Godrej Industries LTD 270612

GODREJ INDUSTRIES LIMITED
JUNE 2012
1 I Godrej Industries I 2012
Disclaimer
This presentation does not constitute or form or deem to constitute or form part of any offer or invitation or inducement to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of Godrej Industries Limited (the Company) or any of its subsidiaries and associates, nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any contract or commitment therefore. This presentation and its contents are not and should not be construed to be an offer document or prospectus. This presentation contains statements that constitute forward-looking statements. These statements include descriptions regarding the intent, belief or current expectations of the Company, its subsidiaries and associates and their respective directors and officers with respect to the results of operations
and financial condition of the Company, subsidiary or associate, as the case may be. These statements can be recognized by the use of words such as
expects, plans, will, estimates, projects, or other words of similar meaning, and speak only as of the date of this presentation. Such forwardlooking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ from those in such forward-looking statements as a result of various factors and assumptions which the Company believes to be reasonable in light of its operating experience in recent years. The Company does not undertake to revise any forward-looking statement that may be made from time to time by or on behalf of the Company, including in respect of any subsidiary or associate of the Company. The information contained in this presentation has not been independently verified. No representation, warranty, guarantee or undertaking, express or implied, is or will be made as to, and no reliance should be placed on, the accuracy, completeness or fairness of the information, opinions etc. contained in this presentation. Potential investors must make their own assessment of the relevance, accuracy and adequacy of the information contained in this presentation and must make such independent investigation as they may consider necessary or appropriate for such purpose. Any opinions expressed in this presentation are subject to change without notice. None of the Company, its representatives, its advisors, its subsidiaries, its associates, the placement agents, promoters or any other persons that may participate in any offering of any securities of the Company shall have any responsibility or liability whatsoever for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection therewith. This presentation and its contents are confidential and should not be distributed, published or reproduced, in whole or part, or disclosed by recipients directly or indirectly to any other person. In particular, this presentation is not for publication or distribution or release in any country where such distribution may lead to a breach of any law or regulatory requirement. The information contained herein does not constitute or form part of an offer or solicitation of an offer to purchase or subscribe for securities for sale. The distribution of this presentation in certain jurisdictions may be restricted by law and persons into whose possession this presentation comes should inform themselves about and observe any such restrictions. None of the Companys securities may be offered or sold in the United States or to or for the benefit of U.S. Persons, without registration under the U.S. Securities Act of 1933, as amended, or pursuant to an exemption from registration therefrom.
AGENDA
INTRODUCTION TO GODREJ INDUSTRIES
CONSUMER & CHEMICALS

REAL
ESTATE
AGRI TRANSFORMATION EMERGENT
INVESTMENT RATIONALE
GODREJ GROUP
Established in 1897 US $3.9 billion1 (approx) in annual revenue
Value creation for investors

11 year CAGR
$2.8 billion brand valuation by Interbrand in

October 2010
Godrej Industries Ltd.
48%
Over 500 million2 people use one or another Godrej product everyday
Godrej Consumer Products Ltd.
39% 16%
Amongst Indias most diversified and trusted conglomerates
BSE Sensex
Note: CAGR calculated on closing prices of June 18, 2001 and June 20, 2012
Godrej & Boyce

1 FY 2
Godrej Industries
Godrej Properties
Godrej Consumer
Godrej Hershey
Godrej Agrovet
12 Group Revenues ; USD 1 = INR 47.95 (average exchange rate for FY 12) Godrej Group internal study
GODREJ INDUSTRIES (GIL)

Diversified Business Model
Leveraging the India growth story through presence in multiple, established and growing
sectors
Portfolio of quality products that successfully cater to growing aspirations of consumers Urban & Rural, Domestic & Global
Diversified businesses provides a hedge against adverse developments in any particular

industry or geography
Experienced Management Team Sound qualifications along with strong entrepreneurial orientation Successful track record
Robust Corporate Governance Feedback based style of operations Professional management teams with high standards of integrity Strong management team
FINANCIAL PERFORMANCE: GIL STANDALONE

INR millions
Total Income
FY 2009-10
9,917
FY 2010-11
12,545
FY 2011-12
15,631
CAGR
26%
PBT
Net Profit EPS Debt- Equity Ratio Share Capital
800
809 2.54 0.55 318
1,360
1,334 4.20 0.51 318
2,011
2,016 6.33 0.41 318
59%
58% 58% NA NA
Reserves
Book Value (INR per share) Dividend (INR per share)
9,909
32.14 1.5
10,584
34.32 1.75
12,008
38.73 1.75
NA
NA NA

CREATE GROUP PORTFOLIO APPROACH
Consumer & Chemicals Real 4 core businesses
Estate
Agri Transformation Emergent
Drive to
full potential
Focused
incubation of new businesses

CORPORATE STRUCTURE
Own Businesses:
Chemicals, Estate Management, Finance & Investments
Shareholding %
Godrej Consumer Products 21.2%
Godrej Properties 61.5%
Godrej Agrovet 75.2%
Others Natures Basket (100%) Godrej Hershey (43.4%) Other investments

MANAGEMENT TEAM
Name Designation Chairman, Godrej Industries Profile Chairman of the Godrej Group President of the Confederation of Indian Industry (CII) Bachelors and Masters degree in management from the Massachusetts Institute of Technology Director on the Board of several Godrej Group companies including Godrej Consumer Products, Godrej Industries, and Godrej Agrovet Heads the Strategic Marketing Group (SMG) that guides the Godrej Masterbrand and portfolio strategy AB cum laud, Economics & Political Science, Brown University, USA, and has completed an Advance Management Program from Harvard Business School
Adi Godrej
Tanya Dubash
Executive Director and President Marketing
Mathew Eipe
Executive Director and President Chemicals

Chief Strategy Officer Godrej Industries
Joined the Godrej Group in 1977 Chemical engineer from IIT Mumbai, and a management graduate from IIM Kolkata
Joined Godrej Industries in 2009 Prior to joining Godrej, he was a partner with Bain and Company MBA from the Harvard Business School and a BS (Computer Science) and BA (Economics) from Lafayette College Director of numerous firms including Godrej & Boyce, Godrej Industries, Godrej Consumer Products, and Godrej Agrovet President of the Indo French Technical Association and the Alliance Francaise Mumbai Bachelor of Chemical Engineering from the Massachusetts Institute of Technology and a Master of Chemical Engineering from Stanford University. Also holds an MBA from the Harvard Business School Drives the Group's transformation efforts including innovation and talent development Bachelors degree from The Wharton School, University of Pennsylvania and an MBA from Harvard Business School
Vivek Gambhir
Nadir Godrej
Managing Director Godrej Industries, Chairman Godrej Agrovet
Nisaba Godrej
President Human Capital and Innovation

