1.  BACKGROUND
 
 Godrej Consumer Products Limited (the Company) was incorporated on
 November 29, 2000, to take over as a going concern the consumer
 products business of Godrej Soaps Limited (subsequently renamed as
 Godrej Industries Limited), pursuant to a scheme of arrangement as
 approved by the High Court, Mumbai. The Company is a focused fast
 moving consumer goods company, manufacturing and marketing toilet
 soaps, hair colour, household insecticides, liquid detergents,
 toiletries and others.
 
 2.  SCHEME OF AMALGAMATION
 
 a) A Scheme of Amalgamation (the Scheme), for the amalgamation of
 Godrej Household Products Ltd. (GHPL) (a wholly owned subsidiary of
 Godrej Consumer Products Ltd. (GCPL) called the Transferor Company
 with Godrej Consumer Products Limited (the Transferee Company) with
 effect from April 1, 2010, (the Appointed Date), was sanctioned by
 the Honble High Court of Judicature at Bombay (the Court), vide its
 Order dated February 28, 2011 and certifed copies of the Order of the
 Court sanctioning the Scheme were fled with the Registrar of Companies,
 Maharashtra on March 31, 2011 (the Effective Date). Accordingly, the
 standalone results of the Company for the year ended March 31, 2011,
 include the results of the erstwhile GHPL for the financial year ended
 March 31, 2011.
 
 b) The amalgamation has been accounted for under the pooling of
 interests method as prescribed by Accounting Standard AS 14 -
 Accounting for Amalgamations and the specifc provisions of the Scheme.
 Accordingly, the Scheme has been given effect to in these accounts and
 all assets and liabilities of the Transferor Company stands transferred
 to and vested in the Transferee Company with effect from the Appointed
 Date. In accordance with the Scheme of Amalgamation, the assets and
 liabilities of GHPL have been taken over and recorded at their fair
 values as on April 1, 2010, as determined by the Board of Directors of
 GCPL.
 
 d) In arriving at the fair value of the net assets of GHPL taken over
 by the Company: i) Loans and Advances have been reduced by Rs. 3776.83
 lac on account of:
 
 a) Restatement of loans given by the erstwhile GHPL to the GHPL ESOP
 Trust for acquiring shares of Godrej Industries Limited (GIL) granted
 under an ESOP Scheme to the employees of GHPL.  The loans have been
 restated at the market value of the underlying GIL shares as on April
 1, 2010, resulting in a reduction of Loans and Advances by Rs. 2955.14
 lac and
 
 b) Reduction in the excise duty refund receivable by GHPL by Rs. 821.69
 lac on account of uncertainty of recoverability.
 
 ii) Trademarks have increased by Rs. 105500.00 lac on account of fair
 valuation of the Goodknight and Hit brands of the erstwhile GHPL as on
 April 1, 2010. Amortisation of these brands for the year amounting to Rs.
 5275.00 lac has been charged directly to General Reserves as per the
 Scheme.
 
 e) Costs and expenses of amalgamation amounting to Rs. 614.42 lac have
 been directly debited to General Reserves.
 
 g) At the end of each financial year an amount equivalent to Rs. 5275.00
 lac being the amortization of brands (recorded pursuant to the
 amalgamation), is to be directly debited to General Reserves.
 
 h) Since the entire issued, subscribed and paid-up share capital of
 GHPL was held by the Company, upon the Scheme of Amalgamation becoming
 effective, no shares of the Company have been allotted in lieu or
 exchange of its holding in GHPL and the share capital of GHPL stands
 cancelled.
 
 i) Had the Scheme not prescribed the above accounting treatment, the
 balance in Goodwill would have been higher by Rs. 105500.00 lac
 Trademarks would have been lower by Rs. 105500.00 lac, expenses and
 provisions would have been higher by Rs. 4391.25 lac Depreciation would
 have been higher by Rs. 5275.00 lac General Reserve would have been
 higher by Rs. 9666.25 lac and proft for the year would have been lower by
 Rs. 9666.25 lac.
 
