NewsVoir
New Delhi [India], May 30: Godfrey Phillips India Ltd. (GPIL), a leading FMCG company, announced its annual results for the fiscal year 2023-24. The Fortune 500 India and Economic Times 500 India Company's results reflect a continued trend of growth and solid financial performance, showcasing the company's resilience and strategic focus.
GPIL reported a solid financial performance for the fiscal year 2023-24, reflecting its strategic focus and operational effectiveness. The company achieved a notable increase in consolidated revenue, reaching Rs 5305 Cr driven by a strong market presence. Consolidated Net profit for the year rose to Rs 884Cr bolstered by sales growth, effective cost management and increasing unmanufactured tobacco export. Earnings per share increased to Rs 169.87, indicating robust profitability. The results highlight GPIL's ability to navigate and excel in a competitive market landscape. The Company has achieved high efficiency and productivity as its efforts in digital transformation and use of data science and AI are yielding good results. This performance sets a positive trajectory for continued growth in the first quarter of FY 24-25.
Commenting on the results, Dr. Bina Modi said, "To me, our financial success is validation of our people-centric policies. I have always maintained that companies grow when their people grow. Our focus remains on sustainable growth, ensuring that our practices benefit all stakeholders, from our dedicated employees to the farming communities at the grassroots level. We believe that true growth is achieved when we act conscientiously, considering the environment and the broader community in every decision we make. I'm extremely proud to share that with our continued efforts towards betterment of our people and the planet, Godfrey Phillips India has once again been recognized as a Great Place To Work, making it sixth achievement in a row! This acknowledgment is a testament to our unwavering commitment to fostering a workplace culture that prioritizes the growth and well-being of our people. "
Sharad Aggarwal, CEO of Godfrey Phillips India Limited, added, "Our financial performance this year is a reflection of the strategic decisions we have made to drive growth and efficiency. We have been proactive in the use of new age technology and modern management practices. We have achieved significant milestones, including a consolidated revenue growth of 24.5%, and our consolidated net profit has increased by 28.1%. We expect thiBs positive trend to persist into Q1 of FY 24-25 as well. The entire OneGPI family believes in striving for excellence. Our success is the sum of the whole team's efforts."
As GPIL moves forward, the company remains dedicated to delivering optimal growth and benefits to every person associated with it. The leadership team is confident in maintaining the positive trajectory and achieving new milestones in the future.
Godfrey Phillips India Limited (GPI), the flagship company of Modi Enterprises - KK Modi Group, is one of the largest FMCG companies in India and is counted among India's Fortune 500. GPIL, a publicly listed company, is renowned as the maker of some of the most popular cigarette brands in the country like Four Square, Red and White, Cavanders, Focus, Tipper, North Pole, Stellar, I-gen and confectionary brand - Funda. It also manufactures and distributes iconic cigarette brand Marlboro under an arrangement with Philip Morris International and its Affiliates.
For more information: harmanjit@godfreyphillips.co.in | www.godfreyphillips.co.in
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