The Company has trading operations in oil palm business whereby the Company purchases the saplings and sells the saplings once it has achieved the desired growth. During the year ended March 31,2025, the Company purchased 22,39,381 (Previous year: 29,31,037) number of saplings, out of which 22,39,381 (Previous year: 29,31,037) were still under cultivation.

B. Measurement of Fair value

i. Fair Value hierarchy

The fair value measurements for oil palm saplings has been categorised as Level 3 fair values based on the inputs to valuation technique used.

ii. Level 3 Fair values

C. Risk Management strategies related to agricultural activities

The Company is exposed to the following risks relating to its Oil Palm business.

i. Regulatory and environmental risks

The Company is subject to laws and regulations in the country in which it operates. It has established various environmental policies and procedures aimed at compliance with the local environmental and other laws.

ii. Supply and demand risks

The Company is exposed to risks arising from fluctuations in the price and sales volume of plants. When possible, the Company manages this risk by aligning its harvest volume to market supply and demand. Management performs regular industry trend analysis for projected harvest volumes and pricing.

iii. Climate and other risks

The Company’s Oil Palm business is exposed to the risk of damage from climatic changes, diseases, forest fires and other natural forces. The Company has extensive processes in place aimed at monitoring and mitigating those risks, including regular plantation health surveys and industry pest and disease surveys.

A reasonably possible change of 10% in estimated cost of completing the stock under cultivation at the reporting date would have increased (decreased) profit or loss by the amounts shown below.

4 Rights, preferences and restrictions attached to

Equity Shares: The Company has one class of Equity shares having a par value of ' 10 per share. Each Share holder is eligible for one vote per share held. All Equity Shareholders are eligible to receive dividends in proportion to their shareholdings. The dividends proposed by the Board of Directors are subject to the approval of the Shareholders in the ensuing Annual General Meeting. In the event of liquidation, the Equity Shareholders are eligible to receive the remaining assets of the Company, after distribution of all preferential amounts, in proportion to their share holding.

* Pursuant to Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, the Company had received approval from the Stock Exchanges i.e, BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”) vide letters dated December 30, 2024 for reclassification of Mr. Jamshyd Naoroji Godrej, Mrs. Pheroza Jamshyd Godrej, Ms. Raika Jamshyd Godrej, Mr. Navroze Jamshyd Godrej, Ms. Smita Godrej Crishna, Mr. Vijay Mohan Crishna, Ms. Nyrika Holkar, Ms. Freyan Crishna Bieri, Mr. Rishad Kaikhushru Naoroji, Mr. Jamshyd Godrej, Mrs. Pheroza Godrej & Mr. Navroze Godrej (Trustees of the Raika Godrej Family Trust), Mr. Jamshyd Godrej, Mrs. Pheroza Godrej & Mr. Navroze Godrej (Trustees of Navroze Lineage Trust), Mr. Jamshyd Godrej, Mrs. Pheroza Godrej & Mr. Navroze Godrej (Trustees of Raika Lineage Trust), Mr. Jamshyd Godrej, Mrs. Pheroza Godrej & Mr. Navroze Godrej (Trustees of JNG Family Trust), Mr. Jamshyd Godrej, Mrs. Pheroza Godrej & Mr. Navroze Godrej (Trustees of PJG Family Trust), Mr. Jamshyd Godrej, Mrs. Pheroza Godrej & Mr. Navroze Godrej (Trustees of NJG Family Trust), Mr. Jamshyd Godrej, Mrs. Pheroza Godrej & Mr. Navroze Godrej (Trustees of RJG Family Trust), Mrs. Smita Godrej Crishna, Ms. Freyan Crishna Bieri, Ms. Nyrika Holkar (Trustees of FVC Family Trust), Mrs. Smita Godrej Crishna, Ms. Freyan Crishna Bieri, Ms. Nyrika Holkar (Trustees of NVC Family Trust), Mrs. Smita Godrej Crishna, Ms. Freyan Crishna Bieri & Ms. Nyrika Holkar (Trustees of NVC Children Trust), Mrs. Smita Godrej Crishna, Mr. Vijay Mohan Crishna, Ms. Freyan Crishna Bieri & Ms. Nyrika Holkar (Trustees of SGC Family Trust), Mrs. Smita Godrej Crishna, Mr. Vijay Mohan Crishna, Ms. Freyan Crishna Bieri & Ms. Nyrika Holkar (Trustees of VMC Family Trust), Mrs. Smita Godrej Crishna, Ms. Freyan Crishna Bieri & Ms. Nyrika Holkar (Trustees of FVC Children Trust), Mr. Rishad Kaikhushru Naoroji & Others (Partners of RKN Enterprises), Godrej And Boyce Manufacturing Company Limited, Godrej Infotech Limited, Godrej Infotech Americas Inc., Godrej Infotech (Singapore) Pte. Ltd., LVD Godrej Infotech N.V, Godrej (Singapore) Pte. Ltd., JT Dragon Pte. Ltd., Godrej UEP (Singapore) Pte. Ltd., Godrej (Vietnam) Co. Ltd., Godrej UEP Private Limited, Veromatic International B. V., Godrej Americas Inc., Sheetak Inc., Godrej Koerber Supply Chain Limited, Urban Electric Power Inc., Godrej & Khimji (Middle East) LLC, Future Factory LLP, Godrej Holdings Private Limited, Parakh Agencies Private Limited, Godrej Enterprises Private Limited, Shakti Sustainable Energy Foundation, JNG Enterprise LLP, SVC Enterprise LLP from “Promoter” category to the “Public” category shareholder of the Company.

