MIRA INFORM REPORT

Report Date :

07.03.2013

IDENTIFICATION DETAILS

Name :	COLGATE-PALMOLIVE (INDIA) LIMITED
Registered Office :	Colgate Research Centre, Main Street, Hiranandani Gardens Powai, Mumbai-400076, Maharashtra.
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	23.09.1937
Com. Reg. No.:	11-002700
Capital Investment / Paid-up Capital :	Rs.135.993 Millions
CIN No.: [Company Identification No.]	L24200MH1937PLC002700
TAN No.: [Tax Deduction & Collection Account No.]	MUMC00390F
Legal Form :	Public Limited Liability Company. Company’s Shares are listed on the Stock Exchange.
Line of Business :	Manufacturing and selling of cosmetics and toilet preparations, distilled fatty acid, toilet soap, glycerine, toothbrushes and shave brushes and dicalcium phosphate.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Aa (74)

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 17410000
Status :	Excellent
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a subsidiary of ‘Colgate-Palmolive Company, USA’. It is a well established and reputed company having fine track record. Financial position of the company appears to be sound. Fundamentals are strong and healthy. Trade relations are reported as trustworthy. Payments are reported to be regular and as per commitments. The company can be considered good for any business dealings at 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.

ECGC Country Risk Classification List – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

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.

LOCATIONS

Registered Office :	Colgate Research Centre, Main Street, Hiranandani Gardens Powai, Mumbai-400076, Maharashtra, India
Tel. No.:	91-22-25705050 / 25705060
Fax No.:	91-22-25705088
E-Mail :	info@colgate.com aarun_pande@colpal.com
Website :	http://www.colgate.com http://www.colpal.com
Factory 1 :	Plot No. B 14/10 MIDC, Waluj Industrial Area, Aurangabad 431 136 , Maharashtra, India
Factory 2 :	Plot No. 78, EPIP Phase I, Jharmajri, Baddi, District Solan – 174103, Himachal Pradesh, India
Factory 3 :	Plot Nos. 154, 158 and 160, Kundaim Industrial Estate, Kundaim – 403 115, Goa, India
Factory 4 :	Premises No. 44-617/11, Road No.7, IDA, Nacharam, Hyderabad-500076, Andhra Pradesh, India

DIRECTORS

AS ON 31.03.2012

Name :	Ms. P. Parameshwaran
Designation :	Managing Director
Name :	Mr. R.A. Shah
Designation :	Vice Chairman
Name :	Mr. P.K. Ghosh
Designation :	Deputy Chairman
Name :	Mr. P E Alton
Designation :	Whole Time Finance Director
Name :	Mr. N Ghate
Designation :	Whole Time Director
Name :	Dr. I Shahani
Designation :	Director
Name :	Mr. J.K. Setna
Designation :	Director
Name :	Mr. V.S. Mehta
Designation :	Director
Name :	Mr. M. V. Deoras
Designation :	Chairman

KEY EXECUTIVES

Name :	Mr. N Ghate
Designation :	Company Secretary
Management Committee:
Name :	Ms. P. Parameshwaran
Designation :	Managing Director
Name :	Mr. P E Alton
Designation :	Finance
Name :	Mr. N Ghate
Designation :	Legal
Name :	Ms. R Rao
Designation :	Marketing
Name :	Mr. S Sen
Designation :	Customer Development
Name :	Mr. R Subramanyam
Designation :	Research and Development
Name :	Mr. L Wheeler
Designation :	Manufacturing and Supply Chain
Name :	Mr. A Singh
Designation :	Human Resources
Name :	Ms. S Menon
Designation :	Customer Services and Logistics
Name :	Mr. M Mehrotra
Designation :	Supply Chain Director-Global Toothbrush
Audit Committee:
Name :	Mr. R.A. Shah
Designation :	Chairperson
Name :	Mr. P.K. Ghosh
Designation :	Chairperson
Name :	Mr. J.K. Setna
Designation :	Chairperson
Name :	Mr. V.S. Mehta
Designation :	Chairperson
Name :	Dr. I Shahani
Designation :	Director
Name :	Mr. N Ghate
Designation :	Company Secretary
Shareholders’/Investors’ Grievance Committee:
Name :	Mr. P.K. Ghosh
Designation :	Chairperson
Name :	Ms. P Parameshwaran
Designation :	Chairperson
Name :	Mr. J.K. Setna
Designation :	Chairperson
Name :	Mr. N Ghate
Designation :	Company Secretary
Name :	Crawford Bayley And Company Solicitors

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 31.12.2012

Category of Shareholder	No. of Shares	% of No. of Shares
(A) Shareholding of Promoter and Promoter Group
(1) Indian
(2) Foreign
Bodies Corporate	69356336	51
Sub Total	69356336	51
Total shareholding of Promoter and Promoter Group (A)	69356336	51
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	1379656	1.01
Financial Institutions / Banks	85438	0.06
Central Government / State Government(s)	63718	0.05
Insurance Companies	5805462	4.27
Foreign Institutional Investors	29310011	21.55
Qualified Foreign Investor	2580	0
Sub Total	36646865	26.95
(2) Non-Institutions
Bodies Corporate	1589609	1.17
Individuals
Individual shareholders holding nominal share capital up to Rs. 0.100 Million	27472149	20.2
Individual shareholders holding nominal share capital in excess of Rs. 0.100 Million	421500	0.31
Any Others (Specify)	506358	0.37
Non Resident Indians	371093	0.27
Overseas Corporate Bodies	3220	0
Trusts	132045	0.1
Sub Total	29989616	22.05
Total Public shareholding (B)	66636481	49
Total (A)+(B)	135992817	100
(C) Shares held by Custodians and against which Depository Receipts have been issued	0	0
(1) Promoter and Promoter Group	0	0
(2) Public	0	0
Sub Total	0	0
Total (A)+(B)+(C)	135992817	0

BUSINESS DETAILS

Line of Business :

Manufacturing and selling of cosmetics and toilet preparations, distilled fatty acid, toilet soap, glycerine, toothbrushes and shave brushes and dicalcium phosphate.