MANAGEMENT TEAM
Name Designation Profile Joined GPL in 2004 Executive Director of GPL since 2008 Holds a Bachelors Degree in Economics from the Wharton School at the University of Pennsylvania, and an MBA from Columbia Business School Director of Godrej Hershey Vice Chairman of Great Lakes Institute of Management Graduated from Madras Loyola College and is a Chartered Accountant Also heads the HR function for International Operations at Godrej Consumer Products (GCPL) MBA in Human Resources from Symbiosis Institute of Business Management Joined the Godrej Group in 1986 B.Sc. (Tech) from UDCT, Mumbai (now known as Institute of Chemical Technology) and a Management Graduate from Welingkar Institute (Mumbai University) FCA with more than 28 years experience in various FMCG Companies HUL, Godrej Sara Lee Director Finance in Godrej Sara Lee for 8 years prior to current role Has completed an Advance Management Program from Harvard Business School Managing Director of Godrej Tyson Foods Chairman of the Compound Livestock Feed Manufacturers Association of India B.Sc. in Agricultural Science from Haryana Agricultural University, and a PGDM from IIM Ahmedabad
Pirojsha Godrej
Executive Director Godrej Properties Limited
A Mahendran
Managing Director Godrej Consumer Products Limited
Sumit Mitra
Executive VP Human Resources
Nitin Nabar
Chief Operating Officer Chemicals Head Finance and Corporate Services Godrej Industries
Ravi Venkateswar
Balram Yadav
Managing Director Godrej Agrovet

FINANCIAL OVERVIEW CONSOLIDATED
REVENUE GROWTH
EBITDA AND EBITDA MARGIN
70,000
CAGR: 25%
5,000
58,039 4,000 46,020 INR Millions 37,155 3,000
CAGR: 15%
4,657
4,573
12.0%
10.0%
60,000 50,000 INR Millions 40,000 30,000 20,000
9.3% 3,471 10.1%
8.0% 7.9% 6.0% 2,000 4.0% 1,000 2.0% 0.0% FY10 FY11 FY12
10,000 FY10 FY11 REVENUE FY12 -
EBITDA
EBITDA MARGIN

PAT AND PAT MARGIN

CAGR: 20%
NET WORTH AND RoAE

CAGR: 16%
7.0%
6.4% 2,934 5.0% 2,916 5.0% 4.0% 6.0%
35,000
30,000 25,000 INR Millions 20,000 15,000 10,000
20.0%
15.9% 23,670 16.0%
4,000
5.5%
INR Millions
3,000
12.8%
19,306 17,656
13.6% 12.0%
2,000
2,032
3.0% 2.0%
8.0%
1,000 1.0% FY10 FY11 FY12 0.0% 5,000 FY10 FY11 FY12
4.0%
0.0%
PAT
PAT MARGIN
NET WORTH
RoAE
AGENDA

REAL
ESTATE
GODREJ CONSUMER PRODUCTS LIMITED

COMPANY OVERVIEW
Home and personal care company - US $1 billion1 in sales Leading positions in core categories (hair colours, household insecticides, and liquid detergents)
in the domestic market
Strong positions in one or more core categories in overseas markets home care, hair care and
personal wash
International acquisitions have established platform for becoming a leading emerging markets
FMCG company
Nearly 40% of revenues now come from international businesses2 Track record of value creation
1 FY 2
12 GCPL Consolidated Revenues ; USD 1 = INR 47.95 (average exchange rate for FY 12) GCPL Consolidated Revenue Split for FY 12

CATEGORIES AND GEOGRAPHIES
Focus on emerging markets in Asia, Africa and Latin America Three core categories Home Care, Hair Care, Personal Wash
Disciplined M&A approach 7 acquisitions in FY 11 and FY12

Values based partnering approach
Product Mix (FY 2012)
3X3
Geographical Mix (FY 2012)
Europe 4.2% Middle East 0.4%
Others 12.0% Hair Care 19.0% Home Care 47.0%
Latin America 5.8%
Africa 8.8%
Indonesia 19.2%
Personal Wash 22.0%
India 61.6%
Note: India revenues include exports, which contribute to 5% of domestic revenues and 3.1% of total revenues

CORE STRATEGY Core Category Leadership
Grow ahead of market Drive consumption and penetration Strengthen portfolio and extend into adjacencies
Drive International Growth
Three core categories; three emerging markets Consolidate existing footprint Value based partnering approach
Innovate and Renovate
Meaningful differentiation through brand platforms Accelerate pace of innovation Harness opportunities to cross pollinate portfolio across markets
Future Ready Sales System
Leverage scale (expand urban coverage and tap into rural potential) Develop new/ under-tapped channels Process excellence Set up global supply organization and global strategic sourcing cell Be best in class on Demand Driven Supply Chain, TOC, TPM, Lean Sigma Strengthen speed to market Systematic talent development Professional entrepreneurship culture
Best in Class Supply Chain
Ensuring an Agile Godrej

STRONG DOMESTIC PERFORMANCE IN FY 12 Key Categories Key Brands GCPL Growth
31%
Household Insecticides
GCPL Growth 27%
Soaps
GCPL Growth 14%
Hair Colour
GCPL Growth

DOMESTIC BUSINESS PERFORMANCE FY 12 SALES BY CATEGORY
CAGR: 34%
21% 24,760
29,980 Exports, 5% Personal Wash, 33%
Others, 7%
48% 16,710
Home Care, 44% FY10 FY11 Net Sales

Note: Values in INR Millions
FY12
Hair Care, 11%

STRONG INTERNATIONAL BRANDS Geographies Key Brands Category Household Insecticides, Air Care, Baby Wipes & Other GCPL Growth*
Indonesia
19%
Africa
Hair colours, hair extensions, soaps
NA
Latin America
Hair Colour
22%
UK
Personal Care
11%
* Sales in local currency ;Like-to-like full year growth for FY 12


INTERNATIONAL BUSINESS PERFORMANCE
FY 12 SALES BY GEOGRAPHY
CAGR: 122%
18,640 54%
Middle East 1%
Europe 11%
12,070 Africa 23% Indonesia 50%
219%
3,780
Latin America 15%
FY10
FY11 Net Sales
FY12


