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Annual Report 2014-15 PDF | Hindustan Unilever LimitedHindustan Unilever FOR FURTHER INFORMATION ON OUR ECONOMIC, ENVIRONMENTAL AND SOCIAL PERFORMANCE, PLEASE VISIT OUR WEBSITE: WWW.HUL.CO.IN Annual Report 2014-15 HINDUSTAN UNILEVER LIMITED Registered Office: Unilever House, B. D. Sawant Marg, Chakala, Andheri (East), Mumbai - 400 099 CIN : L15140MH1933PLC002030 HUL INVESTOR RELATIONS APP MAKING Scan the code given below to download the HUL Investor Relations App for iOS and Android SUSTAINABLE LIVING COMMONPLACE ANNUAL REPORT 2014-15 Awards and Recognition FINANCIAL YEAR 2014-15 SAW MANY SUCCESSES. SOME OF THE ACHIEVEMENTS ARE LISTED BELOW. 1 2 3 4 1 BrandZTM Awards 2 ‘Client of the Year’ at Effies 3 Dun and Bradstreet Corporate Awards 4 Greentech Award OUR BRANDS • HUL was recognised as the ‘Top Indian SUSTAINABILITY • HUL was the No. 1 Indian company to Company’ in FMCG sector at Dun & • HUL’s Project Shakti received the feature on the Forbes list of the World’s Bradstreet Corporate Awards. ‘Porter Prize’ for ‘Creating Shared Most Innovative Companies. Value’. • HUL was ranked No. 3 in Fortune • HUL’s mobile radio channel ‘Kan India’s list of most admired companies. • HUL’s Silvassa manufacturing cluster Khajura Tesan’ won three Gold Lions at was conferred the prestigious Sankalp the Cannes International Festival of • HUL ranked No. 3 in the 2014 Global Award 2014 by the Administration of Creativity. Aon Hewitt Top Companies for Leaders Dadra and Nagar Haveli for the survey. outstanding work done in uplifting the • Ten HUL brands featured in the first region under the USLP-linked ‘Prabhat’ ever BrandZ™ Top 50 Most Valuable • HUL earned the highest recognition of initiative. Indian Brands ranking. ‘Leadership in HR Excellence’ across industries at the 5th Confederation of • HUL won ‘Best Overall CSR Practices’ • The Kissanpur campaign won Silver at Indian Industry (CII) National HR at the Global CSR Excellence & the Jay Chiat Strategic Excellence Excellence Awards 2014. Leadership Awards. Awards 2014. • HUL won the ICAI CSR Awards for Best • HUL was the ‘Client of the Year’ at OUR OPERATIONS CSR Projects under two categories Effies 2014 and ‘Media Client of the • HUL’s Nasik factory won the – Health and Environment. Year’ at Emvies 2014. Vasundhara Award for environment management performance. OUR PEOPLE • HUL received the ‘Frost and Sullivan • HUL is the ‘No. 1 Employer of Choice’ Award’ for Excellence in FMCG Supply across all sectors for the 2015 Chain. graduating batch of B-School students according to Nielsen Campus Track-B • HUL’s legal team was awarded the UNILEVER SUSTAINABLE LIVING PLAN (USLP) School Survey. ‘best in house compliance team’ by Legal Era. The USLP is our key differentiator. It is our blueprint footprint of the making and use of our products, and • HUL was the ‘Dream Employer’ for to drive sustainable growth and has three big goals, enhancing the livelihoods of millions of people sixth year in a row according to Nielsen • HUL’s Haridwar factory won Gold at i.e. improving the health and well-being of more than across our value chain. Campus Track-B School Survey. Greentech Environment Award 2015 in a billion people, reducing the environmental the FMCG sector. Produced by Hindustan Unilever Limited. Creative Consultants: AICL Communications Limited ([email protected]) | Printed at Burda Druck India Pvt. Ltd. Our purpose OUR PURPOSE IS TO MAKE SUSTAINABLE LIVING COMMONPLACE. WE SEE IT AS THE BEST, LONG-TERM WAY FOR OUR BUSINESS TO GROW. Our clear Purpose helps us to remain Sustainable Living Plan (USLP), which has would miss considerable savings from distinct in the eyes of consumers, retailers economic benefits and operates across all more sustainable packaging and and suppliers. our brands, markets and our entire less waste. value chain. It also means we can set an ambitious We would also risk the disapproval of Vision – to double the size of the business Even when markets are tough we cannot governments, regulators and NGOs, and whilst reducing our environmental ignore sustainability. If we did, this would our brands could suffer reputational footprint and increasing our positive diminish the future resilience of Hindustan damage, representing serious economic social impact. Unilever Limited (HUL) for its long-term loss to the business. shareholders. We would miss out on the To meet our growth ambition we invest in growing consumer preference for goods That’s why sustainability is at the heart of people whose talent will help us win that do not damage the environment or everything we do to ensure we have a through our brands and innovation, exploit people. viable long-term business that is attractive unrivalled execution in the market place to investors. and a relentless focus on continuous Our entire