Products :

Item Code (ITC CODE)	Product Description
330610.02	Toothpaste
330610.01	Tooth Powder
960321.00	Toothbrush

PRODUCTION STATUS (AS ON : 31.03.2011)

Particulars	Unit	Installed Capacity	Actual Production
Cosmetic and Toilet Preparation	MT	165475	102369
Flavor	MT	6675	707

GENERAL INFORMATION

No. of Employees :	Not Available
Bankers :	Not Available

Banking Relations :	--
Auditors :
Name :	Price Waterhouse Chartered Accountant
Ultimate Holding Company :	· Colgate-Palmolive Company, U.S.A.
Related Parties :	· Colgate-Palmolive (Malaysia) Mktg. SDN BHD, Malaysia · Colgate-Palmolive East Africa Limited, Kenya · Colgate-Palmolive Marocco Limited · Colgate-Palmolive Pty. Limited, South Africa · Colgate-Palmolive (Thailand) Limited · Colgate-Palmolive (H.K.) Limited, Hongkong · Colgate-Palmolive Management Services (H.K.) Limited · Colgate-Palmolive (China) Company Limited, China · Colgate-Palmolive Son Hai Limited, Vietnam · Colgate Sanxiao (Consumer Products) Company Limited · Hawley and Hazel Chemical Company (H.K.) Limited · Colgate-Palmolive Temizlik, Urunleri, Turkey · Colgate-Palmolive Cameroun S.A., Cameroun · Colgate-Palmolive Romania srl. · Mission Hills S.A. DE C.V. · Colgate-Palmolive (Eastern) Pte Limited, Singapore · Colgate-Palmolive Industria E Commercio Ldta, Brazil · Colgate-Palmolive (Asia) Pte. Limited, Singapore · Norwood International Incorporated, U.S.A. · Colgate-Palmolive Tanzania Limited · CP Hawley and Hazel Chemical Company, (ZS) Limited · Colgate-Palmolive Zambia Inc. · Colgate-Palmolive Services Poland · Colgate-Palmolive (PNG) Limited, PNG · Hill’s Pet Nutrition, Inc., Topeka · Hill’s Pet Nutrition Manufacturing, s. r. o. · Colgate Palmolive Bt. Limited, Blantyre, Malawi · Colgate Oral Pharmaceuticals Inc. Carrollton, U.S.A. · Colgate-Palmolive CACE Region, Istanbul, Turkey · Colgate-Palmolive (Fiji) Limited · Colgate-Palmolive Senegal · Colgate-Palmolive Gabon · Colgate-Palmolive Italia S.r.l., Italy · Colgate-Palmolive France · Colgate Philippines Inc.
	·

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
1370000000	Equity Shares	Rs.1/- each	Rs. 1370.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
135992817	Equity Shares	Rs.1/- each	Rs. 135.993 Millions

NOTES

(A) Shares held by Ultimate Holding Company and its Subsidiaries

(i) 5,44,76,347 (Previous Year: 5,44,76,347) Equity Shares are held by Colgate-Palmolive Company, U.S.A., the Ultimate Holding Company.

(ii) 1,48,79,426 (Previous Year: 1,48,79,426) Equity Shares are held by Colgate-Palmolive (Asia) Pte. Limited, Singapore, Subsidiary of the Ultimate Holding Company.

(iii) 563 (Previous Year: 563) Equity Shares are held by Norwood International Incorporated, U.S.A., Subsidiary of the Ultimate Holding Company.

(B) Reconciliation of Shares Outstanding

	As at March 31, 2012
	Number of Shares	Rs. In Millions
Balance at the beginning of the year	13,59,92,817	135.993
Issued during the year
Balance at the end of the year	13,59,92,817	135.993

(C) Details of Shareholders holding more than 5% of the aggregate Shares in the Company

	As at March 31, 2012
	Number of Shares	% of holding
Colgate-Palmolive Company, U.S.A.	5,44,76,347	40.06
Colgate-Palmolive (Asia) Pte. Limited, Singapore	1,48,79,426	10.94
Life Insurance Corporation of India (LIC)*
Oppenheimer Developing Market Fund	73,20,782	5.38

* The holding of LIC has decreased from 5.51% as at March 31, 2011 to 4.68% (representing 63,62,015 shares)

as at March 31, 2012.

(D) Rights, Preference and Restriction attached to Shares

The Company has one class of Equity Shares having par value of Rs. 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.

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		135.993	135.993	135.993
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		4217.896	3704.540	3125.123
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		4353.889	3840.533	3261.116
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.500	45.875
TOTAL BORROWING		0.000	0.500	45.875
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		4353.889	3841.033	3306.991
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2544.229	2550.449	2469.478
Capital work-in-progress		693.825	82.143	61.888
INVESTMENT		471.165	387.390	210.007
DEFERREX TAX ASSETS		120.997	168.434	179.003
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	2176.799	1536.992	1105.536
	Sundry Debtors	872.657	753.045	97.688
	Cash & Bank Balances	3098.054	3951.477	3475.844
	Other Current Assets	72.206	81.027	54.834
	Loans & Advances	1246.042	829.212	1173.547
Total Current Assets		7465.758	7151.753	5907.449
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	3690.133	3785.524	3739.867
	Other Current Liabilities	2179.420	2130.582	526.676
	Provisions	1072.532	583.030	1254.291
Total Current Liabilities		6942.085	6499.136	5520.834
Net Current Assets		523.673	652.617	386.615
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		4353.889	3841.033	3306.991

