MIRA INFORM REPORT

 

 

Report Date :

01.10.2014

 

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) :

31.03.2014

 

 

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 :

A Public Limited Liability Company.  The Company’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :

Manufacturer of Toothpaste and Tooth Powder, Tooth Brush and Mouth Wash.

 

 

No. of Employees :

1702 (Approximately)

 

 

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

 

Status :

Excellent 

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exist

 

 

Comments :

Subject is a well-established and reputed company having excellent track record.

 

Financial position of the company seems to be sound. There are no external borrowing recorded by the company during 2014. Fundamentals are strong and healthy.

 

Trade relations are reported as trustworthy. Business is active. Payment terms are reported to be regular and as per commitment.

 

The company can be considered good for 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.

 

INDIAN ECONOMIC OVERVIEW

 

N E W S

 

Verdict Implications: Apex court order may alter coal import dynamics. Traders go slowly on talks over coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.

 

Recent arrest of the Chennai head of the Registrar of Companies, the ministry of corporate affairs arm that ensures that companies file all the information required by the Companies Act is the latest manifestation of a messy fight between a father and his adopted son for the control of Rs 40000 mn Business Empire. The Central Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as bribe from M a M Ramaswamy, a CBI official said.

 

Central Bureau of Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.

 

Infosys maintains revenue guidance. COO Rao says attrition still an area of concern and it would take a few more quarters to bring down levels to 13-15 %.

 

DHL to invest Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its e-commerce business model for the Asia-Pacific region.

 

Blackstone may buy stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.

 

Kingfisher Airlines Ltd grounded in October 2012 under the weight of heavy debt and accumulated losses, recently approached the Delhi high court for relief in two separate cases. The airline challenged a notice by Punjab & National Bank alleging that it had wilfully defaulted on Rs 7700 mn of loans and sought more time to comply with the requirements under the listing agreements with the Stock Exchanges.

 

OnMobile likely to sack another 300 employees. The lay-offs follow a spate of senior-level exits over the past two years, starting with of its founder. The overall lay-offs could number around 600 and are driven by the need to cut costs, says a former employee.

 

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 31-03-2014.

 

 

INFORMATION DENIED

 

Management Non Co-Operative (91-22-67095050)

 

 

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 431136, Maharashtra, India

 

 

Factory 2 :

Plot No. 78, EPIP Phase I, Jharmajri, Baddi, District Solan – 174103, Himachal Pradesh, India

 

 

Factory 3 :

Plot No. 154, 158 and 160, Kundaim Industrial Estate, Kundaim – 403115, Goa, India

 

 

Factory 4 :

Premises No. 44-617/11, Road No.7, IDA, Nacharam, Hyderabad - 500076, Andhra Pradesh, India

 

 

Factory 5 :

Plot No. SM-02, Sanand – II, GIDC Industrial Area, Near BOI Village, Sanand - 382170, Gujarat, India

 

 

Factory 6 :

6000 Central Expressway, Sricity, Satyavedu (M), Chittoor District, Andhra  Pradesh, India

 

 

DIRECTORS

 

As on 31.03.2014

 

Name :

Ms. V. Deoras

Designation :

Chairman

 

 

Name :

Ms. P. Parameshwaran

Designation :

Managing Director

DIN No.:

05159215

 

 

Name :

Mr. R.A. Shah

Designation :

Non-executive Independent Director (Vice-Chairman)

 

 

Name :

Mr. P.K. Ghosh

Designation :

Non-executive Independent Director (Deputy Chairman)

 

 

Name :

Mr. J.K. Setna

Designation :

Non-executive Independent Director

 

 

Name :

Mr. V.S. Mehta

Designation :

Non-executive Independent Director

 

 

Name :

Dr. I Shahani

Designation :

Non-executive Independent Director

 

 

Name :

Mr. G. Nthunzi

Designation :

Whole Time Director and Chief Executive Officer

 

 

Name :

Mr. N Ghate

Designation :

Whole-time Director and Company Secretary

 

KEY EXECUTIVES

 

AUDIT COMMITTEE :

 

 

Name :

Mr. R. A. Shah

Designation :

Chairperson of the Committee

 

 

Name :

Mr. P. K. Ghosh

Designation :

Chairperson of the Committee

 

 

Name :

Mr. J. K. Setna

Designation :

Chairperson of the Committee

 

