GODREJ CONSUMER PRODUCTS LIMITED

Regd. Office: Godrej One, 4th Floor, Pirojshanagar, Eastern Express Highway, Vlkhroli ( E ), Mumbai-400 079, www.godreJcp.com, CIN : L24246MH2000PLC129806
STATEMENT OF AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2024 ( 'f Crore}
CONSOLIDATED STANDALONE

Quarter ended Year ended Sr. Quarter ended Year ended

31-Mar-24 31-Dec-23 31-Mar-23 31-Mar-24 31-Mar-23 No. PARTICULARS 31-Mar-24 31-Dec-23 31-Mar-23 31-Mar-24 31-Mar-23

(Audited) (Audited) (Audited) (Audited) (Audited) (Audited)

(Unaudited) (Unaudited) (Audited) (Audited)
(Refer note 9) (Refer note 9) (Refer note 9) (Refer note 9)

l Revenue from Operations

3,365.11 3,622.80 3,172.21 13,974.13 13,198.69 a) Sale of Products 2,007.49 2,160.19 1,789.18 8,267.86 7,530.80
20.50 36.84 27.95 121.98 117.28 b) Other Operating Revenue 26.10 43.92 33.75 143.54 136.37
3,385.61 3,659.64 3,200.16 14,096.11 13,315.97 Total Revenue from Operations 2,033.59 2,204.11 1,822.93 8,411.40 7,667.17
63.84 70.08 57.91 268.95 168.41 2 Other Income (Refer Note 6) 60.57 55.34 49.87 455.96 139.48
3,449.45 3,729.72 3,258.07 14,365.06 13,484.38 3 Total Income (1+2) 2,094.16 2,259.45 1,872.80 8,867.36 7,806.65
4 Expenses

1,304.21 1,435.80 1,408.79 5,677.89 6,184.67 a) Cost of Raw Materials including Packing Material Consumed 722.56 737.75 718.36 2,965.07 3,366.26
165.19 108.42 50.18 655.54 305.18 b) Purchase of St ock-in-Trade 158.83 120.32 47.81 655.67 295.78
Changes in Inventories of Finished Goods, Work-in-Progress and Stock
16.27 70.04 48.38 (13.13) 212.94 c) (23.77) 41.97 17.23 (91.73) 65.47
in-Trade
323.70 276.08 300.78 1,249.34 1,111.48 d) Employee Benefits Expense 120.04 117.07 113.88 498.56 372.19
78.47 66.59 52.51 296.37 175.74 e) Finance Costs 37.07 36.16 1.05 134.10 3.07
49.91 53.88 68.59 240.96 236.29 f) Depreciation and Amortization Expense 22.08 27.02 35.48 126.88 107.99
g) Other Expens11s
306.29 343.27 224.48 1,335.89 985.52 {i) Advertisement and Publicity 231.56 253.35 175.31 1,011.00 687.34
4.66 64.00 23.94 126.85 108.70 (ii) Foreign Exchange Loss (net) - - - 1.24 -
509.57 521.31 502.74 2,120.26 1,977.02 (iii) Others 283.16 285.84 268.92 1,128.98 1,011.36
2,758.27 2,939.39 2,680.39 11,689.97 11,297.54 Total Expenses 1,551.53 1,619.48 1,378.04 6,429.77 5,909.46
691.18 790.33 577.68 2,675.09 2,186.84 5 Profit before Exceptional items and Tax (3-4) 542.63 639.97 494.76 2,437.59 1,897.19
(2,375.65) (6.89) (22.17) (2,476.86) (54.11) 6 Exceptional Items (net) (refer note no. 2) (1,067.99) (5.86) (0.20) (1,152.75) (27.59)
(1,684.47) 783.44 555.51 198.23 2,132.73 7 Profit/ (Loss) before Tax {5+6+7) (525.36) 634.11 494.56 1,284.84 1,869.60
8 Tax Expense
(11.84) 150.11 108.28 394.63 396.25 a) Current Tax (47.94) 114.97 86.87 272.09 328.57
220.58 52.27 (4.91) 364.15 34.02 b) Deferred Tax 223.49 46.56 0.18 365.72 27.33
(1,893.21) 581.06 452.14 (560.55) 1,702.46 9 Profit/I Loss) after Tax (7-8) (700.91) 472.58 407.51 647.03 1,513.70
 GODREJ CONSUMER PRODUCTS LIMITED
Regd. Office: Godrej One, 4th Floor, Pirojshanagar, Eastern Express Highway, Vikhroli ( E ), Mumbal-400 079, www.godrejcp.com, CIN : L24246MHZOOOPLC129806
STATEMENT OF AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2024 ("'Crore}
CONSOLIDATED STANDALONE

Quarter ended Year ended Sr. Quarter ended Year ended

31-Mar-24 31-Dec-23 31-Mar-23 31-Mar-24 31-Mar-23 No. PARTICULARS 31-Mar-24 31-Dec-23 31-Mar-23 31-Mar-24 31-Mar-23

(Audited) (Audited) (Audited) (Audited) (Audited) (Audited)

(Unaudited) (Unaudited) (Audited) (Audited)
(Refer note 9) (Refer note 9) (Refer note 9) (Refer note 9)

10 Other Comprehensive Income/ (Loss)

a) (i) Items that will not be reclassified to profit or loss
2.35 0.30 3.27 0.49 7.14 Remeasurements of defined benefit plans 3.16 - 0.35 (0.24) 1.40
(ii) Income tax relating to items that will not be reclassified to profit or
(0.90) (0.02) (0.76) 0.15 (1.74) (1.11) - (0.12) 0.08 (0.49)
loss
b) (i) Items that will be reclassified to profit or loss
Exchange differences in translating the financial statements of foreign
(66.07) (29.97) (9.10) (144.49) 547.30
operations
- - - - -
Effective portion of gains and loss on hedging instruments in a cash
8.54 (2.33) (7.99) 12.42 0.42 3.34 (1.89) (7.59) 9.75 0.19
flow hedge
Debt instruments measured at fair value through other
0.66 - - 0.66 - 0.66 - - 0.66 -
comprehensive income
(ii) Income tax relating to items that will be reclassified to profit or
loss
Effective portion of gains and loss on hedging instruments in a cash
(1.38) 0.66 (0.07) (3.49) (0.07) (1.38) 0.66 (0.07) (3.49) (0.07)
flow hedge
Debt instruments measured at fair value through other
(0.08) - - (0.08) - (0.08) - - (0.08) -
comprehensive income
(56.88) (31.36) (14.65) (134.34) 553.05 Other Comprehensive Income/ (Loss) 4.59 (1.23) (7.43) 6.68 1.03
(1,950.09) 549.70 437.49 (694.89) 2,255.51 11 Total Comprehensive Income (9+10) (696.32) 471.35 400.08 653.71 1,514.73
12 Net Profit attributable to :
(1893.21) 581.06 452.14 (560.55) 1,702.46 a) Owners ofthe Company (700.91) 472.58 407.51 647.03 1513.70
- - - - - b) Non-Controlling interests . - - - -
13 Other comprehensive income/ (loss) attributable to :
(56.88) (31.36) (14.65) (134.34} 553.05 a) Owners of t he Company 4.59 (1.23) (7.43) 6.68 1.03
- - - - - b) Non-Controlling interests - - - - -
14 Total comprehensive income attributable to :
(1,950.09) 549.70 437.49 (694.89) 2 2 ~~ a) Owners of t he Company (696.32) 471.35 400.08 653.71 1514.73
, &. C o.
~
- - - - b) Non-Controlling interests - - - . -