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	26932.267	22861.155	19624.592
		Other Income	506.851	412.432	984.572
		TOTAL (A)	27439.118	23273.587	20609.164
Less	EXPENSES
		Cost of Materials Consumed	8938.698	7395.188	7768.429
		Purchase of Stock-in-Trade	1996.959	1622.976	0.000
		Employee Benefits Expense	2156.077	1932.233	1590.735
		Other Expenses	8488.675	7063.604	6026.336
		Changes in inventories of Finished Goods, Work-in-Progress and Stock-in-Trade	(433.440)	(298.506)	0.000
		TOTAL (B)	21146.969	17715.495	15385.500
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		6292.149	5558.092	5223.664
Less	FINANCIAL EXPENSES (D)		15.128	16.112	0.000
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		6277.021	5541.980	5223.664
Less/ Add	DEPRECIATION/ AMORTISATION (F)		393.112	342.495	375.679
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		5883.909	5199.485	4847.985
Less	TAX (H)		1419.196	1173.652	615.403
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		4464.713	4025.833	4232.582
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		NA	NA	288.398
Less	APPROPRIATIONS
		First Interim Dividend	NA	NA	1087.943
		Second Interim Dividend	NA	NA	951.950
		Third Interim Dividend	NA	NA	679.964
		Dividend Tax	NA	NA	458.367
		Transfer to General Reserve	NA	NA	423.258
	BALANCE CARRIED TO THE B/S		NA	NA	919.498
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	314.390	199.618	165.989
		Services Rendered	679.519	513.879	472.446
	TOTAL EARNINGS		993.909	713.497	638.435
	IMPORTS
		Raw Materials	855.125	491.100	597.129
		Stock In Trade	245.272	122.449	75.802
		Stores & Spares	60.899	43.918	77.870
		Capital Goods	294.035	77.058	150.362
	TOTAL IMPORTS		1455.331	734.525	901.163
	Earnings Per Share (Rs.)		32.83	29.60	31.12

QUARTERLY RESULTS

PARTICULARS	30.06.2012	30.09.2012	31.12.2012
	1^st Quarter	2^nd Quarter	3^rd Quarter
Net Sales	7560.900	7924.200	7837.700
Total Expenditure	5936.400	6166.400	6338.400
PBIDT (Excl OI)	1624.500	1757.800	1499.300
Other Income	112.200	148.700	117.400
Operating Profit	1736.700	1906.500	1616.700
Interest	0.000	0.000	0.000
Exceptional Items	0.000	0.000	0.000
PBDT	1736.700	1906.500	1616.700
Depreciation	105.100	106.000	113.200
Profit Before Tax	1631.600	1800.500	1503.500
Tax	457.400	349.700	393.000
Provisions and contingencies	0.000	0.000	0.000
Profit After Tax	1174.200	1450.800	1110.500
Extraordinary Items	0.000	0.000	0.000
Prior Period Expenses	0.000	0.000	0.000
Other Adjustments	0.000	0.000	0.000
Net Profit	1174.200	1450.800	1110.500

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	16.27	17.30	20.54
Net Profit Margin (PBT/Sales)	(%)	21.85	22.74	24.70
Return on Total Assets (PBT/Total Assets}	(%)	58.08	52.68	56.66
Return on Investment (ROI) (PBT/Networth)		1.35	1.35	1.49
Debt Equity Ratio (Total Debt /Networth)		0.00	0.00	0.01
Current Ratio (Current Asset/Current Liability)		1.06	1.10	1.07

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	No
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)	Yes
21]	Market information	-----
22]	Litigations that the firm / promoter involved in	-----
23]	Banking Details	No
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	No
31]	Date of Birth of Proprietor/Partner/Director, if available	No
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	No

FACILITIES

Unsecured Loan	Rs. In Millions 31.03.2012	Rs. In Millions 31.03.2011
Loan from Third Party (to be repaid on December 31, 2012)	0.000	0.500
TOTAL	0.000	0.500

PLATINUM JUBILEE YEAR OF THE COMPANY

This is a very special year as the Company completes very successful 75 years in 2012. Over these years, the Company has won the trust and loyalty of consumers and stakeholders. The Company is celebrating not just the length of the journey since 1937, but also the manner in which this length was travelled and the foundation of ethics and values on which Company built the business over these years.

BUSINESS PERFORMANCE

The Company’s strong performance continued in 2011-12, despite difficult economic conditions coupled with fierce competition, and high inflationary market conditions resulting in higher input cost. The depreciation of Rupee also imposed severe challenges during the year. Despite such challenging environment, the Company achieved a healthy double-digit sales growth during the year 2011-12. Sales for the year increased by 18 per cent at Rs. 26240.000 Millions as against Rs. 22210.000 Millions during the previous year. The toothpaste business registered an impressive volume growth of 14 per cent during the year.

The profit before tax for the financial year 2011-12 was Rs. 5880.000 Millions as against Rs. 5200.000 Millions during the previous year. During the year, the Company significantly increased its investment in the brand and equity building activities by 18 per cent i.e. Rs. 630.000 Millions. Despite this additional investment coupled with the lower deduction under the income-tax regulations on the profits of the Baddi manufacturing facility resulting in higher year-on-year tax payments of Rs. 250.000 Millions, the profit after tax for the financial year 2011-12 was Rs. 4460.000 Millions as against Rs. 4030.000 Millions during the previous year.

Cash generation continued to be strong arising from significant improvements in the business performance, efficiencies and cost savings across the organization and a continued efficient collection system. The Company managed investments prudently by deployment of the surplus funds after ensuring that such investments satisfy the Company’s criteria of safety and security.

The Company continued to achieve excellent business results year after year despite the testing market environment. This has been possible due to several key initiatives which focused on consumers, dental professionals, retail customers with a stronger focus on innovation, greater effectiveness and efficiency everywhere, while strengthening organizational leadership.

