Ref:SEC/SE/2020-21 Date: May 27, 2020

Scrip Symbol: NSE- DABUR, BSE Scrip Code: 500096

To, Corporate Relation Department BSE Ltd Phiroze Jeejeebhoy Towers Dalal Street, Mumbai- 400001

National Stock Exchange of India Ltd Exchange Plaza, 5th Floor Plot No. C/l, G Block Bandra - Kurla Complex Bandra CE), Mumbai - 400051

Sub: Audited Financial and Seement-wise Results for the quarter and year ended on March 31.2020

In Compliance of 30 and 33 of the SEBI [Listing Obligations & Disclosure Requirements) Regulations, 2015, (hereinafter referred as 'Listing Regulations') we are pleased to submit the Audited Financial and Segment wise results of the Company [Consolidated as well as standalone), for the quarter and year ended on March 31, 2020 along with Auditors Report thereon and the statement of Assets and Liabilities as at the year ended on March 31, 2020 (Consolidated as well as standalone).

The above results have been duly approved by the Board of Directors of the Company in its meeting held today i.e. 27* May, 2020. The Board meeting commenced at 12.30 pm and concluded at 2.40 pm.

In terms of Regulation 47 of the Listing Regulations, the extract of consolidated financial results, in the prescribed format, shall be published on 28th May, 2020 in all editions of Financial Express [English Edition) and Delhi-NCR editions ofjansatta (Hindi daily).

The full format of the standalone artd consolidated Financial Results for the quarter and year ended on March 31, 2020 shall be available on the websites of the Stock Exchanges where equity shares of the Company are listed i.e. www.nseindia.com and www.bseindia.com and on the Company's website at www.dabur.com.

1. Pursuant to Regulation 30 and 43 of the Listing Regulations, we wish to inform you that the Board of Directors of the Company in its meeting held today has recommended Final Dividend of Rs. 1.60 per equity share having face value of Re. I/- each (i.e. 160%) for the financial year 2019-20.
1. Information regarding Book closure and dividend payment date, in case dividend is approved by the shareholders at the ensuing AGM the Company, will be informed in due course of time.

This is for your information and records.

Thanking You,

Yours faithfully,

For Dabur India Limited

Executfve V P (Finance) and Company Secretary

End: as above

DABUR INDIA LIMITCD, Punjabi Bhawan, 10, Rouse Avenue, New Dethi-110 002, Tel.: +91 11 71206000, 42786000 Fax: +91 11 23222051 Regd. Office: 8/3, Asaf All Road, New Delhi -110 002 (India) PAN: AAACD0474C, CIN: L24230DL1975PLC007908, Email: [email protected], Webslte: www.dabur.com

Walker Chandiok &.Co LLP

Walkar Chandlok & Co IU' 2'lstFto<x.DLFSquaf •jacaraiida Ma»s, OLF Fhs*» II Guiuyam-IZZOOZ iwfia

T +91 124 462 WOO F *S1124 492 aOOI

Independent Auditor's Report on Consolidated Annual Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

To the Board of Directors of Dabur India Limited

Opinion

1. We have audited the accompanying consolidated annual 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 (refer Annexure 1 for the list of subsidiaries and joint venture included in the Statement) for the year ended 31 March 2020, attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) ("Listing Regulations'), including relevant circulars issued by the SEBI from time to time.
1. In our opinion and to the best of our information and according to the explanations given to us and based on the consideration of the reports of other auditors on separate audited financial statements of the subsidiaries as referred to in paragraph 12 below, the Statement:
(i) includes the annual financial results of the following entities (refer Annexure 1 for the list of subsidiaries and joint venture included in the Statement);
(ii) is presented in accordance with the requirements of Regulation 33 of the Listing Regulations, read with SEBI Circular CIR/CFD/FAC/62/2016 dated 5 July 2016 (hereinafter referred to as 'the SEBI Circular'); and
(iii) gives a true and fair view in conformity with the applicable Indian Accounting Standards ('Ind AS') prescribed under Section 133 of the Companies Act, 2013 ('the Act'). read with relevant rules issued thereunder, 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 and joint venture, for the year ended 31 March 2020

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing ('SAs') 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 Accountants of India ('the ICAI') together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act, and the rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us and that obtained by the other auditors in terms of their reports referred to in paragraph 12 of the Other Matter section below is sufficient and appropriate to provide a basis for our opinion.

