Ref: SEC/SE/2024-25

Date: IVIay2, 2Q24

To,
^C&fporate RelatiQns. Department NaittOtlal Stock Exchange of India Ltd,
BSELtd, Exchange Plaza, 5th Ftoor
PhirctzfiJeejeebhQy Towers Plot No. E/l, (3 Bloek, Bancfra Kurla Gompl^
9alal Street, Mumbai- 400001 Bandra (E), Mumbai -400051

BSEScrip Code:500096 NSE Scrip Symbol: QABUR

Sub; Audited Financial and Se ment-wise Results for the ^uarter arid year ended
(Viarch 31 2024 and declaration of DiVJdend

DearSir/Madam,

In Compliance with RegyiationsSO, 33 and 52(4) of the SEBtCListmg Obligatiorss & Disclosure
Reqyireroettts) Regulations, 2015, ('listing Regulattoris'}, we wQuld like to inform that the
Board of Directors ^f She Company, in its meeting held t&day i. e. May 2, 2024, have:

1, Approved the Financial and Segment wise results of the Cornpany {Consoljaated aswett as
standalone^ for the year ended on March 31, 2024, Cash Flow Statement for the year
ended on March 31, 2Q24/ and Statement of assets and Itabilities as at that date
(Conseliclated aswellasstandalone). ThesaidFinancial^
thereon (Consolidated aswell asstandalone) issued byStatutory Auditors ofthe Company
are being submittect herewith.

It js hereby confirmed that the Statutory AudjtQrs have issued the Auditors* Report on the
Financtal Results (Consolidated aswell asStandalone) with an unmodified opinion.

in terms of Regulation 47 of the Usting Regulations, the extract of consolidated financial

results, in the prescribed format, shall be published on May 3, 2024, m all eclitions of
Hindustan Times (English Edition) and Delhi'NCR edition of Hindustan (Hindi daily).

The full format of con-sofidated and standalone Financial Results for the quarter and year
endedon March 31, 2024 shall be availabieon the websitesoftheStock Exchangeswhere
securities cfths Company are listed l. o. www.ribt. iMidiG
i^omand www^oseindia. coro and on
the Company's website atwww.dabur.com.

Further, requisite disclosure in eomplianee with emails received from BSE Limited arid
National Stock Exchangeof India Umited read with SEBtCircutar N©.SEBI/HO/RDHS/DDHS-
RACPODl/P/aR/2023/172 dated October 19, 2023, containing the details with regard to
Large Corporates for the fjnancial year ended on IVIarch 31, 2024 is being submitted
herewith.
2. Pursuant to ReguSations 3QarKl 43 'off be ListingRegulatiQRS, the Boarci QfDireietQrs c3fthe
Company have recommended FinalOivtdend of Rs, 2. 75 per equitY shareIigvingface vafue
of Re. I/- each (i. e. 275%} t»r the finaneial year 2023-24/ for approval ot members of the
Company in the ensuingAnnuat ©eneraiNleeting.
tnformation regarding Boofe clQSure/ Record date and ditfiden^ paymefit date w ill be
informed in due course of time.

The Boafd meeting Eommenced '&t and concluded at

This is for your inyormatjon and reeords.

ThankingYou,

Yours faithfully,
For Dabur India Linirited
ASHOK
KUMAR
JAIN
(A K Jain}
EVP(Finance) and CornpanySecretary

End: as above
TELEPHONE:2212-6253, 2212-8016 BASU HOUSE
FAX :00-91-33-2212 7476 G. BASU & Co. 1STFLOOR
WEBSITE:www.gbasuandcompany.org CHARTEREDACCOUNTANTS 3, CHOWRINGHEE APPROACH
E-MAIL: s.lahiri@gbasu. hi KOLKATA - 700 072

Independent Auditor's Report on Consolidated Financial Results for the Quarter and Year
ended on 31 March 2024

To the Board of Directors of Dabur India Limited

Opinion

1. We have audited the accompanying consolidated financial results ('the Statement') of Dabur
India Limited ('the Holding Company') and its subsidiaries (the Holding Company and its
subsidiaries together referred to as 'the Group') and its joint venture for the quarter and year
ended 31 March 2024, attached herewith, being submitted by the Holding Company pursuant
to the requirements of Regulation 33 and Regulation 52 read with Regulation 63 of the SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) ('Listing
Regulations').

2. In our opinion and to the best of our information and according to the explanations given to us,
the Statement:

(i) includes the financial results of the entities listed in Annexure 1;

(ii) presents financial results in accordance with the requirements of Regulation 33 and
Regulation 52 read with Regulation 63 of the Listing Regulations; and

(iii) gives a true and fair view in conformity with the applicable Indian Accounting Standards
('IndAS') prescribed undersection 133ofthe CompaniesAct, 2013('theAct') readwiththe
Companies (Indian Accounting Standards) Rules, 2015, and other accounting principles
generally accepted in India, of the consolidated net profit after tax and other comprehensive
income and other financial information of the Group, and its joint venture, for the quarter
and year ended 31 March 2024.

Basis for Opinion

3. We conducted our audit in accordance with the Standards on Auditing specified under section
143(10) of the Act. Our responsibilities under those standards are further described in the
Auditor's Responsibilities for the Audit of the Statement section of our report. We are
independent of the Group and its joint venture, in accordance with the Code of Ethics issued by
the Institute of Chartered Accountantsof India ('the ICAI')togetherwith the ethical requirements
that are relevant to our audit of the financial results 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 is
sufficient and appropriate to provide a basis for our opinion.

^su<s
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^ KOLKATA
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TELEPHONE: 2212-6253, 2212-8016 BASU HOUSE
FAX:00-91-33-22127476
WEBSITE:www.gbasuai^dcompany.org
G. BASU & Co. 1STFLOOR
CHARTEREDACCOUNTANTS 3, CHOWRINGHEEAPPROACH
E-MAIL: s.lahiri@gbasu. hi
KOLKATA-700072

Responsibilities of Management and Those Charged with Governance for the Statement

4. The Statement, which is the responsibility of the Holding Company's management and has
been approved by the Holding Company's Board of Directors, has been prepared on the basis
of the consolidated annual financial statements. The Holding Company's Board of Directors is
responsible for the preparation and presentation of the Statement that gives a true and fair view
of the consolidated net profit or loss and other comprehensive income, and other financial
information of the Group including its joint venture in accordance with the Ind AS prescribed
under section 133 of the Act read with the Companies (Indian Accounting Standards) Rules,
2015 and other accounting principles generally accepted in India and in compliance with
Regulation 33 and Regulation 52 read with Regulation 63 of the Listing Regulations. The
Holding Company's Board of Directors is also responsible for ensuring accuracy of records
including financial information considered necessary for the preparation of the Statement.
Further, in terms of the provisions of the Act, the respective Board of Directors/ managementof
the companies included in the Group and its joint venture, covered under the Act, are
responsible for maintenanceof adequate accounting records in accordancewith the provisions
of the Act, for safeguarding of the assets of the Group, and its joint venture, 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 design,
implementation and maintenance of adequate internal financial controls, that were operating
effectively, for ensuring the accuracy and completeness of the accounting records, relevant to
the preparation and presentation of the financial results, that give a true and fair view and are
free from material misstatement, whether due to fraud or error. These financial results have
been used for the purpose of preparation of the Statement by the Directors of the Holding
Company, as aforesaid.

5. In preparing the Statement, the respective Board of Directors of the companies included in the
Group and of its joint venture, are responsible for assessing the ability of the Group and of its
joint venture, 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/ management either intends to liquidate the Group or to cease operations, or has no
realistic alternative but to do so.