GCPL CONSOLIDATED FINANCIALS
NET SALES
EBITDA AND EBITDA MARGIN
50,000
CAGR: 54%
32%
48,510
9,000
8,000
8,760
CAGR: 46%
21.0%
20.1% 6,530 20.0%
40,000 80% 30,000 20,410
36,760
7,000 6,000 5,000 4,000 3,000 4,110
19.0% 18.1% 18.0% 17.8% 17.0%
20,000
10,000
2,000 1,000
FY10 FY11 FY12
FY10 FY11 FY12
16.0%
NET SALES
EBITDA
EBITDA MARGIN

GCPL CONSOLIDATED FINANCIALS
PBT AND PAT

11,000 9,000 7,270 7,000 5,000 3,000 6,530 55% 5,150 4,200 3,400
PBT CAGR: 53%
NET WORTH
30,000 9,770
CAGR: 72%
50%
28,152
25,000 20,000 15,000 10,000 5,000

9,547
17,252
1,000
(1,000) FY10 FY11 FY12 FY10 FY11 FY12
PBT
PAT
NET WORTH
AGENDA
CONSUMER & CHEMICALS REAL
ESTATE
CHEMICALS
BUSINESS OVERVIEW
One of Indias leading manufacturers of oleochemicals and pioneer in surfactants
Revenue Mix (FY 2012)
Caters to the raw material needs of consumer goods

sectors Personal care, home care, tyre industry
and specialised applications
Exports 43.7% Domestic 56.3%
Supplier to global MNCs Exports to over 60 countries across 6 continents.
44% of FY 12 revenue came from exports

New R&D centre recognized by the Department of
Scientific and Industrial Research (DSIR), Ministry of Science and Technology
Revenue Distribution by Category (FY 2012)

Others 0.6%
Operate from two plants: Valia (Gujarat) and Vikhroli

(Maharashtra)
Glycerin 4.0%
Surfactants 15.8% Fatty Acids 37.9%
New plant in Ambernath (Maharashtra) expected to

be commissioned in H1 FY 14
Fatty Alcohols 41.7%
CHEMICALS
PRODUCTS USED AS INPUT IN VARIETY OF APPLICATIONS
PRODUCTS
APPLICATIONS
DRIVERS FOR GIL
Fatty acids & glycerin
Cosmetics and Toiletries Rubber Polymer Pharmaceutical, Humectants Cosmetics Industrial applications Personal care Laundry
Shampoos, Conditioners Toothpaste Cosmetics Detergents
Movement into specialty fatty acid to drive growth and profitability Leverage presence across the range of applications Increasing export sales to drive growth Developing direct relationships with MNC clients to meet their global requirements
Gain greater share of existing customer businesses Upgrade to value added variants
Fatty alcohols
Surfactants
CHEMICALS
FINANCIAL OVERVIEW
REVENUE GROWTH
PBIT GROWTH AND MARGIN
14,000
CAGR: 28%
25% 10,229
12,836
2,000
CAGR: 57%
9.3% 8.8%
10.0%
12,000 10,000 INR Millions
31% 8.0% 1,500 6.2% INR Millions 1,198 900 4.0% 500 486 2.0% 6.0%
8,000
6,000 4,000 2,000 -
7,813
1,000
FY10 FY11 FY12 FY10 FY11 FY12
0.0%
PBIT
PBIT MARGIN
CHEMICALS
LONG TERM STRATEGY
Continue to build strong position in long chain fatty alcohols Expand on specialty chemicals
Leverage competitive advantage India has in Rapeseed oil increase share of high margin derivatives of rapeseed oil in the value added portfolio Capacity expansion Better value for co-products
Maintain leadership position as domestic supplier of Alpha Olefin Sulphonate
Capacity expansion
Expand to cover entire product form
Expand product portfolio with adjacencies to current offering Alcohol based derivatives
AGENDA
REAL
ESTATE
AGRI
TRANSFORMATION
EMERGENT
GODREJ PROPERTIES LIMITED

INDUSTRY OVERVIEW STRONG MACRO ECONOMIC FACTORS FOR REAL ESTATE SECTOR IN INDIA
Over 100 mn Households will Join Indian Middle Class Increase in Working Population by 2030
Source: Adapted from McKinsey Global Institute, Indias Urban Awakening: Building Inclusive Cities, Sustaining Economic Growth, April 2010
Source: UN Population Database
13 Cities will have a Population Higher than 4 mn
Increasing Per Capita Income
Source: Adapted from McKinsey Global Institute, Indias Urban Awakening: Building Inclusive Cities, Sustaining Economic Growth, April 2010

A SNAPSHOT Pan India Presence 77 mn sqft of developable area*
Established in 1991 Presence in 12 cities across India
Metropolitan Region
Listed on BSE and NSE

77 million sq ft of developable area* Residential | commercial | townships Differentiated business model
*Management Estimate
7.0
*As of March 31, 2012
Est. total developable area (mn sq. ft) under the project, irrespective of revenue/profit/area sharing agreement
GODREJ GARDEN CITY AHMEDABAD
GODREJ PLATINUM BENGALURU
GODREJ PALM GROVE CHENNAI
GODREJ FRONTIER GURGAON
GODREJ PRAKRITI KOLKATA
GODREJ PLATINUM MUMBAI

KEY STRENGTHS
Ranked 4th best brand in India by The Week magazine Over 500 million people use a Godrej product every day1 GPL aspires to bring the Godrej brands reputation for trust and quality to the real estate sector
Godrej Brand
Joint Venture Business Model
Competitive advantage in executing joint development projects Asset light, capital efficient and high ROE development model Added 10 projects with 10.5 million sq ft saleable* area in FY 2012 Access to Godrej Groups land banks across India (e.g., Vikhroli)
Strong Project Pipeline
Corporate Governance Practices
Strong independent Board committed to best practices of corporate governance with focus on investors interests and shareholder value GPL benefits from trust amongst stakeholders in realty market
Access to Capital
Confidence of financial investors demonstrated by successful IPO and recently concluded IPP Project level equity dilution to mitigate risk and remain capital efficient Relatively low bank funding rates for GPL
*Management Estimate - Total saleable area under the projects irrespective of revenue / profit share arrangement
1
Godrej internal study