~
;--.....
102.28 102.28 102.27 102.28 ~ 5 -u quity Share Capital (Face value per share: '\' 1} 102.28 102.28 102.27 102.28 102.27
~ ~ic
/,ng a ~
12,496.29 v-16J rEq ~y 9450.30 9283.75

* I Nesco I Pan<
~YI~~*
(18.51)
(18.50)
5.68
5.68
4.42
4.42
(5.48)
(5.48)
~ ~ ,<>
~
Nesco
center
Western f~I eVt,l
pn \fa
ffi;ti!ll 3 - 400
g a
~~
l!r share (of" 1 each) (Not Annualised}
Basic (1')
Diluted(")
& 0
i,u'/ ~
M
M~(,:~
"~
(6.85)
(6.85)
4.62
4.62
3.98
3.98
6.33
6.32
14.80
14.80
'<i3' 400 07<:' .II
~edAC~ ~ I
 GODREJ CONSUMER PRODUCTS LIMITED
STATEMENT OF ASSETS AND LIABILITIES
'f Crore
Consolidated Standalone
As at March 31, As at March 31, Particulars As at March 31, As at March
2024 2023 2024 31 2023
(Audited I (Audited I (Audited I (Audited)
A ASSETS
1 Non-current assets
1,281.25 1,437.40 (a) Property, Plant and Equipment 646.84 675.52
78.15 41.61 (b) Capital work-in-progress 65.06 21.58
10.58 - (c) Investment property - -
165.12 96.67 (d) Right of use assets 94.62 40.10
5,026.39 5,822.25 (e) Goodwill 568.78 2.48
3,956.90 2,577.34 (f) Other Intangible assets 3,005.59 804.49
5.21 3.81 (g) Intangible assets under development 5.21 3.81
(h) Financial Assets
- - (I) Investments in subsidiaries 4,258.96 5,099.13
1,787.48 839.33 (ii) Other Investments 1,218.85 199.08
0.01 0.03 (iii) Loans 0.01 0.03
24.93 21.61 (iv) Others 19.58 17.53
384.17 702.75 (i) Deferred tax assets (net) - 322.03
121.59 101.32 (j) Non-Current Tax Assets (net) 53.64 47.91
92.88 48.68 I(kl Other non-current assets 92.35 46.46
12 934.66 11692.80 Total Non Current Assets 10 029.49 7 280.15
2 Current assets
1,270.92 1,537.15 (a) Inventories 646.86 591.60
(b) Financial Assets
1,716.19 2,189.65 (i) Investments 1,286.61 2,109.59
1,535.37 1,245.28 (ii) Trade receivables 491.34 320.79
402.78 357.62 (iii) Cash and cash equivalents 100.06 17.69
144.16 33.10 (iv) Bank balances other than (iii) above 143.84 32.78
0.01 0.05 (v) Loans 0.01 0.05
83.49 42.31 (vi) Others 50.21 52.69
400.57 400.81 (c) Other Current Assets 239.90 156.04
5,553.49 5,805.97 Total Current Assets 2,958.83 3,281.23
7.74 - (di Non Current Assets held for sale - -
5 561.23 5 805.97 Total Current Assets 2 958.83 3 281.23
18 495.89 17 498.77 TOTAL ASSETS 12 988.32 10 561.38

B EQUITY AND LIABILITIES

1 Equity
102.28 102.27 (a) Equity Share capital 102.28 102.27
12 496.29 13 691.96 I! bl Other Eouitv 9 450.30 9 283.75
12 598.57 13 794.23 Total Eouitv 9 552.58 9 386.02
LIABILITIES
2 Non-current liabilities
(a) Financial Liabilities
- 189.12 (i) Borrowings - -
35.83 57.61 (ii) Lease liabilities 14.91 28.80
166.63 103.42 (b) Provisions 89.56 58.93
103.81 61.51 (c) Deferred tax liabilities (Net) 47.17 -
0.71 1.57 (dl Other non-current liabilities 0.71 3.41
306.98 413.23 Total Non Current Liabilities 152.35 91.14
3 Current liabilities
(a) Financial Liabilities
3,154.64 844.84 (i) Borrowings 1,979.88 23.82
31.73 38.01 (ii) Lease liabilities 13.90 13.28
(ii) Trade payables
51.48 46.40 (a) Total outstanding dues of Micro Enterprises and Small Enterprises 51.48 46.40
1,624.00 1,776.77 (b) Total outstanding dues of Creditors other than Micro and Small Enterprises 821.34 664.69
344.02 266.39 (iv) Other finanoial liabilities 165.46 111.90
235.04 229.03 (b) Other current liabilities 164.06 157.82
90.97 75.16 (c) Provisions 84.34 65.35
58.46 14.71 (d) Current Tax Liabilities (Net) 2.93 0.96
5 590.34 3 291.31 Total Current Liabilities 3 283.39 1084.22
18,495.89 17,498.77 TOTAL EQUITY AND LIABILITIES 12 988.32 10 561.38
 Annexure-1
Reporting of Consolidated Segment wise Revenue, Results, Assets and liabilities along with the quarterly results
("i:Crore)
Quarter ended Year ended
December 31,
March 31, 2024 March 31 , 2023 March 31, 2024 March 31, 2023
2023
Particulars (Audited) (Unaudited) (Audited) (Audited) (Audited)

1. Segment Revenue
a) India 2,033.59 2,204.12 1,822.92 8,411.40 7,667.16
b) Indonesia 498.34 466.53 434.54 1,888.52 1,653.03
c) Africa (including Strength of Nature) 593.69 923.25 770.09 3,181.31 3,414.67
d) Others 290.03 99.31 203.59 752.74 717.83
Less: lntersegment eliminations (30.04) (33.57) (30.97) (137.86) (136.72)
Revenue from Operations 3,385.61 3,659.64 3,200.16 14,096.11 13,315.97
2. Segment results (Profit)(+)/ Loss(-) before tax, interest & exceptional items
a) India 579.66 676.19 496.08 2,572.05 1,900.56
b) Indonesia 133.17 116.63 104.73 450.59 330.75
c) Africa (including Strength of Nature) 66.51 82.50 29.71 242.98 136.88
d) Others 7.42 2.47 18.56 21.32 42.01
Less: lntersegment eliminations (17.11) (20.87) (18.89) (315.48) (47.62)
Total 769.65 856.92 630.19 2,971.46 2,362.58
Add/ (Less): Exceptional items (refer note no. 2)
a) India (794.47) (5.86) - (881.77) (18.77)
b) Indonesia 0,03 (0.10) (11.38) (6.33) (18.21)
c) Africa (including Strength of Nature) (1,579.21) (0.94) (6.38) (1,585.39) (7.11)
d) Others (2.00) 0.01 (4.41) (3 .37) (10.02)
Add/ (Less): Finance Cost (78.47) (66.59) (52.51) (296.37) (175.74)
Total Profit Before Tax (1,684.47) 783.44 555.51 198.23 2,132.73