 

Name :

Mr. V. S. Mehta

Designation :

Chairperson of the Committee

 

 

Name :

Dr. I. Shahani

Designation :

Chairperson of the Committee

 

 

Name :

Mr. N. Ghate

Designation :

Secretary of the Committee

 

 

MANAGEMENT COMMITTEE :

 

 

Name :

Ms. P. Parameshwaran

Designation :

Managing Director

 

 

Name :

Mr. G. Nthunzi

Designation :

Finance

 

 

Name :

Mr. N. Ghate

Designation :

Legal

 

 

Name :

Mr. A. Babu

Designation :

Marketing

 

 

Name :

Mr. M. Chandrasekar

Designation :

Customer Development

 

 

Name :

Dr. S. Potnis

Designation :

India Global Technology Centre

 

 

Name :

Mr. M. Yajid

Designation :

Supply Chain (Toothpaste)

 

 

Name :

Mr. A. Singh

Designation :

Human Resources

 

 

Name :

Ms. S. Menon

Designation :

Customer Services & Logistics

 

 

Name :

Mr. M. Mehrotra

Designation :

Supply Chain (Toothbrush)

 

 

SHAREHOLDERS’/INVESTORS’ GRIEVANCE COMMITTEE :

 

 

Name :

Mr. J. K. Setna

Designation :

Chairperson of the Committee

 

 

Name :

Ms. P. Parameshwaran

Designation :

Chairperson of the Committee

 

 

Name :

Mr. P. K. Ghosh

Designation :

Chairperson of the Committee

 

 

Name :

Mr. N. Ghate

Designation :

Chairperson of the Committee

 

 

BUSINESS RESPONSIBILITY REPORTING COMMITTEE :

 

 

Name :

Ms. P. Parameshwaran

Designation :

Chairperson of the Committee

 

 

Name :

Mr. N. Ghate

Designation :

Chairperson of the Committee

 

 

Name :

Mr. A. Singh

Designation :

Chairperson of the Committee

 

 

Name :

Mr. M. Mehrotra

Designation :

Chairperson of the Committee

 

 

Name :

Ms. H. Mehta

Designation :

Head, Communications

 

 

CORPORATE SOCIAL RESPONSIBILITY COMMITTEE

 

 

Name :

Dr. I. Shahani (Ms.)

Designation :

Chairperson of the Committee

 

 

Name :

Ms. P. Parameshwaran

Designation :

Chairperson of the Committee

 

 

Name :

Mr. N. Ghate

Designation :

Chairperson of the Committee

 

 

Name :

Ms. H. Mehta

Designation :

Chairperson of the Committee

 

 

NOMINATION AND REMUNERATION COMMITTEE [CONSTITUTED ON 21.01.2014] :

 

 

Name :

Mr. R. A. Shah

Designation :

Chairperson of the Committee

 

 

Name :

Mr. V. S. Mehta

Designation :

Chairperson of the Committee

 

 

Name :

Mr. M. V. Deoras

Designation :

Chairperson of the Committee

 

 

RISK MANAGEMENT COMMITTEE [CONSTITUTED ON 23.05.2014] :

 

 

Name :

Mr. P. K. Ghosh

Designation :

Chairperson of the Committee

 

 

Name :

Ms. P. Parameshwaran

Designation :

Chairperson of the Committee

 

 

Name :

Mr. N. Ghate

Designation :

Chairperson of the Committee

 

 

Name :

Mr. G. Nthunzi

Designation :

Chairperson of the Committee

 

 

Name :

Mr. A. Singh

Designation :

Chairperson of the Committee

 

 

SHAREHOLDING PATTERN

 

As on 30.06.2014

 

Category of Shareholder

No. of Shares

Percentage of Holding

(A) Shareholding of Promoter and Promoter Group

 

 

http://www.bseindia.com/include/images/clear.gif(1) Indian

 

 

http://www.bseindia.com/include/images/clear.gif(2) Foreign

 

 

http://www.bseindia.com/include/images/clear.gifBodies Corporate

69356336

51.00

http://www.bseindia.com/include/images/clear.gifSub Total

69356336

51.00

Total shareholding of Promoter and Promoter Group (A)

69356336

51.00

(B) Public Shareholding

 

 

http://www.bseindia.com/include/images/clear.gif(1) Institutions

 