MOST TRUSTED BRAND

In the year 2011, the Brand Equity’s Most Trusted Brand Survey ranked the Company as the #1 Most Trusted Brand of the year. Colgate has also been rated as India’s #1 Most Trusted Brand across all categories for four consecutive years from 2003 to 2007. It is the only brand to be ranked in the top 3 from 2001-2011.

NEW PROJECTS

To support the growth momentum and to cater to the increasing requirement of the products, the Company has acquired a plot of land from Gujarat Industrial Development Corporation on long-term lease for setting up a new Toothpaste manufacturing facility. The new manufacturing facility is expected to be operational in the year 2013.

The Company has also acquired in April 2012 a plot of land from Sri City Private Limited on long-term lease for setting up a new Toothbrush manufacturing facility in Andhra Pradesh. The new manufacturing facility is expected to be operational in the year 2013.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

The Company is engaged in the Personal Care business which includes Oral Care. The Oral Care business continues to account for over 90 per cent of the Company’s sales turnover.

Almost one-third of the Indian population does not have access to modern Oral Care. The per capita consumption of toothpaste is about 138 gms – one of the lowest in the world. The national epidemiological study on the status

of oral health in the country showed that dental caries (tooth decay) is prevalent in 63% of 15 year olds and as much as 80% amongst adults in the age group of 35-44 years and periodontal diseases (gum diseases) are prevalent in 68% of 15 year olds and as much as 90% amongst adults in the age group of 35-44 years. To address this situation, the Company in partnership with the Indian Dental Association has started conducting intensive two-month long awareness campaigns in October and November under the banner ‘Oral Health Month’ annually. The aim of this campaign is to create oral health awareness and motivate people to adopt preventive self-care habits to improve their oral health.

This was one more step in the Company’s longstanding effort to spread the message of good oral health and encourage the use of modern and efficacious dentifrice products.

To help its objective of expanding the dentifrice market, the Company has designed its product portfolio in such a manner that its products are available at different price points to cater to the requirements of consumers across all segments.

While the predominant business of the Company has been confined to the Oral Care category where it continues to face intense competition, the outlook for industry is positive given the size of the opportunity. The Company believes that through a combination of powerful marketing strategies, innovative new products, market development and expansion activities, the dentifrice market in India and the Company’s business will continue to grow strongly in the next several years.

The Company has good internal control systems, the adequacy of which has been reported by its auditors in their report. The discussion on financial performance of the Company is covered in the Directors’ Report. There has been no material development on human resources and industrial relations continue to be positive. The number of people employed as on March 31, 2012 was 1978.

FIXED ASSETS

Intangible Assets

· Goodwill and Trademarks

· Copyrights and Design

· Technical Know-how

Tangible Assets

· Land-Leasehold

· Buildings

· Plant and Machinery

· Furniture and Equipment

· Vehicle

STATEMENT OF UNAUDITED RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2012

(Rs. in millions)

Sr. No.	Particular	Quarter Ended		Year Ended
		31.12.2012 (Unaudited)	30.09.2012 (Unaudited)	31.12.2012 (Unaudited)
1.	Net Sales/Income from Operations	7837.700	7924.200	23322.800
2.	Expenditure
	Cost of Material Consumed	2504.800	2578.900	7344.600
	Purchase of Stock In Trade	590.100	566.500	1729.600
	Change in Inventories of Finished Goods, Work-In-Progress and Stock In Trade	(50.400)	92.900	205.800
	Employee Benefits Expenses	631.100	543.000	1798.300
	Depreciation and Amortization Expenses	113.200	106.000	324.300
	Advertising	998.500	889.200	2724.900
	Other Expenses	1664.300	1495.900	4638.000
	f) Total	6451.600	6272.400	18765.500
3.	Profit From Operations before Other Income, Interest and Exceptional Items (1-2)	1386.100	1651.800	4557.300
4.	Other Income	117.400	148.700	378.300
5.	Profit Before Interest and Exceptional Items (3+4)	1503.500	1800.500	4935.600
6.	Interest	--	--	--
7.	Profit After Interest but before Exceptional Items (5-6)	1503.500	1800.500	4935.600
8.	Exceptional Items	--	--	--
9.	Profit from Ordinary Activities before Tax (7+8)	1503.500	1800.500	4935.600
10.	Tax Expense	393.000	349.700	1200.100
11.	Net Profit from Ordinary Activities after Tax (9-10)	1110.500	1450.800	3735.500
12.	Extraordinary Item (net of expense)	--	--	--
13.	Net Profit for the period (11-12)	1110.500	1450.800	3735.500
14.	Paid-up Equity Share Capital (Face Value of Rs.10/- Each)	136.000	136.000	136.000
15.	Reserves Excluding Revaluation Reserve	--	--	--
16.	Basic and Diluted Earning Per Share (EPS) (Rs.)-Not Annualised	8.17	10.67	27.47
17.	Public Shareholding
	-Number of Shares	66636481	66636481	66636481
	- Percentage of Shareholding	49%	49%	49%
18.	Promoters and Promoter Group Shareholding
	a) Pledged/Encumbered
	- Number of Shares	Nil	Nil	Nil
	- Percentage of Shares (as a % of the Total Shareholding of promoter and promoter group)	Nil	Nil	Nil
	- Percentage of Shares (as a % of the Total Share Capital of the Company)	Nil	Nil	Nil
	b) Non Encumbered
	- Number of Shares	69356336	69356336	69356336
	- Percentage of Shares (as a % of the Total Shareholding of Promoter and Promoter Group)	100%	100%	100%
	- Percentage of Shares (as a % of the Total Share Capital of the Company)	51%	51%	51%

Information on investor complaints pursuant to Clause 41 of the Listing Agreement for the quarter ended December 31, 2012.