^ND^ Charterad Acesuntantt /^' Officti in Bengaluru, Chandigaih, Chenmi, Qwgaan, Hyderabiid, Kochi, Kolk^jffllumbai. New Delhi, c. 0 r- * *%% ^ ^ v ^ ACC^ and Pune

Walker Chandlok t Co LLP is reaistered wi(h limited liabiity wfttl id.entjtiGatian number AAC-MS5 anij As registated o«ice at L-41 Cowuught Circus, New Delhi, 110001 , hdia

Walker Chandiok &Co LLP

Management's and Those Charged with Governance Responsibilities 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 after tax and other comprehensive income, and other financial information of the Group including its joint venture in accordance with the accounting principles generally accepted in India, including the Ind AS prescribed under section 133 of the Act, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations, including SEBI Circular. 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/ management of the companies included in the Group and its joint venture, are responsible for maintenance of adequate accounting records in accordance with 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 hlolding Company, as aforesaid.
1. 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.
1. The respective Board of Directors/ management of the companies included in the Group and of its jointly 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

1. 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.
1. As part of an audit in accordance with the Standards on Auditing, 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 of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Independent Auditor's Report on Consolidated Annual Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) (Cont'd)

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 Group, and its joint venture (covered under the Act) have adequate internal financial controls system 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 appropriatenessof 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 whether the Statement represents the underlying transactions and events in a manner that achieves fair presentation.
Obtain sufficient appropriate audit evidence regarding the financial statements 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 performance 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 auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion.
1. We communicate with those charged with governance of the Holding Company and such other entities included in the Statement, of which we are the independent auditors, 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.
1. 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.
1. 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.

Other Matters

1. We did not audit the annual financial statements of 24 subsidiaries included in the Statement, whose financial information reflects total assets of ? 3,276.91 crores as at 31 March 2020, total revenues of ? 2,852.39 crores, total net profit after tax of ? 292.09 crores, total comprehensive income of ? 388.35 crores, and cash flows (net) of ? 61.57 crores for the year ended on that date, as considered in the Statement. These annual financial statements have been audited by other auditor whose audit report have been furnished to us by the management, and our opinion in so far as it relates to the amounts and disclosures included in respect of these subsidiaries is based solely on the audit report of such other auditor, and the procedures performed by us as stated in paragraph 11 above. Our opinion is not modified in respect of this matter.
1. The Statement also includes the Group's share of net loss after tax of ? 0.01 crores, and total comprehensive loss of ? 0.01 crores for the year ended 31 March 2020, in respect of a joint venture, based on their annual financial statements, which have not been audited by their auditor. These financial statements have been furnished to us by the Holding Company's management. Our opinion on the Statement, and our report in terms of Regulation 33 of the Listing Regulations, read with SEBI Clrcujars, in so far as it relates to the aforesaid joint venture, are based solely on such unaudited financi^igt^ /f''" In our opinion, and according to the

a 0 ^ T -n s ^ ^ ~-~- '^^'^

information and explanations given to us by the management, these financial statements are not material to the Group. Our opinion is not modified in respect of this matter.

The Statement includes the consolidated financial results for the quarter ended 31 March 2020, 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 Walker Chandiok & Co LLP Chartered Accountants Firm Registration No.: 001076N/N500013

Anupam Kumar Partner Membership No. 501531 UDIN: 20501531AAAACP5964

Place: Gurugram Date: 27 May 2020

Walker Chandiok^CoLLP

Annexure 1

List of entities included in the Statement

Subsidiaries:

H & B Stores Limited, Dermovia Skin Essentials INC, Dabur International Limited, Naturelle LLC, Dabur Egypt Limited, African Consumer Care Limited, Dabur Nepal Private Limited, Asian Consumer Care Pakistan Private Limited, Asian Consumer Care Private Limited, Hobi Kozmetik, RA Pazariama, 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, Dabur Tunisia, Dabur Pakistan Private Limited, Dabur Pars, Dabur South Africa (PTY) Limited, D and A Cosmetics Proprietary Limited, Atlanta Body and Health Products Proprietary Limited and Excel Investments FZE (w.e.f. 20 August 2019).

Joint venture:

Forum I Aviation Private Limited.