 

http://www.bseindia.com/include/images/clear.gifMutual Funds / UTI

1386261

1.02

http://www.bseindia.com/include/images/clear.gifFinancial Institutions / Banks

131616

0.10

http://www.bseindia.com/include/images/clear.gifCentral Government / State Government(s)

188644

0.14

http://www.bseindia.com/include/images/clear.gifInsurance Companies

7338282

5.40

http://www.bseindia.com/include/images/clear.gifForeign Institutional Investors

28054194

20.63

http://www.bseindia.com/include/images/clear.gifQualified Foreign Investor

3030

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

37102027

27.28

http://www.bseindia.com/include/images/clear.gif(2) Non-Institutions

 

 

http://www.bseindia.com/include/images/clear.gifBodies Corporate

1429425

1.05

http://www.bseindia.com/include/images/clear.gifIndividuals

 

 

http://www.bseindia.com/images/clear.gifIndividual shareholders holding nominal share capital up to Rs.0.100 million

27212063

20.01

http://www.bseindia.com/images/clear.gifIndividual shareholders holding nominal share capital in excess of Rs.0.100 million

231501

0.17

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

661465

0.49

http://www.bseindia.com/include/images/clear.gifNon Resident Indians

493846

0.36

http://www.bseindia.com/include/images/clear.gifTrusts

164399

0.12

http://www.bseindia.com/include/images/clear.gifForeign Nationals / OCB

3220

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

29534454

21.72

Total Public shareholding (B)

66636481

49.00

Total (A)+(B)

135992817

100.00

(C) Shares held by Custodians and against which Depository Receipts have been issued

0

0.00

http://www.bseindia.com/include/images/clear.gif(1) Promoter and Promoter Group

0

0.00

http://www.bseindia.com/include/images/clear.gif(2) Public

0

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

0

0.00

Total (A)+(B)+(C)

135992817

100.00

 

 

           

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Toothpaste and Tooth Powder, Tooth Brush and Mouth Wash.

 

Products :

Product Description

Item Code (ITC CODE)

Toothpaste

330610.02

Tooth Powder

330610.01

Toothbrush

960321.00

 

Brand Name :

“COLGATE”

 

 

GENERAL INFORMATION

 

No. of Employees :

1702 (Approximately)

 

 

Bankers :
  • The Hongkong And Shanghai Banking Corporation Limited
  • Anz Grindlys Bank Limited
  • Bank of America

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Price Waterhouse

Chartered Accountants

 

 

Solicitors :

  • Crawford Bayley and Company

 

 

Ultimate Holding Company:
  • Colgate-Palmolive Company, U.S.A.

 

 

Group Companies where common control exists :

  • 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
  • Colgate-Palmolive Temizlik, Urunleri, Turkey
  • Colgate-Palmolive Cameroun S.A., Cameroun
  • Colgate-Palmolive Romania srl.
  • 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 Europe SARL
  • Colgate Palmolive Bt. Limited, Blantyre, Malawi
  • Colgate Oral Pharmaceuticals Inc. Carrollton, U.S.A.
  • Colgate-Palmolive Senegal
  • Colgate-Palmolive Gabon
  • Colgate-Palmolive Italia S.r.l., Italy
  • Colgate Philippines Inc.
  • Colgate-Palmolive Canada Inc.
  • Colgate-Palmolive Pty. Limited, Australia

 
  •  

 

 

CAPITAL STRUCTURE

 

As on 31.03.2014

 

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

 

 

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

 

                      i.        54476347 (Previous Year: 54476347) Equity Shares are held by Colgate-Palmolive Company, U.S.A., the Ultimate Holding Company.

 

                     ii.        14879426 (Previous Year: 14879426) 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 the number of shares

 

Equity Shares

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

 

Name of Shareholder

Number of Shares

% holding

Colgate-Palmolive Company, U.S.A.