 j) Since the aforesaid Scheme of amalgamation of GHPL with the Company,
 which is effective from April 1, 2010, has been given effect to in
 these accounts, the fgures for the current year to that extent are not
 comparable with those of the previous year.
 
 k) Fair valuation of Trademarks - Goodknight & HIT, ESOP Loan and
 Excise Receivable has been done to refect the true and fair value of
 these assets. Since the amortisation of trademark is on account of fair
 valuation, hence it has been charged to General Reserve. Since the
 amalgamation expenses are not incurred in the normal course of business
 and incurred only on account of amalgamation, hence charged to General
 Reserve.
 
 3.  CONTINGENT LIABILITIES
 
                                         Current Year   Previous Year 
                                          Rs. Lac        Rs. Lac
 
 a) Claims for excise duties, taxes and 
 other matters:
 
 i) Excise duty demands aggregating Rs. 184.56 lac 
 (previous year Rs. 93.08 lac) against which 
 the Company has preferred appeals 
 (net of tax).                              123.26         61.44
 
 ii) Excise duty claims in respect of non-payment of education cess for
 the period January 2005 to March 2008 at 
 the Guwahati Factory amounting
 to Rs. 118.26 lac (previous year 
 Rs. 118.26 lac) (net of tax).               78.98         78.07
 
 iii) Special Value Addition Rate application 
 for excise purpose at Guwahati
 claimed at a rate higher than the normal rate as per new notifcation is
 yet to be granted. The excess special value addition claimed over and
 above the normal rate amounting to Rs. Nil (previous year Rs. 830.86 lac)
 has been accounted as recoverable and the same is contingent on the
 higher rate being granted (net of tax).      -            548.45
 
 iv) Sales tax demands aggregating Rs. 2079.93 lac (previous year Rs. 168.59
 lac) against which the Company has preferred appeals (net of tax).  
                                            1389.03        111.29
 
 v) Income-tax matters:
 
 Demand notices issued by Income-tax 
 Authorities.                                837.43       2162.96
 
 vi) Other matters - Rs. 300.05 lac (previous 
 year Rs. 6.62 lac) (net of tax).            200.38          4.37
 
 b) Guarantees issued by banks (secured by 
 bank deposits under lien with the
 bank Rs. 106.95 lac (previous year – 
 Rs. 106.95 lac).                            865.02        262.74
 
 c) Guarantees amounting to $ 95 million given 
 by the Company towards loans provided by 
 HSBC, to Godrej Consumer Products Mauritius 
 Ltd.                                      43021.13           -
 
 d) Guarantee amounting to $ 365 million 
 given by the Company towards loan
 provided by Banks to Godrej Consumer 
 Products Holding (Mauritius) Ltd.        164159.57           -
 
 e) Guarantee of AED 1.4 million (previous year AED 1.4 million) given
 by the Company to guarantee principal amount of credit facilities
 extended by HSBC Bank Middle East Ltd. to Godrej Global Mideast FZE – a
 wholly owned subsidiary of the Company.     172.59        171.69
 
 f) Guarantee given by the Company to guarantee principal amount of
 credit facilities extended by the Royal Bank of Scotland to Godrej
 Hygiene Products Limited – a wholly owned subsidiary 
 of the Company.                             500.00        300.00
 
 g) Guarantees of GBP Nil (previous year GBP 3 million) given by the
 Company for securing loan availed by Godrej Netherlands B.V., a wholly
 owned subsidiary of the Company.               -         2036.05
 
 h) Guarantee given by the Company to guarantee principal amount of
 credit facilities extended by Citibank Sri Lanka and Citibank
 Bangladesh to Godrej Household Products (Lanka) Private Limited and
 Godrej Household Products (Bangladesh) Private Limited respectively -
 wholly owned subsidiaries of the Company.     756.36         -
 
 i) Claims against the Company not acknowledged as debt:
 
 Claims by various parties on account of unauthorised, illegal and
 fraudulent acts by an employee.              2424.19      2424.19
 
 Claims pertaining to litigations fled against the erstwhile Godrej
 Household Products Limited.                    25.02         -
 
 5.  CAPITAL COMMITMENTS
 
 Estimated value of contracts remaining to be executed on capital
 account to the extent not provided for – Rs. 725.47 lac (previous year Rs.
 42.57 lac), net of advances amounting to Rs. 670.61 lac (previous year Rs.
 28.52 lac).
 