( a: Crore)
As at March 31, As at December As at March 31,
2024 31, 2023 2023
(Audited) (Unaudited) (Audited)

3. Segment Assets
a) India 8,743.65 8,232.93 5,472.44
b) Indonesia 3,863.35 3,756.87 3,450.11
c) Africa (including Strength of Nature) 4,924.62 7,563.76 7,574.23
d) Others 1,070.83 1,036.15 1,115.71
Less: lntersegment Eliminations (106.56) (116.56) (113.72)
18,495.89 20,473.15 17,498.77
4. Segment Liabilities
a) India 1,429.10 1,313.64 1,109.48
b) Indonesia 466.36 448.26 382.09
c) Africa (including Strength of Nature) 634.28 764.59 914.93
d) Others 168.35 171.56 201.77
Less: lntersegment Eliminations (104.57) (116.59) (114.39)
Unallocable liabilities 3,303.80 3,347.66 1,210.66
5,897.32 5,929.12 3,704.54
 GODREJ CONSUMER PRODUCTS LIMITED
ADDITIONAL DISCLOSURES AS PER CLAUSE S2 (4) OF SECURITIES AND EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015

CONSOLIDATED STANDALONE

Quarter ended Year ended Sr. PARTICULARS Quarter ended Year ended

31-Mar-24 31-Dec-23 31-Mar-23 31-Mar-24 31-Mar-23 No. 31-Mar-24 31-Dec-23 31-Mar-23 31-Mar-24 31-Mar-23
(Audited) (Unaudited) (Audited) (Audited) (Audited) (Audited) (Unaudited) (Audited) (Audited} (Audited)
1.46 1.46 1.46 1.46 1.46 1 Capital redemption reserve (" in crores) 1.46 1.46 1.46 1.46 1.46
12,598.57 14,544.03 13,794.23 12,598.57 13,794.23 2 Net worth (" in crores) 9,552.58 10,242.67 9,386.02 9,552.58 9,386.02
(1,893.21) 581.06 452.14 (560.55) 1,702.46 3 Net profit after tax (" in crores) (700.91) 472.58 407.51 647.03 1,513.70
4 Earnings per share (of" 1 each) (Not Annualised)
(18.51) 5.68 4.42 (5.48) 16.65 a) Basic(") (6.85) 4.62 3.98 6.33 14.80
(18.50) 5.68 4.42 (5.48) 16.65 b) Diluted (") (6.85) 4.62 3.98 6.32 14.80

0.25 0.22 0.07 0.25 0.07 5 Debt-Equity ratio (Non-Current+ Current Borrowings)/ (Total Equity) 0.21 0.19 0.00 0.21 0.00

- - 0.08 - 0.08 6 Long term debt to working capital (Non current borrowings/ Net working capital) - - - - -
0.17 0.16 0.06 0.17 0.06 7 Total Debts to total assets ratio (Short term debt+ Long term debt)/ Total assets 0.15 0.15 0.00 0.15 0.00
(9.71) 9.02 2.50 (0.02) 3.68 8 Debt service coverage ratio (PAT+ Finance Cost+ Depreciation and Amortization expense (5.90) 13.57 97.08 4.21 99.31
+ (Profit)/ Loss on sale of fixed assets))/ (Finance Cost+ Repayment of long term
borrowings including current mat urity of long term debt+ Repayment of lease liabilities)

(22.38) 10.52 10.90 (0.06) 12.02 9 Interest service coverage ratio (PAT+ Finance Cost+ Depreciation and Amortization (17.32) 14.83 422.52 6.77 529.25
expense+ (Profit)/ Loss on sale of fixed assets)/ (Finance Cost)

0.99 1.00 1.76 0.99 1.76 10 Current ratio (Current Assets/ Current Liabilities) 0.90 0.79 3.03 0.90 3.03
0% 0.00 0.00 0% 0.00 11 Bad debts to Accounts receivable ratio (in %) (Bad debts/ Average trade receivable) 0% 0% 0% 0% 0%

0.95 0.96 0.89 0.95 0.89 12 Current liability ratio (Current Liabilities/ Total Liabilities) 0.96 0.97 0.92 0.96 0.92
9.03 10.33 7.96 10.05 11.18 13 Debtors Turnover ratio (in times) - (Sale of products/ Average trade receivables)- 16.88 20.33 22.35 20.36 22.90
Annualised
9.97 9.58 7.96 9.95 7.20 14 Inventory turnover (in times) -(Sale of products/ Average Inventory)- Annualised 12.41 12.32 11.61 13.35 10.89
22.5% 24.7% 20.8% 21.8% 19.1% 15 Op~era1 · ~ .u . ;"%[(Profit before Depreciation, Interest, Tax, exceptional items and 26.6% 29.4% 26.4% 26.7% 24.4%
fo & et~ ss less other income)/ Total Revenue from Operations)
0 \.\thf\001. ,()
~ Central B w,ng and
01tnC w,ng
-56.3% 16.0% 14.3% -4.0% 12.9% 16 Ne pro~!stna~!!f•in % ifr1f it after tax/ Net sales) ,,..-_.-.c.· -34.9% 21.9% 22.8% 7.8% 20.1%
" ~1gnway.
western £<p1ess
Goiegaon (East).
<n
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0~ Mumbai [;
. 400 063 '!>-.'7:f

~
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ered Acco ~ 400079. §"
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 GODREJ CONSUMER PRODUCTS LIMITED
CIN No.: L24246MH2000PLC129806
STANDALONE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED MARCH 31, 2024
Rs. Crores
Year ended March Year ended
31, 2024 March 31, 2023

A. CASH FLOW FROM OPERATING ACTIVITIES

Profit Before Tax 1,284.84 1,869.60
Adjustments for :
Non-Cash Items
Depreciation and amortization expenses 126.88 107.99
Unrealised Foreign Exchange (Gain)/ Loss 3.40 (3.95)
Bad Debts Written off 0.03 1.36
Provision/ Written off/(back) for Doubtful Debts/ Advances (4.91) 7.15
(Release)/ Provision/ write off for Non Moving Inventory 4.68 (15.17}
(Release)/ Provision towards Litigations (10.75} 10.62
Charge/(release) of Old Balances (1.27) (1.07}
Expenses on Employee Stock Grant Scheme (ESGS) 24.25 20.16
Provision/ (Reversal) for diminution in the value of investments 273.90 8.82
Finance cost 134.10 3.07
(Profit) /Loss on sale of Property, Plant & Equipment and Intangible assets (net) (0.33) 0.03
(Profit) on Sale of Investments (net) (39.27) (21.87)
Fair value (Gain) on financial assets measured at FVTPL (net) (4.44) (5.83)
Interest Income (162.78) (88.93)
Dividend Income (234.90) -
(Gain)/Loss on sale of subsidiaries (net) 790.38 -
898.97 22.38
Operating Cash Flows Before Working Capital Changes 2,183.81 1,891.98

