GODFREY PHILLIPS INDIA LTD. - 500163 - Shareholder Meeting / Postal Ballot-Outcome of AGM
Proceedings of the 82nd Annual General Meeting of the Company held on 23rd September, 201924-09-2019
24-09-2019
Ban on e-cigarettes may only be temporary positive for tobacco stocks
by Ritmbarah Arora Cigarette stocks have been on the upswing after the government announced a ban on e-cigarettes on Wednesday, with stocks like Godfrey Phillips India emerging as the top gainer EOD on Wednesday (September 18). The stock has continued to rise at the end of the week. In a Cabinet meeting, Finance Minister Nirmala Sitharaman announced that the manufacture, import, sale, distribution and advertisements of e-cigarettes is a cognizable offence due to their impact on health. Quick Takes: E-cigarettes are battery-powered devices heating a solution of nicotine of different flavours to create aerosol, which is then inhaled. Shares of cigarette companies surged on September 18 with the announcement. ITC shares gained 1.8%, Godfrey Phillips India rose with 7.8%, VST Industries soared 1% and Golden Tobacco was up 4.5%. ITC sells 81% of cigarettes in Asia. The central government too, has the potential to benefit financially from this move, with central and state-owned firms owning shares in ITC Manufacture, import, sale, distribution and advertisements of e-cigarettes is now a punishable offence with fine or imprisonment Indian farmer associations protested e-cigarettes on the grounds that these products didn’t use tobacco and would impact their livelihood. Gujarat is the largest producer and supplier of such tobacco. Sale of e-cigarettes increased by 77% because of student consumption, as per a US report. International companies like Juul Labs and Philip Morris International suffered a setback on their plans to launch e-cigarettes in India E-cigarettes makers were highly criticized for targeting young people with flavoured products and canny marketing. Around six deaths due to lung diseases were reported in the US because of e-cigarettes. More than 900,000 people die each year due to illness related to tobacco, and India has around 10.6 crore adult smokers, second only to China in the world. Chief Executive of Voluntary Health Association of India, Bhavna B. Mukhopadhyay commented, “E-cigarettes pose significant health risks to users that are frighteningly similar to those of conventional cigarettes. They are being marketed as a harm reduction product, which is contrary to the truth". As per a US report, the sale of e-cigarettes increased by 77% because of consumption by students. Nirmala Sitharaman said, “There are some who are probably getting into the habit of e-cigarettes as it seems cool. It is believed that there are more than 400 brands, none of which is manufactured in India as yet. And they come in over 150 flavours". With the announcement of ban on e-cigarettes, the shares surged yesterday in the Indian market. ITC shares gained 1.8%, Godfrey Phillips India rose with 7.8%, VST Industries soared 1% and Golden Tobacco with 4.5%, as on September 18. The central government too, has the potential to benefit financially from this move, with central and state-owned firms making national gains of nearly Rs.1,000 crore on Wednesday by day's end as the government owns 28% stake in the country’s monopoly ITC. The ban will also take a toll on the expansion plans of companies like Juul Labs, in which Altria Group, the tobacco giant owns a stake of 35% and Philip Morris International in India as they had plans to launch e-cigarettes in India. The shares of ITC had been in red since September 11, and declined over a percent to touch its 52 week low of Rs.234.20. Immediately after the announcement of ban on e-cigarettes, the ITC shares rebounded sharply on BSE surging by 1.77% at Rs.241.35 on BSE. It sells 81% of cigarettes in Asia whose total cigarette market is worth close to Rs.757399.4 million. E-cigarettes: A small market, but with potential for growth The Bhartiya Kisan Union had warned the government on Tuesday, September 17 that if e-cigarettes were allowed in India, it would have ‘devastating effects’ on the tobacco farmers in India. The farmers had appealed to Union Agriculture Minister Narendra Singh Tomar and Commerce Minister Piyush Goyal on Monday, September 16. The argument was that e-cigarette companies, which are trying to establish a market in India, are of foreign origin which do not use Indian tobacco which thus, impacting the livelihood of Indian farmers. On this, Bhikhubhai N Patel, President of Gujarat Tobacco Merchants Association commented, “Gujarat tobacco leaf is suited to nicotine extraction. The State is the largest producer and supplier of such tobacco. Nicotine