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Godrej Consumer Products Limited Godrej One, 4th Floor, Pirojshanagar, Eastern Express Highway, Vikhroli (E), Mumbai – 400 079, India Tel.: +91-22-2518 8010/ 8020/ 8030 Fax.: +91-22-2518 8040/ 8065/ 8069 Website: www.godrejcp.com CIN: L24246MH2000PLC129806 November 4, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Bandra-Kurla Complex, Dalal Street, Mumbai 400 051 Fort, Mumbai - 400 001 Symbol: GODREJCP Scrip Code: 532424 Subject: Transcript of Conference Call with Investors and Analysts held on October 29, 2026 Dear Sir / Madam, Please find enclosed herewith the transcript of Conference Call of Godrej Consumer Products Limited with the Investors and Analysts held on Thursday, October 29, 2026, at 5.00 P.M. (IST). The aforesaid information is also being hosted on the website of the Company at the below mentioned weblink: https://www.godrejcp.com/uploads/GCPL_Earnings_call_Q2_F_112a687831.pdf Kindly take the same on record. Thanking you, Yours faithfully, For Godrej Consumer Products Limited Tejal Jariwala Company Secretary & Compliance Officer (FCS 9817) Encl: As above Godrej Consumer Products Limited Q2 FY27 Earnings Conference Call October 29, 2026 MANAGEMENT: MR. AASIF MALBARI – MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER – GODREJ CONSUMER PRODUCTS LIMITED MR. VISHAL KEDIA – INTERIM CHIEF FINANCIAL OFFICER – GODREJ CONSUMER PRODUCTS LIMITED Page 1 of 10 Moderator: Ladies and gentlemen, good day, and welcome to the Godrej Consumer Products Limited Q2 FY27 Earnings Conference Call. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing star and then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference call over to Mr. Vishal Kedia. Thank you, and over to you, sir. Vishal Kedia: Good evening to all. I welcome you to the conference call for GCPL. We have with us Mr. Aasif Malbari, MD and CEO; and myself, Vishal, Interim CFO for the company. We will start with opening remarks from Aasif, post which we will move to the Q&A segment. I hand over the call to Aasif now. Aasif Malbari: Good evening, everybody. FY27 has been a quarter of strong broad-based performance for Godrej Consumer Products Limited, fully aligned with our expectations and strategic priorities. We delivered strong broad-based underlying volume growth across India, Indonesia and Africa despite subdued monsoon conditions in India, while being supported by tailwinds in Indonesia. At a consolidated level, revenues grew 19% year-on-year, 15% in constant currency terms with underlying volume growth of 8%. EBITDA grew 12%. Net profit grew 14% to INR523 crores. This marks our second consecutive quarter of high teens revenue growth with high single-digit underlying volume growth and double-digit profit growth. Our stand-alone business delivered 13% sales growth performance, driven by 7% underlying volume growth. This is despite an estimated 150 bps impact from trade inventory correction in the quarter. While this has been a modest near-term impact in terms of the correction we've done, we believe that maintaining healthy channel levels is important for operational excellence and sales team to remain focused purely on offtake. Stand-alone EBITDA was mildly impacted due to this correction. In Home Care, we delivered 19% value growth led by strong performance in air fresheners and home care liquids. Alongside that, we gained market share in Household Insecticides. This is encouraging and indicates that the actions we have taken across brands are beginning to deliver. Our electric portfolio delivered sequentially improving performance, supported by the new 6 minutes campaign, while incentives continue to scale strongly. Godrej Fab maintained a strong double-digit growth trajectory and continued to strengthen its market position. Godrej Spic, which was scaled nationally during Q1, continues to witness healthy consumer repeat and sequential growth with significant distribution headroom still available. During this quarter, we launched Godrej Rizz in selected markets across West and South India. We also launched Godrej Zap, our entry into stain removers online. Both these new launches have been received well. Personal Care delivered value growth of 8%. Soaps remained stable despite significant price increases and grammage reduction. although with a favorable comparator. Our premium liquids Page 2 of 10 continue to do well. Cinthol body wash continues to scale sequentially, while Muuchstac face wash progressed in line with our business plan. Actually, it progressed beyond our business plan. Hair colors maintained its growth momentum and continues to gain market share across our key bets. Perfumes and deodorants delivered strong double-digit growth, supported by healthy underlying volume growth in deodorant and continued momentum in perfumes and EDP. Our international portfolio delivered strong growth. In Indonesia, sales grew 20% with underlying volume growth of 8%. EBITDA grew 12% with LPG prices doubling. However, we have benefited from El Nino tailwind in Indonesia, leading to increased mosquito infestation. With our future portfolio of LV, Pocket, etcetera, we have seen tremendous success with double- digit underlying volume growth sustained. GUAM delivered another outstanding quarter. Sales grew 40% in INR terms and 23% in constant currency terms, supported by underlying volume growth of 16%. EBITDA grew 43%. This performance was broad-based across categories and geographies. More importantly, GUAM has now delivered 7 consecutive quarters of double-digit top line growth and 11 consecutive quarters of double-digit bottom line growth. This reinforces our confidence that the improvements in the business is structural. We continue to be focused on the larger opportunity that the continent offers. The launch of HI incense stick was well received and is having good early traction. The input cost environment remained significantly challenging through the quarter. Inflation intensified across crude-linked derivatives, palm oil and commodity inputs. This led to one of the highest inflationary impacts in the last many years. Due to the nature of our portfolio in India and Indonesia, the impact of such inflation has been approximately high single digit. Despite a significant portion of our portfolio being price point pack, we have taken stringent pricing actions combined with large cost savings program and media and trade level investment optimization. We strive to keep the share of voice range bound. We have also increased the salience of our digital investments, which has given us much higher ROI. We will continue to take calibrated pricing actions significantly in soaps and liquid detergents, where the cost impact is large and the margins even today are below normative levels. With continued cost savings and future pricing, we will ensure that we continue to invest behind our growth drivers while managing to deliver on our stated profit growth guidance. We continue to hold our FY27 guidance, high single-digit underlying volume growth in stand-alone and double-digit revenue and EBITDA growth at a consol level. With revenues running ahead of plan through the first half, we remain on track to deliver with the confidence to exceed it in certain areas. We remain confident in the resilience of our portfolio, the strength of our brands and our ability to deliver sustained profitable growth going forward. Our measure of outperformance remains double-digit UVG and profit growth. Thank you. Page 3 of 10 Vishal Kedia: We now open the call for questions. Moderator: Thank you very much. We will now begin the question-and-answer session. Our first question comes from the line of Abneesh Roy with Nuvama. Abnees [Showing first 8,000 characters — download PDF for full document]