Adjustments for :
Decrease/(lncrease) in inventories (15.64) 214.41
Decrease/(lncrease) in trade receivables (103.51) 11.94
Decrease in loans 0.06 -
(Increase) in other financial assets (0.33) 9.42
Decrease/ (Increase) in other non-financial assets (63.31) 79.05
Increase in trade payables, Current liabilities and other financial liabilities 132.12 109.06
Increase/ (Decrease) in non - financial liabilities and provisions (34.13) (8.41)
(84.74) 415.47
Cash Generated from Operating Activities 2,099.07 2,307.45
Adjustment for :
Income Taxes paid (net) (275.85) (330.46)

Net Cash Flow from Operating Activities ( A ) 1,823.22 1,976.99

B. CASH FLOW FROM INVESTING ACTIVITIES

Proceeds from sale of property, plant & equipment and intangible assets 5.56 2.50
Amount paid for business combination (net of any cash and cash equivalents taken over) (2,716.29) -
Purchase of property, plant & equipment and intangible assets (190.13) (164.65)
Purchase of Non-Current Investments (1,006.16) (198.88)
Proceeds/ (Purchase) of current Investments - net 778.09 (993.61)
Investments in subsidiaries (244.26) (698.55)
Proceeds from divestment of subsidiary 30.54 -
Dividend Received 234.90 -
Interest Received 127.72 49.45
Net Cash Flow (used in) in Investing Activities ( B) (2,980.03) (2,003.74)
 GODREJ CONSUMER PRODUCTS LIMITED
CIN No.: L24246MH2000PLC129806
STANDALONE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED MARCH 31, 2024
Rs. Crores
Year ended March Year ended
31, 2024 March 31, 2023

C. CASH FLOW FROM FINANCING ACTIVITIES

Proceeds from Allotment of Equity Shares under Employee Stock Grant Scheme 0.01 0.01
Proceeds from short term borrowings (Net) l,9S0.08 23.82
Finance Cost paid (125.63) (0.31)
Dividend Paid (511.41) -
Principal Payment of lease liabilities (71.37) (11.53)
Finance cost paid towards Lease liabilities (2.49) (2.76)
Net Cash Flow generated from / (used in) Financing Activities ( C ) 1,239.19 9.23

NET INCREASE/ (DECREASE) IN CASH AND CASH EQUIVALENTS (A+B+C) 82.38 (17.53)

CASH AND CASH EQUIVALENTS

As at the beginning of the year 17.69 35.23
Unrealised Foreign Exchange Restatement in Cash and Cash Equivalents (0.01) (0.01)
As at the end of the year 100.06 17.69
NET INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS 82.38 (17.53)
* amount less than ~ 0.01 crore
 GODREJ CONSUMER PRODUCTS LIMITED
CIN No.: L24246MH2000PLC129806
CONSOLIDATED STATEMENT OF CASH FLOWS

Year ended Year ended

March 31, 2024 March 31, 2023

A. CASH FLOW FROM OPERATING ACTIVITIES

Profit Before Tax 198.23 2,132.73
Adjustments for :
Non-Cash Items
Depreciation and amortization expenses 240.96 236.29
Unrealised Foreign Exchange Loss/(Gain) 1.83 (10.26)
Bad Debts Written off 4.79 5.40
Provision/ Write off for Doubtful Debts/ Advances 9.78 6.46
Provision/ write off for Non Moving Inventory 87.46 3.05
(Write back)/ Provision towards Litigations (12.20) 10.62
(Write back) of Old Balances (1.27) {1.07)
Expenses on Employee Stock Grant Scheme (ESGS) 24.25 20.16
Impairment on intangible assets 1,390.75 6.03
Finance cost 296.37 175.74
(Profit) on sale of Property, Plant & Equipment and Intangible assets (net) (6.18) (1.24)
(Profit) on Sale of Investments (net) (54.73) (22.24)
Fair value (Gain) on financial assets measured at FVTPL (net) (4.44) (5.83)
Interest Income (186.93) (121.47)
Loss on Sale of subsidiary 822.01
Loss on Sale of business 45.43
Adjustment due to hyperinflation 43.68 41.39
2,701.56 343.03
Operating Cash Flows Before Working Capital Changes 2,899.79 2,475.76

Adjustments for :
(lncrease)/Decrease in inventories (71.47) 555.00
(Increase) in trade receivables (478.52) (165.16)
Decrease in loans 0.06
(lncrease)/Decrease in other financial assets (13.68) 8.03
Decrease in other non-current assets 0.21 8.69
(Increase) in other current assets (169.09) 56.40
Increase /(Decrease) in trade and other payables 91.43 (370.03)
Increase in other financial liabilities 75.21 4.05
lncrease/(Decrease) in other liabilities and provisions 109.91 (3.64)
(455.94) 93.34
Cash Generated from Operating Activities 2,443.85 2,569.10
Adjustment for :
Income Taxes paid (net) (373.90) (418.45 )
Net Cash Flow from Operating Activities ( A ) 2,069.95 2,150.65

B. CASH FLOW FROM INVESTING ACTIVITIES

Proceeds from sale of property, plant & equipment and intangible assets 30.63 7.66
Purchase of property, plant & equipment and intangible assets (307.19) {227.40)
Purchase of non-current investments (1,006.00) (674.88)
Proceeds from sale of non-current Investments 46.44 25.20
Proceeds /(Purchase) of current investments (Net) 346.54 (988.01)
Proceeds from Sale of Subsidiary and business 25.90
Payment of liabilities for Business Acquisitions (14.20) (11.82)
Amount paid for business combination (net of cash and cash equivalents taken over) (2,716.29)
Interest Received 231.14 110.91
Net Cash Flow (used in) in Investing Activities ( BI (3,363.03) (1,758.34)

C. CASH FLOW FROM FINANCING ACTIVITIES

Proceeds from Allotment of Equity Shares under Employee Stock Grant Scheme 0.01 0.01
Proceeds/ (repayments) of short term borrowings (Net) 2,681.18 (223.64)
Repayments of long term borrowings (416.00) (410.72)
Finance Cost paid (262.03) (111.62)
Dividend Paid (511.40)
Principal Payment of lease liabilities (79.97) (40.62)
Finance cost paid towards Lease liabilities (5.44) (7.72)
Net Cash Flow from/ (used in) Financing Activities ( C) 1,406.35 (794.31)

NET INCREASE/ (DECREASE) IN CASH A 113.27 402.00)

 GODREJ CONSUMER PRODUCTS LIMITED
CIN No.: L24246MH2000PLC129806
CONSOLIDATED STATEMENT OF CASH FLOWS
"Crore
Year ended Year ended
March 31, 2024 March 31, 2023

CASH AND CASH EQUIVALENTS:

As at the beginning of the year •• 357.62 750.92
Less: Cash credit (4.82) (0.06)
Effect of exchange difference on translation of cash and cash equivalents on consolidation (67.17) 3.94
As at the end of the year•• 402.78 357.62
Less: Cash credit (3.88) (4.82)
NET INCREASE/ (DECREASE) IN CASH AND CASH EQUIVALENTS 113.27 (402.00)
**Cash and Cash equivalents includes cash credits, that are repayable on demand and form an integral part of Group's cash management.
 GODREJ CONSUMER PRODUCTS LIMITED
Regd. Office: Godrej One, 4th Floor, Pirojshanagar, Eastern Express Highway, Vikhroli, Mumbai 400 079 www.godrejcp.com
AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2024
Notes

1 The above results which are published in accordance with Regulation 33 and Regulation 52(4) of the SEBI (Listing Obligations &
Disclosure Requirements) Regulations, 2015 have been reviewed by the Audit Committee and approved by the Board of Directors at
their meetings held on May 6, 2024. The financial results are in accordance with the Indian Accounting Standards (Ind-AS) as prescribed
under Section 133 of the Companies Act, 2013, read with the relevant Rules thereunder. These results have been subjected to an audit
by the Statutory Auditors of the Company who have issued unmodified audit reports thereon.

