Godfrey Phillips India

Bina Modi speaks to Business Standard about expansion plans of GPI, exit from the retail business, the inheritance battle with her son, and the legacy of KK Modi

Cigarette maker Godfrey Phillips India Ltd Chairperson, Bina Modi on Friday defended the company's decision to close its retail business '24Seven', the brainchild of her estranged son Samir Modi, saying it was done with a view to focus on its core business. At the annual general meeting of the company held on Friday, the special business of not filling up the vacancy 'for the time being' caused by retirement by rotation of Samir Modi was taken up along with the appointment of his sister Charu Modi as an executive director, among others for shareholders' approval. In her address to the shareholders, Bina Modi said, "this focus on our core business is in consonance with the 'Theory of Core Competency' propagated by the late global management guru Professor CK Prahalad. This strategy has also led us to the closure of our retail business 24Seven. At times we need to bite the bullet in the long-term interest of the company and shareholders." In July this year, Godfrey Phillips India (GPI

Godfrey Phillips share price today surged up 11 per cent at Rs 6,779 per share on the BSE in Friday's intraday deals

Indian benchmark indices were likley headed for a slow start on Friday, weighed down by global cues as investors awaited crucial jobs and payroll data in the US

The fall in Godfrey Phillips shares price came after media reports indicated that the company has finalised the sale of its retail business 24Seven.

Samir says that his removal as director, despite having a tenure until September 2026, will require 51 per cent of the shareholders agreeing at the AGM

The firm's NRC cites breaches of fiduciary duties due to conduct both in and outside board meetings

Samir Modi says he would be willing to sell Godfrey Phillips if it could end the family feud arisen since the death of KK Modi in 2019

BSE analytics reflect that the company's shares have sprinted 164.57 per cent year-to-date, while in the last six months they have yielded a return of 107.94 per cent

Grocery convenience retail startup is in talks with Godfrey Phillips India to acquire its 24Seven retail stores

Cigarette maker Godfrey Phillips India Ltd on Wednesday reported a 10.17 per cent decline in its consolidated net profit to Rs 228.55 crore for the first quarter ended in June 2024. The company had posted a net profit of Rs 254.44 crore during the April-June period a year ago, according to an exchange filing. However, its revenue from operations was up 15.7 per cent to Rs 1,440.81 crore during the quarter under review. It was at Rs 1,245.39 crore in the corresponding period of the previous fiscal. Total expenses of Godfrey Phillips in the June quarter increased 17.41 per cent at Rs 1,216.52 crore. Revenue from cigarettes, tobacco and related products was up 18.55 per cent to Rs 1,338.40 crore in Q1 of FY25, Godfrey Phillips India, the flagship company of Modi Enterprises, said. Revenue from retail and related products was down 15 per cent to Rs 96.01 crore from Rs 112.95 crore a year ago. Godfrey Phillips operates the convenience store chain 24Seven. Earlier, in April this year,

Samir Modi had filed an FIR with the Delhi Police in June, accusing his mother, her personal security officer, and Godfrey Phillips directors of causing him 'grievous hurt'

One member of each branch will have a permanent position in all the companies till they have been sold. My father wanted equality and fairness among the four of us, Samir said

Godfrey Phillips family inheritance feud: Samir Modi has accused his mother, Bina Modi, her personal security officer, and others of causing him 'grievous hurt'

Cigarette maker Godfrey Phillips India Ltd on Thursday reported an increase of 46.25 per cent in its consolidated net profit to Rs 215.12 crore for the fourth quarter ended March 2024. The company had posted a net profit of Rs 147.09 crore during the January-March period of the previous fiscal, according to a regulatory filing from Godfrey Phillips India. Its revenue from operations increased 22.86 per cent to Rs 1,197.13 crore during the quarter under review, up from Rs 974.40 crore in the corresponding period of the previous fiscal. Total expenses of Godfrey Phillips in the March quarter were up 21.13 per cent at Rs 1,052.66 crore. Its revenue from cigarettes, tobacco and related products was up 22.81 per cent to Rs 1,073.56 crore in Q4 of FY24. Revenue from retail and related products remained flat at Rs 101.42 crore, compared to Rs 100.98 crore a year ago. Godfrey Phillips operates the convenience store chain 24Seven. Total income of Godfrey Phillips India was up 24.06 per c

Low margins and escalating real estate prices are primary drivers for exiting the 24Seven business

Godfrey Phillips India had on April 12 announced its plan to sell the loss-making 24Seven convenience store chain after a review of its retail business division

Cigarette maker Godfrey Phillips India on Friday said it has decided to exit from its loss-making retail business 24Seven. The board of the company in a meeting held on Friday "decided to exit from carrying out the business operations of its Retail Business Division," said a regulatory update from Godfrey Phillips India. Godfrey Phillips India was operating 150 stores/kiosks of 24Seven as of December 2023. A decision in this regard was taken following a detailed review of the company's retail business division and after due consideration of the stakeholders' feedback, long-term performance, prevailing market conditions of the retail sector and long-term business strategy of the company, it added. "The exit will be subject to completion of the necessary formalities," it said. Revenue of 24Seven in FY23 was Rs 396 crore, contributing 9.3 per cent of the total revenue from operations for the company. "The Retail Business Division had a negative net worth as on 31st March 2023 on acc

Godfrey Phillips has been one of the key outperformers among SmallCaps thus far in 2024; presently the stock is seen testing support at its trend line, shows daily chart.

The company reported a consolidated net profit of 2.12 billion rupees (~$26 mln) for the quarter ended Dec. 31, up 6.6% from last year