(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. Ltd., 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
(B) 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.
(A) During the previous year, pursuant to the Scheme of Amalgamation
(the Scheme) sanctioned by the order dated August 11, 2010 of the
High Court of Judicature at Andhra Pradesh, CC Healthcare Products
Private Limited (CCH), 100% subsidiary of the Company, engaged in
the business of manufacturing of toothpowder, has been amalgamated with
the Company with effect from April 1, 2009. The amalgamation has been
accounted as per the Scheme which is in accordance with the Pooling
of Interests method as prescribed by Accounting Standard (AS-14),
''Accounting for Amalgamations''.
In accordance with the said Scheme:
i) the assets and liabilities of CCH have been taken over by the
Company with effect from April 1, 2009 and have been recorded at their
respective book values.
ii) General Reserve and Surplus in the Statement of Profit and Loss
aggregating Rs 2,56.27 Lacs as on April 1, 2009 of CCH has been
transferred to General Reserve.
iii) 2,00,000 Equity Shares of Rs 10 each fully paid in CCH held as an
investment by the Company stands cancelled. The deficit of Rs 1,52.89
Lacs between the net assets and reserves taken over from CCH and the
book value of investment held by the Company in CCH, after adjustment
of dividend payable by CCH, have been adjusted to General Reserve.
(A) There are no delays in payments to Micro and Small enterprises as
required to be disclosed under the Micro, Small and Medium Enterprises
Development Act, 2006. The information regarding Micro and Small
enterprises has been determined to the extent such parties have been
identified on the basis of information available with the Company.
Note 1 : Contingent Liabilities and Commitments
(To the extent not provided for)
(A) Contingent Liabilities
Claims against the Company not acknowledged as debts :
- Excise and Related Matters 39,40.70 41,91.42
- Service Tax Matters 4,78.15 5,30.49
- Income Tax Matters 3,10.93 3,10.93
- Provident Fund Matters 7.37 7.37
- Commercial Matters 1,69.13 1,55.41
Future cash flow in respect of the above, if any, is determinable only
on receipt of judgements/decisions pending with the relevant
(A) The amount of excise duty disclosed as deduction from turnover is
the total excise duty for the year except the excise duty related to
the difference between the closing stock and opening stock and excise
duty paid but not recovered, which has been disclosed as
''Increase/(Decrease) in Excise Duty on Finished Goods'' in Note 26.
(A) Voluntary Retirement Scheme was offered to the employees at the
toothpowder factory in Hyderabad during the year. All the employees
have availed the benefit of the said Scheme (Cost Rs 8,22 Lacs) and the
manufacturing operations have discontinued.
I. The Guidance Note issued by Actuarial Society of India on
Implementing AS-15 issued by the Accounting Standard Board (ASB) of the
Institute of Chartered Accountants of India states that Provident Funds
set up by employers that guarantee a specified rate of return and which
require interest shortfall to be met by the employer would be Defined
Benefit Plans in accordance with paragraph 26(b) of AS-15. Pursuant to
the Guidance Note, the actuarial valuation carried out as at March 31,
2012 has determined the liability in respect of the shortfall of
interest earnings of Fund as Nil. As per the actuarial valuation
report, the interest shortfall liability being Other Long-term
Employee Benefits, detailed disclosures as prescribed in the
Accounting Standard are not required.
(A) Research and Development expenses of the year for the Company
aggregates Rs 5,03.40 Lacs (Previous Year : Rs 4,32.71 Lacs)
Note 2 : Segment Information
In accordance with the requirements of Accounting Standard-17
Segment Reporting, the Company has identified Business Segment as
its primary segment. The Company''s Business Segment is Personal
Care (including Oral Care) and hence it has no other primary
reportable segments. Non Reportable Segment has been disclosed as
unallocated reconciling item. Segment revenue and Segment expenses have
been accounted on the basis of their relationship to the operating
activities of the Company. Assets and liabilities which relate to the
enterprise as a whole and are not allocable to the segment on a
reasonable basis have been included under unallocated
assets/liabilities. Revenue and expenses pertaining to non reportable
segment have been disclosed as unallocated results.
Note 3 : Reversal in Current Tax pertaining to prior year includes
reversals for Fringe Benefit Tax of Rs 1,90.19 Lacs (Previous Year : Rs
Note 4 : Appointment of P. Parameswaran (Ms.) as the Managing Director
of the Company effective February 1, 2012, is pending receipt of
approval from the Central Government and approval of the Shareholders
of the Company will be sought at the ensuing Annual General Meeting.
During the year, an aggregate remuneration of Rs 61.29 Lacs has been
paid to her.
Note 5 : The financial statements for the year ended March 31, 2011
were prepared as per the then applicable, erstwhile Schedule VI to the
Companies Act, 1956. Consequent to the notification of Revised Schedule
VI under the Companies Act, 1956, the financial statements for the year
ended March 31, 2012 are prepared as per Revised Schedule VI.
Accordingly, the previous year figures have also been reclassified to
conform to this year''s classification. The adoption of Revised
Schedule VI for previous year figures does not impact recognition and
measurement principles followed for preparation of financial