MIRA INFORM REPORT
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Report Date : |
2nd May 2006 |
IDENTIFICATION DETAILS
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Name : |
PROCTER AND GAMBLE HOME PRODUCTS LIMITED |
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Registered Office : |
POG Plaza, Cardinal
Gracias Road, Chakala, Andheri (E), Mumbai 400 099 |
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Country : |
India
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Financials (as on) : |
30.06.2005 |
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Date of Incorporation : |
19TH
January, 1989 |
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CIN No.: |
U24240MH1989PTC050398 |
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Com. Reg. No.: |
11-50398 |
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TAN No.: (Tax Deduction &
Collection Account No.) |
BPLP02632A
/ MUMP10704B |
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PAN No.: (Permanent Account No.) |
AAACP4643H |
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Legal Form : |
A
Closely held public limited liability company |
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Line of Business : |
The
company is engaged in providing branded products and services of superior
quality and value that improve the lives of the world’s consumers. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD850000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a well established and reputed company and a part of Procter and Gamble
Group, world wide. The company Profitability is under severe pressure. It has
some accumulated losses. Payments are however reported as usually correct and
as per commitments. As
the company is a part of Procter and Gamble, it can be considered normal for
business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
POG Plaza, Cardinal
Gracias Road, Chakala, Andheri (E), Mumbai 400 099 |
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Tel. No.: |
91-22-2826
6000 |
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Fax No.: |
91-22-5693
9696 |
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Website : |
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Factory 1 : |
Mandideep Plant : |
DIRECTORS
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Name : |
S.
Khosla |
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Designation : |
Managing
Director |
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Name : |
A
Chhabra |
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Designation : |
Director
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Name : |
V
Bhat |
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Designation : |
Finance
manager |
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BUSINESS DETAILS
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Line of Business : |
The
company is engaged in providing branded products and services of superior
quality and value that improve the lives of the world’s consumers. |
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Brand Names : |
Tide
and Ariel |
PRODUCTION STATUS
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Particulars |
Unit |
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Actual Production |
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Cosmetics.
Personal Products, Toilet Preparations, etc. |
Kls |
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770 |
GENERAL INFORMATION
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Bankers : |
-- |
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Facilities : |
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Banking Relations : |
Satisfactory
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Auditors : |
Deloitte
Haskins and Sells Chartered
Accountants |
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Associates/Subsidiaries
: |
Ø
Procter & Gamble Bangladesh Private
Limited Ø
Procter & Gamble (East Africa) Limited Ø
Procter & Gamble Distributing Company Ø
Procter & Gamble Hygiene and Health
Care Limited Ø
Procter & Gamble Australia Ply
Limited Ø
Procter & Gamble Trading (Thailand)
Lid. Ø
Procter & Gamble Sri Lanka Private
Limited Ø
Procter & Gamble Asia Pte Limited Ø
Procter & Gamble Vietnam Limited Ø
Procter & Gamble Services GMBH Ø
Procter & Gamble International
Operations SA Ø
Procter & Gamble International
Operations Pie Limited Ø
P.T. Procter & Gamble Home Products
Indonesia Ø
Procter & Gamble Far East Inc Ø
Procter & Gamble Malaysia SON BHD Ø
Procter & Gamble Singapore Pte Limited Ø
Wella India Hair Cosmetics Private Limited Ø
Procter & Gamble (Guangzhou) Limited Ø
Procter 8, Gamble CEEMEA- A Division of
Procter 8, Ø
Gamble International Operations SARL Ø
Procter a Gamble US Business Services Co Ø
Procter & Gamble Manufacturing
(Thailand) Limited Ø
Procter & Gamble Tuketim Mallari
Sanayii A.S Ø The
Procter & Gamble Company, USA Ø Procter
& Gamble (Guangzhou) Limited Ø Procter
& Gamble (Malayasia) SON BHD Ø Procter
& Gamble (Vietnam) Limited Ø
Procter & Gamble Sri Lanka Private
Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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1
60 00 000 |
Equity
shares |
Rs. 10/-each |
Rs. 160.000 millions |
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Issued, Subscribed
& Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1
12 92 247 |
Equity
shares |
Rs. 10/-each |
Rs. 112.922 millions |
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FINANCIAL
DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
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SOURCES OF FUNDS |
30.06.2005 |
30.06.2004 |
30.06.2003 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
112.922 |
112.922 |
112.900 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
564.451 |
564.450 |
46.100 |
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4] (Accumulated Losses) |
(461.978) |
(479.526) |
0.000 |
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NETWORTH
|
215.395 |
197.846 |
159.000 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
240.000 |
20.000 |
420.000 |
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TOTAL
BORROWING
|
240.000 |
20.000 |
420.000 |