Nature of complaints *	Received during the quarter	Resolved during the quarter
Non receipt of dividend warrants	1	1
Non receipt of share certificates lodged for transfer or capital reduction	--	--
Others	--	--
* Excludes disputed cases and sub-judice matters.

NOTES

(i) Net Sales for the nine months and quarter ended December 31, 2012 increased by 17% and 14% respectively over the same period of the previous year.

(ii) Net Profit before Tax for the nine months and quarter ended December 31, 2012 is Rs. 4935.600 Millions and Rs. 1503.500 Millions respectively as against Rs. 4156.100 Millions and Rs. 1485.400 Millions respectively for the similar period of the previous year despite increased advertising expenditure.

(iii) The Company declared a Second Interim Dividend of Rs. 816.000 Millions (Rs. 6 per share) on December 10, 2012, which was paid on December 27, 2012.

(iv) In accordance with the requirements of Accounting Standard -17, Segment Reporting, the Company's business segment is 'Personal Care' (including Oral Care) and hence it has no other primary reportable segments.

(v) There are no exceptional and extraordinary items.

(vi) Previous period/ year figures have been reclassified to conform with current period/ year presentation, where applicable.

The Statutory Auditors have carried out a Limited Review of the Financial results of the quarter ended December 31, 2012 as per Clause 41 of the Listing Agreement.

WEBSITE DETAILS

PROFILE

From a modest start in 1937, when hand-carts were used to distribute Colgate Dental Cream Toothpaste, Colgate-Palmolive (India) today has one of the widest distribution networks in India – a logistical marvel that makes Colgate available in almost 4.93 million retail outlets across the country. The Company has grown to a Rs. 28050.000 Millions plus organization with an outstanding record of enhancing value for its strong shareholder base. The company leads the Rs. 52000.000 Millions Indian toothpaste market by holding 53.2% of the market share.

Since 1976, Colgate has worked in close partnership with the Indian Dental Association (IDA) to spread the message of oral hygiene to children across the country under its ‘Bright Smiles, Bright Futures’ Schools Dental Education Program. This program has successfully reached more than 105 million school children covering around  2,34,756 schools  across the country since its launch. The program focuses on children so that the message of good oral hygiene is carried home to families and the community at large. In 2004, as an additional effort to create awareness for good oral hygiene ‘Oral Health Month’ (OHM), was introduced. Since its launch, OHM is conducted each year during September / October, where free dental checkups are conducted by Colgate in partnership with IDA across the country. Conducted in designated towns and cities to establish and promote the importance of good oral hygiene, OHM is Colgate’s mass consumer contact program.

The strong relationship and the trust of generations of consumers, trade and the dental profession built over decades of operations in India has made Colgate a trusted household name. In 2009, Colgate-Palmolive (India) was adjudged as the Best Value Creator (Mid C ap Category) in the 2009 Outlook Money NDTV Profits Awards. In 2003, Colgate was ranked India’s #1 Most Trusted Brand across all categories by Brand Equity’s Most Trusted Brand Survey conducted in conjunction with Neilsen – a position it held in succession for four consecutive years from 2003 to 2007 and has been the only brand in the top three coveted position in all the 8 surveys conducted since 2001. Prior to this, Colgate was also rated as the #1 brand by the A&M – MODE Annual Survey for India’s Top Brands for eight out of nine years during the period 1992 to 2001

MANAGEMENT

PRABHA PARAMESWARAN - MANAGING DIRECTOR

Ms. Prabha Parameswaran joined Colgate-Palmolive, India in 1995. She has since, held a series of significant positions in New York in Global Business Development Oral Care and in Global Toothbrush Division. She was responsible for developing oral care strategies and new products where she provided critical leadership to subsidiaries in setting category and commercial strategies. Ms.Parameswaran was Marketing Director for Personal Care and Home Care categories in Greater Asia Division, prior to taking over as Vice-President - Marketing, Colgate-Palmolive India, in September 2007. Prabha then led the Marketing organization in Colgate-Palmolive, Mexico as Marketing Director. Under her leadership, the sales and market shares of the subsidiary performed strongly. With her broad based experience across categories in Global, Division and Subsidiary roles combined with her strong leadership and proven marketing skills, Prabha, in her current role, will continue to drive growth in the Indian Market.

GODFREY NTHUNZI - EXECUTIVE VICE-PRESIDENT - FINANCE

Mr. Godfrey Nithunzi initially joined Colgate-Palmolive South Africa in 1993 as Internal Audit Manager and was promoted to Budgets and Planning Manger. In 1996, he left Colgate to join Bristol Myers Squibb as Finance Director going on to become the Commercial Director. Godfrey rejoined Colgate-Palmolive South Africa in 2001 as Finance Director. He helped strengthen the financial health of the subsidiary, leading to increased sales and profitability. Godfrey also contributed to the successful implementation of several business building projects and the implementation of a very successful funding the growth program. Most recently, Godfrey was Finance Director of Colgate-Palmolive, Canada, where he contributed to the improvement in the subsidiary’s margins and overall profitability whilst growing market shares. He was also instrumental in raising the financial awareness of the commercial team which has contributed in putting the Canadian business on a path to sustainable top-line growth, while delivering profitable growth. Godfrey holds a Bachelor of Commerce degree in Accounting and completed his MBA at the University of the Witwatersrand in South Africa. Godfrey is a Chartered Accountant.

