Godfrey Phillips India Limited (GODFRYPHLP.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+153.7%

₹4,405.26

vs ₹1,736.10 price

Levered DCF

₹1,336.63

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

C+

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	19.15×	31.96×	17.41×	13.7×	11.98×	12.64×	12.71×	23.21×
P/B	4.7×	7.02×	3.63×	2.67×	1.79×	1.84×	2.24×	2.96×
P/S	4.57×	6.57×	3.83×	2.66×	1.95×	1.89×	1.7×	2.42×
EV / EBITDA	14.21×	30.84×	16.61×	11.93×	8.7×	9.39×	8.61×	14.88×
Gross margin	35.6%	41.2%	44.9%	48.4%	52.5%	49.8%	54.6%	55.3%
Operating margin	22.9%	30.2%	33.0%	36.9%	38.9%	36.0%	39.0%	35.8%
Net margin	23.9%	19.1%	22.0%	19.4%	16.3%	14.9%	13.4%	10.4%
Current ratio	2.44×	2.1×	1.66×	1.37×	2×	1.93×	1.43×	1.47×
Debt / equity	0.04×	0.03×	0.08×	0.1×	0.11×	0.15×	0.15×	0.02×
Interest coverage	124.68×	137.65×	50.71×	45.29×	30.78×	29.47×	37.07×	922.63×
Dividend yield	2.0%	1.3%	1.5%	1.5%	2.4%	0.1%	4.3%	0.7%
Payout ratio	37.7%	43.8%	25.9%	21.0%	28.3%	0.7%	54.2%	15.8%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	24.6%	20.4%	20.9%	19.5%	15.0%	14.6%	17.6%	12.8%
Return on invested capital	17.4%	23.7%	22.6%	26.0%	24.0%	23.0%	32.3%	28.0%
Return on assets	18.4%	15.4%	15.1%	13.9%	10.7%	10.1%	11.7%	9.1%
Free cash flow yield	1.6%	-0.2%	1.2%	6.9%	7.5%	3.7%	5.2%	3.7%
Earnings yield	5.2%	2.9%	5.7%	7.3%	8.3%	7.9%	7.9%	4.3%
Enterprise value	₹294.5B	₹369.9B	₹157.1B	₹98B	₹55.6B	₹51.3B	₹52B	₹60.6B
Net debt / EBITDA	0.11×	0.12×	0.35×	0.41×	0.48×	0.68×	0.51×	0.03×
Cash conversion cycle (days)	224	199	183	128	187	175	131	124