Godfrey Phillips India Ltd

Godfrey Phillips India Ltd

₹ 4,384 1.38%
25 Jun 11:54 a.m.
About

Godfrey Phillips India is one of the leading FMCG Companies in India - flagship company of KK Modi Group. They have many iconic cigarette brands like Four Square, Red & White, and Cavanders to its name. It also have an exclusive sourcing and supply agreement with Philip Morris International to manufacture and distribute the renowned Marlboro brand in India. [1]

Key Points

Revenue Breakup FY23[1]
Tobacco: 90% (Domestic:67% , Export:23%)
Consumer & Retail: 10%

  • Market Cap 22,794 Cr.
  • Current Price 4,384
  • High / Low 4,444 / 1,605
  • Stock P/E 25.8
  • Book Value 814
  • Dividend Yield 0.99 %
  • ROCE 22.6 %
  • ROE 22.7 %
  • Face Value 2.00

Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 32.7% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 33.1%

Cons

  • Working capital days have increased from 50.1 days to 71.0 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Tobacco Products Industry: Cigarettes

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
706 611 646 706 724 828 1,019 920 796 1,046 1,158 1,250 966
549 464 498 531 561 626 779 710 644 794 934 1,022 778
Operating Profit 157 147 147 175 164 201 241 210 152 253 224 228 188
OPM % 22% 24% 23% 25% 23% 24% 24% 23% 19% 24% 19% 18% 19%
18 28 35 27 25 2 43 79 44 53 38 57 66
Interest 9 7 8 8 11 6 7 7 9 7 7 6 7
Depreciation 39 35 36 37 37 38 39 39 37 37 36 36 36
Profit before tax 126 132 139 157 140 159 238 243 149 262 219 243 211
Tax % 24% 15% 24% 26% 26% 17% 25% 23% 26% 16% 25% 25% 26%
95 112 105 117 104 142 202 199 147 254 202 212 215
EPS in Rs 18.32 21.61 20.18 22.51 19.95 27.37 38.82 38.32 28.29 48.94 38.87 40.84 41.19
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
2,096 2,477 2,586 2,331 2,403 2,326 2,497 2,877 2,525 2,688 3,562 4,420
1,769 2,111 2,219 2,006 2,149 2,065 2,094 2,284 1,984 2,054 2,759 3,527
Operating Profit 327 367 367 324 254 260 403 592 541 633 804 892
OPM % 16% 15% 14% 14% 11% 11% 16% 21% 21% 24% 23% 20%
29 12 32 37 47 73 79 107 119 114 252 214
Interest 27 29 19 10 4 2 1 30 31 34 29 26
Depreciation 93 91 108 107 98 98 99 155 141 145 154 146
Profit before tax 237 259 271 244 199 233 383 514 487 568 873 934
Tax % 28% 32% 33% 30% 31% 32% 32% 25% 23% 23% 21% 23%
170 175 183 170 137 159 260 385 376 438 690 884
EPS in Rs 32.70 33.76 35.26 32.63 26.39 30.60 50.07 74.02 72.41 84.25 132.80 169.84
Dividend Payout % 24% 24% 23% 25% 30% 26% 16% 32% 33% 33% 33% 33%
Compounded Sales Growth
10 Years: 6%
5 Years: 12%
3 Years: 21%
TTM: 24%
Compounded Profit Growth
10 Years: 17%
5 Years: 33%
3 Years: 42%
TTM: 50%
Stock Price CAGR
10 Years: 23%
5 Years: 39%
3 Years: 62%
1 Year: 166%
Return on Equity
10 Years: 15%
5 Years: 17%
3 Years: 19%
Last Year: 23%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 10 10 10 10 10 10 10 10 10 10 10 10
Reserves 1,047 1,174 1,302 1,566 1,650 1,783 2,028 2,177 2,572 2,917 3,538 4,222
Preference Capital 0 0 0 0 0 1 1 1 1 1 1
304 239 277 132 73 27 41 356 395 336 354 345
456 518 484 452 474 645 786 752 755 838 1,067 1,266
Total Liabilities 1,817 1,941 2,073 2,159 2,208 2,465 2,866 3,295 3,732 4,102 4,968 5,843
741 707 675 695 700 650 694 1,015 1,034 983 932 893
CWIP 16 46 65 49 13 18 14 17 26 42 22 10
Investments 286 327 273 410 507 924 1,232 1,251 1,554 1,844 2,669 3,000
773 862 1,060 1,006 987 872 925 1,012 1,118 1,234 1,346 1,940
Total Assets 1,817 1,941 2,073 2,159 2,208 2,465 2,866 3,295 3,732 4,102 4,968 5,843

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
191 296 63 319 245 516 362 375 310 479 736 290
-86 -140 -32 -119 -125 -405 -310 -72 -298 -234 -541 55
-106 -158 -31 -197 -125 -99 -43 -303 -16 -238 -206 -349
Net Cash Flow -1 -3 1 3 -4 12 9 0 -4 6 -11 -4

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 14 15 18 17 27 13 10 9 18 21 15 14
Inventory Days 246 216 248 257 187 179 218 199 222 247 190 215
Days Payable 72 55 49 42 45 52 99 74 70 75 75 70
Cash Conversion Cycle 188 176 217 231 169 140 130 134 170 192 131 160
Working Capital Days 37 32 64 83 77 34 15 27 49 51 28 71
ROCE % 18% 22% 18% 14% 12% 10% 16% 20% 15% 17% 22%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
72.83% 72.83% 72.83% 72.83% 72.83% 72.83% 72.58% 72.58% 72.58% 72.58% 72.58% 72.58%
10.26% 10.36% 10.16% 10.16% 10.28% 9.87% 9.89% 10.05% 10.05% 9.93% 10.13% 10.76%
1.67% 1.66% 1.64% 1.62% 1.61% 1.62% 1.61% 1.62% 1.49% 1.55% 1.55% 1.52%
0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05%
15.20% 15.10% 15.32% 15.35% 15.24% 15.62% 15.86% 15.69% 15.83% 15.88% 15.68% 14.67%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.41%
No. of Shareholders 37,84232,58030,61130,06729,94131,55340,73944,38644,56638,93641,64038,489

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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