Interim Dividend of Rs. 35: Friday, 29th November Record Date; BUY/SELL At Current Levels?

One of the largest FMCG firms in India is Godfrey Phillips India Limited, a flagship company of Modi Enterprises, commonly referred to as the KK Modi Group. Four Square, Red & White, Cavanders, Stellar, Focus, Originals International, and more well-known cigarette brands are available from the firm. Through a partnership with Philip Morris, the firm also produces and distributes the well-known cigarette brand Marlboro in India. The company exports a wide range of products in both the tobacco and non-tobacco sectors.

Godfrey Phillips India Dividend

"Pursuant to the provisions of Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('SEBI Listing Regulations'), we wish to inform you that the Board of Directors of the Company, at its meeting held today i.e. on 19th November 2024, has declared an interim dividend of 1750% i.e. Rs. 35/- per equity share of Rs. 2/- each, for the financial year ending 31st March 2025. As already intimated to you vide our letter dated 14th November 2024, the record date for the purpose of determining the entitlement of the shareholders for the interim dividend has been fixed as Friday, 29th November 2024, and the dividend amount will be paid to those shareholders within 30 days from today," said the company in a stock exchange filing on 19th November 2024.

Godfrey Phillips India Financials

In the second quarter that ended on September 30, 2024, Godfrey Phillips India Ltd. reported a 23% increase in consolidated net profit to Rs 248.31 crore. According to a regulatory filing by Godfrey Phillips India Ltd (GPIL), the company reported a consolidated net profit of Rs 202.06 crore for the same quarter previous fiscal year. In the quarter under review, the consolidated total revenue from operations was Rs 1,651.42 crore, up from Rs 1,374.55 crore in Q2FY24. Compared to Rs 1,194.03 crore in Q2FY24, the total expense in Q2FY25 increased to Rs 1,415.89 crore. According to the corporation, revenue from cigarettes, tobacco, and associated products was Rs 1,610.06 crore in the second quarter of the current fiscal, up from Rs 1,258.48 crore during the same time in the previous fiscal year.

Godfrey Phillips India Share Price Target

Mandar Bhojane - Technical & Derivative Analyst at Choice International Limited said, "The daily chart of Godfrey Phillips India reflects a strong bearish sentiment, closing at Rs 5,626.20. The stock is trading below its 20-day EMA, 50-day EMA and 100-day EMA, indicating sustained selling pressure and weakening momentum. The 200-day EMA at Rs 4,929.41 emerges as the next critical support level. Recent price action suggests a downward trend, with no signs of immediate recovery. Moderate trading volumes further affirm cautious market sentiment, as traders await clearer direction."

"A breach of the Rs 5,887.16 level, corresponding to the 100-day EMA, confirms bearish dominance, increasing the likelihood of testing the Rs 4,929 support zone which indicates The 200-day EMA as the next critical support level. This breakdown below key technical levels indicates downward sentiment, with traders likely cautious of further losses. The sharp decline in price and volume suggests GODFRYPHLP may continue its downward trend in the near term, especially if broader market conditions remain unfavourable," the analyst further added.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.