STRATEGY Leverage Brand & Group Associations
Leverage long-standing business relations: Customers, JV partners and business community Access to group resources, systems and structured group-wide processes Focus on residential development in high growth markets Reduce focus on long gestation commercial projects in Tier II cities
Focused Residential Developer
Joint Development
Pursue joint development model across high growth markets Established relationships and trust provide access to projects at reasonable valuations Remain asset light by focusing on land sourcing, project execution and marketing
Superior Execution
Focus on selecting projects with low turnaround time Launch Task Force in place to expedite project launches Outsource non core functions like construction and design to best in class associates
Equity Partnership Focus - Sustainable Development

Engage equity partners for project level investments Pursue scale and mitigate risk with affecting GPLs development rights
All new developments proposed to achieve LEED green building certification Projects benchmarked to leading global sustainability practices

DIFFERENTIATED LAND SOURCING AND BUSINESS DEVELOPMENT FORMATS
Successfully operated capital efficient and asset light model for many years
Joint Development
The Trees, Vikhroli: 34.2 acres mixed use development with Godrej Group companies Godrej Garden City, Ahmedabad: 24 mn sqft development under joint development
Redevelopment Opportunities
Subsidiary in place to tap into significant residential redevelopment opportunities in Mumbai Strong strategic and financial fit with GPLs current model
Risk free and value accretive business model
Development Management
MoU for appointment as development manager for development of entire Godrej & Boyce Vikhroli land Agreement for two residential towers Recently added projects in Electronic City, Bangalore and Byculla, Mumbai
Acquisition with Financial Partners
Land acquisition through pre -committed capital from institutional investors Exploring opportunities with PE funds to manage capital intensive projects

COMMITMENT TO SUSTAINABLE DEVELOPMENT Every new Godrej Properties project is proposed to be a certified green project
Godrej Garden City One of the two projects in India and 17 worldwide chosen to partner the Clinton Climate Initiatives Climate Positive Development Program
Godrej One LEED Platinum pre-certified
Godrej Eternia LEED Platinum pre-certified
Godrej Palm Grove IGBC GOLD pre-certified

Godrej Platinum IGBC PLATINUM pre-certified
Godrej Waterside LEED GOLD certified

FY 12 HIGHLIGHTS Continued progress in spite of a tough environment
Total booking value of INR 15.6 Bn in FY 12 compared to INR 10.7 Bn in FY 11 Strong growth in commercial sales as compared to FY 11
New Launches
Apart from new phases in ongoing projects, new projects launched in: Bengaluru (Godrej Platinum) Nagpur (Godrej Anandam) Chennai (Godrej Palm Grove) Mumbai (Godrej Platinum) Mangalore (Godrej Alpine)
FY12 strongest year for new business development
Witnessed strong deal flow: 10 agreements of 10.5 mn sq ft saleable area* across 6 cities Concluded agreement with Godrej & Boyce for the development of its entire Vikhroli landholding Seven deals across target markets of Mumbai, Bengaluru and NCR Nine residential projects and one commercial project added Entry into Mumbai Redevelopment Space
Successful completion of Institutional Placement Programme (IPP)

Raised INR 4,707 Mn through Indias first IPP Programme was oversubscribed 1.17 times
*Management Estimate - Total saleable area under the projects irrespective of revenue / profit share arrangement

PARTNERSHIP WITH GODREJ & BOYCE ON VIKHROLI
MoU for appointing us as Development Manager for all of G&B Vikhroli land Agreement for two residential towers GPL entitled to 10% of the net sales collections as development manager fee GPL to undertake the conceptualization, design, sales and marketing of all future projects Sales and marketing cost to be borne by GPL G&B to bear construction and design cost of development Highly value accretive for GPL shareholders Significant low-risk cash flow to GPL
Key Features
Benefits
No working capital deployment required In line with GPLs asset light and capital efficient business model Frees up capital for external growth opportunities
Launch update, Godrej Platinum (IGBC Platinum pre-certified) Phase 1 of 0.16 mn sqft launched in FY 2012

AWARDS AND RECOGNITION
12 awards won in FY12, including
'Corporate Governance of the Year', 2011 by Accommodation Times at 26th National Real Estate
Awards for excellence in Real Estate
Star Realty Lords of the Land 2011-12 award at STAR REALTY 2011-12 Best Emerging National Developer at Zee Business - RICS Real Estate Awards 2011 for Godrej
Woodsman Estate
Most Trusted Names in the Real Estate Industry and Indias Best Marketed Real Estate Company, 2011 by 4Ps Business and Marketing in association ICMR 1st Rank in Real Estate Industry in Indias Best Companies to Work For by The Great Place to
Work Institute, India and the Economic Times

One of the Top 200 Power Brands 2011-12 by ICMR Branding and Marketing award in the Real Estate Sector for Godrej Garden City, Ahmedabad at the Asian Leadership Awards 2011
Best Marketing Campaign of the Year at the CMO Asia Awards for Godrej Prakriti, Kolkata

INR Millions Net Sales
FY10 2,427
FY11 4,515
FY12 7,701
CAGR 78% 12%
EBITDA
1,655
2,125
2,077
EBITDA (%)
68.2%
47.1%
27.0%
PAT
1,228
1,309
979
-11%
PAT (%)
50.6%
29.0%
12.7%
Net Worth
8,173
9,116
14,426
33%
Note: EBITDA for FY12 lower than FY11 due to lower private equity investment. Profit from operations increased by 52%.

FY 13 PLANNED LAUNCHES
Launches Planned in H1 FY 13*

Project
Godrej Serenity Godrej Horizon Phase 1 Godrej Summit Phase 1 Godrej Gold County Phase 1 Godrej Garden City Phase 5
Launches Planned in H2 FY 13*

Type Project
Godrej Summit Phase 2&3 Godrej Horizon Phase 2
City
Mumbai Pune Gurgaon Bangalore Ahmedabad
City
Gurgaon Pune
Type
Residential Residential
Residential Residential Residential Residential Residential
Godrej Palmsprings
Godrej Anandam Phase 2 Godrej Garden City Phase 5B & EWS Godrej Platinum Tower 3 Godrej Oasis Phase 1
Mumbai
Nagpur Ahmedabad Mumbai Hyderabad
Residential
Residential Residential Residential Residential
G & B Moosapet Phase 1

Sahakar Nagar Redevelopment , Byculla Alipore
*Management Estimate
Hyderabad
Mumbai Mumbai Kolkata
Residential
Residential Residential Residential

