Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 8 Sep - Newspaper publication regarding Special window for transfer and dematerialisation of physical shares.
Source: Bse
Godfrey Phillips India Limited (GODFRYPHLP)
Mid CapFMCG stocks · Mid cap · NSE
One of India's leading FMCG companies and the flagship of the KK Modi Group, Godfrey Phillips India has diversified interests in Tobacco & Confectionary. It holds strong credit ratings (CRISIL A1+, AA+/Stable) and operates ISO-certified manufacturing facilities. The company employs ~1,100 people and leverages a vast distribution network of 1100+ distributors and 9000+ field force.
Data qualityFresh enough for analysisQuote updated 21 Oct, 12:15 pm ISTDetails
Quote21 Oct, 12:15 pm IST
Base fundamentals20 Oct 2026 · screener
Latest result27 Jul, 11:03 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags15 Aug 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · FMCG P/E 37.8 (n=42)
Technical timing lens
Trend score and candlestick chart
20Bearishfull bear SMA stack · SMA20 -7.6% / mo · MACD + · near 52W low · sector -5.5pp vs Nifty 500 (3M)
Stock trend: 24
Sector RS: 14
Sector 3M: -11.5% vs Nifty 500 -6.0%
FMCG FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
GODFRYPHLPD candles · FIT view-16.7%TODAY · PROVISIONALLatest price ₹1762.00 on 2026-10-21
Today's candle is provisional from the latest intraday quote; completed-candle scans remain unchanged.
Bar
-2.5%
RSI
35
MACD hist
-0.01
52W pos
0%
2026-10-21O ₹1807.50H ₹1818.00L ₹1760.10C ₹1762.00Vol 68,585 shIntraday candle
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
GODFRYPHLPNifty FMCGNifty 500
- GODFRYPHLP
- -15.3%
- Nifty 500
- -5.6%
- Nifty FMCG
- -10.5%
- Vs Nifty 500
- -9.7 pp
Chart stats
19 Oct 2026- From 52W high
- -47.9%
- 52W range position
- 2%
- ATR (14)
- 2.9%
- Volume vs 20D
- 0.59x
- Avg traded value
- ₹31.3 Cr
- 20D price channel
- ₹1,770 - ₹2,019.1
₹3,467.7
₹1,770 - ₹3,467.7
₹52.3
Latest completed session
20-session average
33.8% annualized volatility
Research snapshot
What the evidence says now
Strong fundamentals, management evidence is still limited to a financial-only Trust Lite signal, but price trend argues for patience. Suitable for staggered entry or watchlist confirmation rather than aggressive buying.
Strong U-Score but weak trend: timing is not confirming the thesis.
Suggested next step
Add to watchlist
Fundamental setup is interesting, but technical confirmation is weak.
U-Score
Legacy · DEEP VALUE77
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad0
Revenue -18.8% · PAT -44.4% YoY
Technical
Bearish20
Price trend and sector-relative-strength timing.
Valuation
Legacy model+55.4%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence83
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Bad · 0/100Rev -19% YoY · PAT -44% YoY · margin compression
Filed 27 Jul 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹1,206 Cr | -18.8% | -32.5% |
| EBITDA | ₹181 Cr | -46.4% | -67.3% |
| Operating margin | 15.0% | -800 bps | -1600 bps |
| PAT | ₹198 Cr | -44.4% | -62.0% |
| PAT margin | 16.4% | -754 bps | -1274 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 20.60
- P/B
- 4.54
- EV/EBITDA
- 18.27
- Market Cap
- 28194.00Cr
Profitability
- ROE
- 23.40%
- ROCE
- 30.20%
- ROA
- 16.46%
- Dividend Y
- 2.79%
Growth (CAGR)
- Revenue 5Y
- 20.00%
- EPS 5Y
- 34.00%
- Revenue 3Y
- 22.00%
- EPS 3Y
- 32.00%
Balance Sheet
- Debt/Equity
- 0.04
- Interest Coverage
- 129.91×
- Altman Z
- 8.61
- Book Value
- 398.00
Cash Flow
- FCF Yield
- 1.93%
- FCF Positive Y
- 12/5
- OCF
- 518.00 Cr
- EPS TTM
- 87.72
Shareholding
- Promoter Hold
- 72.58%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 2%
Financial History
Updated 19/10/2026
Revenue
₹ CrLatest: 6,391+13.9% vs prev
Net Profit
₹ CrLatest: 1,526+42.4% vs prev
Return on Equity
%Latest: 4,923+28321.4% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term trend down. RSI 35.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~8.5% over last month) — short-term momentum negative.