6. The respective Board of Directors of the companies included in the Group and of its joint
venture, are responsible for overseeing the financial reporting process of the companies
included in the Group and of its joint venture.

Auditor's Responsibilities for the Audit of the Statement

7. Our objectives are to obtain reasonable assurance about whether the Statement as a whole is
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 Standards on Auditing specified under
section 143(10) of the Act 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 this Statement.

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TELEPHONE: 2212-6253, 2212-801h
FAX: 00-91-33-22127476
BASU HOUSE
WEBSITE: www.gbasuandcompany. org
G. BASU & Co. 1STFLOOR
CHARTEREDACCOUNTANTS 3, CHOWRINGHEEAPPROACH
E-MAIL: s. lahiri@gbasu. hi
KOLKATA-700072

8. As part of an audit in accordance with the Standards on Auditing specified under section
143(10) of the Act, we exercise professional judgment and maintain professionalskepticism
throughout the audit. We also:

Identify and assess the risks of material misstatement of the Statement, 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 higherthan 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 on whether the Holding Company has
adequate internal financial controls system 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 made by the management.

Conclude on the appropriateness of management's 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 ability of the
Group and its joint venture, to continue as a going concern. 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 Statement 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 Group and its joint venture to
cease to continue as a going concern.

Evaluate the overall presentation, structure and content of the Statement, including the
disclosures, and whetherthe Statement represents the underlying transactions and events
in a manner that achieves fair presentation.

Obtain sufficient appropriate audit evidence regarding the financial statements/ financial
information of the entities within the Group, and its joint venture, to express an opinion on
the Statement. We are responsible for the direction, supervision and perfofmance of the
audit of financial information of such entities included in the Statement, of which we are the
independent auditors. For the other entities included in the Statement, which have been
audited by the other auditor, such other auditor remain responsible for the direction,
supervision and performance of the audits carried out by them. We remain solely
responsible for our audit opinion.

9. We communicate with those charged with governance of the Holding Company and such other
entity included in the Statement, of which we are the independent auditors, regarding, among
other matters, the planned scope and timing of the auditand significantauditfindings, including
any significantdeficiencies in internal control that we identify during our audit.

10. 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.

11 We also performed procedures in accordance with SEBI Circular CIR/CFD/CMD1/44/2019

. dated 29 March 2019, issued by the SEBI under Regulation 33 (8) of the Listing Regulations,
to the extent applicable.

^w\
^ KOLKATA
TELEPHONE: 2212-6253,2212-8016 BASU HOUSE
FAX: 00-91-33.2212 7476
WEBSITE: www.gbasuandcompany. org
G. BASU & Co. 1STFLOOR
CHARTEREDACCOUNTANTS 3, CHOWRINGHEEAPPROACH
E-MAIL:s.lahiri@gbasu.ht
KOLKATA-700072

Other Matters

12. The Statement includes the Group's share of net loss after tax of ? 0.51 crores, and total
comprehensive loss of ? 0. 51 crores for the year ended 31 March 2024, in respect of a joint
venture, based on their annual financial information, which have not been audited by their
auditor. These financial information have been furnished to us by the Holding Company's
management. Our opinion, in so far as it relates to the amounts and disclosures included in
respect of aforesaid joint venture, is based solely on such unaudited financial information. In
our opinion, and accordingto the information and explanationsgiven to us by the management,
these financial information are not material to the Group. Our opinion is not modified in respect
of this matter with respect to our reliance on the financial information certified by the Board of
Directors.

13. The Statement includes the consolidated financial results for the quarter ended 31 March 2024,
being the balancing figures between the audited consolidated figures in respect of the full
financial year and the published unaudited year to date consolidated figures up to the third
quarter of the current financial year, which were subject to limited review by us

For G Basu & Co

Chartered Accountants
Firm Registration No:

^ ^ KOLKAW ?/?
Subroto Lahiri ^____^
Partner \ ^OACG^
Membership No. 0517

UDIN: 2. ^05 /-7/7 B^PJ^ ^s 62-^2.

Place: New Delhi
Date : 02 May 2024
TELEPHONE:2212-6253, 2212-8016 BASU HOUSE
FAX: 00-91-33-2212 7476
WEBSITE: www.gbasuandcompany. org
G. BASU & Co. 1STFLOOR
E-MAIL:s.lahiri@gbasu.hi
CHARTERED ACCOUNTANTS 3, CHOWRINGHEE APPROACH
KOLKATA-700072

Annexure 1

List of entities included in the Statement

Subsidiaries:
H & B Stores Limited, Badshah Masala Private Limited, Dermoviva Skin Essentials INC, Dabur
International Limited, Dabur International FZE, Naturelle LLC, Dabur Egypt Limited, African
Consumer Care Limited, Dabur Nepal Private Limited, Asian Consumer Care Pakistan Private
Limited, Dabur Bangladesh Private Limited, Hobi Kozmetik, RA Pazarlama, Dabur Lanka Private
Limited, Namaste Laboratories LLC, Urban Laboratories International LLC, Hair Rejuvenation &
Revitalization Nigeria Limited, Healing Hair Laboratories International LLC, Dabur (UK) Limited,
Dabur Consumer Care Private Limited, DaburTunisie, Dabur Pakistan Private Limited, Dabur Pars,
DaburSouth Africa (PTY) Limited, D and A Cosmetics Proprietary Limited, Atlanta Body and hlealth
Products Proprietary Limited and Excel Investments FZE.

Joint venture:
Forum I Aviation Private Limited.

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Dabur India Limited

Statement of audited consolidatedfinancial results for the quarter and year ended 31 March 2024

(? in crores)
SI.No Particulars Quarter ended Preceding Corresponding Current year Previousyear
(31/03/2024) quarter ended quarter ended ended ended
(31/12/2023) (31/03/2023) (31/03/2024) (31/03/2023)

Refer note 6) (Unaudited) (Refer note 6) (Audited) Audited)

Income

Revenue from operations 2, 814. 64 3, 255. 06 2, 677.80 12,404.01 11, 529. 89

Other income 128.85 127. 37 120. 72 482.41 445. 39
Total income 2,943.49 3, 382. 43 2,798.52 12, 886. 42 11, 975. 28
Expenses
Cost of materials consumed (including excise duty) 1,219.62 1, 270. 40 1,446.83 5, 186. 90 5, 306. 97
Purchases of stock in trade 280.40 322. 81 149. 74 1,211. 11 1, 052. 49
Changes in inventories of finished goods, stock-in-trade and work-in- (53. 26) 79. 60 (145.54) 48. 95 (90. 79)
progress
Employee benefits expense 316. 23 310. 60 288.74 1, 239. 56 1, 137.00
Finance costs 35. 24 36. 49 32. 12 124. 18 78.24
Depreciation and amortisation expense 107. 36 96. 89 102.00 399. 21 310.96
Other expenses
Advertisement and publicity 183. 65 244.54 151. 63 849. 06 640. 27
Others 401. 19 359. 29 376. 56 1, 468. 20 1,319.83
Total expenses 2,490.43 2,720.62 2,402.08 10, 527. 17 9,754.97
Profit before share of loss from joint venture, exceptional items and tax 453. 06 661. 81 396. 44 2, 359. 25 2,220.31
Share of profit/(loss) of joint venture (0. 40) (0. 40) (0. 19) (0. 51) (1.63)
Profit before exce tional items and tax 452. 66 661.41 396. 25 2,358.74 2, 218. 68
Exce tional items
Profit before tax 452. 66 661.41 396. 25 2,358.74 2, 218. 68
Tax expense
Current tax 113. 46 152. 13 75. 90 539.53 481. 63
Deferred tax (2. 02) 2. 84 27. 59 7. 90 35. 72
8 Net rofit for the period/year (A) 341. 22 506. 44 292. 76 1, 811. 31 1, 701. 33
9 Other comprehensive income
a) Itemsthat will not be reclassified to profit or loss (18. 66) 5. 15 4. 22 (2. 93) (2. 21)
Income tax relating to items that will not be redassified to profit or loss 6. 55 (1. 80) (1. 48) 1.05 0. 77

b) Items that will be reclassified to profit or loss (73. 19) 11. 66 (102. 47) (78. 91) (247. 93)
Income tax relating to items that will be reclassified to profit or loss (4. 31) (3. 25) (2. 22) (11. 09) 23. 98