						(? in s) c ro re
SI .N o	Pa rti la cu rs	Q rte nd ed ua r e (3 1/ 03 /2 02 0)	Plr ed ing rte ec q ua r de d en (3 1/ 12 /2 01 9)	Co di rre sp on ng nd ed te qu ar r e (3 1/ /2 9) 03 01	C nt ur re ea r y de d en (3 1/ /2 0) 03 02	Pr iou nd ed ev s y ea r e (3 1/ /2 9) 03 01
		(R ef 4) ot er n e	(U d) ud ite na	(R ef 4) ot er n e	(A d) ud ite	(A ud ite d)
1	In co m e
	Re fro ion at ve nu e m op er s	1, 86 5. 36	2, 35 2. 97	2, 12 8. 19	8, 70 3. 59	8, 53 3. 05
	Ot he r i e nc om	75 .7 7	74 .4 6	66 .0 6	30 29 5.	29 6. 17
	To ta l in co m e	1, 94 1. 13	2, 42 7. 43	2, 19 4. 25	9, 00 8. 88	8, 82 9. 22
2	Ex pe ns es
	Co of ria ls ed (i lud ing ise d ) st te uty ma co ns um nc e xc	88 0. 62	92 7. 36	90 3. 20	3, 75 0. 66	3, 49 3. 41
	Pu rch f s ck in ad to tr e as es o	13 3. 59	17 9. 35	20 1. 97	67 4. 62	80 2. 98
	Ch s i inv rie f f ini sh ed ds ck -in ad d w k- in to to -tr an ge n en s o g oo , s e an or pr og re ss	(6 4, 61	) 67 .74 1	(3 ) 5. 84	(6 ) 5. 04	12 .6 4
	Em plo be fits ye e ne e xp en se	23 0. 06	24 4. 75	24 1. 88	94 7. 74	93 91 7.
	Fi sts na nc e co De iat ion nd rtis ion at	8. 56	10 .4 9	12 .4 0	49 .5 4	59 .5 8
	pr ec a a mo e xp en se Ot he r e xp en se s	58 .8 3	54 .4 0	46 .2 2	22 0. 45	17 6. 90
	Ad rti nd ub lic ity t a ve se m en p	10 0. 21	20 3. 45	97 .7 7
	O th er s	23 3. 23	23 7. 40	26 1. 99	64 9. 98 95 3. 28	60 8. 33 93 8. 22
	To l e ta xp en se s	1,5 80 .4 9	1, 92 4. 94	1, 72 9. 59	7, 18 1. 23	7, 02 9. 97
3	Pr of it b ef sh of fit fro jo int nd tio l it tu or e ar e p ro m v en re a e xc ep na em s	36 0. 64	50 2. 49	46 4. 66	1, 82 7. 65	1, 79 9. 25
	Sh fit/ ) o of jlo f j oi nt nt ar e p ro ss ve ur e	(0 9) .3	(0 5) .1	(0 5) .0	(0 1) .0	0. 96
4	Pr of it b ef ion al ite nd pt ta or e ex ce m s a x	36 0. 25	50 2. 34	46 4. 61	1, 82 64 7.	1, 80 0. 21
5	(r ef 3) Ex ion al ite pt ot ce ms er n e	20 .0 0	20 .0 0	75 .3 4	10 0. 00	.3 4 75
6	Pr of it be fo ta re x	34 0. 25	48 2. 34	38 9. 27	1, 72 64 7.	1, 72 4. 87
7	Ta ex pe ns e x Cu nt ta
	rre x De fe d ta rre x	22 3. 09	85 .7 9	14 5. 07	46 42 5.	40 6. 99
	Ne fit fo he iod /y t p r t ro er ea r	(1 64 .44 ) 28 1. 60	(2 .3 2) 39 8. 87	(1 27 .29 )	(1 0) 85 .7	(1 28 .3 7)
	p Ot he eh siv inc e r c om pr en e om			37 1. 49	1, 44 7. 92	1, 44 6. 25
) a	ifie fit Ite th at wi ll n ot be cla d to lo ms re ss p ro or ss	(3 ) 3. 28	1. 48	4. 17	(2 8. 83 )	1.8 9:
	ifie of Inc lat ing it ha ill t b cla d t it o r lo e t to s t t w om ax re em no e re ss o pr ss	11 .1 7	(0 6) .2	(0 1) .7	10 .3 9	(0 .2 2j !
b )	Ite th wi ll b cla sif ied fit lo at to ms e re ss p ro or ss	62 .1 5	14 .0 7	(1 .4 8)	13 0. 29
	Inc lat ing it ha ill be cla sif ied fit lo e t to s t t w to om ax re em re ss p ro or ss	(2 0) .4	(1 .03 )	(1 1) .2	(8 5) .1	0. 01 1. 21
9	To l c eh siv inc fo he iod /y ta r t om pr en e om e p er ea r	31 9. 24	41 3. 13	37 2. 26	1, 55 1. 62	1, 44 9. 14
	fit Ne t p ttr ib ut ab le to ro a :
	Ow of th ho ldi ne rs e ng c om pa ny	28 1. 17	39 7. 70	37 0. 43	1,4 44 .9 6	1,4 42 .3 3
	No llin int nt t n- cq ro g er es	0. 43	1. 17	1. 06	2. 96	3. 92
	Ot he eh siv inc tri bu ble at ta to r c om pr en e om e :
	Ow of th ho ldi ne rs e ng c om pa ny	36 .1 3	14 .2 5	1. 08	10 1. 59	1. 97
	No llin int nt t n- co ro g er es	1. 51	0. 01	(0 .3 1	2. 11	0. 92
I 10	Pa id- it ha ita l (F lue f ? h ) 1 up e qu y s re c ap ac e va o e ac	17 6. 71	17 6. 71	17 6. 63	17 6. 71	17
1 1	O th ity er e qu				6, 42 9. 04	6. 63 5, 45 5. 05
12	Ea ing ha (F alu of ? 1 e h) (n ali d) ot rn s p er s re ac e v e ac an nu se
	(? ) Ba sic	1. 59	2. 25	2. 10	8. 18	8. 17
	Di lut ed (? )	1. 59	2. 24	2. 09	8. 15	8. 14

