Colgate Annual Report 2023 24

Annual & ESG Report
2023-2024
Delivering on
SMILE
Based Targets
Delivering on Simultaneously, our approach underscores a structured pursuit
of our Environmental, Social, and Governance (ESG) ambitions.
SMILE
In this report, we've expanded the scope of ESG by including
vital areas such as Employee Well-being, Product Stewardship,
and Sustainable Sourcing. Additionally, by fostering a culture of
responsibility and transparency, we build trust with our
consumers, employees, and stakeholders.
Based Targets To achieve our long-term value creation ambition in both
financial and sustainability aspects, we are pursuing our
We are reimagining a healthier future for all people and our planet, and a smile is SMILE Based Targets - this enables us to create enduring value,
the perfect metaphor for this vision. It signifies health, happiness, well-being, ensuring that our business thrives while contributing positively
prosperity, and a sense of achievement. To create more smiles, we are to the world around us.
committed to creating value for all our stakeholders.
We are also introducing our O-O-O framework, which focuses
Our long-term value creation strategy is intricately designed to balance on three pivotal aspects to highlight our journey in each area of
financial performance with sustainability. On the financial front, we focus on our SMILE Based Targets:
consistent innovation, building impactful brands, driving operational excellence,
developing meaningful partnerships across the value chain, and making
strategic investments that drive growth and profitability. By leveraging digital
technologies and optimizing our processes, we ensure that our financial health
ORGANIZE
remains robust, delivering strong returns for our stakeholders.
Implementing robust processes for operational excellence
OPTIMIZE
Maximizing efficiencies and amplifying positive outcomes
OUTPERFORM
Creating substantial value for all stakeholders
Together, these efforts ensure that we continue to bring more smiles to our
stakeholders and contribute positively to the world around us.
Annual & ESG Report 2023-2024
CONTENTS
Corporate Overview Statutory Reports
02 Message from the MD & CEO 111 Notice
04 About the Report 123 Report of the Directors

133 Ÿ Corporate Governance Report
06 Company Overview
165 Ÿ Management Discussion & Analysis
169 Ÿ Annual CSR Report
176 Ÿ Conservation of Energy, Technology Absorption
Sustainability and Us and Foreign Exchange Earnings & Outgo
179 Ÿ Particulars of Employees
18 Message from the ESG Lead
181 Ÿ Secretarial Audit Report
20 Sustainability Strategy 183 Ÿ Business Responsibility & Sustainability Report
and Independent Assurance Statement
32 Accountability in Action
42 Science-backed Products
Financial Statements
52 Environmental Stewardship
224 Independent Auditor’s Report
66 Sustainable Sourcing
236 Financial Statements
74 People Powered
96 Empowered Communities
CORPORATE OVERVIEW
Click to access the digital version:

https://www.colgateinvestors.co.in/annual-report Stay Connected
01
Annual & ESG Report 2023-2024 Corporate Overview Sustainability and Us Statutory Reports Financial Statements
Grow, Strengthen, Simplify

The simple mantra of Grow, Strengthen, Simplify underpinned our actions in FY 2023-24
MESSAGE FROM Grow: This year we delivered a Recognizing a pivotal consumer And in line with our mission,
THE MD & CEO significant step up in our growth

trajectory. Our domestic growth
insight* that people indulge in
sweets after dinner but forget to
the Colgate Bright Smiles, Bright
Futures® (BSBF) program went
of 9.5% and 26.4% PAT and EBITDA brush before bedtime, we from strength to strength,
margins of 33.7% which are the launched 'The Sweet Truth' reaching over 5.2 million children
highest ever. This was driven by campaign. This successful across 10,000+ schools in over 150
unrelenting focus on our 4 campaign, timed with the festive cities and towns inculcating oral
strategic pillars of Growing the season, raised awareness about the care habits and awareness about
Dear Shareholder Family, core while driving category importance of night-time brushing tobacco prevention and good
consumption, driving and won several prestigious nutrition.
I am thrilled to share this report highlighting the premiumisation in Toothpaste, awards.
progress Colgate-Palmolive (India) Limited has winning in Toothbrush and Simplify: Through the year a slew
made in FY 2023-24, advancing not only our core devices and finally building the Strengthen: Through the year of measures have been taken to
growth objectives but also our 2025 Sustainability inherent strengths of Palmolive. we strengthened the already reduce complexity, notable among
& Social Impact Strategy. exceptionally strong Colgate brand these are using Machine Learning
Colgate Strong Teeth, Colgate with awareness and consideration (ML) for demand forecasting,
Active Salt and Colgate Total were reaching 67% (+600 bps) and 68% increasing robotization in plants,
re-launched with superior, science (+500 bps) both by far the highest AI led planogramming in self
Driven by our purpose, backed formula. MaxFresh was in the category. Oral Care Expert service stores and maximizing
relaunched with the proprietary also increased by 500 bps to 78% Advertising ROI through a robust
we are committed to making a UltraFreeze technology, supported again the highest in the category, Market Mix modeling.
by the 'Neend Bhagao, Taazgi and Colgate continues to be the
meaningful impact on our Company's Jagao' campaign. We enhanced single most penetrated FMCG As we look back at the year,
we feel a sense of pride in the
Colgate Visible White O2 with brand in the country**.
Performance, Society, and the Planet. superior flavour and whitening
Through the year we have also
progress we have made coupled
with a sense of optimism of what
technology and revitalized the
Zig Zag toothbrush range, making doubled down on our sustainability is yet to come. I extend my
it our fastest-growing core brand. commitment. heartfelt gratitude to my fellow
At our core, is the mission to improve the oral health We have made substantial progress towards our employees at Colgate India, the
Elevating oral beauty regimen, we
of everyone in India. This is both our fundamental goals on energy & emissions, water neutrality, and We have made significant strides in board of Colgate India, the global
launched the Visible White Teeth
responsibility and a tremendous privilege. This year, zero waste to landfill for our manufacturing environmental sustainability. Three Colgate team that supports us
Whitening Pen, an efficacious
we have made significant strides in this journey, operations in India. of our plants have attained net every day, our shareholders and
at-home solution that brightens
including the launch of our 'Brush at Night' initiative water positivity, and renewable most importantly the consumers in
Our commitment to fostering a safe, healthy, diverse your smile while you sleep.
and continued focus on our flagship program, energy accounts for 18% of our India for putting their trust in us
Colgate Bright Smiles, Bright Futures®. Our and inclusive work environment for our people energy mix. 50% of our Toothpaste
Additionally, we introduced new, everyday. We step into FY 2024-25
commitment remains strong to bringing science remains steadfast. In line with our commitment to tubes are in recyclable packaging
exotic variants in the Palmolive with significant resolve and a
backed superior products to consumers across our giving back to society, we continue to positively using the technology developed by
body wash portfolio with unique smile on our faces.
core, premium, and therapeutic portfolios. impact lives through our Colgate Bright Smiles, Colgate and we are on track to exit
fragrances. A really high decibel
Bright Futures® program, instilling oral care habits FY 2024-25 with 100% recyclability. Best Wishes,
year from an innovation
While we do this, we also have a responsibility and amongst children and several other initiatives geared
perspective.
commitment to building a sustainable world. We towards championing education, women
remain resolute in our commitment to enrich lives, empowerment, and sustainable water management. Prabha Narasimhan
foster sustainability, and propel positive change. Managing Director and
* This is basis our internal consumer and insighting work undertaken by CPIL Chief Executive Officer
** Data as per Kantar Brand Health Tracking 2023 - 24 DIN: 08822860
GRI 2-22 GRI 2-22
02 03
ABOUT THE REPORT

This Annual & ESG Report provides detailed Forward-Looking Statement
information about Colgate-Palmolive (India)'s progress
All statements in this report that are not historical ,
and highlights for the year ended March 31, 2024. This
may contain forward-looking statements, including
is the primary report to our stakeholders in which we
words, phrases, and numbers that set forth targets for
aim to provide a balanced and accurate reflection of
and projections for future results, the expected
our value creation, materiality assessment and
achievement and effect of our sustainability strategy
stakeholder engagement, through the deployment of
and initiatives, and the amounts and timing of their
the ESG framework as well as our future roadmap.
expected impact based on management's current
plans and assumptions. Forward-looking statements
Scope and Boundary generally can be identified by words such as
This report covers the business activities of Colgate- “believes,” “expects,” “estimates,” “intends,” “plans,”
Palmolive (India) Limited, which will be referred to as “strives,” “may,” “could,” “projects,” “should,” “will,”
'we', 'our', 'us', 'CPIL', 'Colgate-Palmolive (India)' and 'the “continue,” “targets,” “goals” and other similar
Company'. The performance of all four manufacturing expressions, and are based on the Company's views
sites and our headquarters in Mumbai are covered in and assumptions as of the date they were made. The
the report. Our parent company, Colgate-Palmolive Company does not, nor does any other person, assume
Company, is headquartered in New York, USA with responsibility for the accuracy and completeness of
products marketed in more than 200 countries and those statements.
territories throughout the world.
The Company cautions investors that any such
Reporting Standards and Frameworks forward-looking statements are not guarantees of
future performance and that actual events or results
This Annual & ESG report FY 2023-24 complies with/
may differ materially from those statements because
reports on/references the following:
of factors that affect international businesses and
Ÿ The Companies Act, 2013 and Rules framed thereunder global economic conditions, as well as matters specific
Ÿ Business Responsibility and Sustainability Reporting (BRSR) to the Company and the markets it serves.
based on the National Guidelines for Responsible Business
Conduct (NGRBC) The Company, based on any of the above factors, is
Ÿ Indian Accounting Standards free to modify, amend, alter or take necessary
corrective changes in such manner that the forward-
Ÿ The Securities and Exchange Board of India (Listing
Obligations and Disclosure Requirements) Regulations, 2015 looking statements contained herein may alter and
the Company undertakes no obligation to update
Ÿ The Secretarial Standards on Board and General Meetings
these statements whether as a result of new
The ESG section of this report has been prepared in information, future events or otherwise, except as
accordance with the GRI (Global Reporting Initiative) required by law or by the rules and regulations.
Standards 2021 and further complies with/reports on/
references the following:
Feedback
Ÿ United Nations Sustainable Development Goals (SDGs)
Our commitment to listening to our stakeholders is
unwavering, and we welcome your feedback on our
Reporting Cycle report. Please feel free to contact us at
The information presented in this report pertains to cpilagm@colpal.com or feedbackesg@colpal.com
the period from April 01, 2023, to March 31, 2024. for any comments or clarifications.
GRI 2-1, GRI 2-2, GRI 2-3
04 05
COMPANY Organize
OVERVIEW
For over 86 years, Colgate- In the pursuit of our targets,
Palmolive (India) has been a we are supported by our purpose, Our Culture DNA
trusted name in Indian households, core values, and principles. These
symbolizing quality and care in elements empower us with a clear
oral healthcare. Our story is one of framework and direction for
continuous innovation, evolving implementing robust processes for
alongside India's smiles and operational excellence. In addition
witnessing the nation's progress. to establishing a unified vision and
We are proud to be a part of it. standards that guide decision-
making and organizational
We are more than just toothpastes,
behavior, they foster a culture of
toothbrushes, and personal care.
accountability, consistency, and
We are creating healthy smiles,
continuous improvement.
confident beginnings, and a
brighter future for all. As the leader
in India's oral healthcare market,
we seek to empower communities Our Purpose
with the knowledge needed for
optimal oral health. This
& Values
commitment shines through
everything we do, from our oral Our Purpose
educational initiatives to our Why We Exist
cutting-edge products. We are Colgate-Palmolive,
a caring, innovative growth
Today we are an INR 5,600 crore
company that is reimagining
plus organization, known for our
a healthier future for all people
robust distribution network and
and our planet.
unwavering commitment to value
Leadership Principles
creation for shareholders.
Our Values How We Lead
Who We Are In 2023, Colgate-Palmolive Company, USA launched a new global leadership
framework anchored in three core principles, that serve as a foundation to
Colgate People, working around
Driven by a vision for a healthier future, the world, share a commitment
guide our ongoing transformation by defining the behaviors Colgate People
need to model.
to our three corporate values:
we embrace SMILE-based Targets to spread We are Caring, We are Inclusive,
and We are Courageous. These We Cultivate We Commit To We Create The
longer-lasting smiles across our stakeholders. evolved values, which were TRUST IMPACT FUTURE
reimagined in 2023, represent Ÿ Listen with empathy Ÿ Provide clarity Ÿ Pursue our curiosity
who we are and inspire Colgate Ÿ Speak openly Ÿ Take ownership Ÿ Courageously change
People to carry Colgate forward
Ÿ Grow together Ÿ Do what’s right Ÿ Recognize progress
into the future.
06 07
Optimize
We are strengthening our brand portfolio by #DaantonKaPoshan #NeendBhagaoTaazgiJagao #BrushTonight

rejuvenating core brands and introducing premium Colgate Strong Teeth MaxFresh Toothpaste The Sweet Truth Campaign
options. We pursue manufacturing excellence
through digitization and continuous improvement. In our dedication to promoting Oral Health Colgate-Palmolive (India) introduced the 'Neend Based on the alarming fact that the majority of Indians
Innovative customer development initiatives further and overall well-being, we initiated the Bhagao, Taazgi Jagao' (Drive out the sleep, Wake up indulge in sweet treats after dinner, but often neglect
enhance our efforts. These strategies streamline #DaantonKaPoshan campaign - The ad, with freshness) campaign, emphasizing the impacts brushing their teeth before bedtime, we launched 'The
operations, optimize resources, and enhance customer featuring a beloved Granny and her of morning drowsiness and promoting alertness Sweet Truth' campaign.
experiences. The result is cost reductions, productivity #CuttingMachine grandchild, received acclaim through Maxfresh toothpaste. The lighthearted film
gains, and solidified market leadership. for its blend of humor and authenticity that showcases a drowsy doctor's comedic misadventures, Colgate aimed to raise awareness about the importance
resonated with viewers. reinforcing the role of Maxfresh in facilitating a of nighttime brushing and help prevent serious dental
productive and alert morning routine. problems like cavities, particularly during the festive
This campaign serves as a platform to raise season when sweet consumption tends to increase.
Brand Love awareness and educate individuals on the The campaign along with strategic interventions led
significance of oral care. The campaign to MaxFresh emerging as the fastest-growing core
We manufacture and market a range of oral care introduced the importance of Arginine brand in Colgate's portfolio in 2023.
essentials under the Colgate brand, including technology that helps in teeth nourishment.
toothpastes, toothpowder, toothbrushes,
mouthwashes & rinses, and specialty products
such as professional grade oral care products. Mithai ka maza lijiye,
Not just a toothpaste, Par raat ko
Additionally, our Palmolive brand offers a *
it's nourishment for brush bhi kijiye.
specialized range of personal care products.
your teeth
In FY 2023-24, we further strengthened our portfolio

by relaunching some of our bestsellers and our brand
campaigns focused on two core objectives: (a)
Rejuvenating the existing market leading products
and increasing their market share*; and (b) Enhancing * Nourishment (Poshan) refers to nourishment of teeth enamel which Note: To know more about the innovation behind our products, please see the Science-backed Products section from page 42 to 52
is remineralization action through arginine fluoride technology
the premiumization drive of our portfolio to cater to
specialty and evolving consumer needs.
*As per Nielsen RMS
08 09
Manufacturing Excellence
At Colgate-Palmolive (India), our mission is to produce quality products of the highest caliber that surpass consumer
expectations. This pursuit of manufacturing excellence entails adept process management, innovative technology
utilization, a highly skilled workforce, and an unwavering commitment to continuous improvement.
Machine Learning (ML) - Zero Touch Quality
The Company has its owned Industrial Sites at Goa, Baddi, Sri City & Sanand apart from third party manufacturing Based End Rounding of Assessment System
locations spread across India. Toothbrushes Sanand, Gujarat
Sri City, Andhra Pradesh
The Sanand plant has taken quality assurance to the
Machine Learning-based vision system developed in- next level with a cutting-edge vision camera system.
house has been integrated into the end rounding This innovative technology utilizes high-resolution
machine at the Sri City plant to ensure continuous cameras for a meticulous, no-touch approach to quality
monitoring of toothbrush defects such as missing checks. This ensures consistent and accurate
tufts and low strand counts. Using an ML based assessments, safeguarding against potential issues
3 owned
algorithm, the system accurately identifies defective before they impact later stages. By leveraging
Industrial Sites are Baddi
2.8 MW Himachal Pradesh toothbrushes, leading to their rejection. This advanced imaging, the system empowers a seamless,
On-site Net Water approach has demonstrated remarkable contamination-free inspection process. This not only
Solar Plant Positive effectiveness, with a 93% reduction in identified upholds the highest quality standards for every
installed defects during final quality checks. product, but also prioritizes the safety and integrity of
our offerings for consumers.
All 4 owned
Industrial Sites are
TRUE® Sanand
Zero Waste Gujarat
Platinum
Certified
Mumbai
Maharashtra
LEED Gold
Certification Goa
by Indian Green
Sri City
Building Council Andhra Pradesh
(IGBC) for Sanand
and Sri City 3,64,600
sqm
cumulative
area across
all four plants
Owned Industrial Sites
Registered Head Office and

Technology Centre
GRI 2-6
10 11
Customer Development Initiatives

At Colgate, we strive towards consistently evolving our distribution efficiencies and processes to unlock new Enhancing Shopping Experience
opportunities for business growth. Along with our partners, we continue to undertake customer development
Modern Trade continues to be one of our primary growth levers, and delivering best in class in-store experience
initiatives and progress on our journey towards spreading smiles to the last-mile stores and modern trade shoppers.
becomes critical for meeting evolved consumer needs. In our endeavor of re-inventing the oral care category shelves
via inspiring and futuristic oral care products, we set out to understand our shopper needs. This led to identification
of 5 unique need spaces our shoppers seek, and our primary shelves, secondary elements and messaging have been
Expanding Reach tailored to these specific customer preferences and behaviors.
Our ways of distribution have now evolved from driving just the breadth of our reach to ensuring both breadth and The stunning re-invented category shelves are now live in select Reliance Stores, fostering positive shopping
assortment with Total Distribution Points (TDPs). Our efforts have been steered towards expanding the reach and experiences to drive category growth. The early reads on shopper navigation and business growths in pilot stores
spread of our products by ensuring the right assortment in the right stores, reaping significant lift in the availability have been encouraging.
of our brands across the portfolio. The TDP approach has not just helped strengthen the availability of our core
brands but has also delivered rampant movement in our opportunity and premium brands with +20% reach uplift AmaZing, our image recognition
vs last year. led assisted merchandising
solution, continues to enable
Smile Stores, our AI-ML led perfect execution in every
bespoke assortment modern trade store. With
recommendation solution AmaZing, we move out of
has been a key enabler in manual input led tracking to a
driving this quality One Click solution. The app has
distribution, translating our led to significant time saving,
strategy to clear actions for reducing the time spent in data
our 5000+ feet on street. entry by merchandisers in-store.
Over the last two years,
Smile Stores has helped us AmaZing is live in 5000+ stores,
deliver customized having analyzed 3.1 mn+ images
recommendations to 1.7 Mn operating at 95%+ accuracy and
stores, enabling us to delivering 95%+ on shelf
increase our assortment by availability and planogram
+14% over two-year CAGR compliance. To strengthen this
and deliver strong business further, our in-store resourcing
growth with converted has also undergone a complete
stores growing 1.2x higher rehaul to optimize our
versus the rest. merchandised coverage.
12 13
Outperform
Economic Highlights
Driven by our purpose and values, we rejuvenated our brand portfolio and introduced premium options. We Net Sales (J in crores) EBITDA (J in crores) Gross Margin (%)
achieved manufacturing and distribution excellence through digitization and continuous improvement. These
efforts streamlined operations, optimized resources, and elevated customer experiences. Leveraging these
advancements, we outperformed across all financial performance parameters in FY 2023-24, thereby delivering 5,644 1,901 69.5
5,188
exceptional results and stakeholder returns. 4,810 5,066
4,488 1,510 1,566 1,547
67.8
67.1
1,202
65.4
65.0
Year At A Glance (FY 2023-24)
S 5,644 Cr S 1,199 Cr India's # 1
2020-21
2020-21
2020-21
2019-20
2022-23
2022-23
2022-23
2021-22
2021-22
2021-22
2019-20
2019-20
2023-24
2023-24
2023-24
Net Sales Net Cash generated Oral Care Brand
#
from Operations
*
S
DPS
58 S 1,901 Cr India's Most Loved
Oral Care Brand
##
Earnings Per Share (J) Dividend Per Share (J)*
EBIDTA
48.6 58**
69.5% 38.1 39.7 38.5
Gross Margin
S 1,847 Cr
Reserves and Surplus
Most Penetrated
9/10 households ### 30.0
38
40 39
28
Most Recalled
67% top of mind ##
+10.7%
Domestic Growth
+20.1%
NPAT Growth y-o-y
Most Considered
87% ##
2020-21
2020-21
2022-23
2022-23
2021-22
2021-22
2019-20
2019-20
2023-24
2023-24
#
* Distributed by way of Interim Dividends. Includes One-time Special Interim Dividend of As per Nielsen Retail Measurement Panel * Distributed by way of Interim Dividends
J10/- each per equity share of J1/- ##
Kantar Brand Health Tracking 2023 - 24 ** Includes One-time Special Interim Dividend
###
Kantar World Panel 2023 - 24 of J10/- each per equity share of J1/-
14 15
Our Story Over A Decade

(J. in Lakhs)
2014-15 2015-16* 2016-17* 2017-18* 2018-19* 2019-20* 2020-21* 2021-22* 2022-23* 2023-24*
A. Operating Results
Sales 4,21,120 4,31,898 4,48,985 4,29,989 4,43,244 4,48,757 4,81,048 5,06,646 5,18,786 5,64,418
Other Operating Revenue 6,034 6,964 7,147 6,600 6,765 8,676 6,109 5,959 9,191 11,277
and Other Income
Net Profit After Tax 55,898 58,117 57,743 67,337 77,557 81,647 1,03,539 1,07,832 1,04,715 1,32,366
Total Comprehensive - 57,998 57,226 67,445 77,567 80,094 1,03,863 1,08,299 1,04,226 1,32,389
Income**
Cash Profits 63,400 69,139 70,550 83,096 93,483 99,888 1,22,113 1,26,029 1,21,706 1,49,540
B. Financial Position
Net Fixed Assets# 94,366 1,09,225 1,30,570 1,33,274 1,40,065 1,20,664 1,21,224 1,08,730 98,182 90,479
Investments 3,713 3,116 3,116 3116 3,115 1,862 1,861 - - -
Other Assets/ (21,047) (9,237) (6,306) (16,071) 1,495 25,316 (6,499) 64,738 73,456 96,940
(Liabilities) (Net)
Total Assets 77,032 1,03,104 1,27,380 1,52,461 1,44,675 1,59,416 1,16,586 1,73,467 1,71,638 1,87,436
Share Capital*** 1,360 2,720 2,720 2,720 2,720 2,720 2,720 2,720 2,720 2,720
Reserves and Surplus 75,672 1,00,384 1,24,660 1,49,741 1,41,955 1,56,696 1,13,866 1,70,748 1,68,919 1,84,716
Shareholders’ Funds 77,032 1,03,104 1,27,380 1,52,461 1,44,675 1,59,416 1,16,586 1,73,468 1,71,638 1,87,436
Loan Funds - - - - - - - - - -
Total Capital Employed 77,032 1,03,104 1,27,380 1,52,461 1,44,675 1,59,416 1,16,586 1,73,468 1,71,638 1,87,436
C. Equity Share Data
Earnings Per Share (J)*** 41.10 21.37 21.23 24.76 28.52 30.02 38.07 39.65 38.50 48.67
Dividend Per Share (J)*** 24 10 10 24 23 28 38 40 39 58****
Number of Shares 1,360 2,720 2,720 2,720 2,720 2,720 2,720 2,720 2,720 2,720
(in Lakhs)
Number of Shareholders 135 181 176 169 176 214 229 308 267 239
(in ‘000s)
#
*
Including Capital Advances
The figures reported for financial year 2015-16 onwards are Ind AS compliant
SUSTAINABILITY AND US
** Total Comprehensive Income is required to be reported under Ind AS from financial year 2015-16 onwards and hence not reported for earlier
years which are IGAAP compliant
*** Issue of bonus shares in the ratio 1:1 during financial year 2015-16. Consequently number of shares has increased from J1,360 Lakhs to
J2,720 Lakhs that is reflected in Earnings Per Share and Dividend Per Share for the year
**** Includes One-time Special Interim Dividend of J10/- each per equity share of J1/- each
Previous year’s figures have been re-grouped to conform with current year’s presentation, wherever applicable
16 17
MESSAGE FROM
THE ESG LEAD
Dear Valued Stakeholders, Looking Forward
As we reflect on FY 2023-24, it is with a profound sense of responsibility and pride that I address you in this We remain committed to integrating ESG principles into our core
year's Annual and Environmental, Social & Governance (ESG) Report. business strategy, ensuring that we operate not just for profit, but for a
purpose. We are dedicated to continuous improvement, seeking
This year, our commitment to sustainability and ethical governance has led us to implement initiatives that innovative and collaborative ways to enhance our ESG efforts and create
not only support our planet but also provide tangible benefits to our communities and stakeholders. value that reflects the trust you place in us.
Transforming environmental impact into a business driver—that's the aim of our SMILE-based sustainability Thank you for being a part of the extended Colgate family. Together, we
targets. We've adopted a comprehensive approach, tackling energy, emissions, waste, packaging, water and are creating a future filled with Smiles - healthy, vibrant, confident, and Best Wishes,
societal impact with a unified strategy. Each focus area is bolstered by ambitious, time-bound goals. purposeful. I promise that we will continue to bring about smiles for the
endless miles that we still have ahead of us. Shilpashree Muniswamappa
Director - ESG & Communications
Highlights FY 2023-24
50% ~107% 4 3 83%

of our Toothpaste of plastic waste collected Industrial Sites continue out of 4 owned of our packaging is The Business Responsibility and
portfolio (by volume) under Extended Producer to be TRUE® Zero Waste Industrial Sites achieved reusable, recyclable or Sustainability Report, made as
transitioned to recyclable tubes Responsibility (EPR) Platinum Certified Net Zero water status compostable per the BRSR Core Framework,
is independently reasonably
assured
Over Over Over

5.2 Mn 30,000 46 Mn 26% 40 tonnes 30 tonnes
children engaged through Women and PwDs liters water repurposed across of our total management of dry waste collected and of Carbon Emissions diverted
Colgate Bright Smiles, Bright empowered with Digital 40 water-stressed villages workforce is women segregated across 25 villages and 300K watts of energy
Futures® Program & Financial literacy benefitting 14K beneficiaries as part of Rural Waste saved as part of Rural Waste
Management Program Management Program
18 19
Sustainability ESG ESG Governance

Strategy Framework Approach
We are committed to sustainability through scientifically developed goals that aim to evoke radiant smiles across At Colgate-Palmolive (India), we are committed to our purpose of Our key priority is to nurture a
stakeholders and our planet. Our purpose guides our commitment and enables us to navigate the complex 'reimagining a healthier future' for both people and the planet. We believe resilient organizational culture
landscape of sustainability. Through our meticulously structured approach, we seize every opportunity to that integrating ESG thinking into all our operational and strategic that is adept at addressing ESG
maximize positive impact across our organization and beyond. endeavors is essential to realizing this purpose. Our ESG framework is a concerns. Our approach begins
pivotal lever that helps cascade sustainability practices throughout our with a robust Board of Directors
Our Environmental, Social, and Governance (ESG) framework helps us integrate sustainability throughout our organization. comprising diverse members and
strategy and operations. From robust governance to stakeholder engagement, our ESG approach enables us to independent voices well-versed in
adopt responsible practices and generate sustainable growth. We internalize this framework with a 3-step At the heart of our ESG framework lies the 'Global 2025 Sustainability & ESG within our business context.
process 'Organize, Optimize, and Outperform' – a clarion call to chart a definitive course towards a greener, more Social Impact Strategy,' ensuring that we focus on Environmental and Social
equitable future. parameters comprehensively and inclusively. By harnessing innovation, A formalized Board-level ESG &
digitization, and modern technology, we work to create a positive impact Corporate Social Responsibility
This sequential approach provides us with a pathway to initiate and implement sustainability best practices across on both the environment and society. Furthermore, our strong governance (CSR) Committee (ECC) oversees
the six domains - Environment, Social, Governance, Employees, Sustainable Sourcing, and Product Performance. and stakeholder management practices are fundamental components of ESG Impacts, Risks and
this framework and are seamlessly incorporated into our business Opportunities, ensuring alignment
operations. with our business strategy and
ORGANIZE OPTIMIZE OUTPERFORM transparent disclosure to
Structuring Sustainability Driving Efficiency Demonstrating Value Creation stakeholders.
for Impact and Impact Through Sustainability
Alongside the ECC, we have a Core
Delving into the foundational Next, we focus on the Optimization of Be it pioneering groundbreaking 2025 Sustainability & Social Impact Strategy Committee and a leadership team
aspects of our sustainability our sustainability strategy. We track solutions, leading the industry with comprising Legal, Finance, Human
endeavors, we outline how our progress with key performance best practices, or surpassing our Resources, Supply Chain,
each of the six domains is tables and initiatives that sharpen our performance metrics, our focus is Corporate Communications, CSR &
meticulously organized to ability to drive efficiency and impact. on pushing the envelope and Sustainability departments. This
operationalize sustainability Through continuous improvement delivering value to our Committee supports the effective
and achieve our SMILE-based and innovation, we seek to optimize stakeholders. Through persistent supervision of ESG initiatives while
Targets. We highlight the clear resource usage, reduce our dedication and a culture of integrating ESG goals into our
goals set forth, the structural environmental footprint, and enhance continual improvement, not only Driving corporate strategy.
Helping Preserving
framework in place, and the the effectiveness of our sustainability do we aim to outperform our past Social Impact Millions of Homes Our Environment
governance and oversight programs, ensuring they yield achievements but also set new To facilitate the integration of ESG
mechanisms ensuring tangible results that contribute to our industry benchmarks. considerations into our day-to-day
accountability and alignment. Smile-based Targets. operations, a dedicated ESG
taskforce with representatives
from relevant functions, is in place.
Our ESG Governance Our Stakeholder
Thus, by organizing our efforts, optimizing our resources, and outperforming expectations, we aim to create Approach Management Approach The taskforce conducts thorough
exponential value for all stakeholders. Our mission is to make the world a better place, one smile at a time, analyses of trends, performance,
for generations to come. forecasting, and cost-benefit
evaluations of ongoing initiatives,
More information about Global 2025 Sustainability & Social Impact Strategy later in this section
empowering the ECC to make
informed decisions.
GRI 2-9, GRI 2-11, GRI 2-12, GRI 2-13, GRI 2-16
20 21
Stakeholder Our 5-step Systematic Approach
ESG Governance and Monitoring Framework

Management
& Materiality
Engaging with our internal and
external stakeholders on
ESG Governance Structure ESG Impact
Assessment Framework sustainability matters is important Cognize Determine Evaluate Prioritize Validate
Board of Directors to Colgate and helps inform our
Tracking and monitoring
(Oversight on CPIL’s ESG sustainability strategy and Gain a profound Identify actual and Evaluate the Assess and CPIL's ESG and
progress across ESG goals
vision and direction)
and targets, aligned to the approach. In FY 2021-22, we understanding of potential impacts on significance of prioritize the CSR Committee
SMILE framework conducted a comprehensive the company's the economy, identified positive significance of oversees the
ESG and CSR Committee materiality assessment aligned activities, business environment, and and negative identified impacts due diligence
(Board-level committee to
with GRI standards. relationships, people (including impacts through a using the process as well
drive ESG governance and
intiatives across the sustainability human rights) risk assessment threshold set by as refines and
organization) This assessment, informed by input context, laws, and across the products process. The actual the leadership validates the
from both internal and external regulations as well (oral health), and potential team. These final material
ESG Core Committee Communication stakeholders, integrated ESG as the internal and activities impacts undergo a impacts are topics.
(Core leadership team perspectives gathered from external (manufacturing, quantitative and grouped into
comprising the Human
Framework
Resources, Supply Chain, Leveraging communication various sources including investor stakeholders. sales, community qualitative analysis diverse material
Corporate Communications, channels to effectively surveys, peer-reviewed scientific development) and where the severity topics.
Legal, Finance, Audit and enhance ESG disclosures research, industry reports, relationships and likelihood of the
Sustainability & CSR
and Y-o-Y performance consumer insights data, as well as (suppliers, logistics, impact are assessed
departments)
against ESG goals feedback from employees and distributors). to determine
and targets
ESG Taskforce suppliers. This inclusive process significance.
(Cross-functional allows us to identify and effectively
representatives led by prioritize key sustainability issues.
sustainability champions to
drive ESG initiatives
on-ground)
Stakeholder Inclusiveness
Materiality Process We believe ensuring stakeholder inclusiveness at each step of our materiality process fosters transparency, builds
Review Mechanism trust, and enhances accountability. By actively engaging with stakeholders, we gain valuable insights, identify
ESG and CSR Committee With the emergence of the GRI 2021 emerging issues, and mitigate potential risks. We have a four-step approach to ensure stakeholder inclusiveness.
Half-yearly and standards, in FY 2021-22, we revised This approach helps us create the Materiality Matrix, providing a holistic view of what is important to us and our
yearly review our materiality assessment to follow stakeholders.
a 5-step systematic approach,
ESG Core Committee
aimed at identifying positive and
Periodic Review
negative impacts across all business
UN SDGs in focus ESG Taskforce Addressing Identification and
activities, operations, and the
Periodic Review stakeholder concerns prioritization of stakeholders
external environment, concerning
the economy, environment, and
stakeholders. The findings are Stakeholder
outlined in this report, accompanied Embedding stakeholder Inclusiveness Stakeholder
by further elaboration on each issue insight into strategy engagement
and the corresponding actions
taken. We shall continue to update
our assessment as needed.
GRI 2-26, GRI 2-29, GRI 3-1, GRI 3-2, GRI 3-3 GRI 2-14
22 23
Materiality Assessment Stakeholder Engagement

A deep understanding of materiality is vital to our ESG strategy and reporting. In FY 2021-22, we undertook a Colgate strives to connect with a wide variety of internal and external stakeholders so they can provide input on our
materiality assessment, guided by the Global Reporting Initiative (GRI) Standards to further understand stakeholder sustainability strategy, particularly in terms of our targets. Below, we outline our key stakeholder groups, with
insights on the relevance of Environmental, Social and Governance (ESG) matters. We further undertook an analysis examples of our engagement with each group with respect to sustainability.
to gain insights into the profound impact as well as relationship between our ESG material topics and business risks
and opportunities.
Stakeholders Method of Engagement
The assessment enabled us to prioritize topics that have a significant influence on our strategy, in addition to
outlining the boundary of our ESG report. Business Ethics, Governance & Transparency is high on priority for us
across all 3 pillars of ESG. Our Through frequent internal communications, employee engagement surveys, digital
Employees engagement tools, country sustainability teams and internal subject-matter experts.
Consumer Health Business Ethics, Governance &

& Safety Transparency Our Integrated marketing communications, ongoing consumer dialogue via consumer
Water Health & Consumers
Most important
Product Stewardship cell and social media engagement.

Stewardship Sustainable Waste Safety of
Packaging Management Our People
Responsible Our Retail Customers Partnering with customers to encourage sustainable habits with consumers
Supply Chain Human Rights and Partners and brand promotion.
Energy & Emission

Management Diversity &
Inclusion Ongoing participation in investor conferences, newsletters, newspaper
Our Shareholders publications, annual reports, stock exchange intimations, website and Annual
Importance to Stakeholders
and Investors
General Meeting.
Very Important
Community
Development
Our Suppliers and Ongoing participation in sustainability steering and working groups.
Contractors
Local In-person meetings and engagement with local communities,

Communities majorly for CSR initiatives.
Government and Ongoing monitoring of government and regulatory activity relevant to Colgate,
Regulatory Bodies as well as meetings and engagement through trade associations .
Important
Non-governmental Direct inquiries and feedback on an ongoing basis, virtual and in-person meetings,
Associations participation in boards, advisory councils and reporting/ disclosures.
Media Direct inquiries and feedback.

