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We use cutting-edge sustainability features across Godrej One. The Central Atrium lets in natural light, ensuring that our energy requirements are minimised. STANDALONE FINANCIALS • Independent auditor’s report 168 • Balance sheet as at March 31, 2016 176 • Statement of Profit and Loss for the year ended March 31, 2016 177 • Notes to the Financial Statement for the year ended March 31, 2016 180 INDEPENDENT AUDITOR’S REPORT and maintenance of adequate procedures that are appropriate in the TO THE MEMBERS OF GODREJ internal financial controls, that were circumstances. An audit also includes CONSUMER PRODUCTS LIMITED operating effectively for ensuring evaluating the appropriateness of the accuracy and completeness of the accounting policies used and the Report on the Standalone Financial the accounting records, relevant to reasonableness of the accounting Statements the preparation and presentation of estimates made by the Company’s the financial statements that give a Directors, as well as evaluating the We have audited the accompanying true and fair view and are free from overall presentation of the financial standalone financial statements of material misstatement, whether due to statements. GODREJ CONSUMER PRODUCTS fraud or error. LIMITED(“the Company”), which We believe that the audit evidence comprise the Balance Sheet as we have obtained is sufficient and Auditor’s Responsibility at March 31, 2016, the Statement appropriate to provide a basis for of Profit and Loss and the Cash Our responsibility is to express an our audit opinion on the standalone Flow Statement for the year then opinion on these standalone financial financial statements. ended, and a summary of significant statements based on our audit. accounting policies and other We have taken into account the Opinion explanatory information. provisions of the Act, the accounting In our opinion and to the best of and auditing standards and matters our information and according to Management’s Responsibility which are required to be included in the explanations given to us, the for the Standalone Financial the audit report under the provisions aforesaid standalone financial Statements of the Act and the Rules made statements give the information The Company’s Board of Directors thereunder. required by the Act in the manner so is responsible for the matters in We conducted our audit in required and give a true and fair view Section 134(5) of the Companies accordance with the Standards on in conformity with the accounting Act, 2013 (“the Act”) with respect to Auditing specified under Section principles generally accepted in the preparation of these standalone 143(10) of the Act. Those Standards India, of the state of affairs of the financial statements that give a require that we comply with ethical Company as at March 31, 2016 and true and fair view of the financial requirements and plan and perform its profit and its cash flows for the position, financial performance the audit to obtain reasonable year ended on that date. and cash flows of the Company in assurance about whether the financial Emphasis of Matter accordance with the accounting statements are free from material principles generally accepted in misstatement. We draw attention to: India, including the Accounting An audit involves performing Note 11(b) regarding the Scheme Standards specified under Section procedures to obtain audit of Amalgamation of the erstwhile 133 of the Act, read with Rule 7 of evidence about the amounts and Godrej Household Products Limited the Companies (Accounts) Rules, the disclosures in the financial with the Company approved by The 2014. This responsibility also includes statements. The procedures selected Hon’ble High Court of Judicature maintenance of adequate accounting depend on the auditor’s judgment, at Bombay,whereby an amount of records in accordance with the including the assessment of the ` 52.75 crore for the year ended provision of the Act for safeguarding risks of material misstatement of the March 31, 2016, equivalent to the the assets of the Company and for financial statements, whether due to amortization of the Goodknight and preventing and detecting frauds and fraud or error. In making those risk Hit Brands is directly debited to the other irregularities; selection and assessments, the auditor considers General Reserve Account instead of application of appropriate accounting internal financial control relevant to debiting the same to the Statement of policies; making judgments and the Company’s preparation of the Profit and Loss as per the provisions estimates that are reasonable and financial statements that give a true of AS 26.The said accounting prudent; and design implementation and fair view in order to design audit treatment is in accordance with the 168 Annual Report 2015-16 Standalone Financials accounting treatment prescribed described in the Emphasis requiring provision under in the