^p^ T^Kur. ^^y.. i.e. 31st July, The Board meeting commenced at noon and concluded atq^l^'p.m.

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1 Ref: SEC/SE/ Date: July 31, 2018 Scrip Symbol: NSE & MSEI - DABUR, BSE Scrip Code; To, Corporate Relation Department Bombay Stock Exchange Ltd. Phiroze Jeejeebhoy Towers Dalal Street, Mumbai National Stock Exchange of India Ltd. Exchange Plaza, 5th Floor Plot No. C/l, G Block Bandra - Kurla Complex Bandra (E), Mumbai y.. k'<k?»v*<fj< p TKur India Ltd. Metropolitan Stock Exchange Limited (MSEI) 4th Floor, Vibgyor Towers, Plot No. C-62 G-Block, Opposite Trident Hotel, Bandra Kurla Complex, Bandra (E), Mumbai Sub: Unaudited Financial and Seqment-wise Results for the Quarter 30th June, 2018 and voluntary delistinq of equity shares of the Company from Metropolitan Stock Exchange of India Limited fmsei) In Compliance of Regulation 30 & 33 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, (hereinafter referred as 'Listing Regulations') we are pleased to submit the unaudited Financial and Segment wise results of the Company (Consolidated as well as Standalone), for the quarter 30th June, 2018 along with the Limited Review Report on the results (Consolidated as well as Standalone), in the prescribed format, issued by Auditors of the Company. The above results have been duly approved by the Board of Directors of the Company in its meeting held today i.e. 31st July, The Board meeting commenced at noon and concluded atql'p.m. In terms of Regulation 47 of the Listing Regulations, the extract of consolidated financial results, in the prescribed format, shall be published on 1st August, 2018 in all editions of Hindustan Times (English Edition) and Delhi-NCR editions of Hindustan (Hindi daily). The full format of the standalone and consolidated Financial Results for the quarter June 30, 2018 shall be available on the websites of the Stock Exchanges where equity shares of the Company are listed i.e. and and on the Company's website at The board has approved to voluntarily delist the equity shares of the Company from Metropolitan Stock Exchange of India Limited (MSEI). Equity shares of the Company shall continue to be listed on the National Stock Exchange of India Limited (NSE) and BSE Limited (BSE). This is for your information and records. Thanking You, Yours faithfully, For Dabur India Limited i a n) V P (France) and Company Secretary End: as above DABUR INDIA LIMITED, Punjabi Bhawan, 10, Rouse Avenue, New Delhi , Tel.: Fax: Regd. Office: 8/3, AsafAli Road, New Delhi (India) PAN: AAACD0474C, CIN: L24230DL1975PLC007908, corpcomm@dabur.com, Website:

2 Walker ChandiokScCoLLP Walker ChandiokS Co LLP (Formerly Walker, Chandiok & Co) L-41 Connaught Circus New Delhi India T F Independent Auditor's Review Report on Consolidated Quarterly Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligadons and Disclosure Requirements) Regulations, 2015 To the Board of Directors ofdabur India Limited 1. We have reviewed the accompanying statement of unaudited consolidated financial results ('Statement') of Dabur India Liniited ('the Company') and its subsidiaries (the 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 quarter 30 June 2018, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing ObKgations and Disclosure Requirements) Regulations, This Statement is the responsibility of the Company's management and has been approved by the Board of Directors. Our responsibility is to issue a report on the Statement based on our review. 2. We conducted our review in accordance with the Standard on Revie'w Engagement (SRE) 2410, Revie\v of Interim Financial Inforraadon Performed by the Independent Auditor of the Entity, issued by the Institute of of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A revie\y is limited primarily to inquiries of Company personnel and analytical procedures, applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion. 3. Based on our revie'w conducted as above and upon consideration of the review reports of the other auditor, nothing has come to our attention that causes us to believe that the accompanying Statement prepared in accordance with applicable Indian Accounting Standards specified under Section 133 of the Companies Act, 2013 and SEBI Circulars CIR/CFD/CMD/15/2015 dated 30 November 2015 and CIR/CFD/FAC/62/2016 dated 5 July 2016, and other recognised accounting practices and policies has not disclosed the information required to be disclosed in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, including the manner in which it is to be disclosed, or that it contains any material misstatement. D@ <f % 0 0 p? Offices in Bengaluru, Chandigarh Chennai, Gurgaon, Hyderabad, Kolkata, Mumbai, New Delhi, Noida and Pune 0 -s? % 'C 75 Walker Chandiok & Co LLP is registered with limited liability with identification number AAC-2085 and its registered office at L-41 Connaught Circus, New Delhi, , India