Important Very Important Most important
The governance and monitoring framework, stakeholder management and materiality assessment are essential
Importance to Business
to how we determine and drive our Sustainability & Social Impact Strategy.
Environment Social Governance
24 25
Colgate's 2025
Sustainability & Social Actions
Material
Topics
Targets Status
(As of 31st March 2024)
Impact Strategy
WE Create a Human Advance respect for and - Human Rights policy
With the Colgate brand in more homes than any other, Rights adherence to human rights is embedded in all
we are presented with great opportunities and new
More Inclusive World
by promoting awareness agreements.
challenges as we work to integrate sustainability into all We will ensure all Colgate People mechanisms that support
aspects of our business and create positive social impact. feel they belong and are - Capacity building sessions
and enable zero human
We are determined to position ourselves for further supported to achieve their conducted for identified
rights violations in our
growth as we act on our 2025 Sustainability & Social potential. We will drive stakeholders (employees,
business operations and
Impact Strategy, based on our three key ambitions. representation across all suppliers etc.)
the value chain.
organizational levels with a
- Conducted Human Rights
focused, consistent effort and a
Due Diligence for 100% of
Driving Helping Preserving Our target to achieve parity with
Social Impact Millions of Homes Environment our direct business
qualified labour force availability.
These ambitions are the SMILE in operations.
our SMILE-based targets. They are
supported by specific actions and
Diversity and By 2025, increase women 26% Women representation
targets, reflecting our unwavering
inclusion representation in across the company in
dedication to embedding
management positions to management roles.
environmental and social
25%.
considerations into our decision-
making processes.
WE Help Children, Community Impact additional 10Mn Engaged with over 5.2 Mn
Development Children on Oral Health & children through Colgate
Their Families and
Well-being by 2025. Bright Smiles, Bright
Communities Thrive Futures® (BSBF).
Driving Social Impact We advance the health and
wellbeing of children, their
We are committed to helping to ensure the wellbeing of all people, building an equitable and inclusive culture and Impart Digital & Financial Positively impacted 60k
families and communities by
creating meaningful opportunities for all people to succeed inside and outside of Colgate. Literacy to 100k+ Women beneficiaries across 240
investing in innovations that
and Persons with villages and created
empower them for healthy and
Disabilities (PwD) by 2030. linkages to government
Material Targets Status bright futures.
Actions policies worth J 600 Mn.
Topics (As of 31st March 2024)
WE Inspire Our People Health and Continue providing 100% of our employees Enable Water Access & Enriched lives of 100k+
to Make a Difference Safety of access to meaningful are covered under Augmentation in 100 water beneficiaries across 102
Our People mental and physical benefits that encompass stressed villages by 2025. villages through improved
We motivate and enable our people to well-being programs wellbeing and work-life access to clean water for
reach their full potential and perform at to 100% of our integration.
their best every day by valuing people for drinking, sanitation and
employees.
their contributions and sharing in the agriculture.
success we create together.
26 27
Helping Millions of Homes

Material Targets Status
We are empowering people to develop healthier habits by choosing sustainable products that improve their lives Actions
and homes.
Lead With Zero Waste Waste Maintain TRUE® Certification for Upheld TRUE® Certification
Material Targets Status Management Zero Waste for all Colgate for Zero Waste for all
Actions Facility
owned plants. 4 industrial sites.
We are working to operate
Design Sustainable Products Product Consistently deliver 50% of our high-efficiency, low-impact,
Stewardship best quality products Toothpaste portfolio zero waste facilities.
We are innovating our products to help our to consumers (by volume)
consumers live more sustainable lives. We through excellence in transitioned to
intend to keep improving the environmental product design, recyclable tubes. Eliminate Plastic Waste Sustainable 100% reusable, recyclable, or 83% reusable, recyclable
footprint of all products we develop and manufacturing and Packaging compostable plastic packaging or compostable plastic
market. It is our target to make all of by 2025. packaging achieved.
distribution. Zero product recalls
our packaging recyclable or
in the last decade.
reusable or compostable by
2025. Continue to achieve 100% of Collected ~107% of plastic
Build Sustainable Habits for Life Consumer Enhance consumer Key ingredients plastic waste collection under waste under EPR.3
Health & trust and confidence listed across easily EPR every year.
We are helping people build more sustainable Safety through transparent accessible
habits by offering better products, information and dependable touchpoints,
choices and education. Globally, our target is Water Stewardship Water Net Zero Water at India level by 3 out of 4 industrial sites
product information including the
to provide 100% ingredient transparency*, Stewardship 2025. are at Net Zero water
for 100% product Company website We are working for water
promote water conservation awareness with levels.
portfolio. and e-commerce resilience across our value
messaging to 100% of our global consumers platforms. chain, protecting ecosystems
and guide consumers on recycling for our
and supporting water access.
products.
Drive Sustainable Responsible Allocate 80% of our material 73% of direct material
* “Ingredient Transparency” means listing all intentionally added ingredients, providing a description of the ingredient purpose and disclosing fragrance
or flavour ingredients of greater or equal to 100 ppm Sourcing Supply Chain spend in line with our spend aligns with our
responsible sourcing guidelines responsible sourcing
We are engaging all of our by 2025. guidelines.
key suppliers in order to
Preserving Our Environment support our goal to source
Maintain 95% of contract Achieved 100% of
sustainably and strive for
We are accelerating action on climate change and reducing our environmental footprint, working with our partners deforestation and manufacturing spend to be contract manufacturing
and operations to eliminate waste, decrease plastic usage, save water and conserve natural resources. conversion free supply under responsible sourcing. spends under responsible
chains, prioritizing palm sourcing.
Actions Material Topics Targets Status (As of 31 st
March 2024) and soy.
Continue ensuring social 100% of 3PL warehouse
Accelerate Action Energy & Net Zero Carbon by 2040. On-track to achieve Net Zero by 2040. compliance at 100% of 3PL operations compliant as
on Climate Change Emission warehouse operations through per third-party
Management 100% renewable 18% of overall electricity is from renewables. third-party assessment. assessment.
We are taking steps electricity by 2030. Additionally, technical feasibility study
toward net zero underway for on-site solar for other 3.
Extended producer responsibility
carbon emissions locations along with PPA exploration.
across our value chain.1
42% reduction in GHG On-track to achieve 42% reduction in
emissions (Scope 1 & 2) GHG emissions (Scope 1 & 2) by 2030
by 2030 against 2020 against 2020 baseline.
baseline.2
1.
Excludes Scope 3 optional emissions per SBTi Net Zero Standard | 2. Energy consumed in KWh per tonne of production
28 29
Sustainable Risks &

Development Goals (SDGs) Opportunities
In navigating the dynamic
Colgate's 2025 landscape of the oral
Sustainability & healthcare industry, we remain
Social Impact Strategy steadfast in addressing both
risks and opportunities that
Driving Social Impact impact our operations and
stakeholders. Key risks include
We Inspire Our People
to Make a Difference ensuring a responsible supply
chain; upholding business
We Create a More ethics; governance, and
Inclusive World
transparency; safeguarding
We Help Children, consumer health and safety
Their Families & through product stewardship;
Communities Thrive protecting human rights;
managing water resources; and
Helping Millions of Homes effective waste management.
Design Sustainable Simultaneously, we have

Products identified significant
Build Sustainable opportunities in community
Habits for Life development, fostering
diversity and inclusion,
managing energy and
Preserving Our Environment emissions, and pioneering
Eliminate Plastic sustainable packaging. The
Waste health and safety of our people
Accelerate Action on present both a critical risk and
Climate Change an opportunity for growth and
improvement.
Conserve
Water
The detailed explanation and
Lead with Zero
outcomes of each of these risks
Waste Facilities and opportunities are given in the
Drive Sustainable Business Responsibility and
Sustainability Report - forming
Sourcing
part of the Board's Report.
Our partnerships and

collaborations with
external partners are an
important element of
our 2025 Sustainability &
Social Impact strategy
30 31
ACCOUNTABILITY
IN ACTION
Maintain the
highest level of
trust & integrity
32 33
Organize
We champion long-term value With a sharp focus on meeting regulatory compliance and aligning Our support for inclusivity and diversity is evident in the composition of our Board. With members representing
creation for our diverse governance mechanisms with sustainability objectives, we ensure the diverse skill sets, age, gender, knowledge and experience, their collective expertise and steadfast commitment form
stakeholders through a robust and highest standards of governance. Guided by a highly engaged Board and the foundation of the economic, social, and environmental impact we have achieved over the years.
fair governance mechanism, which leadership team, our commitment to ethical behavior and sustainable
permeates our practices with practices aims to create smiles not only for our current stakeholders but Well-defined policies and frameworks serve as the bedrock of Colgate-Palmolive (India)'s systems and processes,
integrity, transparency, and ethical for generations to come. empowering Directors and Senior Management to pursue organizational goals.
conduct. Leveraging these pillars,
we adhere to ethical standards
and propagate our core values
across the business.
Board Composition
Our Board of Directors (Board) views sustainability as being critically
important to Colgate's overall business and growth strategy and our Board
Board Policies Corporate Policies Sustainability Policies
To Promote plays an essential role in guiding and overseeing that strategy. As we work to
integrate sustainability into all aspects of our business, our Board addresses
Ÿ Code of Conduct for prevention Ÿ Code of Conduct Ÿ Our Policy on Ingredient Safety
Accountability sustainability in its oversight of the implementation of Colgate's strategic
of Insider Trading
Ÿ Third Party Code of Conduct* Ÿ Committed to
and Fairness plan, annual budget, capital expenditures, capital structure and innovation
plans and is kept abreast about the Company's sustainability efforts,
Ÿ Nomination and Remuneration
Policy Ÿ Anti-Bribery Policy
Responsible Sourcing
To achieve this target, we have including as they relate to climate change, during reviews of our operating Ÿ Colgate-Palmolive
Ÿ Corporate Social Responsibility Ÿ Equal Opportunity Employer HIV/AIDS Policy
organized policies, frameworks, divisions, product categories and competitive and marketplace trends.
(CSR) Policy Information
and a diverse management Ÿ Policy on Conflict Minerals
structure, optimized our business Ÿ Human Rights Policy Ÿ Managing with Respect
practices and ensured high Ÿ Environmental, Health & Safety
ESG and CSR Audit Ÿ Non-Retaliation Policy
standards of ethics and integrity, Ÿ Risk Management Policy Policy Statement
Committee Committee
and pursuing outperformance by Ÿ Procurement Policies
Ÿ Related Party Transactions Ÿ Respecting Human Rights and
consistently going beyond just
Policy Labor Rights: Modern Slavery
compliance. Ÿ Charitable Contributions Policy
Statement
Ÿ Policy on Determination of
Ÿ Anti-Harassment Policy
Materiality of Event or Ÿ Our Commitment to Animal
UN SDGs in focus Information Ÿ Valuing Colgate People Welfare
Board Ÿ Records Management Policy Ÿ Our Policy on No Deforestation
Committees Ÿ Business Practices Guidelines*
Ÿ Dividend Distribution Policy Ÿ Sustainable Sourcing

*Available on the Company’s Intranet of Palm Oils
Nomination Ÿ Board Diversity Policy
Risk
and Ÿ Soy Procurement Policy
Management Ÿ Public Policy Advocacy
Remuneration Committee
Committee
Ÿ Vigil Mechanism
Stakeholders’ Relationship Committee Ÿ Code for Independent Directors
For more details on our policies: https://www.colgateinvestors.co.in/policies | https://www.colgatepalmolive.com/en-us/who-we-are/our-policies
GRI 2-9 GRI 2-23
34 35
Business Integrity Board of Directors

As we work to achieve Colgate's purpose of reimagining a healthier future for all people and our planet, Colgate Prabha Narasimhan
People share a commitment to our corporate values. Underlying these values and our strong culture is the Mukul Deoras Managing Director &
commitment of all Colgate People to maintain the highest ethical standards and demonstrate ethical leadership, Chairperson Chief Executive Officer
including compliance with Colgate policies and our Code of Conduct.
We are committed to maintaining the highest level of trust and integrity, internally and externally, including Mr. Mukul Deoras is the President of the Prior to joining Colgate-Palmolive
providing an inclusive environment for our employees. Our Code of Conduct guides Colgate People with principles Asia Pacific Division of Colgate-Palmolive. (India) Ltd. in 2022, Ms. Narasimhan led
that reflect our values and set standards for our ethical behavior. While our values and principles are enduring, our He was a Chief Marketing Officer of Colgate-Palmolive the Home Care category at Hindustan Unilever (HUL)
Code of Code is regularly updated to ensure it addresses the changing context of our business. Our job as Colgate Company, USA from 2015 until 2018 and has also served and served on the HUL Leadership Team. A seasoned
People is to make sure our behavior and decisions always live up to our Code of Conduct. several leadership positions such as President of the Asia leader with a proven track record in the consumer goods
Division, Managing Director for Colgate-Palmolive (India) industry, she has demonstrated strategic prowess and
Each employee is responsible for complying with our Code of Conduct, our Ltd., and has led Colgate-Palmolive's Thailand business deep understanding of market dynamics, driving
Global Business Practices Guidelines, Company policies and all applicable and Global Personal Care Marketing function. Before growth and innovation across various categories over
laws. By fully integrating ethics and compliance in our ongoing business joining Colgate-Palmolive, Mr. Deoras held positions of the years. As MD and CEO, Ms. Narasimhan has been
relationships and decision-making, we demonstrate a commitment to a increasing responsibility in marketing and sales at driving transformative changes and propelling the
culture that promotes the highest ethical standards. This has enabled our Hindustan Unilever Ltd. from 1984 to 2004. Mr. Deoras Company toward further success. Her focus on science-
parent organization, Colgate-Palmolive Company, US to be awarded one of holds a postgraduate degree from IIM, Ahmedabad. based innovation, digitization, and brand-building
The World's Most Ethical Companies by Ethisphere for over a decade. He was appointed as Chairperson of the Company in initiatives is reshaping the Company's trajectory in the
September 2018. market. An alumnus of IIM Bangalore and Melbourne
Business School, she was recognized as one of the
distinguished women achievers at Business Today's
'Most Powerful Women in Business' of 2023.
Optimize
*
Vikram Singh Mehta Shyamala Gopinath@
Positioned as the highest decision-making entity, the Board of Directors plays a pivotal role in embedding our Non-executive & Non-executive &
corporate values into all business decisions. It optimizes our business practices and ensures high standards of Independent Director Independent Director
ethics and integrity by discharging their fiduciary responsibilities with fairness, respect, and transparency. The
Board also formulates the policies and procedures of the Company and governs the effective implementation Mr. Vikram Singh Mehta was the A senior financial sector expert,
of the same. Chairperson of the Shell Group of Companies Ms. Shyamala Gopinath has guided and
in India from 1994 till 2013. He began his career as a influenced diverse national policies. She was the
member of the Indian Administrative Service of the Deputy Governor of the RBI for seven years, and was
Government of India and was Advisor to the Public on the RBI Board. She is an Independent Director on
Sector Undertaking, Oil India. He was awarded the the Boards of a few companies, including not-for-profit
Asia House's 'Businessmen of the Year' award for entities. She is also the Chairperson of the Board of
2010 and received the 'Best Independent Director' Governors of IIM, Raipur. She was appointed as a
award by Asian Centre for Corporate Governance & Director on the Company's Board in May 2015.
Sustainability in 2016. He was appointed as a Director
on the Company's Board in October 2001.
@
* Retiring effective July 24, 2024 Retired effective May 31, 2024
GRI 2-17
36 37
Dr. Indu Shahani# Sukanya Kripalu Dr. Indu Bhushan Sanjay Gupta
Non-executive & Non-executive & Non-executive & Non-executive &
Independent Director Independent Director Independent Director Independent Director
Dr. Indu Shahani is the President and Ms. Sukanya Kripalu is a consultant in Dr. Indu Bhushan served for 9 years in Mr. Sanjay Gupta is the Country Head
Chairperson at the Indian School of Design the fields of marketing, strategy, advertising, the Indian Administrative Service and worked and Vice President of Google India. He leads
and Innovation and the Founding Dean of Indian and market research. She has a rich and varied work as a Senior Economist with the World Bank before teams that help businesses grow by leveraging digital
School of Management and Entrepreneurship. A former experience with leading corporations like Nestle India joining the Asian Development Bank (ADB) in 1997. tools, focusing on SMEs, women entrepreneurs, and
Sheriff of Mumbai, Dr. Shahani has over three decades Ltd., Cadbury India Ltd., and Kellogg's India. She was During his tenure with ADB, Dr. Bhushan held several key start-ups. Before joining Google in 2020, Mr. Gupta was
of teaching experience at the College and University also the Chief Executive Officer of Quadra Advisory, positions, including Director General of the East Asia the Managing Director of Star and Disney India, where
level and served as the Principal of H.R. College of a WPP group company. She is a graduate of St. Xavier's Department and Director General of the Strategy and he extended traditional television content to digital
Commerce and Economics in Mumbai for over 15 years. College and an alumnus of IIM Calcutta. She was Policy Department. He played a pivotal role in ADB's consumers through Hotstar and built Star's sports
She has been awarded an Honorary Doctor of Letters appointed as a Director on the Company’s Board in engagement with several Asian economies, notably business. He began his career at Hindustan Unilever,
degree by the University of Westminster. She was June 2018. China and Japan. Dr. Bhushan was appointed as the first leading marketing for the Oral and Home Care
appointed as a Director on the Company’s Board in Chief Executive Officer (CEO) of flagship health scheme segments, and later served as the Chief Marketing
January 2012. Ayushman Bharat in 2018. He established the National Officer at Bharti Airtel. An alumnus of IIM Calcutta and
# Health Authority and spearheaded the implementation Delhi College of Engineering, Mr. Gupta mentors young
Retiring effective July 24, 2024
of the ambitious National Digital Health Mission. He professionals and startup founders and participates in
holds a Ph.D. in Health Economics and a Master of Health several advisory committees. He was appointed as a
Sciences from Johns Hopkins University. He also has a B. Director on the Company's Board in January 2024.
Tech from Indian Institute of Technology Banaras Hindu
Sekhar Natarajan Gopika Pant
University (IIT BHU) and Post Graduate Diploma from IIT
Non-executive & Non-executive &
Independent Director Independent Director Delhi. Further Dr. Bhushan is also a Chartered Financial
Analyst. He was appointed as a Director on the
Company's Board in July 2023.
Mr. Natarajan, Managing Partner at Ms. Gopika Pant, founder of Indian
M/s. S.N Consultants, has vast experience in Law Partners-ILP, specializes in cross-border
the Agriculture and Rural sectors, contributing transactions, including restructurings, acquisitions,
significantly to their growth. With a career spanning and project finance. She has advised major brands
M.S. Jacob Surender Sharma
over three decades, he built Monsanto India as an and handled significant deals, such as Times Bank's
Whole-time Director & Whole-time Director
organization leading growth and innovation in merger with HDFC Bank and various projects with Chief Financial Officer Legal & Company Secretary
Indian agriculture. He also served as VP-Corporate Japan Bank for international cooperation. She has
Strategy at Monsanto, USA. He also advises local and over 38 years of legal experience and is dual qualified
international companies and private equity in India and New York, USA. She holds a BA Hons. As the Chief Financial Officer, Mr. Surender Sharma leads the Legal and
investors and works closely with industry forums on from St. Stephen's College, an LLB from Delhi Mr. Jacob provides overall financial leadership Secretarial Team in advising the business on
policy matters. A qualified Chartered Accountant University, and an LLM from Columbia University. including on Investor Relations matters. He joined CPIL issues of Legal Compliance, devising and implementing
and Cost Accountant, he was appointed as a An environmentalist and public speaker, Ms. Pant has in 1995 in the Continuous Improvement Group. Over 29 litigation strategy as well as issues of Ethics and
Director on the Company's Board in May 2020. authored articles in numerous publications. She was years at Colgate, he has served through leadership Corporate Governance in a dynamic regulatory
appointed as a Director on the Company’s Board in roles in Finance at Colgate-Palmolive Company's environment. He joined the Company in October, 2017
May 2020. subsidiaries in Thailand, Vietnam, and Malaysia as well and has experience of over 24 years across leading
as at the Asia Pacific Division Headquartered at Hong companies in the areas of Legal, Secretarial and
Kong. His last assignment was as the Finance Director Corporate Affairs. He holds a Bachelor of Laws degree
of Colgate-Palmolive Malaysia. He was appointed as a from the University of Delhi and is a fellow member of
Whole-time Director on the Company’s Board in the Institute of Company Secretaries of India. He was
October 2016. appointed on the Company's Board in May 2020 and as
a Company Secretary in February 2022.
GRI 2-17 GRI 2-17
38 39
Leadership Team
Outperform
By combining a diverse and experienced Board and Leadership Team with clear
policies and a focus on business integrity, we have established a strong
governance foundation. This foundation translates to:
Accountability
Clear lines of responsibility and oversight are established,
ensuring that management is held accountable for its actions.
Prabha Narasimhan M. S. Jacob Surender Sharma Fairness

Managing Director & Whole-time Director & Whole-time Director Stakeholders are treated equitably, fostering
Chief Executive Officer Chief Financial Officer Legal & Company Secretary trust and confidence in the company.
This organized approach to corporate governance not only promotes

accountability and fairness but also drives the company's performance and
reputation in the industry.
BRSR and BRSR Assurance

Over the last decade, global disclosure requirements have significantly evolved,
yet inconsistent reporting has hindered stakeholders' ability to assess and
Gunjit Jain Balaji Sreenivasan Ruchir Bhatnagar compare companies' ESG performance. To address this, the Securities and Obtained
Executive Vice President, Executive Vice President, Executive Vice President, Exchange Board of India (SEBI) introduced the Business Responsibility and Independent
Marketing Human Resources Customer Development Reasonable
Sustainability Report (BRSR) framework. This aligns with global standards like
Assurance of
GRI, SASB, and TCFD, and links financial results with ESG performance. Starting BRSR Core
from FY 2022-2023, it became mandatory for the top 1000 listed entities (by
market capitalization) to report their performance as per the prescribed format.
In our endeavor to inspire trust and transparency, we proactively adopted the

BRSR in FY 2022-23, a year in advance of the mandatory requirements.
We believe that BRSR makes it easier for all our stakeholders to obtain a clearer
picture of our overall business stability, growth, and ESG performance.
This year, we've furthered our commitment by obtaining independent

reasonable assurance of our BRSR, reaffirming our dedication to leading in
corporate responsibility and sustainability.
Swati Agarwal Sriram V. Sarala Menon
Executive Vice President, Executive Vice President, Executive Vice President, Please refer to page 183 for FY 2023-24’s Business Responsibility and Sustainability Report and Assurance Statement
IGTC End to End Supply Chain End to End Supply Chain
(Mr. Sriram V. joined the leadership (Retired effective April 30, 2024)
team on January 2, 2024 and took up
the role from Ms. Sarala Menon who
retired on April 30, 2024)
40 41
SCIENCE-BACKED
PRODUCTS
SMILE
Based Targets
By 2025
100% Toothpaste Tubes

(Volume) to be Recyclable
To help To develop and deliver

products that help people live
millions of homes Happy and Healthy Lives
embrace healthier
Oral Care Habits Product Quality and Safety
to ensure regulatory compliance
Prioritize
and customer delight
42 43
We are dedicated to developing science-backed

products that offer superior solutions for everyday
oral and personal care.
Redefining Oral Health Research in India
Our innovations are rigorously tested to 25 Years of Smiles and Success
ensure material and ingredient safety, delivering This year we celebrated a quarter-century of innovation at the Colgate India Global Technology and Design (IGTeD)
Center. Our journey, marked by numerous milestones and remarkable achievements, has brought us immense pride.
the highest standards in user experience. Colgate Clinical Innovation Institute (CCII) The Institute is anchored on three strategic pillars:
Not only do we focus on delivering technically Aligned with our 2025 strategy, we are directing our Ÿ Building a Research Community: Strengthen in-
superior products but also those that people perceive clinical research efforts towards revolutionizing oral, house clinical research capabilities and expand
as superior when used. We benchmark internal and skin, and overall health, capitalizing on our regional external research networks to drive innovation and
external products to continuously strive to be better. strengths while nurturing the growth of our core support business needs with agility in a cost-
business in India. Towards this end, the Colgate Clinical effective manner.
Innovation Institute (CCII) at the IGTeD is a pioneering Ÿ Fostering Colgate Collaborations: Champion
UN SDGs in focus initiative to spearhead healthcare innovations. collective efforts with internal and external
stakeholders.
Launched in October 2023, CCII serves as a hub of
excellence for driving innovations and fostering Ÿ Driving Oral Health Engagement: Improve brand and
collaborations with healthcare professionals and social equity by promoting research, education,
academic institutions. innovation, and awareness.
Organize
Over the years, we have consistently developed some
of the most innovative, effective, and sustainable oral
care products in the market. These products are
backed by the rich experience and expertise of 900+
scientists, 750+ quality specialists, and engineers
spread across 7 strategic global technology centers.
Our large global reach enables us to better understand consumers in different markets. It also helps us spot new CCII stands as a unique platform for Colgate, academia, and professionals to advance oral health research and
trends and growth opportunities, some driven by technological advances, and some driven by regional culture literacy in the region, emphasizing external engagement to leverage regional expertise, reinforce scientific
and practices. This collaboration ensures that our products deliver superior performance, meeting the highest credentials, nurture professional relationships, and enhance oral health awareness.
standards of effectiveness and sustainability. We believe in making the best of oral hygiene products for the
world, so that we can bring in the best for India. During the year, we continued to absorb technology received
from Colgate-Palmolive Company, USA and adapt for Indian consumers.
44 45
Optimize
We seek to cater to changing consumer needs by continuously innovating and improving our products to meet
the evolving market demands. We have also implemented a mechanism to drive greater sustainability and
Ingredient Safety
continuous improvement in our products. The safety and reliability of our products are fundamental to earning and Combatting Caries
maintaining the trust of our consumers. We are committed to transparency, with Science
continuously providing accurate information to empower our consumers to
make informed decisions. In response to the widespread
Creating Products We adhere to stringent safety policies, ensuring compliance with both
internal standards and government regulations across all regions. Our
issue of caries affecting a vast
majority of adults and children
for a Better Tomorrow ingredient guidelines are based on comprehensive scientific evaluations,
and we actively collaborate with external experts to stay abreast of the
in India, Colgate-Palmolive
Company, USA has pioneered
the development of Arginine-
We employ a holistic approach to product strategy, covering the entire product development lifecycle. This includes latest advancements in ingredient safety. By partnering exclusively with fluoride technology. This
design, quality assurance, ingredient safety, and recall management. Through targeted consumer education efforts, suppliers who meet our rigorous safety standards, we ensure the safety and innovative approach is aimed at
we ensure our customers understand our products' features and how to use them effectively. quality of our products throughout the entire production process. nourishing and strengthening
teeth, ultimately enhancing
overall oral health and quality
Product Design Product Quality & Safety Management Consumer Awareness and Feedback of life.
Committed to delivering top-quality We adhere to stringent standards to ensure regulatory compliance - from Our campaign for Colgate
Consumer feedback is integral to our process, guiding enhancements and
products while upholding stringent sourcing high-quality raw materials to implementing rigorous quality Strong Teeth with Arginine
fostering innovation. We utilize surveys and various channels to gauge
environmental standards, Colgate- control measures during manufacturing, every step is carefully monitored. technology is dedicated to
satisfaction, continuously refining our procedures and empowering
Palmolive (India) focuses on Extensive testing is conducted to achieve and/or surpass industry promoting optimal oral health
employees to contribute to ongoing product evolution. Our dedicated team
manufacturing excellence through benchmarks for safety and performance. and raising awareness about
collaborates closely with partners to pioneer innovative solutions. These
innovative strategies to meet the importance of teeth
scientific breakthroughs are then translated into everyday products that
evolving customer needs. Our guiding principle is the 26 Global Quality Standards, modeled after nourishment in combating
promote both environmental stewardship and individual well-being.
the US FDA's Six-system approach, covering innovation, manufacturing, dental issues.
In FY 2020-21, Colgate-Palmolive and commercialization.
Company, USA introduced the
industry's first recyclable toothpaste These standards are uniformly applied across all facilities, ensuring
process monitoring and product testing with cutting-edge technology
Recall Management
tubes, crafted from High Density
Polyethylene (HDPE). Sharing the and robust quality control mechanisms. To ensure the safety and well-being of our consumers, we've instituted a
knowledge globally, including with standardized recall process for any products falling below our rigorous
Our products adhere to Key Release Specifications (KRSs), meeting quality standards or posing potential harm.
competitors, the company aims to
specified requirements for each product type. Non-conforming products
drive wider adoption of recyclable
are withheld from release to prevent unintended usage. This comprehensive procedure entails mock
packaging. Our goal is to transition
recovery audits, leveraging FMEA (Failure Mode and
100% of our toothpaste portfolio to Our commitment to quality was evident in FY 2023-24, with zero We have
Effect Analysis) technology to root out defects, and
recyclable tubes by 2025 in India. incidents of non-compliance regarding the health and safety impacts of recorded
implementing product coding for traceability.
our products. zero recalls
As of FY 2023-24, 50% of our tubes These meticulous steps bolster confidence in the in the last
are already recyclable, marking safety and reliability of our products, ensuring our decade
This year, we continued to deploy technologies to enhance product
significant progress toward our customers can trust in their quality.
quality, ensure process optimization and heighten production capacity.
sustainability objectives.
GRI 3-3, GRI 416-1, GRI 416-2, GRI 417-1 GRI 417-1
46 47
Leading the Way Through

Innovation-led Products
Our innovation journey continues year on year. In FY 2023-24, we launched some truly superior products that
continue to define the trends across categories.
Charting a Zig Zag

Toothpastes & Toothbrushes way to Market Leadership
Relaunched our flagship product - Colgate Strong The new and improved Colgate Active Salt leverages
Teeth Toothpaste - with a refreshed formula. Enriched the unique benefits of salt ingrained in Indian oral Zig Zag, a flagship sub-brand of toothbrush, has long
with our unique Arginine technology that gives a care tradition and tackles oral problems* right at been recognized as a leader in oral care across India.
Calcium boost, this toothpaste nourishes teeth and their inception. However, amidst the challenges of the pandemic, the
makes them 2X stronger. * Such as cavities, gum problems, plaque, bad breath and yellowness
Zig Zag line experienced reduced market traction. To
* vs a regular fluoride toothpaste of teeth with twice daily brushing Enhanced Colgate Visible rejuvenate the brand on all fronts - product, packaging
White O2 formulation with and proposition, we decided to move back to the
superior flavor and whitening legacy roots of Zig Zag – 'Deep Cleaning'.
technology offering a unique
warming feeling during Ÿ Employing design thinking, our team reimagined
brushing, resulting in a smile the whole toothbrush in terms of color
that allows customers to look combinations and bristles.
and feel their best.
Ÿ We redesigned the whole backer card of the
packaging as one canvas, a first in the category. As
advertising & communication is limited in the
category, the packaging becomes the only form of
impactful communication to persuade consumers.
Ÿ A toothbrush relaunch, on an average, requires 8-9

months to execute end-to-end. By leveraging
Colgate Strong Teeth's relaunch, we capitalized on
the opportunity to win back Zig Zag's loyal
consumers.
Colgate Super Junior range of Toothbrush was
relaunched after 7 years with a new product, packaging Colgate Total Sensitive Our efforts paid off, with the new Zig Zag boasting a
and pricing strategy. Creating contemporary relatable Toothpaste, a true whole 2.1X index to the nearest competitor in terms of
kids' characters and reimagining the backer as one mouth protection toothpaste Purchase Intent, firmly establishing its key USPs.
canvas - a first in the category, drove availability to with anti-sensitivity benefits
never-before stores with a consumer winning bundle was introduced with Zinc and The results speak for themselves - Zig Zag has emerged as the
vis-a-vis competition. Arginine technology and a fastest-growing core toothbrush brand in our portfolio.
special type of Silica.
48 49
Outperform
In FY 2023-24, we continued to accelerate premiumization through our proactive health toothpaste with Colgate By organizing our R&D endeavors and optimizing our processes, products,
Total, creating a desire for whitening with the Visible White range and building therapeutics credentials with and value proposition, we are driving outperformance across our portfolio.
Periogard. Adding Freshness
to MaxFresh
Oral Beauty Periogard Palmolive Ÿ Colgate Strong Teeth recognised at e4M Primetime Awards In 2023, we launched a mission
AWARDS
2023 for Best use of TV to re/launch a brand. to revitalize MaxFresh, one of
our flagship toothpastes.
Ÿ Colgate MaxFresh won e4m Neons OOH Awards 2024 for Best
Location - Based Campaign. Our team collaborated with our
international R&D experts to
Ÿ The Sweet Truth campaign won the Silver at Clio Advertising create a unique, differentiated
Awards 2024 and Bronze at Spikes Asia 2024 Advertising product experience. A new, in-
Awards under healthcare. house, proprietary technology
was introduced that helped to
Ÿ Colgate Visible White O2’s #SmileOutLoud won the EMVIES deliver 10X longer lasting
2024 Gold Award for Best Media strategy - Consumer cooling* for intense freshness.
products: cosmetics, toiletries, personal hygiene Category. The packaging was revamped
as well to bring alive our unique
Ÿ Colgate Visible White O2 campaign became the Bigger cooling crystals and offer a
Screen, Bigger Impact – Gold winner at the YouTube Works differentiated look to the pack.
Award 2023. We also introduced stand up
caps to further premiumise the
We consolidated our leadership in Gum disease is a silent pandemic. Palmolive, our personal care brand, Ÿ Colgate Visible White O2’s #SmileOutLoud won the offering.
teeth whitening in India with the More than half the country's adults launched three new Body Wash ET Trendies Awards 2024 in the FMCG - Personal Care.
This was accompanied by a
launch of the Visible White Teeth are suffering* and a sizable section variants, under its core 'Aroma'
Ÿ Colgate Visible White O2 occasion led gamified personalized refreshing new communication
Whitening Pen - Professional. This of the population is visiting the range. Each of these variants,
that brings alive our brand
specially formulated whitening dentist and/or pharmacy for named Forever Happy, Sweet communications won the Silver under the Most Effective Email
promise of "Intense freshness
serum is an efficient at-home resolution. Delight and Alluring Love is crafted Campaign at the Maddies Awards 2023 and Bronze at the
that prevents morning goof-
whitening solution that brightens with unique fragrances that have Brand Equity Economics Time Martech Award 2023 .
As an oral care leader, Colgate has ups" with the tagline of "Neend
your smile while you sleep. been expertly designed to enhance
taken this challenge head on with Bhagao, Taazgi Jagao".
Launched exclusively through our our consumer's mood in the Ÿ Colgate Visible White 02’s #SmileOutLoud won Impact Digital
professional partners and our the launch of Periogard Regimen modern-day busy, urban lives. Influencer Awards 2023 for Best Use of Instagram and FMCG Through a combination of
exclusive B2B platform (Dentist through the dentist channel and Personal Care: Best Multi Influencer Campaign. consumer insights,
First), the Teeth Whitening Pen available at pharmacies across the Infused with the extracts of rich,
technological innovation, and
elevates our consumers' oral country. Usage of the regimen natural ingredients, Palmolive body Ÿ Mouth Audit won Golden Key Award for Best Data Collection strategic branding, MaxFresh
beauty regimen. fights the root cause of gum washes are crafted to transform Innovation by the Market Research Society of India (MRSI). saw a strong positive
disease and is getting a positive your daily showers into an aromatic
momentum in business growth
response from our dentist fraternity. and sensorially elevated experience
and brand health metrics.**
and these new variants strengthen
* National Oral Health Survey,
Dental Council of India our current portfolio by delivering * Vs a regular flouride toothpaste
true to promise. ** Kantar Brand Health 2023 - 24
50 51
ENVIRONMENTAL
STEWARDSHIP
SMILE
Based Targets
By 2025
Net Zero Water

at India level
To ensure responsible
100% Renewable Electricity
management of by 2030
our environmental
footprint
Maintain
®
TRUE Certification
for Zero Waste for all
Colgate owned plants
52 53
Healthy environment and thriving communities go At Colgate-Palmolive (India) Ltd., we've adopted a holistic approach, aligning our environmental footprint
hand in hand, creating brighter smiles and a healthier management with business objectives. From energy & emissions to water and waste, our strategy encompasses it
future together. We understand this close connection all. We integrate management systems across locations to certify and enhance processes, ensuring access to the
between the two, knowing that by helping the best practices.
environment, we improve both personal well-being
and the chance for a healthier tomorrow.
With science-driven initiatives, Focus Areas

As an FMCG major, there are a few environmental topics that are more material to our operations and our stakeholders
we aim to bring smiles to both, than others.
the planet and its people.

