INDEPENDENT PRACTITIONER'S REASONABLE AND LIMITED ASSURANCE REPORT TO THE BOARD OF DIRECTORS OF GODREJ INDUSTRIES LIMITED Assurance report on select sustainability disclosures in the Business Responsibility and Sustainability Reporting (BRSR) Format (called 'Identified Sustainability Information' (ISI)) of Godrej Industries Limited (the 'Company') for the period from April 01, 2024 to March 31, 2025. Reasonable Assurance Opinion and Limited Assurance Conclusion
We have performed an assurance engagement on the Identified Sustainability Information (referred to as 'ISI') for the period from April 01, 2024 to March 31, 2025 in accordance with the reporting criteria (refer table below).
Identified Sustainability Information (ISI) subject to assurance | Period subject to assurance | Level of Assurance | Reporting criteria (the 'Criteria') |
BRSR Core (refer Annexure A) | April 01, 2024 to March 31, 2025 | Reasonable assurance |
format issued by SEBI |
Select sustainability disclosure in the BRSR report (which is not part of the BRSR core) (refer Annexure B) | April 01, 2024 to March 31, 2025 | Limited assurance |
format issued by SEBI |
This engagement was conducted by a multidisciplinary team including assurance practitioners and engineers.
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Reasonable assurance opinion
In our opinion and to the best of our information and according to the explanations given to us, the Company's Identified Sustainability Information included in the Business Responsibility and Sustainability Reporting for the period April 01, 2024 to March 31, 2025, which was subject to reasonable assurance is prepared, in all material respects, in accordance with the Criteria.
- Limited assurance conclusion
Based on the procedures we have performed and the evidence we have obtained, nothing has come to our attention that causes us to believe that the Company's Identified Sustainability Information included in the Business Responsibility and Sustainability Reporting for the period April 01, 2024 to March 31, 2025, which was subject to limited assurance is not prepared, in all material respects, in accordance with the Criteria.
Basis of Opinion and ConclusionWe conducted our engagement in accordance with Standard on Sustainability Assurance Engagements (SSAE) 3000, "Assurance Engagements on Sustainability Information" and Standard on Assurance Engagements (SAE) 3410 "Assurance Engagements on Greenhouse Gas Statements" (together referred to as 'Standards'), both issued by the Sustainability Reporting Standards Board of the Institute of Chartered Accountants of India (the 'ICAI'). Our responsibilities under those standards are further described in the "Our responsibilities" section of our report.
We have maintained our independence and confirm that we have met the requirements of the Code of Ethics issued by the Institute of Chartered Accountants of India and have the required competencies and experience to conduct this assurance engagement.
The firm applies Standard on Quality Control (SQC) 1, "Quality Control for Firms that Perform Audits and Reviews of Historical Financial Information, and Other Assurance and Related Services Engagements", and accordingly maintains a comprehensive system of quality control including documented policies and procedures regarding compliance with ethical requirements, professional standards, and applicable legal and regulatory requirements.
Other InformationThe Company's Board of Directors are responsible for the other information. The other information comprises the information included within the BRSR but does not include the ISI and our assurance report thereon.
Our opinion on BRSR core attributes and conclusion on the select BRSR attributes does not cover the other information and we do not express any form of assurance conclusion thereon.
In connection with our assurance engagement of the ISI, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the ISI, or our knowledge obtained during the course of our engagement or otherwise appears to be materially misstated.
If, based on the work we have performed, we conclude that there is a material misstatement of this Other Information, we are required to report that fact. We have nothing to report in this regard.
Other MatterThe BRSR for the period from April 01, 2023 to March 31, 2024 was not subject to limited/ reasonable assurance engagement and, accordingly, we do not express an opinion / conclusion or provide any assurance on such information.
Our opinion is not modified with respect to this matter.
Inherent limitationsThe absence of a significant body of established practice on which to draw to evaluate and measure non-financial information allows for different, but acceptable measures and measurement techniques and can affect comparability between entities.
The preparation of the Company's BRSR information requires the management to establish or interpret the criteria, make determinations about the relevancy of information to be included, and make estimates and assumptions that affect the reported information.
Measurement of certain amounts and BRSR core metrics, some of which are estimates, is subject to substantial inherent measurement uncertainty, for example GHG emissions, water footprint, energy footprint. Obtaining sufficient appropriate evidence to support our opinion does not reduce the uncertainty in the amounts and metrics.
Management's ResponsibilitiesThe Company's management is responsible for selecting or establishing suitable criteria for preparing the Identified Sustainability Information, taking into account applicable laws and regulations, if any, related to reporting on the Sustainability Information, identification of key aspects, engagement with stakeholders, content, preparation and presentation of the Identified Sustainability Information in accordance with the Criteria. This responsibility includes design, implementation and maintenance of internal control relevant to the preparation of the BRSR and the measurement of Identified Sustainability Information, which is free from material misstatement, whether due to fraud or error.
