Dabur company , India

Code of Ethics & Conduct A commitment to

Commitment to ethical professional conduct is a MUST for every employee at Dabur- in all of its businesses/ units/ subsidiaries. This code, consisting of imperatives formulated as statements of personal responsibility, identifies the elements of such a commitment. It contains many, but not all, issues employees are likely to face. Section 1 of this code outlines fundamental ethical considerations, while Section 2 addresses additional, more specific considerations of professional conduct. The code is intended to serve as a basis for ethical decision-making in the conduct of professional work. It may also serve as a basis for judging the merit of a formal complaint pertaining to violation of professional ethical standards. It is understood that some words and phrases in a code of ethics and conduct document are subject to varying interpretations and that any ethical principle may conflict with other ethical principlesin specific situations. Questions related to ethical conflicts can best be answered by thoughtful consideration of fundamental principles rather than reliance on detailed regulations. In case of conflict, the decision of the Board shall Specific Professional Responsibilities

Section 2 Live the Dabur values- each day. We must live the Dabur values- each day. For quick reference our core values are: Ownership This is our company. We accept personal responsibility and accountability to meet business needs Passion for winning We all are leaders in our area of responsibility with a deep commitment to deliver results. We are determined to be the best at doing what matters most. People development People are our most important asset. We add value through result driven training and we encourage & reward excellence. Consumer focus We have superior understanding of consumer needs and develop products to fulfill them better. Teamwork We work together on the principle of mutual trust and transparency in a boundary less organization. We are intellectually honest in advocating proposals, including recognizing risks. Innovation: Continuous innovation in products and processes is the basis of our success. Integrity: We are committed to the achievement of business success with integrity. We are honest with consumers,with business partners and with each other.Strive to achieve the highest quality, effectiveness and dignity in both the processes and products of professional work.Excellence is perhaps the most important obligation of a professional. We must strive to achieve the highest quality, effectiveness and dignity in all that we are responsible for- each day.Acquire and maintain professional competence.Excellence depends on individuals who take responsibility for acquiring and maintaining professional competence. We must participate in setting standards for appropriate levels of competence, and strive to achieve those standards.

Know and respect existing laws. We must obey existing local, state, national, and international laws unless there is a compelling ethical basis not to do so. We should also obey the policies, procedures, rules and regulations of the company. Violation of a law or regulation may be ethical when that law or rule has inadequate moral basis or when it conflicts with another law judged to be more important. If one decides to violate a law or rule because it is viewed as unethical, or for any other reason, one must fully accept responsibility for one's actions and for the consequences. Accept and provide appropriate professional review. Quality professional work depends on professional reviewing and critiquing. Whenever appropriate, individual members should seek and utilize peer review as well as provide critical review of the work of others. Manage personnel and resources to enhance the quality of working life. Organizational leaders are responsible for ensuring that a conducive environment is created for fellow employees to enable them delivering their best. We all, therefore, are responsible for ensuring human dignity of all our colleagues, ensuring their personal & professional development and enhancing the quality of working life. Deal with the Media tactfully We should guard against being misquoted and finding ourselves compromised. The window for the media is the office of the Group Director, CEO or Corporate Communications Cell. Press statements are to be handled by the Group Director, CEO, Corporate Communications Cell or those specifically authorized in this regard, because they have the wider awareness of the companys business and policies. Our role as individuals is always to be tactful and to avoid comment and to pass enquiries to those who are authorized to respond to them. We undertake to comply with Companys Code of Corporate Disclosure Practices. Be upright and avoid any inducements: Neither directly nor through family and other connections indirectly, should we solicit any personal fee,commission or other form of remuneration arising out of transactions involving Dabur. This includes gifts or other benefits of significant value, which might be extended at times, to influence business- especially during bulk purchase of commodities for the Organization or awarding a contract to an agency etc, we are likely to be offered various gifts by vendors / parties/ agencies and people associated with Dabur under different wraps or generally on personal celebrations or functions or religious festivals etc. We should avoid such

inducements. This will go a long way in building our credibility. The Companys policy is to select significant suppliers and award contracts on the basis of competitive bids under free market regime and we abide to follow that. Observe Corporate Discipline. Our flow of communication is not rigid and people are free to express themselves at all levels. However, this informality should not be misunderstood. What it means is that though there is a free exchange of opinions in the process of arriving at a decision, but after the debate is over and a policy consensus has been established, all are expected to adhere and abide by it, even when in certain instances we may not agree with it individually.In some cases policies act as a guide to action, in others they are designed to put a constraint on action. We all must learn to recognize the difference and appreciate why we need to observe them. Conduct ourselves in a manner that reflects credit to the Company. All of us are expected to conduct ourselves, both on and off-duty, in a manner that reflects credit to the company. The sum total of our personal attitude and behavior has a bearing on the standing of DABUR and the way in which it is perceived within the organization and by the public at large. Each of us is a part of the human entity we call DABUR and it behooves on us to do it proud. Be accountable to our stakeholders. All of those whom we serve, be it our customers, without whom we will not be in business, our shareholders,who have an important stake in our business and the employees, who have a vested interest in making it all happen- are our stakeholders. And we must keep in mind at all times that we are accountable to our stakeholders. Inside information gained from the Company or otherwise must not be used for personal gains. We undertake to comply with the Companys Code of Conduct for Prevention of Insider Trading. Identify, mitigate and manage business risks. Dabur recognizes that, in the normal course of operations, its activities are routinely exposed to the whole continuum of risks that a Fast Moving Consumer Goods (FMCG) company faces today. Further, being in the Herbal/ Ayurvedic segment, Dabur is also aware that certain risks it faces are somewhat peculiar and greater than those that generally exist in the FMCG business. All these risks could prevent it from achieving its business objectives. Some of these risks could lead to personal injury, damage or loss to human, physical and financial resources that make up the business. These risks could also result in harm to consumers or

damage to the community. These business objectives, assets and the community represent the underlying value of Dabur, and therefore they merit protection against possible loss, through the identification, analysis and control of the various risks that exist from time to time.Thus, it is our responsibility to follow our institutionalized Dabur Risk Management Framework to identify the business risks that surround our function or area of operation and to assist in the company-wide process of managing such risks, so that Dabur may achieve its wider business objectives. All of us should continuously ask ourselves "What can go wrong and what am I doing to prevent it from going wrong."