54476347

40.06

Colgate-Palmolive (Asia) Pte. Limited, Singapore

14879426

10.94

Oppenheimer Developing Market Fund

7361930

5.41

 

 

(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

 

31.03.2014

31.03.2013

31.03.2012

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

135.993

135.993

135.993

(b) Reserves & Surplus

5,862.793

4,759.921

4,217.896

(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)

5,998.786

4,895.914

4,353.889

 

 

 

 

(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

7.465

8.442

7.617

(d) long-term provisions

248.586

349.006

300.607

Total Non-current Liabilities (3)

256.051

357.448

308.224

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

5,099.667

4,666.198

3,690.133

(c) Other current liabilities

2,829.435

2,501.798

2,171.803

(d) Short-term provisions

703.560

646.414

771.925

Total Current Liabilities (4)

8,632.662

7,814.410

6,633.861

 

 

 

 

TOTAL

14,887.499

13,067.772

11,295.974

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

5,559.080

2,806.632

2,544.229

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

1,415.050

1,019.563

693.825

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

371.348

371.348

471.165

(c) Deferred tax assets (net)

177.836

224.447

120.997

(d)  Long-term Loan and Advances

625.619

702.950

225.301

(e) Other Non-current assets

20.550

12.461

3.648

Total Non-Current Assets

8,169.483

5,137.401

4,059.165

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

99.817

0.000

(b) Inventories

2,257.427

1,852.983

2,176.799

(c) Trade receivables

547.342

812.114

872.657

(d) Cash and cash equivalents

2,869.538

4,287.963

3,098.054

(e) Short-term loans and advances

1,027.041

844.707

1,020.741

(f) Other current assets

16.668

32.787

68.558

Total Current Assets

6,718.016

7,930.371

7,236.809

 

 

 

 

TOTAL

14,887.499

13,067.772

11,295.974

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

35,788.063

31,638.056

26,932.267

 

 

Other Income

503.206

499.232

506.851

 

 

TOTAL                                     (A)

36,291.269

32,137.288

27,439.118

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

11,294.101

9,915.474

8,938.698

 

 

Purchase of Stock-in-Trade

2,993.815

2,364.440

1,996.959

 

 

Changes in inventories of Finished

Goods, Work-in-Progress and Stock-in-Trade

(267.680)

221.970

(433.440)

 

 

Employee Benefits Expense

2,117.775

2,494.380

2,156.077

 

 

Other Expenses

13,009.949

10,073.696

8,488.675

 

 

Exceptional Items 

(643.798)

0.000

0.000

 

 

TOTAL                                     (B)

28,504.162

25,069.960

21,146.969

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

7,787.107

7,067.328

6,292.149

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

0.000

0.000

15.128

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

7,787.107

7,067.328

6,277.021

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

507.545

436.989

393.112

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                              (G)

7,279.562

6,630.339

5,883.909

 

 

 

 

 

Less

TAX                                                                  (H)

1,880.862

1,662.795

1,419.196

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

5,398.700

4,967.544

4,464.713

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

1,192.092

1,146.821

1,079.94

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

 

First Interim Dividend

1,223.935

1,767.907

1,087.94

 

 

Second Interim Dividend

1,223.935

815.957

1,223.94

 

 

Third Interim Dividend

1,223.935

1,223.935

1,087.94

 

 

Dividend Tax

624.023

617.720

551.536

 

 

Transfer to General Reserve

539.870

496.754

446.471

 

BALANCE CARRIED TO THE B/S

1,755.094

1,192.092

1,146.826

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

481.907

351.789

314.390

 

 

Services Rendered

321.246

782.906

679.519

 

TOTAL EARNINGS

803.153

1134.695

993.909

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

1325.635

1126.475

855.125

 

 

Stores & Spares

349.130

258.484

245.272

 

 

Capital Goods

1261.274

251.256

60.899

 

 

Others

88.076

42.825

294.035

 

TOTAL IMPORTS

3024.115

1679.04

1455.331

 

 

 

 

 

 

Earnings Per Share (Rs.)

39.70

36.53

32.83

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

PAT / Total Income

(%)

14.88

15.46

16.27

 

 

 

 

 

Net Profit Margin

(PBT/Sales)

(%)

20.34

20.96

21.85

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

56.33

57.89

58.78

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

1.21

1.35

1.35

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.00

0.00

0.00

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.78

1.01

1.09

 

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

Rs. In Millions

Rs. In Millions

Rs. In Millions

Share Capital

135.993

135.993

135.993

Reserves & Surplus

4217.896

4759.921

5862.793

Net worth

4353.889

4895.914

5998.786

 

 

 