VIKHROLI DEVELOPMENT PROJECT
34.2 acre mixed development project The Trees at Vikhroli being developed by Godrej Vikhroli
Properties LLP (GVPL)
Land purchased from Godrej & Boyce for a total consideration of INR 7,169 million to be paid over
five and a half years from April 2012
Saleable area of project may increase from 2.8 million sq ft to 3.5 million sq ft based on changes in
Mumbais DCR rules
GPLs strategy will be to sell significant amount of space in the mixed use project GVPL 60:40 JV between GPL & GIL on profit sharing basis
GIL would effectively be beneficiary of 76.9% of profits for this project (through its direct 40% share in
profits of GVPL + its 61.5% stake in GPL)
AGENDA
CONSUMER & CHEMICALS REAL ESTATE
AGRI
TRANSFORMATION EMERGENT
GODREJ AGROVET
A SNAPSHOT
Business Overview Business Segment Product Overview One of Indias largest commercial feed millers by volume Produced 957,042 MT of animal feed in FY2012 Developing nutrition products for cattle, poultry, aquaculture 50:50 JV in Bangladesh with Advanced Chemical Industries - ACI Godrej
Animal Feeds
Oil Palm
One of the largest oil palm cultivators in India, with over 45,000 hectares as of end-FY2012 Operating in AP, TN, Goa, Orissa, Gujarat, Mizoram, Maharashtra, and Karnataka
Agri Inputs
Focused on plant growth regulators, soil conditioners, herbicides Strong pipeline of innovative products Recently launched seeds business focused on maize, bajra and paddy
Poultry (Godrej Tyson)
Producing and marketing processed poultry, frozen snacks Real Good Chicken launched in 1999; Yummiez launched in 2006 Partnered with Tyson Foods (USA) forming a 49:51 JV
GODREJ AGROVET
FINANCIAL OVERVIEW
REVENUE GROWTH
PBIT AND PBIT MARGIN
30,000
CAGR: 23%
1,600
24,600 1,200
CAGR: 59%
7.0%
1,403 6.0% 5.7% 4.2% 3.4% 809 4.0% 3.0% 553 5.0%
25,000 20,000 16,130
19,160
INR Millions
INR Millions
15,000
10,000
800
400 5,000 FY10 FY11 FY12 FY10 FY11 FY12
2.0% 1.0% 0.0%
PBIT
PBIT MARGIN
GODREJ AGROVET
IDENTIFYING INDIAS KEY AGRICULTURAL OPPORTUNITIES
PROTEIN CRISIS
EDIBLE OIL CRISIS
YIELD CRISIS
Animal Feeds Godrej Tyson
Oil Palm
Agri Inputs Hybrid Seeds
GODREJ AGROVET
LIVESTOCK CRITICAL TO MEET INDIAS PROTEIN DEMAND Market Size 1 (Volume) Dairy Production 112.5 million MT of milk Protein Conversion2 3.5% Nutritional Protein (MT) 3.94 mn MT
Inland Aquaculture
4.9 million MT of fish/shrimp
20.0%
0.98 mn MT 6.22 mn MT of protein!
Meat Production
4.0 million MT of meat
21.0%
0.84 mn MT
Egg Production
59.8 billion eggs
14.0%
0.46 mn MT
Pulse Consumption
1Source: 2Management
20.8 million MT of pulses
22.0%
4.58 mn MT
13% from imports!
Department of Agriculture, Agricultural Statistics at a Glance 2011, Government of India ; Data for 2009-10 Estimates
GODREJ AGROVET
INDIA TRAILS GLOBAL AVERAGES FOR MEAT/MILK/EGG CONSUMPTION; HUGE FUTURE GROWTH UPSIDE
REGION/COUNTRY GROUP/ COUNTRY DEVELOPED COUNTRIES Former centrally planned Economies Other developed countries DEVELOPING COUNTRIES East and Southeast Asia China Rest of East and Southeast Asia Latin America and the Caribbean Brazil Rest of Latin America and the Caribbean South Asia
MEAT (kg/capita/year) 1980 76.3 63.1 82.4 14.1 12.8 13.7 10.7 41.1 41.0 41.1 4.2 2005 82.1 51.5 95.8 30.9 48.2 59.5 24.1 61.9 80.8 52.4 5.8
MILK (kg/capita/year) 1980 197,6 181.2 205.3 33.9 4.5 2.3 9.9 101.1 85.9 109.0 41.5 2005 207.7 176.0 221.8 50.5 21.0 23.2 16.4 109.7 120.8 104.1 69.5
EGGS (kg/capita/year) 1980 14.3 13.2 14.8 2.5 2.7 2.5 3.3 6.2 5.6 6.5 0.8 2005 13.0 11.4 13.8 8.0 15.4 20.2 5.1 8.6 6.8 9.4 1.7
India
Rest of South Asia Near East and North Africa Sub-Saharan Africa WORLD
3.7
5.7 17.9 14.4 30.0
5.1
8.0 27.3 13.3 41.2
38.5
52.0 86.,1 33.6 75.7
65.2
83.1 81.6 30.1 82.1
0.7
0.9 3,7 1.6 5.5
1.8
1.5 6.3 1.6 9.0
Source: State of Food and Agriculture 2009 Livestock in the Balance (FAO), World Bank 46 I Godrej Industries I 2012
GODREJ AGROVET
FEED INDUSTRY DRIVING LIVESTOCK MODERNIZATION IN INDIA 2002 2012
feed as commodity
feed as performance product
dairy as farmer side activity
Dedicated dairy farms being built
1.5 kg broiler weight, 2.0 FCR
2.0 kg broiler weight, 1.5 FCR
two fish species, BT shrimp
nine fish species, Vannamei
live market quality
QSR, modern retail quality
GODREJ AGROVET
ANIMAL FEEDS BUSINESS
Business Overview
One of Indias largest commercial feed millers, established in 1971 Acquired Goldmohur Foods & Feeds in 2001 from Unilever Currently producing approximately 1 million MT per annum of feed and nutrition products for cattle, poultry and aquaculture High return on capital employed Entered Bangladesh through a 50:50 JV with the ACI Group GAVLs Key Animal Feeds Brands
GODREJ AGROVET
ANIMAL FEEDS BUSINESS
Strategic Initiatives
Augmenting capacities, with new feed mills being established Expanding margins through nutrition R&D, strategic purchasing, and logistics Accelerating development of innovative livestock nutrition products Animal nutrition R&D facility at Nashik currently under development Rebuilding cattle feed business in UP and Punjab Exploring new markets for animal feed/nutrition opportunities
REVENUE GROWTH
20,000 15,000 11,420
(MT)
ANIMAL FEEDS VOLUME GROWTH