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DEFERRED TAX LIABILITIES |
8.800 |
0.000 |
0.000 |
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TOTAL
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464.195 |
217.846 |
579.000 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
|
871.475 |
903.904 |
998.500 |
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Capital work-in-progress
|
2.380 |
0.171 |
0.000 |
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INVESTMENT
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0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS
|
0.000 |
50.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES
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Inventories
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337.139
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157.713 |
141.200 |
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Sundry Debtors
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96.407
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81.659 |
29.000 |
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Cash & Bank Balances
|
48.723
|
40.326 |
132.200 |
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Other Current Assets
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0.000
|
0.228 |
0.000 |
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Loans & Advances
|
272.780
|
282.554 |
581.400 |
Total Current Assets
|
755.049
|
562.480 |
883.800 |
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Less : CURRENT LIABILITIES & PROVISIONS
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Current Liabilities
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1155.313
|
1284.241 |
1276.000 |
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Provisions
|
9.396
|
14.468 |
27.300 |
Total Current Liabilities
|
1164.709
|
1298.709 |
1303.300 |
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Net Current
Assets
|
(409.660)
|
(736.229) |
(419.500) |
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MISCELLANEOUS EXPENSES
|
0.000 |
0.000 |
0.000 |
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TOTAL
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464.195 |
217.846 |
579.000 |
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PROFIT & LOSS ACCOUNT
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PARTICULARS |
30.06.2005 |
30.06.2004 |
30.06.2003 |
Sales Turnover [including other income]
|
7128.667 |
5187.010 |
3917.400 |
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Profit/(Loss) Before Tax
|
339.032 |
72.847 |
149.800 |
Provision for Taxation
|
321.484 |
10.700 |
147.600 |
Profit/(Loss) After Tax
|
17.548 |
62.147 |
2.200 |
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Export Value
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Nil |
0.425 |
NA |
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Import Value
|
20.599 |
0.616 |
NA |
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Total Expenditure
|
6789.634 |
5114.162 |
3686.200 |
KEY RATIOS
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PARTICULARS |
|
30.06.2005 |
30.06.2004 |
30.06.2003 |
PAT / Total Income
|
(%)
|
0.25
|
1.20 |
0.06 |
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Net Profit Margin
(PBT/Sales) |
(%) |
4.76
|
1.40 |
0.44 |
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Return on Total Assets
(PBT/Total Assets} |
(%) |
20.84
|
4.97 |
7.96 |
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Return on Investment (ROI)
(PBT/Networth) |
|
1.57
|
0.37 |
0.94 |
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Debt Equity Ratio
(Total Liability/Networth) |
|
6.52
|
6.67 |
10.84 |
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Current Ratio
(Current Asset/Current
Liability) |
|
0.65
|
0.43 |
0.68 |
LOCAL AGENCY FURTHER INFORMATION
Fixed Assets
Ø
Land - freehold
Ø
Land - leasehold
Ø
Buildings
Ø
Machinery and equipments
Ø
Furniture and fixtures
Ø
Computer and Office equipment
Ø
Molds and Dies
Ø
Motor vehicles
During
the year under review, Sales at Rs. 6975.500 millions were up by 40% versus Rs.
49.94.600 millions of previous year, primarily driven by value correction in
Laundry and focused commercial initiatives in Haircare category. Profit After
Tax is Rs. 17.500 millions. The net brought forward losses of the Company are
at Rs. 461.900 millions. Due to these losses, the Directors do not recommend
any dividends for the year under review.
MANAGEMENT
& PERSONNEL
Directors
take pleasure in informing that thes is the only company to be ranked in the
top 5 Business Employers since the start of the Best Employer survey in India by Hewitt Associates and CNBC TV18. In addition, the Company this year bagged the 'India's Most Admired Human Resources Department" award. Directors take this opportunity to thank the employees for their exceptional commitment, perseverance and enthusiasm in helping Company make this mark in the Industry. Directors also wish to place on record the unstinted support from the employees which enabled Company achieve leadership positions in its core businesses in spite of strong competition and present an outstanding performance.
B)
Notes to Accounts :
(a)
Contingent Liabilities .
(i)
In respect of Income Tax demands for which the company has preferred appeal t.
with appropriate authorities - Rs 14 7.8 82 millions (Previous year : Rs 1 7
0.4 49 millions)
(ii)
In respect of Sales tax matters for which the company has preferred appeals
with appropriate authorities - Rs 13 6.3 57 millions (Previous year Rs, 2 4.5
08 millions)
(iii)
In respect of Excise matters for which the company has preferred appeals with
appropriate authorities - Rs 40 7.0 98 millions (Previous year Rs, 40 7.0 98)
(iv)
In respect of cheques/bills discounted with banks - Rs Nil (Previous year Rs.
4.615 millions)
(v)
In respect of counter guarantees given to bank against guarantees given by bank
-Rs 6 75 91 635 millions (Previous year Rs, 46.1 93 millions)
At
the request of the Company, its banks have issued guarantees in the event of
the Company failing to fulfil its performance obligation under various commercial
agreements. The Company has issued counter guarantees to the banks in respect
of these guarantees.
