.Godfrey Phillips ceo Sharad Aggarwal has reposed his faith in the leadership of the firm's chairperson Bina Modi under whose supervision he said the cigarette producer has actually acquired market share at the expense of rivals.He additionally soft-pedaled the value of the investor issue that has actually been plaguing the company over the past many months." Given That Dr Bina Modi managed in 2019, our experts have actually possessed world-class functionality on all specifications. Our experts have developed market allotment coming from 12-18% regardless of intake being actually level. Our income before tax has actually developed from 400 crore to 1,000 crore. Our team have actually taken allotment from rivals," Aggarwal informed ET.Aggarwal was reacting to questions regarding the shocking rise in the business's stock price.Shares of Godfrey Phillips have actually soared much more than 150% because February 1 when ET to begin with disclosed that a feud in the promoter household had actually taken a new turn along with Bina Modi's kid Samir Modi moving toward the High court, accusing his mom of reneging on the relations to a family leave deed.The cigarette producer has a tie-up with US-based Phillip Morris Inc. to offer the Marlboro company in India." The firm is operated very professionally. There is actually a tough management staff. All decisions are actually taken through a corporate board. The panel comprises highly informed individual specialists," mentioned Aggarwal.Samir Modi in addition to his sibling Lalit are paying a lawful battle for their share of the loved ones heirloom. Samir has actually implicated Godfrey Phillips panel of not being individual. He was recently eliminated from the panel after he declared being actually assaulted at a board conference in May at the wish of particular directors.Aggarwal repeated that the shareholder conflict will not have an effect on the firm's operations.
Posted On Aug 30, 2024 at 09:03 AM IST.
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