Investor Presentation April 2018

Trade Q4 - Market Context • WS showing signs of sequential recovery now • Urban Retail looking positive with no residual impact of GST • CSD channel is looking slightly better but difficult to predict if it will ever go back to its earlier size ⚫ Offtakes Strong momentum on ADHO in both rural and urban with higher sequential growths than the market. Costs • 40% increase in crude oil prices resulting in impacting 50% spend - LLP, Freight and plastic prices Value engineering Initiatives & coverage helped in lowering the COGS impact GREAT PLACE ΤΟ WORK CERTIFIED JAN 2017 - DEC 2017 INDIA

View entire presentation