Note 38.1

Basic EPS amounts are calculated by dividing the profit for the year attributable to equity holders of the Company by the weighted average number of Equity shares outstanding during the year.

Diluted EPS amounts are calculated by dividing the profit attributable to equity holders of the Company by the weighted average number of Equity shares outstanding during the year plus the weighted average number of Equity shares that would be issued on conversion of all the dilutive potential Equity shares into Equity shares.

Note 39 : Employee benefits

The Company contributes to the following post-employment plans in India.

Defined Contribution Plans:

The Company’s contributions paid/payable to Regional Provident Fund at certain locations, Superannuation Fund, Employees State Insurance Scheme, Employees Pension Schemes, 1995 and other funds, are determined under the relevant approved schemes and/or statutes and are recognised as expense in the Standalone Statement of Profit and Loss during the year in which the employee renders the related service. There are no further obligations other than the contributions payable to the approved trusts/appropriate authorities.

The Company recognised ' 14.52 crore for the year ended March 31,2025 (Previous Year ' 12.41 crore) towards provident fund contribution (including interest shortfall), ' 0.18 crore for the year ended March 31,2025 (Previous Year ' 0.28 crore) towards employees’ state insurance contribution, ' 0.80 crore for the year ended March 31,2025 (Previous Year '0.54 crore) towards National Pension Scheme and ' 0.39 crore for the year ended March 31,2025 (Previous Year '0.40 crore) towards superannuation fund contribution in the Standalone Statement of Profit and Loss.

Defined Benefit Plan:

I. Provident Fund

The Company manages the Provident Fund plan through a Provident Fund Trust for its employees which is permitted under The Employees’ Provident Fund and Miscellaneous Provisions Act, 1952 and is actuarially valued. The plan envisages contribution by the employer and employees and guarantees interest at the rate notified by the Provident Fund authority. The contribution by employer and employee, together with interest, are payable at the time of separation from service or retirement, whichever is earlier.

The Company has an obligation to fund any shortfall on the yield of the trust’s investments over the administered interest rates on an annual basis. These administered rates are determined annually predominantly considering the social rather than economic factors and the actual return earned by the Company has been higher in the past years. The actuary has provided a valuation for provident fund liabilities on the basis of guidance issued by Actuarial Society of India and based on the below provided assumptions there is shortfall of ' 3.83 core as at March 31,2025 (Previous Year ' 1.06 crore). Accordingly, ' 2.77 crore (Previous Year ' 1.06 crore) has been recognised as expense for the financial year 2024-25 in the Statement of Profit and Loss under employee benefit expenses.

II. Gratuity

In accordance with the provisions of the Payment of Gratuity Act, 1972, the Company has a defined benefit plan which provides for gratuity payments. The plan provides a lump sum gratuity payment to eligible employees at retirement or termination of their employment. The amounts are based on the respective employee’s last drawn salary and the years of employment with the Company.