 

long-term borrowings

0.000

0.000

0.000

Short term borrowings

0.000

0.000

0.000

Total borrowings

0.000

0.000

0.000

Debt/Equity ratio

0.000

0.000

0.000

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

Rs. In Millions

Rs. In Millions

Rs. In Millions

Sales

26,932.267

31,638.056

35,788.063

 

 

17.473

13.117

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

Rs. In Millions

Rs. In Millions

Rs. In Millions

Sales

26,932.267

31,638.056

35,788.063

Profit

4,464.713

4,967.544

5,398.700

 

16.58%

15.70%

15.09%

 

LOCAL AGENCY FURTHER INFORMATION

 

CURRENT MATURITIES OF LONG TERM DEBT IS NOT AVAILABLE

 

 

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

Yes

5]

Type of Business

Yes

6]

Line of Business

Yes

7]

Promoter's background

Yes

8]

No. of employees

Yes

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

No

32]

PAN of Proprietor/Partner/Director, if available

No

33]

Voter ID No of Proprietor/Partner/Director, if available

No

 

 

LITIGATION DETAILS

 

HIGH COURT OF BOMBAY

CASE DETAILS

BENCH: BOMBAY

Lodging No: ITRL/60/2009     Filing Date: 05.05.2009

Petitioner: THE COMMISSIONER OF INCOME TAX MUMBAI   Respondent: COLGATE PAMOLIVE (INDIA)

                                                                                                                     LIMITED

Petn. Adv : INCOME TAX TRIBUNAL (0)

 

District: BOMBAY

Bench: SINGLE

 

Status: Pre-Admission                                                                Category: INCOME TAX REFERENCES.

 

Last Date: 01.12.2009                                               Stage: INCOME TAX REFERENCE FOR REJECTION U/R

                                                                       986 OF THE H.C. (O.S) RULES 1980

 

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

 

 

BUSINESS PERFORMANCE

 

Their Country witnessed unprecedented challenges during Financial Year 2013-14. These challenges were high inflation, including food inflation, which rose to 13.2 per cent in the month of October 2013 and low GDP growth at 4.4 per cent along with unprecedented volatility in currency. The Reserve Bank of India kept a tight monetary policy in the Financial Year 2013-14 and interest rates at elevated level to bring down the inflation. As a result of these factors and weak sentiments, consumer confidence declined resulting in slowing down of consumption in most categories of FMCG sector.

 

According to Neilson, market researcher, FMCG growth in Urban Market was 8 per cent, while in Rural Market, the growth was 12 per cent. Overall, FMCG growth, as per the report, slowed down to 9 per cent in 2013, half of the previous year as the consumers cut down on the discretionary spend or down traded to cheaper products.

 

Despite such a challenging environment and increased competitive intensity, The Company delivered strong results.

 

The Company’s business continues to grow strongly in double digits. Sales for the year increased by 15 per cent at Rs.35448.800 Millions as against Rs.30841.100 Millions during the previous year. The toothpaste business registered a very strong volume growth of 9 per cent during the year.

 

 

The profit before tax (including exceptional item) during the year was Rs.7279.600 Millions, an increase of 10 per cent over the previous year. The profit after tax (including exceptional item) also increased, standing at Rs.5398.700 Millions an increase of 9 per cent over the previous year. The Company also invested in building new plants at Anand (Gujarat) and Sricity (Andhra Pradesh). The Company strengthened its leadership position in the toothpaste category to 57.1 per cent from 55.4 per cent. Similarly, market share in toothbrush category was strengthened to 42.3 per cent from 41.3 per cent. During the year, The Company also focused on bringing in consumer appealing innovation as well as adopting various innovative strategies to increase the distribution and penetration in rural markets.

 

 

UNAUDITED FINANCIAL RESULTS FOR THE    QUARTER ENDED 30TH JUNE 2014

 (Rs. In Millions)

Particulars

Quarter Ended

( Unaudited)

 

30.06.2014

1. Income from operations

 

a) Net sales/ Income from operation (net of excise duty)

9506.400

b) Other operating income

62.600

Total income from Operations(net)