Energy & Sustainable
Waste Water
Emissions Packaging
We organize our strategy around environmental
sustainability and implement a range of interventions
and initiatives aimed at optimizing our environmental
footprint. We aim to maximize our efforts and achieve
outcomes that outperform standard expectations.
UN SDGs in focus
Organize
Accelerating action on climate change is a core action of our 2025 Sustainability & Social Impact Strategy and
drives our intention for Net Zero carbon emissions across our growing business.
These targets align with the Science Based Targets In September 2022, Colgate-Palmolive Company,
initiative (SBTi), the Paris Agreement, our signing of the USA became the first large multinational company
Business Ambition for 1.5°C and our commitment to in the Consumer Durables, Household and Personal
Recover Better, working in concert with the UN Global Products sector to have its Net Zero Carbon
Compact (UNGC). We report our global progress on a targets approved by SBTi.
regular basis with our global TCFD report.
Industrial Site Sri City, Andhra Pradesh
GRI 3-3
54 55
Optimize
Energy & Emission Management
We're implementing measures in vital environmental areas to meet our SMILE-based targets. In energy and
emissions, we're improving fuel efficiency, reducing power consumption, and transitioning to cleaner energy We're committed to combating climate change for a healthier future. Our comprehensive To Achieve
sources. strategy focuses on energy efficiency, reducing emissions, and transitioning to clean Net Zero
energy sources. Aligned with our business goals, we comply with environmental standards Carbon by
Regarding waste, we prioritize reduction, reuse, and recycling efforts to minimize landfill waste. Additionally, and regulations. 2040
we employ rainwater harvesting to conserve water resources and reduce the strain on freshwater sources.
Energy Consumption
In FY 2023-24, we utilized approximately 222.64 TJ of energy, across all our Indian sites, with 18% sourced from
renewable energy sources like solar and wind.
LEED Gold
Certification Total Energy Consumption (in GJ)
by Indian Green
Building Council Direct Indirect Total Total
(IGBC) for Sanand Non- Non- Non-
and Sri City Renewable renewable Renewable renewable Renewable renewable
FY 2023-24 11,244.22 39,875.25 28,649.84 1,42,877.33 39,894.06 1,92,752.58 2,22,646.64
FY 2022-23 11,884.28 40,653.86 0 1,72,998.46 11,884.28 2,13,652.33 2,25,536.60

Water
FY 2021-22 8,685.74 43,156.98 0 1,60,434.87 8,685.74 2,03,591.86 2,12,277.59
Positive
Sanand, Goa & Note: The total energy consumption details for FY 2021-22 and FY 2022-23 was inaccurately reported in previous reports. These figures have been
Sri City plants corrected in this report.
The energy mix too has shown a positive trend with the share of renewable energy in total consumption increasing
TRUE®
by 236% and that of non-renewable energy reducing by 14% over the previous year.
certification for
~107% zero waste
(In GJ/tonne
Plastic (Platinum level) for 50% Fuel Consumption (in GJ) Energy Intensity of production)
Neutrality ** all 4 industrial sites of our Toothpaste
FY 2023-24 39,875 FY 2023-24 1.69
83% portfolio has
Recyclable transitioned to FY 2022-23 40,654 FY 2022-23 1.74
packaging used for recyclable tubes
our products FY 2021-22 43,157 FY 2021-22 1.57
Note: We included our Head Office, Mumbai in last year's report to provide a more comprehensive overview of our sustainability performance. As a
result of this change, year-on-year data is not directly comparable with FY 2021-22 data.
* Compared to similarly sized Colgate Toothbrushes

** Equivalent of plastic waste is recovered and removed from the environment
GRI 302-1, GRI 302-3, GRI 302-4, GRI 305-5
56 57
Cut GHG
Emissions
Our Global Energy GHG Emissions (Scope 1 & 2) by
42% by 2030
Climate Action Strategy Efficiency Upgrade In FY 2023-24, we observed a 11.3% decrease in our carbon emissions, reporting 33,276.6 tCO2e (from 2020
baseline)
Baddi, Himachal Pradesh which can be attributed primarily to a higher portion of renewable electricity usage in plant
To help support our ambitious targets around climate action and Net
operation and replacement of diesel with PNG. The table below illustrates the changes in our
Zero carbon transition, and to address our climate-related risks and We replaced existing Scope 1 and 2 emissions, as well as our GHG intensity, over the last three years.
opportunities, Colgate-Palmolive Company, our parent organization, conventional blowers of Air
focuses our climate strategy on five interconnected pillars: Description Unit FY 2023-24 FY 2022-23 FY 2021-22
Handling Units with Electronically
Commutated (EC) Fans at Baddi, Scope 1 tCO2e 4,859.90 3,378.20 3,110.48
Supply chain engagement | Net zero carbon operations | Sustainable
reducing both emissions and
products & consumers | Business reliance | Society & Nature Scope 2 tCO2e 28,416.70 34,119.14 35,206.54
cost. Collaborating with the
Underlying Colgate-Palmolive Company's climate commitments are supplier, we conducted thorough Total (Scope 1 + Scope 2) tCO2e 33,276.60 37,497.35 38,317.03
science-based targets focused on a transition to Net Zero Carbon benchmarking for energy-saving
potential. The retrofitment Total GHG Emission Intensity tCO2e/tonne of production 0.25 0.29 0.28
emissions. Since 2015, our parent organization has engaged with the
Science-based Targets Initiative (SBTi) to set meaningful climate achieved an annual energy saving
Note: The GHG emission data for FY 2021-22 and FY 2022-23 was inaccurately reported in previous reports. These figures have been corrected in this report.
targets aligned with the most ambitious designation available of 60,000 kWh.
through the SBTi process.
To know more about the AI-based
In September 2022, SBTi approved Colgate-Palmolive Company,

integrated metering and monitoring
systems implemented across our
Air Emissions
USA's updated near- and long-term science-based emissions operation, please see the Outperform In FY 2023-24, our consumption of CFC-11 eq. Ozone
reduction targets and Net-Zero science-based target, indicating our section of this chapter.
Depleting Substances (ODS) was 2.313 MT. We are Switching to Cleaner Fuel
continued climate leadership. planning to adopt the latest pollution control for a Greener Planet
equipment to ensure higher energy efficiency and
Baddi, Himachal Pradesh
reduce fugitive emissions.
(in MT )
FY 2023-24 FY 2022-23 FY 2021-22 High-Speed Diesel (HSD) is a significant
Green Buildings NOx 8.28 5.76 2.31
contributor to carbon emissions. To switch over to
an alternate, cleaner fuel, we chose Natural Gas
Since 2013, Colgate-Palmolive Company has used the Leadership in Energy and Environmental Design Green SOx 0.62 0.93 0.70 (NG) as a fuel for the boiler and worked closely
Building Rating System of the U.S. Green Building Council as one way to reduce overall exposure to water and with the supplier to expedite the pipeline process
climate change-related issues and offer a healthier, more comfortable work environment. Two facilities in India, PM 2.05 1.83 1.69
for supply. After successful coordination with the
Sri City in Andhra Pradesh and Sanand in Gujarat, are LEED Gold Certified. requisite vendors, the natural gas project was
Increase in emission level is driven by higher usage of DG due to
disruption in electricity grid supply and higher running hours for boilers implemented in January 2024.
due to increase in volume and new products
The change yielded significant environmental
FY 2023-24
ODS Unit (MT of CFC-11 eq) % benefits. The site achieved a 15% reduction in CO2
emissions associated with boiler operations in the
R22 kg 284.24 12.3% pilot phase. It not only contributed to mitigating
R32 kg 7.28 0.3% the site's carbon footprint but also aligned with
broader sustainability objectives and efforts to
R407 kg 0.00 0.0% combat climate change.
R410 kg 175.85 7.6%
Plans are underway to benchmark the system at
R134 a kg 1,846.00 79.8% Baddi so as to implement them across other
feasible locations.
Total 2,313.37
Industrial site: Sanand, Gujarat
GRI 305-1, GRI 305-2, GRI 305-4, GRI 2-4, GRI 305-6, GRI 305-7, GRI 306-1
58 59
Waste Management Maintain

Waste Diverted from Disposal Waste Directed to Disposal
TRUE® Certification (in MT ) (in MT )
Our waste management strategy follows circular principles, minimizing environmental impact for Zero Waste for Hazardous Waste FY 2023-24 FY 2022-23 FY 2021-22 Hazardous Waste FY 2023-24 FY 2022-23 FY 2021-22
and maximizing social benefit. all Colgate-owned
plants Through Recycling 830.60 832.82 767.86 Incineration 43.17 9.42 2.82
(without energy
In our manufacturing processes, recovery)*
waste can originate from various
Non-hazardous (in MT ) Landfilling 0.17 0 0
sources. To address this, we
Waste FY 2023-24 FY 2022-23 FY 2021-22
classify and segregate waste,
* Waste product generated due to increase in new product development
employing advanced monitoring Recycled 2,854.95 3,655.26 2,917.36 activity by IGTC in Mumbai.
systems to identify and capitalize
Preparation for 2,323.65 1,812.97 1,680.41
on reduction opportunities. By Re-use (in MT )
Non-hazardous
analyzing waste trends and Waste FY 2023-24 FY 2022-23 FY 2021-22
Total 5,178.59 5,132.29 4,597.77
implementing targeted
interventions, we continuously Incineration - - 0.3
Note: The waste cream generated at the Sanand facility is disposed as
optimize resource utilization. hazardous waste in accordance with the Consent to Operate, unlike the Landfilling 18.48 9.5 16.86
Our initiatives are designed to waste cream generated at Baddi and Goa.
Other disposal - - -
promote responsible waste
operations
management, reflecting our (in MT )
unwavering commitment to a E-waste FY 2023-24 FY 2022-23 FY 2021-22

sustainable future. Tree Plantation Drive by Employee Volunteers, Thane, Maharashtra
Through Recycling 6.17 10.89 0.11
E-waste FY 2023-24 FY 2022-23 FY 2021-22
Landfilling 0.04 0 0
Waste Generation We successfully diverted 6,015.36 MT of waste in
FY 2023-24, of this 3,695.67 MT was recycled and
Waste generation by category (in MT ) FY 2023-24 FY 2022-23 FY 2021-22 2,319.69 MT was reused.
Plastic Waste 2,174.01 2,452.64 1,422.04
Bio-medical Waste 9.41 9.42 2.75
Battery Waste 14.78 24.78 22.30

Going Paperless
ETP Sludge 504.34 519.28 317.58 Sanand, Gujarat
Waste Cream 656.77 559.02 596.60
To reduce paper consumption and streamline shop floor Following a successful implementation
Other Hazardous Waste 3.90 0 48.23 processes related to quality, safety, and machine checks, our team across 100% of operations in Sanand,
in Sanand implemented a paperless office solution through we are now planning to extend the
E-waste 6.21 10.89 0.11
digitization. Collaborating closely with the global engineering paperless initiative to ancillary
Spent Oil 7.16 5.41 2.50 team and a renowned OEM partner, our plant digitization team functions and support channels, further
ensured compliance with CFR 21 11 regulations and established enhancing efficiency and sustainability
Other Non-hazardous Waste Generated 2,700.71 2,749.21 2,973.64
guidelines and standards for the rollout. throughout our operations.
Total 6,077.29 6,330.65 5,385.74
Note: The figures of total waste generated in FY 2021-22 and FY 2022-23 have been corrected, as compared to previous report.
Waste management projects initiated in FY 2022-23 were streamlined and scaled up this year, resulting in a positive trend.
GRI 3-3, GRI 306-1, GRI 306-2, GRI 306-3 GRI 306-4, GRI 306-5
60 61
100%
Reusable,
Sustainable Packaging Recyclable or

Compostable
Plastic Packaging
Water Management To achieve
Net Zero
by 2025 Water
We invest in sustainable packaging, aiming to minimize waste and maximize recyclability. Providing access to safe water, improved sanitation and proper hygiene education is an important
By the end of 2025, our target is to eliminate one-third of virgin plastics and ensure all plastic packaging aspect of our water stewardship strategy at Colgate. We're committed to achieving Net Zero by embracing
is recyclable, reusable, or compostable. Analyzing trends, we implement measures to reduce our waste footprint, a comprehensive water management strategy. This involves prioritizing resource efficiency, monitoring
contributing to responsible waste management. Additionally, we prioritize research and development for innovative consumption patterns, and minimizing waste to reduce our environmental impact.
materials and packaging designs, aiming to reduce reliance on virgin resources and foster a circular value chain.
We promote innovative solutions to decrease water usage and utilize advanced data monitoring systems for
Colgate-Palmolive Company, USA launched the first of effective tracking. Tools like the World Resource Institute's Aqueduct help us anticipate future needs and
its kind Recyclable toothpaste tube which is made of identify areas of water stress.
HDPE*. We chose this material because the HDPE
We prioritize freshwater conservation and efficient water treatment practices to ensure availability for
bottle stream has one of the highest recycling rates
surrounding communities. Despite challenges in water-stressed regions like Sanand and Baddi, we're committed
across the world. But It was not easy to work with;
to comprehensive conservation efforts to achieve net zero water. On the other hand, our Sri City plant in Andhra
HDPE is rigid and not well suited for squeezable tubes.
Pradesh and Goa facility have implemented water-harvesting initiatives, achieving water positivity.
But by combining different layers of HDPE laminate at
varying thicknesses, our engineers were able to
produce a soft, easy-to squeeze recyclable tube with
similar performance parameters.
Water Withdrawal and Consumption
We shared our recyclable tubes knowhow globally,
CPIL utilizes various water sources, including groundwater, municipal water supply, industrial corporation sources,
including with our competitors. We, thus, promoted
and rainwater. In FY 2023-24, we replenished over 191,412 KL of rainwater from all our operational locations.
the transition to recyclable tubes, improving portfolio
efficiency and contributing to a circular economy. We
are committed to transition 100% of our toothpaste Total Water Withdrawal
portfolio to recyclable tubes by 2025 in India. Sources of Water Withdrawal (in million liters) FY 2023-24 FY 2022-23 FY 2021-22
During FY 2023-24, 83% of the total packaging by Surface Water 0.00 0.00 0.00
weight was recyclable. Industrial site: Goa
Ground Water 84.49 95.88 114.02
*High-Density Polyethylene (HDPE)
Sea Water 0.00 0.00 0.00
Produced Water 0.00 0.00 0.00

Key Highlights Extended Producer 142.48 133.88 121.49
(in MT ) Third-Party Water
Volume of Packaging Material Consumed FY 2023-24 Responsibility (EPR) Rain Water Collected Directly and Stored by Company 11.43 8.21 9.53
Virgin Material 9,976 Under EPR, in FY 2023-24, we collected 37,466 MT of 0.00 0.00 0.00
Waste Water from another Organization
Recycled Material 25,839 plastic (including packaging), of which 25,839 MT was
Fresh Water from other Organizations 1.43 0.00 0.00
recycled, and 11,627 MT was safely disposed.
Total 35,815 239.83 237.97 245.04
Total Water Consumption
Additionally, all the pre-consumer plastic waste
(in %) generated at the manufacturing site is sent for
Volume of Packaging Material Consumed FY 2023-24 responsible recycling through an authorized waste
handler, who ensures responsible collection, sorting,
Virgin Material 26.6 and recycling/ co-processing of the uncontaminated
Recycled Material 68.9 post-consumer plastic packaging.
GRI 301-1, GRI 301-2, GRI 301-3 GRI 3-3, GRI 303-1, GRI 303-2, GRI 303-3, GRI 303-5
62 63
Outperform
Water Withdrawal from Water-Stressed Areas
Sources of water withdrawal (in million liters) FY 2023-24 FY 2022-23 FY 2021-22
Finding New Means By embracing innovative technologies and
0.00 0.00 0.00
Surface Water
to Net Positive Water maintaining a proactive approach, we aim to
63.00 70.7 82.26
drive sustained improvements in environmental
Ground Water
Sanand, Gujarat management. Here is a case study of one such
Sea Water 0.00 0.00 0.00 initiative that yielded tremendous results.
We have a state-of-the-art, LEED Gold certified
Produced Water 0.00 0.00 0.00
Toothpaste manufacturing facility at Sanand near
Third-Party Water 105.90 104.31 105.1 Ahmedabad, Gujarat. When the WRI Aqueduct tool
Rain Water Collected Directly and Stored by Company 7.64 0.00 0.00
categorized Sanand as a water-stressed area due to Managing Environmental
irregular monsoons, we faced a unique challenge. As
Waste Water from another Organization 0.00 0.00 0.00 most of the water conservation features were already
KPIs with AI-powered
Fresh Water from other Organizations 0.00 0.00 0.00
factored in the design for LEED certification, we had to Metering System
identify additional water conservation projects to Sanand, Gujarat
Total Water Consumption 176.54 175.01 187.36 address the water stress. We focused on harvesting
and reducing incoming treated water from the Gujarat Reducing energy costs is a priority for
Industrial Development Corporation. businesses, but manual data collection and
analysis were slowing us down. To fix this,
we introduced AI-powered metering
Reducing our Water Footprint systems for all our essential resources.
This new-age metering system connects
We employ advanced technologies to monitor everything from water to electricity to a
wastewater quality continuously, thereby minimizing its central server for easier management.
impact on water bodies. Our facilities feature 3-stage A concerted team effort coupled with the
water treatment plants, including tanks, clarifiers, AI-powered metering system, we can quickly
mixers, and filters. Parameters like pH, BOD, COD, color, spot and address any energy or water
fluorides, and TSS are rigorously measured to ensure wastage, saving us money and helping the
compliance with pollution control standards. Treated environment.
water is reused for cooling towers, boilers, and Key steps included:
gardening, aligning with our commitment to Ÿ Collecting and using AHU condensate as raw water With these actions, we successfully reduced
sustainable water management. fixed power costs from 55% to 45% through
Ÿ Reusing water from online testing and ultra-filtration the implementation of energy-saving
In FY 2023-24, we discharged a total of 99 ML of backwash initiatives and the introduction of a
water, of which 65% was utilized for gardening within comprehensive monitoring system. Also,
our premises. Ÿ Diverting a portion of roof rainwater for raw water use
overall electricity consumption decreased
Ÿ Redirecting rainwater from the cable trench to the by 8% over the past four years.
(in ML) Water Discharged in (in ML)
cooling tower
Water Discharged FY 2023-24 FY 2022-23 FY 2021-22 Water-Stressed Areas FY 2023-24 FY 2022-23 FY 2021-22 Going forward, our strategy entails the
These initiatives made our Sanand facility water continued utilization of AI tools to further
Treated Water 83.30 119.55 77.04 Treated Water 54.62 91.63 47.81
positive in FY 2023-24. Looking ahead, we will scale support energy-saving initiatives and
No Treatment 15.78 17.07 8.22 No Treatment 9.28 9.07 8.22 up AHU condensate recovery and effluent water optimize plant performance.
reuse in cooling towers at future and existing sites,
further enhancing our water conservation efforts.
GRI 303-5, GRI 303-2, GRI 303-4
64 65
SUSTAINABLE
SOURCING
SMILE
Based Targets
By 2025
Allocate 80%
of our Material Spend
in line with Responsible Sourcing
To make the Under Responsible Sourcing criteria
supply chain more Maintain 95% of our Contract

manufacturing spends
responsive &
responsible Across the Supply Chain uphold
Human & Labor Rights
66 67
Organize
Deeper
engagement
Driving sustainable sourcing is one of the key actions articulated in our 2025 Sustainability & Social Impact We strategically organize our approach
with suppliers
Strategy. We are committed to driving sustainable sourcing, including making our products with responsibly to prioritize sustainable sourcing, and
sourced ingredients and improving the sustainability profile of our products. ensuring alignment with our values. We stakeholders
optimize responsible sourcing through Implementation
We prioritize sustainable sourcing of materials. enhanced supplier management.
Streamlining logistics and employing
of geospatial
land use
And to ensure that what we manufacture is good for the consumer, and good for the community and environment, efficient transport methods reduce our Industry-wide monitoring
while it continues to be good for business. This requires that we have high expectations for our suppliers and environmental footprint. These efforts transformation Increased
establish robust and collaborative partnerships with them. The topics where we engage our suppliers include labor not only help us outperform external
competitors but also set new industry communications
practices and universal human rights, protecting the environment, health and safety, and ethical dealings.
Expanded use
benchmarks, driving a positive change.
of certified
materials and
traceability
Responsible Sourcing
For sourcing to be sustainable in the long term, it needs to be We have collaborated with over 2,200
responsible. It is thus the first step in our supply chain management. suppliers for raw materials, packaging
materials, logistic support, marketing,
With responsible sourcing, our goals are to: and a multitude of other offerings.
Ÿ Allocate 80% of our material spend in alignment with our
We also ensure that our suppliers
responsible sourcing guidelines by 2025.
adhere to rigorous ethical standards,
Ÿ Maintain 95% of our contract manufacturing spends under including no child labor. Through
responsible sourcing criteria. comprehensive supplier vetting
processes and ongoing monitoring,
Ÿ Uphold social compliance standards, ensuring that 100% of our we verify that all partners uphold the
third-party logistics (3PL) warehouse operations undergo stringent
highest ethical principles.
third-party assessments.
No instances of child labor or forced
To minimize our environmental impact and lead times, we prioritize
labor, and no violations of collective
sourcing from local suppliers wherever possible. 75% of our direct
bargaining agreements were reported
UN SDGs in focus suppliers are local. Supporting them promotes job creation and
in FY 2023-24. Additionally, no
strengthens the local economy, leading to a positive social impact.
environmental or social impacts have
been identified.
GRI 204-1, GRI 3-3, GRI 308-2, GRI 406-1, GRI 407-1, GRI 408-1, GRI 409-1, GRI 411-1, GRI 414-1, GRI 414-2
68 69
Our Approach to Responsible Sourcing Optimize

Palm Oil
Our endeavor to responsibly We've made strides to enhance the efficiency and sustainability of our
source palm oil is guided by the supply chain. We've improved our sourcing process by enhancing supplier
Policy on Responsible and
Third-party Supplier Enhanced management and utilizing tools like SRSA. Additionally, we employ data
Sustainable Sourcing of Palm Oil.
Screening and Responsible Supplier analytics to forecast demand accurately.
This Policy outlines our
Due Diligence Sourcing Management commitments and expectations We optimize transportation routes and automate warehouse operations
Before on-boarding,
Assessment Our global audit and risk for our palm oil suppliers and for smoother logistics. These efforts seek to ensure a more streamlined
Our audit and risk assessment process includes the following elements:
priority third parties and sustainable supply chain, benefiting both our business and the
assessment tool, ‘SRSA’, evaluates compliance with
must undergo a environment.
evaluates social and our quality standards, Ÿ No deforestation and no
screening process to be
regulatory conversion of native vegetation Our on-going efforts to improve our supply chain efficiency include:
in compliance with environmental
compliance requirements
relevant laws Ÿ No exploitation of people or
local communities
Ingredient Collaboration Ÿ Legal compliance Enhanced Supplier Management

Third Party
Safety and Partnerships Code of Conduct Ÿ Reduction of greenhouse gas By improving relationships with suppliers and how things are managed,
We prioritize safety and We are a proud member of emissions we ensure that our supply chain works in alignment with our goals, leading
To set the expected
strive to minimize the the Consumer Goods Forum - to better reliability and responsiveness, which helps us perform better.
behaviour from suppliers,
impact of our ingredients, Forest Positive Coalition of Ÿ Adoption of good agricultural Since 2018, over 58 supplier sites have been risk assessed and audited.
business partners and all
produces, and processes Action, CGF - Human Rights practices
other third parties we do
through our Ingredient Coalition and CGF- Resolution Ÿ Compliance with Colgate's quality standards and regulatory
business with
Safety Policy on Forced Labor and the requirements ensuring the quality and safety of our products.
Priority Industry Pulp & Paper Packaging
Principles Ÿ Quality of service to ensure an effective supply of Colgate-Palmolive
Our efforts are guided by the pulp products to our customers and consumers.
and paper packaging section of
our No Deforestation Policy which
Ÿ Compliance with good environmental management processes and
outlines our expectations for how
respect for worker safety and labor rights.
we source these materials. The
Assessing and Managing Supplier Risk guiding principles that underpin
our approach include:
We have a formal process to identify and manage social, ethical, and environmental risks in our supply chain and
with other business partners. Our efforts to protect the environment through our sourcing practices are focused Ÿ No illegally harvested wood
Strengthening the SRSA Program
on key forest risk commodities, including palm oil, soy-based products, pulp and paper packaging. The sourcing Our Supplier Responsible Sourcing Assessment (SRSA) Program mitigates
of all these commodities is covered by the Group-level policies created by our parent company, Colgate- Ÿ No exploitation of people or
risks and promotes transparency, improving the overall efficiency of our
local communities
Palmolive Company. supply chain and enhancing our company's reputation. Suppliers undergo
Ÿ No deforestation of High audits based on risk assessments to maintain compliance with our
The SRSA program requires selected suppliers and business partners to complete a self-assessment focused on
Conservation Value (HCV) areas standards.
labor practices, human rights, worker health and safety, environmental management, and business integrity.
Using a supplier risk assessment scorecard, selected suppliers and business partners are scored against critical Ÿ No sourcing of wood from In FY 2023-24, we evaluated 66 suppliers who contributed to 73% of our
risk factors to determine the need to conduct a social compliance audit. When a supplier is assessed as a high forests that were converted to total direct material spends based on environmental and social criteria.
risk, a third-party audit of their facility is required. plantations or non-forest uses
GRI 406-1, GRI 407-1, GRI 408-1, GRI 409-1, GRI 414-2, GRI 308-2
70 71
No Deforestation Human Rights and

Commitments Anti-Forced Labor Program
Delivering Smiles, More Responsibly
We support a vision of a future without We uphold human and labor rights, aligning with the United Nations
deforestation. We are committed to Universal Declaration of Human Rights and International Labor Colgate reaches more homes than any other brand in India and we are Leveraging
sourcing forest commodities from Organization (ILO) Core Labor Standards. As a member of the committed to going farther while minimizing our environmental footprint.
Multimodal Logistics
responsibly managed forests. We have Consumer Goods Forum (CGF), Colgate-Palmolive Company, USA We've set a target to reduce emissions by 20% from our 2020 baseline by
2025. To achieve this goal, we've developed a strategy and implemented Integrated modes of transport,
an overarching No Deforestation Policy endorses its Social Resolution on Forced Labor and Priority Industry
various interventions on the ground. such as road-rail and road-ocean
that applies to the three key forest risk Principles and believe that every worker should have freedom of
to optimize the movement of
commodities we source in India – Palm movement, no worker should be required to pay for a job, and no
goods across various distances
oil, Soy, and Pulp and Paper Packaging. worker should be indebted or coerced to work. Container Space Utilization
and terrains leading to 85% to
Finished Goods (FGs) are efficiently packed into the containers, ensuring 90% fewer emissions compared
more throughput per container, thereby reducing environmental impact to road transport.
and transportation costs while improving overall supply chain efficiency.
Container optimization improved to 94% in FY 2023-24 compared to 93% Modal Shift: 85% to 90% lesser
emission as compared to road.
Outperform in FY 2022-23.
3PL Engagement
Engaging with third-party
Our supply chain is crucial for ensuring the smiles of our customers and stakeholders. By organizing and optimizing
logistics providers (3PLs) to
our supply chain with clear approaches and policies, we continuously exceed expectations.
explore electric vehicles,
conducting pilot projects, and
organizing sessions to connect
EV OEMs with distributors, thus
driving awareness.
Industrial site: Sanand, Gujarat

Customer Engagement
It involves various strategies to
High-Capacity Trucks Containerization interact with and serve customers
effectively.
Improved logistics efficiency by Transitioning from open-body to
maximizing truck capacity closed-body trucks offers higher Direct dispatches from
consolidates goods into fewer volume availability, lower cost per manufacturing plants to end
trips resulting in lower emissions ton, and enhanced safety of goods warehouses for efficient delivery.
and reduced transport costs. We during transit. Use of closed body Customer-led backhaul
are one of the first FMCG trucks increased from 58% in FY arrangements, where we
companies to pilot and scale 50FT 2022-23 to 80% in FY 2023-24.
AWARDS
Functional Champion for Best initiatives in Demand collaborate with customers to

37T containers. convert customer empty miles to
Resilient Supply Chain of the Year & Supply Alignment pick up of goods from our
Impact: 624 trips in FY 2023-24
CPG by ISCM CPG Sector by ISCM
for high-capacity trucks Warehouse, promoting
(Institute of Supply Chain Management) (Institute of Supply Chain Management)
compared to 201 in FY 2022-23. sustainability and cost-efficiency.
72 73
PEOPLE
POWERED
SMILE
Based Targets
25% Women in
To inspire Management positions

by 2025
our people to
make a difference Build a culture of inclusivity
Opportunities for all

and create meaningful
74 75
Organize
In our pursuit of SMILE-based targets, it is imperative
for us to begin this ripple effect of SMILE with our
employees. We are committed to ensuring the well-
At Colgate, we motivate and In 2023, we identified
being of those we serve, building a culture of
enable our people to reach the building blocks of
inclusivity and creating meaningful opportunities for
their full potential and perform our India Employee
all people to succeed within and beyond Colgate.
at their best every day. Value Proposition
Holistic well-being is an organizational priority. This is
a key component of our 2025 Sustainability & Social All Colgate People share a
Impact Strategy and an expression of living our commitment to our three
Company's purpose. Corporate values:
Diversity, Equity, and Inclusion We are Caring

are essential components of We are Inclusive
the employee experience and We are Courageous Culture
of Caring
we ensure that everyone feels valued. for our people, the
These reimagined values
planet &
Our people strategy ensures that represent who we are and
communities in
Ÿ Our workplace is where everyone feels they belong inspire Colgate People to
which we operate.
carry our organization into
Ÿ Our organization has the people, capability and the future.
agility for the future
These three building blocks
Ÿ Our teams have ongoing opportunities to learn are an integral part of all our
and develop employee policies, processes,
This strategy includes creating an inclusive work and programs. In this section,
we will be taking a closer look Vibrant
environment built on trust, developing our leaders of
the future and promoting a mindset of continuous at all of them. Experiences
Working with diverse
learning.
people, access to Mindset
global opportunities of Leadership
and a new-age work Opportunity to innovate,
environment. impact and grow into
leaders of tomorrow.
UN SDGs in focus
76 77
Promoting Holistic Well-being

We are nurturing a Culture of Caring through people-focused benefits that encompass financial, physical &
mental well-being as well as promoting work-life integration.
Financial Well-being Physical Well-being Mental Well-being Work-Life Integration

Our rewards package includes competitive pay, health We prioritize the well-being of our employees and We have partnered with a prominent counseling To promote work-life integration, we introduced our
benefits, and time-off programs, aiming to attract and support them at every stage of life. Our comprehensive service to create the Employee Assistance Program. 'BlendIn' hybrid working policy, allowing employees to
retain top talent through performance-based benefits package includes annual health check-ups, This partnership ensures access to 24/7 support for our work from home two days a week.
incentives. Our incentive compensation plan ties the hospitalization insurance for employees and their employees and their families, that too in multiple
variable component to individual and company families, as well as life and accident insurance languages. A recent internal survey revealed that both employees
performance, including operational and strategic KPIs. coverage. and managers found this policy positively impacted
Furthermore, as part of our efforts to promote mental motivation and productivity.
Leadership and senior executives receive fixed pay, Additionally, our retirement benefits ensure continued wellness, we introduced an AI-based app last year. This
variable pay, and equity, with stock grants of the support for employees even after they transition to innovative tool offers practical tips for managing Primary & secondary caregiver leaves | Care &
parent company. Annual compensation reviews for retirement. everyday stress and provides a platform for employees compassion leave | Flexi festive leave | Creche/daycare |
non-union employees consider market benchmarks. to share their thoughts and feelings. Give back leave – volunteering | Personal milestone
Currently, 27% of the permanent workers are covered Medical insurance | Life insurance | Accident insurance | leave policy
under associations and unions. Health check-ups | Doctor consultation | Seasonal flu 24/7 counseling access | AI-based mental wellness app
vaccine | Employee assistance program | Support systems for diverse groups | Care &
Fair and competitive remuneration | Education compassion leave | Sabbaticals for recovery
assistance | Transportation support | Retirement
benefits | Performance-linked bonus | Loans and
subsidies
GRI 2-19, GRI 2-20, GRI 2-30, GRI 401-2, GRI 403-4, GRI 404-2
78 79
Make the workplace more

diverse and inclusive
DE&I Key Highlights Progressive Policies
To accomplish our 2025 India goals, we have
FY 2023-24 FY 2022-23
formulated progressive policies and are constantly
Women Representation 28% 26% working to make them more inclusive. A few recent
Across STEM* examples we are particularly proud include the
parental support policy, revamped leave policy, and
Women Representation 50% 44%
gender affirmation surgery policy.
Across Customer
Development (Sales)
Leadership Team
Women Representation 26% 25% Parental Leave

Across All Management
We always put our people first. We continually refine
Levels
our policies to suit them, and parental leave is no
New Joiners (Women) 32% 33% exception.
*STEM stands for Science, Technology, Engineering, and Mathematics. FY 2023-24 Male Female
This acronym was introduced in the year 2001 by the scientific
administrators at the U.S National Science Foundation (an independent Total number of employees 589 210
agency of the U.S government that supports research)
Total number of employees 34 4
who availed parental leave
2025 India Goals Total number of employees 34 4

who returned to work in the
reporting period after
Equip People parental leave ended
Managers to manage
diverse teams Return to work rate 100% 100%
Enhance the
Our goal is to foster a workplace Over the years, we've taken As we go ahead, we will continue & drive an inclusive
representation Retention rates of employees 87% 89%
that embraces diversity and significant steps, such as to ensure our policies cater to the workplace
of women
champions inclusion. Through recognizing domestic partners in small and big nuances that make
across functions,
strategic hiring, comprehensive various HR policies - Employee us unique as individuals and truly Employees are eligible to avail supporting caregiver
levels & roles
training, and inclusive policies, we Assistance Program, Group diverse as a group. leave within 6 months of child birth and can be taken
cultivate Vibrant Experiences Medical Insurance, Transfers Ensure in 2 tranches. As such, the employee may take the
where every individual is valued. Policy, etc. Diversity fuels innovation by processes & policies leave in multiple reporting periods.
bringing together individuals with for unbiased performance
Welcome,
Our Diversity, Equality, and We continuously strive to expand unique perspectives, experiences, management,
encourage
Inclusion (DE&I) approach our policies to celebrate the and backgrounds. As a proud development & growth for
and empower
underscores our commitment to unique qualities that define us, equal opportunity employer, we all; set & drive standards of
our people from
respecting each team member, both as individuals and as a create an environment where all language, behavior,
under-represented
ensuring an equitable and diverse community. These employees feel like they can learn, communication and
groups
supportive work environment enhancements in policy address contribute, and grow. infrastructure
conducive to growth. the specific needs of diverse
cohorts of employees.
GRI 3-3 GRI 401-3
80 81
Apart from the policies we continue to take initiatives which help make the organization more inclusive.
Hygiene Kits for Working Towards Theatre-based Celebrating

Women in Field Sales Force Access for All Learning on Diversity Womanhood
We care for the well-being of our women We have partnered with agencies to conduct PwD Our DE&I Council teamed up with ‘Steps Drama Colgate Women's Network in India
field sales force and therefore have taken (Persons with Disabilities) Job Mapping and Facility Learning Development’ to organize theater-based celebrated International Women's Day
proactive steps to ensure their comfort and Access Audits. This helps us link disability types to learning workshops at all locations. These workshops with a week-long impactful program
hygiene. During extensive travels to remote specific roles and identify workplace modifications tackled unconscious bias, actionable allyship, and aimed at uplifting and honoring
areas, women have limited access to proper for PwDs. inclusion through powerful drama scenarios. women in our workforce. As part of the
sanitation facilities and hygiene resources. festivities, sessions were conducted on
All roles are evaluated for PwD recruitment against Participants interacted with characters, discussed various subjects including navigating
We introduced the 'JetSetGo Hygiene Kit' for the 21 disabilities recognized by the Rights of Persons behaviors, and reflected on their own environments. dual careers, mentorship, and benefits
women to navigate any restroom situation with Disabilities Act, 2016. With comprehensive This interactive approach encouraged individuals to and policy awareness sessions focused
with ease and confidence. Along with the recommendations from the agency, we strategize to share personal experiences and pledge to support on supporting the holistic well-being
kit, they also receive a gift card to replenish create a more inclusive workplace for PwD each other professionally and personally. of female employees.
the supplies as per their individual needs. individuals.
Putting IDEAs
Employee Resource Groups in Action
for a Common Cause This year the DE&I Council launched a
Our Employee Resource Groups (ERGs) - newsletter called 'IDEAs in Action!'-
Colgate Women's Network (CWN) and a platform to share updates on strides we
Pride Ally Network (PAN) are voluntary are making in the space of Inclusion,
communities led by employees. Diversity, Equity and Access with an intent
to ensure there is greater awareness and
Our ERGs aim to create an inclusive sensitization amongst our teams.
community where individuals with shared
For a holistic view of how we are bringing more women
identities, interests, and allies can drive
into the field sales role, please refer to the Outperform
internal and external change, empowering section of this chapter.
community members and fostering a
sense of belonging.
82 83
Workforce Snapshot FY 2023-24 Human Rights

Fostering an
Employee Category <30 years 30-50 years >50 years Male Female
Our Human Rights policy is key to our operations, embedded in all agreements and environment
Senior Management - 5 4 6 3 contracts. We provide extensive training to raise awareness and ensure compliance where employees
across all sectors. Rigorous due diligence is conducted at our industrial sites, sales feel secure,
Middle Management 49 274 39 254 108 valued, and
offices, and headquarters, while our Supplier Responsible Sourcing Assessment
(SRSA) program evaluates suppliers' adherence to human rights, ethics, and legal empowered
Junior Management 135 277 16 329 99
standards.
Non-Management 420 988 14 1,367 55
We extend our commitment to human rights We have identified the human rights elements
Total 604 1,544 73 1,956 265 throughout our value chain, including suppliers and covered in the due diligence process based on UN
third-party vendors. Through the SRSA program, Guiding Principles on Business & Human Rights,
we assess social and environmental compliance ILO's Labor Standards and Colgate's disclosure
across various facilities and incorporate our Code statement on Human Rights & Labor Rights.
of Conduct (CoC) into agreements to maintain
ethical standards. By safeguarding human rights at Through assessment, we address risks in key areas
every step, we uphold our values and create wider including:
smiles.
Ÿ Freedom of Association
Ÿ Health & Safety

Due Diligence Process
We systematically identify and assess human rights Ÿ Child Labor
risks across our operations and supply chain,
employing third-party audits and risk assessments. Ÿ Forced Labor
To embed human rights within the workforce, we
mandate CoC training for all employees, raising Ÿ Discrimination & Harassment
Industrial Site: Sri City, Andhra Pradesh, India
awareness of human rights and fair labor practices.
Engaging with senior management and Ÿ Diversity & Inclusion
New Joiners and Employee Average Training Ratio of Basic Salary stakeholders, we design capacity-building sessions
Turnover Matrix Hours of Employees of Women to Men for suppliers through forums like AIM-PROGRESS. Ÿ Wages & Working Hours
New Employee
joiners turnover Male Female Employee Category To mitigate risks, we have implemented Colgate During FY 2023-24, we conducted Human Rights
Ethics Line (email: ethics@colpal.com) providing a Due Diligence for 100% of our direct business
Male 93 166 Senior 16 hrs. 16 hrs. Senior Management 1.11 platform for reporting and addressing violations.
Management operations, such as manufacturing plants, sales
Female 44 40 branch offices and the Head Office. The company's
Middle 28 hrs. 28 hrs. Middle Management 0.94 Finally, we communicate openly, inspiring
SRSA program assesses various risks, including
76 60
Management collective action and sharing best practices to
< 30 Years Old those related to human rights, health and safety,
Junior Management 0.87
cultivate a safe, inclusive workplace globally.
Junior 28 hrs. 28 hrs. ethics, and legal aspects, for its suppliers and third-
30 to 50 Years Old 60 105 Management party vendors.
> 50 Years Old 1 41 Non-Management 18 hrs. 14 hrs. Non-Management 0.54
* Ratios are influenced by various factors

including nature of role, years of experience,
time in grade etc. A gender parity study done
showed no gender disparity in pay
GRI 2-7, GRI 2-8, GRI 405-1, GRI 404-1, GRI 401-1, GRI 405-2 GRI 2-23, GRI 410-1
84 85
Employee Health & Safety

A Culture of Caring can only be sustained through a culture of safety. Our Environment, Health, and Safety (EHS)
Management System serves as a guide, ensuring a workplace culture that consistently addresses health and safety
Risk Management and Accelerating
risks while promoting best practices. Our Health and Safety Policy reflects our dedication to proactive practices, Prevention of EHS Impacts Workplace Safety
outlining our approach to standards, tasks, and responsibilities. These policies are endorsed by the Board of
To prevent safety issues, we have adopted a proactive We commit to the highest standards of safety as
Directors. Adhering to our specific safety standards, we ensure compliance with national and international
approach by implementing robust procedures in all our we nurture a safe and healthy working
regulations, including OHSAS 18001, ISO 45001, and others.
plants, covering routine and non-routine operations, environment.
labor, machinery, behavior, and process hazards.
Ÿ Engage and communicate our EHS expectations
Regular risk assessments and hazard analysis are
through regular trainings
conducted across our locations to identify existing and
potential hazards, including chemical, machine Ÿ Periodic internal and external assessments
guarding, and ergonomic risks. conducted across all sites to continuously
improve our EHS performance
Our Quality Assurance team evaluates manufacturing
chemicals and methods for safe use, while the Ÿ Designing and implementing innovative
engineering team ensures safe working environments, programs to protect health and safety
manufacturing facilities, and procedures for handling
Ÿ Effective controls in place to account for errors
processes and chemicals.
Ÿ Safety decisions driven by operational, emotional,
behavioral, and other safety contextual factors
Incident Reporting
We have introduced an IT-enabled portal to streamline
incident reporting, offering easy access to all EHS
Increasing Awareness
information and escalation procedures. Our three-step Our employees are our frontline responders to any
approach of investigation, analysis, and prevention is incident. To ensure effective mitigation and
employed to address safety incidents effectively. prevent emergencies, we equip them with proper
Employees are encouraged to report unsafe situations, training and resources. Through internal experts
Industrial site: Sanand hazardous conditions, or behaviors, and potential and external industry representatives, we conduct
hazards, with our dedicated team promptly addressing safety initiatives and EHS training sessions, sharing
complaints through formal or informal channels to best practices.
ensure swift resolution.
Safety training and learning Policy, goals and targets
In FY 2023-24, EHS training sessions across our four
plants covered more than 2,013 employees across
Embedding a Safety Culture 21,000+ work hours. Apart from keeping them
Health & healthy and safe at work we have provided our
safety Responsibilities, resources, Ÿ 100% qualified and trained medical staff is
employees with comprehensive training on road
Audits and assessments stationed on site
management standards & documents safety to ensure they reach home safely.
system Ÿ Plant tie-ups with local medical service
providers/doctor who are located nearby from the
factory and office premises to ensure accessibility
Planing, procedure,
Risk management is less than two minutes
implementation & monitoring
Ÿ Privacy of employees and workers is safeguarded
through private consultations with records being
maintained with strict confidentiality
GRI 3-3, GRI 403-1, GRI 403-8 GRI 403-1, GRI 403-2, GRI 403-3, GRI 403-6, GRI 403-7, GRI 403-5
86 87
Optimizing The Policies

Health & Safety
During the reporting period, we revisited, refined, and recalibrated several of our policies. Here is a brief overview.
Performance Snapshot: FY 2023-24
Categories Employees Workers Parental WIN for New & Expectant Parents - This year, we introduced the Workplace
Support Policy INclusivity (WIN) policy for New & Expectant Parents.
Recordable work-related injuries Nil 2
The key aspects that the policy seeks to address include:
Fatalities Nil Nil
High-consequence work-related injuries Nil Nil Flexibility Financial Benefits Comfort

To allow more time To help manage Comfort facilities in office during
Number of hours worked 2,109,682 2,897,359 with new-borns + childcare expenses parenting stages, including while
own well-being expecting, and during nursing
Rate of recordable work-related injuries Nil 0.69
Recordable cases of work-related ill health Nil Nil The Policy expands parental leave eligibility, ensuring equal opportunities for
childcare regardless of gender, sexual orientation, or path to parenthood. It offers
Fatalities as a result of work-related ill health Nil Nil
enhanced flexibility and support, including extended remote work options and
financial aid such as childcare allowances, creche reimbursements, and partnerships
with creche facilities.
WIN for Persons with Disabilities - This Policy supports employees with disabilities
with a range of benefits, including reimbursement for assistive technology.
Optimize Therapy Benefits for Kids with Special Needs - With an aim to support our
employees and their families better, we have introduced therapy benefits for
employee's children with special needs. We now provide a defined OPD support to
We adopt a dual approach to elevate the employee experience. cover the therapy costs.
We optimize our policies to We focus on optimizing our talent pool