 6.  SHARE CAPITAL
 
 During the year, the Company issued 15,400,100 equity shares of face
 value Rs. 1 each at a premium of Rs. 344 per equity share to Qualifed
 Institutional Buyers. The pricing was equal to the foor price of Rs. 345
 per equity share calculated in accordance with SEBI guidelines. The
 issue proceeds aggregating to Rs. 53130.35 lac has been utilized to
 retire debt and for general corporate purpose.
 
 7.  SECURED LOANS
 
 a) The Sales Tax Deferment Loan is secured by: i) Malanpur location:
 
 (a) a frst charge by way of equitable mortgage of the immovable
 properties at Malanpur factory, and
 
 (b) hypothecation of movable assets at Malanpur factory, save and
 except, book debts and subject to charges already created by the
 Company in favour of the banks for working capital facilities.
 
 ii) Baddi Location:
 
 Bank guarantee in favour of the sales tax authorities.
 
 b) Bank cash credit, working capital demand loans and guarantees issued
 by banks are secured by hypothecation of stocks and book debts.
 
 8.  UNSECURED LOANS
 
 a) During the year, the Company had issued 11000 and redeemed 9000 zero
 coupon, unsecured, redeemable, non-convertible debentures on private
 placement basis. The debentures were redeemed at a premium of Rs. 2013.00
 lac at maturity.
 
 b) Unsecured Loans include 2,000 zero coupon, unsecured, redeemable,
 non-convertible debentures having a face value of Rs. 10 lac each,
 aggregating to Rs. 20000.00 lac, issued on a Private Placement basis,
 redeemable in two tranches at a premium, which will yield 10.50% p.a.
 at maturity. Debentures amounting to Rs. 4500.00 lac are redeemable in
 December 2011 and the balance, amounting to Rs. 15500.00 lac are
 redeemable in January 2012.
 
 9.  INVESTMENTS
 
 a) During the year the Company completed the acquisition of PT Megasari
 Makmur Group in Indonesia with effect from May 17, 2010 and also
 incorporated Godrej Indonesia Netherlands Holding BV, Netherlands with
 effect from May 7, 2010 under Godrej Consumer Products Dutch
 Cooperatief U.A., Netherlands.
 
 b) During the year, the Company completed the acquisition of the
 balance 51% stake in Godrej Sara Lee Ltd.  (subsequently renamed as
 Godrej Household Products Ltd.). Consequently Godrej Household Products
 Ltd. became a wholly owned subsidiary of Godrej Consumer Products
 Limited (GCPL) with effect from May 28, 2010. Subsequently, pursuant to
 a Scheme of Amalgamation sanctioned by the Honble High Court of
 Judicature at Bombay, Godrej Household Products Ltd. was amalgamated
 with Godrej Consumer Products Ltd. on March 31, 2011 (the Effective
 Date) with effect from April 1, 2010, (the Appointed Date).
 
 Godrej Household Products (Lanka) Private Limited and Godrej Household
 Products (Bangladesh) Private Limited, subsidiaries of the erstwhile
 Godrej Household Products Ltd., have consequently become subsidiaries
 of GCPL.
 
 c) During the year the Company acquired 100% stake in Laboratoria
 Cuenca, Consell SA, Issue Uruguay and Issue Brazil (collectively
 referred to as ‘Issue Group) with effect from June 1, 2010 and
 acquired a 100% stake in Argencos, a mid-sized Argentine hair care
 company & Panamar Produccioness Srl with effect from July
 
 8, 2010 through its newly incorporated subsidiaries Godrej Netherlands
 Argentina Holding B.V., Netherlands and Godrej Netherlands Argentina
 B.V., Netherlands which were incorporated under Godrej Argentina Dutch
 Cooperatief UA, Netherlands.
 