9569.000

2.Expenditure

 

a) Cost of material consumed

2876.800

b) Purchases of stock in trade

701.400

c) Changes in inventories of finished goods, work-in-progress and stock-in-trade

(5.900)

d) Employees benefit expenses

583.900

e) Depreciation and amortization expenses

165.500

f) Advertising and sales expenses

1805.500

g) Other expenditure

1670.700

Total expenses

7797.900

3. Profit from operations before other income and financial costs

1771.100

4. Other income

64.500

5. Profit from ordinary activities before finance costs

1835.600

6. Finance costs

0.000

7. Net profit/(loss) from ordinary activities after finance costs but before exceptional items

1835.600

8. Exceptional item

0.000

9. Profit from ordinary activities before tax Expense:

1835.600

10.Tax expenses

486.500

11.Net Profit / (Loss) from ordinary activities after tax (9-10)

1349.100

12.Extraordinary Items (net of tax expense)

0.000

13.Net Profit / (Loss) for the period (11 -12)

1349.100

14.Paid-up equity share capital (Nominal value Rs.10/- per share)

136.000

15. Reserve excluding Revaluation Reserves as per balance sheet of previous accounting year

 

16. Basic and diluted Earnings per share (before extraordinary items) (not annualised):

9.92

 

 

Particulars

Quarter Ended

( Unaudited)

 

30.06.2014

A. Particulars of shareholding

 

1. Public Shareholding

 

- Number of shares

66636481

- Percentage of shareholding

49.00%

2. Promoters and Promoters group Shareholding-

 

a) Pledged /Encumbered

 

Number of shares

Nil

Percentage of shares (as a % of total shareholding of the promoter and promoter group)

Nil

Percentage of shares (as a % of total share capital of the company)

Nil

 

 

b) Non  Encumbered

 

Number of shares

69356336

Percentage of shares (as a % of total shareholding of the promoter and promoter group)

100.00%

Percentage of shares (as a % of total share capital of the company)

51.00%

 

Notes:

 

i.      Net Sales for the quarter ended June 30, 2014 increased by 13% over the same period of the previous year.

 

ii.     Net profit after tax (before exceptional item net of tax) for the quarter ended June 30, 2014 of Rs.1349.100 Millions is up by 4% over the same period of the previous year of Rs.1291.500 Millions.

 

iii.    There are no 'Exceptional Items' for the current quarter ended June 30, 2014. 'Exceptional Items' for the quarters ended March 31, 2014 and June 30, 2013 and for the year ended March 31, 2014 represents total consideration after adjustments to relevant assets and liabilities, on the transfer of the whole of the Company's "Global Shared Service Organisation" (GSSO Division) as a going concern, by way of a slump sale to Colgate Global Business  Services Private Limited (CGBSPL), a 100% subsidiary of the ultimate holding company, Colgate-Palmolive Company, U.S.A. with effect from June 01, 2013.

 

iv.    The Company had declared a third interim dividend of Rs.1223.900 Millions (Rs.9 per share) on March 27, 2014, which was paid on April 16, 2014.

The Company has identified 'Personal Care (including Oral Care)' as its only primary reportable segment in accordance with the requirements of Accounting Standard (AS) - 17, Segment Reporting. Accordingly, it is not considered necessary to provide separate segment information.

 

v.     There are no extraordinary items.

 

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

 

vii.   The Statutory Auditors have carried out a Limited Review of the financial results of the quarter ended June 30, 2014 as per Clause 41 of the Listing Agreement.

 

viii.  The above results have been reviewed by the Audit Committee and approved by the Board of Directors at their Meeting held July 25, 2014.

 

 

INDEX OF CHARGE:

 

Sr. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

90119029

29/12/2000

60,000,000.00

The Hongkong and Shanghai Banking Corporation Limited

30, Rajaji Salai, Chennai, Tamil Nadu - 600001, India

-

2

90065019

30/03/2000 *

30,000,000.00

Anz Grindlys Bank Limited

90 ; M.G. Road Branch, Fort, Mumbai, Maharashtra - 400001, India

-

3

90118834

29/08/1998

35,000,000.00

The Hongkong and Shanghai Banking Corporation Limited

52/60; Hahatma Gandhi Road, Fort, Mumbai, Maharashtra - 400001, India

-

4

90065440

31/12/1992

9,000,000.00

Anz Grindlys Bank Limited

90 ; M.G. Road Branch, Fort, Mumbai, Maharashtra - 400001, India

-

5

90114951

08/05/1992

7,000,000.00

Anz Grindlys Bank Limited

90 ; M.G. Road Branch, Fort, Mumbai, Maharashtra - 400001, India

-

6

90114915

30/07/1998 *

22,500,000.00

ANZ GRINDLYS BANKv LIMITED

6-3-1090; Rajbahawan Road, Somaji Guda, Hyderabad, Andhra Pradesh - 500082, India

