Godfrey Phillips Hits Record High of ₹8,989, Rises 63% Year-to-Date

Godfrey Phillips India has seen a steep rise in its stock price in 2025. By May 6th, the share price had reached ₹8,989, marking a 63% increase since the beginning of the year. This movement signals a notable shift in how the market values the company. The rise sets a new record for the stock, reflecting a reassessment of the company’s prospects or current performance. It stands out as a sharp gain over a relatively short span.

Outperforming the Market and Sector Peers

While Godfrey Phillips India was scaling new heights, the broader market, represented by the Nifty 50, saw a much more modest increase of just 1% in the same period. More strikingly, some of its main competitors in the tobacco sector, like ITC and VST Industries, experienced declines in their stock values, falling by 12.5% and 20%, respectively. This makes Godfrey Phillips India’s performance even more noteworthy – it wasn’t just riding a general wave of market optimism. 

The stark contrast between Godfrey Phillips India’s 63% gain and the minimal 1% rise of the Nifty 50 strongly suggests that the company’s success is rooted in specific factors unique to its operations or the industry dynamics it navigates. Furthermore, the fact that key competitors like ITC and VST Industries witnessed negative stock performance during the same timeframe underscores the nature of Godfrey Phillips India’s upward trajectory. Source: Economic Times

Q3 FY25 Financial Results Show Growth

One of the primary drivers for this stock performance appears to be the company’s financial results for the third quarter of the fiscal year 2025, which ended in December 2024. Godfrey Phillips India reported a substantial 28% increase in its revenues, reaching ₹1,896.75 crore compared to the previous year. The company’s net profit soared 87% to ₹332 crore. This significant revenue and net profit jump indicates a marked improvement in the company’s operational efficiency and market traction. 

Key Financial Metrics for Q3 FY25:

• Revenue: ₹1,591.2 crore (up 27.3% YoY)
• Net Profit: ₹315.84 crore (up 48.7% YoY)
• Earnings Per Share (EPS): ₹61.00 (up 49.1% YoY)
• EBITDA: ₹358.8 crore (up 57.6% YoY)
• EBITDA Margin: 22.6% (up 440 basis points YoY)

Investors often view such financial performance as a strong indicator of a company’s underlying health and future potential, which can lead to increased demand for its stock. The specific figures of ₹1,896.75 crore in revenue and ₹332 crore in net profit provide evidence of this financial growth.

While some sources might present slightly different figures due to variations in reporting standards or the inclusion/exclusion of specific items like excise duty, the overarching theme across available information points to a strong and profitable quarter for Godfrey Phillips India. Source: Business Standard

Increase in Mutual Fund Holdings

According to publicly available shareholding data, mutual fund holdings in Godfrey Phillips India increased from 1.8% in December 2024 to 3% by March 2025. This rise in institutional investment reflects a change in portfolio allocation during that period. Over a longer timeframe, from June 2024 to March 2025, mutual fund ownership in the company has shown a steady upward trend.

Business Overview and Brand Portfolio

Godfrey Phillips India is a key player in India’s fast-moving consumer goods (FMCG) sector. It operates under the umbrella of Modi Enterprises and boasts a portfolio of well-known cigarette brands, including Four Square, Red and White, Cavanders, Tipper, and North Pole. Additionally, the company has a significant agreement with Philip Morris to manufacture and distribute the globally recognized Marlboro brand within India. This strong brand presence in the market provides a solid foundation for its business. 

Godfrey Phillips India owns and markets several established cigarette brands such as Four Square, Red and White, Cavanders, Tipper, and North Pole. The company also manufactures and distributes Marlboro in India under a licensing agreement with Philip Morris. This partnership allows the company to operate with a globally recognized brand alongside its domestic portfolio.

Revenue Growth vs. Competitors

When we compare Godfrey Phillips India to its peers, the difference in performance becomes even clearer. While Godfrey Phillips India is smaller than ITC—its revenue is about 21% of ITC’s cigarettes business—it demonstrated much stronger quarterly revenue growth of nearly 15% in December 2024. In contrast, ITC’s quarterly revenue growth in cigarettes manufacturing was almost flat at just 0.8%. 

Even when compared to VST Industries, which is smaller than Godfrey Phillips with a revenue size of about 25%, Godfrey Phillips India showed stronger momentum. Although VST Industries reported a 2% rise in revenue in December 2024, its numbers fell by 4% every quarter in March 2025. This indicates that Godfrey Phillips India has been outperforming its main competitors in growth. 

Despite ITC’s dominant market share in the Indian cigarette market, Godfrey Phillips India’s revenue growth suggests it might effectively capture market opportunities or operate with greater agility. The contrasting performance with VST Industries further emphasizes Godfrey Phillips India’s strong position within the competitive landscape. Source: TobaccoTactics.org

Management and Governance

Following the passing of founder KK Modi in 2019, Godfrey Phillips India experienced internal disputes regarding ownership. These issues were addressed when Bina Modi assumed leadership, maintaining control over the company. In August 2024, Samir Modi was removed from the board, and Charu Modi was appointed executive director. Subsequently, in September, shareholders approved the re-appointment of Bina Modi as the managing director with 86.6% of the votes.

Bina Modi has publicly stated her commitment to preserving her husband’s legacy and has ruled out the possibility of selling the company to resolve family disputes. Source: Economic Times

Conclusion

Godfrey Phillips India’s stock performance in 2025, along with its financial results and institutional investment changes, provides insights into the company’s operations and market position. The company’s activities in the FMCG sector, particularly in tobacco products, and its management decisions have been notable during this period.

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