SIGNED FOR IDENTIFICATION PURPOSE"

						(T in s) c ro re
S I.N o	Pa rti la cu rs	Q rte nd ed ua r e (3 1/ 03 /2 02 0)	Pr ed ing ec nd ed te qu ar r e 1/ /2 (3 12 01 9)	Co di rre sp on ng te nd ed qu ar r e (3 1/ /2 9) 03 01	C nt ur re y ea r de d en (3 1/ /2 0) 03 02	Pr io ev us y ea r de d en (3 1/ 03 /2 01 9)
		(R ef 4) ot er n e	(U ud ite d) na	(R ef 4) ot er n e	(A ud ite d)	(A d) ud ite
1	Se t r gm en ev en ue
	A. C bu sin on su me r c ar e es s	1, 59 0. 38	2, 06 1. 36	1, 78 8. 56	7, 38 1. 02	7, 13 2. 86
	B. F d bu sin oo es s	21 9. 44	22 8. 87	27 9. 07	1, 08 1. 76	1, 15 8. 61
	C. R ai l b ine et us ss	28 .2 7	34 .6 3	31 .4 6	12 4. 42	12 4. 39
	D. O th ts er s eg m en	20 .4 7	21 .6 7	21 .4 3	90 .3 5	89 .2 8
	E. U llo d he tin te ot e na ca r o pe ra g re ve nu	6. 80	6. 44	7. 67	26 .0 4	27 .9 1
	Re fro ion at ve nu e m op er s	1, 86 5. 36	2, 35 2. 97	2, 12 8. 19	8, 70 3. 59	8, 53 3. 05
2	Se ult t r gm en es s
	A. C bu sin on su m er c ar e es s	36 6. 58	50 0. 05	45 2. 03	1, 80 1. 05	1, 74 8. 20
	B. F d bu sin oo es s	23 .6 4	25 .2 8	45 .3 8	13 9. 90	17 5. 49
	C. R et ai l b ine us ss	(2 5) .2	(0 .1 5)	0. 92	(1 .9 0)	4 .1 2
	D. O th ts er s eg m en	(0 .9 5)	l.7 8	1. 35	4. 19	7 .3 0
	Su b To l ta	38 7. 02	52 6. 96	49 9. 68	1, 94 3. 24	1, 93 5. 11
	Le : F ina sts ss nc e co	8. 56	10 .4 9	12 .4 0	49 .5 4	59 .5 8
	Le : U llo ble dit ff al loc ab le inc t o ss na ca e xp en ur e ne un om e	17 .8 2	13 .9 8	22 .6 2	66 .0 5	8 76 .2
	Pr of it b ef sh of fit fro jo int nd tio l tu or e ar e p ro m v en re a e xc ep na ite m s	36 0. 64	50 2. 49	46 4. 66	1, 82 7. 65	1, 79 9. 25
	Sh fit/ of flo ) o f j oi nt nt e ar e p ro ss ve ur	(0 .3 9J	(0 5J .1	(0 .0 5)	(o i j .o	0. 96
	Pr of it b ef ion al ite d pt ta or e ex ce m s an x	36 0. 25	50 2. 34	46 4. 61	1, 82 7. 64	1, 80 0. 21
	Ex ion al ite (re fe 3) pt ot ce m s r n e	20 .0 0	20 .0 0	75 .3 4	10 0. 00	.3 4 75
	Pr of it be fo ta re x	34 0. 25	48 2. 34	38 9. 27	1, 72 7. 64	1, 72 4. 87
	Le : T ss ax e xp en se s	58 .6 5	83 .4 7	17 .7 8	27 9. 72	27 8. 62
	fit fo d/ Ne t p r t he io ro p er ye ar	28 1. 60	39 8. 87	37 1. 49	1, 44 7. 92	1, 44 6. 25
3	Se t a et gm en ss s
	A. C bu sin on su me r c ar e es s	3, 91 5. 51	3, 88 8. 89	3, 40 99 5.	3, 91 5. 51	3, 40 5. 99
	B. F d bu sin oo es s	88 5. 43	82 9. 04	84 7. 07	88 5. 43	84 07 7.
	C. R ai l b ine et us ss	14 0. 64	13 6. 12	63 .2 3	14 0. 64	63 .2 3
	D. Ot he ts r s eg m en	48 .8 0	48 .9 1	47 .3 9	48 .8 0	47 .3 9
	E. U llo d te na ca	4, 36 3. 63	4, 19 0. 34	4, 07 2. 96	4, 36 3. 63	4, 07 2. 96
	To l ta	9, 35 4. 01	9, 09 3. 30	8, 43 6. 64	9, 35 4. 01	8, 43 6. 64
4	Se t l ia bi liti gm en es
	A. C bu sin on su m er c ar e es s	1,2 58 .2 0	1, 31 5. 21	1, 16 02 5.	1, 25 8. 20	1, 16 5. 02
	B. F d bu sin oo es s	37 2. 59	35 6. 54	45 3. 85	37 2. 59	45 3. 85
	C. R ai l b ine et us ss	11 9. 73	11 0. 23	32 .0 0	11 9. 73	32 .0 0
	D. 0t he ts r s eg m en	16 .3 5	13 .4 3	14 .1 4	16 .3 5	14 .1 4
	E. U llo d te na ca	94 4. 93	98 6. 50	1, 10 8. 57	94 4. 93	1, 10 8. 57
	To ta l	2, 71 1. 80	2, 78 1. 91	2, 3. 58 77	2, 71 1. 80	2, 77 3. 58

