Tag: Godfrey Phillips India

  • GPI Leader Honored for CSR Contributions

    GPI Leader Honored for CSR Contributions

    From left to right: India’s vice president, Jagdeep Dhankhar, and Bina Modi, along with the lawyers Jyoti Sagar and Lalit Bhasin (Photo: Business Wire)

    Bina Modi, the chairperson and managing director of Godfrey Phillips India (GPI) has been recognized for her contributions to corporate social responsibility (CSR). The honor was bestowed by the India’s vice president, Jagdeep Dhankhar, during a recent event in New Delhi.

    “I am honored to receive this recognition, which reflects the dedication and hard work of every member of the KK Modi Group family,” said Modi in a statement. “Our ‘people-first’ philosophy, which encompasses all stakeholders of our group companies, remains central to our mission of nation-building and giving back to society. Our CSR initiatives predate their legal mandate in India and are strategically aligned with the global sustainable development goals.”

    Driven by Modi’s vision, GPI’s key CSR initiatives have focused on access to safe drinking water, soil and water conservation, plantation and biodiversity, eliminating child labor, improving community health and empowering marginalized tobacco farmers in southern India. In alignment with the commitment of GPI’s partner, Philip Morris International, to good agricultural practices, GPI aims to enhance livelihoods while preserving the environment. GPI’s CSR initiatives were also given a special mention by Control Union, a globally renowned testing, inspection and certification organization.

    Modi emphasized the symbiotic relationship between environmental sustainability and community welfare. “We’ve taken proactive steps to establish biodiversity parks, safeguarding and revitalizing native flora and fauna,” she said.

    “I am also deeply committed to a bold initiative of large-scale plantation in a semi-arid region of Andhra Pradesh, a state in southern India. We implement check-dams, farm ponds and regular pond de-siltation to promote water conservation in the rain-starved region, enabling farmers to access a secondary water source for cultivating additional crops. By nurturing our environment, we not only preserve natural resources but also create resilient communities capable of thriving in the face of challenges.”

    In addition to her dedication to farmer communities, Modi is passionate about the education and empowerment of young girls and women. Through the Khushi project, she aims to sponsor the education and vocational aspirations of rural girls nationwide.

    Modi’s recent honor follows earlier recognitions such as Women Empowerment in Leadership and Outstanding Businesswoman of the Year.

  • Profits Up at Indian Cigarette Makers

    Profits Up at Indian Cigarette Makers

    Image: RODWORKS

    ITC’s reported a profit of INR55.72 billion ($670.3 million) for the three months that ended Dec. 31, up nearly 11 percent over the comparable 2023 period, the company announced on its website.

    The consumer goods giant benefited from higher demand for its cigarettes as a crackdown on the smuggling of international cigarette brands reduced competition. A sharp escalation in costs of leaf tobacco and certain other inputs, along with increase in taxes were largely mitigated through improved mix, strategic cost management and calibrated pricing.

    The company’s cigarette business, which contributes more than 40 percent of ITC’s top line, grew 3.6 percent over the period. Its paperboards, paper and packaging business, by contrast, struggled with competition from China and sluggish economic conditions in some of its export markets. The segment’s revenue declined almost 10 percent.

    ITC’s hotel business, which the conglomerate plans to spin off into a separate entity, reported  an 18 percent jump in revenue, driven by a strong revival in domestic tourism and heightened demand from corporate bookings.

    ITC competitor Godfrey Phillips India (GPI) also reported improved performance for the third quarter, according to Reuters. The company posted a consolidated net profit of INR2.12 billion, up 6.6 percent over the comparable 2023 quarter. Total revenue from operations rose 34 percent to 14.88 billion rupees, with the company’s core cigarettes segment registering a growth of 37 percent.

    GPI attributed its performance to growth in its core segment and easing expenses. The company manufactures and distributes Marlboro-branded cigarettes under a license agreement with PMI.

    The growth in the cigarette segment was led by the Marlboro Compact, which is priced at INR10 apiece.

  • Godfrey Phillips India Appoints New CEO

    Godfrey Phillips India Appoints New CEO

    Photo: tashatuvango

    Godfrey Phillips India (GPI) has appointed Sharad Aggarwal as CEO, according to The Economic Times. Aggarwal succeeds Bhisham Wadhera and will report to GPI President and Managing Director Bina Modi.

    Wadhera, who has led GPI since 2015, resigned on Dec. 26 and will continue as an advisor and mentor.

    Sharad has been with the organization since 1994 and has exceptional credentials of delivering results,” said Modi. “He has proven himself as an inspiring leader and led transformational changes in the organizations, and I firmly believe he is the right choice to unleash to potential of Godfrey Phillips to the fullest, create a sustainable business with sales and profit growth and value for all stakeholders.”

    Prior to his most recent appointment, Aggarwal was chief operating officer of GPI. During his tenure as COO, Aggarwal invested in technology, processes and certifications for GPI’s manufacturing facilities. An alumnus of the Harvard Business School, Aggarwal holds a degree in electronics from REXC, Nagpur, and a post-graduate diploma in business management from IMTR, Ghaziabad.

    GPI’s cigarette brands include Four Square, Red & White and Cavanders. The company also has an exclusive agreement to manufacture and distribute PMI’s Marlboro cigarettes in India.