By prioritizing both
Leave Policy Flexi Holiday - Festival Leave - We have revamped our Leave Policy to enhance
ensure they remain employee- by investing in the professional inclusivity. A key feature is the introduction of Flexi Festival Leaves, allowing
policy optimization
centric, progressive, and development of our employees. Through and talent development, employees from diverse regions and religious backgrounds to choose and observe
adaptable to evolving needs. training, upskilling, and mentorship we create a supportive and the festivals that are important to them.
This includes regular reviews programs, we empower our team to rewarding environment Care and Compassion - Recognizing our employees' caregiving responsibilities, we
and updates to maintain enhance their abilities and unlock their where employees can
have introduced a Care and Compassion Leave policy. It allows flexibility for our
relevance and alignment with full potential, fostering a culture of thrive and achieve their
employees to take care of a sick spouse/partner, child, aging parent, or pet. This
career goals
industry best practices. continuous learning and growth. shows our commitment to supporting our diverse workforce, helping them balance
personal and professional obligations with ease.
Personal Milestone - To celebrate key life events such as birthdays and anniversaries.
Give Back Leave - One day every quarter to participate in volunteering activities of
their choice.
GRI 403-9, GRI 403-10
88 89
Optimizing The Talent Pool

We strategically hone the skills and harness the potential of our employees to maximize performance that helps
them meet their career goals and our organizational growth targets. This involves providing targeted development,
nurturing a culture of learning, and enabling career growth. Our aim is to enhance Vibrant Experiences by
systematically nurturing a Mindset of Leadership in our employees.
Insurance Our Employee Medical (Hospitalization) Insurance Policy reflects our commitment
Policies to employee well-being. Covered by the Company, the policy offers a comprehensive
INR 6 lakh family floater, including self, spouse/partner*, and two dependent
children up to 25 years. From maternity expenses to IVF treatments and therapy for Investing in
kids with special needs, every aspect of healthcare is addressed. Mental illness
receives significant coverage for inpatient and outpatient care.
Talent Development
People are crucial to our ongoing business
The policy's inclusivity extends to dependents, allowing for the addition of live-in or
success, so we aim to recruit, develop and retain
same-sex partners. Apart from this, Colgate also offers all salaried & clerical
strong and diverse talent. Some of the key
employees with Voluntary Parental Medical Insurance Policy, Life Insurance Policy, initiatives taken up for talent development
Personal Accident Insurance Policy to provide financial security to the employee and include 'Evolve', an internal talent marketplace,
their families through Group Medical, OPD Insurance, Life & Personal Accident that provides employees an opportunity to opt
Insurance coverage. for on-the-job experiences in the form of
projects to build new-age skills. In the process,
the program also enhances talent readiness for
Gender-Neutral We have amended our POSH Policy to make it gender-neutral by going above and possible future roles.
POSH Policy beyond the legal requirements. Our current policy covers all the complaints of sexual
harassment irrespective of the gender/gender identity of the aggrieved person. This
helps us in creating a work environment that enables all employees and third parties
to work without fear of prejudice, gender bias and sexual harassment.
Digital Tools
& Technology
Gender We now cover gender affirmation surgery in our medical insurance, including OPD Using digital tools & technology has been
Affirmation consultations and surgery charges. This ensures that our transgender employees have central to our talent development efforts. In line
Surgery Policy with this, we offer personalized skill-building
access to essential healthcare services to align with their gender identity, affirming
opportunities through our AI-enabled portal,
the dignity and rights of all within our workforce, fostering an environment of respect
'MindSpark,' which co-opts e-learning and
for all.
multidisciplinary modules. We also provide
financial assistance to our employees via our
'Self Development Policy' for upskilling through
Blend-In Policy The policy aims to provide flexible work experiences to support employees and
external educational courses.
achieve a healthier work-life balance while best supporting our business priorities.
It covers On-site and Blended roles.
On-site roles: Employees can avail up to 12 remote working days in a calendar year
(one day/month)
Blended roles: Employees in this role can work remotely up to 2 days in a week In
addition, employees are eligible for 'Work From Anywhere' arrangement every year
during which they can work out of any location within India for up to 2 weeks at a
stretch.
90 91
Some of our key ongoing Career Development Employee

programs for Talent
Development Reviews Volunteering
We conduct regular career development reviews While our long-running CSR programs continue to
CD between employees and managers to discuss make the community smile, our employees have been
Fundamentals strengths, development areas and career aspirations. inspired and encouraged to play an active role.
Classroom training programs for each Potential These conversations feed into talent discussions to plan Whether it's sharing skills, offering time, or simply
key role in Customer Development Development development interventions and career paths for spreading kindness, we believe in giving back to
covering Distributor Engagement For Centre (PDC) employees. We also conduct separate quarterly society and making a difference wherever possible.
Growth, Customer Management performance check ins, and an annual performance
When our Customer Development
Excellence, Core Selling Skills, Field evaluation which focuses on assessing achievement In FY 2023-24, our employees actively took part in a
Officers (CDOs) are ready for the
Sales Execution Fundamentals against agreed objectives, as well as looking ahead at range of activities such as tree plantation programs,
next level, talent assessment for the
(Gurukul Bootcamp) apart from what can be done even better. donation drives, beach clean-ups, promoting
next role is carried out through a
others to equip the sales team education, setting up libraries, and tooth model
2-day 'Potential Development
with strong functional making, amongst others.
Centre (PDC)' to select talent for
capabilities.
Area Manager roles
Impact FY 2023-24
BetterUp
Coaching
Our parent company globally
undertakes coaching sessions
Data Literacy
& Analytics
Academy
500+
through its partner BetterUp, Participants
to provide Colgate leaders Equips cross-functional team
with personalized leadership members and practitioners
training to accelerate their with AI courses, awareness
effectiveness and
development
sessions, and learning activities
to increase proficiency in data 40+
analytics for better decision- Activities
making
Gurukul Rise
A self-paced learning, Digital Bootcamp
5,000+
assessment and capability - Digital IQ Lives Impacted
building intervention Focuses on augmenting employee
along with real time action skills needed for digital
learning projects available
1,600+
transformation.
to employees to upskill It consists of a development tool,
themselves for future roles Digital IQ Assessment, which
evaluates the existing employee's Volunteering Hours
digital skills and suggests training
modules based on identified
Employee Volunteering - Wheelchair Assembling Activity,
strengths and opportunities
Mumbai, Maharashtra
GRI 404-2 GRI 404-3
92 93
Outperform
People-centric policies and

initiatives help our employees to
outperform. We are setting Bringing More Women Economic Times
AWARDS
industry benchmarks for people- Best Organizations
practices by embracing
into the Field Sales Role
for Women 2023
diversity, equity, and inclusivity. Diversity, Equity, and Inclusion (DE&I)
We are optimizing our own
processes to bring in more The notion that field sales jobs are primarily for men poses a
women in the workforce and significant challenge. It means there are fewer women in sales,
winning awards and making the gap between men and women even wider. For us,
recognitions for that. diversifying the workforce has emerged as a top priority to
make Colgate more inclusive and innovative.
Through targeted recruitment
strategies, comprehensive To solve this, we are bringing in more women through campus
training programs, and hiring and internship programs. We are committed to
proactive engagement, we have attracting top talent, ensuring each batch is at least 50%
cultivated a culture where every gender diverse without sacrificing quality. We are expanding Business Today
individual feels valued and recruitment to campuses with diverse student populations. Best Companies
empowered to contribute their Additionally, through lateral hiring, we are building a pipeline to Work For in 2023
unique perspectives. Our of candidates from varied backgrounds to enrich our team. Recognized amongst
dedication has not only enriched Top 4 FMCG Workplaces
our internal dynamics but has With concerted efforts, Field Sales diversity
also translated into tangible witnessed a notable uptick, climbing from 10% to
business success, driving 15% by the close of 2023. This achievement reflects
innovation, enhancing customer
our dedication to creating a more equitable
relationships, and ultimately
outperforming competitors. environment.
India Workplace
Through ongoing interventions and initiatives, the aim is to Equality Index 2023
continue leveling the playing field, ensuring that Top Employer Bronze -
opportunities are accessible to all, regardless of background Top Employer for
or identity. LGBTQIA+ Talent
94 95
EMPOWERED
COMMUNITIES
SMILE
Based Targets
Impact additional
10 Million Children
on Oral Health & Well-being by 2025
Empower
100K Women and

We help children, Persons with Disabilities
with Digital & Financial Literacy by 2030
their families and

communities thrive Enable Water Access and Augmentation in
100 Water-stressed villages

by 2025
96 97
Organize
Taking value-based actions to support, Guided by Colgate's 2025 Social impact focus areas include
advance, and improve the communities Sustainability & Social Impact
where we live and work is essential to Strategy, our CSR initiatives are Championing
fulfilling our purpose. helping children, their families, and Healthy Smiles:
the community to thrive, in line
We have set SMILE-based targets Oral Health
with India's requirements and UN
focused on championing optimism, Education
Sustainable Development Goals
fostering well-being and empowering (SDGs). BSBF My Bright Smile Art Contest Winner from India
individuals and communities to flourish. (M. Dedeepya Sai, Age: 9 years, Visakhapatnam,
Education Scholarships
With a dedicated ESG and CSR Andhra Pradesh)
To accelerate this process, we organize and Women Empowerment:
Committee (ECC) steering our
and optimize social impact initiatives to efforts, we prioritize meaningful Keep India Smiling We collaborate closely with
outperform with our interventions. We impact areas, evaluate programs government bodies and
utilize data to continuously improve and rigorously, and craft annual action communities to ensure that our
discover innovative sustainable ways to plans aimed at fostering long-term Promoting interventions are aligned with their
assist communities. community well-being. Environmental Stewardship: priorities. Every project is backed by
Waste Management comprehensive analytics, guiding us
Our CSR initiatives majorly support and Water to pinpoint the most pressing issues
Our mission of reimagining a the Bottom of the Economic Augmentation and tailor our interventions
Pyramid (BoEP) sections of society, accordingly. This approach not only
healthier future for all people and drive positive socio-economic refines the programs but also
and environmental impact through The programs are planned based enhances their effectiveness,
and our planet is at the heart diverse community engagement on district-specific local need ensuring that our efforts make a
activities. assessments. targeted and meaningful impact.
of everything we do.
UN SDGs in focus
BSBF Session in Pune, Maharashtra
GRI 3-3, GRI 413-1
98 99
Optimize
In each of our thematic areas, we have developed well-structured programs aimed at maximizing social impact
Impact FY 2023-24
through strategic partnerships and collaboration with relevant NGOs, as well as active engagement from local
communities. Importantly, many of these initiatives prioritize women as core beneficiaries, recognizing their
pivotal role in driving positive change across various issues.
5.2
Children
Mn+ 8
States
Karnataka,
150+
Uttar Pradesh,
Championing Healthy Smiles: Maharashtra,
Tamil Nadu,
Oral Health Education Locations Andhra Pradesh,
Gujarat,
Colgate Bright Smiles, Bright Futures® Rajasthan,
NGO/Implementation Partner: Bharat Cares 10K+

Schools
Punjab
Our commitment to illuminating a billion smiles Champions of Change

radiates through our flagship program, Colgate Sanand, Gujarat
Bright Smiles, Bright Futures® (BSBF), an
initiative that has had a positive impact since its Childhood is a precious canvas adorned with
inception in 1976. To date, through BSBF, we have 5 Key Missions of BSBF vibrant smiles and boundless dreams. In India,
reached over 176 million children across India, 57%* children suffer from dental caries or cavity
imparting crucial oral care habits, fostering Mission #1 issues, while challenges related to tobacco use
The Right Way to Brush
awareness about tobacco prevention, and among young children are also prevalent.
highlighting the vital role of good nutrition in Addressing these issues requires early
Mission #2
maintaining optimal oral health. Brush Twice a Day intervention to emphasize the importance of
maintaining good oral hygiene from a young age.
The program's multifaceted approach engages Mission #3
with school going children in the age group of 6- Change Your Brush At Changodar Primary School, 10 year old Kavya
15 years, across rural and urban areas. The Every 3 Months Patel has become a Strong Teeth Champion. She,
initiative includes in-school delivery of like her peers, is now highly influenced by
comprehensive educational sessions. Mission #4 Colgate's BSBF program and has taken upon
Say No to Tobacco herself to educate her family and neighbors about
By leveraging specially curated educational the importance of eating healthy and ill effects of
materials, interactive sessions, captivating Mission #5 tobacco consumption.
animations, catchy jingles, quizzes, and Nutritious Foods for
engaging competitions, BSBF transforms a Happy Mouth Inspired by our oral health education program,
learning into a fun and memorable experience she is championing the cause of Strong Teeth
for young minds. equals Strong Health.
The program aims to reach an additional *Indian Journal of Public Health Novmber 2022
10 Million children in India by 2025.
100 101
Keep India Smiling

Education Scholarships Women Empowerment:
NGO/Implementation Partners: Shikshadaan & Buddy4Study Digital & Financial Literacy for Women
The educational landscape in India faces a critical and Persons with Disabilities (PwDs)
challenge, as each year millions of deserving and
NGO/Implementation Partners: Haqdarshak & Seva Mandir
academically talented students are forced to abandon
their formal education due to financial limitations.
In the midst of a rapidly evolving digital era, the
CPIL initiated Colgate Keep India Smiling Scholarships importance of digitalization across various sectors like
in 2019, aimed to bridge the gap for meritorious education, healthcare, manufacturing, and financial
students who, due to financial constraints, often miss services cannot be overstated. Digitalization drives
out on opportunities to further their education or efficiency, innovation, and economic growth, and is crucial
enhance their future employability. for social inclusion. India, with its ambitious Digital India
initiative, exemplifies this drive towards digitalization.
Ÿ Supporting students in the field of Dentistry, However, a significant portion of the population, especially
Engineering and Sports amongst others women in rural areas, lack adequate digital literacy, posing Training and
challenges to their participation in the digital economy and Empowerment
Ÿ Learning Management System for Personality access to financial services. Colgate Digital Sakhis are
Grooming, Language Skill Improvement, Career Fulfilling Dreams equipped to support scheme
Guidance Against All Odds In 2023, we took a significant step towards holistic applications and provide Digital
empowerment of communities by means of Digital and
Ahmednagar, Maharashtra and Financial Literacy training,
Financial Literacy for Women and Persons with Disabilities. fostering self-reliance and
From her father's military background, young Colgate Digital Sakhis are trained to take this program to empowerment.
Kiran Sathe learned invaluable lessons in multiple households in their villages. The program is active
discipline and perseverance. Motivated by her in five locations: Baddi (Himachal Pradesh); Sri City
Access to
ambition to provide affordable dental care to (Andhra Pradesh); Sanand (Gujarat); Kundaim (Goa);
Welfare Schemes
the underprivileged, she pursued dental surgery and Udaipur (Rajasthan). Yojana Kendras By enhancing awareness
despite the financial hardships following her Physical hubs in and access to government
father's untimely demise. strategic locations serve welfare schemes, the
Impact FY 2023-24
as centers for learning, initiative aims to uplift
Her determination remained steadfast as she scheme application underprivileged
focused on her studies, eventually earning
admission to Mumbai's prestigious Nair Hospital
Dental College. Kiran's journey took a positive
250
Colgate Digital Sakhis
processing, community
engagement and
inclusivity.
communities and promote
financial inclusion.
turn when she was selected for the Keep India

Smiling scholarship program, which covered her
Positive
30K
tuition and provided essential dental equipment.
STEM Scholar - Ananya Biswas Community Reception
Today, Kiran's mother takes great pride and relief The positive reception of
in witnessing her daughter's academic success. Beneficiaries the initiative among local
Impact FY 2023-24 communities and
Kiran aims to give back to her community by
establishing a community dental clinic, ensuring government officials reflects
1,725 55% accessible dental care for all.

S600 Mn
Worth Policies Linked
its potential to drive
meaningful change at
grassroots levels.
Scholars Girls
102 103
Promoting Environmental Stewardship

Water and Waste significantly influence the community and its quality of life. As a responsible organization, we
prioritize water conservation, ensure access to safe drinking water, and mitigate the risk of scarcity. Additionally,
we promote responsible waste management practices to foster a healthier, happier community.
We also understand that for social changes to be sustained and cascaded, they need to be supported through
collaborations and partnerships with governmental and non-governmental organizations.
Waste Management
NGO/Implementation Partner: Nepra Foundation
The local need assessments done in 2023 in rural
areas of Gujarat and Goa, showcased significant
challenges in plastic waste management. These
regions lacked organized waste collection, recycling
facilities, and sustainable disposal systems, leading to
harmful practices such as open burning, landfilling,
littering, and dumping in water bodies.
As an FMCG major, it is our continuing endeavor to

ensure that not only do we rationalize plastic
consumption in production but also ensure that our
consumers are mindful of their consumption and
aware of the best ways to manage plastic waste.
Financial Literacy Sparks Hope We have implemented a targeted waste management Nepra Material Recovery Facility in Sanand, Gujarat
Udaipur, Rajasthan program in the districts of Sanand (Gujarat) and

Kundaim (Goa). This effort aligns with India's Swachh
In India's rural heartlands, women even today are not the key decision makers on finances and provisions for Bharat Mission and our enduring commitment to
family. Lack of access to Digital and Financial Literacy often leads them to being subjected to digital frauds, community welfare.
also many women aren't aware of the government schemes that exist for their benefit and some who do,
still fall prey to dishonest microfinance companies and agents that misuse the government's Ÿ Steering community behavioral change
e-mitra facility for their own gains. Workshops emphasizing proper waste segregation
and waste reduction techniques
The comprehensive Digital and Financial Literacy training is designed to break these chains. In this program,
women not only learn essential money management skills and utilize digital tools but also gain access to Ÿ Curate initiatives with a special focus on Climate
beneficial government schemes like Jeevan Jyoti Beema and Sukanya Yojna amongst many others. Change
Ÿ Improving lives of waste pickers

One standout example is Nanu Devi, who became a Digital Sakhi and inspired others in her community.
Through her learnings, she was able to save 10 women in her community from losing their money to fraud Ÿ Recycling (by using waste as a resource)
e-Mitras. Nanu Devi's remarkable achievements have brought hope to the women of Malpur village,
illuminating a path to a brighter and more secure future for all. Dry Waste pick up Van in Sanand, Gujarat
104 105
Impact FY 2023-24
Water Augmentation
NGO/Implementation Partners: Seva Mandir & Water for People India Trust
25
Villages
Launched in 2017, our program in Amravati (Maharashtra) and Udaipur (Rajasthan), tackles critical water and
sanitation challenges. Preceded by thorough groundwork, including feasibility studies and roundtable
discussions with experts, we began with a goal to support 36 villages. Recognizing the pressing need, we
extended the program and it now covers 100+ villages.
130K
Beneficiaries
The initiative's collaborative approach involves support from organizations like the Government of Maharashtra,
Water Safety Security Department and UNICEF, ensuring a comprehensive response to water-related issues in the
region.The water program's success is rooted in its comprehensive approach, addressing critical water
management and sanitation challenges while fostering community engagement and sustainable practices.
100
Green Jobs Created Towards Cleaner,
Impact FY 2023-24
Healthier Communities
40+ tonnes
Sanand, Gujarat
Enhancing
40
Villages Impacted
For years, the villagers of Vincchiya struggled with plastic waste, Sanitation
Waste Collected a challenge that seemed insurmountable until a partnership with Facilities and
& Segregated Colgate brought hope. Delivering WASH
Education
At the forefront of this transformation was Vincchiya Prathmik Shala,
led by its dedicated principal. He believed in the power of education 14K+
30+ tonnes
Carbon Emissions
to foster change and focused on the village's children. The journey
began with simple steps: teaching students to segregate dry and wet
Ensure Water
Availability
Beneficiaries
waste through engaging workshops and interactive sessions. The and
Diverted children eagerly participated, absorbing lessons on responsible Improving
waste management and environmental stewardship.
Workshops conducted by the NGO, demonstrated the lifecycle of a

Water Quality Promoting
Rainwater
46 Mn
Liters Water Repurposed
300K+
Energy Saved*
kWh plastic bottle, sparking a realization in the children about the long-
term impact of plastic waste. This inspired them to take action. The
Harvesting
school became a hub of activity, with students leading cleanliness

drives and recycling efforts, creating innovative items from recycled
materials. ~2K Children
190
Moreover, aligning with the nationwide drives like
Covered under
Households The partnership with Colgate had not only improved waste
management practices in the village but had also enriched the lives
JalShakti and Jal Jeevan Mission amplifies the
WASH Education
program's impact, contributing to broader goals
Electricity Saved** of the villagers, fostering a sense of unity and purpose. Today, of water security and sustainable development.
Vincchiya is on its way to becoming plastic-free, a testament to the
power of education and community spirit. Through these water programs collectively we have repurposed over 410 Million Liters of water since 2017,
* Warmtool, Usepav.15 used for calculation
** Energy saved enough to light up one bulb across 100+ villages impacting 100,000+ beneficiaries.
per household for 1 month
106 107
Outperform
Compared to last year, we brought more tangible improvements in the lives of people in FY 2023-24, thus
outperforming the targets we had set for ourselves.
A few of the strategic initiatives of our flagship program, Colgate Bright Smiles, Bright Futures® includes tie-ups
with the state governments of Uttar Pradesh and Andhra Pradesh, where the health and teaching professionals
help deliver the program at grass root levels.
Additionally, we have a partnership with

IMPAct4Nutrition, a renowned knowledge and
resource platform incubated by UNICEF India.
Anicut Restoration, Kaliwas Village, Rajasthan
A Story of Transformation
Amravati, Maharashtra
In the heart of Jaitadehi Village, the Higher Secondary

School faced a significant challenge: a lack of access to
clean drinking water and proper sanitation. Headmaster
Jitendra Rahti often heard from concerned parents about
their children's health issues due to dehydration. Students
had to bring water from home, but it wasn't enough for the
whole day, forcing them to leave school multiple times to CPIL inked a partnership with Uttar Pradesh State Government to reach 5 million children as part of Colgate BSBF program by 2026
fetch more water. This disrupted their learning and reduced

school attendance. Indian Social Impact Awards
The situation took a turn for the better when Colgate's
water program intervened. The school was equipped with a
AWARDS
reliable water supply and proper sanitation facilities. The
impact was immediate. With access to drinking water,
Best CSR Project Best Women Empowerment
students no longer needed to leave school during the day, of the Year - 2024 Initiative of the Year - 2024
leading to a significant improvement in attendance. Better Colgate Bright Smiles, Bright Futures® - Colgate's Livelihoods and Digital &
hydration levels helped them concentrate more on their Oral Health Education Financial Literacy Programs
studies, enhancing their academic performance.
108 109
STATUTORY REPORTS AND

FINANCIAL STATEMENTS
110
Corporate Overview Sustainability and Us Statutory Reports Financial Statements
Notice
COLGATE-PALMOLIVE (INDIA) LIMITED Executive Director and Chairperson of the Board, for a
Registered Office : term of 5 (five) consecutive years effective from July 30,
Colgate Research Centre, 2024 till July 29, 2029, not liable to retire by rotation, in
Main Street, Hiranandani Gardens, Powai, respect of whom the Company has received a notice
Mumbai 400 076. under Section 160 of the Act.
CIN : L24200MH1937PLC002700 RESOLVED FURTHER THAT any of the Whole-time
Email : investors_grievance@colpal.com Directors of the Company, be and is hereby authorised to
Website : https://www.colgatepalmolive.co.in/ do all such acts, deeds and things as may be deemed
Tel. No. : 022 6709 5050 proper and expedient to give effect to this Resolution,
without being required to seek any further consent or
NOTICE is hereby given that the Eighty-Third (83rd) Annual approval of the Members of the Company."
General Meeting of COLGATE-PALMOLIVE (INDIA) LIMITED
will be held on Tuesday, July 30, 2024 at 11.00 a.m. (IST) By Order of the Board of Directors
through Video-Conferencing / Other Audio-Visual Means to For Colgate-Palmolive (India) Limited
transact the following business:
Surender Sharma
Whole-time Director - Legal &
ORDINARY BUSINESS:
Company Secretary
1. To consider and adopt the Audited Financial Statements (FCS No: 8913/DIN: 02731373)
of the Company for the Financial Year ended March 31, Place: Mumbai
2024 and the Reports of the Board of Directors and Date : May 14, 2024
Auditors thereon.
2. To appoint a Director in place of Ms. Prabha Narasimhan NOTES:

(DIN: 08822860), who retires by rotation and, being
1. Pursuant to the Ministry of Corporate Affairs ('MCA')
eligible, offers herself for re-appointment.
General Circular No. 14/2020 dated April 8, 2020 and SEBI
Circular No. SEBI/HO/CFD/CMD1/CIR/P/2020/79 dated
SPECIAL BUSINESS: May 12, 2020, and various other circulars issued by the
MCA and SEBI and in reference to the recent MCA General
3. To re-appoint Mr. Mukul Deoras (DIN: 02869422) as a Circular No. 09/2023 dated September 25, 2023 and SEBI
Non-executive Director and Chairperson of the Circular No. SEBI/HO/DDHS/P/CIR/2023/0164 dated
Company October 6, 2023 ('hereinafter collectively referred to as
To consider and, if thought fit, to pass, the following Circulars'), the Annual General Meeting ('AGM/Meeting') of
resolution as an Ordinary Resolution: the Company will be held through Video Conferencing
('VC') or Other Audio-Video Means ('OAVM') and
"RESOLVED THAT pursuant to Articles 110 (1) and 142 (1) accordingly physical attendance of the Members at the
of the Articles of Association of the Company, the AGM venue is not required. Hence, Members can attend
relevant provisions of the Companies Act, 2013 and Rules and participate in the ensuing AGM through VC/OAVM.
framed thereunder ('the Act') and Regulation 17(1D) of
the Securities and Exchange Board of India (Listing 2. Pursuant to the provisions of the Companies Act, 2013
Obligations and Disclosure Requirements) Regulations, ('the Act'), a Member entitled to attend and vote at the
2015, (including any statutory modification(s) or re- Meeting is entitled to appoint a proxy to attend and vote
enactment thereof for the time being in force), and upon on his/her behalf and the proxy need not be a Member of
recommendation of the Nomination and Remuneration the Company. Since this Meeting will be held through
Committee and the Board of Directors, Mr. Mukul Deoras VC/OAVM, in accordance with the MCA Circulars, physical
(DIN: 02869422), be and is hereby re-appointed as Non- attendance of Members has been dispensed with.
111
Accordingly, the facility for appointment of proxies by the 8. Since the AGM will be held only through the VC/OAVM
Members will not be available for the Meeting and hence facility, the route map is not annexed to this Notice.
the Proxy Form and Attendance Slip are not annexed to
this Notice. 9. The additional details of Director retiring by rotation and
seeking re-appointment, pursuant to Regulation 36(3) of
3. The attendance of the Members attending the AGM the SEBI Listing Regulations and the Secretarial Standards
through VC/OAVM will be considered for the purpose of on General Meeting ('SS-2') issued by the Institute of
reckoning the quorum under Section 103 of the Act. Company Secretaries of India, is annexed as Annexure I
and forms part of this Notice.
4. A statement pursuant to Section 102(1) of the Act,
relating to the Special Business to be transacted is 10. In compliance with the Circulars, the Notice of the 83rd
annexed hereto. AGM and the Annual Report for the Financial Year 2023-24
are being sent only by email to the Members whose email
5. Members can join AGM in the VC/OAVM mode 15 minutes address is registered with the Company/ Depositories/
before the scheduled time of the commencement of the Depository Participants.
Meeting by following the procedure mentioned in this
Notice. The facility of participation at the AGM through 11. Members who have not yet registered their email
VC/OAVM will be made available for 1,000 Members on a addresses are requested to register the same with their
first-come-first-served-basis. This will not include large Depository Participants in case the shares are held by
Shareholders (Shareholders holding 2% or more them in electronic mode and with the Registrar & Share
shareholding), Promoters, Institutional Investors, Directors, Transfer Agent ('RTA') of the Company in case the shares
Key Managerial Personnel, the Chairpersons of Audit are held by them in physical form. However, for limited
Committee, Nomination and Remuneration Committee purposes like receiving the Notice of the forthcoming
and Stakeholders' Relationship Committee, Auditors of AGM and related documents, all the Members may
the Company, etc. who are allowed to attend the AGM register their email address with the RTA as per the
without any restriction on account of first-come-first- process given in the e-Voting instructions of the notes to
served basis. this Notice.
6. Pursuant to the provisions of Section 108 of the Act read 12. The Register of Members and Share Transfer Books of
with Rule 20 of the Companies (Management and the Company will remain closed from Wednesday, July
Administration) Rules, 2014, as amended and Regulation 24, 2024 to Tuesday, July 30, 2024 (both days inclusive).
44 of the SEBI (Listing Obligations & Disclosure
Requirements) Regulations, 2015, ('the SEBI Listing 13. In case of joint holders attending the Meeting, the joint
Regulations') as amended, and the aforesaid Circulars, the holder who is highest in the order of names will be
Company is providing a facility of remote e-Voting to its entitled to vote at the Meeting.
Members in respect of the business to be transacted at
14. The Register of Directors and Key Managerial Personnel
the AGM. For this purpose, the Company has engaged the
and their shareholding, maintained under Section 170 of
services of National Securities Depository Limited ('NSDL')
the Act and the Register of Contracts or Arrangements in
for facilitating voting through electronic means. The
which the directors are interested, maintained under
facility of casting votes by a Member using a remote
Section 189 of the Act, will be available electronically
e-Voting system as well as e-Voting during the AGM will be
for inspection by the Members during the AGM. All
provided by NSDL.
documents referred to in this Notice will also be available
7. The Notice of the AGM has been uploaded on the for electronic inspection by the Members from the date
website of the Company at https://www.colgatepalmolive of circulation of this Notice up to the date of AGM.
.co.in The Notice can also be accessed from the websites Members seeking to inspect such documents can send
of the Stock Exchanges where the shares of the Company an email to cpilagm@colpal.com.
are Listed i.e. BSE Limited and National Stock Exchange of
15. In terms of the SEBI Listing Regulations, securities of listed
India Limited at www.bseindia.com and www.nseindia.
companies can only be transferred in dematerialized
com, respectively and is also available on the website of
form with effect from April 1, 2019. In view of the above,
NSDL i.e. www.evoting.nsdl.com.
Members are advised to dematerialize the shares held by
them in physical form.
112
16. In line with the SEBI Circular SEBI/HO/MIRSD/POD- 21. Pursuant to the provisions of Section 124(6) of the Act
1/P/CIR/2024/37 dated May 7, 2024 and Circular read with the Investor Education and Protection Fund
SEBI/HO/MIRSD/ POD-1/P/CIR/2024/81 dated June 10, Authority (Accounting, Audit, Transfer and Refund)
2024, all the Members whose PAN and KYC details are Rules, 2016 (including any amendment thereto or re-
not registered/updated with the Company are requested enactment thereof for the time being in force), all equity
to do so by submitting the necessary documents and shares in respect of which dividend has not been paid or
forms which are available on RTA's website at claimed by the Member(s) for seven consecutive years
https://www.linkintime.co.in and also available on or more are required to be transferred to the IEPF
the website of the Company at https://www.colgate Authority, a Fund constituted by the Government of
palmolive.co.in/ or can be obtained by writing to India under Section 125 of the Act. During the Financial
the Company or to the RTA at the email address Year the following dividends have been transfered to
rnt.helpdesk@linkintime.co.in. IEPF in terms of the requirements of the law, which were
unpaid/ unclaimed were as below:
Further, in case of any queries/complaints, please write to
us at investors_grievance@colpal.com.
Sr. Financial Amount Date of transfer
17. Members are requested to notify immediately any change No. year to which (in J) to IEPF
it relates
in the above KYC details to the RTA of the Company if
shares are held in physical form and to the respective 1. 2015-16 63,35,745 May 26, 2023
Depository Participants, if shares are held in electronic 2. 2016-17 80,77,304 December 20, 2023
mode in order to receive all important Shareholder 3. 2016-17 65,11,590 February 1, 2024
communications and corporate benefits in a timely
manner. The Company had sent communication individually to the
concerned Members to claim their unpaid/ unclaimed
18. To prevent fraudulent transactions, we urge the Members
dividend amount(s) and that failure to claim the same
to exercise due diligence and notify the Company of any
would lead to their dividend/equity shares being
change in address/stay abroad or demise of any Member
transferred to the IEPF Authority without any further
as soon as possible. Members are requested not to leave
notice.
their demat account dormant for long. Periodic statements
of holdings should be obtained from the concerned The details of Members whose dividends have remained
Depository Participant and holdings should be verified. unpaid/unclaimed for seven consecutive years have been
placed on the website of the Company at http://www.
19. As per SEBI Circular dated SEBI/HO/MIRSD/POD-
colgateinvestors.co.in/shareholder-information/unclaimed-
1/P/CIR/2024/37 dated May 7, 2024 read with Circular
dividends. The said dividend / equity shares can be
SEBI/HO/MIRSD/ POD- 1/P/CIR/2024/81 dated June 10,
claimed by following the process given at www.iepf.gov.in.
2024, payment of dividends/interest etc, will be made
only in electronic mode to the Physical Shareholders who The Company has nominated Mr. Surender Sharma,
have updated their PAN, Contact Details, Bank Account Whole-time Director - Legal & Company Secretary, as
Details and Specimen Signature with the Company or its Nodal Officer for the purpose of coordination with
the RTA. Further, Shareholders holding shares in demat the IEPF Authority and the contact details of the Nodal
mode are requested to update their PAN, Contact Details, Officer are available on Company's website.
Bank Account Details and Specimen Signature with their
respective Depository Participants in order to receive 22. Members desirous of obtaining any information/
dividends electronically. clarification(s), intending to raise any query concerning
the Financial Statements/Annual Report of the Company,
20. Members may note that the Income Tax Act, 1961, as are requested to send the same at least 2 working days
amended by the Finance Act, 2020, mandated that before the AGM mentioning their name, demat account
dividends paid or distributed by a Company after April 1, number/folio number, email address, mobile number at
2020 shall be taxable in the hands of the Members. cpilagm@colpal.com so that the same may be replied to
Pursuant to the above, Tax will be deducted at Source suitably.
('TDS') by the Company at the time of dividend payment.
In order to enable the Company to determine the 23. All relevant documents referred to in this AGM Notice
appropriate TDS rate as applicable, Members are are available for inspection on the Company's website at
requested to submit the documents in accordance with www.colgatepalmolive.co.in.
the provisions of the Income Tax Act, 1961 within the time
prescribed by the Company.
113
THE INSTRUCTIONS FOR MEMBERS FOR REMOTE through VC/OAVM facility and have not casted their vote on
E-VOTING AND JOINING ANNUAL GENERAL the Resolutions through remote e-Voting and are otherwise
MEETING ARE AS UNDER:- not barred from doing so, shall be eligible to vote through e-
Voting system in the AGM.
Pursuant to Section 108 of the Companies Act, 2013, read with
Rule 20 of the Companies (Management and Administration) How do I vote electronically using NSDL e-Voting system?
Rules, 2014 as amended from time to time, Regulation 44
of the SEBI Listing Regulations, 2015 and Secretarial Standard The way to vote electronically on NSDL e-Voting system
on General Meetings (SS-2) issued by the Institute of consists of 'Two Steps' which are mentioned below:
Company Secretaries of India, the Members are provided with Step 1: Access to NSDL e-Voting system
the facility to cast their vote electronically, through the
e-Voting services provided by National Securities Depository A) Login method for e-Voting and joining virtual meeting
Limited ('NSDL') on all the resolutions set forth in this Notice. for Individual Shareholders holding securities in
demat mode
The remote e-voting period begins on Friday, July 26, 2024 at
8:00 a.m. IST and ends on Monday, July 29, 2024 at 5:00 p.m. In terms of SEBI circular No. SEBI/HO/CFD/CMD/CIR/P/
IST. The remote e-voting module shall be disabled by NSDL 2020/242 dated December 9, 2020 on e-Voting facility
for voting thereafter. The Members, whose names appear in provided by Listed Companies, Individual Shareholders
the Register of Members / Beneficial Owners as on the holding securities in demat mode are allowed to vote
cut-off date i.e. Tuesday, July 23, 2024, may cast their vote through their demat account maintained with
electronically. The voting right of Members shall be in Depositories and Depository Participants. Shareholders
proportion to their share in the paid-up equity share capital of are advised to update their mobile number and email Id
the Company as on the said cut-off date. Also, only those in their demat accounts in order to access e-Voting facility.
Members/Shareholders, who will be present in the AGM
Login method for Individual Shareholders holding securities in demat mode is given below:
Type of Shareholders Login Method

Individual Shareholders 1. Existing IDeAS user can visit the e-Services website of NSDL Viz. https://eservices.
holding securities in demat nsdl.com either on a Personal Computer or on a mobile. On the e-Services home
mode with NSDL. page click on the 'Beneficial Owner' icon under 'Login' which is available under
'IDeAS' section , this will prompt you to enter your existing User ID and Password.
After successful authentication, you will be able to see e-Voting services under
Value added services. Click on 'Access to e-Voting' under e-Voting services and
you will be able to see the e-Voting page. Click on Company name or e-Voting
service provider i.e. NSDL and you will be redirected to the e-Voting website of
NSDL for casting your vote during the remote e-Voting period or joining virtual
meeting & voting during the meeting.
2. If you are not registered for IDeAS e-Services, an option to register is available at
https://eservices.nsdl.com. Select 'Register Online for IDeAS Portal' or click at
https://eservices.nsdl.com/SecureWeb/IdeasDirectReg.jsp
3. Visit the e-Voting website of NSDL. Open web browser by typing the following
URL: https://www.evoting.nsdl.com/ either on a Personal Computer or on a
mobile. Once the home page of e-Voting system is launched, click on the icon
'Login' which is available under 'Shareholder/Member' section. A new screen will
open. You will have to enter your User ID (i.e. your sixteen digit demat account
number held with NSDL), Password/OTP and a Verification Code as shown on the
screen. After successful authentication, you will be redirected to the NSDL
Depository site wherein you can see the e-Voting page. Click on Company name
or e-Voting service provider i.e. NSDL and you will be redirected to the e-Voting
website of NSDL for casting your vote during the remote e-Voting period or
joining virtual meeting & voting during the meeting.
114
Type of Shareholders Login Method

Individual Shareholders 4. Shareholders/Members can also download the NSDL Mobile App 'NSDL Speede'
holding securities in demat facility by scanning the QR code mentioned below for seamless voting
mode with NSDL. experience.
NSDL Mobile App is available on
Individual Shareholders 1. Existing users who have opted for CDSL Easi/Easiest facility, can login through
holding securities in demat their existing user id and password. Option will be made available to reach
mode with CDSL e-Voting page without any further authentication. The users to login Easi/Easiest
are requested to visit CDSL website www.cdslindia.com and click on login icon &
New System Myeasi Tab and then use your existing Myeasi username & password.
2. After successful login the Easi/Easiest user will be able to see the e-Voting option
for eligible companies where the e-Voting is in progress as per the information
provided by the Company. On clicking the e-Voting option, the user will be able
to see the e-Voting page of the e-Voting service provider for casting your vote
during the remote e-Voting period or joining virtual meeting & voting during the
meeting. Additionally, there are also links provided to access the system of all
e-Voting Service Providers, so that the user can visit the e-Voting service
providers' website directly.
Individual Shareholders 3. If the user is not registered for Easi/Easiest, option to register is available at CDSL
holding securities in demat website www.cdslindia.com and click on login & New System Myeasi Tab and
mode with CDSL then click on registration option.
4. Alternatively, the user can directly access e-Voting page by providing
Demat Account Number and PAN No. from an e-Voting link available on
www.cdslindia.com home page. The system will authenticate the user by sending
OTP on registered Mobile & Email as recorded in the Demat Account. After
successful authentication, user will be able to see the e-Voting option where the e-
Voting is in progress and also be able to directly access the system of all e-Voting
Service Providers.
Individual Shareholders You can also login using the login credentials of your demat account through
(holding securities in demat your Depository Participant registered with NSDL/CDSL for e-Voting facility.
mode) login through their Upon logging in, you will be able to see the e-Voting option. Click on e-Voting
depository participants option, you will be redirected to NSDL/CDSL Depository site after successful
authentication, wherein you can see the e-Voting feature. Click on Company
name or e-Voting service provider i.e. NSDL and you will be redirected to the e-
Voting website of NSDL for casting your vote during the remote e-Voting
period or joining virtual meeting & voting during the meeting.
115
Important note: Members who are unable to retrieve User ID/ Password are advised to use Forget User ID and Forget
Password option available at abovementioned website.
Helpdesk for Individual Shareholders holding securities in demat mode for any technical issues related to login through
Depository i.e. NSDL and CDSL.
Login type Helpdesk details

Individual Shareholders holding Members facing any technical issue in login can contact NSDL helpdesk
securities in demat mode with NSDL by sending a request at evoting@nsdl.com or call at 022 - 4886 7000
Individual Shareholders holding Members facing any technical issue in login can contact CDSL helpdesk
securities in demat mode with CDSL by sending a request at helpdesk.evoting@cdslindia.com or contact at toll
free no. 1800 22 55 33.
B) Login Method for e-Voting and joining virtual meeting for Shareholders other than Individual Shareholders
holding securities in demat mode and Shareholders holding securities in physical mode.
How to Log-in to the NSDL e-Voting website?