10 Total othercomprehensiveincome/floss)forthe eriod/ ear(B) (89. 61) 11. 76 (101.95) (91. 88) (225. 39)
11 Total comprehensive income for the period/year (A+B) 251.61 518. 20 190. 81 1,719.43 1,475.94

Net profit attributable to:

Owners of the holdin company 349.53 514. 22 300.83 1, 842. 68 1,707. 15
Non-controlling interest (8. 31) (7. 78) (8.07) (31. 37) (5. 82)

Othercomprehensive income attributable to:

Owners of the holdin company (89. 60) 11. 76 (104. 69) (91. 86) (225.49)
Non-controlling interest (0.01) 2.74 (0. 02) 0. 10.

Total com rehensiue income attributable to:

Owners of the holding company 259. 93 525. 98 196. 14 1, 750. 82 1,481. 66
Non-controlling interest (8.32) (7. 78) (5.33) (31. 39) (5. 72)

12 Paid-u e uit share ca ital (Face value of? 1 each) 177. 20 177. 20 177. 18 177. 20 177. 18
13 Other e ui 9, 689. 10 8,796.08
14 Earningsper share (Facevalue of? 1 each) (not annualised)
Basic (?) 1. 97 2. 90 1. 70 10.40 9. 64
Diluted (?) 1. 97 2. 90 1. 69 10. 38 9. 61

-9^
Dabur India Limited
Auditedconsolidatedsegmentwise revenue, results, assetsand liabilitiesforthe quarterandyearended31 March2024

(? in crores)
SI.No Particulars Quarter ended Preceding Corresponding Current year Previous year
(31/03/2024) quarter ended quarter ended ended ended
(31/12/2023) (31/03/2023) (31/03/2024) (31/03/2023)

Refer note 6 Unaudited Refer note 6 Audited Audited

Segment revenue
A. Consumer care business 2, 213. 96 2, 741. 78 2, 096. 65 9,942.20 9, 261. 51
B. Food business 527. 69 442. 12 521. 17 2, 178. 59 1,981.56
C. Retail business 30.88 32. 91 27. 48 123. 37 110. 96
D. Other segments 31. 81 29. 08 23. 37 122. 79 137. 53
E. Unallocated other operating revenue 10.30 9. 17 9. 13 37. 06 38. 33
Revenuefrom operations 2, 814. 64 3,255.06 2, 677. 80 12, 404. 01 11,529.89
Segment results
A. Consumer care business 450. 28 666. 17 388. 34 2, 304. 53 2, 041.76
B. Food business 67. 59 62. 75 71. 08 303. 60 313. 56
C. Retail business 0. 84 0. 62 (1. 16) 1. 27 (1.25)
D. Other segments 1. 68 3. 05 3. 09 11.84 16. 00
SubTotal 520. 39 732.59 461. 35 2, 621. 24 2, 370. 07
Less: Finance costs 35. 24 36. 49 32. 12 124. 18 78. 24
Less: Unallocable expenditure net off unallocable income 10. 21 12.42 10. 92 50. 33 49. 65
Less: Amortisation of intangible assets recognised on consolidation 21. 88 21. 87 21. 87 87.48 21. 87
Profit before share of loss from joint venture, exceptional items and 453. 06 661. 81 396.44 2, 359. 25 2, 220. 31
tax
Share of rofit loss of'oint venture (0.40) (0. 40) (0. 19) (0. 51 1. 63
Profit before exceptional items and tax 452. 66 661.41 396. 25 2, 358. 74 2,218.68
Exce tional items
Profit before tax 452. 66 661.41 396. 25 2, 358. 74 2, 218.68
Less: Tax expenses 111.44 154. 97 103. 49 547.43 517. 35
Net rofit for the eriod/ ear 341. 22 506.44 292. 76 1, 811. 31 1,701.33
Segment assets
A. Consumer care business 5, 348. 25 5, 394. 96 5, 053. 27 5, 348. 25 5, 053. 27
B. Food business 1, 583. 66 1, 588. 06 1,345.35 1, 583. 66 1, 345. 35
C. Retail business 120. 90 122. 67 106. 44 120. 90 106. 44
D. Other segments 66. 51 64. 18 71.51 66. 51 71. 51
E. Unallocated 8, 003. 36 8, 156. 93 7, 077. 80 8, 003. 36 7, 077. 80
Total 15, 122. 68 15, 326. 80 13, 654. 37 15, 122. 68 13, 654. 37
Segment liabilities
A. Consumer care business 1, 912. 20 1, 943. 07 1, 609. 79 1, 912. 20 1, 609. 79
B. Food business 607. 46 602. 45 482. 03 607.46 482. 03
C. Retail business 142. 82 143. 02 121. 03 142. 82 121. 03
D. Othersegments 29. 52 27. 54 27. 72 29. 52 27. 72
E. Unallocated 2, 127. 60 2, 627. 92 1, 972. 37 2, 127. 60 1,972.37
Total 4,819.60 5, 344. 00 4, 212. 94 4, 819. 60 4, 212. 94

"^
Additionaldisclosuresas perregulation 52(4) ofSecurities& ExchangeBoardof India(ListingObligationsand Disclosure
Requirements) Regulations,2015on consolidatedfinancialresultsforthe quarterand yearended31 March2024:
? in crores exce t ratios

SI. No. Particulars Quarter ended Preceding Corresponding Current year Previous year
(31/03/2024) quarter ended quarter ended ended ended

(31/12/2023) (31/03/2023) (31/03/2024) (31/03/2023)

(Refer note 6) (Unaudited) (Refer note 6) (Audited) (Audited)

(a) Outstandingredeemable preference shares

Capital redemption reserve/debenture redemption
(b) reserve
Reserves (excluding revaluation/capital reserve) 9, 586.58 9, 333.58 8, 769. 16 9,586.58 8, 769. 16
(c)
Outstanding Debt 1, 365. 09 1, 844. 63 1, 173. 79 1,365.09 1, 173. 79
[Non-current borrowings (including current maturities)
(d) + Non-current lease liabilities + Current borrowings +
Current lease liabilities
534. 39 534. 27 520. 95 534. 39 520. 95
(e) Securities premium
Net worth 9, 763.78 9, 510. 78 8, 946. 34 9, 763. 78 8, 946. 34
(f) [Equity share capital + Other equity (excluding
revaluation ca ital reserve
Debt equity ratio 0. 14 0. 19 0. 13 0. 14 0. 13
[{Non-current borrowings (including current maturities)
(g) + Non-current lease liabilities + Current borrowings +
Current lease liabilities}/ Total equity]

Longterm debtto workingcapital 0. 42 0. 45 0. 71 0.42 0.71

[{Non-current borrowings + Non-current lease liabilities
(including current maturities of non-current borrowings
and non-current lease liabilities)}/ Current assets less
(h)
current liabilities (excludingcurrent maturities of non-
current borrowingand non-current lease liabilities)]