Liabilities in respect of the gratuity plan are determined by an actuarial valuation, based upon which the Company makes annual contributions to the Group Gratuity cum Life Assurance Schemes administered by the ICICI Prudential Life insurance, a funded defined benefit plan for qualifying employees. The Company has a Gratuity Trust and the Trustees administer the contributions made by the Company to the gratuity scheme.

The most recent actuarial valuation of the defined benefit obligation along with the fair valuation of the plan assets in relation to the gratuity scheme was carried out as at March 31,2025. The present value of the defined benefit obligations and the related current service cost and past service cost, were measured using the Projected Unit Credit Method.

Based on the actuarial valuation obtained in this respect, the following table sets out the details of the employee benefit obligation and the plan assets as at balance sheet date:

Other long-term employee benefits:

Compensated absences are payable to employees at the rate of daily basic salary for each day of accumulated leave on death or on resignation or upon retirement. The charge towards compensated absences for the year ended March 31, 2025 based on actuarial valuation using the projected accrued benefit method is ' 2.01 crore (previous year ' 2.04 crore).

Termination Benefits: All termination benefits including voluntary retirement compensation are fully written off to the Statement of Profit and Loss.

Incentive Plans: The Company has a scheme of Incentives to employees which is fully expensed in the Statement of Profit and Loss in the respective periods. The Scheme rewards its employees based on the achievement of key performance indicators and profitability, as prescribed in the scheme.

Description of share-based payment arrangements Employee stock grant scheme - equity settled

The Company had set up the Employees Stock Grant Scheme 2018 (ESGS) pursuant to the approval by the Shareholders by way of postal ballot, the result of which was declared on June 20, 2018.

The ESGS Scheme is effective from April 1,2018, (the “Effective Date”) and shall continue to be in force until (i) its termination by the Board or (ii) the date on which all of the shares to be vested under Employee Stock Grant Scheme 2018 have been vested in the Eligible Employees and all restrictions on such Stock Grants awarded under the terms of ESGS Scheme, if any, have lapsed, whichever is earlier.

The Scheme applies to the Eligible Employees who are in whole time employment of the Company or its Subsidiary Companies. The entitlement of each employee would be decided by the Nomination and Remuneration Committee of the respective Company based on the employee’s performance, level, grade, etc.

The total number of Stock Grants to be awarded under the ESGS Scheme are restricted to 25,00,000 (Twenty five Lakhs) fully paid up equity shares of the Company. Not more than 5,00,000 (Five Lac) fully paid up equity shares or 1% of the issued equity share capital at the time of awarding the Stock Grant, whichever is lower, can be awarded to any one employee in any one year.

The Stock Grants shall vest in the Eligible Employees pursuant to the ESGS Scheme in the proportion of 1/3rd at the end of each year from the date on which the Stock Grants are awarded for a period of three consecutive years, or as may be determined by the Nomination and Remuneration Committee, subject to the condition that the Eligible Employee continues to be in employment of the Company or the Subsidiary company as the case may be.

The Eligible Employee shall exercise her / his right to acquire the shares vested in her / him all at one time within 1 month from the date on which the shares vested in her / him or such other period as may be determined by the Nomination and Remuneration Committee.

The Exercise Price of the shares has been fixed at ' 10 per share. The fair value of the employee share options has been measured using the Black-Scholes Option Pricing Model and charged to the Statement of Profit and Loss. The value of the options is treated as a part of employee compensation in the Standalone financial statements and is amortised over the vesting period. The Company has provided ' 2.16 crore (Previous Year ' 2.92 crore) for all the eligible employees for current year.

i. Risk management framework

The Company’s Board of Directors has overall responsibility for the establishment and oversight of the Company’s risk management framework. The board of directors has established the Risk Management Committee, which is responsible for developing and monitoring the Company’s risk management policies. The committee reports regularly to the board of directors on its activities.

The Company’s risk management policies are established to identify and analyse the risks faced by the Company, to set appropriate risk limits and controls and to monitor risks and adherence to limits. Risk management policies and systems are reviewed regularly to reflect changes in market conditions and the Company’s activities. The Company, through its training and management standards and procedures, aims to maintain a disciplined and constructive control environment in which all employees understand their roles and obligations.

The audit committee oversees how management monitors compliance with the company’s risk management policies and procedures, and reviews the adequacy of the risk management framework in relation to the risks faced by the Company. The audit committee is assisted in its oversight role by internal audit. Internal audit undertakes both regular and ad hoc reviews of risk management controls and procedures, the results of which are reported to the audit committee.