(b)
Estimated amount of contracts remaining to be executed on capital account Rs,
3.6 75 (Previous year Rs. 0.2 28
millions)
The
Company had incurred heavy upfront marketing expenses for launch of new
products and costs for restructuring of sales and manufacturing arrangements in
prior years, consequently, substantial losses have accumulated. However, the
going concern concept is considered as applicable to the Company in view of the
profits earned in the fast three years and Company's business plans / taunch of
new products and commitments of the ultimate holding company to support the
operations of the Company
P&G Home Products
Limited is one of India's fastest growing Fast Moving Consumer Goods Companies
that has in its portfolio P&G's global brands such as Ariel and Tide in the
Fabric Care segment, and in the Hair Care segment: Head & Shoulders -
world's largest selling anti-dandruff shampoo; Pantene - world's No. 1 beauty
shampoo; and Rejoice - Asia's No. 1 shampoo.
P&G Home Products Limited is a 100% subsidiary of The Procter & Gamble
Company, USA, that in India, has carved a reputation for delivering superior
quality, value-added products to meet the needs of consumers.
Fabric Care
Procter & Gamble has two of its world-leading detergents – Tide and Ariel,
in India to cater to the main concerns of the Indian households, namely,
outstanding whiteness and stain-removal.
Hair Care
P&G’s Beauty Business is over US$ 10 Billion in Global Sales, making it one
of the world’s largest beauty companies. The P&G beauty business sells more
than 50 different beauty brands including Pantene®, Olay®, SK-II®, Max Factor®,
Cover Girl®, Joy®, Hugo Boss®, Herbal Essences® and Clairol Nice ’n’ Easy®. In
India, P&G’s beauty care business comprises of Pantene, the world’s largest
selling shampoo, Head & Shoulders, the world’s No. 1 Anti-dandruff shampoo
and Rejoice – Asia’s No. 1 Shampoo.
Procter & Gamble is committed to making every day in the lives of its
consumers better through the superior quality of its products and services.
Baby Care
In
1993, Procter & Gamble Home Products is incorporated as a 100% subsidiary
of The Procter & Gamble Company, USA. Procter & Gamble Home Products
launches Ariel Super Soaker.
In 1993, Procter & Gamble India divests the Detergents business to Procter
& Gamble Home Products.
In 1995, Procter & Gamble Home Products enters the Haircare Category with
the launch of Pantene Pro-V.
In 1997 Procter & Gamble Home Products launches Head & Shoulders
shampoo.
In 2000, Procter & Gamble Home Products introduced Tide Detergent Powder -
the largest selling detergent in the world.
In June 2000, Procter & Gamble Home Products Limited launched Pantene
Lively Clean its unique Pro-Vitamin formula cleans oil-build up, dirt and grime
in just one wash, delivering lively, free-flowing and sparkling-clean hair.
In August 2000, Procter & Gamble Home Products Limited launched New Ariel
Power Compact detergent with a new global technology that breathes new life
into clothes, by removing dinginess from them and restoring the original colors
of the fabric, by detecting and removing deposits which are left behind from
successive washes.
In November 2000, Procter & Gamble Home Products Limited presented India in
the first International Hair Styling and Beauty Expert Contest- Hair Asia
Pacific 2000 in collaboration with Sri Lankan Association of Hairdressers and
Beautician.
During this period, Procter & Gamble Home Products also re-launched the
international range of Head & Shoulders, best-ever Anti-dandruff shampoo
with an improved formula, new pack-design and logo, in three variants - Clean
& Balanced, Smooth & Silky and Refreshing Menthol, which offers the
fine combination of anti-dandruff efficacy and hair conditioning.
In January 2001, Procter & Gamble Home Products Limited and Whirlpool India
Ltd. launched a special 'Ariel - Whirlpool Superwash' offer, making washing
machines more affordable to the people of Hyderabad. On purchase of either a
500gms, 1kg or 1.5kg economy pack of New Ariel Power Compact, consumers are
automatically eligible to buy a Whirlpool Washing Machine for as low as
Rs.238/- in Equal Monthly Installments for 24 months, by filling in the
application form that comes with the Ariel pack and contacting any one of the
Whirlpool dealers mentioned on the pack.
In June 2001, Procter & Gamble in partnership with the Association of
Beauty Therapy & Cosmetology (ABTC), India hosted the Pantene Artist 2001 a
national stylist competition, which included categories such as Bridal
Dressing, Hair Cutting and Body Painting. Present at the event was
world-renowned hairdresser and stylist Jun L. Encarnecion, who demonstrated the
hottest international haircuts and styles in vogue via an interesting hairhsow.
