Godfrey Phillips India Ltd News

Godfrey Phillips share skyrockets 10% on roping in Siddharth Chawla as COO

The uptick in Godfrey Phillips share came after the company announced on Thursday, December 26, that it has appointed Siddharth Chawla as its chief operating office (COO), effective January 7, 2025

ITC, Varun Beverages slip 5% on buzz of 35% GST on tobacco, aerated drinks

According to reports, the Group of Ministers (GoM) on GST rate rationalisation on Monday recommended a new slab of 35 per cent for tobacco, tobacco products and aerated drinks.

Godfrey Phillips India Q2 results: Net profit up 23% at Rs 248.31 crore

Cigarette maker Godfrey Phillips India Ltd on Monday reported a 23 per cent rise in consolidated net profit to Rs 248.31 crore in the second quarter ended September 30, 2024, fuelled by higher sales. The company posted a consolidated net profit of Rs 202.06 crore in the same quarter last fiscal, Godfrey Phillips India Ltd (GPIL) said in a regulatory filing. Consolidated total revenue from operations stood at Rs 1,651.42 crore in the quarter under review compared to Rs 1,374.55 crore in the year-ago period. Total expenses in the second quarter were higher at Rs 1,415.89 crore against Rs 1,194.03 crore a year ago. Revenue from cigarettes, tobacco and related products in the second quarter stood at Rs 1,610.06 crore compared to Rs 1,258.48 crore in the corresponding period last fiscal, the company said. On the other hand, revenue from retail and related products was lower at Rs 38.79 crore over Rs 117.26 crore in the same period last fiscal, it added. The company's board had on Apri

Retail business closure to focus on core cigarette biz: GPI Chairperson

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

Bina Modi reappointed as Godfrey Phillips India MD; Charu Modi named ED

Bina Modi's daughter Charu Modi has been appointed as the Executive Director of the company with 87% approval

Godfrey Phillips shares slip 5% on 24Seven retail business sale report

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

GPIL's Samir Modi pushes for personal votes over trustee block at AGM

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

Decided against Samir's reappointment due to conduct: Godfrey Phillips

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

Godfrey Phillips faces crisis over leadership dispute and board changes

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

Samir Modi case: Police asks Apollo to explain 2 discharge summary dates

According to the FIR, viewed by Business Standard, the surgery years have allegedly been mentioned as 2019 and 2024 in the two different discharge summaries

Glass Lewis opposes reappointment of Bina Modi as Godfrey Phillips MD

US-based proxy advisory firm Glass Lewis has advised the shareholders of Godfrey Phillips to vote "against" the special resolution seeking the reappointment of Bina Modi as Managing Director at the Annual General Meeting on September 6. Glass Lewis has backed Samir Modi's presence on the board. Godfrey Phillips India has scheduled its Annual General Meeting on September 6, 2024, in which it has put five ordinary resolutions and one special resolution for approval from its shareholders. As Bina Modi's remuneration exceeds the limits of Rs 5 crore or 2.5 per cent of the net profits of the company, Godfrey Phillips requires a special resolution, which has to be passed from a super majority of 75 per cent of the total votes polled. Opposing the special resolution, Glass Lewis observed there are "no defined performance conditions for the payment of commission" to Bina Modi and her "appointment is as combined chairman and managing director". "Given our concerns, we do not believe ...

Tobacco stock soars 26% in 1 week on 2800% dividend bounty; rises 8% today

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

24Seven may return under 'The New Shop' banner as acquisition talks begin

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

Godfrey Phillips Q1 results: Net profit down 10.1% to Rs 228.5 cr

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,

Bina Modi to recommend Samir's appointment to Godfrey Phillips Board: Court

Company's nomination and remuneration committee will decide on his appointment

Bina Modi withdraws contempt plea against sons Lalit and Samir Modi

Samir Modi, the executive director of Godfrey Phillips, had accused his mother of orchestrating an attack on him to gain leverage in the ongoing inheritance dispute

This KK Modi Group stock has zoomed 121% thus far in calendar year 2024

Shares of Godfrey Philips India, a flagship company of KK Modi Group, hit a record high of Rs 4,785.5 as they surged 17.8 per cent on the BSE on Monday