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Godrej Consumer Products ltd. Regd. Office: God'ej One, 4th Floor, Pirojshanagar. Eastern Express Highway, Vikh,oli (E), Mumbai 400 079, India. reI.: +91-22-25188010/8020/8030 Fax: +91-22-25188040 Website: www.godrejcp.com CIN : L24246MH2000PLC129806 August 13, 2018 BSE Ltd The National Stock Exchange of India Ltd Corporate Relations Department Exchange Plaza, 4th Floor, 1st Floor, Rotunda Bldg., PJ. Towers, Bandra-Kurla Complex, Dalal Street, Mumbai 400 023. Mumbai 400 050 Scrip Code: 532424 Symbol: GODREJCP Dear Sir, Compliance of Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Ustlng Regulations") In compliance with Regulation 34 of the Listing Regulations, please find attached herewith Annual Report for the financial year 2017-18 duly approved and adopted by the shareholders at the 18th Annual General Meeting held on Monday, 30'" July, 2018, at Godrej One, 1" Floor Auditorium, Pirojshanagar, Vikhroli (East), Mumbai- 400079. The Annual Report for the financial year 2017-18 is uploaded on the website of the Company (www.godrejcp.com). This is for your information and record. Yours faithfully, For Godrej consumer~~~~ v~ Chief Financial THE 2017-18 ANNUAL REPORT 2017-18 THE ANNUAL REPORT THE ANNUAL REPORT Godrej One, Pirojshanagar, Eastern Express Highway, Vikhroli (East), Mumbai www.godrejcp.com Visit our GCPL Annual Report microsite This annual report is printed on eco-friendly paper Contents 2 Our Company 8 Board of Directors 10 A message from Nisaba Godrej 11 In conversation with Vivek Gambhir 16 Management Discussion & Analysis 94 Directors’ Report 136 Report on Corporate Governance 154 Standalone Financials 214 Consolidated Financials 296 Corporate Information 297 Notice of the AGM GODREJ CONSUMER PRODUCTS 90+ countries 12,000 Godrejites 1.15 billion consumers INR 96 billion revenue INR 744 billion market cap 23% Forbes #1 of the promoter list of The World’s holding is held in FMCG PHILANTHROPIC company to work for TRUSTS 100 in India Most Innovative GREAT PLACE Growth Companies 2016 TO WORK o02 Godrej Consumer Products HOME Household Air Liquid CARE Insecticides Fresheners Detergents 1 India, Indonesia India, Indonesia India PERSONAL Wet Soaps Depilatory CARE Wipes India Products 1 Indonesia 2 Chile HAIR Hair Ethnic Hair Colours Hair CARE Colours & Hair Extensions Colours 1 India Sub Saharan Africa 2 Argentina, Chile Our Company o03 Strong performance over the last 10 years 9,862 Cr 2,096 Cr ` 1,442 Cr ` ` FY 18 FY 08 1,133 Cr 216 Cr 159 Cr ` ` ` Consolidated EBITDA Net Profit Net Sales A portfolio of power brands `1,000 Cr+ `500 - 1,000 Cr `250 - 500 Cr ~70% Top brands contribution to revenue o04 Godrej Consumer Products Geography Salience Others Africa Latin America 1% 5% 6% UK India Indonesia India 15% 80% 14% 53% FY 08 Africa (incl. SON) FY18 22% UK 5% Category Salience Others Others 27% 17% Personal Wash Personal Air Care 18% Wash 7% 51% FY08 FY18 Hair Care Household Hair Care 22% Insecticides 32% 26% Our Company o05 THE GODREJ WAY To live our purpose, we need to ensure that we are guided by the right values Our Values Trust Be Bold Create Delight - We hold ourselves to the highest - We have bold ambitions. - We place our consumers at the standards of personal and We set the bar high. heart of all we do business integrity We outperform expectations. - We obsess over current and - Our word is stronger than - We adapt, We are agile future needs of our consumers. any contract and resilient. And then deliver. - We put people and our planet - We continuously innovate. - We offer consumers amazing alongside profits We champion new ideas. quality products at great value We take risks. 006 BRINGING THE GOODNESS OF HEALTH AND BEAUTY TO CONSUMERS IN EMERGING MARKETS Own It Be Humble Show Respect - We are 100/0. Take 100% - We own up to and learn from - We treat people like we would accountability with 0 excuses. our mistakes want to be treated - We speak our mind. - We ask for feedback. And then - We embrace and celebrate We challenge the status quo. grow with it. diversity - We focus on the details, but - We give credit wherever due - We foster collaboration never forget the bigger picture 007 BOARD OF DIRECTORS NISABA ADI GODREJ GODREJ Executive Chairman Chairperson Emeritus VIVEK JAMSHYD GAMBHIR N GODREJ Managing Non-Executive Director & CEO Director NADIR TANYA GODREJ DUBASH Non-Executive Non-Executive Director Director PIROJSHA PIPPA GODREJ TUBMAN ARMERDING Non-Executive Director Additional Director 008 NARENDRA BHARAT AMBWANI DOSHI Independent Independent Director Director OMKAR AMAN GOSWAMI MEHTA Independent Independent Director Director NDIDI IREENA NWUNELI VITTAL Independent Independent Director Director 009 A MESSAGE FROM NISABA GODREJ Dear shareholders, our aspirations. We have