Mr. Encarnecion has trained students in leading hairdressing schools like
Robert Fielding School of Hair Dressing (U.K), Pierre Alexander International
Academy (U.K), Vidal Sassoon Academy, (U.S.A) among others and also enjoys the
reputation of being the official hairdresser for the 1993 Miss Universe
pageant.
In July 2001, Procter & Gamble Home Products Limited launched New Ariel
Total Compact with Magicare a New System of Washing that completely removes
stains without scrubbing, significantly reducing time spent on washing clothes.
In September 2001, Procter & Gamble Home Products launched New Pantene
Pro-V range of five shampoos in India which gave consumers the look they want
Smooth & Silky for straighter hair, Volume & Fullness for thicker hair,
Balanced Clean for shinier hair, Lively Clean for livelier hair and
Anti-Dandruff for dandruff-free hair.
In December 2001, Procter & Gamble in partnership with the Southern India
Beauty Specialists & Hairdressers Association (SIBHA) hosted the
Pantene-SIBHA Look N Learn Seminar where Raman Bhardwaj hairdresser to former
Miss India, Celina Jaitley demonstrated the Latest and Trendiest Hair Cuts (Modern
& Classic) to beauticians and hairdressers in Chennai.
In April 2002, Procter & Gamble Home Products Limited announced the launch
of a special Ariel Bar Refund Offer along with its new Advanced Ariel Compact.
Under the Ariel Bar Refund Offer, consumers could exchange their detergent bar
on purchase of Advanced Ariel Compacts 1kg and 500gms packs, and avail of a
Rs.15 and Rs.7 discount respectively on MRP.
Additionally, Procter & Gamble Home Products announced the Beat The Summer
Dandruff offer on which 200ml Head & Shoulders bottle was available for
Rs.99/- only, thus giving a benefit of a Rs.23/- discount to consumers.
In August 2002, Pantene unveiled the launch of the Shine Morning to Night
campaign that helps consumers get long lasting hair shine with regular use of
Pantene. The Shine Morning to Night campaign had two exciting components to it
The MTV Shine The Soul contest where one could win diamonds worth Rs.12.5 lacs
and the launch of the Pantene Shine Booths across the country to help achieve
the shine that lasts from morning to night.
During the same period, Pantene also hosted Hair Asia Pacific 2002 the biggest
Hair Cutting & Styling event in Kuala Lumpur, Malaysia. Pantene Hair Asia
Pacific is a prestigious international hair cutting & styling contest
attracting expert hairdressers and beauty care advisors from more than 13 Asia
Pacific countries.
Additionally, Pantene also hosted Pantene World Teen Queen contest in Goa.
Contestants from UK, USA, South Africa, Kenya, Tanzania, Mauritius, Middle East
and Hong Kong participated to win the coveted World Teen Queen crown.
In November 2002, Procter & Gamble Home Products Limited launched Head
& Shoulders Naturally Clean, a new variant in its Head & Shoulders
range of Shampoos especially for Tamil Nadu, Kerala, Andhra Pradesh, Karnataka
and West Bengal. Its Smart ZPT combined with Natural Citrus (lemon) extracts
removes 100% dandruff and rinses oil and stickiness from the scalp, giving
light, loose, free flowing hair.
In January 2003, Procter & Gamble Home Products Limited reduced the prices
of Pantene and Head & Shoulders 7.5ml sachets from Rs. 4/- to Rs. 3/-, with
no change in its superior product-quality or packaging, improving affordability
to a large number of Indian consumers.
Procter & Gamble Home Products Limited also announced the launch of its
Tide Super Whiteness Gold Dhamaka at the Tide Junction in Giant Hypermarket,
Hyderabad. The Tide Super Whiteness Gold Dhamaka gave consumers a chance to get
their clothes super-white and Win an Exquisite Handcrafted Pure Gold Jewellery
Set worth Rs.25,000 and other prizes from Estelle Jewellery.
In June 2003, Procter & Gamble Home Products Limited launched Pampers -
world’s number one selling diaper brand with sales of US$ 6 billion annually.
Pampers provides superior dryness for uninterrupted overnight sleep, with just
one pampers diaper. In India, Pampers Fresh & Dry is available in a variety
of three sizes – 4s, 10s and 25s.
In July 2003, Procter & Gamble Home Products Limited launched Pantene Long
Black, the ultimate solution for achieving the Long and Black hair look, and
Head & Shoulders Silky Black - the only shampoo in India to offer the dual
benefits of 100% dandruff-free as well as silky black hair.
In September 2003, Procter & Gamble Home Products Limited announced that
its superior quality Tide sachet is now available at Re. 1 per sachet and its
Ariel sachet at Rs. 2 per sachet, thus making the world’s best detergents
available at lower prices.
In January 2004, Procter & Gamble Home Products Limited announced the
launch of Rejoice – Asia’s No. 1 shampoo, in India. Rejoice’s patented
Micro-Silicone conditioning technology gives twice as smooth, and easy to comb
hair versus ordinary shampoos, at affordable prices in 100 ml bottles and 7.5
ml sachets.
