GODFRYPHLP

Godfrey Phillips India Limited

Cigarettes and tobacco products, plus consumer distribution and tobacco exports

Fast Moving Consumer Goods›Fast Moving Consumer Goods›Cigarettes & Tobacco Products›Cigarettes & Tobacco Products

godfreyphillips.co.in(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹1852.00
Market cap
28,885 Cr
Stock P/E
21.1
P/B
4.65
Dividend yield
2.0%
ROE (FY26)
24.5%
ROCE (FY26)
30.9%
Operating margin (FY26)
16.0%
Debt / equity (FY26)
0.02
OCF / EBITDA (FY26)
32.7%
OCF / EBITDA (3Y)
25.1%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Godfrey Phillips (Godfrey Phillips India) sells cigarettes and other tobacco products in India and also exports unmanufactured tobacco.

Company snapshot

1stBy market cap

Ranked among 2 companies in Cigarettes & Tobacco Products.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 96.7% of revenue

SegmentRevenue shareRevenuePBTAssets
Cigarette,tobacco and related products
96.7%
4,824 Cr816 Cr—
Others
0.2%
8 Cr7 Cr—
Retail and related products
3.1%
156 Cr-90 Cr—

What we see

Positives
  • ✓Net margin of 16.7% — the business keeps a healthy share of every rupee it earns.
Concerns
  • ✗Only 25% of operating profit came in as cash over the last three years — much of it is tied up in unpaid bills or stock.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales1,375 Cr1,488 Cr1,197 Cr1,441 Cr1,651 Cr1,896 Cr1,888 Cr1,813 Cr1,632 Cr2,190 Cr3,486 Cr3,820 Cr
Operating expenses (approx.)1,151 Cr1,260 Cr1,009 Cr1,175 Cr1,380 Cr1,537 Cr1,619 Cr1,476 Cr1,318 Cr1,810 Cr2,933 Cr3,638 Cr
EBITDA224 Cr228 Cr188 Cr266 Cr272 Cr359 Cr269 Cr338 Cr314 Cr380 Cr553 Cr181 Cr
OPM %16.3%15.3%15.7%18.4%16.5%18.9%14.3%18.6%19.3%17.4%15.9%4.8%
Other income38 Cr57 Cr66 Cr45 Cr51 Cr47 Cr78 Cr77 Cr37 Cr45 Cr46 Cr78 Cr
Interest7 Cr6 Cr7 Cr6 Cr5 Cr3 Cr4 Cr3 Cr3 Cr3 Cr3 Cr3 Cr
Depreciation36 Cr36 Cr36 Cr36 Cr32 Cr28 Cr42 Cr28 Cr29 Cr31 Cr33 Cr34 Cr
Profit before tax258 Cr272 Cr269 Cr261 Cr338 Cr410 Cr355 Cr448 Cr383 Cr440 Cr669 Cr251 Cr
Tax %21.6%22.1%20.2%12.4%26.5%23.0%21.1%20.5%20.4%22.0%22.1%21.0%
Net profit202 Cr212 Cr215 Cr229 Cr248 Cr316 Cr280 Cr356 Cr305 Cr343 Cr521 Cr198 Cr
EPS (₹)₹38.86₹40.85₹41.20₹44.10₹47.92₹60.95₹53.88₹68.53₹19.56₹22.01₹33.43₹12.72