2 During the quarter ended March 31, 2024, the Group refreshed its long-term strategy for Africa (including Strength of Nature) enhancing
the focus on 'profitable' growth. The strategy refresh resulted in various reorganisation actions during the quarter. The future
projections were also revised based on the revised strategy and changed external market conditions. For the year ended March 31,
2024, exceptional items in the Consolidated financial results include impairment loss of" 1,390.8 crore towards Brand and Goodwill for
Africa (including Strength Of Nature) and, 927.2 crore relating to loss on sale of subsidiaries and business in East Africa pursuant to
changes in business model and long term strategy for Africa (including Strength Of Nature), and, 71.0 crore on account of other group
restructuring costs, including employees' severance pay and inventory related costs etc necessitated by the restructuring. Exceptional
items also include Stamp duty payment and other costs in relation to acquisition of Raymond Consumer Care Business of, 87.8 crore.
For the year ended March 31, 2023, exceptional items include impairment loss of, 6.0 crore towards brands, restructuring costs of,
29.3 crore and, 18.8 crore on account of litigation settlement under VAT amnesty scheme in the Consolidated Financial Results.

During the year ended March 31, 2024, the Company has exceptional items comprising loss on sale of investment in Godrej East Africa
Holdings Limited of, 792.6 Crore and impairment provision for diminution in value of investment in Godrej Mauritius Africa Holdings
Limited of, 273.9 crore pursuant to changes in business model and long-term strategy refresh for Africa, and gain of Rs 2.3 crores on
account of sale of long term investment. The future projections were also revised based on the revised strategy and changed external
market conditions. Exceptional items also include Stamp duty payment and other costs in relation to acquisition of Raymond Consumer
Care Business of, 87.8 crore and, 0.8 crore as other restructuring costs in the Standalone Financial Results. For the year ended March
31, 2023, the Company has exceptional items comprising impairment of investment in a subsidiary of~ 8.8 crore and , 18.8 crore on
account of litigation settlement under VAT amnesty scheme, in the Standalone Financial Results.

3 During the year ended March 31, 2024, the Company has granted 3,24,671 grants to eligible employees under the Employees Stock
Grant Scheme (ESGS) and has allotted 1,25,011 equity shares of face value Re. 1 each upon exercise of stock grants under ESGS.

4 Segment information as per Ind-AS 108, 'Operating Segments' is disclosed in Annexure-1.

5 On May 8, 2023, the Company acquired the FMCG business of Raymond Consumer Care Limited through a slump sale for consideration
of, 2,825 crore. The fair value of assets and liabilities acquired have been determined and accounted in accordance with IND AS 103 -
"Business Combinations".
Results for the year ended March 31, 2024 include the impact of the above transaction with effect from May 8, 2023 and are not
comparable with previous corresponding periods.

6 During the year ended March 31, 2024, the Company received dividend of , 106.48 crores from Godrej South Africa Pty Ltd and Rs
128.42 Crores from Godrej Netherland B.V., its wholly owned subsidiaries, which is reported under "other income" in the standalone
financial results.

7 The Board declared interim dividend at the rate of, 10 per share {1000% on the face value of~ ,1 each) on May 6, 2024. The record
date for the same is May 14, 2024.

8 Ind AS 29 "Financial Reporting in Hyperinflationary Economies" has been applied to the Group's entities with a functional currency of
Argentina Peso for the year ended March 31, 2024. Ind AS 21 "The Effects of Changes in Foreign Exchange Rates" has been applied to
translate the financial statements of such entities for consolidation. Application of these standards resulted into decrease in revenue
from operations by, 13.6 crore and decrease in profit by , 138.3 crore for the year ended March 31, 2024 and increase in net non-
monetary assets by, 38.3 crore with corresponding increase in total Equity as of March 31,2024.

9 The figures for three months ended March 31, 2024 and March 31, 2023 are arrived at as difference between audited figures in respect
of full financial year and the unaudited figures upto nine months ended December 31 of the relevant financial year. Also, the figures

upto the en ~:::•=•=:•_c.. nly been reviewed and not subjected to audit.
By Order of the Board
For Godrej Consumer Products Lifited

~~
Executive Chairperson
 14th Floor, Central B Wing and North C Wing
BS R & Co. LLP Nesco IT Park 4, Nesco Center
Western Express Highway
Chartered Accountants
Goregaon (East), Mumbai - 400 063, India
Telephone: +91 (22) 6257 1000
Fax: +91 (22) 6257 1010

lndeoendent Auditor's Reoort

To the Board of Directors of Godrej Consumer Products Limited
Report on the audit of the Standalone Annual Financial Results

Opinion

We have audited the accompanying standalone annual financial results of Godrej Consumer Products
Limited {hereinafter referred to as the "Company") for the year ended 31 March 2024, attached herewith,
(in which are included financial results/financial information of one branch in Singapore), being submitted
by the Company pursuant to the requirement of Regulation 33 and Regulation 52(4) of the Securities and
Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as
amended ("Listing Regulations"), as prescribed in Securities and Exchange Board of India operational
circular SEBI/HO/DDHS/P/CIR/2021/613 dated 10 August 2021.
In our opinion and to the best of our information and according to the explanations given to us.and based
on report of branch auditor on audited financial results/ financial information of the branch, the aforesaid
standalone annual financial results:
a. are presented in accordance with the requirements of Regulation 33 and Regulation 52(4) of the
Listing Regulations, as prescribed in Securities and Exchange Board of India operational circular
SEBI/HO/DDHS/P/CIR/2021/613 dated 10 August 2021 in this regard; and
b. give a true and fair view in conformity with the recognition and measurement principles laid down in
the applicable Indian Accounting Standards, and other accounting principles generally accepted in
India, of the net profit and other comprehensive income and other financial information for the year
ended 31 March 2024.
I

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing ("SAs") specified under section
143(10) of the Companies Act, 2013 ("the Act"). Our responsibilities under those SAs are further described
in the Auditor's Responsibilities for the Audit of the Standalone Annual Financial Results section of our
report. We are independent of the Company, in accordance with the Code of Ethics issued by the Institute
of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of
the financial statements under the provisions of the Act, and the Rules thereunder, and we have fulfilled
our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We
believe that the audit evidence obtained by us.along with the consideration of report of branch auditor
referred to in sub paragraph no. (a) of the "Other Matters" paragraph below, is sufficient and appropriate
to provide a basis for our opinion on the standalone annual financial results.