however, Alongside this, we remain deeply strengthened the foundations of our committed to building a more global and We continue to make strong progress company through the investments we dynamic company. For me personally, on our exciting journey to be a leading are making in people and processes. it is most important that besides our FMCG player in emerging markets. strong financial performance and Fiscal year 2017-18 was a year when The future potential for GCPL is innovative, much-loved products, we we have both achieved and learned. tremendous. Our focus continues to be are also a ‘good’ company. Over the I am proud of the resilience that our on driving market-leading, sustainable last few months, we have done a lot of team continues to show, even as we and profitable growth. Creating delight work around refreshing our purpose navigate macroeconomic challenges for our consumers through innovative, and values - The Godrej Way, as we call in many of our geographies. While we differentiated products, is core to our it. We are very fortunate to be able to delivered competitive and profitable approach. To enable this, we are using draw from the incredible legacy of the growth, our top line growth fell short of the design thinking tools of empathy, Godrej Group and the values of trust, rapid prototyping and visualisation integrity and respect that have held us to reimagine our brands and create in such good stead for over a century new ones. We are accelerating our now. Our purpose at GCPL is to bring innovation pipeline, ramping up the goodness of health and beauty capabilities, investing significantly to consumers in emerging markets. in Research & Development and The Godrej Way is our compass. It is cross-pollinating products across what centers, inspires and provides geographies. Our new products meaning to everything that we do. You launched in the last 5 years account will continue to see it reflected in the for 20 per cent of our global growth choices we make, in our approach to and 35 per cent of India growth. We value creation and how we become are also excited by a lot of the new more ‘Good & Green’. capabilities and transformations we are exploring in digital, advanced A big thank you to our inspiring, analytics, go-to-market and supply committed team members, who make chain technologies. All of this will it possible for us to dream bigger and enable us to create strong value in the bolder. To all our customers, partners, coming years. shareholders and investors, my deep appreciation for your partnership and belief in our company. We will continue to count on your support as we move forward and build towards our best days at GCPL. Nisaba Godrej 010 Executive Chairperson IN CONVERSATION WITH VIVEK GAMBHIR Tell us about The Godrej Way, To live our purpose, we need to need to keep on improving on how your recently articulated ensure that we are guided by the we act on them. They need to be purpose and values for GCPL. right values. We have identified our compass when things are going six core values: Trust (It’s the most right, but more importantly, when Over the last couple of years, we important thing), Be Bold, Create things aren’t – when we need to spent a lot of time reflecting on some Delight, Own It, Be Humble and make the difficult choices, and have fundamental questions. Why do we Show Respect. the tougher conversations. They may exist as an organisation? What will even cost us at times. But this is how build the future of GCPL? What will Our values are both about who we we will keep improving and building inspire our team members to come are and what we want to be. So, new muscle. This is how we will to work and give their best every they aren’t static. They must be challenge ourselves and find new single day? Through this journey, lived and tried every day – and we ways to raise our bar. we have spoken to hundreds of our team members across geographies, studied global best practices and reflected as a senior leadership team. Basis these discussions, we crafted a refreshed version of our fundamental principles, which we call ‘The Godrej Way’. We believe that in over a century, the one thing we’ve never let go of, is trust and being a ‘good’ company. It’s at the heart of everything we do in The Godrej Way. It makes our word stronger than any contract. It challenges us to think beyond limits. And collectively, go beyond what’s expected. It makes us innovate and collaborate to create deeper impact and stronger bonds. It makes us continuously improve productivity and push the limits of service. As we see it, while there are many ways to do business, we choose the Goodness way. So, we have defined our purpose as – ‘Bringing the goodness of health and beauty to consumers in emerging markets’.

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