processing will become the next global opportunity for our farmers and industries,”. He also added that the country should consider establishing nicotine manufacturing units in the co-operative sector. The India’s vapour products market was valued at over Rs.106 crores in 2017 and was projected to grow approximately 60 percent up per year until 2022, as per analyst reports. E-cigarettes are the most common types of Electronic Nicotine Delivery Systems (ENDS), with around 460 different brands and more than 7,700 flavours marketed in India at present. The import of e-cigarettes and their accessories increased with almost 119 percent from FY16-FY17 to FY18-FY19, according to the Global Adult Tobacco Survey results. The Indian Council of Medical Research (ICMR) had released a white paper in May 2019 stating, “the uses of ENDS and e-cigarettes have documented adverse effects which include DNA damage; carcinogenesis; cellular, molecular and immunological toxicity; respiratory, cardiovascular and neurological disorders. It also impacts the foetal development and pregnancy”. Are cigarette companies celebrating too soon? With the ban on e-cigarettes, the risk of an increase in tobacco taxes, especially cigarettes, has possibly escalated. A proposal on increase in tax of tobacco goods can be made so that prices of essential items can be lowered. The GST Council will be meeting this weekend to discuss the changes in the regulations & policies and the need to cut taxes. Today's overall corporate tax cuts may only increase the risk for additional sin taxes for tobacco. For cigarette firms, the celebrations may therefore be a tad early.20-09-2019
Shares of cigarette companies rise as government bans e-cigarettes
Shares of ITC Ltd rose 1.8%, Godfrey Phillips India Ltd soared 7.8%.Earlier, following an advisory from the health ministry, at least 12 states in India had banned Electronic Nicotine Delivery Systems18-09-2019
Godfrey Phillips India Ltd - 500163 - Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate
Intimation of issue of duplicate share certificate- Folio P0225917-09-2019
GODFREY PHILLIPS INDIA LTD. - 500163 - Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate
Intimation of loss of share certificate. Folio J0142409-09-2019
Godfrey Phillips India Ltd - 500163 - Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate
Intimation of issue of duplicate share certificate- M0118804-09-2019
Godfrey Phillips India Ltd - 500163 - Announcement under Regulation 30 (LODR)-Press Release / Media Release
In terms of Regulation 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find attached a copy of the advertisement published in Economic Times & Maharashtra Times dt. 31st August, 2019 intimating that the Annual General Meeting of the Company is scheduled to be convened on Monday, the 23rd day of September, 2019 and providing of e-voting facility to all members through platform of NSDL.02-09-2019
GODFREY PHILLIPS INDIA LTD. - 500163 - Intimation Of Cut-Off Date Of E-Voting For The Purpose Of AGM
In compliance with the provisions of Section 108 and other applicable provisions, if any, of the Companies Act, 2013 read with the Companies (Management and Administration) Amendment Rules, 2015 and Regulation 44 of the SEBI (LODR) Regulations, 2015, the Company is pleased to provide e-voting facility to all members through platform of NSDL. The voting rights of members shall be in proportion to their shares of the paid up equity share capital of the Company as on the cut-off date of 16th September, 2019. The remote e-voting period commences from Friday 20th September, 2019 at 9 a.m. and ends on Sunday 22nd September, 2019 at 5.00 p.m. During this period Shareholders of the Company, holding shares either in physical or in dematerialized form, as on cut-off date i.e. 16th September, 2019 may cast their vote electronically. The remote e-voting shall be disabled thereafter and no e-voting will be allowed thereafter. Please take the same on record.30-08-2019
Godfrey Phillips India Ltd - 500163 - Reg. 34 (1) Annual Report
Pursuant to Regulation 34 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('SEBI Listing Regulations)', please find attached soft copy of the Annual Report for the Financial Year 2018-19 along with Notice for the 82nd Annual General Meeting of members of Godfrey Phillips India Limited to be held on Monday, 23rd September, 2019 at 3:15 p.m. at Y.B. Chavan Auditorium, General Jagannath Bhosle Marg (Next to Sachivalaya Gymkhana) Mumbai - 400 021. Kindly acknowledge receipt.28-08-2019
GODFREY PHILLIPS INDIA LTD. - 500163 - Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate
Intimation regarding loss of share certificate. Folio V1004020-08-2019