NIKET GHATE - VICE PRESIDENT, LEGAL AND COMPANY SECRETARY

Mr. Niket Ghate joined Colgate-Palmolive, India in August 2011 and was appointed Vice President - Legal and Company Secretary. Prior to this, Niket was the Executive Vice President and General Counsel at Patni Computer Systems. Niket has 21 years of valuable experience in the streams of Law like Litigation, Contract negotiations, Corporate Governance and Mergers and Acquisitions.  Prior to Patni Computer Systems Mr.Niket Ghate worked with Transocean,  KPMG, Carrier Air-conditioners, Tata- Lucent Technologies in roles of increasing responsibilities. Niket holds a Bachelor of Law (LLB) degree from the University College of Law, Nagpur, India, and, is also a Company Secretary affiliated to the Institute of Company Secretaries of India and Institute of Chartered Secretaries and Administrators of United Kingdom.

AJITH BABU - MARKETING DIRECTOR

Mr. Ajith Babu joined Colgate-Palmolive, India in December 2012 and was appointed Marketing Director. Ajith’s broad based experience in global and regional roles, in operations and innovations, position him well to drive continued growth at Colgate-Palmolive, India. Most recently, Ajith was the Vice President for the Skin Care category in South Asia and Global Brand Vice President for Fair and Lovely at Hindustan Unilever. Prior to this, Ajith was spearheading the South Asian skin cleansing, face & body care portfolio and was instrumental in the turnaround of the India skin cleansing market share, leading the growth in hand & body care and driving the Fair & Lovely brand growth. Before assuming his skin care role, Ajith was the Regional Category Vice President for Home Care for Africa, Middle East and Turkey, responsible for developing and executing the category/ brand plans in countries as diverse as Turkey, Arabia, South Africa, Nigeria, Morocco, Ghana, Kenya etc. Ajith started his career at Hindustan Unilever in 1990 as an Area Sales Manager post completion of the management trainee program and progressed through positions of increasing responsibility in sales and marketing. He holds a MBA degree in Marketing from Indian Institute of Management, Ahmedabad and Bachelor of Technology degree in Mechanical Engineering from Regional Engineering College, Calicut.

M CHANDRASEKAR - VICE PRESIDENT, CUSTOMER DEVELOPMENT

Mr. M Chandrasekar joined the company in 1989 in Customer Development. Since 2006, he progressed in positions of increasing responsibilities across the Customer Development organization in India. He has over 20 years of rich and varied experience within the Customer Development. He brings with him a wealth of experience from various assignments in Colgate-Palmolive. Since 2006, M Chandrasekar has been Customer Development Team Leader at Chennai. During his tenure, he delivered strong business growth across the geography. He consistently delivered sales through strong commercial discipline and by focusing on people development and enhancing team capabilities. Most recently, Chandrasekar led the Colgate-Palmolive India rural task force that has provided valuable insights to drive growth and distribution in the rural markets.

SHASHANK POTNIS - DIRECTOR, GLOBAL TECHNOLOGY CENTRE

Dr. Shashank Potnis joined the company in 2004 and progressed in positions of increasing responsibilities across the Research and Development Organization in India. He currently leads the India Global Technology Centre (IGTC) which supports Colgate India, Greater Asia, Africa Middle East and Eurasia Divisions to meet their research and development needs.  Within the Research and Development Industry, Dr. Shashank Potnis has over 20 years of rich and varied experience, having worked with multinationals such as BASF and ICI India Limited, in areas such as pharmaceuticals, surfactants and polymers. Shashank holds a Ph.D. in Organic Chemistry from India. He will focus on driving business growth with new product innovations and implementation of global bundles, support manufacturing and supply chain to ensure speed to market and will continue analytical, microbiology and clinical programs to meet global needs of the Company. In addition, he will drive external collaborative research programs for the Company, in partnership with the Global Technology Centre in USA.

LAURENCE WHEELER - EXECUTIVE VICE-PRESIDENT, MANUFACTURING AND SUPPLY CHAIN

Mr. Laurence Wheeler joined Colgate New Zealand in 1988 and has held a series of significant positions in Colgate-Palmolive Company's subsidiaries at New Zealand, Papua New Guinea, Australia, South Africa. Most recently Laurence was the Director of Manufacturing for Colgate-Palmolive, Philippines where he vastly improved the manufacturing operations and performance. Laurence will be responsible for the overall Manufacturing Operations and Supply Chain within India and Nepal. He will focus his efforts on optimizing all manufacturing operations, delivering superior customer service, improving product quality and EOH and S while continuing to reduce the total delivered product cost.

ADITYA SINGH - VICE-PRESIDENT, HUMAN RESOURCES

Mr Aditya Singh initially joined Colgate-Palmolive, India in 1994 in Human Resources and was with the company till 2004. During this period, Aditya made significant contributions in organizational development, rewards and performance management, succession planning, employee and industrial relations. He re-joined the company in 2008 as Vice-President - HR. In the interim he was Director - Corporate Human Resources and Global Consumer Health Care at Ranbaxy Laboratories Limited. Aditya has varied experience in the field of HR leadership and management combined with Finance (treasury and insurance) and non-life insurance (Operations Business Development).

SARALA MENON - VICE PRESIDENT, CUSTOMER SERVICE AND LOGISTICS

Ms. Sarala Menon joined Colgate-Palmolive India in December 1997 and was appointed Vice President, Customer Service and Logistics, in July 2009. She has over 20 years of rich and varied experience within the supply chain. With her vast experience in the fields of research, sourcing, logistics and planning, Sarala will focus on strengthening the alignment between the supply chain and the commercial organization, enabling the company to closely focus on the customer and the shopper to deliver growth, innovation and increase speed. She is a gold medalist in Chemical Engineering (National Institute of Technology, Warangal) and an MBA from Narsee Monjee Institute of Management Studies, Mumbai.

