MIRA INFORM REPORT

Report Date :

28.12.2013

IDENTIFICATION DETAILS

Name :	HINDUSTAN UNILEVER LIMITED
Registered Office :	Unilever House, B D Sawant Marg, Chakala Andheri (East), Mumbai – 400099, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	17.10.1933
Com. Reg. No.:	11-002030
Capital Investment / Paid-up Capital :	Rs. 2162.500 Millions
CIN No.: [Company Identification No.]	L15140MH1933PLC002030
TAN No.: [Tax Deduction & Collection Account No.]	MUMH05398B / PNEH04468C
PAN No.: [Permanent Account No.]	AAACH1004N
Legal Form :	A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.
Line of Business :	manufacturing and marketing of Consumer Products like Soaps and Detergents, Personal Products, Beverages, Packaged Foods, Others etc.
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

Aa (81)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 106960000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Exist
Comments :	Hindustan Unilever is a well-established, professionally managed and a reputed company having good track. It is the country’s largest consumer products company. The company’s products are well received in and outside India. Financial position of the company appears to be strong and healthy. Payments are always regular and as per commitments. The company can be considered good for normal business dealings under usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

INDIAN ECONOMIC OVERVIEW

India’s current account deficit narrowed in the quarter ended September as government measures to curb imports, especially gold, kicked in.  The current account deficit, the excess of a country’s imports of goods and services over exports, narrowed to $ 5.2 billion from $ 21 billion in the year ago period, according to provisional Reserve Bank of India data. Finance Minister P. Chidambaram said the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and the latest data suggests the government may achieve the target.

India was ranked 94^th among the world’s most corrupt nations list. Denmark and New Zealand topped as the cleanest while Somalia emerged as the most corrupt.

India’s services sector activity witnessed a moderate improvement in November over the previous month, even while indicating the fifth successive monthly contraction, according the HSBC survey.

$53 million estimated losses suffered by India due to phishing attacks during the third quarter, according to a study by RSA. India ranks fourth in the list of nations hit by phishing attacks. The US remained at the top of the charts. Phishing is the process of acquiring information such as user names, passwords and credit card details by sending e-mails disguised as official mails.

Rs.4080 million worth of mobile-phone-based transactions by July 2013 compared to Rs.260 million in September, 2012, according to Deloitte report. The number of transactions has shot up from 94000 to 701000.

India aims to earn Rs.400000 million from the bandwidth auction set for January. The merger and acquisition guidelines, cleared by a group of ministers, will be out before the auction begins so that players can make informed decisions on the auctions.

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long term rating : AAA
Rating Explanation	Highest degree of safety and lowest credit risk.
Date	January 22, 2013

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

INFORMATION DECLINED

MANAGEMENT NON-COOPERATIVE

[CONTACT NO.: 91-22-39830000]

LOCATIONS

Registered Office :	Unilever House, B D Sawant Marg, Chakala Andheri (East), Mumbai – 400099, Maharashtra, India
Tel. No.:	91-22-39832429/ 39832285/ 32452
Fax No.:	91-22-39832413/ 28249457
E-Mail :	comsec.hul@unilever.com
Website :	http://www.hul.co.in
Plants :
NORTHERN REGION
LOCATION	ADDRESS
BAROTIWALA	Khasra No. 94-96, 355-409, Village Balyana, Barotiwala IA, Tehsil Kasauli, District Solan - 174103, Himachal Pradesh, India
ETAH	G. T. Road, Etah – 207001, Uttar Pradesh, India
HARIDWAR	Plot No. 1, Sector 1A, Integrated Industrial Estate, Ranipur, Haridwar - 249403, Uttaranchal, India
NALAGARH	· Hudbust No. 143, Khasra No. 182, 183, 187/1, Village - Kiralpur, Tehsil - Nalagarh, District Solan - 174101, Himachal Pradesh, India Khasra No. 1350 – 1318, Bhatoli Kalan, Hill Top Industrial Area, Jharmajri, Tehsil Nalagarh, District Solan - 173295, Himachal Pradesh, India
ORAI	A-1, Industrial Area, UPSIDC, Orai, Jalaun - 285001, Uttar Pradesh, India
RAJPURA	A-5, Phase ll-B, Focal Point, Rajpura - 140401, Punjab, India
SUMERPUR	A-1, UPSIDC Industrial Area, Bharua, Sumerpur, Hamirpur - 210502, Uttar Pradesh, India
SOUTHERN REGION
COCHIN	· Tatapuram PO, Cochin – 682014, Kerala, India Edapally, Cochin – 682024, Kerala, India
HYDERABAD	Uppal Kalan, Hyderabad – 500039, Andhra Pradesh, India
CHENNAI	C.P.T. Campus, Tharamani, Chennai – 600113, Tamilnadu, India
HOSUR	Plot No.50 & 51, SIPCOT Industrial Complex, Hosur - 635109, Tamilnadu, India
BANGALORE	Suburb Stage-II, Yashwantpur, Bangalore – 560022, Karnataka, India
MANGALORE	Sultan Batter Road, Boloor, Mangalore – 575003, Karnataka, India
MYSORE	Plot No. 424, Hebbal Industrial Area, Mysore – 570016, Karnataka, India
PONDICHERRY	· Off NH 45-A, Vadamangalam, Pondicherry - 605102, India No. 3, Cuddalore Road, Kirumambakkam, Pondicherry – 607402, India
EASTERN REGION
TINSUKIA	Dag No. 21 of 122 FS Grants, Mouza - Tingrai, Off NH No. 37, Doom Dooma Industrial Estate, Tinsukia - 786151, Assam, India
HALDIA	PO Durgachak, Haldia - 721602,Midnapore, West Bengal, India
KOLKATA	· 1, Transport Depot Road, Kolkata - 700088, West Bengal, India 63, Garden Reach, Kolkata - 700024, West Bengal, India P10 Taratola Road, Kolkata - 700088, West Bengal, India
WESTERN REGION
KHAMGAON	C-9, MIDC, Khamgaon - 444303, District Buldhana, Maharashtra, India
CHHINDWARA	5/6 KM Stone, Narsinghpur Road, Lehgadua, Chhindwara - 480002, Madhya Pradesh, India
CHIPLUN	Plot No. B-7, Lote Parshuram MIDC, Khed Taluka, District Ratnagiri, Chiplun – 415722, Maharashtra, India
GOA	Plot Nos. 132-139, Kundaim Industrial Estate, Kundaim, Goa – 403115, India
MUMBAI	Aarey Milk Colony, Goregaon, Mumbai – 400065, Maharashtra, India
NASIK	Plot No. A 8/9, MIDC, Malegaon, Sinnar - 422103, Maharashtra, India
SILVASSA	Survey No.151/1/1, Village Dapada, Khanvel Road, Silvassa - 396230, India Survey No. 907, Kilwali Road, Amli Village, Near Gandhidham Bus Stop, Silvassa – 396230, India Orient Press Complex, Survey No. 297/1/2, Dungrapada, Village Saily, Silvassa - 396230, India Survey No. 46/11, Plot No 16, Naroli Road, Village Athal, Silvassa – 396230, India
Overseas Customer Service Centers :	Located at: · 300, Upper Richmond Road West, London SW 14, 7GJ, United Kingdom. Tel. No. 01 878 5254 Fax No. 01 879 1839 Telex : 918112 · 303, 5^th Avenue, Suite 709, New York 10016, U.S.A Tel. No. 212 725 0679 Fax No. 212 725 0718 Telex : 220715 · Suite 507, Akasaka Q Building, 7-9-5, Akasaka, Minato-Ku, Tokyo, Japan – 107 Tel. No. 03 583 1225 Fax No. 03 505 0541 Telex : 2423450
Major Operating Units At:	Located at: · Sewree, Mumbai, Maharashtra, India · Andheri, Mumbai, Maharashtra, India · Taloja, Maharashtra, India · Garden Reach, Kolkata, West Bengal, India · Shamnagar, West Bengal, India · Bari Brahmana, Jammu, India · Haldia, Gujarat, India · Plot No. 254, Sector IV, Special Economic Zone, Kandla, Gujarat, India · Chindwara, Madhya Pradesh, India · Pondichery, Tamil Nadu, India · Yavatmal, Maharashtra, India · Pune, Maharashtra, India
Branch Office :	123, G. N. Chetty Road, T. Nagar, Chennai – 600017, Tamilnadu, India