v \^-

SIGNED ""° IDENTIFK ) PURPO^;::.'. »,]

Dabur India Limited Consolidated Cash Flow Statement for the year ended 31 March 2020

			(? in ) cro res
	Pa rtic ula rs	Cu nt rre ye ar	Pr iou ev s y ea r
		de d en	de d en
		(3 1/0 3/2 02 0)	(3 1/ /2 ) 03 0U
A	CA SH FL OW FR OM O PE RA TIN G A CT IVI TIE S
	Pr ofi t b efo tax re	1,7 27 .64	1,7 24 .87
	Ad jus fo tm ts en r:
	De cia tio nd isa tio ort pre n a am n e xp en se	22 0.4 5	17 6.9 0
	Pr ofi n d isp al of lan nd uip (ne t) t o rty t a nt os pro pe , p eq me	3. 99	(0. )1 71
	Sh ba d p nt are se ay me ex pe ns e	45 .2 1	.33 77
	Pr isio n f dis ted lia bil itie ov or pu s	4. 50	8. 94
	'Al low fo ted ed it l an ce r e xp ec cr os s	8. 60	4. 3Z
	Pr isio n f plo e b efi ts ov or em ye en	5. 39	8. 73
	Int st ere ex pe ns e	41 .12	49 .20
	Int inc st ere om e	(24 0) 1.2	(24 9) 9.3
	Sh of lo / ( fit) of jo int ntu are ss pro ve re	0. 01	(0 .96 )
	Un lise d f ign ch in (ne t) rea ore ex an ge ga	(3 ) .70	(3 .45 )
	Ga fa of fin (ne t) in ir v alu ati cia l in str ts on on an um en	(1 .13 )	(0 .79 )
	I N in le of fin cia l a red FV TP L et ets at ga on sa an ss m ea su	(1 0) 6.9	(6 .15 )
	I N in le of Fin cia l a red FV OC I et ets at ga on sa an ss m ea su	(6 .90 )	(1 .45 )
	I N et in le of fin cia l a ets red at ort ise d c t ga on sa an ss m ea su am os	(1 ) .87
	Eff f e ha sla tio f o ing sh flo t o ate n t rat ec xc ng e r s o ran n o pe ca ws	95 .2 9	5. 21
	s ( ref 3) I E tio l it te xc ep na em er no	10 0.0 0	.34 75
	Op tin rof it b efo rki pit al ch nd he dju ot stm ts era g p re wo ng ca an ge s a r a en	1,9 80 .50	1,8 67 .94
	W kin ita l c ha d o the dju stm ts: or g c ap ng es an r a en
	Inv rie to en s	(7 2) 9.0	(44 ) .35
	Tr ad eiv ab les e r ec	14 .28	(13 0.2 5)
	Cu d n fin cia l a nt nt ets rre an on -cu rre an ss	14 .74	24 .1 3
	Ot he t a nd t a ets r c urr en no n-c urr en ss	(10 7.2 1)	23 .38
	Tr ad ab les e p ay	25 .9 9	45 .1 1
	Ot he t a nd t fi ial lia bil itie r c urr en no n-c urr en na nc s	31 .7 1	28 .78
	Ot he t li ab ilit ies d p isio r c urr en an rov ns	41 .5 7	35 .12
	I C h f low fro tin cti vit ies rki pit al ch st as m op era g a po wo ng ca an ge s	1,9 22 .56	1,8 49 .86
