacco export sales were Rs. 248 Cr in Q1 FY27, contributing 7% of net sales revenue, impacted by geopolitical headwinds.^[6]
Ferrero distribution revenue grew more than 2X from Rs. 22 Cr in FY25 to Rs. 51 Cr in FY26.^[6][1]

Distribution and reach

Direct outlet coverage grew 21% to 10.0 lakh outlets in FY26 from 8.2 lakh in FY25; total reach exceeds 15 lakh outlets through direct and indirect channels spanning 25,000+ markets.^[1]
International business operates across ~35 countries in Latin America, Middle East, South East Asia, and Eastern Europe.^[4][5]

Recent developments

A steep excise duty increase implemented in Q4 FY26 drove a 44.3% YoY fall in net profit and a 46.2% YoY fall in EBITDA in Q1 FY27; management is passing through costs via phased price increases rather than a single step-up.^[6]
Higher tax burden has contributed to growth of illicit trade in the legal cigarette industry, flagged by management in Q1 FY27 as a significant ongoing concern.^[6]
GPI's Dow Jones Sustainability Indices (DJSI) ESG score reached 77 in FY26, up from 64 in FY25 and approximately 7x since 2022 (when it stood at 11).^[6]
Board issued bonus equity shares in the ratio of 2:1 and declared an interim dividend of Rs. 17 per share for FY26 on the enhanced capital base.^[5]

Market Cap

₹26,049 Cr

High / Low

₹3,421 / 1,661

Stock P/E

19.0

Price / Book

4.2

Book Value

₹398

EPS

₹97.8

No. of Shares

15.6 Cr

ROCE

32.6%

ROE

26.6%

OPM

17.9%

Debt / Equity

0.02

Sales

₹9,121 Cr

Net Profit

₹1,526 Cr

Promoter holding

72.6%

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Godfrey Phillips India Ltd(GODFRYPHLP)

About

Business segments

Products and brands

Key operating numbers

Distribution and reach

Recent developments

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