DIRECTORS

AS ON 31.03.2013

Name :	Mr. Harish Manwani
Designation :	Chairman
Date of Birth/ Age :	59 Years
Directorship in other Companies :	· Indian School of Business Whirlpool Corporation
Name :	Mr. Nitin Paranjpe
Designation :	Managing Director and Chief Executive Officer
Date of Birth/ Age :	50 Years
Directorship in other Companies :	· Kimberly Clark Lever Private Limited Hindustan Unilever Foundation Bhavishya Alliance Child Nutrition Initiatives Bombay Chamber of Commerce & Industry Breach Candy Hospital Trust Federation of Indian Chamber of Commerce and Industry
Name :	Mr. Sridhar Ramamurthy
Designation :	Executive Director, Finance and IT and Chief Financial Officer
Date of Birth/ Age :	48 Years
Directorship in other Companies :	· Unilever India Exports Limited Pond’s Exports Limited Hindustan Unilever Foundation
Name :	Mr. Pradeep Banerjee
Designation :	Executive Director, Supply Chain
Name :	Mr. A. Narayan
Designation :	Independent Director
Date of Birth/ Age :	61 Years
Directorship in other Companies :	· LIC Nomura Mutual Fund Asset Management Company Limited Linde India Limited
Name :	Mr. S. Ramadorai
Designation :	Independent Director
Date of Birth/ Age :	68 Years
Directorship in other Companies :	· Tata Consultancy Services Limited Tata Industries Limited Tata Technologies Limited CMC Limited Piramal Enterprises Limited Tata Elxsi Limited Tata Teleservices (Maharashtra) Limited Tata Communications Limited Tata Advanced Systems Limited Asian Paints Limited BSE Limited Tata Lockheed Martin Aerostructures Limited Tara Aerospace Systems Limited Tata Communication International Pte. Limited Tata America International Corporation Tata Elxsi (Singapore) Pte. Limited Computational Research Laboratories Inc. Breach Candy Hospital Trust
Name :	Mr. R A Mashelkar
Designation :	Independent Director
Name :	Mr. O.P. Bhatt
Designation :	Independent Director
Date of Birth/ Age :	62 Years
Directorship in other Companies :	· Oil and Natural Gas Corporation Limited Tata Consultancy Services Limited Standard Chartered PLC
Name :	Dr. Sanjiv Misra
Designation :	Independent Director
Date of Birth/ Age :	65 Years
Directorship in other Companies :	· Akzo Nobel India Limited BSE Limited Axis Bank Limited

KEY EXECUTIVES

MANAGEMENT COMMITTEE
Name :	Mr. Nitin Paranjpe
Designation :	Managing Director and Chief Executive Officer
Name :	Mr. Sridhar Ramamurthy
Designation :	Executive Director, Finance and IT and Chief Financial Officer
Name :	Mr. Hemant Bakshi
Designation :	Executive Director, Home and Personal Care
Name :	Mr. Pradeep Banerjee
Designation :	Executive Director, Supply Chain
Name :	Mr. Dev Bajpai
Designation :	Executive Director and Company Secretary
Name :	Ms. Geetu Verma
Designation :	Executive Director, Foods
Name :	Mr. Manish Tiwary
Designation :	Executive Director, Sales and Customer Development
Name :	Mr. B. P. Biddappa
Designation :	Executive Director and Human Resources

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2013

NOTE: SHAREHOLDING PATTERN FILE ATTACHED

BUSINESS DETAILS

Line of Business :

manufacturing and marketing of Consumer Products like Soaps and Detergents, Personal Products, Beverages, Packaged Foods, Others etc.

Products/ Services :

ITC Code No.	Product Descriptions
37.01	Soap
34.02	Detergents
09.02	Tea

GENERAL INFORMATION

No. of Employees :	Information declined by the management
Bankers :	· Bank of America Bank of Baroda Bank of India Citibank N.A. Deutsché Bank HDFC Bank Hongkong & Shanghai Banking Corporation ICICI Bank Indian Bank Punjab National Bank Royal Bank of Scotland Standard Chartered Bank State Bank of Hyderabad State Bank of India Syndicate Bank Union Bank of India

Banking Relations :	--
Auditors :
Name :	Lovelock and Lewes Chartered Accountants
Address :	Mumbai, Maharashtra, India
Solicitors :
Name :	Crawford Bayley and Company
Address :	Mumbai, Maharashtra, India
Holding Company :	Unilever PLC
Subsidiaries (Extent of holding) :	· Brooke Bond Real Estates Private Limited (100%) Daverashola Estates Private Limited (100%) Hindlever Trust Limited (100%) Jamnagar Properties Private Limited (100%) Lakme Lever Private Limited (100%) Levers Associated Trust Limited (100%) Levindra Trust Limited (100%) Pond's Exports Limited (90%)(with effect from 18th November, 2011) Unilever India Exports Limited (100%) Unilever Nepal Limited (80%) Hindustan Unilever Foundation (76%) (with effect from December, 2012)
Trust :	Hindustan Unilever Limited Securitisation of Retirement Benefit Trust (100% control) (from October, 2012)
Fellow Subsidiaries :	· Besan-Besin Sanayi ve Ticaret A.S. Brooke Bond Assam Estates Limited Brooke Bond Group Limited Brooke Bond South India Estates Limited Conopco, Inc. Corporativo Unilever de Mexico, S. de R.L. de C.V. (merged) Digital Securities Private Limited Glidat Strauss Ltd. Unilever Chile SA Lipton Soft Drinks Ireland Limited Mascolo Brothers Limited OOO Unilever Rus P.T. Unilever Indonesia, Tbk. Tigi Linea International B.V. Unilever - Zimbabwe (Private) Limited Unilever (China) Investing Company Unilever (China) Limited Unilever (Malaysia) Holdings Sdn Bhd Unilever ASCC AG Unilever Asia Private Limited Unilever Australia Limited Unilever Bangladesh Limited Unilever Brasil Limited Unilever Canada Inc Unilever Cote d'Ivoire Unilever De Argentina SA Unilever Deutschland Produktions GmbH & Company OHG Unilever Employment Services B.V. Unilever Gulf Free Zone Establishment, Arabia Unilever Industries Private Limited Unilever Iran (Private Joint Stock Company) Unilever Italy Holdings Srl Unilever Japan Unilever Lipton Ceylon Ltd. Unilever Maghreb Export SA Unilever Mashreq International Company Unilever N.V. Unilever Nigeria Plc Unilever Overseas Holdings AG Unilever Pakistan Limited Unilever Philippines, Inc Unilever Research and Development Vlaardingen B.V Unilever Research Laboratory, Colworth House Unilever Sanayi ve Ticaret Türk A.S. Unilever SNG Unilever South Africa (Pty) Limited Unilever South Central Europe S.R.L. Unilever Sri Lanka Limited Unilever Supply Chain Company AG Unilever Thai Services Limited Unilever Thai Trading Limited Unilever U.K. Central Resources Limited Unilever UK & CN Holdings Limited Unilever United States, Inc. Unilever Ventures India Advisory Private Limited Unilever Vietnam International Company Limited Lever Brothers, Port Sunlight, Limited
Joint Venture :	Kimberly Clark Lever Private Limited
Employees' Benefit Plans where there is significant influence :	· Hind Lever Gratuity Fund The Hind Lever Pension Fund The Union Provident Fund

CAPITAL STRUCTURE

AFTER 26.07.2013

Authorised Capital : Rs. 2250.000 Millions

Issued, Subscribed & Paid-up Capital : Rs. 2162.631 Millions

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
2,250,000,000	Equity Shares	Re. 1/- each	Rs. 2250.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2,162,472,310	Equity Shares	Re. 1/- each	Rs. 2162.500 Millions

a) Reconciliation of the number of shares

Equity Shares :	31.03.2013
	Number of shares	Rs. in Millions
Balance as at the beginning of the year	2161512492	2161.500
Add : ESOP shares issued during the year	959818	1.000
Balance as at the end of the year	2162472310	2162.500

b) Rights, preferences and restrictions attached to shares

Equity shares:

The Company has one class of equity shares having a par value of Re. 1 per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of Interim Dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

c) Shares in the company held by its holding company and subsidiaries of holding company in aggregate

Equity Shares of Re.1 held by :	31.03.2013
794,806,750 shares(March 31, 2012: 794,806,750 shares) held by holding company	794.800
340,042,710 shares (March 31, 2012: 340,042,710 shares) held by Subsidiaries of holding company	340.000

d) Details of equity shares held by shareholders holding more than 5% shares of the aggregate shares in the Company

	31.03.2013
Number of shares	794,806,750
Unilever PLC, UK, the Holding Company	36.75%

f) Aggregate number of shares allotted as fully paid up pursuant to contract(s) without payment being received in cash (during 5 years immediately preceding March 31, 2013)

	31.03.2013
No. of equity shares issued in the last 5 years under the Employee stock option plan/ performance share schemes as consideration for services rendered by employees	7371948

g) Aggregate number of shares bought back during 5 years immediately preceding March 31, 2013

