Godfrey Phillips India : Financial Result Updates

GODFREY PHILLIPS

-INDIA LIMITID-

_	______	__	_
		_

Omaxe Square

Plot No.14, Jasola District Centre

Jasola, New Delhi-110025 India.

Tel.: [phone]

Fax: [phone] www.godfreyphillips.com

29th January, 2022
The Manager, Listing Department	The Manager
National Stock Exchange of India Ltd.	BSE Ltd.
Exchange Plaza, C-1,Block-G	25th Floor, Phiroze Jeejeebhoy Towers
Bandra-Kurla Complex	Dalal Streei, Mumbai - 400 001
Bandra (East), Mumbai - 400 051	F'ax r�o.: ()22-22721919, 3121
Fax No. : 022-26598237 / 38	BSE Scrip Code: 500163
NSE Symbol : GODFRYPHLP

Reg.: i. Unaudited Financial Results for the quarter and nine months ended 3!51 December, 2021 ii. Limited Review Report for the quarter aml nine months ended 3l51 December, 2021

Dear Sirs,

This is to inform you that the Board of Directors of the Company has, at its meeting held today, i.e. 29th January, 2022, inter-alia, considered and approved the Unaudited Standalone and Consolidated Financial Results for the quarter and nine months ended 31st D�cember, 2021. The same has also been reviewed by the Audit Committee in its meeting held today.

A copy of the Statement of Unaudited Standalone and Consolidated Financial Results for the quarter and nine months ended 31st December, 2021, approved by the Board pursuant to Regulation 3.3 of the Securities And Excl1ange Board of India (Listing Obligations and Disclosure Requireine11ts) Regulations, 2015, is enclosed for your reference and record. A copy thereof has also been sent for publication as per the requirements. The meeting commenced at 12:30 p.m. and concluded at �45_p.m.

Further, we would like to submit that M/s. S. R. Batlil:;oi & Co. LLP, Chartered Accountants, the Statutory Auditors of the Company have carried out the I iinited review of the Unaudited Standalont and Consolidated Financial Results for the quarter and nine month:; ended 31 st December. 2l)21 and the Board bas also taken on record their Limited Review Reporl on th� said Results. A copy of the Limited Review Report is also enclosed herewith.

This is for your kind information and record please. Kindly acknowledge the receipt.

Thanking you,

Yours faithfully,

For GODFREY PHILLIPS INDIA LIMITED

SANJAY GUPTA
�-9
Company Secretary	India's Best Companies�
Encl. : As above	To Work For 2019
	1HE Et . '	·n;w.RI ■ j

Regd. Office: 'Macropolo Building', Ground Floor, Dr. Babasaheb Ambedkar Road, Lalbaug, Mumbai• 400 033

CIN : L16004MH1936PLC008587

S.R. BATLIBOI & Co. LLP

Chartered Accountants

2nd & 3rd Floor

Gr1lf /iP,W l-n1porr1I=! fov1Pr - 8 Sector - 012, Sector Ro;,cJ Gi.:ruo1·r1m - 122 002 Hnr1,=m.1, India

TAI: i a 1 12..i 0a1 ,'3000

Independent Auditor's Review Report on the Quarterly and Year to Date Unaudited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

Review Report to

The Board of Directors

Godfrey Phillips India Limited

1. We have reviewed the accompanying statement of unaudited standalone financial results of Godfrey Phillips India Limited (the "Company") for the qua1ter ended December 31, 2021 and year to date from April O I, 2021 to December 31, 202 l (the "Statement") attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").

2. This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Tod AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant mies issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.

3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Stat�ment is free of mate1ial misstatement. A review of interim financial info1mation consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For S.R. BATLIBOI & Co. LLP

Chartered Accountants

• · tration number: 301003E/E300005
  �

Partner

Membership No.: 086370

UDIN: 22086370AAAAAH5539

Place of Signature: New Delhi

Date: January 29, 2022

S,R BaOit::-oi R Co LLP, a Limilrcd lii!bililvPnrlne:rs-hip wilh LLP ldenlily No AA8·4294

R1:9d Office: 22, Calllil<: 5trecl, DICJCI ·o·, 3rd Flc;or, Kclkata-700 016

., -.

