Professional Documents
Culture Documents
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History
Hindustan Unilever is Indias largest fast moving consumer goods company. The Anglo company Unilever holds an majority stake of 52%. HUL was formed in 1933 as Lever Brothers India Limited and came into being in 1956 as Hindustan Lever Limited through a merger of Lever Brothers, Hindustan Vanaspati Mfg. Co. Ltd. and United Traders Ltd.
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Headquarters at Mumbai
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Brands
HUL has brands in almost all FMCG sectors like Food brands like 3 roses, Brooke bond Annapurna etc. Home care brands like Rin, Wheel, Domex etc. And several other personal, Water, nutrition and health related brands.
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Empirical data
Net Sales =17524 crores Net profit=2202 crores Earning per share=Rs.10.10 Economic Value added=1791 crores
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As on the date of this report, the Board consists of 9 Directors comprising 4 Executive Directors, one Non-Executive Director and 4Independent Directors. The Chairman of the Board is a Non-Executive Director
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Board of directors
Mr. Harish Manwani on the left is the Chairman and Mr. Nitin paranjpe is CEO and Managing Director.
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Corporate Governance
I believe that nothing can be greater than a business, however small it may be, that is governed by conscience; and that nothing can be meaner or more petty than a business, however large, governed without honesty and without brotherhood. -William Hesketh Lever
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Companys approach to CG
Transparency and accountability are two basic tenets of corporate governance. To succeed, HUL believes that it requires the highest standards of corporate behavior towards everyone they work with, the communities they touch, and the environment on which they have an impact. They are having sustainable, profitable growth and creating long-term value for their shareholders, their people, and their business partners.
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The Company also follows the policy of having a ceiling of nine years on the term of office of Independent Directors after revised Clause 49 of Listing Agreement has come into effect in October 2004. As on the date of this report, the Board consists of 9 Directors comprising 4 Executive Directors, one NonExecutive Director and 4Independent Directors. The Chairman of the Board is a Non-Executive Director. Prof. C. K. Prahalad, an Independent Director of the Company, ceased to be a Director of the Company on 17th April, 2010, due to his sudden and untimely demise.
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Board Meetings
The agenda for the Board / Committee meetings is generally accompanied by background notes and other material information which is circulated to Directors in advance to facilitate discussion for taking an informed decision. During the financial year ended 31st March, 2010, six Board meetings were held. The maximum interval between any two meetings was well within the maximum allowed gap of four months.
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Attendance of BOD
Harish Manwani 6 of 6 Nitin Paranjpe 6 of 6 Sridhar Ramamurthy$ 4 of 4 D. Sundaram$$ 2 of 2 D. S. Parekh 6 of 6 C. K. Prahalad 4 of 6 A. Narayan 6 of 6 S. Ramadorai 5 of 6 R. A. Mashelkar 6 of 6 Gopal Vittal 5 of 6 Pradeep Banerjee* NA Dhaval Buch** 6 of 6
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Boards business
Strategies for shaping of a portfolio. Corporate annual plan and operating frame work. Discussing quarterly performance reports. Declaration of dividend. Review of subsidiary companies. Risk evaluation and control.
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Audit Committee
The Audit Committee of the Company comprises of NonExecutive Independent Directors only. The Committee is headed by Mr. D.S. Parekh, and comprises of Mr. S. Ramadorai, Mr. A. Narayan and Dr. R. A. Mashelkar as its Members. Prof. C. K. Prahalad, who was a member of the Audit Committee during the financial year ended 31st March, 2010. The Audit Committee of the Company is entrusted with the responsibility to supervise the Company's internal control and financial reporting process. The Audit Committee met six times during the financial year ended 31st March, 2010 on 10th May, 2009, 3rd July, 2009, 28th July, 2009, 31st October, 2009, 15th December, 2009 and 26th January, 2010.
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Remuneration
The Independent Directors are paid sitting fees of Rs. 20,000/- for attending every meeting of the Board or Committee thereof and commission on profits at the rate of Rs. 5 lakhs for each year. The Non-Executive Directors who continuously serve minimum three terms of three years each, are also entitled or a cash retirement commission of Rs. 10 lakhs at the time of retirement.
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Name
Remuneration for executive directors for financial year ended 31st march (in Lakhs)
Salary Bonus Contributio Perquisites Total n to PF 158.75 119.34 582.80 170.30 99.68 102.84 35 34 41 28 19.28 8 3.5 11 8 38.06 25 17 24 39 318.93 188 638 248 176
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COMPANY POLICIES
Preventing Conflict of Interests Code of Business Principles UN Global Compact Whistle Blower Policy Share Dealing Code
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Awards
HUL is one of the country's largest exporters; it has been recognized as a Golden Super Star Trading House by the Government of India. In 2007, Hindustan Unilever was rated as the most respected company in India for the past 25 years by Business world, one of Indias leading business magazines. The rating was based on a compilation of the magazine's annual survey of Indias most reputed companies over the past 25 years. HUL was one of the eight Indian companies to be featured on the Forbes list of Worlds Most Reputed companies in 2007. Powerpoint Templates HUL was ranked 39th in The Brand Trust Page 31 Report published by Trust Research Advisory in 2011.
Thank You
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