	31.03.2013
No. of equity shares bought back by the company	53118976

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	2162.500	2161.500	2159.500
(b) Reserves & Surplus	24577.700	32967.800	24435.700
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	26740.200	35129.300	26595.200
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	4762.500	3296.900	2192.000
(d) long-term provisions	7063.400	6669.500	6638.700
Total Non-current Liabilities (3)	11825.900	9966.400	8830.700
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	51676.900	46229.600	50090.500
(c) Other current liabilities	6161.500	5467.700	5545.900
(d) Short-term provisions	18720.200	12789.700	10564.300
Total Current Liabilities (4)	76558.600	64487.000	66200.700
TOTAL	115124.700	109582.700	101626.600
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	22567.900	21175.300	21335.800
(ii) Intangible Assets	361.100	299.400	355.200
(iii) Capital work-in-progress	2053.200	2051.300	2165.900
(iv) Intangible assets under development	103.200	103.200	721.700
(b) Non-current Investments	5480.300	1863.100	1205.800
(c) Deferred tax assets (net)	2047.800	2142.400	2096.600
(d) Long-term Loan and Advances	3842.900	4012.700	4003.100
(e) Other Non-current assets	2968.400	0.000	0.000
Total Non-Current Assets	39424.800	31647.400	31884.100
(2) Current assets
(a) Current investments	17826.300	22519.000	11400.900
(b) Inventories	25269.900	25166.500	28107.700
(c) Trade receivables	8334.800	6789.900	9432.100
(d) Cash and cash equivalents	17078.900	18300.400	16284.700
(e) Short-term loans and advances	6482.600	4807.000	4163.500
(f) Other current assets	707.400	352.500	353.600
Total Current Assets	75699.900	77935.300	69742.500
TOTAL	115124.700	109582.700	101626.600

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Revenue from operations, net	258102.100	221163.700	197355.100
		Other Income	6069.000	2783.100	2728.800
		TOTAL	264171.100	223946.800	200083.900
Less	EXPENSES
		Cost of materials consumed	102846.600	85848.900	75504.900
		Purchases of stock-in-trade	32353.100	30241.400	28181.300
		Changes in inventories of finished goods (including stock-in-trade) and Work-in-progress	(311.300)	1287.300	(2905.300)
		Employee benefits expenses	13183.400	11072.800	9612.600
		Other expenses	69992.800	59799.900	60177.700
		TOTAL	218064.600	188250.300	170571.200
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		46106.500	35696.500	29512.700
Less	FINANCIAL EXPENSES		251.500	12.400	2.400
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		45855.000	35684.100	29510.300
Less/ Add	DEPRECIATION/ AMORTISATION		2360.200	2182.500	2208.300
	EXCEPTIONAL ITEMS		6084.000	1188.700	2068.300
	PROFIT BEFORE TAX		49578.800	34690.300	29370.300
Less	TAX		11612.100	7776.300	6310.400
	PROFIT AFTER TAX		37966.700	26914.000	23059.900
	EARNINGS IN FOREIGN CURRENCY
		Exports at FOB (including exports to Nepal and Bhutan)	1479.600	1620.900	10589.200
		Income from services rendered	5068.400	3277.100	2933.500
		Others (freight, insurance, claims, etc)	0.000	0.000	759.700
	TOTAL EARNINGS		6548.000	4898.000	14282.400
	IMPORTS
		Raw and packing materials	7179.600	7406.600	12461.900
		Stores, spare parts and components	225.400	189.400	306.100
		Capital Goods	759.200	381.600	390.800
	TOTAL IMPORTS		8164.200	7977.600	13158.800
	Earnings Per Share (Rs.)
	Basic		17.56	12.46	10.58
	Diluted		17.55	12.45	10.56

QUARTERLY RESULTS

PARTICULARS	30.06.2013	30.09.2013
Type	1^st Quarter	2^nd Quarter
Net Sales	68090.400	68926.400
Total Expenditure	57234.400	58073.300
PBIDT (Excl OI)	10856.000	10853.100
Other Income	176.7.500	1509.900
Operating Profit	12623.500	12363.000
Interest	62.200	62.800
Exceptional Items	1062.500	334.300
PBDT	13623.800	12634.500
Depreciation	664.400	639.200
Profit Before Tax	12959.400	11995.300
Tax	2766.900	2857.300
Provisions and contingencies	0.000	0.000
Profit After Tax	10192.500	9138.000
Extraordinary Items	0.000	0.000
Prior Period Expenses	0.000	0.000
Other Adjustments	0.000	0.000
Net Profit	10192.500	9138.000

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	14.37	12.02	11.53
Net Profit Margin (PBT/Sales)	(%)	19.21	15.69	14.88
Return on Total Assets (PBT/Total Assets}	(%)	47.02	33.54	30.77
Return on Investment (ROI) (PBT/Networth)		1.85	0.99	1.10
Debt Equity Ratio (Total Debt/Networth)		0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)		0.99	1.21	1.05

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	--
22]	Litigations that the firm / promoter involved in	Yes
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	--
26]	Buyer visit details	--
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

LITIGATION DETAILS:

HIGH COURT OF BOMBAY

CASE DETAILS

BENCH: BOMBAY

Presentation Date: 29.05.2013

Lodging No: ITXAL/830/2013 Filing Date: 29.05.2013 Reg. No.: ITXA/1873/2013 Reg. Date: 05.10.2013

Petitioner: COMMISSIONER OF INCOME TAX-1, MUMBAI Respondent: M/S. HINDUSTAN UNILEVER LIMITED

Petn. Adv : SURESH KUMAR (0)

District: MUMBAI

Bench: SINGLE

Status: Pre-Admission Category: TAX APPEALS

Last Date: 03.10.2013 Stage: FOR REJECTION [ORIGINAL SIDE MATTERS]

Last Coram: REGISTRAR(OS)/PROTHONOTARY & SR. MASTER

Act: Income Tax Act, 1961 UNDER SECTION: 260A

CURRENT MATURITIES OF LONG TERM DEBT: NOT AVAILABLE

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10154268	15/12/2009 *	937,000,000.00	STATE BANK OF HYDERABAD	11-C, MITTAL TOWER, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA, INDIA	A76316173
2	80067099	22/06/1999	445,500,000.00	CITI BANK N.A.	MUMBAI - 400023, MAHARASHTRA, INDIA	-

* Date of charge modification

CHANGE OF ADDRESS:

The registered office of the company has been shifted from Hindustan Lever House, 165/166, Backbay Reclamation, Mumbai – 400020, Maharashtra, India to the present w.e.f.01.01.2012

COMPANY INFORMATION

Subject is a public limited company domiciled in India and is listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The company is a market leader in the FMCG business comprising Home and Personal Care (HPC) and Foods and Refreshments. The company has manufacturing facilities across the country and Research and Development centres in Mumbai and Bangalore and sells primarily in India through independent distributors and modern trade.

MANAGEMENT DISCUSSION AND ANALYSIS

ECONOMY AND MARKETS

The global economy continues to be sluggish with a moderation in growth in China adding to the continuation of the crisis in the European Union and the United States being unable to show clear signs of economic recovery. The global economy seems fragile with revival of economic activity not yet discernible.

Within the domestic economy, growth slowed much more than anticipated, with the GDP growth for fiscal year 2012-13 being pegged at 5.0%, the lowest in a decade. Inflation, which remained high through most part of the year, eroded domestic consumer savings and curtailed consumption reflecting in slowing market growth. The slowdown was particularly stark in discretionary categories which were further accentuated by slowdown in modern trade on the back of stores rationalisation by certain retailers.

The Company’s performance for the year 2012-13 has to be viewed in the context of the aforesaid economic and market environment.

PERFORMANCE OF BUSINESSES AND CATEGORIES

HOME AND PERSONAL CARE (HPC)

The Home and Personal Care (HPC) business consists of Personal Wash, Fabric Wash, Household Care and Personal Products, which includes categories like Skin Care, Hair Care, Oral Care, Deodorants and Colour Cosmetics. During the year, HPC business registered a robust volume and price growth, leading to a value growth of 16.5%.

The opportunity for growth in India continues to be immense across all HPC categories. This fact is also reflected in high levels of competitive intensity in the market place. The Company believes that unwavering defence of market shares in core categories as well as market development to build segments of future is critical for sustained growth and long term value creation. While focusing on the core categories, the Company has also invested significantly in the segments of future, the segments which are expected to drive future growth. Rural continues to be a key area of focus for the Company, with the ‘Khushiyon Ki Doli’ programme continuing across the States of West Bengal, Bihar, Maharashtra, Andhra Pradesh and Uttar Pradesh. ‘Khushiyon Ki Doli’ is a cost efficient, rural brand activation module, which assists in increasing the reach of various HPC brands, such as Wheel, Surf Excel, Vim, Fair and Lovely, Sunsilk, Lifebuoy and Closeup.

In a highly competitive scenario, where new brands and offerings are entering the market almost every quarter, the Company delivered double digit growth driven by innovations and maintenance of marketing and trade investments at competitive levels throughout the year. The Company has also significantly stepped up investment in Digital Media, which is expected to be the media channel of the future. The Company continued to leverage and benefit from the various inputs from Unilever across various aspects of the business, including technology, innovation and communication.

Volatile and rapidly changing commodity markets, including vegetable oil and crude oil, coupled with fluctuating currency markets continued posing a major challenge during the year. Cost inflation impacted several input costs, such as laundry chemicals and supply chain costs. Even in this challenging environment, the Company delivered profit growth through robust cost saving programmes and dynamic pricing without compromising on the competitiveness of brand investments, both in terms of technology as well as advertising and promotion.