Total debtsto totalassetsratio (in %) 9.03% 12.04% 8.60% 9.03% 8. 60%

[{Non-current borrowings (including current maturities)
(i) + Non-current lease liabilities + Current borrowings +
Current lease liabilities}/Total assets]

Debt service coverage ratio 12. 67 17. 04 13. 04 17. 39 22. 72

[Profit before tax, finance costs, depreciation and
amortisation expense, exceptional items and Shareof
loss in Jointventure / {Financecosts + Principal
(j)
repayment for Non-current borrowingsand Non-
current lease liabilities (includingcurrent maturities of
non-current borrowingsand non-current lease
liabilities
Interestservice coverageratio 16.90 21.80 16.52 23.21 33. 35
[Profit before tax, finance costs, depreciation and
(k)
amortisation expense, exceptional items and Share of
loss in Joint venture / Finance costs]
Current ratio 1.45 1.37 1.18 1.45 1. 18
[Current assets/ Current liabilities]
Baddebtsto accountreceivableratio (in %) 0.01% 0.00% 0.00% 0.01% 0. 00%
(m)
[Bad debts / Avera e trade receivables]
Current liabilityratio (in %) 81.55% 83.02% 85.67% 81.55% 85. 67%
(n)
[Current liabilities/Total liabilities]
Debtorsturnover# 14.03 10.87 15.29 14.03 15. 29
(0)
[Sale of roducts/Avera e trade receivables]
Inventory turnover ft 13. 78 15. 26 13. 43 13. 78 13.43
(p) [Saleof products/Average inventory of finished goods
and stock in trade
Operating margin (in %) 16. 58% 20. 52% 15. 31% 19. 35% 18. 77%
[{Profit before tax, finance cost, depreciation and
(q) amortisation expense, exceptional items and Shareof
loss in Jointventure and other income}/ Revenue from
o erations
Net profit margin (in %) 12. 12% 15. 56% 10. 93% 14. 60% 14. 76%
(r)
Profit after tax/ Revenue from o erations]
# Based on TTM (Trailing Twelve Months)

^
 Dabur India Limited
Consolidated Statement of Assets and Liabilitiesas at 31 March 2024
rite
(? in crores)
Particulars As at As at
31/03/2024 31/03/2023
(Audited) (Audited)
A ASSETS
1 Non-current assets
(a) Property, plant and equipment 2,560.94 2, 237. 62
(b) Capital work-in-progress 209.09 171. 12
(c) Investment property 45. 45 47. 05

(d) Goodwill 405. 12 405. 25

(e) Other intangible assets 803.49 888.73

(f) Intangibleassets under development 23. 14 4. 01

(g) Investments in joint venture 7. 33 7. 84

(h) Financial assets
(i) Investments 5, 258.76 5,520.95
(ii) Others 20.83 30. 39
(i) Deferred tax assets (net) 6. 32 2. 09

(j) Non-currenttax assets (net) 4.45 4.49

(k) Other non-current assets 98. 14 85. 87

Total Non-current assets 9, 443. 06 9,405. 41

2 Current assets
(a) Inventories 1, 946.97 2,024. 20
(b) Financial assets
(i) Investments 1, 666. 60 736. 47
(ii) Trade receivables 898.72 848.75
(iii) Cash and cash equivalents 247. 60 146.82
(iv) Bank balancesother than (iii) above 418. 76 179. 10

(v) Others 42. 51 28. 97

(c) Current tax asset (net) 0.08 6.43

(d) Other current assets 458.38 278.22
Total current assets 5,679.62 4,248.96

TOTAL ASSETS 15,122.68 13,654.37

B EQUITYAND LIABILITIES
1 Equity
(a) Equityshare capital 177. 20 177. 18

(b) Other equity 9, 689. 10 8, 796. 08

Equity attributable to shareholders of the Company 9,866.30 8,973.26

(c) Non-controlling interest 436. 78 468.17
Total equity 10,303.08 9,441.43

2 Liabilities
Non-current liabilities

(a) Financial liabilities

(i) Borrowings 535.97 298. 84

(ii) Lease liabilities 170.27 144. 36

(iii) Otherfinancial liabilities 5.59 4. 95
(b) Provisions 68. 31 64. 37

(c) Deferred tax liabilities (net) 109. 03 90. 99

Total non-current liabilities 889.17 603.51
3 Current liabilities
(a) Financial liabilities
(i) Borrowings 622. 10 700.18
(ii) Lease liabilities 36. 75 30. 41

(iii) Trade payables

Due to micro and small enterprises 184.98 165.24
Due to others 2,236. 73 2,021.37
(iv) Other financial liabilities 312.60 279. 84

(b) Other current liabilities 112. 35 66. 70

(c) Provisions 249. 89 214.01

(d) Current tax liabilities (net) 175.03 131.68
Total current liabilities 3,930. 43 3,609.43

TOTALEQUITYAND LIABILITIES 15,122.68 13,654.37

^-
 Dabur India Limited
Consolidated statement of Cash Flowsfor the year ended 31 March 2024

(? in crores)
Particulars Current year Previous year
ended ended

(31/03/2024) (31/03/2023)
(Audited) (Audited)
CASH FLOW FROM OPERATING ACTIVITIES
Profit before tax 2, 358. 74 2, 218.68
Adjustments for:
Depredationand amortisation expense 399. 21 310.96
Loss/fgain) on disposal of property, plant and equipment (net) 1.78 (14.41)
Sharebased payment expense 50.43 51. 23
Provision for disputed liabilities 15.00 12.00
Provision for employee benefits 24.83 16. 69
Finance costs 124. 18 78. 24
Interest income (393. 10) (361. 13)
Unrealised foreign exchange loss/fgain) (net) 1.01 (4. 28)
Expected credit loss/impairment of financial and non-financial assets 8. 14 0.71
Shareof loss ofjoint venture 0. 51 1.63
(Gainj/loss on fair valuation of financial instruments (net) (39. 45) 1.26
Net gain on sale of financialassets measured at FVTPL (18. 51) (23.65)
Effect of exchange rates on translation of operating cashflows (126. 52) (144.98)
Operating profit before working capital changes and other adjustments 2,406.25 2, 142. 95
Workingcapital changesand other adjustments;
Inventories 77.24 (96. 02)
Trade receivables (55. 34) (190. 79)
Current and non-current financial assets (4. 92) 19. 32
Other current and non-current assets (203. 77) 17. 39
Trade payables 216. 57 141.30
Other current and non-current financial liabilities 26. 19 43. 11
Other current liabilities and provisions 45. 17 (94. 38)
Cash flow from operating activities post working capital changes 2, 507. 39 1,982.88
Directtaxes paid (net of refund) (493. 92) (494.45)
Net cash flow from operating activities (A) 2, 013. 47 1,488.43

CASH FLOWFROM INVESTINGACTIVITIES

Acquisitionof property, plantandequipment,capitalwork-in-progressandIntangibleassets (563. 86) (509. 09)
Proceeds from disposal of property, plant and equipment 2.98 23.38
Purchase of Investment in a Subsidiary (481. 32)
Purchase of investments / bank deposits (5, 142. 12) (4, 177. 43)
Proceedsfrom sale of investments / bankdeposits 4,344. 31 4, 163. 73
Interest received 386. 95 394. 19
Net cash generated used in investing activities (B) (971. 74) (586. 54)