3 Walker Chandiok&CoLLP Independent Auditor's Review Report on Consolidated Quarterly Financial Results of the Conipany Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Cont'd) 4. We did not review the financial results of 23 subsidiaries included in the Statement whose financial results reflect total revenues of crores for the quarter 30 June 2018, net profit after tax (including other comprehensive income) of crores for the quarter 30 June These financial results have been reviewed by other auditor whose review reports have been furnished to us by the management and our report in respect thereof is based solely on the review reports of such other auditor. Our review report is not modified in respect of this matter. 5. The Statement also includes the Group's share of net profit (including other comprehensive income) of? 0.22 crores for the quarter 30 June 2018, as considered in the Statement, in respect of one joint venture, whose financial results have not been reviewed by us. These financial results are un-reviewed and have been furnished to us by the management and our opinion on the consolidated financial results, in so far as it relates to the aforesaid joint venture is based solely on such un-reviewed financial results. In our opinion and according to the informatiou and explanations given to us by the management, these financial results are not material to the Group. Our review report is not modified in respect of this matter. U3cnJJu<- O<L-.. r- C LLJp For Walker Chandiok & Co LLP Firm Registration No: N/N David-to'nes Partner Membership No Place: New DeUii Date: 31 July 2018 fr.mp/? <? v <? 0 p. co % '- w

4 Walker Chandiok&CoLLP Independent Auditor's Review Report on Consolidated Quarterly Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requireinents) Regulations, 2015 (Cont'd) Ajnnexure 1 List of entities included in the Statement Subsidiaries: H & B Stores Limited, Dermovia Skin Essentials INC, Dabur International Limited, NatureUe LLC, Dabur Egypt Limited, African Consumer Care Limited, Dabur Nepal Private Lunited, Asian Consumer Care Pakistan Private Lunited, Asian Consumer Care Private Limited, Hobi Kozmetik, RA Pazarlama, Dabur Lanka Private Limited, Namaste Laboratories LLC, Urban Laboratories International LLC, HaLc Rejuveaadoa & Revitalization Nigeria Limited, Healing Hair Laboratories Internadonal LLC, Dabur (UK) Limited, Dabur Consumer Care Private Limited, Dabur Tuaisie, Dabur Pakistan Private Limited, Dabur Pars, Dabur South Africa (PTY) Limited, D and A Cosmetics Proprietary Limited (w.e.f 05 April 2018) and Adanta Body and Health Products Proprietary Limited (w.e.fos April 2018). T oint venture: Forum I Aviation Private Limited. ND@ v <»- <f 0 0 a p 0 $» $: %?? $R

Dabur India Limited Statement of unaudited consolidated financial results for the quarter 30 June 2018 s- SI.No Particulars Quarter (30/06/2018) Preceding quarter Corresponding quarter (30/06/2017) (?

5 Dabur India Limited Statement of unaudited consolidated financial results for the quarter 30 June 2018 s- SI.No Particulars Quarter (30/06/2018) Preceding quarter Corresponding quarter (30/06/2017) (? in crores) Previous year 1 Income (Unaudited) (Refer Note 5) (Unaudited) (Audited) Revenue from operations (refer note 1) Other income 2, , , , Total income 2, , , , Expenses Cost of materials consumed (including excise duty) Purchases of stock in trade Changes in inventories of finished goods, stock-in-trade and work-in (56.18) , (65.93)1 progress Employee benefits expense Finance costs Depreciation and amortisation expense Other expenses Advertisement and publicity Others Total expenses 1, , , , Profit before share of profit/(loss) from joint venture and exceptional , items Share of profit/ (loss) of joint venture 0.22 (0.18) Profit before exceptional items and tax , Exceptional items Profit before tax , Tax expense Current tax Deferred tax (0.60) (46.79) 3.30 (35.99)1 Net profit for the period/year , Other comprehensive income a) Items that will not be reclassified to profit or loss (0.19) 0.84 (4.20)1 Income tax relating to items that will not be reclassified to profit or loss 0.04 (0.18) 0.15 (2.14) (0.16) b) Items that will be reclasssified to profit or loss Income tax relating to items that will be reclasssified to profit or loss (15.35) (3.29) (28.04) Total comprehensjve income for the period/year 32Z , Net profit attributable to: Owners of the holding company , Non-controlling interest Other comprehensive income attributable to: Owners of the holding company (8.56) (21.72)1 Non-controlling interest (0.20) (1.58)1 9 Paid-up equityshare capital (Face value of? 1 each) Other equity 5, Earnings per share (Face value of? 1 each) (not annualised) - Basic (?) Diluted (?) SIGNED FOR IDENTIFICATION PURPOSES io/0 < (T: VOT ff>? -0 * 5 % X