1. Visit the e-Voting website of NSDL. Open a web browser by typing the following URL: https://www.evoting.nsdl.com/
either on a Personal Computer or on a mobile.
2. Once the home page of e-Voting system is launched, click on the icon 'Login' which is available under 'Shareholder/
Member' section.
3. A new screen will open. You will have to enter your User ID, your Password/OTP and a Verification Code as shown on
the screen.
Alternatively, if you are registered for NSDL eservices i.e. IDEAS, you can log-in at https://eservices.nsdl.com/ with your
existing IDEAS login. Once you log-in to NSDL eservices after using your log-in credentials, click on e-Voting and you
can proceed to Step 2 i.e. Cast your vote electronically.
4. Your User ID details are given below :
Manner of holding shares i.e. Demat

Your User ID is:
(NSDL or CDSL) or Physical
a) For Members who hold shares in 8 Character DP ID followed by 8 Digit Client ID
demat account with NSDL. For example if your DP ID is IN300*** and Client ID is 12****** then your
user ID is IN300***12******
b) For Members who hold shares in 16 Digit Beneficiary ID
demat account with CDSL. For example if your Beneficiary ID is 12************** then your user ID is
12**************
c) For Members holding shares in EVEN Number followed by Folio Number registered with the Company
Physical Form. For example if folio number is 001*** and EVEN is 101456 then user ID is
101456001***
5. Password details for Shareholders other than Individual Shareholders are given below:
a) If you are already registered for e-Voting, then you can use your existing password to login and cast your vote.
b) If you are using the NSDL e-Voting system for the first time, you will need to retrieve the 'initial password' which
was communicated to you. Once you retrieve your 'initial password', you need to enter the 'initial password' and
the system will force you to change your password.
c) How to retrieve your 'initial password'?
116
(i) If your email ID is registered in your demat account or with the Company, your 'initial password' is
communicated to you on your email ID. Trace the email sent to you from NSDL from your mailbox. Open the
email and open the attachment i.e. a .pdf file. Open the .pdf file. The password to open the .pdf file is your 8
digit client ID for NSDL account, last 8 digits of client ID for CDSL account or folio number for shares held in
physical form. The .pdf file contains your 'User ID' and your 'initial password'.
(ii) If your email ID is not registered, please follow steps mentioned below in process for those Shareholders whose
email ids are not registered.
6. If you are unable to retrieve or have not received the 'Initial password' or have forgotten your password:
a) Click on 'Forgot User Details/Password?' (If you are holding shares in your demat account with NSDL or CDSL)
option available on www.evoting.nsdl.com.
b) Physical User Reset Password?' (If you are holding shares in physical mode) option available on www.evoting.nsdl.com.
c) If you are still unable to get the password by aforesaid two options, you can send a request at evoting@nsdl.com
mentioning your demat account number/folio number, your PAN, your name and your registered address etc.
d) Members can also use the OTP (One Time Password) based login for casting the votes on the e-Voting system of NSDL.
7. After entering your password, tick on Agree to 'Terms and Conditions' by selecting on the check box.
8. Now, you will have to click on 'Login' button.
9. After you click on the 'Login' button, Home page of e-Voting will open.
Step 2: Cast your vote electronically and join the General General Guidelines for Shareholders
Meeting on NSDL e-Voting system.
1. Institutional Shareholders (i.e. other than individuals,
How to cast your vote electronically and join the General HUF, NRI etc.) are required to send scanned copy (PDF/
Meeting on NSDL e-Voting system? JPG Format) of the relevant Board Resolution/Authority
letter etc. with attested specimen signature of the duly
1. After successful login at Step 1, you will be able to see all
authorized signatory(ies) who are authorized to vote,
the companies 'EVEN' in which you are holding shares
to the Scrutinizer by e-mail to scrutinizer@snaco.net
and whose voting cycle and General Meeting is in active
with a copy marked to evoting@nsdl.com. Institutional
status. Shareholders (i.e. other than individuals, HUF, NRI etc.)
2. Select 'EVEN' of the Company for which you wish to can also upload their Board Resolution / Power of
cast your vote during the remote e-Voting period and Attorney / Authority Letter etc. by clicking on 'Upload
cast your vote during the General Meeting. For joining Board Resolution / Authority Letter' displayed under 'e-
Voting' tab in their login.
the virtual meeting, you need to click on the 'VC/OAVM'
link placed under 'Join Meeting'. 2. It is strongly recommended not to share your password
with any other person and take utmost care to keep
3. Now you are ready for e-Voting as the Voting page
your password confidential. Login to the e-voting
opens.
website will be disabled upon five unsuccessful attempts
4. Cast your vote by selecting appropriate options i.e. assent to key in the correct password. In such an event, you will
or dissent, verify/modify the number of shares for which need to go through the 'Forgot User Details/Password?'
you wish to cast your vote and click on 'Submit' and also or 'Physical User Reset Password?' option available on
'Confirm' when prompted. www.evoting.nsdl.com to reset the password.
5. Upon confirmation, the message 'Vote cast successfully' 3. In case of any queries, you may refer the Frequently
will be displayed. Asked Questions (FAQs) for Shareholders and e-Voting
user manual for Shareholders available at the download
6. You can also take the printout of the votes cast by you
section of www.evoting.nsdl.com or call on.: 022 - 4886
by clicking on the print option on the confirmation page.
7000 or send a request to (Ms. Prajakta Pawle) at
7. Once you confirm your vote on the resolution, you will evoting@nsdl.com
not be allowed to modify your vote.
117
THE INSTRUCTIONS FOR MEMBERS FOR e-VOTING mentioning their name, demat account number/folio
ON THE DAY OF THE AGM ARE AS UNDER:- number, email id, mobile number at cpilagm@colpal.com.
The same will be replied by the Company suitably.
1. The procedure for e-Voting on the day of the AGM is the
same as the instructions mentioned above for remote 4. Shareholders who wish to express their views/ask
e-Voting. questions at the AGM may register themselves as
2. Only those Members/Shareholders, who have not Speaker Shareholders by writing to the Company at
casted their vote on the Resolutions through remote cpilagm@colpal.com between Monday, July 15, 2024 to
e-Voting and are otherwise not barred from doing so, Friday, July 19, 2024 (both dates inclusive).
shall be eligible to vote through e-Voting system during
5. The Company reserves the right to restrict the number
the course of the AGM and 30 minutes after the close of
of questions and number of speakers, as appropriate
AGM.
for smooth conduct of the AGM.
3. Members who have voted through Remote e-Voting will
Process for those Shareholders whose email ids are not
be eligible to attend the AGM. However, they will not be
eligible to vote at the AGM. registered with the Depositories for procuring user id and
password and registration of e-mail ids for e-voting for the
4. The details of the person who may be contacted for any resolutions set out in this notice:
grievances connected with the facility for e-Voting on
1. In case shares are held in physical mode, please provide
the day of the AGM are required to follow the same
Name, Folio No., share certificate number, PAN, mobile
process as given in point no 3 under general guidelines
number and email address and also upload the image of
for Shareholders.
share certificate in PDF or JPEG format (up to 1 MB) at
INSTRUCTIONS FOR MEMBERS FOR ATTENDING https://linkintime.co.in/emailreg/email_register.html.
THE AGM THROUGH VC/OAVM ARE AS UNDER: 2. In case shares are held in demat mode, please provide
1. Members will be provided with a facility to attend the Name, DP ID-CLID (16 digit DPID + CLID or 16 digit
AGM through VC/OAVM through the NSDL e-Voting beneficiary ID), PAN, mobile number and email address.
system. Members may access by following the steps
3. Alternatively, Shareholder/Member may send an email
mentioned above for Access to NSDL e-Voting system.
request to evoting@nsdl.com for obtaining User ID and
After successful login, you can see a link of 'VC/OAVM'
Password by providing the below mentioned details and
placed under the 'Join meeting' menu against the
Company name. You are requested to click on the documents:
VC/OAVM link placed under the Join Meeting menu. i. In case shares are held in physical mode - Folio No.,
The link for VC/OAVM will be available in Shareholder/ Name of Shareholder, scanned copy of the share
Member login where the EVEN of the Company will be certificate (front and back), PAN (self attested
displayed. Please note that the Members who do not scanned copy of PAN card), AADHAR (self-attested
have the User ID and Password for e-Voting or have scanned copy of Aadhar Card).
forgotten the User ID and Password may retrieve the
same by following the remote e-Voting instructions ii. In case shares are held in demat mode - DP ID + CL
mentioned in the notice to avoid last minute rush. ID (16 digit DP ID + CL ID or 16 digit beneficiary ID),
Name, client master or copy of Consolidated
2. Please note that Participants using Mobile Hotspot to Account statement, PAN (self-attested scanned
connect to the Meeting may experience Audio/Video loss copy of PAN card), AADHAR (self-attested scanned
due to fluctuation in their network. It is therefore copy of Aadhar Card).
recommended to use Laptop with stable Wi-Fi or LAN
Connection to mitigate any kind of glitches and better If you are an Individual Shareholders holding
experience. Members can login and join at least 30 (thirty) securities in demat mode, you are requested to refer
minutes before the time scheduled for the AGM. to the login method explained at step 1(A) i.e. Login
method for e-Voting and joining virtual meeting for
3. Shareholders who would like to express their views/ Individual Shareholders holding securities in demat
have questions may send their questions in advance mode.
118
OTHER INFORMATION ON E-VOTING AND RESULTS Stock Exchanges where the shares of the Company are
listed and National Securities Depository Limited (NSDL).
A. Any person holding shares in physical form and
non-individual Shareholders who acquires shares of F. The resolutions shall be deemed to be passed on the
the Company after sending the Notice of 83rd AGM date of the AGM, subject to receipt of sufficient votes
and holding shares as of the cut-off date i.e. Tuesday, through a compilation of Voting results (i.e. remote
July 23, 2024, may obtain the login ID and password e-Voting and the e-Voting held at the AGM).
by sending a request at evoting@nsdl.com. If you are
already registered with NSDL for remote e-Voting then NOTE ON DIRECTORS BEING REAPPOINTED
you can use your existing user ID and password/PIN Item No. 2: Ordinary Resolution
for casting your vote. If you forgot your password, you
can reset your password by using 'Forgot User Ms. Prabha Narasimhan (DIN: 08822860), joined Colgate-
Details/Password' or 'Physical User Reset Password' Palmolive (India) Limited in September 2022 as the Managing
option available on www.evoting.nsdl.com or call on Director and Chief Executive Officer ('MD & CEO') of the
toll free no. 1800 1020 990. In case of Individual Company, for a period of five (5) consecutive years with
Shareholders holding securities in demat mode who effect from September 1, 2022, liable to retire by rotation.
acquires shares of the Company and becomes a
Member of the Company after sending of the Notice As per the terms of her appointment, she is liable to retire
and holding shares as of the cut-off date i.e. Tuesday, by rotation and being eligible, has offered herself for
July 23, 2024 may follow steps mentioned in the Notice re-appointment.
of the AGM under 'Access to NSDL e-Voting system'.
Prior to joining Colgate-Palmolive (India) Limited in 2022, Ms.
B. The e-Voting period commences on Friday, July 26, 2024 Narasimhan led the Home Care category at Hindustan
at 8:00 a.m. IST and ends on Monday, July 29, 2024 at Unilever (HUL) and served on the HUL Leadership Team. A
5:00 p.m. IST. During this period, Members of the seasoned leader with a proven track record in the consumer
Company holding shares either in physical form or in goods industry, she has demonstrated strategic prowess and
dematerialized form, as on the cut-off date, may cast deep understanding of market dynamics, driving growth and
their vote by e-Voting. The e-Voting module shall be innovation across various categories over the years. As MD
disabled by NSDL for voting thereafter. Once the vote on and CEO, Ms. Narasimhan has been driving transformative
a resolution is cast by the Member, the Member shall not changes and propelling the Company toward further
be allowed to change it subsequently. E-Voting shall not success. Her focus on science-based innovation, digitization,
be allowed beyond the said date and time. and brand-building initiatives is reshaping the Company's
trajectory in the market. An alumnus of IIM Bangalore and
C. The voting rights of Members shall be in proportion to Melbourne Business School, she was recognized as one of
their shares of the paid-up equity share capital of the the distinguished women achievers at Business Today's 'Most
Company as on the cut-off date. Powerful Women in Business' of 2023.
D. Mr. S. N. Ananthasubramanian, Practising Company Ms. Prabha Narasimhan is serving as a Director on the Board
Secretary (Membership No. FCS-4206) or failing him, of Directors of The Advertising Standards Council of India
Mr. S. N. Viswanathan, (Membership No. ACS: 61955) and is also on the Board of Governors of IIM Bodh Gaya.
has been appointed to act as the Scrutinizer for the 83rd
AGM. The scrutinizer will ensure that the e-Voting Considering her rich experience and invaluable contribution
process is conducted in a fair and transparent manner. to the Board, the Nomination and Remuneration Committee
and the Board of Directors have recommended her
E. The results shall be declared after receiving the re-appointment to the Members of the Company.
consolidated Scrutinizers' Report from the Scrutinizer.
The results declared along with the Scrutinizers' Brief details of Ms. Prabha Narasimhan pursuant to
Report shall be placed on the Company's website at Regulation 36(3) of the SEBI Listing Regulations and
www.colgatepalmolive.co.in and on the websites of Secretarial Standard - 2 are provided in Annexure I.
119
Except Ms. Prabha Narasimhan, being the appointee, none Colgate-Palmolive Company, USA from 2015 until 2018 and
of the Directors and Key Managerial Personnel of the has also served several leadership positions such as President
Company and their relatives are concerned or interested, of the Asia Division, Managing Director for Colgate-Palmolive
financially or otherwise, in passing of the resolution set out (India) Limited, and has led Colgate-Palmolive's Thailand
in Item No. 2 of this Notice. Further, the relatives of business and Global Personal Care Marketing function. Before
Ms. Narasimhan are also deemed to be interested in this joining Colgate-Palmolive, Mr. Deoras held positions of
resolution, to the extent of their shareholding in the increasing responsibility in marketing and sales at Hindustan
Company, if any. Unilever Ltd. from 1984 to 2004. Mr. Deoras holds a
postgraduate degree from IIM, Ahmedabad. He was
Based on the recommendation of Nomination and appointed as Chairperson of the Company in September 2018.
Remuneration Committee, the Board of Directors considers
the appointment of Ms. Prabha Narasimhan in the interest of Mr. Deoras is serving as Director on the Board of Directors of
the Company and recommends the Ordinary Resolution set Wyndham Hotels and Resorts Inc.
out at Item No. 2 of this Notice for approval of the Members.
The Company has received a letter from Colgate-Palmolive
Company, USA nominating Mr. Mukul Deoras as the 'Non-
THE EXPLANATORY STATEMENT SETTING OUT ALL
retiring Director and Chairperson'.
MATERIAL FACTS CONCERNING EACH OF THE BUSINESS TO
BE TRANSACTED AT THE 83RD ANNUAL GENERAL MEETING Mr. Deoras is not disqualified from being appointed as
AS STATED IN THE NOTICE DATED MAY 14, 2024: Director in terms of Section 164 of the Act nor debarred
[Pursuant to Section 102 of the Companies Act, 2013 and from holding the office of director by virtue of any SEBI
Secretarial Standard-2 ] order or any other such authority and has given his consent
to be re-appointed as Non-Executive Director and
Item No. 3: Ordinary Resolution
Chairperson on the Board of the Company. A Notice under
The Board of Directors of the Company approved the Section 160 of the Act has been received from a Member
appointment of Mr. Mukul Deoras (DIN: 02869422), as a proposing Mr. Deoras as a candidate for the Office of the
Non Retiring Director and a Chairperson effective September Director of the Company. He does not hold any shares.
1, 2018, pursuant to the nomination by Colgate-Palmolive
Considering his rich experience and invaluable contribution
Company, USA under the Articles 110 (1) and 142 (1) of the
to the Board, the Nomination and Remuneration
Articles of Association of the Company.
Committee and the Board of Directors have recommended
In terms of the requirements of Regulation 17(1D) of the SEBI his re-appointment to the Members of the Company.
Listing Regulations, (including any statutory modification(s)
Brief details of Mr. Mukul Deoras pursuant to Regulation
or re-enactment thereof for the time being in force) ('SEBI
36(3) of the SEBI Listing Regulations and Secretarial
Listing Regulations'), continuation of a director serving on
Standard - 2 are provided in Annexure I.
the board of directors of a listed entity shall be subject to the
approval by the Shareholders in a general meeting at least Except Mr. Mukul Deoras, being the appointee, none of the
once in every five years from the date of their appointment Directors and Key Managerial Personnel of the Company
or reappointment, as the case may be. and their relatives are concerned or interested, financially or
otherwise, in passing of the resolution set out in Item No. 3
Considering that the five years have elapsed since the date of
of this Notice. Further, the relatives of Mr. Deoras are also
the first appointment of Mr. Mukul Deoras, it is required to
deemed to be interested in this resolution, to the extent of
seek the approval of the Members of the Company for the
their shareholding in the Company, if any.
reappointment of Mr. Deoras as a Non-Executive Director and
Chairperson of the Company for a period of 5 (five) Based on the recommendation of Nomination and
consecutive years effective from July 30, 2024 till July 29, Remuneration Committee, the Board of Directors considers
2029, not liable to retire by rotation. the appointment of Mr. Mukul Deoras in the interest of the
Company and recommends the Ordinary Resolution set out
Mr. Mukul Deoras is the President of the Asia Pacific Division
at Item No. 3 of this Notice for approval of the Members.
of Colgate-Palmolive. He was a Chief Marketing Officer of
120
Annexure I
DETAILS OF DIRECTORS SEEKING RE-APPOINTMENT AT THE

83rd ANNUAL GENERAL MEETING
[Pursuant to Regulation 36(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and
Secretarial Standard 2 on General Meetings]
Name of the Director Ms. Prabha Narasimhan Mr. Mukul Deoras
DIN 08822860 02869422
Date of Birth/Age October 25, 1972 May 20, 1963
Nationality Indian Indian
Qualification Post Graduate Diploma In Business Post Graduate Degree in Management

Management, Marketing from Indian from the Indian Institute of
Institute of Management, Bangalore Management, Ahmedabad
Expertise in Business Strategy, Sales & Marketing, Management and Strategy, Marketing
specific areas Consumer Insights, Understanding of and Sales, Financial Controls, Corporate
Socio-economic environment, Financial Governance, Digital and IT skills.
Control, Risk Management, Corporate
Governance
Date of first September 01, 2022 September 01, 2018

appointment on
the Board
Number of shares Nil Nil

held in Colgate-Palmolive
(India) Limited including
beneficial interest
Name of other 1 1
companies in which The Advertising Standards Council Wyndham Hotels and Resorts Inc.
he/she holds Directorship of India
Details of listed entities None None

from which the person
has resigned in the past
three years
Chairperson/Member Nil Nil

of the Committee(s) of
Board of Directors of
other Companies in
which he/she is a
Director
Relationship between There is no inter-se relationship There is no inter-se relationship between

Directors and Key between Ms. Prabha Narasimhan, other Mr. Mukul Deoras, other Members of the
Managerial Personnel Members of the Board and Key Board and Key Managerial Personnel of
inter-se Managerial Personnel of the Company. the Company.
121
Name of the Director Ms. Prabha Narasimhan Mr. Mukul Deoras
Terms of Appointment Appointment as the Managing Director Mr. Mukul Deoras was appointed as a
along with details of & Chief Executive Officer of the Non Retiring Director and Chairperson
remuneration sought Company for a period of five (5) effective September 1, 2018.
to be paid and the consecutive years effective Considering that 5 years have elapsed
remuneration last September 1, 2022. Terms of since the date of his appointment, in
drawn by such person, Appointment along with details of last terms of the requirements of Regulation
if applicable drawn remuneration as approved by 17 (1D) an approval is being sought for
Members is available in the Corporate his reappointment effective July 30,
Governance Report which forms part of 2024 till July 29, 2029, not liable to retire
Board's Report. As per the provisions of by rotation. Mr. Mukul Deoras is not
Section 152 of the Companies Act, 2013, eligible to draw any remuneration from
she retires by rotation at this Annual the Company.
General Meeting and being eligible
offers herself for re-appointment.
Number of Board 5 5
meetings attended
By Order of the Board of Directors

For Colgate-Palmolive (India) Limited
Surender Sharma
Whole-time Director - Legal &
Place: Mumbai Company Secretary
Date : May 14, 2024 (FCS No: 8913/DIN: 02731373)
122
Report of the Directors

To,
The Members,
Colgate-Palmolive (India) Limited
Your Directors are pleased to present their 83rd Report and Audited Financial Statements of the Company for the Financial
Year ended March 31, 2024.
Financial Highlights (H in Crores)

FY 2023-24 FY 2022-23
Total Revenue (a+b+c) 5,756.95 5,279.77
Sales (a) 5,644.18 5,187.86
Other Operating Revenue (b) 36.25 38.33
Other Income (c) 76.52 53.58
Profit before Tax and exceptional items and Tax 1,800.83 1,420.88
Profit before Taxation 1,781.33 1,409.67
Tax Expense 457.67 362.53
Profit for the year 1,323.66 1,047.14
Other Comprehensive Income (net of Tax)(gain) (0.23) 4.89
Total Comprehensive Income 1,323.89 1,042.26
Balance brought forward 1,296.53 1,308.08
Profit available for appropriation 2,620.42 2,350.34
Balance transferred to Retained Earnings from Share Options Outstanding 1.06 6.93
Account
Appropriation :
Dividend (1,169.54) (1,060.74)
Dividend Distribution Tax - -
Balance carried forward 1,451.94 1,296.53
Business Performance
Reported Net Sales for the Financial Year 2023-24 stood at H 5,644.18 Crores against H 5,187.86 Crores of previous year. Net
Sales increased by 8.8% in comparison to the previous year. Reported Net Profit after tax for the Financial Year 2023-24 was
H 1,323.66 Crores, an increase of 26.4% over the previous year.
Despite the challenging business and economic environment, your Company continues to sustain its leadership position in both
the Toothpaste and Toothbrush categories during the Financial Year 2023-24.
Dividend
During the year, the Company has declared the following Dividends:
Sr. No. Name Per Share (in J) Date of Declaration Payment on and from
1. First Interim Dividend 22 26.10.2023 21.11.2023

2. Second Interim Dividend 26 14.05.2024 07.06.2024
3. One-time Special Interim Dividend 10 14.05.2024 07.06.2024
Considering the declaration of two interim dividends and a One-time Special Interim Dividend for the Financial Year 2023-
24, the Board of Directors has not recommended a final dividend for the Financial Year 2023-24.
The Company declares and pays dividend in Indian rupees. In terms of the requirements of the Income Tax Act, 1961, the
Company has made the payments of Dividend after deducting the Tax at Source, as applicable. The dividend remittance
outside of India is governed by Indian laws on Foreign Exchange and are also subject to deduction of Tax at Source, as
applicable.
123
Transfer to Reserves material changes in the nature of business of the Company.

During the financial year, no amount was transferred to the
general reserves. Details of Subsidiary, Joint Venture and
Associate Company
Differential Voting Rights and Sweat Your Company does not have any Subsidiary or Joint Venture
Equity Shares or Associate Company.
During the financial year, no shares with differential voting
rights and sweat equity shares were issued. ESG & Business Responsibility & Sustainability
Reporting
Focus on Innovation and New Launches / As a leading oral care Company in India, Colgate-Palmolive
Campaign (India) Limited champions optimism and amplifies ESG
efforts to 'reimagine a healthier future for all its people and
Your Company is focused on delivering insight-driven
the planet.' We are dedicated to executing our strategy to
innovation that provides value-added new products. In the
create shared, sustainable value for all stakeholders. Our
Financial Year 2023-24, the following products were
commitment to responsible growth and sustainability
launched/relaunched:
remains unwavering. Flagship programs such as 'Colgate
Colgate Strong Teeth : Colgate Strong Teeth, the flagship Bright Smiles, Bright Futures®,' Keep India Smiling Scholarship
product was relaunched with its unique Arginine based programs, and initiatives in water conservation, waste
technology that gives a Calcium boost, and not just cleans management, and digital and financial literacy drive social
your teeth but also nourishes them. It was launched with a impact, preserve the environment, and reach millions. We
new campaign 'Paste hi Nahin, Daanton Ka Poshan hai yeh!'*, continuously realign our practices to innovate for good as
that is building a completely new narrative in the category by 'everyone deserves a future to smile about.' This is our third
spotlighting the significance of nourishment for stronger year of publishing the Environmental, Social and Governance
teeth. ('ESG') Report and Business Responsibility and Sustainability
Report ('BRSR'), showcasing our ESG progress, empowering
Colgate MaxFresh : Colgate MaxFresh was relaunched with a stakeholders to make informed decisions and reinforcing our
new cooling technology, packaging and communication. dedication to trust and transparency.
The new product experience provides an intense burst of
freshness that jolts you awake from your morning slumber Environment : Our Company is committed to ensuring that
and prevents innocent morning goof-ups. This was also consumers enjoy numerous benefits from using our
brought alive by a new campaign, highlighting the messaging sustainable products. We validate our product development
of 'Neend Bhago, Taazgi Jagao'. process through consumer feedback gathered from various
channels, constantly improving our processes and systems.
Colgate Active Salt : Salt is known and ingrained in Indian Insights from customer satisfaction surveys combined with
oral care traditions for a long time; Colgate Active Salt formula enhanced employee skills, drive our product innovations.
works for healthy teeth and gums which was relaunched with Additionally, we have implemented a follow-up monitoring
an improved and more potent formula that tackles oral mechanism to ensure corrective actions are taken, providing
problems right at their inception. safe, sustainable, and high-quality products to all our
Colgate Zig Zag : Going back to the roots of 'Deep consumers. To achieve the goal of delivering innovative and
Cleaning', Colgate Zig Zag was relaunched with a new sustainable products, we are focused on the following
product, packaging and proposition. Thus, creating a priority areas: Usage of recycled content and Eliminate usage
consumer perceivable winning bundle and landing the key of plastics in packaging
benefits of Zig Zag Toothbrush widening the gap to closest Social : Our people are our greatest asset, and we prioritize
competitor. building strong relationships to create a resilient, innovative, and
Colgate Super Junior : Colgate Super Junior was relaunched future-ready workforce. The Company fosters a work culture
after 7 years+ with new product, packaging & pricing that encourages creativity and employee-driven innovation,
strategy. Creating contemporary relatable Kids characters & aligning with our purpose of 'reimagining a better future for
reimagining the backer as one canvas - a first in the category, people and the planet.' Our inclusive HR policies and practices
drove availability to never before stores with a consumer ensure a safe and supportive work environment for all
winning bundle vis-a-vis competition. employees. We inspire trust by offering fair and competitive
remuneration, rewards, benefits, learning opportunities, career
growth, and work flexibility, helping us retain and attract
Change(s) in the Nature of Business
employees who share our values.
During the Financial Year under review, there were no
*Poshan (Nourishment) refers to nourishment of teeth enamel which is remineralization action through arginine fluoride technology.
124
Additionally, through our Corporate Social Responsibility Board of India ('SEBI'), your Company took a proactive
initiatives we endeavour to create a meaningful impact on the approach in adopting BRSR for the Financial Year 2021-22, a
millions of lives we touch. We organize our CSR initiatives year in advance of it becoming a mandatory requirement.
under three thematic areas: Oral Healthcare Education, Keep BRSR ensures that our investors have access to relevant
India Smiling, and Water Access, Augmentation & Waste information and disclosures with regard to our performance
Management Program. Through these programs, we focus on on ESG parameters. Your Company believes in conducting its
enlightening school children through oral health education business activities in a responsible and sustainable manner.
and tobacco prevention sensitization, empowering women
Your Company has always been steadfast in embedding ESG
through livelihoods, financial and digital literacy and
across all the functions of the Company. To showcase our
providing communities with access to safe drinking water,
commitment towards sustainable development your Company
water for sanitation, water availability for agriculture and farm-
has incorporated transparent reporting practices with regard
based activities. We are also impacting smiles for life of
to ESG responsibilities. BRSR Report illustrates the Company's
children suffering from cleft and palate deformities.
efforts towards creating a long term value for all stakeholders
Governance : The Company champions long-term value in a responsible manner. The BRSR Report for the Financial Year
creation for all its stakeholders through robust and fair 2023-24 forms an integral part of this Report and is attached
governance mechanisms. Our governance structures, as Annexure 6.
founded on integrity and transparency, ensure that ethical
standards are upheld throughout the business. Acting BRSR Core Assurance
ethically is imperative as we strive to comply with all
applicable laws while conducting business globally. Guided In terms of the requirements of the SEBI (Listing Obligations
by a highly engaged board and management, we ensure and Disclosure Requirements) Regulations, 2015 ('the SEBI
that sustainability is closely integrated with our governance Listing Regulations') and SEBI Circular SEBI/HO/CFD/CFD -
mechanisms, reinforcing our commitment to responsible and SEC-2/P/CIR/2023/122 dated July 12, 2023, the Company is
ethical business practices. required to undertake reasonable assurance of the BRSR Core
for the Financial Year 2023-24.
Our 2025 Sustainability and Social Impact Strategy is guided
by three key pillars: Driving Social Impact, Helping Millions of The Board of Directors at its Meeting held on March 14, 2024
Homes, and Preserving our Environment, abbreviated as appointed M/s. DNV Business Assurance India Private Limited
S-MIL-E. Our focus is on promoting healthier lives, contributing ('DNV') as the Assurance Provider on BRSR Core for the
to the communities where we operate, and growing the Financial Year 2023-24.
business with innovative, sustainable products. We are A Reasonable Assurance Report on BRSR Core of the
committed to conserving Earth's resources, addressing climate Company for the Financial Year 2023-24 is annexed herewith
change, and ensuring the well-being of our planet for future as Annexure 7.
generations. These principles drive all our plans and actions,
reflecting our dedication to sustainability and making a
Corporate Social Responsibility
positive impact.
The Company is committed to ensure the well-being of the
The Company has received TRUE® certification for Zero Waste
community and environment in which it operates. Corporate
(Platinum level) in 2019, for all its four manufacturing sites in
Social Responsibility ('CSR') forms an integral part of our
India, from Green Business Certification Inc. (GBCI), the
business activities. The Company's CSR Policy also reflects the
premier organization independently recognizing excellence in
Company's commitment towards society and environment.
green business industry performance and practice globally.
The CSR initiatives are carried out by the Company through a
The GBCI administers TRUE® certification for Zero Waste, a
variety of effective programs in accordance with the
program for businesses to assess performance in reducing
requirements of Section 135 and Schedule VII of the
waste and maximizing resource efficiency. Facilities earn
Companies Act, 2013, and rules made thereunder ('the Act') in
TRUE® certification by achieving minimum program
partnership with reputed NGOs and agencies. The ESG and
requirements and attaining points; the program operates on a
Corporate Social Responsibility Committee and the Board of
ranking system, with 'Platinum' being the highest certification
Directors closely review and monitor, from time to time, the
level. We continue to maintain the certification as our
various CSR activities undertaken by the Company. The key
Diversion Rating at more than 99% as per the requirements.
CSR programs undertaken by your Company during the
The Company is the first in India to receive such certification.
Financial Year 2023-24 are :
Business Responsibility and Sustainability 1. Colgate Bright Smiles, Bright Futures®;

Reporting 2. Water Augmentation for Livelihoods & Women
In line with the requirements of Securities and Exchange Empowerment - with Seva Mandir;
125
3. Water accessibility program - with Water For People March 31, 2024 and of the profit and loss of the Company
India Trust; for that period;
4. Keep India Smiling Foundational Scholarship & • they have taken proper and sufficient care for the
Mentorship Program - with Shikshadaan; maintenance of adequate accounting records in
5. Smiles For Life - Program on Cleft Surgeries & Care with accordance with the provisions of the Companies Act,
Mission Smile; 2013 for safeguarding the assets of the Company and for
preventing and detecting fraud and other irregularities;
6. Waste Management Program with Nepra Foundation;
7. Financial and Digital Literacy Program with Haqdarshak; • the Annual Accounts have been prepared on a 'going
and concern' basis;
8. Support communities (Rural Upliftment) with Action Aid. • they have laid down internal financial controls to be
followed by the Company and that such internal financial
As per the requirements of Section 135 of the Act, the
controls are adequate and operating effectively; and
Company was required to spend an amount of H 27.87
Crores during the Financial Year 2023-24. During the year, • they have devised proper systems to ensure compliance
the Company spent an amount of H 30.60 Crores (including with the provisions of all applicable laws and that such
an unspent amount of H 5.53 Crores for the Financial Year systems are adequate and operating effectively.
2022-23).
Human Resources
The total amount allocated for CSR Expenditure could not
be spent during the year owing to challenges like closure of At Colgate-Palmolive (India) Limited, we believe that our
schools for prolonged periods during severe winters in the employees are our most important asset. Our commitment
northern region and election protocols in some regions to foster a positive, harmonious and productive environment
hindered our ability to reach all targeted schools. These has been unwavering throughout the last year. We have
unforeseen circumstances led to a deviation from our continued to strengthen and elevate the positivity and
intended coverage goals. As a result, an amount of H 2.80 consistency of our value based behavior through a series of
Crore has remained unspent within our allocated budget for strategic initiatives and programs aiming to further enhance
the year and the same has been transferred to the 'Colgate- communication, engagement, inclusion and overall well
Palmolive (India) Limited - Corporate Social Responsibility being under our SHAPE ('Strategic and Holistic Approach for
Unspent Account (BSBF) - 2023-24', in terms of the People Excellence') framework. We have successfully
requirements of law. maintained a harmonious relationship with our workforce
and the labor unions representing them wherever applicable.
A detailed description of the above programs/ activities is
contained in the Annual CSR Report which forms an integral We have maintained an open & transparent communication
part of this Report and is annexed as Annexure 2. policy through 'My Voice' a grievance redressal platform, that
The contents of the CSR Policy as well as the CSR programs encourages employees across all levels to share their ideas,
undertaken by the Company are available on the Company's concerns, and feedback to improve our sites. We have also
website at https://www.colgateinvestors.co.in/policies. leveraged our regular committee meetings (Canteen, Welfare
etc), 'Lets talk' (engagement with site leaders) in keeping our
lines of communication open and transparent. This year, we
Directors Responsibility Statement
have started working on implementing digitalization for
Pursuant to Section 134(5) of the Companies Act, 2013, your improving communication and connect across all the levels
Company's Directors, based on the representations received at sites.
from the Management, confirm that :
At Colgate, we do recognize the importance of continuous
• in the preparation of the Annual Accounts for the learning, we continue to leverage our training program on anti
Financial Year ended March 31, 2024, the applicable bribery, human rights, Prevention of Sexual Harassment
Accounting Standards have been followed along with ('POSH'), Safety, Quality and other operating fundamentals.
proper explanation relating to material departures; Our Flagship young leaders development program 'Udaan'
has identified and nurtured potential of our 'Early in career'
• they have selected such accounting policies and applied
leaders to elevate engagement and enhance people
them consistently and made judgments and estimates
management capabilities at the workplace. This year the Data
that are reasonable and prudent so as to give a true and
and Analytics Gurukul program has helped our employees to
fair view of the state of affairs of the Company as at
upgrade their data analytical skills.
126
Diversity and inclusion are at the center of our employee Particulars of Employees
relations approach. We use a life stage support-related
Information as per Section 197 of the Act read with the
counseling framework to increase inclusion and break in
Companies (Appointment and Remuneration of Managerial
carrers. We are proud to share the good wins of this
Personnel) Rules, 2014 is provided in Annexure 4 to this
framework on the shop floor.
Report.
Our employees' health and well-being are our top priority.
The statement containing the names of top ten employees
For this year, our Employee Assistance Program, Live Better
in terms of remuneration drawn and the particulars of
initiatives, and well-being principles provided ongoing,
employees as required under Section 197(12) of the Act read
confidential help (as needed) to employees facing personal
with Rule 5(2) of the aforementioned Rules forms integral
and professional issues.
part of this Report and will be made available on request
We found the last year to be highly rewarding and enriching, sent to the dedicated email address of the Company at
particularly in terms of using HR policies and technologies to cpilagm@colpal.com.
ensure that employee issues were addressed immediately,
minimizing the impact on morale and productivity. Trade Relations
Your Directors wish to record appreciation of the continued,