- RSI(14) at 35 — falling, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- Within 5% of 52-week low — testing support.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
5
RS percentile
Stage 4 Downtrend
1M return
-10.4%
3M return
-15.3%
6M return
-16.5%
1Y return
-42.4%
RS 1D
-2
RS 20D
0
Sector rank
#15
Industry rank
#26
Stage evidence
- Price is 14.6% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -1.3%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
lagging
Industry
lagging
Relative-strength line vs Nifty 500 (base 100)
261 observations
19 Oct 2026Value 53.1-1.37%
RS vs Nifty 50053
Valuation & peers
U-Score 77 · legacy U-Score band DEEP VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 77 · legacy U-Score band DEEP VALUE · valuation evidence and comparable companies
Top Setup
Fundamental score breakdown
U band · DEEP VALUEValuation13/30
Growth23/25
Quality17/20
Balance Sheet12/15
Cash Flow6/10
Piotroski
8/9 (+5)
Penalties
1
Raw sum
77
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
77/100 · legacy band DEEP VALUE
Positive drivers
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 55.4%.
- Growth contributes 23/25 to the score.
Main drags
- Valuation is weaker at 13/30; verify the latest quarterly trend.
- Cash flow is weaker at 6/10; verify the latest quarterly trend.
- Balance sheet is weaker at 12/15; verify the latest quarterly trend.
Sector valuation model
Consumer valuation: PE/PEG and brand-quality premium
Consumer franchises can deserve higher multiples, but only when growth quality supports them.
Primary lens
PE and PEG relative to growth, ROE, margins, and brand strength.
Secondary checks
Volume growth, pricing power, distribution, same-store or category growth.
Main risk check
Premium valuation needs durable growth and margin resilience.
PE
20.6
PB
4.5
EV/EBITDA
18.3
ROE
23.4%
ROCE
30.2%
FCF Yield
1.9%
Debt/Equity
0.0
MoS
+55.4%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
77
Previous: 77
Legacy U-Score band
DEEP VALUE
Previous: DEEP VALUE
Margin of safety
+55.4%
Previous: +54.2%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
78
78
78
78
78
78
78
78
78
78
77
77
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹886.3
-98.8% MoS
Growth-justified P/E
45.0
Growth-justified Value
₹3,947.4
+55.4% MoS
PEG
0.62
Comparable companies
Peers
Business-comparable peers in FMCG — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
GOLDENTOBC
Small
Golden Tobacco Limited
Consumer Goods
match 127
43
7.8
—
+83%
WATCHLIST
GILLETTE
Large
Gillette India Limited
Consumer Goods
match 124
69
35.2
66.5%
+21%
UNDERVALUED
EMAMILTD
Large
Emami Limited
Consumer Goods
match 121
62
21.8
26.2%
+50%
UNDERVALUED
DOMS
Large
DOMS Industries Limited
Consumer Goods
match 119
54
58.4
20.7%
-29%
FAIR VALUE
CUPID
Micro
Cupid Limited
Consumer Goods
match 117
55
346.0
27.6%
-633%
FAIR VALUE
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis under stressReviewed 2026-06-14T07:38:57.017Z
Management commentary snapshot
Godfrey Phillips India reported consolidated Gross Sales Value of Rs. 18,379 Crores for FY26, up 27% YoY, and Net Profit of Rs. 1,525 Crores, up 32% YoY. Domestic cigarette sales volume grew 20% in FY26. Q4 FY26 Gross Sales Value increased 39.9% YoY and Net Profit 77.1% YoY.
While FY26 saw robust growth in sales and profit, the steep increase in Q4 FY26 taxation poses a significant challenge for the upcoming year. Management plans balanced price increases and operational efficiencies to mitigate impact, but execution risk remains high in a price-sensitive market.
Current business mix
Net Sales by Product Portfolio (FY26)
Latest issuer-disclosed distribution across 3 reported categories.
Domestic77.0%
International22.0%
Confectionary & Ferrero Food products1.0%
Growth engines
Domestic Cigarette Volume Growth
Robust domestic cigarette sales volume growth of 20% in FY26.
New Market Expansion & Differentiated Offerings
Initiatives to expand into new markets with differentiated offerings are progressing well.
Unmanufactured Tobacco Exports
Dedicated to accelerating growth in this segment by leveraging crop development expertise and customer relationships.