 d) The Company completed the acquisition of the worldwide rights of
 Tura from the Tura Group, Nigeria with effect from June 16, 2010.
 
 e) During the year, the Company acquired a 100% stake in Naturesse
 Consumer Care Products Limited (NCCPL) and Essence Consumer Care
 Products Limited (ECCPL) which own the Swastik and Genteel brand
 respectively. The Board of Directors of the Company has approved a
 Scheme of Amalgamation of these Companies with GCPL subject to the
 consent of the Honble High Court of Judicature at Bombay and such
 other necessary approvals and consents. The Appointed Date for the
 amalgamation is December 3, 2010.  NCCPL and ECCPL have fled separate
 petitions with the Honble High Court of Judicature at Bombay for
 sanction of the said Scheme. The approval of the Honble High Court is
 awaited.
 
 As the Appointed Date for the said Scheme is December 3, 2010, on
 receipt of the approval of the Honble High Court and fling of the same
 with the Registrar of Companies, the financial statements of GCPL for
 the year ended March 31, 2011, would be impacted. Fixed Assets (net of
 depreciation) will increase by Rs. 15.00 lac representing the book value
 of Swastik and Genteel brands, the Net Current Assets will increase
 by Rs. 172.00 lac. The General Reserve will reduce by Rs. 3766.00 lac being
 the difference between book value of assets and liabilities taken over
 after giving effect to the adjustments proposed in the said scheme of
 Amalgamation.
 
 f) During the year the Company incorporated Godrej Mauritius Africa
 Holdings Limited (w.e.f. March 14, 2011) as its 100% subsidiary which
 in turn acquired Godrej Weave Holdings Limited on March 14, 2011, as
 its 100% subsidiary.
 
 b) The Company has granted a loan amounting to Rs. 5223.56 lac (previous
 year Rs. 4430.84 lac) (being the maximum amount of loan outstanding
 during the year) to The Godrej Consumer Products Limited ESOP Trust,
 set up for administering the Employee Stock Option Plan of the Company
 for the employees/ directors of the Company and/or of the Companys
 subsidiaries. Out of the above loans, loans aggregating Rs. 2923.56 lac
 for ESOP is repayable at the end of fve years from the date of the loan
 agreement viz.  fve years
 
 from March 21, 2008. The repayment of the loan by the Trust is
 dependant on the exercise of options by the employees and/or the market
 price of the underlying equity shares of the unexercised options at the
 end of the exercise period.
 
 In respect of the balance loans amounting to Rs. 2300.00 lac which have
 been granted for for the Employee Stcok Purchase Plan (GCPL ESPL), the
 repayment will commence from the date on which the employee exercises
 the stock grant or after 2 years from the date of vesting whichever is
 earlier. In the event the price of the underlying GCPL shares fall
 below the exercise price during/on conclusion of the exercise period,
 the employee shall compulsorily exercise the shares at cost plus
 interest.
 
 Under the Scheme of Amalgamation, the Company has obtained a new
 employees stock option scheme viz.  ‘Godrej Sara Lee Limited stock
 option plan to eligible employees of the merged Company. on the terms
 and conditions as specifed in the scheme. The equity shares of ‘Godrej
 Industries Limited are the underlying equity shares for the stock
 option scheme. In order to execute the Scheme, an independent trust has
 been created with ILFS Trust Company Limited and the erstwhile GHPL has
 given an interest bearing loan which together with interest amount to Rs.
 5940.00 lac to the trust to execute the scheme. Based on Market
 conditions the same has been fair valued at Rs. 2984.86 lac shown under
 the head loans and advances. The impaired amount of Rs. 2955.14 lac has
 been adjusted to general reserve.
 
 12.  RIGHTS ISSUE PROCEEDS
 
 Out of the funds raised from the rights issue in 2008-09 amounting to Rs.
 39645.75 lac, the Company has, as of March 31, 2011, utilised the
 entire proceeds towards the objects mentioned in the Rights Offer
 letter (as amended till date).
 