CASH FLOWFROM FINANCINGACTIVITIES

Proceedsfrom issue of equity share capital 0.03 0. 39
Repayment of non-current borrowings (including current maturities) (11.85) (1. 26)
Proceed from of non-current borrowing 248.86
Repayment of current borrowings (666. 42) (884. 67)
Proceeds from current borrowings 382. 23 934.71
Principal payment of lease liabilities (28.94) (25.47)
Interest payment of lease liabilities (12. 65) (10. 63)
Purchase of non controlling interest (49. 10)
Dividend paid (965. 76) (921. 31)
Financecosts paid (106. 68) (77. 90)
Netcash used in financingactivities (C) (1, 161. 18) (1, 035. 24)

Decreasein cash and cash equivalents (A+B+C) (119. 45) (133. 35)
Cashand cash equivalents at the beginningof the year 97. 57 227. 17
Cashand cash equivalents acquired in a business combination 1.41
Impact of changes in exchange rates 0. 70 2. 34
Cash and cash equivalents at the end of the year (21. 18) 97. 57

Notes:
(a) Cash and cash equivalents comprises of:
As at As at
31/03/2024 31/03/2023
Cash and cash equivalents 247.60 146.82
Balances with banks in cash credit accounts (268. 78) (49.25)
Balances with banks in over draft accounts
Cashand cashequivalentsas per Consolidated Cash FlowStatement (21. 18) 97.57

(b)TheaboveConsolidatedCashFlowStatementhasbeenpreparedunderthe'IndirectMethod'assetoutinIndAS7,'StatementofCashFlows'

%-
Notes :
1 TheauditedconsolidatedfinancialresultsoftheCompanyforthequarterandyearended31March2024havebeenreviewedbytheAuditCommitteeandapprovedbytheBoard
ofDirectorsatitsmeetingheldon02May2024.Thestatutoryauditorshaveexpressedanunmodifiedopinionintheauditreportontheseconsolidatedfinancialresults.
2 TheCompany hasproposed a final dividend of? 2. 75pershare(275 % on parvalue of? 1 each)forthefinancialyear2023-24aggregating? 487. 31 crores.
3 Duringthe quarter,theCompanyhasallotted 2,252equitysharesoffacevalueof? 1 eachtotheeligibleemployeesoftheCompanyonaccountofexerciseofvestedstock
options pursuant to the Dabur Employee Stock Option Scheme, 2000.
4 TheCompanyhasappointedMr. RomeshSobti(DIN:00031034)asanadditionaldirectorinthecategoryof Non-ExecutiveIndependentDirectorw.e.f. 01April2024andMr.
Sushil ChandrafDIN: 10250863) hasresigned from the position of Non-Executive Independent Director oftheCompany effective from close ofbusiness hours of11March2024.
5 Thefigures ofthe previous periods/year have beenre-grouped/re-classified to renderthem comparable withthefigures ofthe current period.
6 Figuresforthequartersended31March2024and31March2023arethe balancingfiguresbetweenauditedfiguresforthefullfinancialyearandthereviewedyearto date
figuresuptothethird quarterofthe respectivefinancialyears. .
The keystandalonefinancialinformationofthe Companyis given below:
Particulars Quarter ended Precedingquarter Corresponding Current yearended Previous year ended
(31/03/2024) ended (31/12/2023) quarter ended (31/03/2024) (31/03/2023)
(31/03/2023)
Refer note 6 Unaudited) (Refer note 6) (Audited) (Audited)
Revenue from operations 2, 039. 46 2,414.36 1,939.48 9, 135. 60 8,684. 35
Profit before tax 373. 12 557. 29 319. 94 1,966. 70 1,828. 67
Net rofit for the period/year 283. 15 428. 12 233. 03 1, 509. 21 1, 373. 26
2.03 14. 05 9. 88 34. 59 (80. 56)
Other comprehensive income
Total comprehensive income for the period/year 285. 18 442. 17 242. 91 1, 543. 80 1,292. 70

For and on ehalfofBoardofDir rs

D^ Burma n
Chairman
DIN : 00021963
Place: New Delhi
Date:02 May 2024
TELEPHONE:2212-6253, 2212-8016 BASU HOUSE
FAX: 00-91-33.2212 7476
WEBSITE:www.gbasuandcompany.org
G. BASU & Co. 1STFLOOR
CHARTEREDACCOUNTANTS 3, CHOWRINGHEE APPROACH
E-MAIL:s.lahiri@gbasu.ht KOLKATA-700072

Independent Auditor's Report on Standalone Financial Results for the Quarter and Year
ended 31 March 2024

To the Board of Directors of Dabur India Limited

Opinion

1. We have audited the accompanying standalone financial results ('the Statement') of Dabur
India Limited ('the Company') for the quarter and year ended 31 March 2024, attached
herewith, being submitted by the Company pursuant to the requirements of Regulation 33 and
Regulation 52 read with Regulation 63 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 (as amended) ('Listing Regulations').

2. In our opinion and to the best ofour information and accordingto the explanationsgiven to us,
the Statement:

(i) presents financial results in accordance with the requirements of Regulation 33 and
Regulation 52 read with Regulation 63 of the Listing Regulations; and

(ii) gives a true and fair view in conformity with the applicable Indian Accounting Standards
('Ind AS')specified undersection 133ofthe CompaniesAct, 2013('the Act'), read with the
Companies (Indian Accounting Standards) Rules, 2015, and other accounting principles
generally accepted in India, ofthe standalone net profitaftertax and othercomprehensive
income and other financial information of the Company for the year ended 31 March 2024.

Basis for Opinion

3. We conducted our audit in accordancewith the Standardson Auditing specified under section
143(10) of the Act. Our responsibilities under those standards are further described in the
Auditor's Responsibilities for the Audit of the Statement section of our report. We are
independentof the Company in accordancewith the Code of Ethics issued by the Institute of
Chartered Accountants of India ('the ICAI') together with the ethical requirements that are
relevant to our audit of the financial results 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, is
sufficient and appropriate to provide a basis for our opinion.

Responsibilities of Managementand Those Chargedwith Governancefor the Statement

4. This Statement has been prepared on the basis of the standalone annual financial statements
and has been approved by the Company's Board of Directors. The Company's Board of
Directors is responsible for the preparation and presentation of the Statement that gives a true
and fair view of the net profit/loss and other comprehensive income and other financial
information of the Company in accordance with the Ind AS specified under section 133 of the
Act, read with the Companies (Indian Accounting Standards) Rules, 2015 and other accounting
principles generally accepted in India, and in compliance with Regulation 33 and Regulation
52 read with Regulation 63 of the Listing Regulations. This responsibility also includes
maintenance of adequate accounting records in accordance with the provisions of the Act for
safeguardingof the assets ofthe 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 design, implementation and maintenance
of adequateinternal financialcontrols thatwere operatingeffectivelyfor ensuringthe accuracy
and completeness of the accounting records, relevant to the preparation and presentation of
the Statement that gives a true and fair view and is free from material misstatement, whether
due to fraud or error. ^ ^.SU ($
0-
-0
'*
oiK.lLKATA
.

x. '-.

^ ^"
^ACC^^
TELEPHONE:2212-6253, 2212-8016 BASU HOUSE
FAX: 00-91-33-22127476 G. BASU <& Co. 1STFLOOR
WEBSITE: www.gbasuandcompany. org CHARTEREDACCOUNTANTS 3, CHOWRINGHEE APPROACH
E-MAIL: s.lahiri@gbasu. h» KOLKATA-7000T!

5. In preparingthe Statement, the Board of Directorsis responsiblefor assessingthe Company's

ability to continue as a going concern, disclosing, as applicable, matters related to going
concern, and usingthe going concern basisof accounting unless the Board of Directorseither
intends to liquidate the Company or to cease operations, or has no realistic alternative but to
do so.