Note 41.2: Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations, and arises principally from the Company’s receivables from customers and loans and advances.

The carrying amount of following financial assets represents the maximum credit exposure:

Trade receivables and loans and advances.

The Company’s exposure to credit risk is influenced mainly by the individual characteristics of each customer and the geography in which it operates. Credit risk is managed through credit approvals, establishing credit limits and continuously monitoring the creditworthiness of customers to which the Company grants credit terms in the normal course of business.

The Risk Management Committee has established a credit policy under which each new customer is analysed individually for creditworthiness before the Company’s standard payment and delivery terms and conditions are offered. Further for domestic sales, the company segments the customers into Distributors and Others for credit monitoring.

The Company maintains security deposits for sales made to its distributors. For other trade receivables, the company individually monitors the sanctioned credit limits as against the outstanding balances. Accordingly, the Company makes specific provisions against such trade receivables and other financial assets wherever required and monitors the same at periodic intervals. The Company also establishes an allowance for impairment that represents its estimate of expected losses in respect of trade receivables and other financial assets.

Cash and cash equivalents

The Company held cash and cash equivalents and other Bank balances of ' 23.09 crore at March 31,2025 (Previous Year ' 37.67 crore). The cash and cash equivalents and other bank balances are held with bank and financial institution counterparties with good credit rating.

Note 41.3: Liquidity risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The Company’s approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company’s reputation. The company has access to funds from debt markets through loans from banks, commercial papers and other debt instruments.

Exposure to liquidity risk

The following are the remaining contractual maturities of financial liabilities at the reporting date.

The gross inflows/(outflows) disclosed in the above table represent the contractual undiscounted cash flows relating to derivative financial liabilities held for risk management purposes and which are not usually closed out before contractual maturity. The disclosure shows net cash low amounts for derivatives that are net cash-settled and gross cash inflow and outflow amounts for derivatives that have simultaneous gross cash settlement.

The Company has sufficient current assets to manage the liquidity risk, if any, in relation to current financial liabilities.

Note 41.4 : Currency Risk

Market risk

Market risk is the risk that changes in market prices - such as foreign exchange rates, interest rates and equity prices - will affect the Company’s income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimizing the return.

Our Board of Directors and its Audit Committee are responsible for overseeing our risk assessment and management policies. Our major market risks of foreign exchange, interest rate and counter-party risk are managed centrally by our Company treasury department, which evaluates and exercises independent control over the entire process of market risk management.

Interest rate risk is covered by entering into fixed-rate instruments to ensure variability in cash flows attributable to interest rate risk is minimised. Currency risk

The functional currency of Company is primarily the local currency in which it operates. The currencies in which these transactions are primarily denominated are INR. The Company is exposed to currency risk in respect of transactions in foreign currency. Foreign currency revenues and expenses are in the nature of export sales and import of purchases / services.

Note 41.5: Interest rate risk

Interest rate risk can be either fair value interest rate risk or cash flow interest rate risk. Fair value interest rate risk is the risk of changes in fair values of fixed interest bearing financial assets or borrowings because of fluctuations in the interest rates, if such assets/borrowings are measured at fair value through profit or loss. Cash flow interest rate risk is the risk that the future cash flows of floating interest bearing borrowings will fluctuate because of fluctuations in the interest rates.

The risk estimates provided assume a change of 100 basis points interest rate for the interest rate benchmark as applicable to the borrowings, loans and advances summarized above. This calculation also assumes that the change occurs at the balance sheet date and has been calculated based on risk exposures outstanding as at that date. The year end balances are not necessarily representative of the average debt outstanding during the year.

The company offsets tax assets and liabilities, if and only if, it has a legally enforceable right to set off current tax assets and current tax liabilities and the deferred tax assets and deferred tax liabilities related to income taxes levied by the same tax authority.

Significant management judgement is required in determining provision for income tax, deferred income tax assets and liabilities and recoverability of deferred income tax assets. The recoverability of deferred income tax assets is based on estimates of taxable income by each jurisdiction in which the relevant entity operates and the period over which deferred income tax assets will be recovered.

Given that the Company does not have any intention to dispose investments in subsidiaries and certain joint ventures in the foreseeable future, deferred tax asset/liabilities related to such investments has not been recognised.

