PRESS RELEASE

Godrej Industries: FY 2007-08

Consolidated PBDIT up 97%; PAT up 185%; Revenue up
25%

May 28th, 2008 - Mumbai, India: Godrej Industries Ltd., a diversified Indian company
with business interests ranging from chemicals, processed foods and beverages,
animal feeds, poultry, rural retailing, pest management services, property development,
agri-products to branded tea, confectionery and household insecticides among others,
today announced its audited financial results for the financial year ended 31st March,
2008.

Highlights

• FY2007-08 consolidated PBDIT higher at Rs. 256 crore up 97%

• FY2007-08 consolidated PBT increases 176% to Rs. 210 crore
• FY2007-08 consolidated PAT grew by 185% to Rs. 168 crore
• FY 2007-08 consolidated Total Income up by 25 % to Rs. 3006 crore
• Chemicals business receives award for ‘Outstanding exporter of the year’ in
International Trade Awards, 2008 organised by CNBC TV 18 and DHL
• Subsidiaries and joint ventures invest in launching product innovations and brand activity

Commenting on the results, Mr. Adi Godrej, Chairman, Godrej Industries Limited, said,
“Godrej Industries has delivered consistent results for the financial year under review. Its
Chemicals business bounced back strongly as a result of efficient buying and improved margins
with a growing focus on exports.
Each of our subsidiaries and associates have performed in line with expectations and
maintained their vibrancy through brand innovation and activities that are yielding positive
results.

I am certain that our investments across each of our subsidiaries and associates will mean a
brighter future for Godrej Industries and its shareholders.”

Godrej Industries Limited Pirojshanagar

www.godrejinds.com Eastern Express Highway
Vikhroli, Mumbai
400 079 India
Godrej marketing and branding strategy – Investing in a Brighter Future

Godrej group has charted a new marketing and branding strategy that aims at
revitalising the Godrej master brand. The group has unveiled its new corporate identity
recently. The group intends to invest significantly in its Master Brand as part of a
systematic plan for creating a strong Godrej brand franchise through strategies for
product and brand development, retail channel strategy, communication and talent
management. The initial phase of the initiative will build the Godrej Master Brand in
tandem with the four businesses of personal grooming, furniture, property and
aerospace.

Business and operational perspective

Chemicals Division

The Chemicals division reported a strong revenue growth of 21% for FY 2007-08 at
Rs.692 crore compared to Rs.572 crore in the previous fiscal. Profit before Interest and
Tax grew by a 1267% to Rs.82 crore versus Rs.6 crore in FY 2006-07, largely due to
efficient and effective raw material procurement and improved margins. Exports have
also contributed to the growth by crossing the 300 crore mark in terms of revenue and
now comprise 43% of the division’s turnover, with exports to over 60 countries.

The Chemicals division was recognized as the ‘Outstanding Exporter of the Year’ for
the second consecutive time in the chemicals category of the ‘International Trade
Award 2008’ awarded by CNBC-TV18 and DHL.

During the year, the division also accomplished forward integration into high-value
added surfactants and derived significant operational efficiencies from its improvement
initiative ‘Parivartan’ at its Valia factory.

GIL sold its medical diagnostics division as a going concern as at the end of December
31, 2007 to RFCL, one of the leading life sciences and lab solutions company, to
ensure its continued growth.

Overview of Major Subsidiaries and Associate Companies

Godrej Agrovet Limited (GAVL)

GAVL is in the business of animal feeds, agri inputs, poultry, oil palm and rural
retailing. GAVL recorded revenue growth of 19% in FY 2007-08.

Godrej Agrovet launched 26 new rural retailing stores under its ‘Aadhaar’ banner to
take its total number of stores to 65 outlets.

Godrej Industries Limited Pirojshanagar

www.godrejinds.com Eastern Express Highway
Vikhroli, Mumbai
400 079 India
During the course of the fiscal, the Aadhaar rural retail business implemented a
number of marketing and promotion initiatives such as:

• Launching the “Chak De – Jeet Le” promo campaign in October with strategic
partners like Tata Motors, TVS and Nokia
• Opening the first Petro Format Aadhaar Express Store in Gujarat
• Creating the second Petro Format Aadhaar Express outlet with BPCL in Kashti
(Maharashtra)
• Adding branded ‘Shop-in-shops’ (e.g. Grasim, Welspun, Shemaroo, Nilkamal)
• Forging strategic tie-ups with Reliance General Insurance Co. Ltd. for
promoting insurance products in Aadhaar stores

The Nature’s Basket chain of stores continues to redefine high-end, urban retailing with
the addition of new world-food categories such as imported wine, cheese, cold-cuts
and processed food. Yummiez, range of ready to eat veg and non-veg snacks, opened
18 new kiosks in shopping malls and multiplexes to strengthen its presence amongst
its key consumer segments.

GAVL entered into a Joint Venture with Future Ventures and sold a 70% stake in
Aadhaar Retailing Limited to them. The joint venture will effectively combine Future
Venture’s retailing expertise with Godrej Agrovet’s experience in rural marketing.

GAVL acquired 51% in Cauvery Palm Oil Limited in March, 2008 to give it access to
palm oil plantations in Tamil Nadu and strengthen its palm oil business.

Godrej Properties Limited

Godrej Properties is in the process of filing a Draft Red Herring Prospectus with SEBI
to take forward its plan for an IPO in the near future. In view of regulatory restrictions,
no business / financial performance updates can be provided at this time.
Godrej Global Solutions Limited (GGSL)

Godrej Industries inked a share sale agreement in May 2008 to sell its stake in GGSL
to Tricom Limited. This move will help the business grow faster and service clients
more efficiently by leveraging the synergies between the two companies’ common
areas of business. GGSL operates in the healthcare, finance and accounts domain.