SOAPS AND DETERGENTS

Soaps and Detergents turnover grew by 18.8% on the back of strong underlying volume growth and pricing actions.

Personal Wash category recorded strong, double digit growth during the year, driven by robust volume growth resulting from strong marketing plans, consumer centric activations, effective pricing and sustained high levels of distribution. The growth was broad based and across every segment of the category, led by Dove, Lux and Lifebuoy. The category growth was witnessed not only in the core bars business but also in personal wash liquids, through penetration and increased consumption. Focus on cost efficiencies and mix improvements driven by premiumisation helped the Company improve category margins.

Fabric Wash category recorded another successful year with consistent volume growth despite steep increase in input costs. The category margins were sustained by excellent execution of cost saving programmes and dynamic management of pricing actions. The focus on innovations resulted in successful launches / re-launches in brands like Surf Excel and Rin. These brands continued to lead category premiumisation by delivering double digit volume growth. Speed to market was a key focus for the Fabric Wash business. Various initiatives across the Fabric Wash category ensured that the products are competitively priced and the right mix is available in the relevant markets. Comfort continued to drive market development and build the fabric conditioner market. The Company will continue to focus on driving innovations, exercising control over costs across the value chain and delivering effective communication to win in Fabric Wash category.

Household Care category recorded robust volume and value growth during the year through focused innovation in the portfolio to provide greater consumer value. Vim bar continues to delight consumers by delivering superior performance and new offerings like the Anti-Germ Bar and the Monthly Tub Pack. Vim liquid continues to develop the liquid dish wash category driven by superior product quality and strong advertising. It has effectively accomplished the dual job of growing the liquids market by reaching out to more households, while increasing consumption in existing households. Domex continued to provide clean and germ free toilets to the consumers.

PERSONAL PRODUCTS

Personal Products categories comprise Skin Care, Hair Care, Oral Care, Deodorants and Colour Cosmetics. In a challenging economic environment where growth rates slowed down during the year, the Personal Products categories delivered good turnover growth of 12.7%, led by strong underlying volume growth.

Skin Care category registered double digit growth during the year in a challenging market context. New segments like Face Washes, Body Lotions, Skin Lightening and Anti Ageing witnessed robust growth. Pond’s Skin Lightening, Pond’s Anti Ageing and Lakmé Perfect Radiance, which were re-launched during the year, registered a strong double digit growth. Fair and Lovely was also re-launched during the year and has strengthened its market leadership in a slowing mass skin lightening segment. The second half of the year witnessed double digit growth in winter products, such as Pond’s Body Lotion and Cold Cream and Vaseline Body Lotions and Petroleum Jelly.

In Hair Care category, the Company registered robust double digit growth during the year. The Company has strengthened its position in the premium segment with the launch of TRESemmé range of shampoos and conditioners. Dove continues to lead the growth agenda and has consistently gained market share. The brand has also made a foray into the premium hair oil segment with the launch of Elixir range of oils, which has been received well in the market. Sunsilk grew strongly on the back of effective communication. Clinic Plus, with the help of a strong re-launch in first half of the year, continues to be the largest shampoo brand in the category. The Company continued its focus on market development by investing strongly behind the emerging high potential hair conditioners segment, thereby growing ahead of the market.

Oral Care category delivered strong volume led double digit growth. The Company continued to focus on strengthening the Oral Care brands and the portfolio. Pepsodent stepped up its play in the Advanced Care segment with the launch of the Expert Protection range, which has helped in the premiumisation of the brand. Closeup was re-launched during the year and a new flavour variant, Closeup Eucalyptus Mint, was introduced to add to its product portfolio. The Company has also put in place a robust plan to strengthen the toothbrushes portfolio with launches at both the premium as well as the mass end of the market.

The Company continued to strengthen its Deodorant portfolio by introducing Lux in the fast growing women’s deodorant segment. Axe launched a new variant Axe Apollo, which received strong initial response with a first of its kind promotional campaign, where ‘Consumers of Axe Apollo stand a chance to win a trip to space’. Dove deodorant, which was re-launched with added skincare benefits, has been well received by the consumers. The brand continues to have a strong focus on modern trade as a channel. The Company currently imports a large portion of deodorants in the aerosol form. Unilever is in the process of implementing a project to establish a world class deodorants manufacturing facility in India and this plant will provide regular supply of high quality deodorant products to service markets across the world, including India.

Lakmé Colors delivered double digit value growth in the year, driven by strong innovations and expansion of the beauty advisory channel. Lakmé Colors portfolio has been built on four platforms, viz. Core, Absolute, 9 to 5 and Elle 18. The core segment’s growth was led by strong performance in Face products where Lakmé Radiance Compact and Lakmé Perfecting Liquid Foundation particularly performed well. The Nail portfolio grew on the back of solid sales performance in Color Crush and nail enamel remover. Absolute, the top-end long-wear makeup with wide range of products in eye, nail, face and lip, continues to drive relevance and premiumisation. During the year, the 9 to 5 portfolio was further strengthened with the launch of Eyeconic Kajal. Elle 18 was re-launched towards the end of the year to rebuild itself as a brand targeting the younger beauty aspirants.

FOODS AND BEVERAGES (F&B)

The Foods and Beverages (F&B) portfolio of the Company comprises Tea, Coffee, Processed Foods, Frozen Desserts, Bakery products and Out of Home operations, including BRU World Café.

During the year, F&B business delivered double digit growth with an appropriate balance of volume, price and mix. The Packaged Food category continues to represent a significant consumer and business opportunity given the shifts in the income pyramid, increase in working women, growing health concerns and need for taste with convenience. The Company is consistently focused on developing newer offerings that can best fulfil existing and emerging consumer needs. The Company continues to focus on driving availability and distribution alongside building salience for its brands through micro-marketing initiatives in core categories. In addition, the Company is driving upgradation across categories with strong research and development support from Unilever and an intimate understanding of Indian consumer and customer needs.

The F&B business was faced with multiple challenges during the year, including high competitive intensity from multinational, national as well as local players in many categories, significant commodity cost inflation across the spectrum and a general slowdown in consumer spends due to impact of high food inflation. The Company has proactively managed the challenges by responding through value enhancing innovations, consumer centric value packs, judicious price increases and aggressive cost saving programmes.

BEVERAGES

During the year, the tea market grew in volume and value for the second consecutive year driven by upgradation. The commodity prices showed steep increase in latter part of the year. In this context, the Company recorded competitive and profitable growth. This was achieved largely through a combination of brand building efforts on the lead brands in their portfolio, supplemented by strong on-ground efforts to expand distribution and penetration.

Taj Mahal and Lipton continue to drive premiumisation and market development through formats like Tea bags and Iced tea powder enabling the Company to build leadership inthese segments of the future. Taaza was re-launched with a new proposition which propelled the brand’s growth in latter half of the year. Red Label and 3 Roses witnessed third consecutive year of volume and value growth ahead of market. All brands of the Company showcase the inherent goodness of tea. While Red Label and 3 Roses bring out the health benefits of flavonoids, Taaza focuses on improving concentration power through the a nine.

The Instant Coffee market grew strongly during the year with commodity prices witnessing an unprecedented increase. In this context, the Company recorded strong growth, led by the core franchise. The Company expanded the premium BRU Exotica coffee range with the launch of Guatemala (freeze dried coffee), supported by appropriate media activations.

The Company’s Out of Home business performed well during the year and continues to have high growth potential. Investments are being stepped up in the business, portfolio and ‘Go to Market’ capabilities. The Company is expanding the business into new geographies and segments like hotels, restaurants and catering. The Company continues to explore the Out of Home consumption opportunity through its BRU World Cafe outlets in Mumbai.

PACKAGED FOODS

Kissan, which continues to remain one of the most trusted brands among Indian consumers, consolidated its offerings during the year. Ketchups continued to lead with strong underlying volume growth, helping the Company gain market share. The Kissanpur campaign, spread across print, digital and on-ground activations, was highly successful and went on to win many media and creative awards, such as the Grand Prix at Spikes Asia and bronze at Emvies and Effies.

The Company maintained its strong position in the soups segment through Knorr. The instant soups range, targeted for the young adults, performed well. The Company is committed to drive market expansion in the category. Knorr Soupy Noodles has been restaged towards the end of the year with a superior offering.

The staples business, through Annapurna, grew well despite the challenges posed by the rising commodity costs. The Company will continue to focus on key geographies and optimise costs to further enhance the profitability of the portfolio.

The Food Ambassadors programme has significantly strengthened the Company’s capability to engage consumers at the point of sale, which has increased trials of new offerings. The Company will continue to leverage this platform to connect with consumers.

Bakery business (Modern Foods) sustained its performance and continued to deliver strong underlying growth with profit improvement from distribution expansion, scale and better operational efficiencies. The new products and offerings in adjacent categories, like cakes, cookies, idli/ dosa batter, dry mix powders and others have contributed well to the growth.

