The present invention relates to substituted phenyl alkanoic acid compounds designated as the compound of Formula (I) (as described herein) or a tautomer, a stereoisomer, a geometrical isomer, a pharmaceutically acceptable salt, a pharmaceutically acceptable solvate, a prodrug, a polymorph, an N-oxide, a S-oxide or a carboxylic acid isostere thereof; which are GPR120 agonists. The present invention also relates to a pharmaceutical composition of compound of Formula (I) for the treatment of diseases or disorder mediated by GPR120.