Godrej Consumer Products Limited (GCPL)

As India’s second largest toilet soap manufacturer, the company has achieved a
revenue growth of 12% for the fourth quarter of 2007-08 and a revenue growth of 16%
in FY 2007-08. PAT grew by 33% in the last quarter of the fiscal and by 19% in FY
2007-08.

Godrej Industries Limited Pirojshanagar

www.godrejinds.com Eastern Express Highway
Vikhroli, Mumbai
400 079 India
GCPL extended its presence in South Africa through the acquisition of Kinky, a
marketer of hair, hair braids, hair pieces, wigs, wefted pieces and other hair products
like styling gels, hair sprays and oil free shampoos. The company also acquired ‘Godrej
Global Mideast FZE’ a 100% subsidiary of Godrej Industries Ltd.

During its most recent fiscal, GCPL invested significantly in its brands and maintained a
focus on launching innovative new products into the market. For instance, the
company:

• Relaunched brand Cinthol with the “24 hour confidence” proposition, new
graphics and a new range of soaps, talcs and deodorants
• Launched Renew Powder Hair Colours - a new offering under Renew brand.
• Relaunched Powder Hair Dye as Godrej Expert Hair Dye
• Launched new variant - Papaya and Lotus under the Godrej No.1 Brand.
• Godrej SCA Hygiene launched “Libero” baby diapers, “Tena” incontinence
diapers and “Libresse” Sanitary Napkins across India
• Godrej SCA Hygiene relaunched “Snuggy Dry” Baby Diapers in Kerala and
Tamil Nadu – with a unique absorption formula and a cloth like feel.

GCPL also continues to be a leader in the other categories it is present in. Godrej Ezee
for instance, is the only premium brand to be awarded SuperBrand status and Fairglow
continues to be the largest selling fairness soap in India

Godrej Sara Lee Limited (GSLL)

GSLL spans a wide variety of categories with leading brands such as Good Knight, Jet,
Ambipur, HIT, Brylcreem, Kiwi and Kleen.

In the last fiscal, GSLL launched the Ambipur aromatherapy range of car perfumes and
acquired the household and body care business of Sara Lee in India and Sri Lanka.

GSLL also unveiled a new identity for Good Knight with advanced packaging and
maintains its leadership in the household insecticides category.

During FY 2007-08, GSLL witnessed a revenue growth of 26% and a PAT growth of
34% on consolidated basis. Its profitability has been aided by successful efforts to re-
engineer costs and improve realizations.

Godrej Industries Limited Pirojshanagar

www.godrejinds.com Eastern Express Highway
Vikhroli, Mumbai
400 079 India
Godrej Hershey Limited (GHL)
(Formerly known as Godrej Hershey Foods & Beverages Limited)

GHL markets juices and fruit drinks under brands Xs and Jumpin; soyamilk based
drink under the Sofit brand; and edible oil brands like Cooklite, and packaged tea
under the brand name Godrej Tea and confectionery under the Nutrine portfolio. The
Nutrine’s portfolio includes strong sub-brands like MahaLacto, Maha MahaLacto,
Koko Naka, Milk Eclairs, Honey Fab, Aam Ras, Aasay, SuperStar and Gulkand.

The company forayed into the Milk Food Drinks (MFD) category by rolling out the first
‘made in India’ Hershey innovation, Hershey’s Nourishing Milkmix in Tamil Nadu.
Hershey’s Milkmix is a fortified chocolate syrup in easy-to-squeeze bottles that makes
great tasting hot chocolate mix.

The company’s new initiatives included a ramp up of sales for the new candy Super
Maha Lacto through a concerted media campaign and distribution efforts. GHL also
launched a new variant of Nutrine éclairs and special packs for candy and beverages
segment during the festive season.

The sales of other Godrej Hershey brands like Sofit and Xs grew by 51% and 23%
respectively.

-----End-----

About Godrej Industries Limited

Godrej Industries Ltd. (GIL) largely operates in the business of oleo-chemicals, edible oils, fats,
processed foods, finance & investments and estate management. It has substantial interest in
several industries including animal feeds and agro-products, poultry, rural retailing, property
development, household insecticides, pest management services, branded tea, etc., through its
subsidiaries and associate companies.

The Chemicals Division of Godrej Industries Ltd. is a leading manufacturer of oleochemicals like
fatty acids, glycerin, fatty alcohols and surfactants. The Chemicals Division has manufacturing
facilities at Vikhroli, Mumbai and Valia, Gujarat.

The Veg Oils division of Godrej Industries manufactures edible oils, vanaspati and bakery fats.
The division has a state-of-the-art manufacturing facility at Wadala in Mumbai. The plant is
equipped with the best of modern equipment for the processing and packaging of a wide variety
of food products.

Some of the statements in this communication may be ‘forward looking statements’ within the meaning of
applicable laws and regulations. Actual results might differ substantially from those expressed or implied.
Important developments that could affect the Company’s operations include changes in the industry
structure, significant changes in political and economic environment in India and overseas, tax laws, import
duties, litigation and labour relations.

Godrej Industries Limited Pirojshanagar

www.godrejinds.com Eastern Express Highway
Vikhroli, Mumbai
400 079 India
Investor enquires:

Adrian Terron
VP-Corporate Communications
Godrej Industries Limited
Tel - 9820506881
Fax : 2518 8040
e-mail – adrian.terron@godrejinds.com

Press enquires:

Sachin Bhandary
Associate Image Manager
Perfect Relations
Tel – 9819954815
Fax :2438 4564
e-mail – sbhandary@perfectrelations.com

Godrej Industries Limited Pirojshanagar

www.godrejinds.com Eastern Express Highway
Vikhroli, Mumbai
400 079 India