6. The Board of Directors is also responsible for overseeing the Company's financial reporting
process.

Auditor's Responsibilities for the Audit of the Statement

7. Ourobjectives are to obtain reasonableassuranceaboutwhetherthe Statementas a whole is

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 Standards on Auditing, specified under
section 143(10) of the Act, will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individuallyor in the
aggregate, they could reasonably be expected to influence the economic decisions of users
taken on the basis of this Statement.

8. As part of an audit in accordance with the Standards on Auditing, specified under section
143(10) of the Act, we exercise professional judgment and maintain professional skepticism
throughout the audit. We also:

Identify and assess the risks of material misstatement of the Statement, 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
ofnot detectinga material misstatementresultingfrom fraud is higherthanforone 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 on whetherthe Company has in place
an adequate internal financial controls with reference to financial statements and the
operating effectiveness of such controls.

Evaluate the appropriateness of accounting policies used and the reasonableness of

accounting estimates and related disclosures made by the management.

Conclude on the appropriateness of the management's 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 Company's
abilityto continue as a going concern. Ifwe concludethat a material uncertaintyexists, we
are required to draw attention in our auditor's report to the related disclosures in the
Statement 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 Statement, including the
disclosures, and whetherthe Statement represents the underlying transactions and events
in a manner that achieves fair presentation.

9. 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.
^su<$
TELEPHONE:2212-6253, 2212-8016 BASU HOUSE
FAX :00-91-33-22127476 G. BASU & Co. 1STFLOOR
WEBSITE:www.gbasuandcompany.org CHARTERED ACCOUNTANTS 3, CHOWRINGHEE APPROACH
E-MAIL:s.lahiri@gbasu.hi KOLKATA-700072

10. 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 thoughtto bearon our independence,
and where applicable, related safeguards.

Other Matter

11. The Statement includes the financial results for the quarter ended 31 March 2024, being the
balancing figures 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 G Basu & Co

Chartered Accountants
Firm Registration No\^SM^
"/"^'
^ co
/ ^eJ^^'^ g{ KOLKATA
'*

Subroto Lahiri ^x.

^7^
i
Partner S'^OACG^:
Membership No. 05171

UDIN: 2-lf05/7/7 8^y:'Dx/^"73>3^

Place: New Delhi
Date : 02 May 2024
Dabur India Limited
Statement of auditedstandalonefinancialresults for the quarterandyearended 31 March 2024 ^fc
(? in crores)
SI.No Particulars Quarter ended Preceding Corresponding Current year Previous year
(31/03/2024) quarter ended quarter ended ended ended
(31/12/2023) (31/03/2023) (31/03/2024) (31/03/2023)
Refernote 6) (Unaudited) (Refer note 6) (Audited) (Audited)
1 Income
Revenue from operations 2, 039. 46 2, 414. 36 1, 939. 48 9, 135. 60 8,684.35
Other income 114. 18 101. 86 114. 76 417. 62 392. 17
Total income 2, 153.64 2, 516. 22 2,054.24 9, 553. 22 9, 076. 52
2 Expenses
Cost of materials consumed 779.37 791. 04 955. 43 3, 300. 25 3, 481. 46
Purchases of stock in trade 381. 79 388. 88 257.52 1, 579. 05 1, 398. 53
Changes in inventories offinishedgoods,stock-in-tradeandwork-in-progress (58.28) 100. 06 (131.31) 49. 18 (24. 98)
Employee benefits expense 194. 29 196. 89 179. 10 782. 14 725. 96
Finance costs 23. 45 23. 92 18. 72 81. 14 46. 37
Depreciation and amortisation expense 54. 19 52. 17 50. 21 208. 86 188. 29
Other expenses
Advertisement and publicity 145. 87 189. 74 126.61 675. 97 526. 70
Others 259. 84 216. 23 248.37 909. 93 875. 87
Total expenses 1, 780. 52 1, 958. 93 1, 704. 65 7, 586. 52 7, 218. 20
3 Profit before exceptional items and tax 373. 12 557. 29 349. 59 1, 966. 70 1, 858. 32

4 Exceptional items (29. 65) (29.65)

5 Profit before tax 373. 12 557. 29 319. 94 1,966. 70 1, 828. 67
6 Tax expense
Current tax 86. 28 125. 17 63. 36 443. 80 423.86
Deferred tax 3. 69 4. 00 23. 55 13. 69 31. 55
7 Net rofitfortheperiod/year(A) 283.15 428. 12 233. 03 1,509.21 1, 373. 26
8 Other comprehensive income
a) Items that will not be reclassified to profit or loss (18.70) 5. 15 3. 99 (2.97) (2. 44)
Incometax relatingto items that will not be reclassifiedto profit or loss 6.54 (1. 80) (1. 40) 1.04 0. 85

b) Itemsthat will be reclassifiedto profit or loss 18. 50 13. 95 9.51 47. 61 (102.95)
Incometax relatingto items that will be reclassifiedto profit or loss (4.31) (3. 25) (2. 22) (11.09) 23. 98

9 Total other comprehensive income/floss) forthe period/year(B) 2. 03 14. 05 9. 88 34. 59 (80.56)

10 Total comprehensive incomefor the period/ ear (A+B) 285. 18 442. 17 242. 91 1, 543. 80 1, 292. 70
11 Paid-u e uit share capital (Face value of ? 1 each) 177. 20 177. 20 177. 18 177. 20 177.18
12 Other equity 6, 738. 17 6, 109. 70
13 Earningsper share (Facevalue of? 1 each) (notannualised)
Basic (?) 1. 60 2. 42 1. 32 8. 52 7. 75
Diluted (?) 1. 59 2. 41 1. 31 8. 50 7. 73

9^
Dabur India Limited
Auditedstandalonesegmentwiserevenue,results,assetsandliabilitiesforthequarterandyearended31March2024
(? in crores)
Quarterended Precedingquarter Corresponding Current year Previous year
SI. No Particulars
(31/03/2024) ended quarter ended ended ended

(31/12/2023) (31/03/2023) (31/03/2024) (31/03/2023)

Refer note 6) Unaudited) Refer note 6) (Audited) (Audited)

Segment revenue
1, 581. 40 2, 044. 82 1, 491. 91 7, 281. 46 6, 809. 98
A. Consumer care business
418. 83 334. 40 417. 14 1, 705. 25 1, 710. 07
B. Food business
32. 39 29. 08 23.37 123.37 137. 53
C. Other segments
6. 84 6. 06 7. 06 25. 52 26. 77
D. Unallocated other operating revenue
2, 039. 46 2,414. 36 1, 939. 48 9, 135. 60 8,684.35
Revenue from operations
Segment results
372. 65 558. 59 327. 41 1, 907. 85 1, 706. 63
A. Consumer care business
30. 52 30. 35 46. 68 171. 80 225. 53
B. Food business
1. 69 3. 05 3. 09 11.85 16. 00
C. Other segments
404. 86 591.99 377. 18 2, 091. 50 1, 948. 16
Sub Total
23. 45 23. 92 18. 72 81. 14 46. 37
Less: Finance costs
8. 29 10. 78 8. 87 43. 66 43. 47
Less:Unallocable expenditure net off unallocable income
373. 12 557. 29 349. 59 1, 966. 70 1, 858. 32
Profit before exceptional items and tax
Exceptional items (29.65) (29. 65)
373. 12 557. 29 319. 94 1, 966. 70 1, 828. 67
Profit before tax
89.97 129. 17 86.91 457. 49 455. 41
Less: Tax expenses
283. 15 428. 12 233. 03 1, 509. 21 1, 373. 26
Net profit for the period/year
Segment assets
3, 084. 37 3, 072. 44 2, 839. 36 3, 084. 37 2, 839. 36
A. Consumer care business
686. 28 667. 65 577. 27 686. 28 577. 27
B, Food business
59. 19 56. 45 63. 67 59. 19 63. 67
C. Other segments
6, 702. 97 6, 864. 98 5, 872. 14 6, 702. 97 5, 872. 14
D. Unallocated
10, 532. 81 10,661.52 9, 352. 44 10, 532. 81 9, 352. 44
Total
Segment liabilities
1,443.39 1, 425. 72 1, 196. 17 1, 443. 39 1, 196. 17
A. Consumer care business
314. 40 289. 65 241. 76 314.40 241. 76
B. Food business
29. 52 27. 54 27. 72 29. 52 27. 72
C. Other segments
D. Unallocated 1, 830. 13 2, 299. 52 1, 599. 91 1, 830. 13 1,599.91
3, 617. 44 4,042.43 3,065.56 3, 617. 44 3, 065. 56
Total