FROZEN DESSERTS

The Kwality Wall’s business had a good year in a challenging market environment on the back of exciting innovations launched at the onset of the summer season. The three key platforms; Cornetto, Paddle Pop and Selection Take Home Tubs, which are popular among youth, children and families respectively, continued to perform well and delivered double digit growth. During the year, the Company successfully launched a new brand Fruttare, a nice candy ‘made with real fruits’ in three variants, Mango, Grape and Litchi. Selection range of in-home tubs was re-launched with exciting western flavours and new Indian flavours under the Shahi Delights platform. In addition, the innovations under Cornetto, Paddle Pop and Kulfeez also performed well, helping the category deliver higher growth. The Company continued to focus on expansion of Swirl’s parlours across the country. This helped to create over 10 million ’happiness moments‘, while serving unique offerings through Kwality Wall’s Swirl’s outlets.

During the year, input costs put significant pressure on profitability. The robust and well-rounded portfolio and strong innovations have helped the business to take prudent price increases. Availability and visibility are the category’s most important growth drivers. The Company continues to invest in more freezer deployment and usage of information technology to enhance availability and to drive better asset utilisation.

WATER

Pureit continues to strengthen its position in a slowing consumer durables market. During the year, Pureit’s new product innovations focused on driving superior functionality and aesthetics with the launch of Pureit Advanced and Pureit Marvella UV. Pureit Advanced was launched with a breakthrough design that promised a double protection functional benefit. It has become the new benchmark for superiority in the non-electric purifier segment thereby further strengthening Pureit’s market position. The launch of Pureit Marvella UV was another testimony to Pureit’s pioneering innovativeness. This purifier comes equipped with a unique feature of an Advance Alert System for filter change. This feature is in line with Pureit’s product philosophy of delivering safe drinking water till the very last drop. In addition, Pureit Marvella UV is the first UV purifier to have a built-in storage of five litres of purified water, thereby giving consumers an easy way to manage the uncertainty relating to water supply and electricity. During the year, the Company focused on building distribution reach for its range of purifiers in different retail formats across the country. Substantial progress was made in evolving the business model to make it more scalable.

EXPORTS BUSINESS

FMCG EXPORTS (UNILEVER INDIA EXPORTS LIMITED)

In order to fully exploit the opportunity in exports market and to provide necessary focus, flexibility and speed to the business, the FMCG Exports Business Division of the Company was transferred to a wholly owned subsidiary, Unilever India Exports Limited (‘UIEL’) consequent to a Scheme of Arrangement. The Exports business has successfully re-cast itself into two units; one focused on driving cross border sourcing to Unilever companies and the other leveraging the equity of locally developed brands among the ethnic diaspora in international markets. The strategy of a dedicated business unit driving distribution of locally developed brands, such as Kissan, BRU, Brooke Bond, Lakm, Pears have yielded strong growth in these brands in its first year. The Home and Personal Care segment in the exports business witnessed a stable year, driven primarily by Skin Care and Hair Care categories leading to a moderate growth in volume and core operating profit. Brands like Pears and BRU have also registered healthy growth in the focused markets through strong advertising and activation support. The Foods and Beverages segment of the business witnessed a modest growth. The tea bags category maintained strong sales in Australia and the United States. Instant Coffee sales remained steady. The profitability for the overall segment improved, with export incentives being extended to conventional tea, instant tea and instant coffee.

NON-FMCG EXPORTS

In the specialty business, which continued to be part of the Company post the abovementioned demerger, rice registered a strong double digit growth with dedicated focus on expanding geographies, seeding opportunities and marketing / brand building support.

LEATHER (POND’S EXPORTS LIMITED)

The Leather business performed well with improved operating profitability and robust sales growth. This performance was achieved through new product designs, excellent customer service, world class quality and cost innovations.

BEAUTY AND WELLNESS (LAKME LEVER PRIVATE LIMITED)

Lakme Lever Private Limited (LLPL), a wholly owned subsidiary of the Company, has 185salons, of which 46 are Company owned / managed and 139 are franchisee salons. LLPL delivered double digit salon growth for the third consecutive year although expansion slowed down. During the year, Lakm Absolute Salon, the defining salon experience with exclusive bespoke services across Skin and Hair, was opened in New Delhi and Bangalore. LLPL created a focused cross functional ‘New Salon Team’ to accelerate the expansion of new salons. LLPL is investing in improving customer service and building delightful imagery to support the Lakm PRO stylist proposition. The Company will continue to support LLPL to drive growth in this attractive market opportunity.

HINDUSTAN UNILEVER NETWORK

Hindustan Unilever Network business consists of three major brands Aviance (Personal Care), Lever Ayush (Health Care) and Lever Home (Fabric Wash, Household Care and Toothpaste). The Company has made significant improvements in re-positioning the portfolio from the mass market to the Prestige and Premium segments. This has been accomplished through an improved business partner profile. The Company continues to invest in on-ground activation and training.

KIMBERLY CLARK LEVER PRIVATE LIMITED (KCL)

KCL is a Joint Venture between the Company and Kimberly-Clark Corporation, USA, with infant care diapers as its primary product category. The year witnessed the re-launch of Huggies Diapers and Huggies Wonder Pants with improved product features and performance, which has been well received in the market. Low levels of penetration in India’s infant care diapers markets offer significant growth potential for this category. This growth opportunity has attracted increased levels of competitive intensity in the recent past with multinationals making significant investments in India. With a view to participate effectively in this growth opportunity, KCL aims to bring in regular innovations to the market through sustained and appropriate investments in the short to medium term. The Company continues to be committed to make appropriate investments in this business.

PROJECT SHAKTI

The Company continued to drive its rural coverage agenda through Project Shakti, which now has 48,000 Shakti entrepreneurs (Shakti ammas) complemented by over 30,000 Shaktimaans, the male members of Shakti amma’s family. Shakti ammas have proved successful in increasing the Company’s presence in rural areas, building strong local relationships with consumers, thereby encouraging brand loyalty. Shakti ammas are also acting as the Company’s ambassadors to spread awareness of health and hygiene in deep rural India with limited media reach. At the same time, Shaktimaans distribute Company products on bicycles, covering over 135,000 villages in 15 States and serving 3.3million households.

In order to further strengthen the rural coverage and streamline the supply chain network, the Company has deployed a low cost mobile IT solution for Shakti programme, during the year. This is a mini ERP (Enterprise Resource Planning) package run on an entry level smart phone to help the Shakti entrepreneurs manage their enterprise better. The package is now being used by over 40,000 Shakti entrepreneurs across the country. This solution is available in eight languages and allows the Shakti entrepreneurs to book orders and manage inventory. The application also provides updates on the promotions and offers. The information received through this solution provides business insights which helps recommend categories to be driven in lower population markets. This application will equip the Company to become more organised and scientific in its sales and distribution planning in rural India.

INFORMATION TECHNOLOGY fiITfi

The Company continues to invest in IT, leveraging it as a source of competitive advantage. The enterprise wide SAP platform, the backbone of IT, encompasses all core business processes in the Company and also provides a comprehensive data warehouse with analytics capability that help in better and speedier decisions. SAP is used to collaborate with the suppliers and customers. Supply Chain optimisation, enabled by the IT capability, remains a source of significant value. The Company continuously invests in upgrading the SAP platform to leverage the latest functionality and technology enhancements to deliver business efficiencies.

The Company has institutionalised an extensive IT capability for Customer Development function to support front-end execution. All distributors run a standard distributor management system. The salesmen of the distributors use handheld devices for accepting retail orders, which enable faster tracking and real time sales information. The Company has used analytics and the existing IT infrastructure to build a capability for an intelligent sales call. This enables the Company to customise sales call for each out leton a scientific basis, thus helping to significantly improve the effectiveness and efficiency of the sales process. The Company is leveraging GIS (Geographic Information System) based mapping technology to aid planning for coverage expansion drives in urban and rural markets. The capability allows field personnel to identify pockets for coverage and also evaluate their attractiveness to help derive coverage plans. The Company is further enhancing IT capabilities built for rural expansion to equip Shakti ammas with low cost mobile technology to help them work in a more controlled and efficient manner. This technology now allows the Company to standardise selling processes across the Shakti network and also track outlet sales information which can be leveraged through analytics to further aid the selling process.

The Company continues to invest in IT infrastructure to support business applications and has made use of India’s expanded telecom footprint to provide high band width terrestrial links to all operating units. The Company also uses software as a service to provide agile and cost effective IT capabilities in select areas. As the IT systems and related processes get embedded into the ways of working of the organisation, there is a continuous focus on IT security and reliable disaster recovery management processes to ensure all critical systems are always available. These are periodically reviewed, upgraded and tested for efficacy, adequacy, security and reliability.