	(ne d) I D ire ct tax id t o f re fun es pa	(30 S. ) 94	(35 3) 0.7
	Ne h f low fr tin cti vit ies (A ) t c as om op era g a	1,6 13 .62	1.4 99 .13
B	CA SH OW S F RO ES G A CT S FL M INV TIN IVI TIE
	Ac isit ion of pla d e ipm ita l w ork -in nd in gib le ert nt t, c tan ts qu pr op y, an qu en ap -pr og res s a as se	(4 17 .46 )	(23 5) 4.3
	Pr ds fro dis l o f p pla d e ipm ert nt t oc ee m po sa rop y, an qu en	16 .97	9. 34
	Pu rch f in / b k d its stm ts as e o ve en an ep os	(8 ,47 8.7 8)	(5 7) ,39 2.7
	Pro ed s f le of inv / b k d its tm ts ce rom sa es en an ep os	8, 11 4.2 2	5,7 10 .25
	Int eiv ed st ere rec	24 8. 21	24 4.4 4
	) / Ne h ( ed in flo fro inv tin cti vit ies (B ) t c as us w m es g a	(5 16 .84 ;	33 6.9 1
c	ICA SH OW S F RO CIN G A CT S FL M FIN AN IVI TIE
	[Pr ds fro iss of uit ha pit al oc ee m ue eq y s re ca	0. 08
	I R of t b ing s ( inc lud ing itie s) nt nt tur ep ay me no n-c urr en orr ow cu rre ma	(17 5. 10 ]	0. 48 1.9
	I P ds fro bo wi s ( t) nt roc ee m cu rre rro ng ne	2.8	(27 6] 31 .8 1
	I P of lea lia bil itie nt ay me se s	(18 8] .78
	Div ide nd id pa	(38 ] (5 12 .45 ;	(1, 32 4.7 1;
	Div ide nd di ibu tio id str n t ax pa	(10 5.3 4;	(27 2.3 0;
	Fin sts id an ce co pa	(28 .50 ;	(5 1.5 2;
	n f s ( C) Ne t c h u d i ina ing tiv itie as se nc ac	(1 ,04 2.9 7	(1, 88 8.2 0;
	Inc / ( de e) in sh d c h e iva len (A+ B+ C) ts rea se cre as ca an as qu	.S 53 l	(52 .16 ]
	Ca sh d c h e iva len the be gin nin f th ts at an as qu g o e y ea r	37 .72	S9 .2 1
	t lis ed fo rei ch in un rea gn ex an ge ga	0. 21	0. 67
	Ca sh d c h e iva len the d o f th ts at an as qu en e y ea r	91 .74	37 .72

Notes:

(a) Cash and cash equivalents comprises of:

	As t a 31 /0 3/ 20 20	As t a 31 /0 3/ 20 19
Ca sh d c h e iva len ts an as qu	16 3.9 4	10 7.6 9
Ba lan ith ba nk s i h c red it a nts ce s w n c as cc ou	(56 ) .73	(54 ) .30
raf Ba lan ith ba nk s i r d t a nts ce s w n o ve cc ou	(15 .47 )	(1 5.6 7)
Ca sh d c h e iva len r C lid d C h F low S ts ate tat t an as qu as pe on so as em en	91 .74	37 .72

(b) The above Consolidated Cash Flow Statement has been prepared under the 'Indirect Method" as set out in Ind AS 7, 'Statement of Cash Flows'.