As we move into the next financial year, we are committed to
unstinted support and cooperation from its retailers, stockists,
enhancing our employee relations further leveraging SHAPE,
suppliers of goods/ services, clearing and forwarding agents
My voice, Lets talk and other initiatives. We plan to leverage
and all others associated with it. Your Company will continue
our revised Operations Team Leader Excellence (OTLE)
to build and maintain a strong association with its business
framework to expand our connect and underscore inclusive
partners and trade associates.
leadership for adoption readiness on newer ways of working.
As on March 31, 2024, the total number of employees were Energy Conservation, Technology Absorption
2221. and Foreign Exchange
The detailed description of the Employee Initiatives taken by The information required under Section 134(3)(m) of the Act
the Company are included in the Management Discussion read with the Companies (Accounts) Rules, 2014 with respect
and Analysis on page no. 166. to conservation of energy, technology absorption and
foreign exchange earnings/outgo is attached as Annexure 3
Prevention of Sexual Harassment at workplace to this Report.
Our organization maintains an unwavering stance against all

Corporate Governance
forms of harassment and discrimination, including but not
limited to sexual harassment. To uphold this commitment, we A separate report on Corporate Governance laying down the
have established an Internal Complaints Committee (ICC) Company Philosophy on the Corporate Governance as well
dedicated to the thorough investigation and resolution of as all the disclosures as required under the SEBI Listing
sexual harassment allegations. We strongly encourage Regulations along with the Auditors' Certificate on its
employees to voice their concerns and report any incidents of compliance with the corporate governance requirements
harassment to the ICC without hesitation. under the SEBI Listing Regulations forms an integral part of
this Report and is annexed as Annexure 1.
To further reinforce our commitment, we have implemented
a comprehensive Policy on the Prevention of Sexual Directors and Key Managerial Personnel
Harassment. This Policy is meticulously reviewed and
updated by the ICC at regular intervals to ensure its Since April 1, 2023 till the date of this Report, the following
continued relevance and effectiveness. When a complaint is changes have taken in the Board of Directors and the Key
lodged with the ICC, it is handled with the utmost fairness Managerial Personnel (in the order of their occurrence):
and confidentiality. We are resolute in our stance against any
• Re-appointment of Ms. Sukanya Kripalu (DIN : 06994202)
form of retaliation towards employees who come forward
as Non-Executive, Independent Director for a second
with complaints. Our goal is to foster a safe and respectful
term of 5 (five) consecutive years w.e.f. June 1, 2023 till
workplace where every individual feels secure and valued.
May 31, 2028;
During the Financial Year 2023-24, 1 complaint was received, • Appointment of Dr. (Mr.) Indu Bhushan (DIN: 09302960)
investigated and appropriately resolved by the ICC.
127
as Non-Executive, Independent Director for a first term experience (including the proficiency) which bring
of 5 (five) consecutive years with effect from July 26, tremendous value to the Board and to the Company.
2023 till July 25, 2028;
• Appointment of Mr. Sanjay Gupta (DIN : 05100297) as Directors and Officers Liability Insurance Policy
Non-Executive, Independent Director for a first term of The Company has a Directors and Officers Liability Insurance
5 (five) consecutive years with effect January 22, 2024 Policy which protects Directors and Officers of the Company
till January 21, 2029; for any breach of fiduciary duty.
• Retirement of Ms. Shyamala Gopinath (DIN : 02362921)
- effective May 31, 2024, Mr. Vikram Singh Mehta (DIN : Familiarization Program
00041197) and Dr. (Ms.) Indu Shahani (DIN : 00112289) -
The Company conducts familiarization programs for
both effective July 24, 2024 as Independent Directors of
Independent Directors with regard to their roles, rights,
the Company upon completion of their second term of
responsibilities towards the Company, the business
serving as Non-Executive, Independent Directors of the
operations of the Company, etc. Detailed presentations are
Company. The Board recognises their valuable efforts
made to the Board and its committees from time to time.
during the subsistence of their term and places its
appreciation on record. Gist of Familiarization programs conducted during the
Based on the declarations provided by Dr. Bhushan and Financial Year 2023-24 are as follows:
Mr. Gupta, they both are Independent of the Management.
Sr.
Program/Presentation
Pursuant to the provisions of Section 152 of the Act, Ms. No.
Prabha Narasimhan (DIN : 08822860), Managing Director 1. Business Updates
and Chief Executive Officer of the Company, retires by
2. Regulatory updates
rotation at the ensuing Annual General Meeting and being
eligible, has offered herself for re-appointment. Based on 3. Risk Updates
the recommendation of the Nomination and Remuneration 4. Cyber Security Updates
Committee, the Board recommends her re-appointment.
5. Tax Updates
Mr. Mukul Deoras (02869422) was appointed as a Non 6. CSR & Sustainability Updates
Retiring Director and Chairperson effective September 1,
2018. In terms of requirements of Regulation 17(1D) of the 7. Succession Planning
SEBI Listing Regulations, no director shall continue on the 8. Update on Shareholder Matters
Board for more than 5 years without seeking the approval of
9. Strategy Meets
the Members. Considering that 5 years have elapsed since
the date of his appointment, an approval is being sought for
Details of the familiarization programs extended to the
reappointment of Mr. Deoras for a period of 5 years effective
Independent Directors during the Financial Year 2023-24 are
July 30, 2024 till July 29, 2029, not liable to retire by rotation,
disclosed on the Company website from time to time at
at the ensuing Annual General Meeting of the Company.
http://www.colgateinvestors.co.in/policies. The said details
As on March 31, 2024, Ms. Prabha Narasimhan, Managing are also available on CG Report on page no. 139.
Director and Chief Executive Officer, Mr. M S Jacob, Whole-
time Director & Chief Financial Officer and Mr. Surender Number of Board Meetings
Sharma, Whole-time Director Legal & Company Secretary
During the Financial Year 2023-24, five (5) Board meetings
were the Key Managerial Personnel of the Company.
were held on May 12, 2023; July 26, 2023; October 26,
2023; January 22, 2024; and March 14, 2024. The details of
Declaration of Independence : which are provided in the Corporate Governance Report
The Company has received the necessary disclosures under that forms an integral part of the Board's Report.
the Act and the SEBI Listing Regulations including
declarations from all Independent Directors that they meet Committees
the criteria of independence as laid down under Section The Board of Directors of the Company has established
149(6) of the Act and the SEBI Listing Regulations. In the various Board committees to assist in discharging their
opinion of the Board, the Independent Directors fulfil the duties. These include Audit Committee, Stakeholders'
conditions specified in the SEBI Listing Regulations and are Relationship Committee, ESG and Corporate Social
independent of the management. Further, the Independent Responsibility Committee, Risk Management Committee
Directors possess integrity and necessary expertise and
128
and Nomination and Remuneration Committee. The Board Performance Evaluation of its own performance, as well as
has approved the terms of reference for each of these the performance of its Committees, its Members including
committees. All the committees of the Board hold Independent Directors, Executive Directors and the
their meetings at regular intervals and make their Chairperson.
recommendations to the Board from time to time as per
the applicable provisions of the Act and the SEBI Listing The Annual Performance Evaluation process has been
Regulations. designed in such a manner which helps to measure
The broad terms of reference of the said Committees are effectiveness of the entire Board, its Committees, Chairperson
stated in the Corporate Governance Report that forms an and Individual Directors. Such processes help in ensuring
integral part of this Report. overall performance of the Board and demonstrates a high
level of Corporate Governance Standards. There are various
Annual Performance Evaluation key performance areas and evaluation criteria which are
measured and analyzed during the process, few of them are
Pursuant to the provisions of the Act and the SEBI Listing
in the table:
Regulations, the Board has carried out an Annual
Sr.
Performance evaluation of Key performance areas/evaluation criteria
No.
1. Board as a whole • Proper mix of competencies to conduct its affairs effectively.

• Appropriate mix of independent and non- independent directors.
• Number and frequency of Board meetings is adequate to perform
its duties effectively.
2. Committees • Performance of the responsibilities as outlined in the charter and
applicable laws and regulations.
• Composition in terms of size, skills/expertise and experience, if
appropriate to perform its responsibilities.
• Efficiency in conduct of Meetings with sufficient time allocated on
significant or emerging issues.
3. Chairperson • Providing guidance to the Board on delineation of roles of the
Board and Management.
• Providing direction to the Board on aspects that are critical/of
strategic significance to the Company.
• Creating a cohesive environment to allow open and fair discussion.
4. Executive Directors • Understanding and knowledge of the Company and the sector it
operates in and staying abreast of the issues, trends, risks,
opportunities and competition affecting the Company.
• Understanding of duties, responsibilities, qualifications,
disqualifications and liabilities as a Director.
• Ensuring best Corporate Governance practices and compliance
with the applicable laws and regulations.
5. Independent Directors • Suitable business knowledge and understanding of the Industry in
which the Company operates.
• Exercising the independent judgement and voicing opinion freely
without any influence.
• Understanding of governance, regulatory, financial, fiduciary and
ethical requirements of the Board/ Committee.
GRI 2-18
129
The Board Members are apprised of the detailed requirements Policy on Determination of Materiality of Event or
of the law and are provided with an overview of the process. Information : This Policy lays down the criteria for
The Nomination and Remuneration Committee and the Board determining the materiality of an event or information of the
discusses the basis & various criteria for the Board, Company for purposes of making required disclosures to the
Committees, Chairperson as well as Executive and stock exchanges pursuant to the SEBI Listing Regulations.
Independent Directors.
Records Management Policy : This Policy establishes
The Evaluation for the Financial Year 2023-24 was conducted general guidelines for retaining, preserving and archiving
digitally with anonymous responses, which were then important documents and information. The Archival Policy
recorded and reported to the Nomination and Remuneration forms part of the Records Management Policy.
Committee as well as the Board. The Chairperson has
necessary discussions with the Board Members about the Code of Conduct for Prevention of Insider Trading :
performance and the outcome of the evaluation process. Pursuant to the SEBI (Prohibition of Insider Trading)
Regulations, 2015, your Company has framed a Code of
The Performance Evaluation results for the year reflected Conduct on prohibition of insider trading.
highly satisfactory performance. The specific discussions
and feedback were discussed by the Chairperson with each Dividend Distribution Policy : This Policy sets the
of the individual directors. The feedback for each of the parameters & describes the internal and external factors
committees/Board was discussed at the Meetings of which are considered by the Board of Directors for the
Nomination and Remuneration Committee and the Board. purpose of declaration of dividend.
Policy on Retirement of Directors : This Policy lays down the

Company Policies age criteria for retirement of Directors on the Board of the
Company. The criterion for age is desirable to allow smooth
The Board of Directors of your Company, from time to time,
retirement for the purpose of succession planning and
has framed and revised various Policies as per the applicable
further to induct requisite skills and competencies on the
Acts, Rules and Regulations and Standards of better
Board of the Company with appropriate continuity.
governance and administration of your Company. Overview
of the key policies, as approved by the Board of Directors is Public Policy Advocacy : This Policy deals with laying down
as follows : of standardized approach while making interactions and /or
representations to the Government / Regulatory Authorities.
Nomination and Remuneration Policy : This Policy sets the
The Company may offer opinions and recommendations to
objective, terms of reference, functions and scope of the
governments on particular issues to support its business
Nomination and Remuneration Committee for determining
goals and needs.
qualifications, experience, independence, positive attributes,
etc. relating to the appointment and remuneration for the Board Diversity Policy: The Company recognizes the
Directors, Key Managerial Personnel and Senior Management importance and benefits of having a diverse Board to enhance
employees of the Company. the quality of its performance. Diversity encompasses diversity
of perspective, experience, skills, education, background,
Corporate Social Responsibility ('CSR') Policy : This Policy ethnicity, gender and personal attributes. This policy ensures
sets out the role of the CSR Committee of the Board of that we have optimum composition of Board Members with
Directors, which includes identification of the areas where diverse experience and skill sets to achieve the objectives of
the CSR activities will be performed, evaluation of CSR the organization.
activities, review the CSR spending vis-a-vis the activities
implemented and monitoring the process of CSR projects/ The aforesaid Policies are available in the Investors Section on
programs of the Company. the website of the Company at https://www.colgateinvestors.
co.in/policies.
Risk Management Policy : This Policy provides the
framework for identification of risks of the Company, risk Vigil Mechanism
assessment and prioritization, loss prevention measures and
other risk management measures for the Company. The Company has an effective Vigil Mechanism system which
is embedded in its Code of Conduct. The Code of Conduct of
Related Party Transactions Policy : This Policy regulates the the Company serves as a guide for daily business interactions,
entry into transactions between the Company and its related reflecting the Company's standard for appropriate behaviour
parties and the required corporate approvals as per the laws and living corporate values. The Code of Conduct applies to
and regulations applicable to the Company from time to all Colgate people, including Directors, Officers, and all
time. employees of the Company. Even the Company's vendors and
suppliers are subject to the Third Party Code of Conduct
GRI 2-25
130
requirements and adherence to the same and it is a pre- were reviewed and approved by the Audit Committee.
requisite for conducting business with the Company. The During the Financial Year 2023-24, the Company has not
Code of Conduct Hotline is available on the Company entered into any material related party transaction as per the
website to report any concerns about unethical behaviour, SEBI Listing Regulations with any of its related parties.
any actual or suspected fraud or violation of the Company's Disclosures pursuant to the Accounting Standards on related
Code of Conduct. No adverse action will be taken against
party transactions have been made in the notes to the
anyone for complaining about, reporting, participating or
Financial Statements. To regulate related party transactions,
assisting in the investigation of a suspected violation of the
the Company has also framed a Policy on Related Party
Code of Conduct, unless the allegation made or information
provided is found to be intentionally false. The Company Transactions and the same is available on the Company's
conducts various training and awareness sessions on Code of website at https://www.colgateinvestors.co.in/policies.
Conduct on a continuous basis through online & offline As there were no related party transactions which were not in
modes including creative mailers to all employees. Senior
the ordinary course of the business or not on arm's length
Leadership Members at various occasions emphasize the
basis and also since there was no material related party
importance of adherence to the Company's Code of Conduct
transaction as stated above, disclosure under Section
and its ethical ways of working.
134(3)(h) of the Companies Act, 2013 in Form AOC-2 is not
The status of the Code of Conduct complaints is provided in applicable. For more details on Related Party Transactions
the Audit Committee Meetings ('ACM') and appropriate which are in ordinary course of business and on arm's length
actions alongwith Action Taken Report is presented in ACM basis, please refer Note No. 37 of Financial Statements.
and are discussed at length. Any specific suggestion/
feedback from the Committee is actioned upon. Auditors
The Code of Conduct is available at https://www.colgate M/s. S R B C & CO LLP, Chartered Accountants, Mumbai (ICAI
palmolive.com/en-us/who-we-are/governance/code-of- Firm Registration No. 324982E/ E300003), were appointed
conduct.
as Statutory Auditors of the Company for a second term at
the 81st Annual General Meeting (AGM) of the Company held
Public Deposits
on July 28, 2022, for a period of 5 (five) consecutive years
During the Financial Year 2023-24, your Company has not from the conclusion of the 81st AGM till the conclusion of the
accepted any Public Deposits under Chapter V of the Act. 86th AGM.
The Audit report for the Financial Year 2023-24 does not
Unpaid/Unclaimed Dividend
contain any qualification, reservation or adverse remarks.
In terms of the provisions of Investor Education and Further, during the Financial Year 2023-24, the Statutory
Protection Fund (Accounting, Audit, Transfer and Refund) Auditors have not reported any instances of fraud to
Rules, 2016, an amount of H 2.09 Crores of unpaid/unclaimed the Audit Committee or Board as per Section 143(12) of the
dividends were transferred during the Financial Year 2023-24 Act.
to the Investor Education and Protection Fund (IEPF).
The due dates for transfer of unpaid dividend to IEPF for

Secretarial Auditor & Secretarial Audit Report
subsequent years is provided in the Corporate Governance The Board had, in its meeting held on May 12, 2023
Report on page no. 153. appointed M/s. Dholakia & Associates LLP (ICSI Unique Code:
P2014MH034700, FCS No. 10032, COP No. 12884) to carry
Loan, Guarantees and Investment out the Secretarial Audit for the Financial Year 2023-24 under
Particulars of loans, guarantees and investment made by the the provisions of Section 204 of the Act. The Secretarial Audit
Company pursuant to Section 186 of the Act are given in Report in Form MR-3 is attached as Annexure 5 to this
Note No. 4 and 11 to the Financial Statements. Report. The Secretarial Audit Report for the Financial Year
2023-24 does not contain any qualification, reservation or
Related Party Contracts & Arrangements adverse remarks.
All related party transactions done by the Company during Cost Auditor and Cost Records
the Financial Year 2023-24 were at arm's length and in the
ordinary course of business. All related party transactions Maintenance of cost records and requirement of cost audit as
GRI 2-24
131
prescribed under the provisions of Section 148 of the Act accounting & financial records. These controls help in the
are not applicable for the business activities carried out by timely preparation of transparent, complete and accurate
the Company. financial information and statements as per the accounting
standards and principles laid down. The Audit Committee of
Annual Return your Company evaluates the internal financial controls system
periodically. The detailed note on Internal Controls is provided
The Annual Return of the Company has been placed on in Management Discussion and Analysis on page no. 168.
the website of the Company and can be accessed at
https://www.colgateinvestors.co.in/annual-report.
Awards and Accolades
Significant and Material Orders Passed by the During the Financial Year 2023-24, the company received
several key awards and accolades. For a detailed list of
Regulators or Courts
additional awards, please refer to Award sections of this report.
During the Financial Year 2023-24, there were no significant
or material orders passed by the Regulators or Courts or • Taggd & Business Today- Top 4 FMCGs to work for,
Tribunals impacting the going concern status and operations 2023.
of the Company in the future.
• ET Best Organizations- One of the Best Organizations for
Women, April 2023.
Material Changes Affecting the Company
• Indian Social Impact Awards- Best CSR Project of the
There have been no material changes and commitments
Year (BSBF - Oral Health Education) and the Best
affecting the financial position of the Company between the
Women Empowerment Initiative of the Year (Colgate's
end of the Financial Year and date of this report.
Livelihoods and Digital & Financial Literacy Program),
2024.
Compliance with Secretarial Standards
• India Workplace Equality Index- Bronze Employer for
Your Company has complied with Secretarial Standards
LGBTQIA+ Inclusion, 2023.
issued by the Institute of Company Secretaries of India on
Board and General Meetings. • Institute of Supply Chain Management (ISCM)-
'Functional Champion' for 'Resilient Supply Chain of the
Adequacy of Internal Financial Controls Year - CPG' award and the 'Best Initiatives in Demand &
Your Company has an adequate and talented team of internal Supply Alignment-CPG Sector'.
auditors that oversees the internal financial processes,
• Market Research Society of India (MRSI)- Golden Key
policies, and recommends robust internal financial controls
Award for Best Data Collection Innovation for Mouth
from time to time. These internal financial controls help to put
Audit.
in place checks on the implementation of the internal
financial controls, policies & procedures that are adopted by • Silver at the Clio Awards- 'Brush at Night - The Sweet
the Company for ensuring an orderly and efficient conduct Truth' campaign, 2024.
of its business. These internal financial controls help in
safeguarding assets, prevention & detection of frauds and/or • Recognition for Innovations for Maxfresh Relaunch and
errors, maintaining the accuracy and completeness of the Innovation for Colgate Strong Teeth Product Relaunch.
Acknowledgements
Your Directors wish to convey their deepest appreciation for the unstinted dedication, professionalism, commitment and
resilience displayed by the Company's employees at all levels and business partners, customers, vendors etc. Your Directors also
wish to express their gratitude towards the Shareholders for their continued trust, support and confidence.
For Colgate -Palmolive (India) Limited
Prabha Narasimhan M. S. Jacob

Managing Director & Whole-time Director &
Place: Mumbai Chief Executive Officer Chief Financial Officer
Date: May 14, 2024 (DIN : 08822860) (DIN : 07645510)
132
Annexure 1
Corporate Governance Report

The Company has a strong foundation that reflects Colgate's interests and is committed to creating long-term value by
values and established standards governing our ethical upholding the highest standards of Corporate Governance.
behavior. The Company continues to lay great emphasis on
the principles of Corporate Governance and demonstrate The Company is committed to facilitating the following
them in our day-to-day actions. Our pursuit towards achieving rights for its Shareholders:
good governance is an on-going process. The Board of
• Providing a fair opportunity to consider and approve
Directors, our management and all Colgate people believe
key business decisions in accordance with the
that good Corporate Governance accompanies and greatly
Companies Act, 2013 ('the Act') and the SEBI Listing
aids our long-term business success. The Company, not only in
Regulations.
letters but also in spirit, complies with the requirements of the
applicable provisions relating to Corporate Governance • Ensuring the timely and regular submission of relevant,
including but not limited to the Securities and Exchange Board sufficient, and reliable information to enable active
of India (Listing Obligations and Disclosure Requirements) participation in the corporate governance process.
Regulations, 2015 ('the SEBI Listing Regulations').
• Offering opportunities to interact with the Board and
Management during general meetings.
Company's philosophy on Code of Governance
• Maintaining effective vigil and grievance redressal
Over the years, the Company has consistently strengthened, mechanisms.
promoted and demonstrated the highest standards of
Corporate Governance culture. Good Corporate Governance is • Providing platforms for voting on key resolutions.
at the forefront of what we do, every day. The Company
• Making timely and relevant financial and non-financial
believes that good Corporate Governance is essential for
disclosures.
achieving long-term corporate goals and enhancing
stakeholder value. At the core of the Company's philosophy on • Ensuring easy access to pertinent information.
Corporate Governance is a strong emphasis on transparency,
The Company engages with Shareholders through various
accountability and integrity. The Company has set the highest
channels, including letters, emails, public advertisements,
standards of ethical behavior driving sustainable business
notices, stock exchange intimations, and website updates.
practices by fully tuning ethics and integrity in the ongoing
business relationships and decision making at each levels of
management. Reflecting its commitment to continuous Governance Structure
improvement, the Board reviews its governance practices on
The Company has a well defined Governance Structure.
an ongoing basis.
Starting from the Board of Directors, its Committees and the
Corporate Governance is a philosophy at Colgate which Management team, the Company's governance structure
centres around how we operate. It helps enhance ensures that it remains a champion of compliance, governance
transparency, disclosure as well as accountability. and accountability.
All directors and employees are bound by a Code of Board of Directors : The Board of Directors of the Company
Conduct that sets forth the Company's policies on important act as trustees and are entrusted with an ultimate
issues, including its relationship with Customers, Suppliers, responsibility of the management, directions and
Contract Manufacturers, Shareholders and Government. The performance of the Company. As its primary role is fiduciary
Company has an effective and diverse Board that sets the in nature, the Board provides leadership, strategic guidance,
principles which guide us in our everyday operations. The objective and independent view to the Company's
Company has proper systems and procedures in place for management while discharging its responsibilities, thus
ensuring the best practices. ensuring that the management adheres to ethics,
transparency and disclosures. The Board also formulates
Corporate Governance and Shareholders the policies and procedures of the Organisation and also
governs the effective implementation of the same.
The Company is dedicated to safeguarding Shareholder
133
Committees of the Board : The Board has entrusted the Board of Directors
specific tasks to the various Committees in line with their
charter. The Company has Audit Committee, Nomination Composition of the Board :
and Remuneration Committee, Stakeholders' Relationship The Board of Directors of the Company ('the Board') has
Committee, Risk Management Committee, ESG and an optimum combination of Executive, Non-Executive &
Corporate Social Responsibility Committee. There are set Independent Directors including Women Directors in
terms of reference for each of these committees as conformity with the SEBI Listing Regulations.
detailed subsequently and they operate in line with the
same and also perform any other tasks or responsibilities All the Executive Directors are liable to retire by rotation.
entrusted to them by the Board. Chairperson and Independent Directors of the Company
are not liable to retire by rotation. There is no inter-se
Chairperson : The Non-Executive Chairperson of the Board relationship between the Directors of the Company.
brings the leadership to the Board processes and approval
mechanism. He provides the guidance to the Board for As on March 31, 2024, the composition of the Board is as
arriving at effective decision making. He provides direction follows :
to the Board on aspects that are critical/of strategic
Particulars Number %
significance to the Company. He is responsible, inter-alia, for
the effective working of the Board and for ensuring that all Executive Directors 3 25%
relevant issues are placed before the Board and that all (33.3% Women)
Directors are encouraged to provide their expert guidance Non-Executive, 1 8.3%
on the relevant issues raised in the meetings of the Board. Non-Independent Director
Managing Director : The main role of the Managing Director Non-Executive, Independent 8 66.7%
is to have vision for the Company and to take the business Directors (50% Women)
to the newer heights within the overall guidance and
superintendence of the Chairperson as well as the Board. The overall women representation on the Board, as on
The Managing Director provides guidance to the Senior March 31, 2024 was 41.7%.
Leadership Team to enable them to make effective decisions
and drive the innovation, transformation and enhancements Board Processes and the flow of information :
to achieve the goals of the Company. She assumes overall The Company follows the board processes in line with the
responsibility for strategic management of business and relevant provisions of the Act read with Rules made
corporate functions including its governance processes and thereunder, Secretarial Standards on Board Meetings and
top management effectiveness. the requirements of the SEBI Listing Regulations.
Non-Executive, Independent Directors : Non-Executive, The Board and Committee Meetings are pre-scheduled and
Independent Directors play a critical role in balancing the a tentative annual calendar is aligned with the Directors
functioning of the Board by providing independent before the start of the year to ensure their participation. In
judgements on various issues raised in the Board meetings case of urgent matters, the Resolutions are passed through
like business strategies, compliance, operational efficiencies, circulation in between the Meetings.
finances, internal controls, etc. They bring in the external
perspective and help the Company adopt the industry best The Meetings during the Financial Year 2023-24 were
practices. conducted through physical mode as well as Video-
conferencing and the same were in compliance with the
Senior Management Team : The Senior Management Team requirements of the law.
comprises the leaders from different functions of the
Company and is spearheaded by the Managing Director. The The Board is apprised of all the key matters and there is a
main function of the Senior Leadership team is strategic proper channel for flow of information between management
management of the Company's business within the and the Board. The plant related and other functional matters,
framework approved and provided by the Board, ensuring supply chain topics, governance and compliance matters,
that effective systems are in place for appropriate reporting human resources and labor related matters, financial results,
to the Board on important matters. The Senior Management ESG and Corporate Social Responsibility, internal controls are
Team acts as an enabler for the key and important decisions all placed before the Committees, as per their roles and before
made at the Board level and also look into the management the Board for its deliberations. Annual and long term strategic
of the day-to-day affairs of the Company. and operating plans are presented to the Board for their
134
inputs and suggestions. Further detailed business updates The Nomination and Remuneration Committee evaluates
are made at the Audit Committee on a quarterly basis. The the candidature basis the requirement of knowledge,
Board makes elaborate discussions on these matters and experience, skill set, positive attributes and the dynamics of
seeks clarifications, wherever required before approving any the Board besides ensuring to have the statutorily compliant
item. The Committee makes necessary recommendations to Board composition. The Nomination and Remuneration
the Board which are relevant from the business, statutory Committee also recommends the Board on extension and
and compliance standpoint and the Board takes into continuation of the Independent Directors basis their
Performance Evaluation.
account such suggestions and recommendations before
approving/noting the matter placed before them. The action A formal letter of appointment is issued to the Independent
items arising out of the Board and Committee meetings are Directors at the time of appointment which apart from the
duly acted upon and a report on the status of the same is terms and conditions of the appointment contains key policy
placed before the subsequent meetings of the Committees documents and other relevant information about the
and the Board. Company. A formal induction plan is formulated for
onboarding the Independent Directors and to familiarize
Documents containing Unpublished Price Sensitive Information them with the Company, its business and management.
are submitted to the Board and Committee Members, at a
shorter notice, as per the general consent taken from the Criteria for Selection of Independent Directors and Key
Board, from time to time. Skills, Expertise, and Core Competencies of the Board :
The Board of Directors of the Company comprises of eminent
In case of urgent and important matters, separate notes
personalities and leaders from across the Industry. They
are circulated to the Board and Committee Members with
specialise in their respective fields. These Directors are
detailed description of the matter to align and keep them
nominated based on well-defined selection criteria.
informed of the important developments.
The Nomination and Remuneration Committee considers,
The Company Secretary is responsible for collation, review
inter-alia, experience, qualifications, skill set, expertise and
and distribution of all the papers and information to be
competencies, whilst recommending to the Board the
presented to the Board and Committees thereof. The notice
candidature for appointment of an Independent Director. At
of the Board and Committee Meetings coupled with Agenda
the time of appointment of Independent Directors, the
notes and relevant attachments is circulated well in advance.
Nomination and Remuneration Committee also satisfies itself
The Company Secretary also attends all the Board and
about the independence of the Directors vis-a-vis the
Committee Meetings except the Independent Directors'
Company to enable the Board to function independently of
meeting, and prepares and circulates the Minutes as per the
the management and discharge its functions and duties
statutory timelines and finalizes the same after incorporating
effectively. In case of reappointment of Independent
the comments, if any, from the Directors.
Directors, the Board also takes into consideration, the
In view of maintaining confidentiality and for ease of performance evaluation and engagement level of the
transmission, the board notes and agenda papers are Independent Directors.
circulated to the Board through a web-based application. All The candidates identified for appointment as Directors should
the requisite information is placed before the Board as per not be disqualified as per the provisions of Section 164 and
the requirements of Schedule II Part A of the SEBI Listing other applicable provisions of the Act and the SEBI Listing
Regulations. The management makes conscious efforts to Regulations. As required under Rule 6 of the Companies
update the Board from time to time, with the required (Appointment and Qualification of Directors) Rules, 2014, all
information for effective decision making. the Independent Directors have completed the registration
The Board shares the dynamics which facilitates rich and with the Independent Directors Databank.
open discussions thereby enabling effective decision making. The Board Members are expected to demonstrate the highest
standards of integrity and accountability. The Members
Board Appointments and Tenure of the Board Members:
should be prominent Members of the society as well as the
The Company has a well set process for appointment of areas of their professional operation.
Directors on the Board of the Company as listed down in the
Nomination and Remuneration Policy of the Company Composition of Board of Directors :
enumerating the skill set, qualifications, experience and The composition of the Board of Directors, their attendance at
positive attributes required for the appointment. The robust the Board Meetings held during the Financial Year under review
succession planning is in place which is presented before the and at the last Annual General Meeting along with the number
Nomination and Remuneration Committee and the Board of of other directorships, memberships and chairmanships held in
Directors from time to time. various committees of other companies, as on March 31, 2024
GRI 2-10
are given in the table below :
135
No. of the Board No. of other

No. of
Meetings during Attendance Company
No. of Memberships
the Financial Year at Last AGM Board
Name of the Category/ Directorships of other
2023-24 (July 27, Committees
Director Designation in other Company
2023 - Held of which the
companies1 Board
Held Attended Virtually) Director is a
Committees2
Chairperson2
Mr. Mukul Deoras Non Executive & 5 5 Yes - - -
Non-Independent
Mr. Vikram Singh Non Executive & 5 5 Yes 7 6 2
Mehta Independent
Dr. (Ms.) Indu Non Executive & 5 5 Yes 3 5 1
Shahani Independent
Ms. Shyamala Non Executive & 5 5 Yes 6 5 3
Gopinath Independent
Ms. Sukanya Non Executive & 5 5 Yes 5 6 0
Kripalu Independent
Mr. Sekhar Non Executive & 5 5 Yes 2 2 2
Natarajan Independent
Ms. Gopika Pant Non Executive & 5 5 Yes 1 2 1
Independent
Dr. (Mr.) Indu Non Executive & 5 4 Yes 5 3 2
Bhushan* Independent
Mr. Sanjay Gupta** Non Executive & 5 2 NA - - -
Independent
Ms. Prabha Executive, 5 5 Yes - - -
Narasimhan Managing Director &
CEO
Mr. M. S. Jacob Executive, Whole-time 5 5 Yes - - -
Director & CFO
Mr. Surender Executive, Whole-time 5 5 Yes - - -
Sharma Director-Legal &
Company Secretary
*appointed effective July 26, 2023

**appointed effective January 22, 2024
1
excludes directorships in private companies, foreign companies and bodies corporate
2
includes the memberships/chairmanships of the Audit Committee and Stakeholders' Relationship Committee. Committee Membership(s) includes
Chairmanship(s).
Notes :
- As per declarations received, none of the Directors hold office as a Director in more than twenty companies. None of
them have directorships in more than ten public companies. None of the Directors serve as a Director/Independent
Director in more than seven equity listed companies. Further, the Managing Director and Executive Directors of the
Company does not serve as an Independent Director in any other Company.
- None of the Directors were Member in more than ten committees, nor chairperson in more than five committees across all
companies in which he/she was a Director.
- None of the Directors of the Company are related to each other.
136
Number of Board Meetings held during the Financial D&O Insurance for Directors :
Year:
The Company has taken Directors and Officers Insurance
During the Financial Year, five (5) Board Meetings were held ('D&O') for all its Directors and Members of the Senior
on the following dates through Physical and Video- Management for such quantum and for such risks as
Conferencing/ Other Audio-Visual Means: determined by the Board.
May 12, 2023; July 26, 2023; October 26, 2023; January 22, Skills/Expertise/Competencies :
2024 and March 14, 2024 In terms of requirements of the SEBI Listing Regulations, the
Board of Directors have, based on the recommendation of
Attendance records :
the Nomination and Remuneration Committee, identified
During the year, all the Directors have maintained the the following core skills/expertise/competencies of Directors
attendance in the Board and Committee Meetings at 100%. as required in the context of the Company's business and
industry for it to function effectively:
Other Company Directorships :
As on March 31, 2024, the Directors of the Company held a. Knowledge of the industry in which the Company
the following directorships in other listed companies: operates;
1. Mr. Vikram Singh Mehta: As an Independent Director b. Knowledge on Company's businesses & major risks;
on the Board of Mahindra & Mahindra Limited, Apollo c. Behavioral skills - attributes & competencies to use their
Tyres Limited, Jubilant FoodWorks Limited, Interglobe knowledge and skills to contribute effectively to the
Aviation Limited and Global Health Limited. growth of the Company;
2. Dr. (Ms.) Indu. Shahani: As an Independent Director on d. Understanding of socio-political, economic and Legal &
the Board of United Spirits Limited, Bajaj Electricals Regulatory environment;
Limited and Heubach Colorants India Limited.
e. Corporate Social Responsibility;
3. Ms. Shyamala Gopinath: As an Independent Director
on the Board of Tata Elxsi Limited, BASF India Limited f. Business Strategy, Sales & Marketing;
and CRISIL Limited and acts as a Non- Executive and
Non-Independent Director and Chairperson on the g. Corporate Governance,
Board of CMS Info Systems Limited. h. Financial Control, Risk Management;
4. Ms. Sukanya Kripalu: As an Independent Director on i. Digital and IT skills and
the Board of CEAT Limited, Ultratech Cement Limited,
Entertainment Network (India) Limited and Aditya Birla j. Multiple Expertise.
Fashion and Retail Limited.
5. Mr. Sekhar Natarajan: As an Independent Director on the

Board of Bayer CropScience Limited and Ingersoll-Rand
(India) Limited.
6. Ms. Gopika Pant : As an Independent Director on the

Board of ABB India Limited.
7. Dr. (Mr.) Indu Bhushan: As an Independent Director on

the Board of United Spirits Limited, Balrampur Chini
Mills Ltd and Godrej Properties Limited.
137
The table below highlights the core skills / expertise / competencies available with each Director:
SKILLS/
EXPERTISE/ BOARD
M. V.S. I. S. S. S. G. P. M.S. S. I. S.
COMPETENCIES AS A
Deoras Mehta Shahani Gopinath Kripalu Natarajan Pant Narasimhan Jacob Sharma Bhushan* Gupta**
IDENTIFIED BY WHOLE
THE BOARD
Knowledge of Y Y Y Y Y Y Y Y Y Y - Y Y
the industry in
which the
Company
operates
Knowledge on Y Y Y Y Y Y Y Y Y Y - Y Y
Company's
businesses &
major risks
Behavioural Y Y Y Y Y Y Y Y Y Y Y Y Y
skills -attributes
& competencies
to use their
knowledge and
skills to
contribute
effectively to the
growth of the
Company
Understanding Y Y Y Y Y Y Y Y Y Y Y Y Y
of socio-
political,
economic and
legal &
regulatory
environment
Corporate Social - Y Y - Y Y Y Y Y Y Y - Y
Responsibility
Business Y Y Y Y Y Y Y Y Y - Y Y Y
Strategy, Sales &
Marketing
Corporate Y Y Y Y - Y Y Y Y Y Y - Y
Governance,
Financial Y Y Y Y - Y Y Y Y Y Y - Y
Control, Risk
Management
Digital and IT Y Y Y Y Y Y Y Y Y Y Y Y Y
skills
Multiple Y Y Y Y Y Y Y Y Y Y Y Y Y
Expertise

Independent Directors :
The Independent Directors of the Company fulfill the conditions as specified in the SEBI Listing Regulations and the Act
and are independent of the management. None of the Independent Directors serve as Independent Directors in more than
seven equity listed companies or as Whole-time Directors in any listed entity.
138
Lead Independent Director : Ananthsubramanian & Co, Practicing Company Secretaries

