Godfrey Phillips to consider bonus issue on Sept 20, stock up 12% upper circuit | Stock Market News

The Indian Marlboro cigarette maker Godfrey Phillips India Limited announced that the company’s Board of Directors will meet on September 20 to discuss and consider a bonus issue of shares, according to the company’s Bombay Stock Exchange (BSE) filing on Friday, September 6.

“We wish to inform that a meeting of the Board of Directors of the Company is scheduled to be held on Friday, 20th September 2024 to consider and recommend to the shareholders for their approval,” said Godfrey Phillips in the exchange filing.

According to the company filing, Godfrey Phillips India is likely to issue bonus shares at a ratio of 2:1, which is two new fully paid-up equity shares of ₹2 each for every one existing fully paid-up equity share of ₹2 each to the company’s shareholders. Every shareholder will receive two new shares of the company for every share held over a certain period of time, making the shareholder eligible of the bonus issue.

“Issue of bonus shares in the ratio of 2:1 i.e. 2 (Two) new fully paid-up Equity Shares of Rs. 2/- each for every 1 (One) existing fully paid-up Equity Share of Rs. 2/- each, to the Equity Shareholders of the Company by capitalization of reserves,” said the company in the BSE filing. 

Godfrey Phillips share price today: 

Godfrey Phillips India Ltd. shares closed 12.69 per cent higher at ₹7,204.35 after Friday’s trading session, compared to ₹6,393.05 in the previous market close. The company released the bonus share issue information during the afternoon session of Friday’s market operating hours. 

The cigarette maker’s shares hit the upper circuit, hitting a 52-week high on Friday. Godfrey Phillips India has given 204.05 per cent in this year and 4.60 per cent in the last 5 days.

Godfrey Philips Q1 Results:

The company’s food, beverages and tobacco products segment, which deals with selling and manufacturing cigarettes and other tobacco products, accounted for 67.63 per cent of the brand’s turnover, according to the company’s Business Responsibility and Sustainability report for the financial year 2023-24. The company’s net profits surged 68.61 per cent to ₹220.97 crore in the April to June quarter of the financial year 2024-25, compared to ₹131.05 crore in the same period the previous year.

Godfrey Phillips India’s wholesale trading and retail trading segment accounted for 23.68 per cent and 7.38 per cent, respectively, and exports make up 25.6 per cent of the brand’s total turnover, as per the report.