Order of the High Court of of Matter paragraph above, the applicable law or Mumbai dated February 28, 2011 in our opinion, the aforesaid accounting standards. under section 394 of the Companies standalone financial iii. There has been no delay Act, 1956. statements comply with in transferring amounts, Had this amount been charged to the Accounting Standards required to be transferred, the Statement of Profit and Loss, the specified under Section 133 of to the Investor Education profit for the year ended March 31, the Act, read with Rule 7 of the and Protection Fund by the 2016, would have been lower by Companies (Accounts) Rules, Company. ` 52.75 crore and the General 2014. Reserve would have been higher by e) On the basis of the written For KALYANIWALLA & MISTRY ` 52.75 crore. representations received from Chartered Accountants Our opinion is not modified in respect the directors as on March 31, Firm Registration No. 104607W of this matter. 2016 taken on record by the Board of Directors, none of Roshni R. Marfatia Report on Other Legal and the directors is disqualified as Partner Regulatory Requirements on March 31, 2016 from being M. No.: 106548 1. As required by the Companies appointed as a director in (Auditor’s Report) Order, 2016 terms of Section 164 (2) of the Mumbai: May 03, 2016 (“the Order”) issued by the Central Act. Government of India in terms of f) With respect to the adequacy Annexure A to the Independent sub-section (11) of section 143 of of the internal financial controls Auditor’s Report the Act, we give in the Annexure over financial reporting of the Referred to in Para 1 ‘Report on Other A, a statement on the matters Company and the operating Legal and Regulatory Requirements’ specified in the paragraph 3 and 4 effectiveness of such controls, in our Independent Auditors’ Report of the Order. refer to our separate report in to the members of the Company on 2. As required by Section 143 (3) of Annexure B. the standalone financial statements the Act, we report that: g) With respect to the other for the year ended March 31, 2016. a) We have sought and obtained matters to be included in the Statement on Matters specified in all the information and Auditor’s Report in accordance paragraphs 3 & 4 of the Companies explanations which to the with Rule 11 of the Companies (Auditor’s Report) Order, 2016: best of our knowledge and (Audit and Auditors) Rules, i) a) The Company has maintained belief were necessary for the 2014, in our opinion and to the proper records showing purposes of our audit. best of our information and full particulars, including b) In our opinion, proper books according to the explanations quantitative details and of account as required by given to us: situation of fixed assets; law have been kept by the i. The financial statements b) As explained to us, the Company so far as it appears disclose the impact of Company has a program for from our examination of those pending litigations on the physical verification of fixed books. financial position of the assets at periodic intervals. c) The Balance Sheet, the Company – Refer Note 31 In our opinion, the period Statement of Profit and Loss, to the financial statements. of verification is reasonable and the Cash Flow Statement ii. The Company did having regard to the size of the dealt with by this Report are in not have any material Company and the nature of agreement with the books of foreseeable losses on long its assets. The discrepancies account. term contracts including reported on such verification d) Except for the matters derivative contracts are not material and have been Godrej Consumer Products Limited 169 properly dealt with in the books information and however, made a detailed of account. explanations given to us, examination of the records c) According to the information the Company has complied with a view to determine and explanations given to with the provisions of whether they are accurate us and on the basis of our section185and186 of or complete. examination of the records of the Act, with respect vii) a) According to the Company, the title deeds of to investments made, the information and immovable properties are held guarantees given and explanation given to in the name of the Company. securities provided. us and the records ii) The Management has v) In our opinion and examined by us, the conducted physical according to the information Company is generally verification of inventory and explanations given to regular in depositing (excluding stocks lying us, the Company has not undisputed statutory with third parties) at accepted any deposits dues, including dues reasonable intervals. In from the public within pertaining to provident respect of inventory lying the meaning of section fund, Employees’ State with third parties, these 73 to 76, or any other Insurance, income- have substantially been relevant provisions of the tax, sales-tax, wealth confirmed by them.

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