-

7

90114788

20/07/1990

7,500,000.00

Bank of America

P.O. No-10080, Mumbai, Maharashtra - 400001, India

-

8

90114725

08/03/1990

8,650,000.00

Bank of America

P.O. No-10080, Mumbai, Maharashtra - 400001, India

-

 

 

FIXED ASSETS:

·         Land

·         Building

·         Plant and Machinery

·         Computer

·         Vehicles

·         Furniture and Fixture

NEWS:

COLGATE’S 1Q NET SALES UP 13%, NET PROFIT UP 4%

 

Mumbai, July 25, 2014

 

Financial Highlights


1Q 2014-15 : Colgate-Palmolive (India) Limited today reported net sales of  Rs.9506.000 crore for the first quarter of the financial year 2014-15, a 13% increase over the same period of the previous year and Net Profit After Tax of Rs.1349.000 crore with Earnings Per Share of Rs.9.92, an increase of 4% over the same quarter of the previous year excluding exceptional item in the previous year relating to the slump sale of Global Shared  Services Organisation to Colgate Global Business Services Private Limited, a 100% subsidiary of Colgate-Palmolive Company, USA.

 

Driving Growth


Colgate was ranked #1 Most Chosen Consumer Brand in India for the third consecutive year by Global Consumer Knowledge and Insights firm, Kantar Worldpanel’s Brand Footprint report.

 

Colgate has also been ranked India’s #1 Most Trusted Brand across all categories by Brand Equity’s Most Trusted Brand Survey for three years in a row and is the only brand to feature in the top three since the inception of the survey twelve years ago.

 

The Company posted a strong volume growth of 5% for the quarter and continued to enhance its leadership position in Toothpaste category by registering a volume market share of 57.0% for the period Jan’14-Jun’14, an increase of 110 basis points over the same period of the previous year. The flagship brands “Colgate Dental Cream”, “Active Salt”, “Max Fresh” and “Colgate Total” along with the recently launched “Visible White” have contributed to this growth.

 

The Company further strengthened its leadership position in the Toothbrush category by registering a volume market share of 42.6% for Jan’14-Jun’14, an increase of 140 basis points over the same period of the previous year.

 

Innovation


During the quarter, the company launched a new toothpaste, Colgate Maximum Cavity Protection plus Sugar Acid Neutralizer with a first of its kind technology to fight the no.1 cause of cavities – Sugar Acids. This technological breakthrough works in two ways- neutralizes harmful sugar acids, the main cause of cavity formation while making teeth stronger with calcium and fluoride.


Colgate also introduced a beauty-oral care breakthrough with the new Colgate Visible White teeth whitening treatment. Following the phenomenal success of the Colgate Visible White toothpaste which was voted product of the year 2014 in the toothpaste category by consumer research firm, Nielsen, a novel whitening regimen was created to include Colgate 360 Visible White toothbrush and mouthwash offering a holistic approach for visibly whiter teeth.

 

In the toothbrush category, after the successful launch last year of the Colgate Slim Soft toothbrush with its unique tapered bristle technology last year, the Company has launched another line extension of this variant, Colgate Slim Soft Charcoal toothbrush with 17 times slimmer tip bristles (versus ordinary toothbrushes) that help reach tight spaces in between teeth and along the gum line. This striking black colored toothbrush has unique charcoal coated bristles that help remove plaque bacteria. These features make it very differentiated and a one of a kind in the toothbrush category today.

 

The above stream of innovations reflects the Company’s continued commitment to growing the oral care category by creating new segments through innovation and technologically advanced products

 

Funding Growth


The Company’s strong focus on driving efficiencies and reducing costs and innovating to drive premiumisation coupled with  prudent price increases has led to significant Gross Margin expansion by 130 basis points.

 

About Colgate-Palmolive


Subject 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.

           

 

 

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.61.61

UK Pound

1

Rs.100.28

Euro

1

Rs.78.21

 

 

INFORMATION DETAILS

 

Information Gathered by :

GYT

 

 

Analysis Done by :

RAS

 

 

Report Prepared by :

NKT

 

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

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

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

 

 

 

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.