The Board at its Meeting held on April 28, 2022 had in terms of Regulation 25(9) of the SEBI Listing Regulations,
appointed Mr. Vikram Singh Mehta as a Lead Independent the Board is of the opinion that the Independent Directors
Director. fulfill the criteria or conditions specified under the Act and
the SEBI Listing Regulations and are independent from the
Since Mr. Vikram Singh Mehta will complete his tenure as Management.
an Independent Director of the Company w.e.f July 24,
2024, the Board at its Meeting held on May 14, 2024 Meeting of Independent Directors :
approved the appointment of Ms. Sukanya Kripalu as a As per the requirements of the Act and the SEBI Listing
Lead Independent Director w.e.f July 25, 2024. Regulations, the Independent Directors are required to
meet at least once a year to :
The role of lead independent director is in line with the
requirements of Corporate Governance which is as under: a) review the performance of non-independent directors
and the Board as a whole;
1. To convene and preside over the meetings of
Independent Directors and provide feedback to b) review the performance of the Chairperson of the
Chairperson of Board and/or Managing Director & Company, taking into account the views of executive
Chief Executive Officer; directors and non-executive directors; and
2. To communicate to the Chairperson and Management, c) assess the quality, quantity and timelines of flow of
as appropriate, any decisions reached, suggestions, information between the Company management and
views or concerns expressed by Independent Directors the Board that is necessary for the Board to effectively
at their Meetings or outside of the Meetings; and reasonably perform their duties.
3. To ensure that there is an adequate and timely flow of The Meeting of the Independent Directors was conducted
information to Independent Directors; once in the Financial Year 2023-24 through Physical means
on May 12, 2023 in compliance with the requirements of
4. To provide leadership to the Independent Directors the Act, Rules framed thereunder and Regulation 25(3)
and to liaise between the Chairperson, Executive of the SEBI Listing Regulations. The said Meeting was
Directors, Management and Independent Directors; attended by all the Independent Directors.
5. To preside over the meetings of the Board when the The Independent Directors at their Meeting inter-alia,
Chairperson is not present or where he is an interested reviewed the performance of Non-Independent Directors
party; and the Board as a whole and the performance of the
6. To ensure Board effectiveness in order to maintain Chairperson, considering the views of Executive Directors
high-quality governance and functioning of the Board; and Non-Executive Directors. They also assessed the quality,
and quantity and timeliness of flow of information between the
Management and the Board of Directors that helps the
7. To perform such other roles as may be assigned. Board in effective decision making.
A Certificate confirming that none of the Directors are Familiarization Program :

debarred or disqualified : The Company conducts familiarization programs for
In line with the SEBI Listing Regulations, the Company has Independent Directors with regard to the following :
obtained a certificate from Mr. S. N. Ananthasubramanian,
- their roles, rights, responsibilities and duties as
Partner of M/s. S. N. Ananthasubramanian & Co, Practicing
Independent Directors of the Company;
Company Secretaries (Firm Registration number:
P1991MH040400) confirming that none of the directors on - Company information such as the business operations
the Board of the Company have been debarred or of the Company, the industry in which the Company
disqualified from being appointed or continuing as Directors operates in, risks and opportunities, business model, the
of companies by the SEBI/ Ministry of Corporate Affairs or long and short term strategic goals of the Company,
any such statutory authority. The said Certificate is attached etc.; and
as Annexure CG- A to this Report.
- Company policies and procedures, internal controls as
Further, based on the confirmations/disclosures received well as risk management mechanisms.
from the Independent Directors and a certificate
from Mr. S. N. Ananthsubramanian, Partner - M/s. S. N. Besides the above, detailed presentations are made to the
Board and its Committees from time to time on various
139
matters such as Business updates, Regulatory updates, also provided with an opportunity to interact with the
strategic plans, operating plans, key product launches, leadership team to gain insights.
litigation status updates, plant update, ESG Framework, CSR
update, etc. The Functional heads are also invited from time The detailed induction program involving the briefing on
to time to present before the Board on key matters the Company's philosophy on Governance, Ethics and
pertaining to their area of expertise. Compliance coupled interactions with the leadership team is
arranged.
As and when a new director is inducted on the Company's
Board he /she is apprised of the philosophy, vision and Details of the familiarization programs extended to the
mission, working, operations and functioning of the Independent Directors during the Financial Year are disclosed
Company. They are made aware of various policies, in detail in the Board's Report on page no. 128 and
procedures and codes adopted by the Company. They are is available on the Company's website at
https://www.colgateinvestors.co.in/policies
Senior Management
Particulars of Senior Management including changes therein during the financial year 2023-24 is as under:
Nature of change
Sr.
Name of the Personnel Designation (Appointment/ Change in
No.
designation/ Cessation)
1. Ms. Prabha Narasimhan Managing Director & -

Chief Executive Officer
2. Mr. M. S. Jacob Whole-time Director & -
Chief Financial Officer
3. Mr. Surender Sharma Whole-time Director-Legal & -
Company Secretary
4. Mr. Balaji Sreenivasan Executive Vice President - -
Human Resources
5. Mr. Gunjit Jain Executive Vice President - -
Marketing
6. Mr. Ruchir Bhatnagar Executive Vice President - -
Customer Development
7. Ms. Swati Agarwal Executive Vice President - IGTC -
8. Mr. Sriram Venkatasubramanian Executive Vice President - Appointed effective January 02, 2024
End to End Supply Chain
9. Ms. Sarala Menon Executive Vice President - Retired effective April 30, 2024
End to End Supply Chain
10. Mr. Niraj Kumar Business Lead - Ceased effective October 26, 2023
Bangladesh, Nepal & Sri Lanka
Committees of the Board

The Members of the Committee are well versed in
i) Audit Committee finance matters, accounts, Company law and general
business practices.
The composition and terms of reference of the Audit
Committee (AC) is in line with the requirements of the During the Financial Year 2023-24, four (4) AC
SEBI Listing Regulations. Meetings were held on May 12, 2023; July 26, 2023;
October 26, 2023 and January 22, 2024 through
As on March 31, 2024, the AC consists of eight Members, physical means and/or through Video-Conferencing.
all of whom are Independent Directors of the Company.
140
The constitution and attendance details of the AC are as under:

AC Meetings held during
Change in constitution as
Financial Year 2023-24
Name of the Director Category approved by the Board at its
Entitled to
Attended Meeting held on May 14, 2024
attend
Ms. Shyamala Gopinath Non-Executive, 4 4 Cessation as a Chairperson of the
Chairperson Independent Director Committee effective close of
business hours on May 31, 2024
Mr. Vikram Singh Mehta Non-Executive, 4 4 Cessation as a Member effective
Independent Director close of business hours on July
24, 2024
Dr. (Ms.) Indu Shahani Non-Executive, 4 4 Cessation as a Member effective
24, 2024
Ms. Sukanya Kripalu Non-Executive, 4 4 -
Independent Director
Mr. Sekhar Natarajan Non-Executive, 4 4 Appointment as a Chairperson of
Independent Director the Committee effective June 1,
2024
Ms. Gopika Pant Non-Executive, 4 4 -
Dr. (Mr.) Indu Bhushan* Non-Executive, 2 2 -
Mr. Sanjay Gupta** Non-Executive, - - -
Mr. Surender Sharma, Whole-time Director-Legal and before submission to the board for approval, with
Company Secretary acts as a Secretary to the Committee. particular reference to:
The Chairperson of the Board, Managing Director, Whole- a. matters required to be included in the director's
time Directors & Chief Financial Officer, Internal Auditor and responsibility statement to be included in the
the Statutory Auditors are regular invitees to the Committee board's report in terms of clause (c) of sub-section
Meetings. (3) of Section 134 of the Companies Act, 2013;
Ms. Shyamala Gopinath, Chairperson of the Committee, b. changes, if any, in accounting policies and practices
attended the Annual General Meeting held on July 27, 2023 and reasons for the same;
in compliance with the requirements of Regulation 18 (1) (d)
c. major accounting entries involving estimates based
of the SEBI Listing Regulations.
on the exercise of judgment by management;
The Role/Charter of the Audit Committee in line with the
d. significant adjustments made in the financial
regulatory requirements includes:
statements arising out of audit findings;
1. oversight of the Company's financial reporting process
e. compliance with listing and other legal requirements
and the disclosure of its financial information to ensure
relating to financial statements;
that the financial statement is correct, sufficient and
credible; f. disclosure of any related party transactions;
2. recommendation for appointment, remuneration and g. modified opinion(s) in the draft audit report;
terms of appointment of auditors of the Company; 5. reviewing, with the management, the quarterly
3. approval of payment to statutory auditors for any other financial statements before submission to the board
services rendered by the statutory auditors; for approval;
4. review and examine with the management, the annual 6. reviewing, with the management, the statement of
financial statements and auditor's report thereon uses/application of funds raised through an issue
141
(public issue, rights issue, preferential issue, etc.), the 15. reviewing the findings of any internal investigations by the
statement of funds utilized for purposes other than internal auditors into matters where there is suspected
those stated in the offer document/ prospectus/ notice fraud or irregularity or a failure of internal control systems
and the report submitted by the monitoring agency, of a material nature and reporting the matter to the board;
monitoring the utilization of proceeds of a public or
16. discussion with statutory auditors before the audit
rights or preferential issue or qualified institutions
commences, about the nature and scope of audit as well
placement and making appropriate recommendations
as post-audit discussion to ascertain any area of concern;
to the board to take up steps in this matter;
17. to check whether there are any qualifications made in
7. reviewing and monitoring the auditor's independence
the draft Auditors' Report;
and performance, and effectiveness of audit process;
18. to look into the reasons for substantial defaults in the
8. approval or any subsequent modification of transactions
payment to the depositors, debenture holders,
of the Company with related parties;
Shareholders (in case of non-payment of declared
9. scrutiny of inter-corporate loans and investments; dividends) and creditors;
10. valuation of undertakings or assets of the Company, 19. to review the functioning of the whistle blower
wherever it is necessary; mechanism;
11. evaluation of internal financial controls and risk 20. approval of appointment of Chief Financial Officer after
management systems; assessing the qualifications, experience and background,
etc. of the candidate;
12. reviewing, with the management, performance of
statutory and internal auditors, adequacy of the internal 21. reviewing the utilization of loans and/or advances from/
control systems; investment by the holding Company in the subsidiary
exceeding H 100 crore or 10% of the asset size of the
13. reviewing the adequacy of internal audit function, if any,
subsidiary, whichever is lower;
including the structure of the internal audit department,
staffing and seniority of the official heading the 22. consider and comment on rationale, cost-benefits
department, reporting structure coverage and frequency and impact of schemes involving merger, demerger,
of internal audit; amalgamation etc., on the Company and its Shareholders;
and
14. discussion with internal auditors of any significant
findings and follow up there on; 23. any other item as may be assigned by the Board of
Directors, from time to time.
ii) ESG & Corporate Social Responsibility Committee
The composition and terms of reference of the ESG and Corporate Social Responsibility Committee ('ECC') is in line
with the requirements of the Act and the SEBI Listing Regulations.
As on March 31, 2024, the ECC Comprises of four Directors of which three are Independent Directors and one is
Executive Director.
During the Financial Year 2023-24, four (4) ECC Meetings were held on May 12, 2023; August 16, 2023; October 26,
2023 and March 14, 2024 through physical means and/or through video conferencing.
The constitution and attendance details of the ECC are as under:
ECC Meetings held during

the Financial Year 2023-24
Entitled
to attend
Dr. (Ms.) Indu Shahani Non-Executive, 4 4 Cessation as a Chairperson of
Chairperson Independent Director the Committee effective close
of business hours on July 24,
2024
Mr. Sekhar Natarajan Non-Executive, 4 4 -
Ms. Gopika Pant Non-Executive, 4 4 Cessation as a Member
Independent Director effective close of business
hours on July 24, 2024
142
ECC Meetings held during

the Financial Year 2023-24
Entitled
to attend
Ms. Prabha Narasimhan Executive, 4 4 -
Managing Director &
Dr. (Mr.) Indu Bhushan Non-Executive, - - Appointment as a Chairperson
Independent Director of the Committee effective July
25, 2024
Mr. Surender Sharma, Whole-time Director-Legal and Company 3. To identify and assess significant ESG and climate-
Secretary acts as a Secretary to the Committee. related risks that might impact long- term business
performance, prioritize the sustainability issues;
The Role/Charter of the ECC in line with the regulatory
requirements is as under: 4. To develop a risk appetite and tolerance level for each
1. To formulate and recommend to the Board, a Corporate ESG goals and targets, within the Company and across
Social Responsibility Policy which shall indicate the the value chain;
activities to be undertaken by the Company in areas or 5. To develop comprehensive and robust Key Performance
subject, specified in Schedule VII; Indicators ('KPIs');
2. To identify and recommend to the Board, the programs 6. To establish robust monitoring mechanism to ensure
to be carried out during the Financial Year; periodic and effective progress against established
3. To carry out evaluation of the CSR activities; KPIs, along with identified risks that could hinder the
achievement of ESG goals and targets;
4. To review and monitor the CSR programs undertaken by
the Company; 7. To develop and review stakeholder engagement plans
to enhance long-term value creation for internal and
5. To recommend the amount of expenditure to be
external stakeholders and to incorporate stakeholders'
incurred on the activities;
insights into Company's ESG strategy and action plans;
6. To review and monitor the spending on the CSR activities;
8. To enhance stakeholder interaction across ESG-related
7. To give inputs to enhance quality of the CSR activities; parameters to allow for increased opportunities for
8. To develop new areas for CSR activities; strategic innovation and trust building;
9. To seek advice from external experts or consultants on 9. To ensure compliance with ESG regulations/ mandates
CSR related matters; and augment voluntary adoption of global sustainability
frameworks;
10. To review the Corporate Social Responsibility Policy of
the Company from time to time; and 10. To integrate and review ESG parameters in the internal
audit process as well as ensure review of ESG data by an
11. To formulate and recommend to the Board, an annual
independent third party; and
action plan as per this Policy and the applicable
provisions of the Act and the applicable rules 11. Any other item as may be assigned by the Board of
thereunder; and Directors, from time to time.
12. Any other item as may be assigned by the Board of The Company's CSR Policy can be accessed at the Company's
Directors, from time to time. website at https://www.colgateinvestors.co.in/policies and
the CSR Report for the Financial Year 2023-24 forms part of
ESG Related: the Board's Report.
1. To develop relevant ESG policies that support the
iii) Risk Management Committee
Company's ESG vision;
The composition and terms of reference of the Risk
2. To oversee and review Company's strategy and policies
Management Committee ('RMC') is in line with the
in line with the macro-developments happening in the
requirements of the SEBI Listing Regulations.
ESG space;
143
As on March 31, 2024, the RMC consists of seven Members of which three are Independent Directors, three are
Executive Directors and one is a Senior Managerial Personnel.
During the Financial Year 2023-24, two (2) RMC Meetings were held on July 26, 2023 and January 22, 2024 through
physical means.
The constitution and attendance details of the RMC are as under:
RMC Meetings held

during the Change in constitution as
Name of the Director Category Financial Year 2023-24 approved by the Board at its
Entitled Attended Meeting held on May 14, 2024
to attend
Mr. Vikram Singh Mehta Non-Executive, 2 2 Cessation as a Chairperson of the
Chairperson Independent Director Committee effective close of
business hours on July 24, 2024
Ms. Shyamala Gopinath Non-Executive, 2 2 Cessation as a Member effective
Independent Director close of business hours on May 31,
2024
Managing Director &
Mr. M. S. Jacob Executive, 2 2 -
Whole-time Director &
Mr. Surender Sharma Executive, 2 2 -
Whole-time Director-
Legal & Company
Secretary
Mr. Balaji Sreenivasan Senior Management 2 2 -
Personnel
Ms. Gopika Pant Non-Executive, 2 2 Appointment as a Chairperson
25, 2024
Ms. Sukanya Kripalu Non-Executive, - - Appointment as a Member
Independent Director effective July 25, 2024
Mr. Sekhar Natarajan Non-Executive, - - Appointment as a Member
Dr. (Mr.) Indu Bhushan Non-Executive, - - Appointment as a Member
Mr. Sanjay Gupta Non-Executive, - - Appointment as a Member
Mr. Surender Sharma, Whole-time Director-Legal and 1. To formulate a detailed Risk Management Policy which
Company Secretary acts as a Secretary to the Committee. shall include:
The Board of Directors have adopted a Risk Management a. A framework for identification of internal and
Policy and Enterprise Risk Management Framework to external risks specifically faced by the Company, in
identify, assess and determine the risks and potential threats particular including financial, operational, sectoral,
to the Company and to put in place the mitigation plans. The sustainability (particularly, ESG related risks),
Company has also formed an Enterprise Risk Management information or any other risk as may be determined
Sub-Committee which reports to the RMC. The risk refresh is by the Committee;
done annually and the Board is updated on the same. b. Measures for risk mitigation including systems and
The Role/Charter of RMC in line with the regulatory processes for internal control of identified risks;
requirements is given as under: c. Business Continuity Plan.
144
2. To identify, assess and mitigate the existing as well as 11. To review systems of internal controls and business
potential risks to the Company and to recommend the contingency plans;
strategies to the Board to overcome them; 12. To keep the Board of Directors informed about the
3. To ensure that appropriate methodology, processes and nature and content of its discussions, recommendations
systems are in place to monitor and evaluate risks and actions to be taken;
associated with the business of the Company; 13. The appointment, removal and terms of remuneration
4. To oversee at such intervals as may be necessary, the of the Chief Risk Officer (if any) shall be subject to
adequacy of Company's resources to perform its risk review by the Risk Management Committee;
management responsibilities and achieve its objectives; 14. Perform such other activities related to this Policy as
5. To appoint sub-committee(s) comprising of Members requested by the Board of Directors or to address issues
from various functions like Finance, Human Resources, related to any significant subject within its term of
Legal, Regulatory, Customer Development, etc. which reference; and
shall be responsible for coordinating and updating the 15. Perform such other roles and responsibilities as
Risk Management Committee; prescribed under the SEBI Listing Regulations from time
6. To periodically review the Company's performance to time.
against the identified risks of the Company; iv) Stakeholders' Relationship Committee
7. To formulate the strategies towards identifying any The Composition and terms of reference of the
areas that may materially affect the Company's overall Stakeholders' Relationship Committee ('SRC') is in line
risk exposure and to review the Risk Management with the requirements of the Act and the SEBI Listing
Policy at least once in two years considering the Regulations.
changing industry dynamics and evolving complexity;
As on March 31, 2024, the SRC comprises six Members
8. Regularly review the Risk Management Framework for the of which four are Independent Directors and two are
operations of the Company that are deemed necessary; Executive Directors.
9. To monitor & review Cyber Security; During the Financial Year 2023-24, one (1) SRC Meeting
10. To review Disaster Management;. was held on October 26, 2023, through Video-
Conferencing.
The constitution and attendance details of the SRC are as under:

SRC Meeting held
during the Financial Change in constitution as
Name of the Director Category Year 2023-24 approved by the Board at its
to attend
Ms. Shyamala Gopinath Non-Executive, 1 1 Cessation as a Chairperson of
Chairperson Independent Director the Committee effective close of
business hours on May 31, 2024
Ms. Sukanya Kripalu Non-Executive, 1 1 -
Mr. Sekhar Natarajan Non-Executive, 1 1 Cessation as a Member
hours on May 31, 2024
Mr. Indu Bhushan* Non-Executive, 1 1 Cessation as a Member
hours on May 31, 2024
Managing Director &
Mr. M. S. Jacob Executive, 1 1 -
Whole-time Director &
145
SRC Meeting held

to attend
Mr. Sanjay Gupta Non-Executive, - - Appointment as a Chairperson
Independent Director of the Committee effective
June 1, 2024
Ms. Gopika Pant Non-Executive, - - Appointment as the Member
Independent Director effective June 1, 2024
*appointed as Member effective July 26, 2023.
Mr. Surender Sharma, Whole-time Director-Legal and 9) Any other matter as may be assigned by the Board of
Company Secretary acts as a Secretary to the Committee. Directors from time to time.
Ms. Shyamala Gopinath, Chairperson of the Committee, Shareholder's Grievances :
attended the Annual General Meeting of the Company held
The Company has a robust investor grievance mechanism
on July 27, 2023 in compliance with the requirements of
which provides for various ways through which the
Regulation 20(3) of the SEBI Listing Regulations.
Shareholders can reach out to the Company and its RTA with
The Role/Charter of Stakeholders' Relationship Committee is specified turn around time and escalation matrix. The
as under which is in line with the regulatory requirements: Shareholders have an option to write directly to the
Company or RTA through letters or emails.
1) To note the minutes of the Share Transfer Committee
Meetings; Further, for ease of operations, the Shareholders who are
KYC compliant can also use the following portals, hosted by
2) To note the synopsis of the complaints received and
the Company's RTA :
redressed;
i. 'SWAYAM' is a secure, user-friendly web-based
3) To approve allotment of shares, if any;
application with 2FA authentication, developed by the
4) To consider and resolve the grievances of the security RTA that empowers Shareholders to effortlessly access
holders; various services. SWAYAM can be accessed by clicking on
https://swayam.linkintime.co.in. The key features of this
5) Review of measures taken for effective exercise of voting
portal are ease of accessibility and tracking of service
rights by Shareholders;
requests, user friendly, ease of tracking Corporate
6) Review of adherence to the service standards adopted Actions like Dividend/Interest/Bonus/split. It permits to
by the Company in respect of various services being effortlessly raise requests and submit documents. It also
rendered by the Registrar & Share Transfer Agent; provides access to all linked PAN accounts, Company
wise holdings and security valuations.
7) Review of the various measures and initiatives taken by
the Company for reducing the quantum of unclaimed ii. 'iDIA Chatbot' is a Chatbot developed by RTA our
dividends and ensuring timely receipt of dividend Corporate Registrar, that utilizes conversational
warrants/annual reports/ statutory notices by the technology to provide investors with a round-the-clock
Shareholders of the Company; intuitive platform to ask questions and get information
about any queries. iDIA access is available on
8) To address other important issues related to Shareholders;
www.linkintime.co.in
and
During the Financial Year 2023-24, complaints were received from Investors, the details of which are as under:
Sr.
Particulars No. of Complaints
No.
1. Investor Complaints pending at the beginning of the Financial Year 4*
2. Investor Complaints received during the Financial Year 84
3. Investor Complaints resolved during the Financial Year 88
4. Remaining unresolved at the end of the Financial Year -
*4 complaints pending at the start of the year were subsequently resolved during the Financial Year 2023-24.
146
The break up of the above complaints data as on March 31, 2024 is as given below:
Number of Number of Number of

Nature of Complaints Complaints Complaints Complaints
Received Redressed in Process
Non-receipt of Dividends / Redemption Warrant 24 24 -
Non receipt of Share Certificate(s) - Transfer / Exchange / Bonus 16 16 -
Others* 48 48 -
Total 88 88 -
*Nature of complaints in the Category "Others" include non-receipt of corporate benefits, TDS deductions, name correction and disputed matter, etc.
Share Transfer Committee :
The Share Transfer Committee ('STC') of the Company deals with the share related matters such as transmission, name
deletion, issuance of duplicate share certificates as well as transfer to and from the unclaimed suspense account and escrow
accounts maintained by the Company in terms of the provisions of the law.
The Committee comprises the Members of the Board as well as officials of the Company who meet at regular intervals. The
matters approved at the Share Transfer Committee meetings are ratified by the SRC.
v) Nomination and Remuneration Committee

The composition and terms of reference of the Nomination and Remuneration Committee ('NRC') is in line with the
requirements of the Act and SEBI Listing Regulations.
The NRC consists of four Members of which three are Independent Directors and one is Non-Executive Director.
During the Financial Year 2023-24, five (5) NRC Meetings were held on May 12, 2023; July 26, 2023; October 26, 2023;
January 10, 2024 and March 14, 2024 through physical means and/or through video conferencing.
The constitution and attendance details of the NRC are as under:
NRC Meetings held

to attend
Mr. Vikram Singh Mehta Non-Executive, 5 5 Cessation as a Chairperson of
Chairperson Independent Director the Committee effective close of
business hours on July 24, 2024
Dr. (Ms.) Indu Shahani Non-Executive, 5 5 Cessation as a Member effective
24, 2024
Ms. Sukanya Kripalu Non-Executive, 5 5 Appointment as a Chairperson
25, 2024
Mr. Mukul Deoras Non-Executive Director 5 5 -
Mr. Sekhar Natarajan Non-Executive, - - Appointment as a Member
Ms. Gopika Pant Non-Executive, - - Appointment as a Member
Mr. Surender Sharma, Whole-time Director-Legal & Company Secretary acts as a Secretary to the Committee.
Mr. Vikram Singh Mehta, Chairperson of the Committee, attended the Annual General Meeting held on July 27, 2023 in
compliance with the requirements of Regulation 19(3) of the SEBI Listing Regulations.
147
The Committee has adopted a Policy relating to the 8. whether to extend or continue the term of appointment
Nomination and Remuneration for the Directors, Key of the independent director, on the basis of the report
Managerial Personnel and Senior Management employees. of performance evaluation of independent directors;
The Policy can be accessed at the Company's website at
9. Assess and undertake an annual performance
https://www.colgateinvestors.co.in/leadership-team.
evaluation of all the Members of the Board by adopting
The Role/Charter of Nomination and Remuneration various approaches such as, accomplishment of
Committee in line with the regulatory requirements, is given assigned goals, professional contributions towards the
as under: Company, self-evaluation etc,
1. Review the structure, size and composition of the Board 10. To develop a succession plan for the Board and Senior
and make recommendations to the Board with regard Management and to regularly review the plan;
to any changes that are deemed necessary; 11. Review and where appropriate, recommend to the
Board, the appropriate policies and programs for
2. Setting a formal and transparent procedure for selecting
compensation and benefits, including compensation to
new Directors for appointment to the Board;
the directors, Key Managerial Personnel, senior
3. Developing criteria for selection of candidates for the management and other employees, with the aim of
Board in the context of the Board's existing composition aligning such policies and programs with the Company's
and structure; annual and long term goals and the interests of
Shareholders. The Committee shall consider following
4. To devise a policy on diversity of Board of Directors; elements of compensation for remuneration to be paid
to the Executive Directors, Key Managerial Personnel
5. Identify and nominate for the approval of the Board, and other Senior Management namely:
candidates to fill Board vacancies as and when they
arise; (i) Base salary (the Committee shall also consider the
pension consequences if basic salary increases);
6. Ensure that the appointment of a new director, key
(ii) Bonuses and performance-related payments
managerial personnel and senior management
(including profit-sharing schemes);
employees are made on the basis of core competencies,
characteristics, independence, experience, and (iii) Discretionary payments;
qualifications etc. The Committee before appointment
(iv) Pension contributions;
may consider candidates:
(v) Benefits in kind; and
(i) from a wide range of backgrounds; and
(vi) Share options and their equivalents.
(ii) on merit and based on the objective criteria, taking
12. Recommend to the Board remuneration of the Executive
care that appointees have enough time available
Directors including Key Managerial Personnel of the
to devote to the position;
Company;
7. For every appointment of an independent director, the
13. To consider the following factors while determining the
Nomination and Remuneration Committee shall evaluate
remuneration for the Non-executive directors:
the balance of skills, knowledge and experience on the
Board and on the basis of such evaluation, prepare a (i) Experience;
description of the role and capabilities required of an (ii) Expertise; and
independent director. The person recommended to the
Board for appointment as an independent director shall (iii) Professional contribution.
have the capabilities identified in such description. For The Non-executive directors would be entitled to sitting
the purpose of identifying suitable candidates, the fees for attending each meeting(s) of the Board and
Committee may: Committees thereof as prescribed under the applicable
laws/regulation and as approved by the Board from
a. use the services of an external agencies, if required;
time to time. The Non-executive Directors would also
b. consider candidates from a wide range of be entitled to commission and other benefits as
backgrounds, having due regard to diversity; and prescribed under the applicable laws/regulation and as
approved by the Board and/or Shareholders, as the
c. consider the time commitments of the candidates. case may be;
148
14. Recommend to the board, all remuneration, in whatever Company's objectives. The Executive Directors of the
form, payable to senior management; Company are paid remuneration in accordance with
the requirements and within the limits specified under
15. Review and, where appropriate, recommend to the
the Act. The Nomination and Remuneration Committee
Board, the Company's incentive compensation and
recommends the remuneration for the Members of
equity based plans as and when required, establishing
the Board, which is then approved by the Board of
performance goals;
Directors. The stock options of the Parent Company i.e.
16. Oversee regulatory compliance with respect to Colgate-Palmolive Company, USA has been allotted to
compensation to the directors; Executive Directors. Refer Note no. 38 to the Financial
Statements, for more information on share-based
17. Making recommendations to the Board concerning any
compensation.
matters relating to the continuation in office of any
Director at any time including the suspension or Key Matrix for arriving at the Remuneration payable
termination of service of an Executive Director as an to the Executive Directors
employee of the Company subject to the provisions of
the law and their service contract; The total remuneration for the Executive Directors
consists of Fixed Pay, Short Term Incentives, Long Term
18. Identifying and recommending Directors who are to
Incentives and the Benefits Offerings.
be considered for retirement by rotation;
19. The Committee or any Member of the Committee may We take part in multiple external compensation and
at the discretion of the Chairperson of the Committee, benefits surveys to understand the relevant market
conduct an exit interview with Key Managerial Personnel data and ensure that our Fixed pay and benefits are
and Senior management on resignation/ termination of competitive with regards to the market.
service. The same would be subject to the Guidance The short-term and long-term incentives are governed
Note on the process as approved by the Committee; by the Global policies of Colgate-Palmolive.
20. To ensure that professional indemnity and liability
The short-term incentive payable to the Managing
insurance for Directors and senior management is
Director and Whole-time Directors is covered under the
availed off;
Company's annual bonus plan for senior executives
21. Perform other activities related to this Policy as called Executive Incentive Compensation Plan ('EICP').
requested by the Board of Directors or to address issues The EICP payout is based on achievement against
related to any significant subject within its terms of performance parameters including Organic Sales
reference; Growth ('OSG'), NPAT, Individual Performance and
Strategic KPIs, subject to change from time to time
22. Making available its terms of reference and review annually
based on Company priorities.
those terms of reference and its own effectiveness and
recommend any necessary changes to the Board; and The long term incentive plan for Executive Directors
23. Delegating any of its powers to one or more of its include Employee Stock Options ('ESOPs') and Restricted
Members or the Secretary of the Committee. Stock Units ('RSUs') of the Global parent Company,
typically vesting in 3 years time. The stock grant quantum
Remuneration of Directors are discretionary and vary every year.
The long term incentive plan of the Managing Director, in

a) Executive Directors
addition to the above, also includes the grants and are
The Nomination and Remuneration Policy of the also linked to multiple performance parameters including
Company is directed towards rewarding performance. It our Parent Company i.e. Colgate-Palmolive Company's
is aimed at attracting and retaining high potential talent. (US Company) performance, Cash flow productivity,
The Company has an incentive compensation plan Relative Organic Sales Growth, Relative Net Income
which is linked to performance and achievement of the growth, etc.
149
Details of remuneration paid/payable to the Executive Directors of the Company during the Financial Year ended March
31, 2024 are given below:
(H in Lakhs)
Name of MD/WTD(s)
Sr. Particulars of Total
Ms. Prabha Mr. M. S. Mr. Surender
No. Remuneration Amount
Narasimhan Jacob Sharma
1. Gross Salary
(a) Salary as per provisions contained
173.74 135.89 94.62 404.25
in section 17(1) of the Income-tax
Act, 1961
(b) Value of perquisites u/s 17(2) of
229.73 116.07 101.86 447.66
the Income-tax Act, 1961
(c) Profits in lieu of salary under
section 17(3) of the Income-tax – – – –
Act, 1961
2. Stock Option* 299.38 145.95 98.95 544.28
3. Sweat Equity – – – –
4. Commission
- As % of profit
- Others specify 193.33 78.33 67.64 339.30
Executive Incentive Compensation
Plan/Bonus
5. Others, please specify:
Employer contribution to Provident 20.84 16.30 11.35 48.49
Fund and other retirals
Total 917.02 492.54 374.42 1,783.98
The above remuneration is within the limits prescribed under Section 198 of the Companies Act, 2013.
*Includes exercise of stock options and of restricted stock awards in the current Financial Year, which were granted in prior years by Colgate-Palmolive
Company, USA, the Parent Company, pursuant to its incentive compensation plan.
Note:
i. The appointment of each of the Executive Directors is as per the employment agreement executed between the
Executive Directors and the Company. As per the said agreement, either party shall be entitled to terminate the
agreement at any time by giving three months' advance notice in writing to the other party without the necessity
of showing any cause, and in case of the Company, by payment of three months' salary as compensation in lieu of
such notice.
b) Non-executive & Independent Directors
The Company has no pecuniary relationship or transaction with any of its Non-executive & Independent Directors other
than payment of sitting fees to them for attending the meetings of the Board, the Committees, including meetings of
Independent Directors and payment of commission. The Board at its meeting held on May 26, 2022 and the
Shareholders at their meeting held on July 28, 2022, revised the amount of Commission payable to each Independent
Director of the Company from H 15 lakhs per annum to H 20 lakhs per annum with effect from April 1, 2022. The
commission of H 20 lakhs for the Financial Year 2023-24 will be paid on a pro-rata basis to all the Independent Directors
during the Financial Year 2024-25.
Details of the sitting fees and commission paid to the Non-Executive, Independent Directors in the Financial Year
2023-24 are as under: (H in lakhs)
Sr. Mr. V.S. Ms. I. Ms. S. Ms. S. Mr. S. Ms. G. Mr. I. Mr. S.
Particulars Total
No. Mehta Shahani Gopinath Kripalu Natarajan Pant Bhushan* Gupta**
a) Sitting Fees 12.50 13.50 10.50 12.00 11.50 12.00 6.50 2.00 80.50
b) Commission^ 20.00 20.00 20.00 20.00 20.00 20.00 - - 120.00
Total 32.50 33.50 30.50 32.00 31.50 32.00 6.50 2.00 200.50
^Paid for the Financial Year 2022-23 in the Financial Year 2023-24.
150
Succession Planning
The Company has an effective mechanism for succession is conducted from time to time for identifying the successors
planning which focuses on orderly succession of Directors, for the senior management as well as certain other key
including Executive Directors, Senior Management team positions.
and other key officials.
The Nomination and Remuneration Committee ('NRC') has Annual Performance Evaluation
developed the succession plan and the same is implemented
Pursuant to provisions of the Act and Regulation 17(10) of the
in concurrence with the Board. Regular updates are provided
SEBI Listing Regulations, the Board has carried out the annual
to the NRC and the Board on talent development and
evaluation of its own performance, as well as the performance
succession planning which covers plans for appointments to
of its Committees, its Members including Independent
the Board based on various factors such as current tenure of
Directors and the Chairperson.
Directors, outcome of performance evaluation, skill set,
experience, diversity as well as business requirements. The detailed description of the process, criteria and the
manner in which the evaluation was conducted by the
A thorough talent review based on drivers like the
Company for the Annual Performance Evaluation is given in
requirement of the role, talent as well as the business needs
the Directors' Report on Page No. 129.
General Body Meetings

a) A brief summary of the last three Annual General Meetings ('AGM') held and Special resolutions passed, if any, is
given below:
Location of No. of Special Resolution(s)

Financial Year Date Time(IST)
the Meeting passed at the AGM
2022-23 July 27, 2023 11:00 a.m 1
(Re-appointment of Ms. Sukanya Kripalu
(DIN: 06994202) as an Independent
Director of the Company)
2021-22 July 28, 2022 Held through 3.30 p.m. 1
Video- (Revision in payment of Commission to
Conferencing each Non-Executive, Independent
Directors of the Company, not exceeding
H 20 lakhs per annum)
2020-21 July 29, 2021 3.30 p.m. -
No Resolution through postal ballot was passed during the Financial Year 2022-23.
The following Special Resolutions were passed by way of Postal Ballot in the Financial Year 2023-24:
No. of No. of Date of

No. of Votes Details of the
Resolution Votes cast % Votes cast % Declaration
polled Scrutinizer
in favour against of Results
Appointment of Dr. 20,88,48,274 20,87,29,532 99.94 1,18,742 0.06 Mr. Nrupang B. September
(Mr.) Indu Bhushan Dholakia (FCS 7, 2023
(DIN : 09302960) 10032) and failing
as an Independent him Mr. Vishvesh
Director of the Bhagat, (ACS 7255)
Company. of M/s. Dholakia &
Associates LLP,
Company
Secretaries.
151
No. of No. of Date of

No. of Votes Details of the
Resolution Votes cast % Votes cast % Declaration
polled Scrutinizer
in favour against of Results
Appointment of 21,03,54,063 20,98,97,344 99.78 4,56,719 0.22 Mr. S. N. March 4,

Mr. Sanjay Gupta Ananthasubramanian, 2024
(DIN : 05100297) Practicing
as an Company Secretary
Independent (Membership No. FCS-
Director of the 4206) or failing him,
Company Mr. S. N. Viswanathan,
(Membership No.
ACS: 61955) of M/s. S.N.
Ananthasubramanian
& Co. Company
Secretaries
The voting for postal ballot process was conducted Annual Financial Results, Stock Exchange filings such as
through electronic means (remote e-voting) only in a Shareholding Pattern, Corporate Governance, Related
fair and transparent manner. Party Transactions and details of loss of share
certificate/ duplicate certificate, Schedule, Presentation
Procedure for postal ballot: and Transcript of Analyst Conference Call, Intimation of
The postal ballot procedure for the aforementioned events Closure of Trading Window, Media Releases, Intimations
was carried out as per the provisions of Sections 108 and under Regulation 30 of SEBI Listing Regulations,
110 and other applicable provisions of the Act, read with Intimation and Outcome of Board Meeting, etc,
the Rules framed thereunder and read with Circular No. applicable Corporate Governance policies such as
09/2023 dated September 25, 2023 issued by the Ministry Corporate Social Responsibility Policy, Human Rights
of Corporate Affairs and other relevant circulars in this Policy, Related Party Transactions Policy, Code of
regard issued by the Ministry of Corporate Affairs. Conduct for Prevention of Insider Trading, Dividend
Distribution Policy, Code of Conduct, Risk Management
Means of Communication Policy, Vigil Mechanism, Policy on Determination of
Materiality of Event or Information and Archival Policy,
a) Publication of quarterly results Nomination and Remuneration Policy etc and details
Quarterly, half-yearly and Annual Financial Results of the about the Company, the Board of Directors,
Company are published in widely circulated national Management and Company's Registrar & Share Transfer
newspapers such as the Financial Express and Loksatta Agent. To access the aforesaid details Members may
in vernacular language as required under Regulation 47 visit the website at www.colgatepalmolive.co.in
of the SEBI Listing Regulations. c) Filing with Stock Exchanges
The highlights of the aforesaid Financial Results are All periodical compliances required to be filed with the
sent to the Members whose email addresses are Stock Exchanges, such as the Corporate Governance
registered with the Company/Depositories once the Report, Shareholding Pattern, Investor Grievance Report,
said results are filed with the Stock Exchanges. Reconciliation of Share Capital and other corporate
announcements are filed electronically with the BSE
b) Website
Limited and National Stock Exchange of India Limited.
The Company's website contains a separate dedicated
section 'Investors' which provides comprehensive d) Presentation(s) to Analysts and Institutional Investors
information sought by Shareholders like copies of the All the presentations made to analysts and institutional
Annual Reports, ESG Reports, quarterly, half-yearly and investors are displayed on the Company's website at
https://www.colgatepalmolive.co.in/
152
GENERAL SHAREHOLDER INFORMATION:

a) 83rd Annual General Meeting
Day, Date and Time Tuesday, July 30, 2024 at 11 a.m. (IST)
Venue The Company is conducting the meeting through VC / OAVM pursuant to the MCA
Circulars and other applicable regulatory circulars and as such there is no
requirement to have a venue for the AGM.
Record Date Not Applicable
Date of Book Closure Wednesday, July 24, 2024 to Tuesday, July 30, 2024 (both days inclusive)
Financial Calendar The Company follows April - March as its Financial Year. The financial results for
every quarter beginning from April are declared within 45 days from the end of the
quarter except for the last quarter, for which the results are declared within
60 days from the end of the Financial Year i.e. on or before May 30 as permitted
under the SEBI Listing Regulations.
E-Voting period Friday, July 26, 2024 at 8:00 a.m. (IST) to Monday, July 29, 2024 at 5:00 p.m. (IST).
b) Financial year: April 1 to March 31
c) (i) Dividend Payment Dates
For the Financial Year 2023-24, the Company declared the dividends as detailed below:
Dividend for the FY 2023-24 Payment Date Dividend Per Share (J)
First Interim On and from November 21, 2023 22/-

Second Interim On and from June 07, 2024 26/-*
One-time Special Interim Dividend On and from June 07, 2024 10/-*
*approved at Board Meeting held on May 14, 2024.
(ii) Unclaimed Dividends and Shares
During the Financial Year 2023-24, H 2.09 crores of dividends being unpaid/unclaimed for seven years and
1,20,487 shares were transferred to the Investor Education and Protection Fund ('IEPF').
The following dividends are transferred/due for transfer to the IEPF in the Financial Year 2024-25,
Shareholders are requested to claim their unclaimed dividends, if any, pertaining to the below years:
Financial Year Dividend Transferred/Due for transfer
2016-17 3rd Interim April 26, 2024*