In March 2004, Procter & Gamble Home Products Limited reduced the prices of
Ariel and Tide bags (large packs) by 20-50%, while maintaining the superior
quality. The superior quality one kg pack of Tide now cleans a family’s one month
laundry in just Rs.23/-, while a one kg pack of Ariel cleans a family’s one
month laundry in just Rs.50/-.
In April 2004, Procter & Gamble Home Products Limited announced the launch
of Pantene Hair Fall Control, which is designed to free women of their hair
fall concerns by reducing hair fall due to breakage by up to 50% within just
two months, thus giving them stronger, thicker looking and beautiful hair. The
prices of Pantene 100ml and 200ml bottles were reduced by 16%, offering
superior value to consumers.
In August 2004, Procter & Gamble Home Products Limited signed Preity Zinta
– Bollywood's #1 Actress, as Brand Ambassador for its Head & Shoulders
anti-dandruff shampoo that gives 100% dandruff-free soft beautiful hair.
In October 2004, Procter & Gamble Home Products Limited launched New
Pantene Amino Pro-V Complex shampoos, which makes hair ten times stronger.
In November 2004, Procter & Gamble Home Products Limited launched New Tide
Bar. The New Tide Bar is unique as compared to the available detergent bars
because of its three unique features: (i) It has green speckles called
Whiteons, which release a unique whitening action on reacting with sunlight;
(ii) Its technology also ensures that it lasts longer, does not dissolve easily
and delivers a good balance between bar-hardness and ease of application on
clothes and; (iii) It has a lemony & refreshing fragrance that lingers on
clothes hours after wash.
The company will provide branded products and services of superior
quality and value that improve the lives of the world's consumers. As a result,
consumers will reward us with leadership sales, profit, and value creation,
allowing our people, our shareholders, and the communities in which the company
live and work to prosper.
Values
P&G is its
people and the values by which the company live.
The company attract and recruit the finest people in the world. The company
build our organization from within, promoting and rewarding people without
regard to any difference unrelated to performance. The company act on the
conviction that the men and women of Procter & Gamble will always be our
most important asset.
LEADERSHIP:
The companies are all leaders in our area of responsibility, with a deep
commitment to deliver leadership results.
The companies have a clear vision of where the company are going.
The companies focus our resources to achieve leadership objectives and
strategies.
The companies develop the capability to deliver our strategies and
eliminate organizational barriers.
OWNERSHIP:
The companies accept personal accountability to meet our business needs,
improve our systems, and help others improve their effectiveness.
The company all act like owners, treating the Company's
assets as our own and behaving with the Company's long-term success in mind.
INTEGRITY
The companies always try to do the right thing.
The companies are honest and straightforward with each other.
The companies operate within the letter and spirit of the law.
The companies uphold the values and principles of P&G in every
action and decision.
The companies are data-based and intellectually honest in advocating
proposals, including recognizing risks.
PASSION FOR WINNING
The companies are determined to be the best at doing what matters most.
The company has a healthy dissatisfaction with the status quo.
The company has a compelling desire to improve and to win in the
marketplace.
TRUST
The company respects our P&G colleagues, customers, and consumers,
and treat them as the company want to be treated.
The company has confidence in each other's capabilities and intentions.
The company believes that people work best when there is a foundation of
trust.
Principles
The company Show Respect for All Individuals
The company believes that all individuals can and want to contribute to
their fullest potential.
The company value differences.
The company inspires and enable people to achieve high expectations,
standards, and challenging goals.
The company is honest with people about their performance.
The Interests of the Company and the Individual Are Inseparable
The company believes that doing what is right for the business with
integrity will lead to mutual success for both the Company and the individual.
Our quest for mutual success ties us together.
The company encourages stock ownership and ownership behavior.
The company Are Strategically Focused in Our Work
The company operates against clearly articulated and aligned objectives
and strategies.
The company only do work and only ask for work that adds value to the business.
The company simplify, standardize, and streamline our current work
whenever possible.
The company Value Personal Mastery
The company believes it is the responsibility of all individuals to
continually develop themselves and others.
The company encourages and expect outstanding technical mastery and
executional excellence.
The company Seek to Be the Best
The company strives to be the best in all areas of strategic importance
to the Company.
The company benchmarks our performance rigorously versus the very best
internally and externally.
The company learns from both our successes and our failures.
Innovation Is the Cornerstone of Our Success
The company place great value on big, new consumer innovations.
The company challenge convention and reinvent the way the company do
business to better win in the marketplace.
Mutual Interdependency Is a Way of Life
The company work together with confidence and trust across business
units, functions, categories, and geographies.
The company takes pride in results from reapplying others' ideas.