Management's and Board of Directors' Responsibilities for the Standalone Annual Financial
Results

These standalone annual financial results have been prepared on the basis of the standalone annual
financial statements.
The Company's Management and the Board of Directors are responsible for the preparation and
presentation of these standalone annual financial results that give a true and fair view of the net profit/
loss and other comprehensive income and other financial information in accordance with the recognition
and measurement principles laid down in Indian Accounting Standards prescribed under Section 133 of
the Act and other accounting principles generally accepted in India and in compliance with Regulation 33
and Regulation 52(4) of the Listing Regulations, as prescribed in Securities and Exchange Board of India
Registered Office:

BS R & Co. (a partnership flnn with REigistration No. BA61223) converted into BS R & Co. LLP (a 14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco
Limited Liability Partnership with LLP Registration No. MB-8181) with effect from October 14, 2013 Center, Western Express Highway, Goregaon (East), Mumbai ~ 400063
Page 1 of 3
BS R & Co. LLP

Independent Auditor's Report (Continued)

Godrej Consumer Products Limited
operational circular SEBI/HO/DDHS/P/CIR/2021/613 dated 10 August 2021. This responsibility also
includes maintenance of adequate accounting records in accordance with the provisions of the Act for
safeguarding of the assets of the Company and for preventing and detecting frauds and other
irregularities; selection and application of appropriate accounting policies; making judgments and
estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate
internal financial controls, that were operating effectively for ensuring accuracy and completeness of the
accounting records, relevant to the preparation and presentation of the standalone annual financial results
that give a true and fair view and are free from material misstatement, whether due to fraud or error.
In preparing the standalone annual financial results, the Management and the Board of Directors are
responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable,
matters related to going concern and using the going concern basis of accounting unless the Board of
Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative
but to do so.
The Board of Directors are responsible for overseeing the Company's financial reporting process.

Auditor's Responsibilities for the Audit of the Standalone Annual Financial Results

Our objectives are to obtain reasonable assurance about whether the standalone annual financial results
as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's
report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee
that an audit conducted in accordance with SAs will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate,
they could reasonably be expected to influence the economic decisions of users taken on the basis of
these standalone annual financial results.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional
skepticism throughout the audit. We also:
Identify and assess the risks of material misstatement of the standalone annual financial results,
whether due to fraud or error, design and perform audit procedures responsive to those risks, and
obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of
not detecting a material misstatement resulting from fraud is higher than for one resulting from error,
as fraud may involve collusion , forgery, intentional omissions, misrepresentations, or the override of
internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures
that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible
for expressing our opinion through a separate report on the complete set of financial statements on
whether the company has adequate internal financial controls with reference to financial statements
in place and the operating effectiveness of such controls.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures in the standalone annual financial results made by the Management
and Board of Directors.
- Conclude on the appropriateness of the Management and Board of Directors' use of the going
concern basis of accounting and, based on the audit evidence obtained, whether a material
uncertainty exists related to events or conditions that may cast significant doubt on the
appropriateness of this assumption. If we conclude that a material uncertainty exists, we are required
to draw attention in our auditor's report to the related disclosures in the standalone annual financial
results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on
the audit evidence obtained up to the date of our auditor's report. However, future events or conditions
may cause the Company to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the standalone annual financial results,
including the disclosures, and whether the standalone annual financial results represent the
underlying transactions and events in a manner that achieves fair presentation.
- Obtain sufficient appropriate audit evidence regarding the financial results/ financial information of the
branch of the Company to express an opinion on the standalone annual financial results. For the
Page 2 of 3
 BS R & Co. LLP

Independent Auditor's Report (Continued)

Godrej Consumer Products Limited
branch included in the standalone annual financial results, which has been audited by branch auditor,
such branch auditor remain responsible for the direction, supervision and performance of the audit
carried out by them. We remain solely responsible for our audit opinion. Our responsibilities in this
regard are further described in sub paragraph no. (a) of the "Other Matters" paragraph in this audit
report.
We communicate with those charged with governance regarding, among other matters, the planned scope
and timing of the audit and significant audit findings, including any significant deficiencies in internal control
that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant
ethical requirements regarding independence, and to communicate with them all relationships and other
matters that may reasonably be thought to bear on our independence, and where applicable, related
safeguards.

Other Matters

a. The standalone annual financial results include the audited financial results of one branch, whose
financial results/ financial information reflect total assets of Rs. 0.21 crores as at 31 March 2024, total
revenue of Rs. 1.33 crores, total net profit after tax of Rs. 0.12 crores and net cash inflows of Rs. 0.11
crores for the year ended on that date, before giving effect to consolidation adjustments as considered
in the standalone annual financial results, which has been audited by its branch auditor. The branch
auditor's report on financial results/ financial information of this branch has been furnished to us by
the management.
Our opinion on the standalone annual financial results, in so far as it relates to the amounts and
disclosures included in respect of this branch, is based solely on the report of such auditor.
Our opinion is not modified in respect of this matter.
b. The standalone annual financial results include the results for the quarter ended 31 March 2024 being
the balancing figure between the audited figures in respect of the full financial year and the published
unaudited year to date figures up to the third quarter of the current financial year which were subject
to limited review by us.

For B S R & Co. LLP

Chartered Accountants
Firm's Registration No.:101248W/W-100022

Vijay Mathur

Partner
Mumbai Membership No.: 046476
06 May 2024 UDIN:24046476BKGPAW8375

Page 3 of 3
 14th Floor, Central B Wing and North C Wing
BS R & Co. LLP Nesco IT Park 4, Nesco Center
Western Express Highway
Chartered Accountants
Goregaon (East), Mumbai - 400 063, India
Telephone: +91 (22) 6257 1000
Fax: +91 (22) 6257 1010

lndeoendent Auditor's Reoort

To the Board of Directors of Godrej Consumer Products Limited
Report on the audit of the Consolidated Annual Financial Results

Opinion
I

We have audited the accompanying consolidated annual financial results of Godrej Consumer Products
Limited (hereinafter referred to as the "Holding Company") and its subsidiaries (Holding Company and its
subsidiaries together referred to as "the Group"), for the year ended 31 March 2024, attached herewith,
(in which are included financial results/ financial information of one branch in Singapore), being submitted
by the Holding Company pursuant to the requirement of Regulation 33 and Regulation 52(4) of the
Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations,
2015, as amended ("Listing Regulations"), as prescribed in Securities and Exchange Board of India
operational circular SEBI/HO/DDHS/P/CIR/2021/613 dated 10 August 2021.
In our opinion and to the best of our information and according to the explanations given to us and based
on the consideration of report of the branch auditor on audited financial results/ financial information of
the branch and reports of the other auditors on separate/ consolidated audited financial results/financial
information of the subsidiaries, the aforesaid consolidated annual financial results:
a. include the annual financial results of the entities mentioned in Annexure I;
b. are presented in accordance with the requirements of Regulation 33 and Regulation 52(4) of the
Listing Regulations, as prescribed in Securities and Exchange Board of India operational circular
SEBI/HO/DDHS/P/CIR/2021/613 dated 10 August 2021 in this regard; and
c. give a true and fair view in conformity with the recognition and measurement principles laid down in
the applicable Indian Accounting Standards, and other accounting principles generally accepted in
India, of consolidated net profit and other comprehensive loss and other financial information of the
Group for the year ended 31 March 2024.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing ("SAs") specified under section
143(10) of the Companies Act, 2013 ("the Act"). Our responsibilities under those SAs are further described
in the Auditor's Responsibilities for the Audit of the Consolidated Annual Financial Results section of our
report. We are independent of the Group in accordance with the Code of Ethics issued by the Institute of
Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the
financial statements under the provisions of the Act, and the Rules thereunder, and we have fulfilled our
other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe
that the audit evidence obtained by us along with the consideration of report of the branch auditor and
reports of other auditors referred to in sub paragraph no. (a) of the "Other Matters" paragraph below, is
sufficient and appropriate to provide a basis for our opinion on the consolidated annual financial results.

