Rs 56 Dividend: 23rd August Record Date; A Promising Opportunity For Investors?

One of the largest FMCG businesses in India is Godfrey Phillips India Limited, the flagship company of Modi Enterprises, the KK Modi Group. Among the well-known brands of cigarettes produced by the firm are Four Square, Red & White, Cavanders, Stellar, Focus, Originals International, and others. Additionally, it has an agreement with Philip Morris to produce and market the popular worldwide cigarette brand Marlboro in India.

Godfrey Phillips India Dividend

"We wish to inform you that the Board of Directors of the Company ("Board"), at its meeting held on May 30, 2024, has recommended a dividend of Rs. 56/- per equity share of the Company of face value of Rs. 2/- each, for the financial year ended March 31, 2024, subject to the approval of the Shareholders of the Company at its ensuing Annual General Meeting. The dividend, as recommended by the Board and if approved at the ensuing Annual General Meeting to be held on 6th September 2024 will be paid to the Shareholders holding equity Shares of the Company, either in electronic or in physical form as on the record date, i.e. 23rd August 2024," said the company in a stock exchange filing.

Godfrey Phillips India Q1 Results

For the first quarter that ended in June 2024, Godfrey Phillips India Ltd., the manufacturer of cigarettes, reported a 10.17% drop in its consolidated net profit to Rs 228.55 crore. According to an exchange filing, the company reported a net profit of Rs 254.44 crore for the April-June quarter of last year. However, during Q1FY25, its revenue from operations climbed by 15.7% to Rs 1,440.81 crore. It stood at Rs 1,245.39 crore at the same time last fiscal year. Godfrey Phillips' overall expenses grew 17.41% to Rs 1,216.52 crore in Q1FY25. Godfrey Phillips India said that revenue from cigarettes, tobacco, and related products increased by 18.55 per cent to Rs 1,338.40 crore in the first quarter of FY25.

Godfrey Phillips India Share Price Target

Hardik Matalia - Derivative Analyst at Choice Broking said, "GODFRYPHLP is currently trading around the 4391 level and appears to be in a consolidation phase. After achieving an all-time high, the stock has been stabilizing near its demand zone. Recently, GODFRYPHLP formed a double bottom pattern on the daily chart, indicating a potential trend reversal and a subsequent bounce was observed. If the stock manages to sustain above the 4600 level, it could likely continue its upward trajectory toward new highs."

"The Relative Strength Index (RSI) is around 56, suggesting that the stock might experience a period of time-wise correction or continue trading in a sideways trend. GODFRYPHLP has also seen a bounce from its key moving averages, including the short-term (20-day) and medium-term (50-day) EMA levels, which confirms the strength of the current uptrend. Given the technical setup, it is recommended to buy GODFRYPHLP once it breaks above the resistance at 4600. This situation presents a promising opportunity for investors and traders looking to capitalize on potential bullish momentum," he 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.