GODFRYPHLP · Fast Moving Consumer Goods
Godfrey Phillips India Ltd. reported revenue of ₹1,289 cr for July to September 2025, −5.2% on the year and −13.3% on the quarter. Over the last four quarters revenue comes to ₹5,937 cr, +29.8% on the four before.
Operating profit (EBITDA) was ₹314 cr, a margin of 24.4%, +399 bps on the year and +161 bps on the quarter. Over the last 8 quarters the margin has ranged from 17.1% to 24.8%, averaging 21.5%. Operating costs grew −10.0% against revenue growth of −5.2%, so more of each rupee of sales reached operating profit.
Net profit was ₹305 cr, +23.0% on the year and −14.3% on the quarter, with earnings per share of ₹19.56. Profit before other income, one-offs and tax grew 14.2%, so 9 points of the headline growth came from outside the core business. The tax rate of 20% is in line with its recent average. Profit over the last four quarters totals ₹1,257 cr, +39.0% on the four before.
On earnings per share of ₹80.55 over the last four quarters, the stock at ₹1,852.00 trades at 23.0 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow filed with this quarter, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Margin rose sharply on flat revenue. Which cost fell, and will it stay down?
EBITDA margin 24.4%, +399 bps on the year (+161 bps on the quarter).
Source: Quarterly statements
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹1,158 cr | ₹1,250 cr | ₹875 cr | ₹1,088 cr | ₹1,360 cr | ₹1,589 cr | ₹1,573 cr | ₹1,486 cr | ₹1,289 cr | ₹1,829 cr | ₹1,787 cr | ₹1,206 cr |
| YoY | — | — | — | +4% | +17% | +27% | +80% | +37% | −5% | +15% | +14% | −19% |
| EBITDA margin | 19.3% | 18.2% | 21.8% | 24.8% | 20.4% | 22.7% | 17.1% | 22.7% | 24.4% | 20.8% | 30.9% | 15.0% |
| Other income, % of PBT | 17% | 32% | 42% | 14% | 28% | 19% | 38% | 31% | 26% | 21% | 23% | 43% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 25% | 22% | 21% | 18% | 27% | 23% | 22% | 20% | 20% | 22% | 22% | 21% |
| Net profit | ₹202 cr | ₹212 cr | ₹215 cr | ₹229 cr | ₹248 cr | ₹316 cr | ₹280 cr | ₹356 cr | ₹305 cr | ₹343 cr | ₹521 cr | ₹198 cr |
| YoY | — | — | — | −10% | +23% | +49% | +30% | +55% | +23% | +9% | +86% | −44% |
| Core profit YoY | — | — | — | +15% | +36% | +79% | +40% | +28% | +14% | +5% | +132% | −53% |
| EPS | ₹12.95 | ₹13.61 | ₹13.73 | ₹14.65 | ₹15.92 | ₹20.25 | ₹17.90 | ₹22.84 | ₹19.56 | ₹22.01 | ₹33.43 | ₹12.72 |
| Flags | · | 1 | 1 | 1 | 1 | 1 | 1 | 2 | ✓ | ✓ | 1 | 2 |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Godfrey Phillips India Ltd. reported revenue of ₹1,289 cr (−5.2% on the year) and net profit of ₹305 cr (+23.0% on the year) for July to September 2025.
Profit before other income, exceptional items and tax moved +14.2% on the year, against +23.0% for reported profit.
None of the 7 checks that could run raised a question.
No. FinMinutes reports what was filed and the questions the numbers raise. It does not recommend buying, selling or holding any security.
Numbers as filed with the exchanges, read by rules. Every flag is a question with its source, not an accusation. FinMinutes is a financial data and analytics platform; nothing here is a recommendation to buy, sell or hold any security. How each check works.