1,200,000
CAGR: 24%
17,480
CAGR: 14%
957,042 812,607 732,522 Other
INR Millions
12,930
1,000,000
800,000 600,000 400,000
10,000 5,000 FY10

49 I Godrej Industries IStrong 2012
Aqua
Layer
Broiler
Cattle
200,000
FY11 revenue growth
FY12
FY10
FY11
FY12
Volume Growth across every category of Animal Feed
GODREJ AGROVET
ACI GODREJ AGROVET (BANGLADESH) Business Overview Formed in 2004; 50:50 JV with Advanced Chemicals Industries (ACI) and GAVL. Focused on selling animal feed (poultry, fish, cattle, shrimp) and day old chicks Developed close relationships with farmers by providing cost effective products Expanding floating fish production capacity, driving aquaculture feed business
REVENUE GROWTH
4,000 3,500 INR Millions 3,000 2,500 2,000 1,500 1,000 500 FY10
FEED VOLUME GROWTH

200,000
CAGR: 26%
CAGR: 50%
3,448 Million Tonnes 2,524
165,428 139,883
150,000 104,402 100,000 50,000 -
1,540
FY11
FY12
FY10
FY11
FY12
GODREJ AGROVET
POULTRY (GODREJ TYSON FOODS) Overview Company is a 49:51 JV with Tyson Foods (USA) Real Good Chicken was launched in 1999 Producing and marketing processed chicken, frozen (chicken and vegetarian) snacks ISO 22000:2005 certified processing plants in Bangalore and Mumbai Expanding existing plant processing capacity in FY2013 Growth Drivers Launching new variants in the retail segment Providing value-added products to Quick
2,800 2,400 2,000 1,600 1,200 800 400 Yummiez sales volumes increased by 35.7% since FY2010-11
Key Brands
REVENUE GROWTH
CAGR: 20%
2,660
2,290
1,860
Service Restaurants (QSRs)

Building Yummiez brand nationally Expanding capacities to cater to growing demand
FY10
FY11
FY12
GODREJ AGROVET
ADDRESSING INDIAS KEY AGRICULTURAL OPPORTUNITIES
PROTEIN CRISIS
EDIBLE OIL CRISIS
YIELD CRISIS
Oil Palm
GODREJ AGROVET
OIL PALM CRITICAL FOR INDIAS LONG TERM FOOD SECURITY
16 14 12
MILLION MT OF EDIBLE OIL
8.2 10 4.4 8 6 4 2 0 FY06 FY07 FY08 Domestic Production

Source: ICRA Indian Edible Oils Industry: Key Trends and Credit Implications, July 2011
8.8
5.6 4.7
7.1
6.9
7.15
6.7
6.4
FY09 Imports
FY10
GODREJ AGROVET
INDIA IS BECOMING A SIGNIFICANT PLAYER IN GLOBAL PALM OIL
Source: Key Sustainability Issues in the Palm Oil Sector, A Discussion Paper Commissioned by World Bank, 2006
GODREJ AGROVET
QUICK PRIMER ON OIL PALM INDUSTRY IN INDIA Oil palm cultivation in India operates on a command area model state governments allocate specific territories to companies no territory overlaps, so no competition among companies in same area company encourages farmers in its territory to cultivate oil palm
company provides interested farmers with oil palm nursery stock
Oil palm is contract farming system, backed by State law company in each territory is mandated to purchase entire production of fresh fruit bunches (FFB) from farmers
farmers must sell FFB to designated company in their territory

each company required to build palm oil mill in assigned territory to process FFB into crude palm oil (CPO)
Pricing of FFB set by the State government
based on percentage of monthly benchmark imported CPO price
GODREJ AGROVET
OIL PALM BUSINESS FOR GAVL
BUSINESS OVERVIEW Oil Palm business established in 1991; Godrej currently one of the largest oil palm cultivator in India As of end-FY2012, developed over 45,000 hectares of oil palm in the states of Andhra Pradesh, Tamil Nadu, Goa, Orissa, Gujarat, Mizoram, Maharashtra, and Karnataka Oil Palm business works closely with farmers, providing inputs, extension support, and electronic payment
OIL PALM PROCESS
GODREJ AGROVET
OIL PALM BUSINESS FOR GAVL
8,000
OIL PALM NEW CULTIVATION AREA

7,000
Strategic Initiatives Accelerating area expansion, especially in Tamil Nadu, Maharashtra, and Gujarat Launching two additional leaf and soil laboratories to improve oil palm yields Commencing oil palm R&D programme, focused on harvesting and intercropping Introducing targeted interventions to support oil palm farmers
INR MILLIONS HECTARES
6,000 4,753 4,000 2,000 FY10 FY11 FY12 3,992
REVENUE GROWTH
3,000
CAGR: 87%
2,240
Distributing high quality fertilizer and drip irrigation to oil palm farmers
2,000 1,150 1,000 640
Total area under cultivation in FY12: ~45,000 hectares

FY10 FY11 FY12
GODREJ AGROVET
ADDRESSING INDIAS KEY AGRICULTURAL OPPORTUNITIES
PROTEIN CRISIS
EDIBLE OIL CRISIS
YIELD CRISIS
Oil Palm
GODREJ AGROVET
LOW YIELDS REVEAL MASSIVE REQUIREMENT FOR AGRI INPUTS TO IMPROVE INDIAN AGRICULTURAL PRODUCTIVITY
MAIZE YIELD
54,598 120,000 80,000 Hg / Ha 40,000 0 ARGENTINA INDONESIA CHINA BRAZIL INDIA USA 95,923 20,000 44,324 43,747 18,141 16,000 19,582 12,000 Hg / Ha 8,000 4,000 CANADA CHINA MYANMAR BRAZIL INDIA 17,711 CHINA INDIA USA 18,562 15,834 6,539 9,217 PARAGUAY 27,931
PULSE YIELD
78,122
RICE / PADDY YIELD