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales4,412 Cr2,891 Cr2,612 Cr3,068 Cr2,961 Cr3,229 Cr4,260 Cr5,305 Cr6,767 Cr9,121 CrSign in free for the trailing twelve months
Operating expenses (approx.)4,159 Cr2,632 Cr2,209 Cr2,476 Cr2,420 Cr2,595 Cr3,456 Cr4,412 Cr5,590 Cr7,536 CrSign in free for the trailing twelve months
EBITDA253 Cr258 Cr403 Cr592 Cr541 Cr633 Cr804 Cr892 Cr1,177 Cr1,585 CrSign in free for the trailing twelve months
OPM %5.7%8.9%15.4%19.3%18.3%19.6%18.9%16.8%17.4%17.4%Sign in free for the trailing twelve months
Other income47 Cr55 Cr79 Cr107 Cr119 Cr114 Cr168 Cr214 Cr221 Cr205 CrSign in free for the trailing twelve months
Interest4 Cr2 Cr0.97 Cr30 Cr31 Cr34 Cr29 Cr26 Cr12 Cr12 CrSign in free for the trailing twelve months
Depreciation98 Cr98 Cr99 Cr155 Cr141 Cr145 Cr154 Cr146 Cr124 Cr121 CrSign in free for the trailing twelve months
Profit before tax199 Cr233 Cr383 Cr514 Cr487 Cr568 Cr873 Cr1,095 Cr1,363 Cr1,941 CrSign in free for the trailing twelve months
Tax %31.3%31.7%32.1%25.1%22.7%22.9%20.9%19.3%21.3%21.4%Sign in free for the trailing twelve months
Net profit137 Cr159 Cr260 Cr385 Cr376 Cr438 Cr690 Cr884 Cr1,072 Cr1,526 CrSign in free for the trailing twelve months
EPS (₹)₹26.39₹30.59₹50.06₹74.02₹72.41₹84.25₹132.80₹169.87₹206.81₹97.84Sign in free for the trailing twelve months
Dividend payout %————0.7%28.3%21.0%25.8%43.8%37.7%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital10 Cr10 Cr10 Cr10 Cr10 Cr10 Cr10 Cr10 Cr10 Cr31 Cr
Reserves1,650 Cr1,783 Cr2,028 Cr2,177 Cr2,572 Cr2,917 Cr3,538 Cr4,222 Cr5,235 Cr6,181 Cr
Borrowings47 Cr28 Cr42 Cr12 Cr16 Cr31 Cr36 Cr45 Cr31 Cr95 Cr
Other liabilities463 Cr609 Cr753 Cr1,067 Cr1,128 Cr1,138 Cr1,379 Cr1,560 Cr1,686 Cr1,997 Cr
Total liabilities2,211 Cr2,466 Cr2,867 Cr3,295 Cr3,732 Cr4,102 Cr4,968 Cr5,843 Cr6,969 Cr8,310 Cr
Fixed assets (net)689 Cr637 Cr683 Cr655 Cr709 Cr655 Cr603 Cr595 Cr554 Cr653 Cr
CWIP13 Cr18 Cr14 Cr17 Cr26 Cr37 Cr22 Cr10 Cr23 Cr168 Cr
Investments507 Cr924 Cr1,240 Cr1,260 Cr1,563 Cr1,879 Cr2,704 Cr3,034 Cr3,237 Cr3,338 Cr
Loans & advances——1 Cr1 Cr2 Cr2 Cr0.98 Cr2 Cr5 Cr7 Cr
Inventories652 Cr585 Cr642 Cr688 Cr743 Cr829 Cr928 Cr1,442 Cr1,997 Cr2,264 Cr
Trade receivables179 Cr86 Cr69 Cr69 Cr123 Cr155 Cr150 Cr173 Cr516 Cr907 Cr
Cash & bank9 Cr21 Cr29 Cr25 Cr23 Cr29 Cr16 Cr10 Cr14 Cr3 Cr
Other assets162 Cr195 Cr189 Cr581 Cr542 Cr517 Cr545 Cr577 Cr622 Cr970 Cr
Total assets2,211 Cr2,466 Cr2,867 Cr3,295 Cr3,732 Cr4,102 Cr4,968 Cr5,843 Cr6,969 Cr8,310 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity245 Cr516 Cr362 Cr375 Cr310 Cr479 Cr736 Cr290 Cr107 Cr518 Cr
Cash from investing-125 Cr-405 Cr-310 Cr-72 Cr-298 Cr-234 Cr-541 Cr55 Cr402 Cr27 Cr
Cash from financing-125 Cr-100 Cr-43 Cr-303 Cr-16 Cr-238 Cr-206 Cr-349 Cr-491 Cr-619 Cr
Net cash flow-4 Cr12 Cr9 Cr0.10 Cr-4 Cr6 Cr-11 Cr-4 Cr18 Cr-73 Cr
Free cash flow (OCF − Capex)176 Cr455 Cr231 Cr253 Cr178 Cr395 Cr649 Cr190 Cr-60 Cr206 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %11.6%12.6%18.2%24.4%19.9%20.3%25.1%26.2%26.0%30.9%
ROE %8.1%8.7%12.6%17.4%14.6%14.9%19.4%20.8%20.4%24.5%
Debtor days1511108151713122836
Inventory days396317356356525497368486481436
Days payable9593161131165152145157120102
Cash conversion cycle316235205233375363236340388369
OCF / EBITDA %96.9%199.8%89.8%63.4%57.2%75.6%91.6%32.5%9.1%32.7%
OCF / EBITDA % (3 years)——122.9%100.0%68.1%65.9%77.1%64.6%39.4%25.1%
Debt / equity0.030.020.020.00550.00620.010.010.010.00590.02
Current ratio2.341.721.471.431.932.001.371.662.112.44
Net debt / EBITDA0.15—0.03-0.02-0.010.00320.030.040.010.06