Marlboro magic: How Godfrey Phillips shares doubled money in 2025 while ITC sulked in a corner

ITCs long-standing dominance is being challenged as Godfrey Phillips Marlboro surges, doubling in 2025 and delivering 9x returns over three years. While ITC still holds over 75% market share, aggressive Marlboro rollout and rising preference among younger smokers are eroding its stronghold. Q1 FY26 volume trends highlight intensifying competition and continued market share loss for ITC.