Godfrey Phillips India (500163) Q3 24/25 earnings summary

Executive summary

• Consolidated gross sales value reached Rs 10,626 crore for 9M FY25, up 25% year-over-year; net profit before exceptional items at Rs 837 crore, also up 25% year-over-year.

• Unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2024, were approved and reviewed by the Board and Audit Committee on February 13, 2025.

• Statutory auditors conducted a limited review and found no material misstatements in the financial statements.

• Robust domestic cigarette volume growth and strong unmanufactured tobacco exports (Rs 1,411 crore) supported topline.

• Certified as 'Great Place To Work' for the sixth consecutive year; focus on sustainability and young leadership.

Financial highlights

• Standalone revenue from operations for Q3 FY25 was ₹189,675 lakhs, up from ₹148,211 lakhs in Q3 FY24; nine-month revenue was ₹498,001 lakhs, up from ₹409,970 lakhs year-over-year.

• Standalone net profit for Q3 FY25 was ₹33,233 lakhs, compared to ₹24,555 lakhs in Q3 FY24; nine-month net profit was ₹80,247 lakhs, up from ₹70,242 lakhs year-over-year.

• Gross profit for 9M FY25 at Rs 1,755 crore; gross profit margin at 16.5%.

• Q3 FY25 gross sales value at Rs 3,958 crore, up 29.2% year-over-year; net revenue at Rs 1,592 crore, up 27.4% year-over-year.

• Interim dividend of Rs 35 per share (₹35 per equity share) declared and paid for FY25.

Outlook and guidance

• Plans to enter new markets and launch new offerings underway.

• Focus on sustaining growth momentum, strengthening core business, and expanding international presence.

• Strategic partnership with Philip Morris International to continue for Marlboro brand in India.

• The company is in the process of closing its Retail Business Division (24Seven), with management reassessing the exceptional loss and closure costs as reasonable.