 13.  LIABILITIES
 
 a) There are no Micro, Small and Medium Enterprises, to whom the
 Company owes dues, which are outstanding for more than 45 days as at
 the balance sheet date. The above information regarding Micro, Small
 and Medium Enterprises has been determined to the extent such parties
 have been identifed on the basis of information available with the
 Company. This has been relied upon by the auditors.
 
 c) The Company has acquired assets under non cancellable operating
 leases arising out of Scheme of Amalgamation of the Company with
 erstwhile Godrej Household Products Limited. The liability for minimum
 lease payment is secured by hypothecation of the assets acquired under
 the lease. The future minimum lease payments outstanding as on March
 31, 2011, in respect of assets leased are as under:
 
 d) The Companys signifcant leasing agreements are in respect of
 operating lease for premises (offce godown) Computers and the aggregate
 lease rentals payable, are charged as rent.
 
 e) Sundry Creditors / Provision for Liabilities – Raw materials include
 overseas supplier credit amounting to Rs. 7743.49 lac (previous year Rs.
 8231.47 lac).
 
 14.  HEDGING CONTRACTS
 
 The Company uses forward exchange contracts to hedge its foreign
 exchange exposure relating to the underlying transactions and frm
 commitment in accordance with its forex policy as determined by a Forex
 Committee.  The Company does not use foreign exchange forward contracts
 or commodity futures contracts for trading or speculation purpose. As
 at March 31, 2011, the Company had 6 (previous year 15) outstanding
 forward exchange contracts to purchase foreign currency aggregating, to
 US Dollars 66.10 lac (previous year US Dollars 112.12 lac) at an
 average rate of Rs. 45.91 per US Dollar (previous year Rs. 46.44 per US
 Dollar). Pursuant to the Scheme of Amalgamation the Company has
 obtained 3 outstanding forward exchange contracts to sell foreign
 currency aggregating to US Dollar 0.5 lac at an average rate of Rs. 45.28
 per US Dollar and EURO 9.25 lac at an average rate of Rs. 63.84 per EURO.
 The uncovered foreign exchange exposure as at March 31, 2011, is as
 under:
 
 15. PROFIT AND LOSS ACCOUNT
 
 a) Exchange differences (net) recognised in the Proft and Loss Account
 for the year amounted to a gain of Rs. 118.05 lac (previous year Rs. 102.53
 lac). The premium in respect of forward exchange contracts to be
 recognised in subsequent accounting periods is Rs. 35.16 lac (previous
 year Rs. 38.26 lac).
 
 b) Research and Development Expenditure of revenue nature charged to
 the Proft and Loss Account amounts to Rs. 793.96 lac (previous year Rs.
 474.76 lac).
 
 c) Establishment expenses represent the Companys share of various
 expenses incurred by Godrej Industries Ltd. and other companies under
 the same management for sharing of services and use of common
 facilities.
 
 16.  EXCEPTIONAL ITEMS
 
 a) Pursuant to Ambipur Manufacturing and Distribution License
 Termination and Amendment Agreement dated May 28, 2010, entered into
 between Kiwi European Holdings B.V., Saralee Household & Body Care
 International B.V. and Godrej Household Products Limited (formerly
 known as Godrej Sara Lee Limited), the erstwhile Godrej Household
 Products Ltd. received termination compensation of Euro 7,000,000
 (equivalent to Rs. 4030.99 lac) disclosed as an Exceptional Item in the
 Proft and Loss Account.
 
 b) Pursuant to the ‘Kiwi Manufacturing and Distribution License
 (excluding Sri Lanka) – Confrmation and Amendment Agreement dated May
 28, 2010, entered into between Kiwi European Holdings B.V., Saralee
 Household & Body Care International B.V. and Godrej Household Products
 Limited (formerly known as Godrej Sara Lee Limited), and further
 pursuant to the letters dated February 9, 2011 and March 24, 2011, the
 ‘Kiwi Manufacturing and Distribution License (excluding Sri Lanka)
 Agreement has been terminated effective April 3, 2011 and termination
 compensation of Rs. 15619.38 lac has been received subsequent to the year
 end.
 