"Vy-
Additionaldisclosures as per regulation 52(4) of Securities& ExchangeBoard of India(ListingObligationsand Disclosure
Requirements) Regulations, 2015 on standalonefinancial results for the quarter andyear ended 31 March 2024:

?incrores exce t ratios

SI.No Particulars Quarter ended Preceding Corresponding Current year Previous year
(31/03/2024) quarter ended quarter ended ended ended
(31/12/2023) (31/03/2023) (31/03/2024) (31/03/2023)

(Refer note 6) (Unaudited) (Refer note 6) (Audited) (Audited)

(a) Outstanding redeemable preference shares

Capital redemption reserve/debenture redemption
(b) reserve
Reserves (excluding revaluation/capital reserve) 6, 711.25 6,414.97 6, 082. 78 6, 711. 25 6,082.78
(c)
Outstanding Debt 775. 96 1, 382. 47 615.46 775. 96 615. 46
[Non-current borrowings (including current maturities)
(d) + Non-current lease liabilities + Current borrowings +
Current lease liabilities
(e) Securities premium 534. 39 534. 27 520. 95 534. 39 520. 95
Net worth 6, 888. 45 6, 592. 17 6, 259. 96 6, 888.45 6, 259. 96
(f) [Equity share capital + Otherequity (excluding
revaluation ca ital reserve
Debt equity ratio 0. 11 0. 21 0. 10 0. 11 0. 10
[{Non-current borrowings (including current maturities)
(g)
+ Non-current lease liabilities + Current borrowings +
Current lease liabilities}/Total e uit
Long term debt to working capital 1. 03 3. 90 (0.79) 1. 03 (0. 79)
[{Non-current borrowings + Non-current lease liabilities
(including current maturities of non-current borrowings
and non-current lease liabilities)} / Current assets less
(h)
current liabilities (excluding current maturities of non-
current borrowing and non-current lease liabilities)]

Total debts to total assets ratio (in %) 7. 37% 12.97% 6. 58% 7. 37% 6. 58%
[{Non-current borrowings (including current maturities)
(i) + Non-current lease liabilities + Current borrowings +
Current lease liabilities}/Total assets]

Debt service coverage ratio 9. 24 22. 98 13. 31 18. 93 29. 76

[Profit before tax, finance costs, depreciation and
amortisation expense/ {Finance costs + Principal
U) repayment for Non-current borrowings and Non-
current lease liabilities (including current maturities of
non-current borrowings and non-current lease
liabilities)}]
Interest service coverage ratio 19. 22 26.48 22. 36 27. 81 45. 14
(k) [Profit before tax, finance costs, depreciation and
amortisation expense/ Financecosts]
Current ratio 1. 19 1.04 0. 85 1. 19 0. 85
(I) [Current assets / Current liabilities]
Bad debts to account receivable ratio (in %) 0. 01% 0. 00% 0.00% 0. 01% 0. 00%
(m) Bad debts / Avera e trade receivables
Current liability ratio (in%) 79. 92% 82. 01% 85.84% 79. 92% 85.84%
(n) Current liabilities/ Total liabilities]
Debtors turnovers 14. 07 10.59 16. 93 14. 07 16. 93
(0) Sale of roducts / Avera e trade receivables
Inventory turnover # 13. 99 18. 15 14. 92 13. 99 14. 92
(p) [Sale of products / Average inventory of finished goods
and stock in trade
Operating margin (in %) 16. 50% 22. 01% 15. 66% 20. 13% 19. 58%
[{Profit before tax, finance cost, depreciation and
(q) amortisation expense and other income}/ Revenue
from operations]
Net profit margin (in %) 13. 88% 17.73% 12. 02% 16. 52% 15.81%
(r) Profit after tax/Revenue from o erations
# Based on HM (Trailing Twelve Months)

^
 Dabur India Limited
Standalone Statement of Assets and Liabilities as at 31 March 2024

(? in crores)
Particulars As at As at
31/03/2024 31/03/2023
(Audited) (Audited)

A ASSETS
1 Non-current assets
(a) Property, plant and equipment 1,810.01 1, 595. 58
(b) Capital work-in-progress 161. 54 105.65
(c) Investment property 44. 39 45.38
(d) Intangibleassets 23. 80 3.78
(e) Intangibleassets under development 22. 69 21. 01
(f) Financial assets
(i) Investments in subsidiaries and joint venture 550.34 550. 34
(ii) Investments 4, 337.96 4, 652. 18
(iii) Loan to subsidiary 38.56 51. 41
(iv) Others 14. 43 20. 08
(g) Non-currenttax assets (net) 3. 99 3. 99
(h) Other non-current assets 92. 73 71. 76
Total non-current assets 7, 100.44 7, 121.16

2 Current assets
(a) Inventories 1, 149. 88 1, 223. 77
(b) Financial assets
(i) Investments 1, 260. 17 272. 53
(ii) Trade receivables 719. 21 561. 18
(iii) Cash and cash equivalents 10. 77 15. 35
(iv) Bank balances other than (iii) above 60. 34 18. 05
(v) Loan to subsidiary 12. 85 12. 85
(vi) Others 3. 55 7.53
(c) Other current assets 215.60 120. 02
Total current assets 3,432.37 2,231.28

TOTAL ASSETS 10,532.81 9,352.44

B EQUITY AND LIABILITIES

1 Equity
(a) Equity share capita] 177. 20 177. 18
(b) Other equity 6,738. 17 6, 109. 70
Total equity 6,915.37 6,286.88

2 Liabilities
Non-current liabilities
(a) Financial liabilities
(i) Borrowings 498. 93 249. 45
(ii) Lease liabilities 61.35 45. 21
(iii) Other financial liabilities 5. 59 4. 94
(b) Provisions 60. 04 57. 68
(c) Deferred tax liabilities (net) 100.50 76. 76
Total non-current liabilities 726.41 434. 04

3 Current liabilities
(a) Financial liabilities
(i) Borrowings 198. 99 307. 76
(ii) Lease liabilities 16. 69 13. 04
(iii) Trade payables
Due to micro and small enterprises 163. 74 164.52
Due to others 1, 895. 19 1, 654. 20
(iv) Other financial liabilities 263.37 218. 52
(b) Other current liabilities 74.49 70. 97
(c) Provisions 161.63 140.41
(d) Current tax liabilities (net) 116. 93 62. 10
Total current liabilities 2,891.03 2,631.52

