Godfrey Phillips falls on Q2 profit drop, support at 1,640

Godfrey Phillips India fell as much as 3.85% after Q2 profit dropped 37.7% to Rs 189.9 crore, with support at Rs 1,640 and resistance at Rs 1,825. Godfrey Phillips India Limited [ GODFRYPHLP ] fell as much as 3.85% on 6 November in a weak market, after its Q2 FY27 results, snapping a four-day winning streak. At 10:40 am the stock was down 1.8% at Rs 1,760.80. Consolidated profit fell 37.7% to Rs 189.9 crore from Rs 305 crore, mainly on a higher tax burden after the steep tax increase of Q4 FY26. Revenue on a comparable basis rose 4.1% to Rs 1,342.2 crore from Rs 1,289 crore. Reported revenue of Rs 4,198.2 crore includes excise duty after the tax change. The trend is bearish. The recent rebound looks like a bearish flag, a small rising channel after a sharp fall, which resolves lower. Support is Rs 1,640. Resistance is Rs 1,825. A close below Rs 1,640 would confirm the flag breakdown. A close above Rs 1,825 would cancel the bearish pattern. Taxes explain the profit fall, and the company says a calibrated pricing strategy is limiting the volume impact, while illicit trade remains a concern. Volume on any bounce toward Rs 1,825 is the key signal. Disclosure: I do not hold any position in this stock. This is not a recommendation to buy or sell. Investments in securities markets are subject to market risks. Read all related documents carefully before investing.