Manu Mehrotra - Vice President, Toothbrush Category Supply Chain

Mr. Manu Mehrotra joined Colgate-Palmolive at the Aurgangabad manufacturing plant in India in 1989. Progressing through positions of increasing responsibility in manufacturing, he moved  to the Regional Technology Centre in India in 1999 and soon took over the responsibilities of Senior Technology Leader for the Africa/Middle East Division, contributed significantly to technology transfer, quality up-gradation and margin improvement. In 2004, Manu became Associate Director of the Himachal Project, responsible for the entire project, setting up Colgate's new toothpaste manufacturing plant at Baddi. Under his leadership, the team delivered outstanding results in both performance and safety. Manu has been appointed to the current position, having most recently been the Director, Global Quality for Toothbrushes, where he was responsible for all quality initiatives and compliance, creating an organization that supported the transition to global categories. In his new role, Manu will be responsible for toothbrush production in India. Prior to joining Colgate, Manu was the Technical Manager for Hindustan Lever Limited.

 BOARD OF DIRECTORS

MUKUL DEORAS – CHAIRMAN

Mr. Mukul Deoras joined Colgate-Palmolive in 2004 as Director, Special Projects for the Asia Pacific Division. He later became General Manager of Colgate-Palmolive, Thailand where he led the team through significant sales and profit growth achieving record high market shares in oral and personal care products. In 2008, Mukul was appointed as Vice President and General Manager - Personal Care, Colgate Palmolive Company, New York. Under his leadership, the Global Personal Care business delivered strong organic growth in 2008-09 with outstanding improvement in its profitability in a challenging economic environment. Mukul took over as Managing Director, Colgate-Palmolive India in February 2010 and led the Indian business to deliver strong organic growth over last two years. He has recently taken over as the President Asia Division. He was appointed non-retiring Director and Chairman to the Colgate Palmolive (India) Ltd Board from 1 February 2012.

R. A. SHAH - VICE-CHAIRMAN

Mr. R. A. Shah is a leading Solicitor and a Senior Partner of M/s Crawford Bayley and Company, a firm of Solicitors and Advocates. He specialises in a broad spectrum of corporate laws. He is also the Chairman/Member of audit committees of a number of public limited companies in India. Appointed Vice-Chairman on the CPIL Board from 23 May 1983.

P. K. GHOSH - DEPUTY CHAIRMAN

Mr. P. K. Ghosh is a Fellow of the Institute of Chartered Accountants of India and a former Managing Director of Colgate-Palmolive, India. Since 1974, he served the Company in various capacities. Mr. Ghosh brings to the CPIL Board, his rich experience and understanding of the consumer product business and the Company stands to benefit significantly from his expertise. Appointed Dy. Chairman on the CPIL Board from 1 July 1988.

PRABHA PARAMESWARAN - MANAGING DIRECTOR

Ms. Prabha Parameswaran joined Colgate-Palmolive, India in 1995. She has since, held a series of significant positions in New York in Global Business Development Oral Care and in Global Toothbrush Division. She was responsible for developing oral care strategies and new products where she provided critical leadership to subsidiaries in setting category and commercial strategies. Ms.Parameswaran was Marketing Director for Personal Care and Home Care categories in Greater Asia Division, prior to taking over as Vice-President - Marketing, Colgate-Palmolive India, in September 2007. Prabha then led the Marketing organization in Colgate-Palmolive, Mexico as Marketing Director. Under her leadership, the sales and market shares of the subsidiary performed strongly. With her broad based experience across categories in Global, Division and Subsidiary roles combined with her strong leadership and proven marketing skills, Prabha, in her current role, will continue to drive growth in the Indian Market. Appointed as Managing Director to the CPIL Board from 1 February 2012

GODFREY NTHUNZI - WHOLE-TIME DIRECTOR AND CHIEF FINANCIAL OFFICER

Mr. Godfrey Nithunzi initially joined Colgate-Palmolive South Africa in 1993 as Internal Audit Manager and was promoted to Budgets & Planning Manger. In 1996, he left Colgate to join Bristol Myers Squibb as Finance Director going on to become the Commercial Director. Godfrey rejoined Colgate-Palmolive South Africa in 2001 as Finance Director. He helped strengthen the financial health of the subsidiary, leading to increased sales and profitability. Godfrey also contributed to the successful implementation of several business building projects and the implementation of a very successful funding the growth program. Most recently, Godfrey was Finance Director of Colgate-Palmolive, Canada, where he contributed to the improvement in the subsidiary’s margins and overall profitability whilst growing market shares. He was also instrumental in raising the financial awareness of the commercial team which has contributed in putting the Canadian business on a path to sustainable top-line growth, while delivering profitable growth. Godfrey holds a Bachelor of Commerce degree in Accounting and completed his MBA at the University of the Witwatersrand in South Africa. Godfrey is a Chartered Accountant.

NIKET GHATE - WHOLE-TIME DIRECTOR AND COMPANY SECRETARY

Mr. Niket Ghate joined Colgate-Palmolive, India in August 2011 and was appointed Vice President - Legal and Company Secretary. Prior to this, Niket was the Executive Vice President and General Counsel at Patni Computer Systems. Niket has 21 years of valuable experience in the streams of Law like Litigation, Contract negotiations, Corporate Governance and Mergers and Acquisitions.  Prior to Patni Computer Systems Mr. Niket Ghate worked with Transocean,  KPMG, Carrier Air-conditioners, Tata- Lucent Technologies in roles of increasing responsibilities. Niket holds a Bachelor of Law (LLB) degree from the University College of Law, Nagpur, India, and, is also a Company Secretary affiliated to the Institute of Company Secretaries of India and Institute of Chartered Secretaries and Administrators of United Kingdom. Appointed Whole-time Director to the CPIL Board from 1 October 2011.

VIKRAM SINGH MEHTA – DIRECTOR

Mr. Vikram Singh Mehta is Chairman of the Shell Group of companies in India since 1994. His illustrious career began as Member of the Indian Administrative Service of the Government of India. Mr. Mehta has held Advisory positions with world-renowned petroleum companies and the Indian Government's Ministry of Petroleum. Appointed Director to the CPIL Board from 25 October 2001.