Note 44 : Capital Management

The Company’s policy is to maintain a strong capital base so as to maintain investor, creditor and market confidence and to sustain future development of the business. Management monitors the return on capital as well as the level of dividends to ordinary shareholders.

The board of directors seeks to maintain a balance between the higher returns that might be possible with higher levels of borrowings and the advantages and security afforded by a sound capital position. The primary objective of the Company’s Capital Management is to maximise shareholder value. The Company manages its capital structure and makes adjustments in the light of changes in the economic environment and the requirements of the financial covenants, if any.

The Company monitors capital using a ratio of ‘adjusted net debt’ to ‘equity’. For this purpose, adjusted net debt is defined as total borrowings, comprising interest-bearing loans and borrowings (excluding lease liability) less cash and cash equivalents. Equity comprises all components of equity.

Note 45.1 : Contingent liabilities represents estimates made mainly for probable claims arising out of litigation/ disputes pending with authorities under various statutes (Excise duty, Customs duty, Income tax).The probability and timing of outflow with regard to these matters depend on the final outcome of litigations/ disputes. Hence, the Company is not able to reasonably ascertain the timing of the outflow.

Note 45.2 : The Hon’ble Supreme Court of India (“SC”) by their order dated February 28, 2019, in the case of Surya Roshani Limited & others v/s EPFO, set out the principles based on which allowances paid to the employees should be identified for inclusion in basic wages for the purposes of computation of Provident Fund contribution. The company has started complying with this prospectively from the month of March 2019. In respect of the past period there are significant implementation and interpretative challenges that the management is facing and is awaiting for clarity to emerge in this regard, pending which, this matter has been disclosed under the Contingent liability section in the Standalone financial statements. The impact of the same is not ascertainable.

' 0.21 crores remained unutilised for the financial year 2024-25 which has been subsequently deposited in Unspent CSR Account.

Note 48 : As per Ind AS-108 ‘Operating Segments’, if a financial report contains both the consolidated financial statements of a parent that is within the scope of Ind AS-108 as well as the parent’s separate financial statements, segment information is required only in the consolidated financial statements. Accordingly, information required to be presented under Ind AS-108 Operating Segments has been given in the consolidated financial statements.

Note 49 :

(a) The Company has acquired a 49% stake in Godrej Foods Limited (GFL) (formerly known as Godrej Tyson Foods Limited) from the existing shareholders for ' 323.16 crore during the year ended 31 March 2025. Consequently, GFL has become the wholly owned subsidiary of Godrej Agrovet Limited w.e.f. August 27, 2024.

(b) The Company has approved the purchase / acquisition of remaining 48.06% equity stake for ' 930 crore in Creamline Dairy Products Limited (CDPL), making CDPL a wholly owned subsidiary of the Company upon completion of said acquisition.

The Company has entered into share purchase agreement with the Promoter Group of Creamline Dairy Products Limited for purchase / acquisition of 47.38% in CDPL. Pursuant to the same, till March 31, 2025, the Company has acquired an additional 10.62% equity stake for ' 204.50 crore in Creamline Dairy Products Limited. The indicative time period for completion of the acquisition on or before September 30, 2025.

Note 50:

(a) No funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the Company to or in any other person(s) or entity(ies), including foreign entities (“Intermediaries”) with the understanding, whether recorded in writing or otherwise, that the Intermediary shall lend or invest in party identified by or on behalf of the Company (Ultimate Beneficiaries).

(b) The Company has not received any fund from any party(s) (Funding Party) with the understanding that the Company shall whether, directly or indirectly lend or invest in other persons or entities identified by or on behalf of the Company (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

Note 51 : Events occurring after the reporting period -

Refer Note 44 (b) (ii) Capital Management for the final dividend recommended by the directors which is subject to the approval of shareholders in the ensuing annual general meeting.

Note 52 : The amount reflected as “0.00” in Financials are values with less than ' one lakh.

Note 53 : Borrowings on the basis of Security of Current Assets

For the financial year 2024-25, the Company does not have any borrowings from banks or financial institutions secured by current assets, hence, this disclosure is not applicable.

For the financial year 2023-24, the Company had borrowings from banks and financial institutions on the basis of security of current assets and the quarterly returns or statements of current assets filed by the company with banks and financial institutions were in agreement with the books of accounts.