 17.  EMPLOYEE STOCK OPTION PLAN
 
 a) The shareholders of the Company have approved the setting up of the
 Godrej Consumer Products Ltd.  Employee Stock Option Plan (GCPL ESOP)
 for the benefit of its eligible employees whereby the Company can grant
 45,00,000 stock options convertible into 45,00,000 equity shares of the
 nominal value Rs. 1 each to the eligible employees/Directors of the
 Company and of the Companys subsidiaries.
 
 b) The ESOP Scheme is administered by an independent ESOP trust created
 with IL&FS Trust Company Limited which acquires by
 subscription/purchase or otherwise, the Companys shares equivalent to
 the number of options proposed to be granted by the participating
 companies, as approved by the Compensation Committee.
 
 c) The ESOPS authorised for issue are as under:
 
 i) 2,000,000 options in the Extra-ordinary General Meeting on March 14,
 2007.  ii) 2,500,000 options in the Extra-ordinary General Meeting on
 April 28, 2008.
 
 d) The options granted shall vest in the eligible employees within such
 period as may be prescribed by the Compensation Committee, which period
 shall not be less than one year and may extend up to three years from
 the date of grant of the option. Vesting may occur in tranches subject
 to the terms and conditions of vesting. The option is exercisable
 within two years after vesting.
 
 e) All unvested Options shall vest in the employees on the date of
 retirement or at an earlier date as may be decided by the Compensation
 Committee, subject to the requirement of minimum vesting period and all
 vested Options should be exercised by the Option Grantee immediately on
 retirement, but in no event later than six months from the date of such
 Options Grantees retirement.
 
 f) The price at which the Option Grantee would convert Options granted
 into GCPL Shares (i.e. the exercise price) shall be the market price
 prevailing on the day prior to the day of grant plus interest at such
 rate not being less than the bank rate then prevailing compoundable on
 an annual basis for the period commencing from the date of granting of
 the Option and ending on the date of intimating exercise of the Option
 to the Company.
 
 g) The employee share based payment plans have been accounted based on
 the intrinsic value method and no compensation expense has been
 recognized since the market price of the underlying share at the grant
 date is the same/less than the exercise price of the option, the
 intrinsic value therefore is Nil.
 
 Had the fair value method of accounting been used, the employee
 compensation cost would have been higher by Rs. 1132.64 lac (previous
 year Rs. 442.75 lac).
 
 h) The Board of Directors at its meeting held on January 22, 2011 has
 approved an Employee Stock Purchase Plan (GCPL ESPL) which is
 administered by the GCPL ESOP Trust. Under the plan, the Company
 provides loan to the GCPL ESOP Trust at an interest rate which is not
 less than the bank rate, to enable the GCPL ESOP trust to acquire upto
 1,000,000 shares of the Company from the secondary market.
 
 The HR & Compensation committee had resolved that the surplus shares
 held by GCPL ESOP Trust at any point of time for grant of options under
 GCPL ESOP be utilised for grant of shares to the employees under the
 GCPL ESPL within the maximum of 10,00,000 equity shares.
 
 Under the plan, 9,80,000 shares have been granted till March 31, 2011.
 
 The shares granted shall vest on March 30, 2012. Thereafter within the
 exercise period of two years, these shares shall have to be
 compulsorily acquired from the GCPL ESOP Trust. The exercise price
 shall be the market price on the day prior to the date of grant plus
 interest at a rate not less than the bank rate till the date of
 exercise.
 
 j) Under the Scheme of Amalgamation, the Company has obtained ‘Godrej
 Sara Lee Limited Employees Stock Option Plan set up for eligible
 employees of the erstwhile Godrej Household Products Limited. The
 equity shares of Godrej Industries Limited (GIL) are the underlying
 equity shares for the stock option plan. The ESOP Scheme is
 administered by an independent ESOP trust created with IL&FS Trust
 Company Limited.  The independent ESOP trust has purchased shares of
 GIL from the market against which options have been granted. The
 purchases have been fnanced by loans from the erstwhile Godrej
 Household Products Limited which together with interest amounts to Rs.
 5940.00 lac. The repayment of the loans granted to the ESOP trust and
 the interest thereon is dependent on the exercise of the options by the
 employees and the market price of the underlying shares of the
 unexercised options at the end of the exercise period.
 