6 Dabur India Limited Unaudited consolidated segment wise revenue, results, assets and liabilities for the quarter 30 June 2018 «.* SI.No Particulars Quarter (30/06/2018) Preceding quarter Corresponding quarter (30/06/2017) fwr (? in crores) Previous year (Unaudited) (Refer Note 5) (Unaudited) (Audited) 1 Segment revenue C. Retail business D. Other segments E. Unallocated other operating revenue 1, , , , , Revenue from operations 2, , , , Segment results C. Retail business D. Other segments Sub Total Less: Finance costs Less: Unallocable expenditure net off unallocable income Profit before share of profit/floss) from joint venture and exceptional items (29.62) (1.46) , , (0.24) , Share of profit / (loss) of joint venture 0.22 (0.18) Profit before exceptional items and tax , Exceptional items Profit before tax , Less: Tax expenses Net profit for the period/year , Segment assets C. Retail business D.0ther segments E. Unallocated 3, , , , , , , , Total 9, , , , Segment liabilities 1, , , , C. Retail business D.0ther segments E. Unallocated 1, , , Total 3, , Z, , " <r ;.,,... D i- C? R IDENTiFICATION PURPOSES ftnp/ (p v»y r- 5 r-y 0 (t

7 Notes : 1 Revenue for the quarters 30 June 2018 and 31 March 2018 is net of Goods and Service Tax (GST) which is applicable from 1 July 2017, however, revenue for the quarter 30 June 2017 is net of VAT but gross of excise duty. Accordingly, revenue for the quarters 30 June 2018 and 31 March 2018 is not comparable with the previous Quarter 30 June Similarly, cost of eoods sold and expenses are also not comoarable. 2 The unaudited consolidated financial results of the Company for the quarter 30 June 2018 have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 31 July The statutory auditors have expressed an unmodified review report on these consolidated financial results. 3 Final dividend of? 6.25 per share (625 % on par value of? 1 each), including special dividend of? 5 per share, for the financial year aggregating to? 1, crores (including dividend tax) has been approved by the shareholders in its annual general meeting held on 26 July This dividend will be paid from 16 August 2018 onwards. 4 During the quarter, the Company has alloted 4,743,911 equity shares of face value of? 1 each to the eligible employees of the Company on account of exercise of vested stock options pursuant to the Dabur Employee Stock Option Scheme. 5 Figures for the quarter 31 March 2018 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 financial year. 6 During the quarter 30 June 2018, long term investments amounting to? crores and? crores have been invested and redeemed respectively. 7 The key standalone financial information of the Company is given below: Particulars Quarter (30/06/2018) Preceding quarter Corresponding quarter (30/06/2017) Previous year (Unaudited) (Refer Note 5) (Unaudited) (Audited) Revenue from operations 1, , , , Profit before tax , Net profit for the period/year , Other comprehensive income (26.29) (1.99) (29.56) Total comprehensive income for the period/year , % SIG. O ror IDENTIFICATION PURPOSES 'WDlO/f < 's A v % r-f % ic /, For and on behalf of Board of Directors y~ c Dr. Anand C. Burman Chairman DIN : Place: New Delhi Date: 31 July 2018

8 Walker ChandiokScCo LLP Walker Chandiok& Co LLP (Formerly Walker, Chandiok & Co) L-41 Connaught Circus New Delhi India T F Independent Auditor's Review Report on Standalone Quarterly Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regidations, 2015 To the Board of Directors of Dabur India Limited 1. We have reviewed the accompanying statement of unaudited standalone financial results ('Statement') of Dabur India Limited ('the Company') for the quarter 30 June 2018, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, This Statement is the responsibility of the Company's Management and has been approved by the Board of Directors. Our responsibility is to issue a report on the Statement based on our revie-w. 2. We conducted our review in accordance with the Standard on Revie-w Engagement (SRE) 2410, Review of Interim Financial Information Performed by the Independent Auditor of the Entity, issued by the Institute of of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is Umited primarily to inquiries of Company personnel and analytical procedures, applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion. <?-!p4; <f v 0 0 g F 0 : % Offices in Bengaluru, Chandigarh Chennai, Qurgaon, Hyderabad, Kolkata, Mumbai, New Delhi, Noida and Pune Walker Chandiok & Co LLP is registered with limited liability with identification number AAC-2085 and its registered office at L-41 Connaught Circus, New Delhi, , India

9 Walker Chandiok&CoLLP Independent Auditor's Review Report on Standalone Quarterly Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Cont'd) 3. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement prepared in accordance with applicable Indian Accounting Standards specified under Section 133 of the Companies Act, 2013 and SEBI Circulars CIR/CFD/CMD/15/2015 dated 30 November 2015 and CIR/CFD/FAC/62/2016 dated 5 July 2016, and other recognised accounting practices and policies has not disclosed the information required to be disclosed in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, including the manner in which it is to be disclosed, or that it contains any material misstatemeat. VGAoCjiA-. - c-> For Walker Chandiok & Co LLP Firm Registration No: N/N c David Jones Partner Membership No N v (0 g p 0 co % '.<»- $? 'id Place: New Delhi Date: 31 July 2018

