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Swing Capital

Godfrey Phillips India Ltd

NSE: GODFRYPHLP BSE: 500163FMCG

Gndia is one of the leading FMCG Companies in India - flagship company distribute the renowned Marlboro brand in India. [1]

₹2,312
52W: ₹1832 — ₹3947
PE 23.9 · Book ₹344 · +572% vs book
Market Cap₹36,055 Cr
Stock P/E23.9Price to Earnings
ROCE38%Return on Capital
ROE30.8%Return on Equity
Div. Yield1.33%Face Value ₹2

Strengths

  • +Company is almost debt free.
  • +Company has delivered good profit growth of 39.4% CAGR over last 5 years
  • +Company has a good return on equity (ROE) track record: 3 Years ROE 25.2%
  • +Company has been maintaining a healthy dividend payout of 44.0%

Weaknesses

  • −Debtor days have increased from 33.8 to 51.8 days.
  • −Working capital days have increased from 92.5 days to 141 days

Shareholding Pattern

Promoters72.58%
FIIs7.91%
DIIs3.28%
Public16.2%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters72.58%72.58%72.58%72.58%72.58%72.58%72.58%72.58%
FIIs10.83%10.8%▼0.010.63%▼0.29.72%▼0.99.32%▼0.47.94%▼1.48.15%▲0.27.91%▼0.2
DIIs1.9%1.97%▲0.11.99%▲0.03.29%▲1.33.85%▲0.64.12%▲0.34.21%▲0.13.28%▼0.9
Public14.24%14.19%▼0.114.43%▲0.214.36%▼0.114.21%▼0.115.33%▲1.115.03%▼0.316.2%▲1.2

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales1,2448531,0821,3581,5901,5721,4801,2901,8271,793
Expenses1,0256768241,0861,2291,3031,1529801,4521,221
Operating Profit219177258271361270328310374572
OPM %18%21%24%20%23%17%22%24%20%32%
Net Profit246178223247332241365304354484
EPS ₹15.7411.4414.3115.8221.315.4323.419.5222.6731.06

AI Insights

Revenue Trend

Mar 2026 revenue at ₹6,389Cr, up 14% YoY. OPM at 25%.

Debt Position

Borrowings at ₹232Cr. Debt-to-equity ratio: 0.04x. Healthy balance sheet.

Capex Cycle

CWIP at ₹167Cr (22% of fixed assets). Significant capex underway — growth runway building.

Institutional Flow

DIIs: 3.28% (+1.79pp change). FIIs: 7.91% (-2.14pp change). Promoters hold 72.58%.

Margin & Efficiency

ROCE improving from 18% (Mar 2015) to 38% (Mar 2026). Working capital days: 141.

Valuation

PE 23.9x with 38% ROCE. Price is 572% above book value of ₹344. Dividend yield: 1.33%.

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