Management's and Board of Directors' Responsibilities for the Consolidated Annual Financial
Results

These consolidated annual financial results have been prepared on the basis of the consolidated annual
financial statements.
The Holding Company's Management and the Board of Directors are responsible for the preparation and
presentation of these consolidated annual financial results that give a true and fair view of the consolidated

Registered Office:

BS R & Co. (a partnership firm wtth Registration No. BA61223) converted Into BS R & Co. LLP (a 14th Floor, Central 8 Wing and North C Wing, Nesco IT Park 4, Nesco
Limited Liability Partnership with LLP Registration No. MB-8181) with effect from October 14, 2013 Center, Western Express Highway, Goregaon (East), Mumbai - 400063
Page 1 of7
BS R & Co. LLP

Independent Auditor's Report (Continued)

Godrej Consumer Products Limited
net profit/ loss and other comprehensive income and other financial information of the Group in
accordance with the recognition and measurement principles laid down in Indian Accounting Standards
prescribed under Section 133 of the Act and other accounting principles generally accepted in India and
in compliance with Regulation 33 and Regulation 52(4) of the Listing Regulations, as prescribed in
Securities and Exchange Board of India operational circular SEBI/HO/DDHS/P/CIR/2021/613 dated 10
August 2021. The respective Management and Board of Directors of the companies included in the Group
are responsible for maintenance of adequate accounting records in accordance with the provisions of the
Act for safeguarding of the assets of each company and for preventing and detecting frauds and other
irregularities; selection and application of appropriate accounting policies; making judgments and
estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate
internal financial controls, that were operating effectively for ensuring accuracy and completeness of the
accounting records, relevant to the preparation and presentation of the consolidated annual financial
results that give a true and fair view and are free from material misstatement, whether due to fraud or
error, which have been used for the purpose of preparation of the consolidated annual financial results by
the Management and the Board of Directors of the Holding Company, as aforesaid.
In preparing the consolidated annual financial results, the respective Management and the Board of
Directors of the companies included in the Group are responsible for assessing the ability of each
company to continue as a going concern, disclosing, as applicable, matters related to going concern and
using the going concern basis of accounting unless the respective Board of Directors either intends to
liquidate the company or to cease operations, or has no realistic alternative but to do so.
The respective Board of Directors of the companies included in the Group is responsible for overseeing
the financial reporting process of each company.

Auditor's Responsibilities for the Audit of the Consolidated Annual Financial Results

Our objectives are to obtain reasonable assurance about whether the consolidated annual financial results
as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's
report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee
that an audit conducted in accordance with SAs will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate,
they could reasonably be expected to influence the economic decisions of users taken on the basis of
these consolidated annual financial results.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional
skepticism throughout the audit. We also:
Identify and assess the risks of material misstatement of the consolidated annual financial results,
whether due to fraud or error, design and perform audit procedures responsive to those risks, and
obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of
not detecting a material misstatement resulting from fraud is higher than for one resulting from error,
as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of
internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures
that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible
for expressing our opinion through a separate report on the complete set of financial statements on
whether the company has adequate internal financial controls with reference to financial statements
in place and the operating effectiveness of such controls.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures in the consolidated annual financial results made by the
Management and Board of Directors.
Conclude on the appropriateness of the Management and Board of Directors' use of the going
concern basis of accounting and, based on the audit evidence obtained, whether a material
uncertainty exists related to events or conditions that may cast significant doubt on the
appropriateness of this assumption. If we conclude that a material uncertainty exists, we are required
to draw attention in our auditor's report to the related disclosures in the consolidated annual financial
results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on
the audit evidence obtained up to the date of our auditor's report. However, future events or conditions
Page 2 of?

~
 BS R & Co. LLP

Independent Auditor's Report (Continued)

Godrej Consumer Products Limited
may cause the Group to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the consolidated annual financial results,
including the disclosures, and whether the consolidated annual financial results represent the
underlying transactions and events in a manner that achieves fair presentation.
- Obtain sufficient appropriate audit evidence regarding the financial results/financial information of the
entities within the Group to express an opinion on the consolidated annual financial results. We are
responsible for the direction, supervision and performance of the audit of financial results/financial
information of such entities included in the consolidated annual financial results of which we are the
independent auditors. For the other entities included in the consolidated annual financial results,
which have been audited by other auditors, such other auditors remain responsible for the direction,
supervision and performance of the audits carried out by them. We remain solely responsible for our
audit opinion. Our responsibilities in this regard are further described in sub paragraph no. (a) of the
"Other Matters" paragraph in this audit report.
We communicate with those charged with governance of the Holding Company, among other matters, the
planned scope and timing of the audit and significant audit findings, including any significant deficiencies
in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant
ethical requirements regarding independence, and to communicate with them all relationships and other
matters that may reasonably be thought to bear on our independence, and where applicable, related
safeguards.
We also performed procedures in accordance with the circular No CIR/CFD/CMD1/44/2019 issued by the
Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent
applicable.

Other Matters

a. The consolidated annual financial results include the audited financial results of one branch, whose
financial results/ financial information reflect total assets of Rs. 0.21 crores as at 31 March 2024, total
revenue of Rs. 1.33 crores, total net profit after tax of Rs. 0.12 crores and net cash inflows of Rs. 0.11
crores for the year ended on that date, before giving effect to consolidation adjustments, as
considered in the consolidated annual financial results, which has been audited by its branch auditor.
The branch auditor's report on financial results/ financial information of this branch has been furnished
to us by the management.
Our opinion on the consolidated annual financial results, in so far as it relates to the amounts and
disclosures included in respect of this branch, is based solely on the report of such auditor and the
procedures performed by us are as stated in paragraph above.
The consolidated annual financial results include the audited financial results of 33 subsidiaries,
whose financial results/ financial information reflect total assets of Rs. 5,899.71 crores as at 31 March
2024, total revenue of Rs. 7,022.14 crores, total net profit after tax of Rs. 343.05 crores and net cash
outflows of Rs. 30.28 crores for the year ended on that date, before giving effect to consolidation
adjustments, as considered in the consolidated annual financial results, which has been audited by
their respective independent auditors. The independent auditor's report on financial results/ financial
information of these subsidiaries has been furnished to us by the management.
Our opinion on the consolidated annual financial results, in so far as it relates to the amounts and
disclosures included in respect of these subsidiaries, is based solely on the report of such auditor and
the procedures performed by us are as stated in paragraph above.
Our opinion on the consolidated annual financial results is not modified in respect of the above matters
with respect to our reliance on the work done and the reports of the other auditors.
b. The consolidated annual financial results include the unaudited financial results of 2 subsidiaries,
whose financial results/ financial information reflect total assets of Rs. Nil crores as at 31 March 2024,
total revenue of Rs. Nil, total net profit after tax of Rs. 30.92 crores and net cash flows of Rs. Nil crores