 18.  INCENTIVE PLANS
 
 The amount carried forward in notional bank after distribution of PLVR
 for the financial year 2010-11 is Rs. 667.18 lac as on March 31, 2011
 (previous year Rs. 525.00 lac). The said amount is not provided in the
 books of account and is payable in future, if performance so warrants.
 
 Note:
 
 a) The above provision has come in the books pursuant to the Scheme of
 Amalgamation with GHPL.
 
 b) The above provision represents estimates made for probable
 liabilities arising out of pending disputes / litigation with the Sales
 Tax / Service Tax Authorities. The outfow with regard to the said
 matters depends on exhaustion of remedies available to the Unit under
 the law and hence, the Unit is not able to reasonably ascertain the
 timing of the outfow.
 
 20.  EMPLOYEE BENEFITS
 
 a) DEFINED CONTRIBUTION PLAN
 
 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. The plan
 envisages contribution by the employer and employees and guarantees
 interest at the rate notifed 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 post employment benefits of the erstwhile Godrej Household Products
 Ltd., which was acquired pursuant to the Scheme of Amalgamation,
 include contributions to the Provident Fund and Superannuation Fund.
 The contributions to the Provident Fund are made to a Government
 administered Provident Fund and there are no further obligations beyond
 making such contribution. The Superannuation Fund constitutes an
 insured benefit, which is classifed as a defned contribution plan as the
 Company contributes to an Insurance Company and has no further
 obligation beyond making payment to the insurance company.
 
 b) Defned benefit Plan
 
 Gratuity:
 
 The Company participates in the Employees Group Gratuity-cum-Life
 Assurance Scheme of HDFC Standard Life Insurance Co. Ltd., a funded
 defned benefit plan for qualifying employees. Gratuity is payable to all
 eligible employees on death or on separation/termination in terms of
 the provisions of the Payment of Gratuity (Amendment) Act, 1997, or as
 per the Companys scheme whichever is more benefcial to the employees.
 
 The gratuity scheme of the erstwhile Godrej Household Products Ltd.,
 which was acquired pursuant to the Scheme of Amalgamation, is funded
 through a Unit Linked Gratuity Plus Scheme with Life Insurance
 Corporation of India (‘LIC) and HDFC Standard Life Insurance Company
 Limited. The liability for the Defned benefit Plan is provided on the
 basis of a valuation, using the Projected Unit Credit Method, as at the
 Balance Sheet date, carried out by an independent actuary.
 
 c) Basis Used to Determine Expected Rate of Return on Assets:
 
 The expected return on plan assets of 8.25% has been considered based
 on the current investment pattern in Government securities.
 
 d) Amounts Recognised as Expense:
 
 i) Defned Contribution Plan
 
 Employers Contribution to Provident Fund amounting to Rs. 533.73 lac
 (previous year Rs. 262.70 lac) has been included in Schedule 12 under
 Contribution to Provident and Other Funds.
 
 ii) Defned benefit Plan
 
 Gratuity cost amounting to Rs. 215.20 lac (previous year Rs. 195.89 lac)
 has been included in Schedule 12 under Contribution to provident and
 Other Funds. The Company had made a short provision amounting to Rs. 0.43
 lac in the current year and Rs. 4.34 lac in the previous year for which
 no adjustment entries have been passed in the books of account.
 
 35. Related Party Disclosures
 
 A) Related Parties and their Relationship
 
 a) Enterprise having control over reporting enterprise:
 
 i) Godrej & Boyce Mfg. Co. Ltd.
 
 b) Subsidiaries:
 
 i) Godrej Netherlands B.V.
 