Ferrero Food Products Distribution
Partnership witnessed strong momentum, delivering more than 2X revenue growth from Rs 22 crore in FY25 to Rs 51 crore in FY26.
Tailwinds
Strong Distribution Infrastructure
Leverage distribution infrastructure to drive throughput and profitability, prioritizing asset utilization.
Partnership with Philip Morris International
Strengthen partnership with Philip Morris International in the manufacture and distribution of Marlboro brand cigarettes in India.
ESG & Sustainability Progress
CSR initiatives contributing to ESG goals and high ESG ratings, enhancing stakeholder trust.
Headwinds
Steep Increase in Taxation
Steep increase in taxation in Q4 FY26 will make the next year challenging.
Risk radar
Taxation Impact on Demand
Steep increase in taxation in Q4 FY26 could moderate demand, requiring balanced price increases to manage consumer impact.
Operational Efficiency
Need to enhance operational efficiency to drive profitability amidst challenges from increased taxation.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
The presentation provides both annual (FY26 vs FY25) and quarterly (Q4 FY26 vs Q4 FY25 and Q3 FY26) financial results and volumes. Annual comparison shows overall business trajectory, while quarterly data highlights recent momentum and the impact of Q4 tax changes.
Sector KPIs management disclosed
Domestic Cigarette Volume Growth
Robust domestic cigarette sales volume growth of 20% in FY26 compared to previous year.
Gross Profit Margin (FY26)
15.5% of Gross Sales Value for FY26.
Direct Outlet Coverage Growth
Direct coverage grew by 21% in FY26, reflecting the effectiveness of focused market strategy.
Unmanufactured Tobacco Exports
Reached Rs 1,945 Crores in FY26, contributing 21% of net sales revenue.
Management forward view
Mitigating Tax Impact
Confidently responding through balanced price increase to ensure consumer impact is phased and not in one go.
Brand & Portfolio Enhancement
Working on brand strengthening, portfolio enhancement, innovations, superior market execution and operational efficiencies.
Focus on International Business
Build on export markets to enhance sale of unmanufactured tobacco.
Distribution Infrastructure Utilization
Leverage distribution infrastructure to drive throughput and profitability, prioritizing asset utilization.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Domestic Cigarette Volume Growth | 20% (FY26) | Impact of price increases and tax changes on future volume trends. |
| Gross Profit Margin | 15.5% (FY26) | Ability to protect margins through pricing and mix optimization amidst tax increases. |
| Unmanufactured Tobacco Exports | Rs 1,945 Cr (FY26) | Continued acceleration of growth in this segment. |
| Ferrero Distribution Revenue | Rs 51 Cr (FY26) | Sustained momentum and growth in this partnership. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
83Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 95th percentile of the scored universe and 82nd percentile within FMCG. Main check: results consistency is weak at 50/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 21 Oct 2026
management-trust-v1
71 docs text-extracted · 0 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
95th percentile
overall median 67 · FMCG: 82nd pctile, median 79 · Mid: 83rd pctile, median 76
Evidence depth
Financial-only
71 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Can support position sizing if valuation and trend also agree.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
96
strong · leverage and solvency
Discipline
98
strong · capital discipline
Results
50
watch · quarterly consistency
Trust positives
- ▸Promoter holding is 72.6%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 1.9%.
- ▸12 years of positive FCF.
Trust risks
- ▸1 of the latest 4 quarters had PAT decline worse than 25% YoY.
- ▸OPM spread across recent quarters is 16%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Godfrey Phillips India Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Annual reportAug 2026
Aug 2026 · Announcement Under Regulation 30 31 Jul - 89th AGM on 24 August 2026; annual report 2025-26 shared with shareholders and email update requested.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 22 Aug - Newspaper Publication regarding Loss of Share certificates.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 7 Aug - Newspaper Publication regarding Loss of Share certificates.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 1 Aug - Intimation under Regulation 30 regarding Newspaper publication of Notice of 89th Annual General Meeting
Source: Bse
Investor presentationJul 2026
Jul 2026 · PPT
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 9 Jul
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 9 Jul - Newspaper publication regarding special window for transfer and dematerialization of physical shares.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 17 Jun - Newspaper publication regarding loss of share certificates.
Source: Bse
Investor presentationMay 2026
May 2026 · PPT
Source: Bse
Investor presentationMay 2026
May 2026 · PPT
Source: Bse
Annual report
Annual Report 2026 from bse
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.