The company build superior relationships with all the parties who
contribute to fulfilling our Corporate Purpose, including our customers,
suppliers, universities, and governments.
The company Are Externally Focused
The company develops superior understanding of consumers and their
needs.
The company creates and deliver products, packaging, and concepts that
build winning brand equities.
The company develops close, mutually productive relationships with our
customers and our suppliers.
The company is good corporate citizens.
At P&G, Social Responsibility stems from our
Corporate PVP (Purpose, Values, Principles). Social Projects are in keeping
with P&G’s credo of ‘Business With a Purpose’. P&G has always demonstrated
its commitment to the community not just through the quality of its products
and services, but also through socially responsible initiatives for the
community. The company believes in building the community in which the company
live and operate by supporting its ongoing development.
Project Shiksha II: Educating Underprivileged Children
Project Shiksha: Secure The Child’s Future (2003)
Rebuilding Lives In Earthquake Hit Bhuj (2001/2002)
Project Poshan: Fighting Malnutrition in India (2000)
Project Open Minds: Educating India’s Working Youth
(1999)
Project Drishti: The First-ever Sight Restoration
Programme in India (1999)
Project Future Focus: The First-Ever Round Write-In
Career Guidance Service (1998)
Project Peace: Environment Education Programme (1996)
Consumer
Feedback : intouch.im@pg.com
91-22-24942113
Career
Questions : recindia.im@pg.com
News
Media Inquiries : Shweta Shukla
91-22-28266000
Mumbai, September 20,
2005: Do you believe in
adapting the best of traditional values even while keeping up with the fast changing, evolving life style?
When it comes to hair, do you wish you could regularly oil
the hair but seldom find the time from
the busy schedule to take care of the tresses? Recognizing this need of the
new-age, evolving Indian woman, and in
keeping with her busy life style, Pantene® has launched the one-step solution -
New
Pantene Shampoo with
Goodness of Coconut Oil which makes hair strong against damage with regular use.
New Pantene with its Micro-Vita
technology ensures optimized conditioning to suit varied Indian hair
care needs and provides conditioning
benefits similar to Coconut Oil - as it penetrates deep into the roots,
strengthens each strand against damage,
giving smoother, shinier and stronger hair against damage. Extensive
research conducted by P&G on “Evolving Life styles and Hair care
practices in India” revealed that
with the new-age busy and hectic life styles, women are increasingly
getting concerned about deterioration
of their hair, specifically about aspects like: Appearance (a loss
in shine, especially towards the ends), Physical Properties (a loss in hair strength and resilience), and Behavior
(a loss in flexibility and the ability of the hair to form and maintain the desired style). Several factors conspire to
inflict damage to our hair, such as: environmental
(such as pollution and UV damage), mechanical (e.g.
excessive brushing or combing), thermal(e.g.
excessive use of blow dryer, curling tongs, straightening irons), or chemical
(e.g. coloring, relaxing and
perming. Thus, the quality of hair starts to deteriorate resulting in less
resilient, weaker hair that
loses its shine. This has
increased the awareness and necessity for high conditioning and 9 out of 10
Indian women prefer to use oil on a regular basis as a hair conditioner. However,
the hectic multi tasking between their home and work leaves them with little
time to oil their hair regularly, leave it on for a few hours and then wash it.
This is one of the key causes that lead to lack of conditioning. This insight
based on specific needs of the
Indian consumer led P&G
to develop New Pantene with Goodness of Coconut Oil which has the
conditioning benefits similar to Coconut Oil as it penetrates deep into the
roots, strengthens each strand against damage, giving smoother, shinier and
stronger hair against damage.New Pantene with the Goodness of Coconut Oil was
launched by Former Miss Universe, leading Bollywood actor and now Pantene
Brand Ambassador Lara Dutta. Commenting on her new role, Lara Dutta said, “I
am delighted to
be the face of the World’s
No. 1 Shampoo, and launch New Pantene with the goodness of Coconut Oil in
India. New Pantene with Micro-Vita Technology provides smoother,
shinier and stronger hair similar to coconut oil and is the perfect
solution for people like me who are constantly on the move and have little or
no time for regular oiling! I urge the women of India to experience the goodness
of coconut oil via this simple one step process of shampooing hair with New
Pantene!”Giving perspective on the
signing of Lara Dutta as Brand Ambassador for Pantene, Mr. Rahul Malhotra,
Associate Marketing Director (P&G) said, “Pantene has always believed
that only hair that is strong from inside, looks beautiful from the outside.
Likewise, Lara is a beauty icon who radiates inner strength too – be it through
her being crowned Miss Universe, her role as Global UN Ambassador or her belief
in fitness and nutrition and therefore is a true embodiment of Pantene’s
character and its promise to consumers. Lara will communicate
the benefit of New Pantene
with the Goodness of Coconut Oil which gives strong hair. With this new
campaign, Lara joins Pantene’s illustrious league of past celebrity endorsers
in India such as Katrina Kaif, Bipasha Basu, Shilpa Shetty, Sonali Bendre,
Simone Singh among others.”