 Godrej Consumer Products (UK) Limited Keyline Brands Limited
 
 Inecto Manufacturing Limited ii) Rapidol (Proprietary) Limited iii)
 Godrej Global Mid East FZE iv) Godrej Hygiene Products Limited v)
 Godrej Consumer Products Mauritius Limited Godrej Kinky Holdings
 Limited
 
 Kinky Group (Proprietary) Limited
 
 Godrej Nigeria Holdings Ltd.
 
 Godrej Nigeria Limited Godrej Argentina Dutch Cooperatief U.A
 
 Godrej Netherlands Argentina Holding B.V Godrej Netherlands Argentina
 B.V Laboratoria Cuenca S.A Deciral S.A
 
 Issue Group Uruguay S.A Issue Group Brazil Limited Consell S.A Argencos
 S.A Panamar Produccioness Srl vi) Godrej Consumer Products Holding
 (Mauritius) Limited Indovest Capital Limited, Labuan Godrej Consumer
 Products Dutch Cooperatief U.A.  Godrej Indonesia Netherlands Holding
 B.V Godrej Consumer Products (Netherlands) B.V.  Godrej Consumer
 Holdings (Netherlands) B.V.  PT Simba Indosnack Makmur PT Indomas
 Susemi Jaya PT Intrasari Raya PT Megasari Makmur PT Ekamas Sarijaya PT
 Sarico Indah vii) Godrej Household Products (Lanka) Private Limited
 viii) Godrej Household Products (Bangladesh) Private Limited ix) Godrej
 Consumer Products Bangladesh Limited x) Essence Consumer Care Products
 Private Limited xi) Naturesse Consumer Care Products Private Limited
 xii) Godrej Mauritius Africa Holdings Limited xiii) Godrej Weave
 Holdings Limited
 
 c) Joint Ventures:
 
 i) Godrej Household Products Ltd. (Formerly Godrej Sara Lee Limited)
 
 (Joint Venture from June 1, 2009 up to May 27, 2010. Became a
 subsidiary of the Company on May 28, 2010 and subsequently was pursuant
 to the Scheme of Amalgamation with effect from April 1, 2010)
 
 d) Enterprises under common control with whom transactions have taken
 place during the year:
 
 i) Godrej Industries Limited ii) Godrej Agrovet Limited iii) Godrej
 Hershey Limited iv) Godrej Infotech Limited v) Godrej Properties
 Limited vi) Godrej International Limited vii) Wadala Commodities Ltd.
 viii) Godrej Oil Palm Limited ix) Natures Basket Limited
 
 e) Enterprise over which Key Management Personnel exercise signifcant
 infuence:
 
 i) Godrej Investments Private Limited
 
 f) Key Management Personnel and Relatives:
 
 i) Mr. Adi Godrej             Chairman
 
 ii) Mr. Hoshedar Press        Vice-Chairman (retired w.e.f. close 
                               of April 30, 2010)
 
 iii) Mr. Dalip Sehgal         Managing Director (up to June 30, 2010)
 
 iv) Mrs. Parmeshwar Godrej    Wife of Mr. Adi Godrej
 
 v) Mr. A. Mahendran           Managing Director (w.e.f. from 
                               July 1, 2010)
 
 vi) Mrs. Mythili Mahendran    Wife of Mr. A. Mahendran
 
 vii) Mrs. Tanya Dubhash       Daughter of Mr. Adi Godrej
 
 viii) Ms. Nisaba Godrej       Daughter of Mr. Adi Godrej
 
 ix) Mr. Pirojsha Godrej       Son of Mr. Adi Godrej
 
 x) Mr. Nadir Godrej           Brother of Mr. Adi Godrej
 
 xi) Mrs. Rati Godrej          Wife of Mr. Nadir Godrej
 
 xii) Mr. Burjis Godrej        Son of Mr. Nadir Godrej
 
 xiii) Mr. Sohrab Godrej       Son of Mr. Nadir Godrej
 
 (xiv) Mr. Hormazd Godrej      Son of Mr. Nadir Godrej