OOCFREY PHILLIPS INDIA LIMITED

Statement <>f Unaudited Standalone Financial Results for the Quarter and Nine Months Ended December 31, 2021

	----· Preceeding					(Rs. in lakhs)
	Corresponding	Nine M<>nths		Year
		Quarter	Quarter	Quarter	Nine Months
Particulars		ended	ended	ended	ended	ended	ended
31.12.2021	30.9.2021	31.12.2020	31.12.2021	31.12.2020	31.3.2021
		(Unaudltad)	(Unaudited}	(Unaudited)	(Unaudited)	(Unaudited)	/Audited)
	(1)	(2)	(�)	(4)		(5)	(6)

• Revenue from operations

	(a) Revenue from co nlracts with cuslomers	85806	75762	82261		234041	208255	290470
	(b) Other operating revenues	855	910	463	2366	1257	2104
	Total revenue frDm operations	86661	76672	82724	236407	209512	292574
2	Other income	2680	3446	3615	8658	10082	11770
3	Total income (1+2)	89341	80118	86339				304344
	245065	219594

• Expenses

			(a) Cost of materials consumed	18030	14046	16311	45058	35868	51190
			(b) Purchases of stock-in-trade	15186	14264	17425	45326	56500	72496
			(c) Changes in inventories of finished goods,	(1481)	760	(106)	(2001)	( 2923)	(1846)
			stock in-trade and work-in-process
			(d) Excise duty	16126	12701	13485	41229	30624		436D9
			(e) Employee benefits expenses	6862	6539	5758	20083	17120	23547
			(f) Finance costs	756	755	695	2252	213D	3070
			(g) Depreciation and amortisation expenses	3670	3486	3316	10581	10002	13845
			(h) Advertising and sales promotion expenses	1786	2D36	1793	5164	4350	6677
			(il Other expenses	12619	11984	12427	35286	32068	45261
			Total expenses		73556	68571	71104		202978	185739	257849
5		Profit before tax (3-4)	15785	13547	15235	42087	33855	46495
	6		Tax expense
			(a) Current tax	3616	3173	3424	9906	7287	10235
			(b) Deferred tax charael(credit)		37D	175	395	1626)	417	566
			Total ta>< exoonse	3986	3348	3819		9280	7704	10801
	7		Profit for the perlDd (5-6)	11799	10199	11416		32807	26151	35694

• Other comprehensive Income
  Items that will not to be reclassified to profit or toss

		(a) loss on remeasurements of the	(391)	(262)	(401)		(914)		(872)	(182)
		defined benefit/contribution plans
	(b) Tax relating to items that will not be	98	66	101		230		219	46
		reclassified lo prom or loss
- Total other comprehensive income, net of tax	12931	11961	/300)		16841		16531	(1361
9	Total comprehensive Income for the period (7+8)	11506	10003	11116		32123		25498	35558
10	Paid up equity share capital	1040	1D40	1040		1040		1040	1040
	(Face value or Rs. 2 per share)
11	Reserves excluding revaluation reserves								240603
12	Basic and diluted earnings per share (Rs.) ('not annualised)	22.69'	19.62'	21.96'		63,10'		50.30'	66.65

• .

