GODFRYPHLP · Fast Moving Consumer Goods
Godfrey Phillips India Ltd. reported revenue of ₹875 cr for January to March 2024, — on the year and −30.0% on the quarter.
Operating profit (EBITDA) was ₹191 cr, a margin of 21.8%, — on the year and +359 bps on the quarter.
Net profit was ₹215 cr, — on the year and +1.4% on the quarter, with earnings per share of ₹13.73.
On earnings per share of ₹56.60 over the last four quarters, the stock at ₹1,852.00 trades at 32.7 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.
Other income is carrying a large and rising share of profit. Treasury gains, interest, or one-off?
Other income was 42% of profit before tax.
Source: Quarterly statements
Could not run on this quarter: Headline vs core profit, Exceptional items that recur, Operating margin on the year, Depreciation falling, Finance cost rising, Swing to loss or profit, 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).
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 ₹875 cr (— on the year) and net profit of ₹215 cr (— on the year) for January to March 2024.
1 check raised a question: Other income is carrying a large and rising share of profit. Treasury gains, interest, or one-off?
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