FINANCE AND ACCOUNTS

The Company continued to focus on cash generation. The focus on managing optimal levels of inventory, sound business performance, operating efficiencies and cost savings across the organisation helped generate healthy cash flows. The Company managed investments prudently by deploying cash surplus in a balanced portfolio defined to offer primacy to safety and liquidity of the investments. Capital Expenditure during the year was at Rs. 4093.400 Millions (Rs. 3100.100 Millions in the previous year). The Finance function of the Company has initiated a multi-fold transformation programme, aligned to the ambition to be the Best Finance Team in the Industry. During the year, multiple finance processes across accounting and reporting, controls and information management were reviewed and work streams were defined to implement global best practices. Significant broad-based progress has been made on this agenda during the year. Project ‘Parivartan’ delivered a further step up in the efficiency of the Purchase to Pay process along with a corresponding improvement in vendor satisfaction. This is now being driven to the next level of simplifying and centralising end-to-end invoice processing. Project ‘My Business Information’ took an ambitious goal of revamping the Company’s information management function. Significant steps are underway towards further exploring this space to get increased information insights to drive growth, margins and cash.

In the initial phase of the project ‘Effective Financial Controls and Reporting’ (EFCR), the finance control environment has been streamlined and strengthened with 50% of key controls being automated by further leveraging SAP. Similarly, significant process and technology interventions were taken up to achieve over25% reduction in time consumed on annual closing processes. The EFCR Project aims to simplify, standardise and automate processes whilst driving value beyond transaction processing. The Company also focused on simplifying banking processes by driving a reduction in the number of bank accounts operated across the Company. This has helped to streamline banking operations, strengthen controls and optimise cash utilisation. All these initiatives will lead to a transformation of the finance function to world class standards, thereby ensuring operational excellence.

The Company has not accepted any fixed deposits during the year and there was no outstanding towards unclaimed deposit payable to depositors as on 31st March, 2013. In terms of the provisions of Investor Education and Protection Fund (Awareness and Protection of Investors) Rules, 2001, Rs. 31.300 Millions of unpaid / unclaimed dividends and interest / redemption of debentures were transferred during the year to the Investor Education and Protection Fund.

OUTLOOK

Global economic activity remains subdued amidst signs of diverging growth paths across major economies. While near term risks to global financial stability are retreating, the global economic climate continues to be volatile and uncertain.

For India, economic activity is expected to show a modest improvement over last year, with a pick-up likely only in the second half of the year. Conditional upon a normal monsoon, agricultural growth could return to trend levels while the outlook for industrial activity remains subdued. Accordingly, the RBI projects a baseline GDP growth for 2013-14 at 5.7%. Upside pressures on inflation, both at wholesale and retail levels, remain high stemming from elevated food inflation, ongoing administered fuel price revisions and volatility in exchange rates. FMCG markets are expected to grow; however, uncertain global economic environment, inflation and competitive intensity continue to pose challenges. While the near term conditions pose a challenge for the economy, the medium to longer term secular trends based on rising incomes, aspirations, low consumption levels, etc. are positive and an opportunity for the FMCG sector in general and for the Company in particular.

UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED 30TH SEPTEMBER, 2013

(RS. IN MILLIONS)

Particulars	Unaudited Results for the Quarter ended 30th September	Unaudited Results for the Quarter ended 30th June	Unaudited Results for the Six Months ended 30th September
	2013	2013	2013
1.a. Net Sales from Operations (Net of excise duty) [sum of (i) to (iii)]	67472.000	66874.900	134346.900
i) Domestic FMCG - HPC ii) Domestic FMCG - Foods	52420.100 12174.600	52167.400 12037.100	104587.500 24211.700
Domestic FMCG - Total (i+ii)	64594.700	64204.500	128799.200
iii) Others	2877.300	2670.400	5547.700
1.b. Other Operating Income	1454.400	1215.500	2669.900
1. Total Income from operations (net) [1.a. + 1.b.]	68926.400	68090.400	137016.800
2. Expenses [sum of (a) to (g)]	58712.500	57898.800	116611.300
Cost of materials consumed Purchases of stock-in-trade Changes in inventories of finished goods, work-in-progress and stock-in-traded) Employee benefits expense Depreciation and amortisation expense Advertising & Promotions Other expenses	29230.300 8122.700 (2653.800) 3683.000 639.200 9540.200 10150.900	26252.300 7498.200 1077.500 3416.800 664.400 8897.800 10091.800	55482.600 15620.900 (1576.300) 7099.800 1303.600 18438.000 20242.700
3. Profit from operations before other income, finance costs and exceptional items (1-2)	10213.900	10191.600	20405.500
4. Other Income	1509.900	1767.500	3277.400
5. Profit from ordinary activities before finance costs and exceptional items (3+4)	11723.800	11959.100	23682.900
6. Finance costs	62.800	62.200	125.000
7. Profit from ordinary activities after finance costs but before exceptional items (5-6)	11661.000	11896.900	23557.900
8. Exceptional Items - net credit/ (charge)	334.300	1062.500	1396.800
9. Profit from Ordinary Activities Before Tax (7+8)	11995.300	12959.400	24954.700
10. Tax expense	2857.300	2766.900	5624.200
11. Net Profit from Ordinary Activities After Tax [9-10]	9138.000	10192.500	19330.500
12. Extraordinary Items	-	-	-
13. Net Profit for the period (11+12)	9138.000	10192.500	19330.500
Paid up Equity Share Capital (face value Re. 1 per share) Reserves excluding Revaluation Reserve as per balance sheet of previous accounting year 16.i Earnings Per Share (EPS) before extraordinary items (of Re. 1/- each) (not annualised): (a) Basic - Rs. (b) Diluted - Rs. 16.ii Earnings Per Share (EPS) after extraordinary items (of Re. 1/- each) (not annualised): (a) Basic - Rs. (b) Diluted - Rs. A. PARTICULARS OF SHAREHOLDING 1. Public Shareholding Number of Shares Percentage of Shareholding 2. Promoters and Promoter Group Shareholding a) Pledged/Encumbered Number of shares Percentage of shares (as a % of the total shareholding of promoter and promoter group) - Percentage of shares (as a % of the total share capital of the company) b) Non-Encumbered Number of shares Percentage of shares (as a % of the total shareholding of promoter and promoter group) Percentage of shares (as a % of the total share capital of the company)	2162.600 4.23 4.22 4.23 4.22 708,156,159 32.75% Nil NA NA 1,454,412,858 100.00% 67.25%	2162.500 4.71 4.71 4.71 4.71 1,027,622,850 47.52% Nil NA NA 1,134,849,460 100.00% 52.48%	2162.600 8.94 8.93 8.94 8.93 708,156,159 32.75% Nil NA NA 1,454,412,858 100.00% 67.25%
B. INVESTOR COMPLAINTS			Quarter ended 30th September, 2013
Pending at the beginning of the quarter Received during the quarter Disposed of during the quarter Remaining unresolved at the end of the quarter			Nil 35 35 Nil

SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED

Particulars	Unaudited Results for the Quarter ended 30th September	Unaudited Results for the Quarter ended 30th June	Unaudited Results for the Six months ended 30th September
	2013	2013	2013
Segment Revenue (Sales and Other operating income) Soaps and Detergents Personal Products Beverages Packaged Foods Others (includes Exports, Water, Infant Care Products, etc)	33807.700 19503.400 8354.200 3979.800 3048.500	34076.600 18833.800 7573.700 4578.800 2790.800	67884.300 38337.200 15927.900 8558.600 5839.300
Total Segment Revenue Less: Inter Segment Revenue	68693.600 -	67853.700 -	136547.300 -
Net Segment Revenue	68693.600	67853.700	136547.300
Segment Results (Profit before tax and interest from ordinary activities) Soaps and Detergents Personal Products Beverages Packaged Foods Others (includes Exports, Water, Infant Care Products, etc)	4738.900 4449.100 1416.700 133.100 46.200	4393.200 4681.600 1386.800 383.900 (30.800)	9132.100 9130.700 2803.500 517.000 15.400
Total Segment Results Less: Finance Costs Add/(Less): Other unallocable income net of unallocable expenditure	10784.000 (62.800) 1274.100	10814.700 (62.200) 2206.900	21598.700 (125.000) 3481.000
Total Profit Before Tax from ordinary activities	11995.300	12959.400	24954.700
Capital Employed (Segment assets less Segment liabilities) Soaps and Detergents Personal Products Beverages Packaged Foods Others (includes Exports, Water, Infant Care Products, etc)	(4544.500) (4499.500) 809.300 1446.900 (870.600)	(6071.400) (4535.200) 1624.300 1642.400 (614.600)	(4544.500) (4499.500) 809.300 1446.900 (870.600)
Total Capital Employed in segments Add: Unallocable corporate assets less corporate liabilities	(7658.400) 53886.300	(7954.500) 44887.200	(7658.400) 53886.300
Total Capital Employed	46227.900	36932.700	46227.900

		Standalone Statement of Assets and Liabilities	As at 30th September, 2013
		Particulars	Unaudited
A		EQUITY AND LIABILITIES
	1	Shareholders’ funds (a) Share capital	2162.600
		(b) Reserves and surplus	44065.300
		Sub-total - Shareholders' funds	46227.900
	2	Non-current liabilities (a) Other long-term liabilities	4814.100
		(b) Long-term provisions	7037.300
		Sub-total - Non-current liabilities	11851.400
	3	Current liabilities (a) Trade payables	57488.200
		(b) Other current liabilities	8366.200
		(c) Short-term provisions	5011.000
		Sub-total - Current liabilities	70865.400
		TOTAL - EQUITY AND LIABILITIES	128944.700
B		ASSETS
	1	Non-current assets (a) Fixed assets	25484.300
		(b) Non-current investments	6501.500
		(c) Deferred tax assets (net)	1893.000
		(d) Long-term loans and advances	5099.800
		(e) Other non-current assets	2970.200
		Sub-total - Non-current assets	41948.800
	2	Current assets (a) Current investments	23270.400
		(b) Inventories	26231.300
		(c) Trade receivables	6794.000
		(d) Cash and bank balances	24459.500
		(e) Short-term loans and advances	5358.000
		(f) Other current assets	882.700
		Sub-total - Current assets	86995.900
		TOTAL - ASSETS	128944.700

Notes:

1. Net Sales grew by 9.6% during the quarter. Domestic Consumer Business (FMCG + Water) grew by 9.9% with a 8.9% growth in HPC and 14.6% growth in Foods businesses.

