On Monday, the cigarette maker reported a 56% year-on-year (YoY) rise in consolidated net profit to Rs 356.28 crore for the June quarter, driven by higher sales. In the same quarter last year, profit stood at Rs 228.55 crore.
Revenue from operations rose to Rs 1,813.26 crore from Rs 1,358.81 crore a year ago. Total expenses increased to Rs 1,506.68 crore from Rs 1,118.49 crore in the corresponding period.
The company’s board approved a bonus share issue in a 2:1 ratio — two fully paid-up bonus shares of Rs 2 each for every one existing share — through capitalisation of general reserves and/or retained earnings. The issuance is subject to shareholder and regulatory approvals.
Godfrey Phillips share price target
According to Trendlyne, the average target price for Godfrey Phillips stands at Rs 1,787, indicating an upside potential of 11% from current levels. The stock holds a ‘Buy’ recommendation from 19 analysts.
At 10:19 am, shares of Godfrey Phillips were trading 5.2% higher at Rs 10,400. The stock is up 107% year-to-date and has gained nearly 420% over the past two years. Its current market capitalisation stands at Rs 54,106 crore.
Godfrey Phillips India is one of the leading FMCG Companies in India, the flagship company of KK Modi Group. They have many iconic cigarette brands like Four Square, Red & White, and Cavanders to their name.
It also has an exclusive sourcing and supply agreement with Philip Morris International to manufacture and distribute the renowned Marlboro brand in India.
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