GODFREY PHILLIPS INDIA LIMITED

Statement of Unaudited Standalone Flnanclel Results for the Quarter and Nine Months Ended December 31, 2021

												(Rs. in lakhs)
			Quarter	Proceeding	Corresponding	Nine Months	Nine Months	Year
				Quarter	Quarter
		Particulars	ended		ended	ended		ended	ended	ended
		31.12.2021		30 9.2021	31.12.2020		31.12.2021		31.12.2020	31.3.2021
			(Unaudited)	(Unaudited!	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
	-	J..:!l			.i?L	(31		14)		(!ii	({l)
	Segment-wise Revenue, Results, Assets, Llabllltles and Capital
	Employed
1
Sugmont Revenue:		76897		67625	74707		209828		187642	262352
	a) ClgareUes, Tobar.co and reratad Pmduc(s
	bl RetaII a�d related Products	9764		9047	8017		26579		21870	30222
2	Tot'lll rnven110 from oper.itlons	86661		76672	82724		236407		209512	292574
Segment Results:
	a) Cigarettes, Tobacco and related Products	15195		12812	14555		40790		32753	46792
	b) Retail and related Products	(1842)		(2379)	(2532)		(6464)		(7888)	(9975)
	Total	13353		10433	12023		34326		24865	36817

Add/(Less):

1. Finance costs
2. Un-allocabfeincome net of unallocable expenditure

(97)

2529

(111)	(37)	(306)	(92)
3225	3249	8067	9082

(343) 10021

3	Profit before tax				15785	13547	15235	42087			33855	46495
Assets:
	a) Cigarettes, Tobacco and related Products			173935	168956	164926	173935			164926	169392
	b) Retail and related Products				26930	26816	29766	26930			29766	. 29876
	c) Unallocated Corporate Assets	,-	181226	176461	144806	181226			144806	152568
	Total Assets		382091	372233		339498	382091			339498	351838
4	Llabllltles:
	a) Cigarettes, Tobacco and related Products			93202	88150		75537	93202			75537	77366
	b) Retail and related Products				21699	21619		23121	21899			23121	23283
	c) Unallocated Corporate LiabiliUes			5702	12683		9257	5702		9257	9544
	Total Llabllltles								107915	120803		107915		110193
5				120803	122452
Capital Employed
	a) Cigarettes, Tobacco and relaled Products			80733	B0606	69369	60733		89389		92026
	b) Retail and related Products				5031	5197		6645	5031		6645		6593
	c) Unallocated Capital Employed			175524	163776		135549	175524		135549		143024
	Total Capital Employed				281288	249781		231583	261288		231583		241643
	Total 14+51	I			382091	372233		339498	382091		339498	351836

fM,/'

Noles to unaudited standalone financial resulls.

The above results are as per Regulation 33 of the SEBI (Listing Obllgations and Disclosure Requirements) Regulations, 201 <>·amended and have been taken on record by the
Board of Direclors at its meeting held on January 29, 2022 after being reviewed by the Audit Committee.	•

• These financial results have been prepared in accordance with the requirements of Indian Accounting Standards (Ind AS) as prescribed under seclion 133 of Companies Act, 2013 read with Companies (Indian Accounting Standards) Rules, 2015 as amended,

• As the effects of COVID-19 pandemic are still unfolding, some sense of uncertainty continues to prevail not just in India but across the globe The Company has considered the possible impact of the prevailing situation on the carrying amounts of its various assets Based on the current estimates arrived at by using in ternal and exlernal sources ol information, the Company does not expect any material impact on such carrying values, The impact of COVID-19 on lhe Company's financial statements may differ from that estimated as at the date of approval of Standalone Financial Results.

• The figures for the previous periods have been re-classified/re-grouped, wherever necessary, to correspond with the current period's classincation/ disclosure. Limited Review:
  The Limited Review, as required under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, has been completed and the related Report forwarded to the Stock Exchanges. This Report does not have any impact on the above "Results and Notes" for the quarter and nine months ended December 31, 2021 which needs to be eKplained,

Registered Office:	For and on behalf of the Board
'Macropolo Building', Ground Floor,	Bina Modi ,'tY'.'..� 0•
Dr Babasaheb Ambedkar Road, Lalbaug,
Mumbai - 400 033.	(Dr. Bina Modi)
New Deihl : January 29, 2022	Managing Director