2. Operating Profit (Profit from Operations before Other Income, Finance costs and Exceptional Items) for the quarter at Rs. 10213.900 Millions (SQ’12: Rs. 9190.500 Millions) grew by 11.1%.

3. Profit after tax from ordinary activities before Exceptional Items net of tax (refer note 5 below) for the quarter at Rs. 8830.000 Millions (SQ’12: Rs. 8058.700 Millions) grew by 9.6%.

4. Other income includes interest income, dividend income and net gain on sale of other non-trade current investments aggregating to Rs. 1509.900 Millions (SQ’12: Rs. 1487.500 Millions).

5. Exceptional items, net credit in SQ’13 include profit on sale of surplus properties Rs. 383.700 Millions (SQ’12: Rs. 58.000 Millions) and restructuring costs of Rs. 49.400 Millions (SQ’12: Rs. 42.200 Millions).

6. The Board of Directors at their meeting held on 26th October, 2013 have resolved to pay Interim Dividend of Rs. 5.50 per share of nominal value of Re.1/- for the financial year. The interim dividend will be payable on or after 15th November, 2013 and the record date for determining entitlement has been fixed as 1st November, 2013.

7. Previous period figures have been re-grouped/reclassified wherever necessary, to conform to this period’s classification.

8. The text of the above statement was approved by the Board of Directors at their meeting held on 26th October, 2013.

Limited Review: The Limited Review by the Statutory Auditors for the quarter as required under clause 41 of the Listing Agreement has been completed and the related Report is being forwarded to the Stock Exchanges. This Report does not have any impact on the above Results and Notes which need to be explained.

CONTINGENT LIABILITIES:

Particulars	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
Claims against the company not acknowledged as debts
Income-tax matters	4685.600	4998.200
Sales tax matters - Rs. 517.200 Millions (2010-12 - Rs. 602.800 Millions) net of tax	783.500	982.400
Excise and Customs duty matters - Rs 937.100 Millions (2010-12 - Rs. 585.200 Millions) net of tax	1419.600	1026.600
Other matters including claims related to employees/ex-employees, property related demands, etc - Rs. 528.100 Millions (2010-11 - Rs. 351.000 Millions) net of tax a) It is not practicable for the Company to estimate the timings of cash outflows, if any, in respect of the above pending resolution of the respective proceedings b) The Company does not expect any reimbursements in respect of the above contingent liabilities. c) Future cash outflows in respect of the above are determinable only on receipt of judgements / decisions pending with various forums / authorities	800.000	519.500
Total	7688.700	7526.700

FIXED ASSETS:

Ø Land

Ø Buildings

Ø Plant and Machinery

Ø Railway Sidings

Ø Furniture and Fixtures

Ø Office Equipments

Ø Motor Vehicles

Ø Others

PRESS RELEASES

HUL SEES SLOWDOWN IN MARKET GROWTH; CO GET NEW CEO

July 26, 2013

Hindustan Unilever Limited, the country’s largest consumer products company, announced a strong set of quarterly numbers. It also gets a new chief executive as Nitin Paranjpe who led the company for five years, and many would argue, put it firmly on the growth path, moves on to Unilever as president of its Home care business.

Sales for the quarter grew at 7 percent to Rs 6,809 crore but volume growth – a number that is as keenly tracked – was up just 4 percent for the quarter. Net profit was down 23 percent to Rs 10190.000 Millions but that number is not strictly comparable as last year the company recorded an exceptional gain due to the sale of its Gulita training center.

The results come at a time when growth in consumer products businesses has slowed down over the last three quarters as consumers cut back on both day-to-day and discretionary spends.

ITC, which reported a disappointing set of numbers yesterday, showed clearly that growth in consumer markets is not always a secular trend.

HUL maintained that it sees itself growing faster than its peers but also cautioned that growth rates could dip further.

“Between early 2012 and now there has been a significant slowdown,” said chief executive, Nitin Paranjpe. “And this is across both urban and rural.”

Significantly, for HUL margins expanded by 70 basis points to 15.2 percent. This came at a time when the company was forced to spend Rs70 crore more on advertising and promotion to defend its brands in the market place.

While the company said it had not seen any mass down trading of brands it did admit that one brand in particular Fair and Lovely had declined, which pulled down growth in the personal products category as a whole.

HUL’s stock price, which has moved like a rocket in the last month corrected 3.5 percent to Rs 662 but that decline could be attributed to the huge run up as to slowing sales growth.

The stock is up 10.3 percent since June 4 when Unilever’s open offer at Rs 600 a share concluded. It’s stock has been the second best performing on the Sensex this year after Sun Pharma.

The company also announced that Sanjiv Mehta who heads the company’s Middle East and North Africa business will replace Paranjpe effective October 1.

HINDUSTAN UNILEVER FORAYS INTO PREMIUM BASMATI RICE

NEW DELHI: Hindustan Unilever has entered the premium rice market with the launch of Gold Seal Indus Valley basmati rice, almost a decade after scaling down its commodity business.

An HUL spokesperson said the brand, which was being exported to countries in the Middle East till now, would now be made available in select Indian cities through the modern trade channel before taking it to other cities in a phased manner next year.

HUL tried to ramp up its packaged foods portfolio by launching wheat flour, soups and sauces a decade ago. It later scaled back its presence in flour and salt and withdrew from biscuits market due to low profit margins.

The company plans to keep Gold Seal Indus Valley basmati rice in the premium segment rather than competing with popular brands such as Kohinoor and Daawat.

FORBES RECOGNISES HUL AS THE CONSCIOUS CAPITALIST OF THE YEAR

01-11-2013 : Hindustan Unilever Limited has been recognised as the Conscious Capitalist of the Year at the 2013 Forbes India Leadership Awards.

Hindustan Unilever Limited has been recognised as the Conscious Capitalist of the Year 2013 at the Forbes India Leadership Awards. Our CFO, Sridhar Ramamurthy received the award on behalf of the company

The Forbes India Leadership Awards recognises large companies that consistently show a higher purpose beyond profit maximisation and deal even-handedly with all five groups of stakeholders – shareholders, the community, employees, customers and suppliers.

Our corporate purpose states that to succeed requires "the highest standards of corporate behaviour towards everyone we work with, the communities we touch, and the environment on which we have an impact." We constantly endeavour to develop new ways of doing business with the aim of doubling the size of our company while reducing our environmental impact.

The eminent jury comprising of KV Kamath (Chairman, ICICI Bank), Adil Zainulbhai (McKinsey), Zia Mody (AZB Partners), Ajit Rangnekar (Dean, ISB), Akhil Gupta (Blackstone) and Raghav Bahl (Founder, Network18), unanimously chose our company as most worthy of the recognition

HUL LAUNCHES BRITAIN’S MOST CELEBRATED HAIR-STYLING BRAND TONI&GUY IN INDIA

07-10-2013 : The Premium British hair-styling brand makes a fashionable entry in India; Showcases its premier looks through style divas Malaika Arora Khan, Soha Ali Khan, Anusha Dandekar.

TONI&GUY Hair Meet Wardrobe, Britain’s most celebrated hair-styling brand, recently made a resounding foray into the Indian market, bringing with it a gamut of its most distinguished global products. Dominating the twin worlds of high fashion and hair styling, TONI&GUY Hair Meet Wardrobe coherently defines everything that lies in between. The debut launch emphasises the brand’s philosophy of ‘Hair meet Wardrobe', showcasing the revolutionary concept of how hair can be worn as an accessory.

At the brand’s launch the brands three ambassadors –Malaika Arora Khan, Soha Ali Khan and Anusha Dandekar walked the red carpet in three timeless looks curated by Mark Hampton, TONI&GUY’s Hair Meet Wardrobe Global Hair Ambassador. Each of these divas embodied the theme of a chic TONI&GUY Hair Meet Wardrobe range, namely - Glamour, Classic and Casual.