Page 3 of7
 BS R & Co. LLP

Independent Auditor's Report (Continued)

Godrej Consumer Products Limited
for the year ended on that date, before giving effect to consolidation adjustments, as considered in
the consolidated annual financial results. These unaudited financial results/ financial information have
been furnished to us by the Board of Directors.
Our opinion on the consolidated annual financial results, in so far as it relates to the amounts and
disclosures included in respect of these subsidiaries, is based solely on such unaudited financial
results/financial information. In our opinion and according to the information and explanations given
to us by the Board of Directors, these financial results / financial information are not material to the
Group.
Our opinion on the consolidated annual financial results is not modified in respect of the above matter
with respect to the financial results/ financial information certified by the Board of Directors.
c. The consolidated annual financial results include the results for the quarter ended 31 March 2024
being the balancing figure between the audited figures in respect of the full financial year and the
published unaudited year to date figures up to the third quarter of the current financial year which
were subject to limited review by us.

For B S R & Co. LLP

Chartered Accountants
Firm's Registration No.:101248W/W-100022

;-

Vijay Mathur
Partner
Mumbai Membership No.: 046476
06 May 2024 UDIN:24046476BKGPAX5354

Page 4 of 7
BS R & Co. LLP

Independent Auditor's Report (Continued)

Godrej Consumer Products Limited
Annexure I

List of entities included in consolidated annual financial results.

Sr. No Name of component Relationship

1 Godrej Consumer Products Parent Company

Limited
-
2 Godrej Netherland B.V. Subsidiary Company
-
3 Godrej UK Ltd Subsidiary Company
-
4 Godrej Consumer Investments Subsidiary Company
Chile Spa

5 Godrej Holdings Chile Limitada Subsidiary Company

r
6 Cosmetica Nacional Subsidiary Company
-- -
7 Godrej South Africa Proprietary Subsidiary Company
Limited
-- -
8 Godrej SON Holdings Inc. Subsidiary Company
-
9 Strength of Nature LLC Subsidiary Company

10 Old Pro International, Inc Subsidiary Company

~ -
11 Godrej Consumer Products Subsidiary Company
Holding Mauritius Limited
--
12 Godrej Global Mideast FZE Subsidiary Company
~- f-

13 Godrej Indonesia IP Holdings Ltd Subsidiary Company

' -
14 Godrej Mid East Holding Limited Subsidiary Company
f- - -~ --- --
15 Godrej CP Malaysia SDN. BHD. Subsidiary Company
- -- -

16 Godrej Consumer Products Dutch Subsidiary Company

Cooperatief UA
l
I
17 Godrej Consumer Products Subsidiary Company
Netherlands B.V.

18 Godrej Consumer Holdings Subsidiary Company

(Netherlands) B.V.
I
19 PT lndomas Susemi Jaya Subsidiary Company

20 PT Godrej Distribution Indonesia Subsidiary Company

21 PT Megasari Makmur Subsidiary Company

22 PT Ekamas Sarijaya Subsidiary Company

I
23 PT Sarico lndah Subsidiary Company

Page 5 of 7
BS R & Co. LLP

Independent Auditor's Report (Continued)

Godrej Consumer Products Limited
Sr. No Name of component Relationship

24 Laboratoria Cuenca Subsidiary Company

25 Consell S.A. (under voluntary Subsidiary Company

liquidation)

26 Deciral S.A. Subsidiary Company

27 Godrej Peru SAC (under Subsidiary Company

voluntary liquidation)
---
28 Issue Group Brazil Limited Subsidiary Company
~

29 Panamar Producciones SA Subsidiary Company

e - ~

30 Godrej Household Products Subsidiary Company

~
Bangladesh Pvt. Ltd.
-
I 31 Godrej Household Products Subsidiary Company
Lanka Pvt. Ltd.
I --- -~ --- -
I
32 Godrej Consumer Products Subsidiary Company
Bangladesh Limited
> -- --- - ~

33 Godrej Mauritius Africa Holdings Subsidiary Company

Limited
- -
34 Darling Trading Company Subsidiary Company
Mauritius Limited
- -- - - -
35 Godrej Consumer Products Subsidiary Company
International FZCO
--- -
36 Godrej Africa Holdings Limited Subsidiary Company
- -- --- -
37 Frika Weave Pty Ltd Subsidiary Company

38 Kinky Group Proprietary Limited Subsidiary Company

39 Lorna Nigeria Limited Subsidiary Company

40 Weave Ghana Subsidiary Company

41 Weave Trading Mauritius Pvt. Ltd. Subsidiary Company

42 Hair Trading Offshore SAL. Subsidiary Company

43 Godrej West Africa Holdings Subsidiary Company

Limited

44 Subinite Pty Ltd Subsidiary Company

45 Weave IP Holdings Mauritius Pvt. Subsidiary Company

Ltd.

46 Weave Mozambique Limitada Subsidiary Company

47 Godrej Nigeria Limited Subsidiary Company

Page 6 of 7

~
BS R & Co. LLP

Independent Auditor's Report (Continued)

Godrej Consumer Products Limited
-
Sr. No Name of component Relationship
- -
48 Godrej East Africa Holdings Subsidiary Company
Limited (upto 26th March, 2024)
-
49 DGH Phase Two Mauritius Subsidiary Company
(merged with Godrej Africa
Holdings Limited w.e.f. 12th

l
I
September, 2023 )

50 Style Industries Limited

- --

Subsidiary Company
-

> - -
51 Charm Industries Limited (upto Subsidiary Company
26th March, 2024)
r--- --
52 Canon Chemicals Limited Subsidiary Company
I
I
53 Godrej Tanzania Holdings Limited Subsidiary Company
- -
54 DGH Tanzania Limited (upto 26th Subsidiary Company
I March, 2024)
f - - -
55 Sigma Hair Industries Ltd. (upto Subsidiary Company
26th March, 2024)
- -
56 Hair Credentials Zambia Limited Subsidiary Company
i----
57 Belaza Mozambique LDA Subsidiary Company
I ·-

58 Weave Senegal Ltd (upto 31st Subsidiary Company

March, 2024)
--
i 59 Godrej Consumer Care Limited Subsidiary Company
(w.e.f. January 4, 2022)
~ -->- -
60 Godrej Consumer Products Subsidiary Company
Limited Employees' Stock Option
Trust

61 lndovest Capital (upto 8th Subsidiary Company

February, 2024)
·-

62 Godrej Consumer Supplies Ltd Subsidiary Company

(w.e.f. 15th December, 2023)
-

Page 7 of 7