80,000 40,000
SOYBEAN YIELD
65,482
60,000 Hg / Ha 40,000 20,000 -
32,644
30,000 29,416 29,424 29,224 Hg / Ha 20,000 10,000 USA ARGENTINA CANADA BRAZIL 29,054
11,613
53,221
50,144
41,826
CHINA
INDONESIA
VIETNAM
BANGLADESH
INDIA
Source: FAO Statistics (2010); http://faostat3.fao.org/home/index.html
10,651
GODREJ AGROVET
SIGNIFICANT OPPORTUNITY FOR AGROCHEMICAL PENETRATION
20.0 17.0 16.0
PESTICIDE CONSUMPTION IN SELECT COUNTRIES
12.0 Kg/Ha
12.0
8.0
6.6
6.6
4.0
3.0 2.3 0.6
TAIWAN JAPAN KOREA FRANCE EUROPE USA INDIA

Source: Planning Commission Working Group on Indian Chemical Industry 11 th Five Year Plan; http://planningcommission.nic.in/aboutus/committee/index.php?about=11strindx.htm 60 I Godrej Industries I 2012
GODREJ AGROVET
AGRI INPUTS BUSINESS Business Overview Currently focused on plant growth regulators, soil conditioners, and herbicides Strong distribution network, with more than 3000 distributors, dealers and C&F agents providing pan-India coverage Focus on R&D has paid off, with success of Hitweed and HBR New product pipeline on track for FY2012-13 launches
Key Brands
GODREJ AGROVET
AGRI INPUTS BUSINESS Strategic Initiatives Driving sales growth through Hitweed, Zymegold, and HBR Scouting for technical partnership to secure next generation products Registering new paddy herbicide and preparing for commercial launch Increasing salience of high-margin traded pesticides Reducing high working capital requirements through channel management Accelerating R&D program with strong focus on herbicide synthesis HITWEED SALES
400
INR Millions 2,500
CAGR: 172%
AGRI INPUTS REVENUE

CAGR: 25%
2,070 1,570
295
INR Millions
2,000
1,500 1,000 500 1,330
200
139
40 FY10 FY11 FY12
FY10
FY11
FY12
GODREJ AGROVET
HUGE OPPORTUNITY REMAINS IN INDIAN SEED INDUSTRY Cotton Production and Yield in India
(Mn Bales of 170 Kgs. of each) 40 35 30 25 20 22.6 22.3 23.9 15 10 9.5 5 0 25.9 190 186 191 13.7 16.4 18.5 10.0 307 318 33.5 362 467 421 403 395 518 600 500 400 300 200 100 09-10* 10-11^ 06-07 07-08 08-09 0 (Kg/Ha)
India has Outpaced China in Adoption of BT Cotton

100
India
80
China 60 %
40 20 0 97 98 99 00 01 02 03 04 05 06 07 08 09
00-01
01-02
02-03
8.6
03-04
Production (LHS)
04-05
05-06
Yield (RHS)
Farmers realized benefits of Bt Cotton and adopted it
Source: ISAAA
* Fourth Advance Estimates as released on 19.07.2010; ^ First Advance Estimates as released on 23.09.2010; Note : The yield rates given above have been worked out on the basis of production & area figures taken in '000 units Source: Directorate of Economics and Statistics, Department of Agriculture and Cooperation
Share of Production in Hybrid Seeds in India

Field Crops 100% 80% 60% 40% 20% Tomato Rice Chilli Cotton Brinjal SSG Sorghum Sunflower
Source: National Seeds Association of India, 2008
Vegetable Crops
Private Sector dominates the hybrid seeds production in India
(%)
Public Bred
Private Bred
W Melon
Gourds
Millet
Okra
Corn
0%
GODREJ AGROVET
SEEDS BUSINESS
Godrej Seeds & Genetics Limited (GSGL) launched in mid-FY2012

Focusing on three core crops; product mix will keep trade interested maize paddy bajra
Building sales team covering high potential states resources prioritized to Maharashtra, Bihar, Karnataka, Andhra Pradesh
Investing in R&D, breeding capabilities to create long term differentiation

targeting FY2015-16 launch of new bajra hybrids planning for R&D in new fodder hybrids for dairy cattle nutrition
GODREJ AGROVET
STRATEGY SUMMARY Godrej Agrovets mission is to improve the productivity of Indian farmers by innovating products and services that sustainably increase crop and livestock yields We aim to innovate better products and services for Indian farmers FEED POULTRY FARMER OIL PALM high performance animal feeds next gen PGRs, herbicides OPP extension services high yield seeds, banana tissue culture
We aim to upgrade our capabilities to deliver business success AGRI INPUTS SEEDS R&D, NPD, marketing manufacturing
technical sales, agronomy
AGENDA
CONSUMER & CHEMICALS REAL ESTATE AGRI
TRANSFORMATION
EMERGENT
TRANSFORMATION
ENABLERS
Quality of management and aligned incentives
RATIONALE
Accelerate value creation trajectory and
harness tremendous growth potential
Professional management teams

EVA based performance linked remuneration Long term incentives Robust planning and target setting guided by strategy
cell Lean, but active center
115 years young and preserving core values Broaden appeal to younger and more
contemporary India
Enhance capabilities to continue winning in the Fosters sense of Group, culture of

future cooperation/synergy
Innovation, M&A, Strategic Design

Attract and retain the best talent
Incubates new capabilities Ensures adequate controls and risk management Manages support functions that benefit from
economies of scale
TRANSFORMATION
KEY ELEMENTS
Harness power of Godrej brand
Brighter Living positioning Strengthen brand equity
Systematic talent management Define differentiated employer proposition
Tailored career planning

Advanced learning and training
Deepen employee engagement

Create high performance culture Sustain results oriented mindset Enhance rewards and recognition
Define Corporate Responsibility vision
Good & Green vision

Set up of governance structure to ensure progress against vision
TRANSFORMATION
EMBRACING SHARED VALUE ACROSS THE GROUP
E.g. Climate change
Revenue growth e.g. new, green products Strengthen Drivers of Competitiveness
Address Social Problems

E.g. Quality education Improved talent pipeline
Create Shared Value
The concept of shared value can be defined as policies and operating practices that enhance the
competitiveness of a company while simultaneously advancing the economic and social conditions in
the communities in which it operates.
TRANSFORMATION
GROUP WIDE INITIATIVE GOOD & GREEN LAUNCHED
Beyond Business: Building a More Inclusive and Greener India
by 2020
ensuring employability
train 1 million rural and urban youth in skilled employment
creating a greener India

achieve zero waste, carbon
neutrality, positive water balance and 30% renewable energy
innovating for good & green

have a third of our portfolio revenues comprising good and/ or green products and services
TRANSFORMATION
BUILDING AN INSPIRING PLACE TO WORK
TSR = 4% Below Average 45% 68% 30% Serious Range Indifferent Range
High Performance/ Aon Hewitt Best Employer Range Destructive Range
0% Benchmark Averages*
GILAC India(68%) BE India (77%) Asia Pacific BE (81%)
100%
* Godrej Industries Employee Engagement Study, in association with Aon Hewitt