10 Dabur India Limited Statement of unaudited standalone financial results for the quarter 30 June 2018 SI.No Particulars Quarter (30/06/2018) Preceding quarter Corresponding quarter (30/06/2017) ICfc&r (? in crores) Previous year 1 Income Revenue from operations (refer note 1) Other income (Unaudited) (Refer Note 5) (Unaudited) (Audited)! 1, , , , Total income 1, , , , Expenses Cost of materials consumed (including excise duty) Purchases of stock in trade Changes in inventories of finished goods, stock-in-trade and work-in-progress Employee benefits expense Finance costs Depreciation and amortisation expense Other expenses Advertisement and publicity Others (33.27) (39.33) , (74.03) Total expenses 1, , , , Profit before exceptional items and tax , Exceptional items Profit before tax , Tax expense Current tax Deferred tax (1.10) (48.25) (39.25)1 7 Net profit for the period/year , a) b) Other comprehensive income Items that will not be reclassified to profit or loss Income tax relating to items that will not be reclassified to profit or loss Items that will be reclasssified to profit or loss Income tax relating to items that will be reclasssified to profit or loss (0.19) 0.04 (34.08) (0.15) (3.38) (0.18) (3.29) (0.77)] 0.16 (37.74) [Total cqmprehensiye income for the period/year , ] Paid-up equity share capital (Face value of? 1 each) ther equity 4, Earnings per share (Face value of? 1 each) (not annualised) Basic (?) Diluted (?) SIGN.D FOR, tdentlflcation PURPOSES A y s. ~7rco *

11 Dabur India Limited Unaudited standalone segment wise revenue, results, assets and liabilities for the quarter 30 June 2018 SI.No Particulars Quarter (30/06/2018) Preceding quarter Corresponding quarter (30/06/2017) h- ur (? in crores) Previous year (Unaudited) (Refer Note 5) (Unaudited) (Audited) 1 Segment revenue C. Other segments D. Unallocated other operating revenue 1, , , Revenue from operations 1, , , , Segment results C. Other segments Sub Total Less: Finance costs Less: Unallocable expenditure net off unallocable income (32.14) (1.46) (0.93) 1, , (10.42)1 Profit before exceptional items and tax , Exceptional items Profit before tax , Less: Tax expenses Net profit for the period/year , Segment assets 1, , , , , , C. Other segments D. Unallocated , , Total 6, , , , Segment liabilities C. Other segments D. Unallocated Total 1, , , , SIGNED FOR IDENTIFICATION PURPOSES / -0 * ACC v

12 Notes: 1 Revenue for the quarters 30 June 2018 and 31 March 2018 is net of Goods and Service Tax (GST) which is applicable from 1 July 2017, however, revenue for the quarter 30 June 2017 is net of VAT but gross of excise duty. Accordingly, revenue for the quarters 30 June 2018 and 31 March 2018 is not comparable with the previous quarter 30 June Similarly, cost of goods sold and expenses are also not comparable. 2 The unaudited standalone financial results of the Company for the quarter 30 June 2018 have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 31 July 2018.The statutory auditors have expressed an unmodified review report on these standalone financial results. 3 During the quarter, the Company has alloted 4,743,911 equity shares of face value of? 1 each to the eligible employees of the Company on account of exercise of vested stock options pursuant to the Dabur Employee Stock Option Scheme. 4 Final dividend of? 6.25 per share (625 % on par value of? 1 each), including special dividend of? 5 per share, for the financial year aggregating to? 1, crores (including dividend tax) has been approved by the shareholders in its annual general meeting held on 26 July This dividend will be paid from 16 August 2018 onwards. 5 Figures for the quarter 31 March 2018 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 financial year. 6 During the quarter 30 June 2018, long term investments amounting to? crores and? crores have been invested and redeemed respectively. T? For and on behalf of Board of Directors Y SIGMEDFO.R. IDE'NTIFICATION "PURPOSES MWo/,: <? < %?. * * -? \ %otcc <x-\ c Dr.Anand C. Burman Chairman DIN : Place: New Delhi Date: 31 July 2018

Sub: Audited Financial and Seament-wise Results for the Quarter and Year ended 31st March 2018 and recommendation of dividend

Sub: Audited Financial and Seament-wise Results for the Quarter and Year ended 31st March 2018 and recommendation of dividend Ref: SEC/SE/2018-19 Date: May 01, 2018 Scrip Symbol: NSE & MSEI - DABUR, BSE Scrip Code: 500096 j?sa. 2& _» s W T India Ltd. To, Corporate Relation Department Bombay Stock Exchange Ltd. Phiroze Jeejeebhoy