BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Centrum Broking Report
Owing to challenging market conditions and receding Covid-19 impact Godfrey Phillips India Ltd. saw sequential recovery; Q3 FY22 revenue/Ebitda/profit after tax grew 1.3%/9.9%/3.4 backed by 13.4% cigarette volumes growth.
International business including unmanufactured tobacco saw weak growth.
Despite key markets such as Gujarat/ Maharashtra and north saw disruption, Q3 volumes saw good uptick led by Marlboro (introduced Rs 6 price point).
Gross revenue for tobacco segment grew 2.9% YoY (up 13.7% QoQ); non-tobacco including 24seven convenience stores grew 21.8%.
Favorable product mix and higher scale of operations improved Godfrey Phillips' gross margin to 54.5% (up 335 basis points)
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