•V

Notes:

1 The audited consolidated financial results of the Company for the quarter and year ended 31 March 2020 have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 27 May 2020. The statutory auditors have expressed an unmodified audit opinion on these consolidated financial results.
2 The Company has proposed a final dividend of ? 1.60 per share(160 % on par value of? 1 each) for the financial year 2019-20 aggregating to ? 282.74 crores.
3 The exceptional item for the quarter and year ended 31 March 2020 represents provision for impairment in the value of treasury investment due to rating downgrade and default in repayment.
4 Figures for the quarters ended 31 March 2020 and 31 March 2019 are the balancing figures between audited figures for the full financial year and the reviewed year to date figures upto the third quarter of the respective financial years.
5 The Group has adopted Ind AS 116 "Leases" effective 1 April 2019, as notified by the Ministry of Corporate Affairs(MCA) in the Companies (Indian Accounting Standard) Amendment Rules, 2019, using modified retrospective method. The adoption of this standard has resulted in recognition of lease liability and rightof-use assets amounting to? 149.04 crores and ? 153.46 crores respectively as at 1 April 2019, however it did not have any material impact on the profit of the quarter and year ended 31 March 2020.
6 The outbreak of Covid-19 pandemic is causing significant disturbance and slowdown of economic activities globally. The nationwide lockdown ordered by the Government of India has resulted in significant reduction in economic activities and also the business operations of the Company in terms of sales and production. The management has considered the possible effects that may result from the pandemic on the recoverability/carrying value of the assets. Based on the current indicators of future economic conditions, the management expects to recover the carrying amount of the assets, however the management will continue to closely monitor any material changes to future economic conditions. Given the uncertainties, the final impact on Company's assets in future may differ from that estimated as at the date of approval of these financial results.
7 During the current quarter, the Company has provided ? 35.64 crores in other comprehensive income (OCI) for changes in remeasurement of the defined benefit plan assets due to impairment in the value of investments of the Provident Fund Trust of the Company.
8 During the quarter ended 31 March 2020, long term investments amounting to ? 365.30 crores and ? 249.35 crores have been invested and redeemed respectively.
⁹ The key standalone financial information of the Company is given below:

Pa rti la cu rs	Q rte nd ed ua r e (3 1/ 03 /2 02 0)	Pr ed ing rl rte ec q ua de d en (3 1/ 12 /2 01 9)	Co di rre sp on ng nd ed te qu ar r e (3 1/ 03 /2 01 9)	Cu nd ed nt rre y ea r e (3 1/ 03 /2 02 0)	Pr io ev us ea r y de d en (3 1/ /2 9) 03 01
	(R ef 4) ot er n e	(U ud ite d) na	(R ef 4) ot er n e	(A ud ite d)	(A ud ite d)
Re fro tio ve nu e m o pe ra ns	1, 32 1. 15	1, 74 8. 18	1, 59 8. 43	6, 30 9. 80	6, 27 3. 19
Pr of it be fo ta re x	30 9. 33	40 1. 51	42 1. 84	1, 40 8. 47	1, 50 3. 35
Ne fit fo he io d/ t p r t ro p er ye ar	25 7. 00	33 0. 00	41 4. 33	1, 17 0. 35	1, 26 4. 29
Ot he eh siv inc r c om pr en e om e	(1 ) 5. 09	4. 61	6. 58	7. 50	(3 7) .1
To l c eh siv inc fo he iod /y ta r t om pr en e om e p er ea r	24 1. 91	33 4. 61	42 0. 91	1, 17 7. 85	1, 26 1. 12

¹⁰ The Company is not a large corporate as per the applicability criteria given under the SEBI Circular SEBI/HO/DDHS/CIR/P/2018/144 dated 26 November 2018 and has informed the same to stock exchanges on 26 May 2020.

SIGNED FOR IDENTIFICATION PURPOSES

For and on behalf of Board of Directors

^·K 0 .