TOTAL EQUITY AND LIABILITIES 10,532.81 9,352.44

^^
 Dabur India Limited
Standalone statement of Cash Flows for the year ended 31 March 2024

(? in crores)
Particulars Current year Previous year
ended ended
(31/03/2024) (31/03/2023)
(Audited) (Audited)
A CASH FLOW FROM OPERATING ACTIVITIES
Profit before tax 1, 966. 70 1, 828. 67
Adjustments for:
Depreciation and amortisation expense 208. 86 188. 29

Loss/fgain) on disposal of property, plant and equipment (net) 1. 34 (16.53)

Share based payment expense 45.82 46. 97
Provision for disputed liabilities 15.00 12.00
Provision for employee benefits 5. 60 4. 74
Finance costs 81. 14 46. 37
Interest income (317.24) (298. 03)
Unrealisedforeign exchange(gain)/loss (net) (0.02) 0. 05
Expected credit loss/impairment/fgain) of financial and non-financial assets 5.07 (7.01)
(Gain)/Loss on fair valuation of financial instruments (net) (39.44) 1. 26

Net gain on sale of financial assets measured atFVTPL (18. 51) (23.60)
Exceptional items 29. 65
Operating profitbefore working capital changes and other adjustments 1, 954. 32 1, 812. 83
Workingcapital changesand other adjustments:
Inventories 73. 89 14. 19
Trade receivables (158. 17) (113.54)
Current and non-current financial assets 13.31 6. 37
Other current and non-current assets (118.40) (14.01)
Trade payables 240. 20 237.83
Other current and non-current financial liabilities 34. 04 37. 08
Other current liabilities and provisions 4. 47 13. 51
Cashflow from operatingactivities post working capital changes 2, 043. 66 1, 994. 26
Directtaxes paid (net of refund) (390.33) (432.35)
Net cash flow from operatingactivities (A) 1, 653. 33 1,561.91

B CASH FLOW FROM INVESTING ACTIVITIES

Acquisitionof property, plantand equipment, capitalwork-in-progressandintangibleassets (456.55) (410.05)
Proceedsfrom disposal of property, plant and equipment 0. 93 21.38
Purchase of investments in a subsidiary (481.32)
Purchase of investments / bank deposits (4, 229. 13) (3, 964.84)
Proceeds from sale of investments / bank deposits 3, 617. 83 3, 945. 74
Interest received 316.57 334.78
Repayment received from/ (loan given to) subsidiary 12. 85 (64.26)
Net cash used in investing activities (B) (737.50) (618.57)

C CASH FLOW FROM FINANCING ACTIVITIES

Proceedsfrom issue of equity share capital 0. 03 0. 39
Proceedsfrom non-current borrowings(includingcurrent maturities) 248.86
Repayment of current borrowings (251.47) (857.69)
Proceeds from current borrowings 142. 70 903.58
Principal payment of lease liabilities (32. 13) (19. 10)
Interest payment of lease liabilities (5.97) (4. 85)
Dividend paid (965.76) (921.31)
Finance costs paid (58.08) (40.85)
Net cash used in financingactivities (C) (921.82) (939.83)

(Decreasej/lncrease in cash and cash equivalents (A+B+C) (5.99) 3. 51

Cash and cash equivalents at the beginningofthe year 15. 35 10. 47
Impact of changes in exchange rates 1. 41 1.37
Cashand cash equivalents at the end of the year 10. 77 15.35

Notes:
(a) Cash and cash equivalents comprises of:
As at As at
31/03/2024 31/03/2023
Cash and cash equivalents 10. 77 15. 35
Balances with banks in cash credit accounts
Balances with banks in over draft accounts
Cashand cash equivalents as per StandaloneCash FlowStatement 10. 77 15. 35

(b)TheaboveStandaloneCashFlowStatementhasbeenpreparedunderthe'IndirectMethod'assetoutin IndAS7,'StatementofCashFlows'.
^i-
Notes:

1 The audited standalone financial results ofthe Company for the quarter andyear ended 31 March 2024 have been reviewed bythe Audit Committee and approved bythe Board of
Directorsat itsmeetingheldon02May2024.Thestatutoryauditorshaveexpressedanunmodifiedopinionintheauditreportonthesestandalonefinancialresults.
2 The Company hasproposed a final dividend of? 2. 75 per share ( 275 % on parvalue of? 1 each) forthe financial year 2023-24 aggregating ? 487. 31 crores.
3 Duringthequarter,theCompanyhasallotted2,252equitysharesoffacevalueof? 1 eachtotheeligibleemployeesoftheCompanyonaccountofexerciseofvestedstockoptions
pursuantto the DaburEmployeeStockOption Scheme,2000.
4 TheCompanyhasappointedMr.RomeshSobti(DIN:00031034)asanadditionaldirectorinthecategoryofNon-ExecutiveIndependentDirectorw.e.f.01April2024andMr.Sushil
Chandra (DIN:10250863) hasresigned from the position of Non-Executive Independent Director ofthe Company effective from close ofbusiness hours of 11March 2024.
5 Thefiguresofthepreviousperiods/yearhavebeenre-grouped/re-dassifiedto renderthemcomparablewiththefiguresofthecurrentperiod.
6 Figuresforthequarters ended 31March2024and31March 2023arethebalancingfigures between auditedfiguresforthefullfinancialyearandthereviewed yeartodatefigures
upto the third quarter of the respective financial years.

For and on ehalf of Board of Dire s

^y^ o urman
Chairman
: 00021963

Place: New Delhi

Date: 02 May 2024
-ReftSEC/SE/2024.25
Date: May 2, 2024

To,
Corporate -Relations Department NationalStock Exch'angeof IndiaUd,
, BS£ w. ExchangePlaza,S*Ftodr
Pbiroze Jeejeebhoy Towe'rs Plat ;No. C/l, G Btock, Band Kur(a:Cgmpte»
pafalSreet, Mymbsi-400001 Bandra (E), Murobaf - 40QQ5I

BSE Scrip Code: 500096 NSE Scrip SymW;DA@UB

Sub; Submission ofdetails of Qutstandmp Ouatifted Borrowin s and Incremental Qualified

Borrown s atthettmeoffilln?o¥anriualfinancia!resyltsforthefinancial earended
on March 31 2024.

Pursuant to SEBI Qrcytar No. :SEB 0/DDNS/DDHS-RA(;PQD1. /R/CI'R/2023/172 dated:

October 19, 20!23, and emaits received from BSE Limitecl: and:N ational Stackfixchad-ge' oftad ja
timifed, we; wish to subniit thf foltowiftg flietaJts: atQng wfth the auctifed annual: financial
results forthe FinandatYear ended on MaFch31, 2Q24,,w<th regardto the largeCQrporates
ldisctosure:

S. Particulara Amounit
No.
1 Outstandtng Quaiified Borrowifigs at the start of the :Rs.336crores
financial^year
2 Outstanding Qualified Borrowings at the end of the Rs. 574crores
financial .year
3 Highest eredit rafing ofthe cQmpany (ICRAlAAA^Stable) bY ICRALJFnited
4 toeremeiltal bQrrowing done during the year Rs. 250crores
(qualified borroiwlng)
5 BorrowtngSi by way of issuance of debt seeurities Rs. 250crQres
during the year

This is for your infortTiatipn and records,

Thanking You,

Youfb rd itiifuSIy,
For Dabur India Umited

(
ASHOK S5S
KUMAR E
y). L>-~
ANKU
SH
1 ^t^^ JAIN (Anfeush Jain). JAIN
(A K Jain)
,

EVP(Finance) and eoftlpany SecretarY Chief Ftnaocial Officer