J. K. SETNA – DIRECTOR

Mr. J. K. Setna is a trustee of the N.M. Wadia Charities and its associated Trusts and also Director on the Board of Governors of Escorts, Heart Institute and Research Centre. Mr. Setna is a special permanent invitee to the Executive Council of Indo-American Chamber of Commerce. He is Chairman/Director for a number of Indian and foreign body corporates. Appointed Director to the CPIL Board from 21 September 1978.

INDU SHAHANI - NON-EXECUTIVE DIRECTOR

Dr. (Mrs.) Indu Shahani, the Hon'ble Sherriff of Mumbai, is an academician. Since 2000 she has been the Principal of HR College of Commerce and Economics in Mumbai. She is on several boards of large national organizations prominent among these are the Indian Oil Corporation, HSBC, Bajaj Electricals Limited and Eureka Forbes Limited. A doyen in the field of academics, Dr. (Mrs.) Indu Shahani has over three decades of teaching experience at the college and university level. She is also a member of the University Grants Commission (UGC); serves as an Advisor to the International Baccalaureate (IB) in India, and Chairperson, Unitedway, Mumbai. Dr Shahani was awarded the Honorary Doctor of Letters degree by the University of Westminister in London. Appointed as Non-Executive Director to the CPIL Board from 23 January 2012.

NEWS

ONE IN EVERY THREE INDIANS SUFFER FROM GUM PROBLEMS AT LEAST ONCE A MONTH

Survey conducted by Colgate-Palmolive (India) Limited and GFK Mode reveals that gum bleeding and soreness are the most common gum problems in India

• The national capital tops the list of sufferers of gum problems
• Gum bleeding and soreness are the most prevalent gum problems with highest occurrence during brushing teeth

Mumbai, January 11, 2013: A new oral care survey conducted across 8 Indian cities by Colgate-Palmolive (India) Limited and GFK Mode has revealed that one in every three Indians suffer from gum problems at least once a month. The survey also highlights that maximum instances of gum bleeding are encountered during the brushing of teeth. If ignored and unattended in the earlier stages of gum bleeding, pain or soreness, the problem gets aggravated to detrimental gum diseases like pyorrhea, gingivitis and periodontitis.

The most frequently encountered gum problems are bleeding and soreness of gums, with more than 80% people facing these concerns at least once. The survey however goes to show that these symptoms are not considered to be threatening by most people. Only 43% of people suffering from gum bleeding, actually seek consultation from a dentist, while more than 35% opt for home remedies like drinking warm water, applying clove and salt.

The survey was conducted across 8 cities - New Delhi, Mumbai, Kolkata, Chennai, Lucknow, Bhubaneswar, Nagpur and Madurai with a sample size of 2044 consumers. Surprisingly, New Delhi has seen the most number of gum problem sufferers, while Chennai emerged as the healthier counterpart, yet far from the global average of 15%.  44% people in New Delhi have experienced gum problems in the last one year. In Chennai about 10% people have faced gum related issues.

Reflecting on the findings of the survey, Ajith Babu - Marketing Director, Colgate-Palmolive (India) Limited, “Oral care problems can best be avoided through early detection and primary prevention. This recent survey on gum care has revealed the magnitude of gum problems faced by Indian consumers and the alarming negligence towards this issue. Gum problems are the most serious oral care concerns with long term repercussions. This survey results should serve as an eye-opener to consumers and encourage them towards adopting better oral care habits and to choose the right product to address their concerns.”

Dr. Porus Turner, M.D.S., M.Sc. (Oral Implantology) said, “Oral health is very important and critical for overall well-being. Research has shown that gum problems are the most frequent, yet most ignored aspect of oral health. Gum problems are caused by improper brushing, leading to plaque and tartar build up in the gums. Lack of timely dental intervention, makes the gums pull away from the teeth, infecting the bones and connective tissue that support the teeth, which could eventually lead to tooth loss. Gum problems if not treated in time could also be the source of other oral care problems like tooth decay, sensitivity and bad breath. While home remedies can reduce the intensity of the symptoms and provide short-term relief, it is essential to treat the root cause of the problem with everyday use of toothpaste, which effectively works on the cause of the problem, to help prevent any major complications in the future.”

Several other research studies have also shown a higher incidence of gum disease among those suffering from systemic diseases like diabetes, cancer, pregnancy etc. Alarmingly in Asia, bleeding gums and inflammation is the 2nd biggest oral problem, even higher than the global average.

About Colgate-Palmolive (India) Limited

Colgate-Palmolive (India) Limited is India’s leading provider of scientifically proven oral care products with multiple benefits at various price points. The range includes toothpastes, toothpowder, toothbrushes and mouthwashes under the “Colgate” brand, as well as a specialized range of dental therapies under the banner of Colgate Oral Pharmaceuticals. These have become an essential part of daily oral hygiene and therapeutic oral care in India. The Company also provides a range of personal care products under the ‘Palmolive’ brand name. Colgate has been ranked as India’s #1 Most Trusted Brand across all categories for four consecutive years from 2003 to 2007 and in 2011 and 2012 by Brand Equity’s Most Trusted Brand Survey. It is the only brand to be in the top three from 2001-2012.

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. 54.70
UK Pound	1	Rs. 82.78
Euro	1	Rs. 71.42

INFORMATION DETAILS

Report Prepared by :

DPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	9
PAID-UP CAPITAL	1~10	8
OPERATING SCALE	1~10	9
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	8
--PROFITABILIRY	1~10	8
--LIQUIDITY	1~10	8
--LEVERAGE	1~10	8
--RESERVES	1~10	8
--CREDIT LINES	1~10	8
--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	YES
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		74

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.