AGENDA
CONSUMER & CHEMICALS REAL ESTATE AGRI TRANSFORMATION
EMERGENT
EMERGENT
NATURES BASKET LIMITED
Started in 2005 as a fresh food retailer ; morphed into fine food retailer in 2008 One of Indias leading fine beverages and gourmet food retail chains and a strong player in this space Supply arrangements in place with over 300 suppliers including consolidators, importers and distributors Over 20 stores located across 5 key metros - Mumbai, Delhi/NCR, Pune, Hyderabad, and Bengaluru 7 new stores opened in FY 11-12 across 3 metros
Caters to up-market urban consumers for world food, ingredients, organic foods, health foods,
delicatessen, boulangerie, and beverages including wines and beer
Loyalty program unveiled across all metros in FY 12 Online retailing presence enhanced Awarded the Most Admired foreign foods retailer of the year in the Foreign Foods Category at
prestigious Coca Cola Golden Spoon Awards in 2011 and in 2012
EMERGENT
NATURES BASKET LIMITED
REVENUE GROWTH
900 800
CAGR: 54%
820
700 INR Millions 600 500 554
400
300 200
339
100
FY10 FY11 REVENUE FY12
EMERGENT
GODREJ HERSHEY LIMITED
Established in 2007, joint venture between The Hershey Company (USA) and the Godrej Industries
Limited, with Godrej currently holding a 43.4% stake
JV operates in multiple categories, such as confectionary, beverages, and grocery items Four regional sales offices based at Mumbai, Delhi, Chennai and Kolkata, with a sales force of more
than 300 people and approximately 1,500 distributors
Nutrine Confectionary Company Limited is a wholly owned subsidiary of GHL with brands such as
Maha Lacto, Maha Chocolate Eclairs, Nutrine Lollipop and others
EMERGENT
GODREJ HERSHEY LIMITED
REVENUE GROWTH
GROWTH IN KEY PORTFOLIOS / BRANDS
4,000 3,917 3,900 INR Millions 3,800

CAGR: 8%
SEGMENT/ BRAND Beverages Portfolio - Jumpin
VALUE GROWTH (FY12 OVER FY11)

7% 8% 5% 28% 23%
3,700 3,633 3,600 3,500 3,400 FY11 REVENUE FY12
- Sofit Oil Portfolio Hershey Syrup
AGENDA
CONSUMER & CHEMICALS REAL ESTATE AGRI TRANSFORMATION EMERGENT INVESTMENT RATIONALE
STRONG FINANCIAL PERFORMANCE

GODREJ INDUSTRIES (CONSOLIDATED)
REVENUE
NET PROFIT
70,000
CAGR: 17%
4,000
58,039 45,916 36,134 30,820 37,155 INR Millions 3,000
CAGR: 15%
60,000 50,000 INR Millions
2,934
2,916
40,000
30,000 20,000 10,000 FY08
2,032 2,000 1,678 1,115 1,000
FY09 FY10 FY11 FY12 FY08 FY09 FY10 FY11 FY12
Due to JVs, restructurings, acquisitions, divestitures, etc. revenue and profit figures are not strictly comparable from year to year.
HISTORY OF VALUE CREATION

GODREJ INDUSTRIES
11 year compounded annual growth rate (CAGR)
Note: CAGR calculated on closing stock prices as of June 18th, 2001 and June 20th, 2012
STRONG VALUE OF UNDERLYING ASSETS

GODREJ INDUSTRIES Holding (%) 21.2 61.5 75.2 43.4 100.0 100.0 2.6 Investment at cost (INR Mn) 5,826 2,299 1,632 2,208 148 414 306 699 13,532 1,088#
Company
Godrej Consumer Products Godrej Properties Godrej Agrovet Godrej Hershey Godrej International Natures Basket
Business
FMCG, Personal and Household Care Products Real Estate and Property Development Animal Feed, Agri-inputs, Poultry & Oil Palm Food, Beverages and Confectionery International Trading Fresh food & Gourmet Stores Medical Transcription Bio- Technology, KPO, etc. Total
Market Value* of investment (INR Mn)

40,033 27,220
M*Modal (formerly MedQuist)

Others
* as on June 20, 2012 # Conversion rate : USD 1 = INR 56.16 as of June 20, 2012 80 I Godrej Industries I 2012
VALUE UNLOCKING POTENTIAL

GODREJ INDUSTRIES
8,500 7,500 6,500 7,221 6,724
GCPL & GPL
Other Valuable Interests

Animal Feed (FY 2012 Revenue: INR 17,480 million) Oil Palm Plantation (FY 2012 Revenue: INR 2,240 million) Confectionary / Foods
INR Crore
5,500 4,500
3,500
GPL listed
2,500 1,500
GCPL only
500 Dec-09 Dec-10 Dec-11 Apr-09 Apr-10 Apr-11 Feb-10 Feb-11
Aug-11
Aug-09
Aug-10
Feb-12
Jun-09
Jun-10
Jun-11
Apr-12
Oct-09
Oct-10
Oct-11
Jun-12
(FY 2012 Revenue: INR 1,700 million) (for 43.4% share) Oleo Chemicals/Veg Oils
Total GIL's share in market cap of GPL & GCPL
GIL's market cap
Leveraging the India growth story through presence in multiple high growth industries
(FY 2012 Revenue: INR 25,160 million) Other Agri / Poultry

(FY 2012 Revenue: INR 4,310 million) The Trees 2.8 million sq feet mixed use development
Portfolio of high quality products that successfully cater to growing aspirations

of all consumers Urban & Rural, Domestic & Global Diversified businesses provides a hedge against adverse developments in a particular industry
Note: Market values as of June 20th, 2012
THANK YOU FOR YOUR TIME AND CONSIDERATION


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GODREJ INDUSTRIES LIMITED

1 I Godrej Industries I 2012

CONSUMER & CHEMICALS

Value creation for investors

$2.8 billion brand valuation by Interbrand in