Amit Burman Chairman DIN : 00042050

Place: New Delhi Date: 27 May 2020

Pa rti cu			(?
	la rs	A at s	A at s
		31 /0 3/ 20 20	/0 3/ 31 20 19
		(A d) ud ite	(A ud ite d)
AS SE	TS
No n-	nt ts cu rre as se
(a ) P	la nd ip rty nt t ro pe , p a e qu m en	1, 82 0. 98	1, 54 7.
(b ) C	ita l w k- in ap or -p ro gr es s	14 6. 57	63
(c ) I	tm t p rty nv es en ro pe	51 .5 5	52
(d )	G dw ill oo	33 5. 97	33 6.
(e ) O	th in ib le ta ts er ng as se	44 .1 8	32
(f) F	in ci al et an a ss s
	(i) I tm ts nv es en	1,4 09 .2 3	2, 63 3.
	(ii ) Lo a ns	24 .6 4	17
	(ii i) O th e rs	52 8. 48	77
(g ) D	ef d (n ) ta ts et er re x as se	22 .0 0
(h ) N	(n ) nt ta ts et on -c ur re x as se	1. 09	0.
(i) O	th nt et er n on -c ur re a ss s	89 .0 6	88
To l N ta	nt ts on -c ur re as se	4, 47 3. 75	4, 85 0.
Cu rre	nt ts as se
(a )	In ie nt ve or s	1, 37 9. 57	30 0.
(b ) F	in ci al et an a ss s		1,
	(i) I tm ts nv es en	91 .0 3
	(ii ) T de iv ab le ra re ce s	1,3 81 3. 89	72 5. 3.
	(ii i) Ca sh nd h uiv al ts a c as en	16 3. 94	83
	eq (iv ) B k ba la th th (i ii) ab an nc es o er an ov e	64 43 7.	10 22
	(v ) Lo an s	13 .0 7
	(v i) O th er s	2. 62	11
(c ) C	t ( t) nt ta ur re x as se ne	0. 88	26
(d ) O	th nt et er c ur re a ss s	46 7. 56	1. 35
(e ) A	he ld fo al et ss s r s e	0. 27	0.
To l c ta	nt ts ur re as se	4, 88 0. 26	3, 58 6.
TO TA	L A SS ET S	9, 35 4. 01	8, 43 6.

EQ UI	TY A ND L IA BI LIT IE S
ui
Eq	ty ha ita l s re c
(a ) E	ity qu ap th er e	17 6. 71	17
(b ) O	ity qu uit tri bu ble ha ho lde of th Co at ta to s re rs e m	6, 42 9. 04	5, 45
	Eq pa ny y llin in	6, 60 5. 75	5,
(c ) N l e ta	tro te st on -c on g re ity qu	36 .4 6 6, 64 2. 21	5,
Li ab	ilit ie s
No n-	li ab ilit ie nt cu rre s
	in ci al li ab ilit ie an s
(a ) F	B in or ro w
	(i) gs fi th ia l l ia bi lit ie er na nc s	16 2. 89
	(ii ) O	4. 66
(b )	P vi si ro on s	62 .9 4
(c ) D l n ta	ef d lia bi lit ie (n ) ta et er re x s li ab ilit ies nt on -c ur re	17 .4 3 24 7. 92	11
C ur	li ab ilit ie nt re s
	in ci al li ab ilit ie an s
(a ) F	B in or ro w
	(i) gs de ab le ra s	30 4. 24	49
	(ii ) T p ay Du icr d al l e ise to nt e m o an sm er s
	pr Du th to e o er s	44 .7 4
	O th fi ia l l ia bi lit ie er na nc s	1,4 37 .4 1 22 5. 5:	1,4
	(ii i) th li ab ilit ie nt er c ur re s		32
(b ) O	P vi si ro on s	23 9. 78	19
(c )	lia bi lit ie nt ta et ur re x s	16 5. 54	13
To To (d ) C To l c ta	(n ) ^ li ab ilit ie nt ur re s	46 .6 5	6. 5. 63 31 66 3. 26 4. 59 23 3. 8. 54 00 7. 8. 0. 50 0.
TO TA	/ C \ \ % s QU S L E ITY A ND L IA BI LIT IE '-13	2, 46 3. 88 ^9 ,3 54 .0 1	2, 66 8, 43

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PURPOSES

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Walker Chandiok &S:o LLP

Walker Chandiok & Co LLP (Formerly Walker, Ctlandiok & Co) 21st Floor, DLF Square Jacaranda Marg, DLF Phase II Gureaon 122002 India

T+91 1244628000 F +91 124 462 8001

Independent Auditor's Report on Standalone Annual Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

To the Board of Directors of Dabur India Limited