Sharing perspective on the
launch of New Pantene, Dr. Colin D’Silva, P&G Beauty Scientist added, “In
our quest to provide the evolving Indian woman the best of traditional hair
care without making it time-consuming for her, the company have launched New
Pantene shampoo with benefits that are similar to the conditioning
benefits provided by coconut oil. Our technical tests demonstrate that New
Pantene with Goodness of Coconut Oil provides multiple conditioning benefits to
the hair including shine, softness, smoothness & manageability. And most
importantly, it makes hair
stronger against damage.”
To educate consumers on the
benefits of the New Pantene with Goodness of Coconut Oil, P&G has
launched Pantene Strength
Stations in Mumbai. Pantene Strength Stations are hair care
booths and the one-stop solution to
every tress concern. Pantene Hair care experts present at each station conduct
hair strength tests with the proprietary Pantene ‘Microscope Hair Check’. This
allows consumers to witness the strengths and weaknesses
of their hair ‘live &
magnifies’ on a monitor placed at each Pantene Strength Station. The Pantene
‘Microscope Hair Check’ tests the
health of the hair based on five parameters: (i) Roughness (ii) Uniform
Thickness (iii) Dryness (iv) Split
ends; and (v) Dandruff. Based on the test results, the Pantene Hair Expert
provides customized solutions and recommends
the right variant from the New Pantene range to suit individual hair care needs
and get
strong, beautiful hair. Lara
Dutta also inaugurated the Pantene Strength Stations by taking on the Pantene
Strength Challenge herself in Mumbai at the Cross Roads Mall and urged
consumers to take the test to improve their hair strength with New Pantene.
Over the next few weeks, the Pantene Strength Stations will also be
launched in In Orbit Mall, Malad.
Look out for the New Pantene®
Range with Goodness of Coconut Oil in five variants to meet the individual hair
care needs:
? Pantene Smooth &
Silky for Healthy, Shiny, Straight Look - Helps smoothe roughness,
straighten hair, reduce frizz, and keep hair sleek and shiny
? Pantene Hair Fall
Control for Stronger more Beautiful Hair - Reduces Hair Fall due to
breakage by up to 50% within just Two
Months,
?Pantene Long Black for
the Long and Black Hair Look - Darkens each strand of hair uniformly from root
to tip through intense moisturization
?Pantene Lively Clean for
Healthy, Lively, Grime-free Hair - Transforms dull, oily, grimy and weighted
down hair to lively, healthy hair
? Pantene Anti-dandruff
for Dandruff-free Scalp and twice as strong hair - Helps you
prevent the recurrence of dandruff while making hair strong and soft The New
Pantene® is available at general and chemists stores across India and continues
to be priced at Rs. 98 for a 200ml.
bottle, Rs. 51 for a 100ml. bottle, and Rs. 3 for a 7.5ml sachet.
-- x --
About P&G Beauty Care
P&G’s Beauty Business is
over US$ 10 Billion in Global Sales, making it one of the world’s largest
beauty companies. The P&G beauty
business sells more than 50 different beauty brands including Pantene®, Olay®,
SK-II®, Max Factor®, Cover Girl®, Joy®,
Hugo Boss®, Herbal Essences® and Clairol Nice ’n’ Easy®. In India, P&G’s
beauty care business comprises of Head
& Shoulders - the world’s No. 1 anti-dandruff shampoo, Pantene - the
world’s
no. 1 shampoo, and Rejoice – Asia’s No. 1 shampoo.
ABOUT P&G INDIA P&G India is one of India’s fastest growing Fast
Moving Consumer Goods Companies that has in its portfolio P&G's Billion dollar brands such as Tide, Ariel,
Pantene, Whisper, Pampers, Head & Shoulders, and leading brands such as Rejoice – Asia’s No. 1 Shampoo, and Vicks
– India’s No. 1 OTC Brand. A Company with employee strength of
500, P&G takes pride in
being consistently voted among India’s Best Employers. P&G is committed to
making every day in the lives of its
consumers better through the superior quality of its products. For more
information log on to www.pg.com/India.
For more information
contact:
Shweta Shukla
Procter & Gamble
+91 22 2826 7341
Michelle
D’Souza / Anamika Rathi
Madison
Public Relations
2826
6000 Ext: 7130 / 98925 25625 / 9892923246
P&G
announces Inter-Company Transfer of its Detergents’ Manufacturing
Business
July
11, 2005: At
a Board Meeting held today, the Board of Directors of Procter & Gamble Hygiene & Health Care Limited (PGHH)
recommended transfer by way of sale of its detergent manufacturing business
(comprising of land, building, plant & machinery and other assets at its
Mandideep Plant situated in District Raisen, Madhya Pradesh) to Procter & Gamble Home Products Limited
(PGHP) – a fully owned subsidiary of The
Procter & Gamble Company (P&G) USA, for a consideration
of Rs. 101 crores, i.e. Rs. 389.0
millions towards tangible and intangible assets of the detergent
manufacturing business; and Rs. 625.0
millions being the value of the inventory of raw material and finished goods –
which may vary according to the inventory on hand on the date of transfer. The sale is not expected to have a
significant impact on PGHH’s profits.