About TONI&GUY

TONI&GUY has long been renowned as an innovator within the hair industry, bridging the gap between high fashion and hairdressing. This is exemplified by the brand’s sponsorship of London Fashion Week and London Fashion Weekend, a partnership that began in September 2004. As the official sponsor of London Fashion Week, TONI&GUY creates the hair for over 80 designer catwalk shows each year, working with top designers including Giles Deacon, Todd Lynn, Jean-Pierre Braganza, Pam Hogg and Tata Naka.

HUL DECLARED ‘BEST MEDIA CLIENT’ AT EMVIES 2013

18-09-2013 : HUL has been awarded the ‘Best Media Client of the Year’ at India’s most prestigious media awards – The Emvies.

HUL had a rich haul of 12 awards overall with 4 Golds, 4 Silvers and 4 Bronzes across categories.

The award ceremony took place on 6^th September, 2013 in Mumbai. The award winning HUL campaigns included:

Case Study	Category	Metal
Lifebuoy Roti Reminder	Best Media Innovation- Direct Marketing	Gold
Lifebuoy Roti Reminder	Best Media Innovation- Ambient Media	Gold
Axe Chickipedia- 5.2 years of digital content viewed in 6 months!	Best Media Innovation Digital (Social Media)	Gold
Axe Chickipedia- 5.2 years of digital content viewed in 6 months!	Best Media Innovation Digital (Video)	Gold
CloseUp Toothpaste- Muskaan Begum	Best Media Innovation- Branded Content	Silver
Axe Chickipedia- 5.2 years of digital content viewed in 6 months!	Best Media Innovation- Branded Content	Silver
Lifebuoy Handwash- Chintoo's Adventure disrupts his 21year journey	Best Media Innovation- Print (Dailies)	Silver
CloseUp Toothpaste- Muskaan Begum	Best Media Innovation- Radio	Silver
Clear Anti Dandruff Shampoo- Clear Marries Cinema	Best Media Strategy- Consumer Products	Bronze
Lifebuoy Handwash- Chintoo- The reel hero who made interval a fun memorable experience	Best Media Innovation- Cinema	Bronze
Surf Excel- Nanhe Patrakar	Best Ongoing Media Campaign	Bronze
Clinic Plus Chulbuli Hai Na	Best Ongoing Media Campaign	Bronze

Besides the awards mentioned above, HUL campaigns also won awards in ‘special categories. In the category , ‘Best Use of a Bollywood Celebrity In Media ‘, Active Wheel’s “Tiger Ne Ghumaya Entertainment Ka Wheel” won a gold while Red Label Health Challenge won a bronze award. Lifebuoy’s Roti Reminder campaign won another gold in the ‘Best Media Innovation – Ambient Media’ category.

About the Emvies

The Emvies is India's most prestigious media awards show where breakthrough innovations in Indian media are recognised. The awards are organised by the Advertising Club of Bombay.

HINDUSTAN UNILEVER AMONGST BUSINESS WORLD’S MOST RESPECTED COMPANIES IN INDIA

04-09-2013 : HUL ranks No.4 in India's most respected companies list; becomes the No.1 FMCG Company.

Hindustan Unilever Limited has emerged as the No. 4 Most Respected Company in India, in a survey conducted by Business World, one of India’s leading business magazines. The company follows TCS, Reliance Industries and Infosys which were ranked No 1, 2 and 3 respectively.

HUL also emerged as the number one company in this year’s FMCG sector rankings.

Speaking about our company’s success Nitin Paranjpe CEO & MD, Hidustan Unilever told Business World, “We have significantly increased our pace of innovation, which helps us to continuously enhance the consumer value of our products.”

Research Methodology

In order to assess the rankings around 1300 senior executives were interviewed by Business World this year. Companies were judged on a number of criteria including innovation, depth & quality of top management, financial performance & returns, ethics & transparency, quality of products & services, people management practices and global competitiveness.

UNILEVER LAUNCHES PROJECT SUNLIGHT – A NEW INITIATIVE TO MOTIVATE PEOPLE TO LIVE MORE SUSTAINABLY

20/11/2013

Mumbai, 20th November 2013. Unilever is following up its Sustainable Living Plan with the launch of Unilever Project Sunlight, a new initiative to motivate millions of people to adopt more sustainable lifestyles. Project Sunlight aims to make sustainable living desirable and achievable by inspiring people to look at the possibilities of a world where everyone lives well and within the natural limits of the planet.

Project Sunlight, which is being launched today, on Universal Children’s Day, in Brazil, India, Indonesia, the UK and the US, is designed to appeal to people everywhere, and in particular parents, encouraging them to join what Unilever sees as a growing community of people who want to make the world a better place for children and future generations. To mark the launch of Project Sunlight on Universal Children’s Day, Unilever will be helping 2 million children through its ongoing partnerships, providing school meals through the World Food Programme; supporting Save the Children to provide clean, safe drinking water; and improved hygiene through UNICEF. As part of this campaign, Unilever in partnership with Unicef aims to reach out to 500,000 school children in 3,500 schools across India and set up handwashing facilities.

HUL CEO & MD, Sanjiv Mehta said, “The launch of Project Sunlight is a significant milestone in the history of our company. We believe that large companies like ours have to be part of the solution to the problems the world is facing. Adopting sustainable lifestyles and people using their purchasing power to make consumption choices that are good for them and good for the world are important factors in the drive to reducing social inequality and averting the worst climate change predictions – to make sustainable living commonplace.”

Unilever Chief Marketing & Communications Officer, Keith Weed, explains: “Project Sunlight aims to galvanise and build momentum behind a movement that is already happening. We know people all over the world want to adopt more sustainable behaviours, but need these to be easy and to fit with the way they live their lives. As a global consumer goods company, we have the means to help people realise this ambition. We have extensive experience and research into what drives – and what limits – mass behaviour change. From this experience, we know that parenthood creates a profound shift in people’s view of the world and what the anticipated future will mean for the lives of their children.”

“In the first stage of Project Sunlight, we are inviting people to take three simple actions. We want to help people SEE a brighter future; in order to do this, we are inviting people to watch a film online which aims to inspire and motivate people. We want to encourage them to ACT by doing small things which, added together, contribute to a better society and environment. Ultimately, we want people to JOIN the movement and become part of a growing community of likeminded people and organisations who all want to play their part in building a brighter future,” adds Weed.

The film, especially commissioned by Unilever and directed by Academy Award winning director Errol Morris, will inspire people to see the future in a more positive and optimistic way.

Project Sunlight will initially go live on an online hub – www.projectsunlight.com(Link opens in a new window) – which brings together the social mission stories of Unilever’s brands across the world, and invites consumers to get involved in doing small things which help their own families, others around the world and the planet.  Some of the brand programmes featured include Lifebuoy soap, which helps protect millions of children in Asia, Africa and Latin America from pneumonia and diarrhoeal disease, which kill 2 million children under five each year; Dove, which helps girls across the world improve their self-esteem; Omo, Persil and Surf, whose detergents help families cut their utility bills and CO2 emissions;  Comfort One Rinse, which helps families in water-scarce countries in Asia including India reduce their water use; and Lipton, Magnum and Knorr, whose use of sustainably grown ingredients helps small farmers grow better crops and improve their livelihoods.

Project Sunlight has been informed by the wealth of Unilever’s consumer insight, including a new international piece of research commissioned by Unilever. This shows that children are key to motivating adults to want to adopt more sustainable lifestyles and a powerful influence on parents changing their behaviour. 9 out of 10 parents say children’s natural optimism and enthusiasm inspires them to make the world a better place, and 7 out of 10 parents say their main motivation for wanting to live in a greener way is their children’s future. The research also shows that there are key child-related moments, particularly around the birth of a first child, when people are more open to changes in their own behaviours and lifestyles.

“We chose the name Sunlight as a tribute to our founder William Lever, whose audacious vision 130 years ago to ‘make cleanliness commonplace’ with Sunlight soap inspired Unilever’s equally ambitious purpose today: to make sustainable living commonplace. Sunlight also reflects the sense of possibility and optimism which characterises Unilever’s approach,” adds Weed.

Tim Hunter, UNICEF Deputy Director of Fundraising, concludes: “Unilever’s support to UNICEF’s sanitation programmes has already made a lasting impact on the lives of thousands of children, and the funding from this new initiative will help reach a further 500,000 children.  By supporting us in providing handwashing facilities and promoting group handwashing programmes across 3,500 schools in India, Project Sunlight will be helping these children to have a healthy start in life.”

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 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. 62.06
UK Pound	1	Rs. 102.03
Euro	1	Rs. 85.27

INFORMATION DETAILS

Information Gathered by :	HTL
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	9
PAID-UP CAPITAL	1~10	9
OPERATING SCALE	1~10	9
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	10
--PROFITABILIRY	1~10	8
--LIQUIDITY	1~10	9
--LEVERAGE	1~10	9
--RESERVES	1~10	9
--CREDIT LINES	1~10	9
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	YES
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		81

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 EXPLANATIONS

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	Capability to overcome financial difficulties seems comparatively below average.	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
--	NB	New Business	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.