business would rely on improvement for greater efficiency. increasingly rare and expensive raw materials, pushing up our costs. Without Our environmental and social ambitions more efficient use of energy our are driven through the Unilever production costs would increase while we ONLINE You can find more information about Hindustan Unilever Limited online at www.hul.co.in. For the latest information on the USLP visit www.hul.co.in/sustainable-living-2015. CONTENTS Overview Reports Financial Statements 20 Hindustan Unilever at a Glance 12 Notice of the Annual General Meeting 04 Financial Performance 62 Profile of Directors Standalone Financial Statements 05 Performance Trends (seeking Appointment / Re-appointment) 8 Economic Value Added 06 Chairman’s Statement 82 Directors’ Report and Management 09 Independent Auditors’ Report 70 Board of Directors Discussion and Analysis 94 Balance Sheet 08 About Us 6 Corporate Governance Report 59 Statement of Profit and Loss 01 Our Business Model 68 Secretarial Standards Report 69 Cash Flow Statement 11 Delivering Value Secretarial Audit Report 89 Notes 12 Our Brands 14 Our People Consolidated Financial Statements 16 Our Operations 145 Independent Auditors’ Report 81 Unilever Sustainable Living Plan 152 Balance Sheet 20 Management Committee 153 Statement of Profit and Loss 154 Cash Flow Statement 156 Notes 198 Form AOC-1 Shareholder information 200 Investor Safeguards 201 Corporate Information • Proxy Form hINDUSTAN Unilever at a glance WHO WE ARE ways of doing business that will reduce • Domestic Consumer business grew by Hindustan Unilever Limited is one of the our environmental footprint and increase 10% with 5% underlying volume leading fast-moving consumer goods our positive social impact. growth, both ahead of market. companies in India. We own some of the best-known and best-loved brands like • Profit before interest and tax (PBIT) Dove, Lifebuoy, Surf, Kissan, Bru and OPERATIONAL HIGHLIGHTS grew by 17% with PBIT margin Pureit. We are passionate about them and Despite the challenging environment, we improving +90 bps, even as we proud of the way they help people get more have delivered another year of strong sustained competitive investment out of life. performance with broad-based growth behind our brands. ahead of the market and sustained margin improvement. We remained focused on • The strong track record of cash WHAT WE DO strengthening the core of our business generation was maintained as cash We build our brands and develop our through innovation, leading market from operations exceeded Rs. 5,000 products through extensive consumer development and continuous improvement crores for yet another year. insight, relentless innovation, and of our executional capabilities. Our crystal-clear design and marketing. This is strategy is well on track as we delivered on • Total dividend of Rs. 15 per share was a powerful blend that helps us excite and our goals of consistent, competitive, declared for the Financial Year. inspire our customers and consumers. We profitable and responsible growth. are committed to making sustainable • We continued to make good progress living commonplace and developing new on our sustainability priorities. SEGMENTAL PERFORMANCE SEGMENTAL REVENUE (%) SEGMENTAL RESULTS (%)) Soaps and Detergents 48.4 Soaps and Detergents 39.6 Personal Products 29.3 Personal Products 47.2 Beverages 11.8 Beverages 12.0 Packaged Foods 6.2 Packaged Foods 1.6 Others 4.3 Others -0.3 2 Hindustan Unilever at a Glance Hindustan Unilever Limited Overview Reports Financial Statements Shareholder Information OUR KEY PERFORMANCE INDICATORS Report starting on page 28 gives details of our performance in We report our performance against key financial and each of the business segments and functions. Details of the non-financial performance indicators below. The Directors’ progress made on the Unilever Sustainable Living Plan (USLP) commitments are given on pages 18 and 19. FINANCIAL NET REVENUE OPERATING PROFIT EPS (BASIC) CASH FROM OPERATIONS 2014-15 2014-15 2014-15 2014-15 Rs. 30,806 Rs. 4,922 Rs. 19.95 Rs. 5,000+ crores crores per share crores The Domestic Consumer Operating profit grew by Last year basic EPS: Cash from operations was business grew by 10% with 17% with operating margins Rs. 17.88 per share up Rs. 42 crores over the 5% underlying volume improving +90 bps previous year growth in a challenging environment NON-FINANCIAL MANUFACTURING 2014 2014 2014 2014 38 37% 44% 88% 2013: 35 2013: 27% 2013: 37% 2013: >84% Manufacturing units with Reduction in CO per tonne Reduction in water use per Reduction in total waste per 2 100% zero non-hazardous of production compared to tonne of production tonne of production waste to landfill 2008 baseline compared to 2008 baseline compared to 2008 baseline
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