Intimation under Regulation 30 - Contract Manufacturing Agreement
GODFRYPHLP · price
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Godfrey Phillips India Ltd has entered into a 9-year Contract Manufacturing Agreement with Polisetty Somasundaram Tobacco Products (India) Pvt. Ltd. Under the agreement, Polisetty will manufacture cigarettes and other tobacco products exclusively for Godfrey Phillips at its facility using materials provided by the company. Polisetty has up to 12 months to set up the manufacturing facility and obtain necessary licenses. The company will pay a 'Manufacturing Fee' with fixed and variable components. Polisetty's FY2024-25 financials show revenue of Rs. 186 lakhs and PAT of Rs. 164 lakhs. This arrangement is not a related party transaction.
This agreement allows Godfrey Phillips to expand its manufacturing capacity without significant capital investment, potentially improving product availability. However, it is an operational arrangement rather than a major strategic transaction and is unlikely to have a direct material impact on the stock price.