Auditors responsibilities with respect to the reasonable assurance opinionOur responsibility is to express a reasonable assurance conclusion on the Identified Sustainability Information based on the procedures we have performed and evidence we have obtained.
We conducted our engagement in accordance with the Standards issued by the Sustainability Reporting Standards Board of the Institute of Chartered Accountants of India. These Standards requires that we plan and perform our engagement to obtain reasonable assurance about whether the Identified Sustainability Information are prepared, in all material respects, in accordance with the Reporting Criteria. A reasonable assurance engagement involves assessing the risks of material misstatement of the Identified Sustainability Information whether due to fraud or error, responding to the assessed risks as necessary in the circumstances.
The procedures we performed were based on our professional judgment and included inquiries, observation of processes performed, inspection of documents, evaluating the appropriateness of quantification methods and reporting policies, analytical procedures and agreeing or reconciling with underlying records.
Given the circumstances of the engagement, in performing the procedures listed above, we:
assessed the suitability of the criteria used by the Company in preparing the reasonable assurance information;
evaluated the appropriateness of reporting policies, quantification methods and models used in the preparation of the information subject to reasonable assurance and the reasonableness of estimates made by the Company; and
evaluated the overall presentation of the information subject to reasonable assurance.
Our responsibilities with respect to the limited assuranceOur responsibility is to express a limited assurance conclusion on the Identified Sustainability Information based on the procedures we have performed and evidence we have obtained.
We conducted our limited assurance engagement in accordance with the Standards issued by the Sustainability Reporting Standards Board of the Institute of Chartered Accountants of India. These Standards requires that we plan and perform our engagement to obtain limited assurance about whether the Identified Sustainability Information is free from material misstatement.
A limited assurance engagement involves assessing the suitability in the circumstances of the Company's use of the Criteria as the basis for the preparation of the Identified Sustainability Information, assessing the risks of material misstatement of the Identified Sustainability Information whether due to fraud or error, responding to the assessed risks as necessary in the circumstances, and evaluating the overall presentation of the Identified Sustainability Information.
A limited assurance engagement is substantially less in scope than a reasonable assurance engagement in relation to both the risk assessment procedures, including an understanding of internal control, and the procedures performed in response to the assessed risks.
The procedures we performed were based on our professional judgment and included inquiries, observation of processes performed, inspection of documents, evaluating the appropriateness of quantification methods and reporting policies, analytical procedures and agreeing or reconciling with underlying records.
Given the circumstances of the engagement, in performing the procedures listed above, we:
assessed the suitability of the criteria used by the Company in preparing the reasonable assurance information;
made inquiries of Company's Management, including sustainability team, human resource team amongst others and those with the responsibility for preparation of the Report;
undertook site visits and inspected a limited number of items to or from supporting records, as appropriate.
Recalculated the information subject to limited assurance based on the Criteria; and
evaluated the overall presentation of the information subject to limited assurance.
The procedures performed in a limited assurance engagement vary in nature and timing from, and are less in extent than for, a reasonable assurance engagement. Consequently, the level of assurance obtained in a limited assurance engagement is substantially lower than the assurance that would have been obtained had we performed a reasonable assurance engagement. Accordingly, we do not express a reasonable assurance opinion about whether the Identified Sustainability Information have been prepared, in all material respects, in accordance with the Criteria.
ExclusionsOur assurance scope excludes the following and therefore we will not express an opinion or conclusion on the same:
Operations of the Company other than those mentioned in the "Scope of Assurance".
Aspects of the BRSR and the data/information (qualitative or quantitative) other than the ISI;
Data and information outside the defined reporting period i.e., from April 01, 2024 to March 31, 2025; and
The statements that describe expression of opinion, belief, aspiration, expectation, aim, or future intentions provided by the Company.
Our assurance report has been prepared and addressed to the Board of Directors of Godrej Industries Limited at the request of the company solely, to assist company in reporting on Company's sustainability performance and activities. Accordingly, we accept no liability to anyone, other than the company. Our deliverables should not be used for any other purpose or by any person other than the addressees of our deliverables. The firm neither accepts nor assumes any duty of care or liability for any other purpose or to any other party to whom our deliverables are shown or into whose hands it may come without our prior consent in writing.
For KALYANIWALLA & MISTRY LLP CHARTERED ACCOUNTANTS
Firm Registration No. 104607W/W100166
Jamshed K. Udwadia
PARTNER
Membership No. 124658
UDIN: 25124658BMJKDH6488
Mumbai, May 15, 2025
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Godrej Industries Limited published this content on September 17, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on September 17, 2025 at 09:48 UTC.