P&G is present in India
via two companies: PGHH, whose core
categories are Feminine Hygiene (i.e. the Whisper range of feminine protection
products), and Health Care (i.e. the
Vicks range of cough and cold remedies); and PGHP, whose core categories
include
Hair
Care (i.e. Rejoice, Pantene and Head & Shoulders range of shampoos), and
Fabric
Care
(i.e. Ariel and Tide detergents).
Mr.
Bharat Patel, Non Executive Chairman, PGHH commented, “The transfer via
sale will
benefit
PGHH in three ways: reduce complexities, ensure that each company is
focused
on
growing its core categories; and in effect, free up Rs. 1010 millions of cash
for
productive
use in PGHH’s core businesses and for augmenting company’s distributable
profi
s.”
The
Company will also transfer its employees together with severance liability to
PGHP, which will protect the present
terms and conditions of employment of these employees.
As
the transfer of business is between two subsidiaries of P&G,
USA, the Company has
taken
three steps to arrive at a fair value for transfer of the detergent
manufacturing
business:
one, Company obtained an item-wise market valuation of the assets of the
said
detergent plant from a reputed Consultant & Valuer, Radbin Consultants
Private
Limited;
two, Company obtained Fair Valuation of the detergent business from
Bansi S.
Mehta
& Co., Chartered Accountants; three, the Company has also obtained an
Opinion
from
a leading merchant banker, Lazard India Private Limited, who have
reaffirmed fair
valuation
carried out by Bansi S. Mehta & Company.
The
proposed transfer of business, i.e., an undertaking, requires approval of shareholders, under the Companies
Act, 1956 (Act), which will shortly be sought by means of a postal ballot. Upon approval of the shareholders and
the concerned Authorities, the transfer
by way of sale or otherwise of the said detergent manufacturing business is
expected to be effective from October 1, 2005.
For more information,
please contact:
Shweta Shukla
Procter & Gamble
+91 22 2826 7341
shukla.s@pg.com
CMT REPORT [Corruption, Money laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts, India Prisons Service, Interpol, etc.
1] INFORMATION
ON DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.
2] Court
Declaration :
No records exist to suggest that subject is or was the
subject of any formal or informal allegations, prosecutions or other official
proceeding for making any prohibited payments or other improper payments to
government officials for engaging in prohibited transactions or with designated
parties.
3] Asset
Declaration :
No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.
4] Record
on Financial Crime :
Charges or conviction registered
against subject: None
5] Records
on Violation of Anti-Corruption Laws :
Charges or investigation registered
against subject: None
6] Records
on Int’l Anti-Money Laundering Laws/Standards :
Charges or investigation registered
against subject: None
7] Criminal
Records
No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.
8] Affiliation
with Government :
No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.
9] Compensation
Package :
Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.
10] Press Report :
No press reports / filings exists on the subject.
CORPORATE
GOVERNANCE
MIRA
INFORM as part of its Due Diligence do provide comments on Corporate Governance
to identify management and governance. These factors often have been predictive
and in some cases have created vulnerabilities to credit deterioration.
Our
Governance Assessment focuses principally on the interactions between a
company’s management, its Board of Directors, Shareholders and other financial
stakeholders.
CONTRAVENTION
Subject
is not known to have contravened any existing local laws, regulations or
policies that prohibit, restrict or otherwise affect the terms and conditions
that could be included in the agreement with the subject.
FOREIGN
EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US
Dollar |
1 |
Rs. 44.88 |
|
UK
Pound |
1 |
Rs. 83.07 |
|
Euro |
1 |
Rs. 56.94 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
44 |
This score
serves as a reference to assess SC’s credit risk and to set the amount of
credit to be extended. It is calculated from a composite of weighted scores
obtained from each of the major sections of this report. The assessed factors
and their relative weights (as indicated through %) are as follows:
Financial condition (40%) Ownership background (20%) Payment record (10%)
Credit history (10%) Market trend (10%) Operational
size (10%)
RATING
|
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely
sound financial base with the strongest capability for timely payment of
interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate
working capital. No caution needed for credit transaction. It has above
average (strong) capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial &
operational base are regarded healthy. General unfavourable factors will not
cause fatal effect. Satisfactory capability for payment of interest and
principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are
apparent. Repayment of interest and principal sums in default or expected to
be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk
exists. Caution needed to be exercised |
Credit not recommended |