2017-18 1st Interim November 19, 2024
2017-18 2nd Interim January 14, 2025
*Transferred within statutory timelines.
Shareholders may write to the Company's Registrar and Share Transfer Agent M/s. Link Intime India Private
Limited on their dedicated email id rnt.helpdesk@linkintime.co.in to know the process of claiming their
unclaimed dividends from the IEPF or from the Company, as the case maybe.
153
d) Listing on Stock Exchanges
The Company's shares are listed on the following Stock Exchanges:
Name and address of the Stock Exchange Stock Code

BSE Limited
500830
Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400001
National Stock Exchange of India Limited Exchange
COLPAL
Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (East), Mumbai - 400051
The Company has paid the Annual Listing fees for the Financial Year 2023-24 to both the Stock Exchanges.
e) International Securities Identification Number (ISIN) - INE259A01022
f) Market Price Data
The monthly high and low quotations of the Company's shares traded on the BSE Limited and National Stock
Exchange of India Limited are as follows:
(Amount in H)
National Stock Exchange of India
BSE Limited
Month Limited
High Low High Low
April 2023 1,597.30 1,492.90 1,598.00 1,497.05
May 2023 1,713.00 1,562.40 1,714.45 1,560.00
June 2023 1,704.90 1,594.00 1,705.00 1,593.35
July 2023 2,061.55 1,673.75 2,062.10 1,660.00
August 2023 2,050.80 1,909.00 2,051.45 1,909.00
September 2023 2,096.25 1,915.00 2,096.00 1,914.00
October 2023 2,128.85 1,969.40 2,129.40 1,969.15
November 2023 2,221.00 2,085.00 2,222.00 2,084.60
December 2023 2,546.45 2,183.20 2,544.00 2,187.30
January 2024 2,579.85 2,380.05 2,580.90 2,378.90
February 2024 2,620.00 2,475.05 2,621.70 2,476.25
March 2024 2,760.95 2,507.10 2,759.50 2,505.00
Performance in comparison to BSE Sensex
COMPANY SHARE PRICE AND BSE - MONTHLY HIGH
80,000 4000
60,000 3000
Colgate Share Price
BSE Sensex
40,000 2000
20,000 1000
0 0
Apr 23 May 23 Jun 23 Jul 23 Aug 23 Sept 23 Oct 23 Nov 23 Dec 23 Jan 24 Feb 24 Mar 24
BSE Colgate Share Price
154
Performance in comparison to Nifty 200
COMPANY SHARE PRICE AND NIFTY 200 - MONTHLY HIGH
12,500 5000
10,000 4000
Colgate Share Price

NIFTY 200
7,500 3000
5,000 2000
2,500 1000
0 0
Apr May Jun Jul Aug Sept Oct Nov Dec Jan Feb Mar
23 23 23 23 23 23 23 23 23 24 24 24
Nifty 200 Colgate Share Price
g) Registrar and Share Transfer Agents
The Company's share transfer and other related transactions are operated through its Registrar and Share
Transfer Agent ('RTA') i.e. M/s. Link Intime India Private Limited having their Office at the following address:
M/s. Link Intime India Private Limited

C-101, 247 Park,
L.B.S Marg, Vikhroli (West) Mumbai- 400 083.
Tel : 8108116767
Fax : 0224918 6060
Toll-free number : 1800 1020 878
E-mail : rnt.helpdesk@linkintime.co.in
For any assistance regarding dematerialization of shares, share transfers, transmissions, change of address, non-receipt
of dividend or any other query relating to shares, please write to our RTA at the aforesaid registered address.
An exclusive e-mail id i.e. investors_grievance@colpal.com is available for redressal of investor complaints and the same
is available on the Company's website.
Shareholders holding physical shares may visit the website of our RTA to register/ update their email id at-
https://linkintime.co.in/emailreg/email_register.html
Shareholders holding shares in electronic/demat mode may register/update their email id and bank details with their
Depository Participant.
For the benefit of Shareholders, documents will also be accepted at the registered office of the Company during
working hours from Monday to Friday (9:00 a.m. IST to 5:00 p.m. IST), except public holidays:
Colgate-Palmolive (India) Limited
CIN: L24200MH1937PLC002700
Colgate Research Centre, Main Street,
Hiranandani Gardens, Powai, Mumbai - 400 076
Tel : 91-22-6709 5050
Website : www.colgatepalmolive.co.in
155
For the convenience of our investors, in addition to the above mentioned registered office address, our RTA will
accept the share transfer documents and other related documents at the following locations:
Location Address
Ahmedabad 5th Floor, 506 to 508, Amarnath Business Centre - 1
(ABC-1), Beside Gala Business Centre,
Nr. St. Xavier's College Corner, Off CG Road, , Ellisbridge, Ahmedabad - 380006.
Tel : 079-2646 5179
E-mail : ahmedabad@linkintime.co.in
Coimbatore Surya 35, Mayflower Avenue, Behind Senthil Nagar, Sowripalayam Road,
Coimbatore 641 028.
Tel : 0422-2314792 / 4958995/ 2539835/36
E-mail : coimbatore@linkintime.co.in
Kolkata Vaishno Chamber, 5th Floor, Flat Nos-502 & 503,
6, Brabourne Road, Kolkata - 700 001
Tel : 033-40049728/ 033-40731698
Telefax : 033-40731698
E-mail : kolkata@linkintime.co.in
New Delhi Noble Heights, 1st floor, Plot No NH-2, C-1 Block, LSC, Near Savitri Market, Janakpuri,
New Delhi - 110058
Tel : 011 - 49411000
Telefax : 011 - 4141 0591
E-mail : delhi@linkintime.co.in
Pune Block No. 202, 2nd Floor, Akshay Complex, Near Ganesh Temple,
Off: Dhole Patil Road, Pune - 411 001.
Tel : 020 - 4601 4473
Fax : 020 - 2616 3503
E-mail : pune@linkintime.co.in
Vadodara Geetakunj, 1, Bhakti Nagar Society, Behind ABS Tower, Old Padra Road,
Vadodara – 390015.
Tel : 0265 - 3566 768
E-mail : vadodara@linkintime.co.in
h) Share Transfer System
In terms of the SEBI Listing Regulations equity shares of the Company can only be transferred in dematerialized
form. Requests for dematerialization of shares are processed and confirmation thereof is given to the respective
depositories i.e. National Securities Depository Limited ('NSDL') and Central Depository Services (India) Limited
('CDSL'), within the statutory time limit from the date of receipt of share certificates/letter of confirmation after
due verification.
Requests for dematerialization of physical shares are processed and completed within the statutory timelines,
provided they are in order in every respect. Bad deliveries are immediately returned to Depository Participants
under advice to the Members.
Shares held in the dematerialized form are electronically traded through the Depositories. The Registrar & Share
Transfer Agent of the Company periodically receives updated beneficiary holdings from the Depositories so as to
enable them to update their records and send corporate communications, dividend warrants and other
documents to beneficiaries.
156
i) Shareholding Pattern (as at March 31, 2024)
Category of Shareholders Number of Shares % of Total Shares

Promoter and Promoter Group (A) 13,87,12,672 51.00
Public Shareholding
Mutual Funds/UTI 84,36,288 3.10
Alternate Investment Funds 1,82,850 0.07
Banks 15,408 0.01
Central Government/State Government 10,198 0.00
Insurance Companies 66,47,280 2.44
Provident Funds/Pension Funds 5,46,526 0.21
Sovereign Wealth Funds 7,63,804 0.28
NBFC registered with RBI 571 0.00
Foreign Banks 400 0.00
Foreign Institutional Investor 600 0.00
Foreign Portfolio Investor 6,66,55,514 24.51
Investor Education and Protection Fund (IEPF) 10,45,291 0.38
Individuals 4,44,46,575 16.34
Non-Resident Indians 17,49,471 0.64
Foreign Nationals 6,918 0.00
Bodies Corporate 13,78,922 0.51
Any Other (comprises following categories)
- Trust
- Hindu Undivided Family
- Clearing Member 13,86,346 0.51
- Limited Liability Partnership
Total Public Shareholding (B) 13,32,72,962 49.00
Total Shareholding (A+B) 27,19,85,634 100.00
157
Distribution of Shareholding (as at March 31, 2024)
Holders
Description No. of
% Shares %
Shareholders
1 - 500 2,19,230 91.73 1,28,43,349 4.72
501 - 1000 8,169 3.42 60,74,130 2.23
1001 - 2000 5,546 2.32 79,91,435 2.94
2001 - 3000 2,861 1.20 73,49,654 2.70
3001 - 4000 697 0.29 24,42,167 0.90
4001 - 5000 573 0.24 25,89,640 0.95
5001 - 10,000 1,120 0.47 71,28,627 2.62
10,001 & above 812 0.33 22,55,66,632 82.94
Total 2,39,008 100.00 27,19,85,634 100.00
j) Dematerialization of shares and liquidity (as at March 31, 2024)
Equity Shares of Re. 1/- each

Particulars of Equity Holding
Number % of Total
Dematerialized form:
-NSDL 25,77,74,085 94.77
-CDSL 1,19,28,756 4.39
Sub-total 26,97,02,841 99.16
Physical form 22,82,793 0.84
Total 27,19,85,634 100.00
The equity shares of the Company are permitted to be traded on Stock exchanges only in dematerialized form with
effect from April 5, 1999.
k) Outstanding GDRs/ADRs/Warrants or any convertible instruments

There are no outstanding GDRs/ADRs/Warrants or any convertible instruments as at March 31, 2024.
l) Commodity Price Risk or Foreign Exchange Risk & Hedging activities

Please refer Note No. 40 of the Notes to the Financial Statements.
m) Plant Locations : The Company has four plant locations, the details of which are as given below:
Location Address
Baddi, Himachal
Plot No 78, EPIP Phase 1, Jharmajri, Baddi, District Solan, [H.P.] 174 103
Pradesh
Kundaim, Goa Plot Nos. 154, 158 & 160, Kundaim Industrial Estate, Kundaim, Goa 403 115
Sanand, Gujarat Plot No SM-02, Sanand - II, GIDC Industrial Area, Near BOI, Village Sanand, Gujarat 382 170
Sri City, Andhra
6000 Central Expressway, Sricity, Satyavedu, Chittoor District, Andhra Pradesh 517 588.
Pradesh
158
Management Discussion and Analysis Report Trading Code of Conduct. The objective of the Policy is
to ensure the prohibition of insider trading practices in
The Management Discussion and Analysis Report is appended the Company. Mr. Surender Sharma, Whole-time Director
to this report, as Annexure CG-C - Legal & Company Secretary is the Compliance Officer
for the purpose of this Policy. This Policy has been placed
Disclosures: on the Company's website http://www.colgateinvestors.
co.in/policies
a) Dividend Distribution Policy
Pursuant to Regulation 43A of the SEBI Listing f) Code of Conduct
Regulations, the Company has formulated a Policy on The Company has adopted a Code of Conduct for
dividend distribution which is placed on the Company's its Directors, Senior Management and Employees.
website http://www.colgateinvestors.co.in/policies The Code of Conduct of the Company serves as a
guide for daily business interactions, reflecting the
b) Related Party Transactions Policy
Company's standards for appropriate behavior and
During the Financial Year, there were no materially its corporate values. The Code of Conduct has been
significant related party transactions that may have communicated to the Company's Directors, Senior
potential conflict with the interests of the Company at Management and Employees and each of them have
large. Refer to Note No. 37 to the Financial Statements affirmed compliance with the same. A certificate from
for disclosure of related parties. Ms. Prabha Narasimhan, Managing Director & Chief
Executive Officer, to this effect has been obtained and is
The Company has formulated a Policy on dealing with
annexed. The Code of Conduct has been placed on the
Related Party Transactions. This Policy is placed on the
Company's website http://www.colgateinvestors.co.in
Company's website http://www.colgateinvestors.co.in/
/policies
policies
g) Vigil Mechanism
c) Policy on determination of Materiality of event and
information The Company has an effective Vigil Mechanism system
which is embedded in its Code of Conduct. The Code of
In accordance with the requirements of the SEBI Listing
Conduct of the Company serves as a guide for daily
Regulations, the Company has formulated a Policy on
business interactions, reflecting the Company's standard
determination of materiality of event or information
for appropriate behavior and living Corporate Values.
which is placed on the Company's website http://www.
The Colgate-Palmolive Ethics Line phone number and
colgateinvestors.co.in/policies. This Policy prescribes
email address are available on the Company's website at
'Quantitative' and 'Qualitative' criteria for determining
http://www.colgateinvestors.co.in/policies to report any
the materiality of an event along with its disclosure
genuine concerns about unethical behavior, any actual
requirements.
or suspected conduct, fraud or violation of the law, or
activities in conflict with the Company's Code of
The Company has during the Financial Year 2023-24,
Conduct. Further it is affirmed that no personnel has
revised the 'Policy on determination of Materiality of
been denied access to the Audit Committee.
event and information' to bring it in line with the Securities
and Exchange Board of India (Listing Obligations h) Policy for determining 'material' subsidiaries
and Disclosure Requirements) (Second Amendment)
The Company does not have any material subsidiaries or
Regulations, 2023.
affiliates hence the Company does not have a Policy for
d) Records Management Policy determining 'material' subsidiaries.
The Company has framed a Policy for preservation of i) The Company has complied with the requirements of
documents. This Policy prescribes the nature of documents regulatory authorities on capital markets and no penalty/
and the period for which the same should be preserved. stricture was imposed on the Company during the last
three years.
The Archival Policy which forms part of the Records
Management Policy is placed on the Company's website j) During the Financial Year 2023-24, the Board of Directors
http://www.colgateinvestors.co.in/policies accepted all recommendations of the Committees of the
Board of Directors.
e) Code of Conduct for Prevention of Insider Trading
In line with the requirements of the Securities and k) The total fees for all services paid by the Company to the
Exchange Board of India (Prohibition of Insider Trading) Statutory Auditor and all entities in the Member firm
Regulations, 2015, the Company has adopted an Insider including network firm/network entity of which the
159
Statutory Auditor is a part for the Financial Year 2023- given loans and advances in the nature of loans to
24 is H 180.40 lakhs. firms/companies in which directors are interested.
l) Disclosure in relation to the Sexual Harassment of Women n) The Company does not have any subsidiaries and
at Workplace (Prevention, Prohibition and Redressal) Act, hence details of material subsidiaries of the listed
2013 for the Financial Year 2023-24 is as under: entity; including the date and place of incorporation
and the name and date of appointment of the
Sr. No. of statutory auditors of such subsidiaries is not applicable.
Particulars
No. Complaints
o) Independent Auditor's Report on Compliance with the
a. Number of complaints filed
1 conditions of Corporate Governance as per provisions
during the Financial Year
of Chapter IV of Securities and Exchange Board
b. Number of complaints disposed
1 of India (Listing Obligations and Disclosure
of during the Financial Year
Requirements) Regulations, 2015, as amended, is
c. Number of complaints pending annexed herewith as Annexure CG-B.
-
as on end of the Financial Year
p) No cyber security incidents or breaches or loss of data
or documents have taken place in the Company for the
m) The Company does not have subsidiaries and has not
Financial Year 2023-24.
DISCLOSURES WITH RESPECT TO UNCLAIMED SUSPENSE ACCOUNT

Disclosure with respect to shares held in the Unclaimed Suspense Account of the Company for the Financial Year 2023-24 is
as under:
Sr.
Particulars No. of Shareholders No of shares held
No.
a. Aggregate number of Shareholders and the 1,072 1,05,917

outstanding shares in the suspense account lying at
the beginning of the year
b. Number of Shareholders who approached listed 27 3,795

entity for transfer of shares from suspense account
during the year
c. Number of Shareholders to whom shares were 23 3,163

transferred from suspense account during the year
d. Transfer of shares from suspense account to IEPF 119 15,978

during the year
e. Aggregate number of Shareholders and the 930 86,776

outstanding shares in the suspense account lying at
the end of the year
The voting rights on these shares shall remain frozen till the rightful owner of such shares claims the shares.
160
COMPLIANCE WITH DISCRETIONARY CHIEF FINANCIAL OFFICER (CFO) AND CHIEF

REQUIREMENTS EXECUTIVE OFFICER (CEO) CERTIFICATION
The Company has complied with the mandatory requirements As required under Regulation 17(8) of the SEBI Listing
of the SEBI Listing Regulations. The Company has also Regulations, the CFO and CEO of the Company has certified
adopted the following discretionary requirements as provided the accuracy of the Financial Statements, the Cash Flow
in the SEBI Listing Regulations: Statement and adequacy of Internal Control Systems for
financial reporting for the Financial Year ended March 31, 2024.
1. The Chairperson of the Board is a Non-Executive Director
and his position is separate from that of the Managing Declaration
Director. The Company has made adequate disclosures as required
under Regulations 17 to 27 and Clause (b) to (i) of Sub-
2. The Internal auditors of the Company make quarterly
Regulation (2) of Regulation 46 of the SEBI Listing Regulations.
presentations to the Audit Committee on their reports.
3. The Financial Statements of the Company are with For Colgate-Palmolive (India) Limited
unmodified audit opinion.
Prabha Narasimhan M.S.Jacob
4. The highlights of the quarterly Financial Results are Managing Director Whole-time Director
circulated to all the Shareholders through email & Chief Executive Officer & Chief Financial Officer
whose email addresses are registered with the (DIN:08822860) (DIN: 07645510)
Company/Depositories.
Place: Mumbai
Date: May 14, 2024
Declaration
Based on the declarations received from all the Members of the Board of Directors and Senior Management team of the
Company, I hereby confirm that they are in compliance with the Company’s Code of Conduct for the financial year
ended March 31, 2024.
Prabha Narasimhan
Managing Director
Place: Mumbai & Chief Executive Officer
Date: May 14, 2024 (DIN:08822860)
161
Annexure CG-A
CERTIFICATE OF NON-DISQUALIFICATION OF DIRECTORS

[Pursuant to Regulation 34(3) and Schedule V Para C Clause (10) (i) of Securities and Exchange Board of India (Listing
Obligations and Disclosure Requirements) Regulations, 2015]
To, Schedule V Para C Clause 10(i) of SEBI (LODR) Regulations,

The Members of 2015. We have considered non-disqualification to include
Colgate-Palmolive (India) Limited non-debarment by Regulatory/ Statutory Authorities.
CIN: L24200MH1937PLC002700
It is the responsibility of Directors to submit relevant
Colgate Research Centre, Main Street,
documents with complete and accurate information in
Hiranandani Gardens Powai, accordance with the provisions of the Act.
Mumbai - 400076.
Ensuring the eligibility for the appointment / continuity of
We have examined the following documents: every Director on the Board is the responsibility of the
i) Declaration of non-disqualification as required under management of the Company. Our responsibility is to
Section 164 of Companies Act, 2013 ('the Act'); express an opinion on these based on our verification.
ii) Disclosure of concern or interests as required under Based on our examination as aforesaid and such other
Section 184 of the Act; verifications carried out by us as deemed necessary and
adequate (including Directors Identification Number (DIN)
(Hereinafter referred to as 'relevant documents')
status at the portal www.mca.gov.in), in our opinion and to
as submitted by the Directors of Colgate-Palmolive (India) the best of our information and knowledge and according
Limited ('the Company') having its registered office at to the explanations provided by the Company, its officers
Colgate Research Centre, Main Street, Hiranandani Gardens and authorized representatives, we hereby certify that none
Powai, Mumbai - 400 076, to the Board of Directors of the of the Directors on the Board of the Company, as listed
Company ('the Board') for the Financial Year 2023 - 2024 hereunder for the Financial Year ending 31st March, 2024
and Financial Year 2024 - 2025 and relevant registers, have been debarred or disqualified from being appointed
records, forms and returns maintained by the Company or continuing as Directors of Companies by the Securities
and as made available to us for the purpose of issuing this and Exchange Board of India/ Ministry of Corporate Affairs
Certificate in accordance with Regulation 34(3) read with or any such statutory authority.
Sr. Director Identification Date of

Name of Director Date of Cessation
No. Number (DIN) Appointment
1. Mr. Vikram S. Mehta 00041197 25/10/2001 NA
2. Dr. Indu R. Shahani 00112289 23/01/2012 NA
3. Ms. Shyamala Gopinath 02362921 19/05/2015 NA
4. Mr. Jacob Sebastian Madukkakuzy 07645510 28/10/2016 NA
5. Ms. Sukanya Kripalu 06994202 01/06/2018 NA
6. Mr. Mukul V Deoras 02869422 01/09/2018 NA
7. Mr. Sekhar Natarajan 01031445 21/05/2020 NA
8. Ms. Gopika Pant 00388675 21/05/2020 NA
9. Mr. Surender Sharma 02731373 21/05/2020 NA
10. Ms. Prabha Narasimhan 08822860 01/09/2022 NA
11. Dr. Indu Bhushan 09302960 26/07/2023 NA
12. Mr. Sanjay Gupta 05100297 22/01/2024 NA
162
This Certificate is neither an assurance as to the future viability of the Company nor of the efficiency or effectiveness with
which the management has conducted the affairs of the Company.
This Certificate has been issued at the request of the Company to make disclosure in its Corporate Governance Report of
the Financial Year ended 31st March, 2024.
For S. N. ANANTHASUBRAMANIAN & Co.

Company Secretaries
ICSI Unique Code P1991MH040400
Peer Review Cert. No.: 5218/2023
S. N. Ananthasubramanian
Founding Partner
FCS : 4206
COP No. : 1774
ICSI UDIN - F004206F000361961
14th May, 2024 | Thane
Annexure CG-B
INDEPENDENT AUDITOR'S REPORT ON COMPLIANCE WITH THE CONDITIONS OF CORPORATE
GOVERNANCE AS PER PROVISIONS OF CHAPTER IV OF SECURITIES AND EXCHANGE BOARD OF
INDIA (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015, AS AMENDED
The Members of 3. The Management along with the Board of Directors are
Colgate-Palmolive (India) Limited also responsible for ensuring that the Company
Colgate Research Centre, complies with the conditions of Corporate Governance
Main Street, Hiranandani Gardens, as stipulated in the Listing Regulations, issued by the
Powai, Mumbai - 400 076. Securities and Exchange Board of India.
1. The Corporate Governance Report prepared by Colgate- Auditor's Responsibility

Palmolive (India) Limited (hereinafter the 'Company'),
contains details as specified in regulations 17 to 27, 4. Pursuant to the requirements of the Listing Regulations,
clauses (b) to (i) and (t) of sub - regulation (2) of our responsibility is to provide a reasonable assurance in
regulation 46 and para C, D, and E of Schedule V of the the form of an opinion whether, the Company has
Securities and Exchange Board of India ('Listing complied with the conditions of Corporate Governance
Obligations and Disclosure Requirements') Regulations, as specified in the Listing Regulations.
2015, as amended ('the Listing Regulations') ('Applicable
5. We conducted our examination of the Corporate
criteria') for the year ended March 31, 2024 as required
Governance Report in accordance with the Guidance
by the Company for annual submission to the Stock
Note on Reports or Certificates for Special Purposes and
exchanges.
the Guidance Note on Certification of Corporate
Governance, both issued by the Institute of Chartered
Management's Responsibility
Accountants of India ('ICAI'). The Guidance Note on
2. The preparation of the Corporate Governance Report is Reports or Certificates for Special Purposes requires that
the responsibility of the Management of the Company we comply with the ethical requirements of the Code of
including the preparation and maintenance of all Ethics issued by ICAI.
relevant supporting records and documents. This
6. We have complied with the relevant applicable
responsibility also includes the design, implementation
requirements of the Standard on Quality Control ('SQC')
and maintenance of internal control relevant to the
1, Quality Control for Firms that Perform Audits and
preparation and presentation of the Corporate
Reviews of Historical Financial Information, and Other
Governance Report.
Assurance and Related Services Engagements.
163
7. The procedures selected depend on the auditor's 8. The above-mentioned procedures include examining
judgement, including the assessment of the risks evidence supporting the particulars in the Corporate
associated in compliance of the Corporate Governance Governance Report on a test basis. Further, our scope of
Report with the applicable criteria. Summary of work under this report did not involve us performing
procedures performed include: audit tests for the purposes of expressing an opinion on
the fairness or accuracy of any of the financial
i. Read and understood the information prepared by information or the financial statements of the Company
the Company and included in its Corporate taken as a whole.
Governance Report;
ii. Obtained and verified that the composition of the Opinion

Board of Directors with respect to executive and
9. Based on the procedures performed by us, as referred in
non-executive directors has been met throughout
paragraph 7 above, and according to the information and
the reporting period;
explanations given to us, we are of the opinion that the
iii. Obtained and read the Register of Directors as on Company has complied with the conditions of Corporate
March 31, 2024 and verified that atleast one Governance as specified in the Listing Regulations, as
independent woman director was on the Board of applicable for the year ended March 31, 2024, referred to
Directors throughout the year; in paragraph 4 above.
iv. Obtained and read the minutes of the following Other matters and Restriction on Use
committee meetings / other meetings held during
April 01, 2023 to March 31, 2024: 10. This report is neither an assurance as to the future viability
of the Company nor the efficiency or effectiveness with
(a) Board of Directors; which the management has conducted the affairs of the
Company.
(b) Audit Committee;
11. This report is addressed to and provided to the Members
(c) Annual General Meeting ('AGM');
of the Company solely for the purpose of enabling it to
(d) Nomination and Remuneration Committee; comply with its obligations under the Listing Regulations
with reference to compliance with the relevant regulations
(e) Stakeholders Relationship Committee; of Corporate Governance and should not be used by any
other person or for any other purpose. Accordingly, we do
(f) Corporate Social Responsibility Committee; not accept or assume any liability or any duty of care or
for any other purpose or to any other party to whom it is
(g) Risk Management Committee
shown or into whose hands it may come without our
v. Obtained necessary declarations from the directors prior consent in writing. We have no responsibility to
of the Company. update this report for events and circumstances occurring
after the date of this report.
vi. Obtained and read the policy adopted by the
Company for related party transactions.
For S R B C & CO LLP
vii. Obtained the schedule of related party transactions Chartered Accountants
during the year and balances at the year- end. ICAI Firm Registration Number: 324982E/E300003]
Obtained and read the minutes of the audit
committee meeting where in such related party per Pritesh Maheshwari
transactions have been pre-approved prior by the Partner
audit committee. Membership Number: 118746
UDIN: 24118746BKFZUF5245
viii. Performed necessary inquiries with the management
and also obtained necessary specific representations Place of Signature: Mumbai
from management. Date: May 14, 2024
164
Annexure CG-C
Management Discussion and Analysis

INDIAN ECONOMY Towards this, it has launched the National Oral Health
Programme to address India's varied oral health challenges.
The World Bank forecasts India's output growth to reach 7.5
The program aims to enhance oral health determinants,
percent1 in FY24, driven by resilient activity in services and
diminish morbidity rates related to oral diseases, and
industry. Over the medium term, the fiscal deficit and
seamlessly integrate oral health promotion into the existing
government debt in India are projected to decline, supported
healthcare framework. Moreover, it encourages the adoption
by robust output growth and consolidation efforts by the
of Public-Private Partnerships ('PPPs') to bolster oral health
Central Government. The high visibility of structural demand
outcomes4.
and healthier corporate and bank balance sheets will likely
be the galvanizing forces for growth going forward. This To accomplish these goals, the Central Government has
performance is especially commendable against the provided assistance to State Governments in delivering
backdrop of geopolitical tensions, unsettled financial dental care alongside other existing health programs at
conditions, and stubborn inflation which is plaguing the different levels of the primary healthcare system.
major economies2.
COMPANY OVERVIEW
INDUSTRY OVERVIEW
Colgate-Palmolive (India) Limited is a caring, innovative
The toothpaste category in India is valued at H 18,000 Crores growth Company that is reimagining a healthier future for all
and observed a value growth of CAGR 5.3% in the last 5 years. people and the planet. The Company has steadfastly nurtured
The oral care market in India is a large and rapidly growing the culture of Oral Care in India for decades, which has made
market, driven by factors such as increasing awareness of oral it India's most preferred Oral Care brand and India's most
hygiene, rising disposable incomes, and the growing penetrated FMCG brand, reaching nine out of ten households.
prevalence of dental diseases.
The product line of the Company comprises an Oral Care range
Per capita usage of toothpaste remains low in India and of toothpastes, toothbrushes, mouth washes, and personal
driving this represents an opportunity for category growth. A care products such as hand washes and shower gels. The
more detailed analysis reveals that approximately only 20% of Company's products reach over 1.7 million stores, 89% of which
Urban consumers brush the recommended, twice a day and are active every quarter.
around 55% of rural households do not brush daily.
With a firm commitment to science-driven innovation across
The industry is also expanding as a result of increased its spectrum, the Company boasts a diverse team of experts
premiumization, customer demand for more tailored solutions, encompassing scientists, engineers, innovators, technologists,
and a growing number of active practicing dentists. India adds regulatory specialists, and data scientists. The Company
about 25,000 qualified dentists annually3. recognizes India as a key part of its global Research and
Development ('R&D') agenda. With over 86 years of presence
In cities, there is a demand for innovative products like
in India, the Company has established a state-of-the-art
therapeutic toothpaste and oral beauty solutions. Plus, there is a
research center in Mumbai, which is one of its largest R&D
big opportunity to introduce more people to adjuncts like floss
facilities globally.
and mouthwash.
The Company has a rich experience in the Oral Care & Personal
Colgate-Palmolive (India) Limited is on a mission to boost
Care enabling the Company to develop some of the most
oral health across the nation. Outside of Oral Care, the
effective and innovative products for the Indian market.
Company sees opportunity in Personal Care products.
Some of the recent product relaunches include, Colgate
GOVERNMENT INITIATIVES Strong Teeth toothpaste with Arginine, Colgate MaxFresh
toothpaste with Ultrafreeze technology, Colgate Active Salt
The Government of India endeavors to achieve widespread
3
access to quality oral healthcare services for its populace. https://maids.delhi.gov.in/maids/future-prospects
4
1
https://www.livemint.com/economy/world-bank-projects-indian- https://www.nhm.gov.in/index1.php?lang=1&level=2&sublinkid=1044&li
economy-to-grow-at-7-5-in-2024-11712110757361.html d=608
2
https://rbidocs.rbi.org.in/rdocs/Bulletin/PDFs/01AR19032024876A87F47E
424F8787B2C285EA278062.PDF
165
toothpaste with superior efficacy, Colgate Zig Zag toothbrush The Company has implemented a comprehensive risk
with superior aesthetics & packaging, Colgate Super Junior management system that protects its stakeholders' interests
Toothbrush, and Palmolive's 3 new variants (Forever Happy, by detecting, scrutinizing and managing significant business
Sweet Delight, Alluring Love). risks. This entails various strategies such as risk identification
surveys, environmental business analysis, and gathering
The detailed update on product introductions is provided in feedback from internal and external stakeholders.
the Director's Report on Page No 124.
The Company has formulated an Enterprise Risk Management
The Company is committed to ethical business practices Committee and the Members meet periodically to efficiently
and expects steady growth. The long-standing relationships identify upcoming risks and work on the mitigation plans. The
with vendors, strong partnerships with major modern trade risks are rated to various parameters, such as probability of
customers and e-commerce platforms, sets the Company occurrence, severity of impact and Company's preparedness
well to take advantage of the growing opportunities in these to mitigate such risks. The identified risks are placed on a
channels. matrix to depict the potential staging and monitoring of the
same. The assessment considers both short and long-term
BUSINESS OVERVIEW risks, including how these risks are changing, together with
emerging risk areas. These are assessed on an ongoing basis
Digital Transformation and officially at least once a year by the Risk Management
Committee and the Board.
The Company is advancing its digital transformation to
improve both operations and customer experience. By Opportunities
streamlining supply chain and manufacturing operations, and
enhancing marketing efforts, it has achieved significant Colgate-Palmolive boasts a comprehensive portfolio of Oral
improvements. Through digitalization, it gains better control Care products in India - from toothpastes for varied benefits
and visibility over inventory and logistics. Additionally, Artificial and toothbrushes (basic, premium and electric) to a range of
Intelligence ('AI') and Machine Learning ('ML') technologies mouthwashes. Coupled with its current reach, this portfolio
help forecast demand and streamline production, leading to gives the Company a unique opportunity to drive
heightened efficiency and cost savings. Utilizing digital premiumization.
marketing and social media, the Company has expanded
The equity of the Palmolive brand is under-served at the
consumer reach and brand awareness. Tailored promotional
moment and there is clearly an opportunity to build a robust
campaigns, driven by data analytics, provide insights into
Personal Care business, as the brand has a 60-65% awareness
consumer behavior and preferences, aiding in future growth.
level, which is difficult to build in a fragmented market.
Continuing with our endeavor of driving best in class
The detailed explanation and outcomes of each of these risks
execution, we rely on ML that helps us create a bespoke
and opportunities are given in the Business Responsibility and
assortment for our 1.7 mn outlets. The accuracy of this
Sustainability Report, forming part of the Board's Report.
assortment ensures we assist the sales representative to sell
the right Stock Keeping Unit ('SKU') in the right store to suit
shopper needs. A similar philosophy is deployed in Modern Material Developments in Human Resources
Trade outlets where we have deployed Image Recognition
The Company has always had a focus on introducing new
('IR') technology. Our flagship IR tool - AmaZing, backed by AI
benefits & policies that would help a culture of diversity,
allows our in store executives to get the shelf layout right every
equity and inclusion to thrive while ensuring the well-being of
time. This supported with the right shopper communication
the employees.
continuously helps consumers choose products best suited for
their needs. Employee Well-being
Risk Management The Company is committed to supporting the physical as well

as mental well-being of its human capital. It has prioritized
Managing risks is integral to Colgate-Palmolive (India)
providing healthcare benefits to its workforce, which
Limited's long-term goals and strategies. The Company's
encompasses medical, dental, and vision coverage, in
success lies in its ability to identify the opportunities addition to wellness programmes and mental health support.
generated by the business and the markets it operates in. This year, the company introduced a new OPD policy in
Thus, while the primary objective of the Company's Risk addition to its existing medical insurance cover. The company
Management Framework is to guarantee timely and also has a holistic support available for employees mental
effective identification and mitigation of potential risks, it well-being that includes unlimited EAP coverage as well as an
also plays a key role in adapting a risk-conscious business AI based mental well-being app.
strategy that can tap into new opportunities.
166
The Company also supports healthy work-life balance for objectives, it has established clear and quantifiable ESG goals
employees through various policies like: for 2025, which are governed by strong practices.
Inclusive Leave Policy: An exhaustive leave policy that The Company continues to align its business practices with
provides employees with various types of leaves like Annual sustainable principles, focusing on - Environmental Stewardship,
leave, Care & Compassion leave (to take care of sudden illness Social Impact, and Governance Excellence.
for self, family, pets, etc), give back leave (paid holiday to
support employees in volunteering) and a gender neutral The Company is working towards reducing energy usage and
parental leave policy. increasing the use of renewable energy. It has employed the
Internet of Things to transition from preventive to predictive
Hybrid Work Policy: The Company has a hybrid work policy maintenance, in addition to reducing waste and protecting
known as 'BlendIn', that allows employees to choose two days the environment. By embracing circular principles, Colgate-
in a week to work from home, while requiring them to work Palmolive is committed to minimizing its environmental
from the office for three days, with flexible working hours. footprint and the usage of patented, first-ever recyclable
toothpaste tubes, developed by Colgate-Palmolive Company,
DE&I US are a great example of a step towards circularity.
The Company recognises the value of a diverse workforce Colgate-Palmolive (India) Limited also prioritizes community
and offers equal opportunities for all employees regardless of engagement and social responsibility, and actively engages in
their race, ethnicity, genders, sexual orientation, or any other initiatives around supporting oral healthcare awareness,
characteristic.
women empowerment, water augmentation and waste
The Company's DEI initiatives include training and education management in marginalized communities.
programmes for employees, creating an inclusive culture and
As part of its efforts to inspire trust and transparency, this
implementing policies that ensure fairness and equality for all.
is the third year of publishing its BRSR disclosures and
The Company regularly monitors and evaluates its progress
Environmental, Social and Governance ('ESG') Report.
towards its endeavor to create a more inclusive culture and
takes action to address any issues that might arise.
KEY FINANCIAL RATIOS
Workplace Inclusivity Policies (WIN Policies)
Details of changes in key financial ratios as compared to
New & Expectant Parents: The policy offers equal immediate previous financial year.
opportunities for parental leave to all employees regardless of
their gender or sexual orientation. In addition, the policy offers Particulars FY 2023-24 FY 2022-23
greater flexibility and support to new and expectant parents,
Debtors Turnover 34.76 27.16
including extended remote working options and financial
Inventory Turnover 5.45 5.18
assistance in the form of childcare allowance and creche
reimbursements. The Company has also collaborated with Interest Coverage Ratio^ 346.85 281.82
creche providers to provide additional support to parents. Current Ratio 1.54 1.43
Debt Equity Ratio* 0.04 0.04
Persons With Disabilities: The Company introduced a new Return on Capital Employed 99% 84%
policy this year to help in the inclusion of employees with Operating Profit Margin (%) 31% 26%
disabilities. As a part of this policy, the company provides
Net Profit Margin (%) 23% 20%
Assistive Technology reimbursement to support productivity
(after tax)
of employees with permanent disabilities, through purchase
and maintenance of essential assistive products based on Înterest expenses appearing in the Financial Statements for the current year
specialist doctor's prescription. relate to the lease liability as per Ind AS 116.
*Debt mainly pertains to lease liabilities as per Ind AS 116 which are on
The total number of employees as on March 31, 2024 were reducing balance.
2221. Increase in receivables driven out of increase in sales and change in channel
mix to new retail channels.
Sustainability
A comprehensive analysis of the Company's financial
The Company places a significant emphasis on sustainability performance, including operational performance, adequacy
as a core focus area, and it strives to minimize its ecological of internal control systems, product-wise performance, and
footprint by implementing initiatives that reduce waste, the use of innovation & technology, is included in the Board's
conserve water, and optimize energy usage. To meet these Report.
167
INTERNAL CONTROL SYSTEMS OUR APPROACH

Internal Control Systems are essential for promoting best The investments necessary to support growth are cultivated
practices and enhancing governance standards within an through continuous, company-wide initiatives aimed at
organization. The Company employs a skilled team of enhancing realizations, reducing costs, and optimizing asset
internal auditors who monitor internal financial processes utilization. These initiatives, known as the Company's revenue
and policies, providing recommendations for effective growth management and growth funding endeavors, are
financial controls. Implementing these robust internal geared towards strengthening operational efficiency. These
financial controls ensures adherence to the Company's initiatives also focus on cost reduction in areas such as direct
policies and procedures, thereby facilitating smooth and materials, indirect expenses, distribution and logistics,
efficient operations. advertising, and promotions. They encompass a wide range of
projects, including raw material substitution, formulation
These internal financial controls are vital for safeguarding simplification, reduced packaging, supplier consolidation to
assets, detecting and preventing fraud or errors, and leverage volume, and increase manufacturing efficiency
ensuring the accuracy and completeness of accounting and through SKU optimization.
financial records. Additionally, they support the timely
The macroeconomic conditions are expected to remain
preparation of transparent, comprehensive, and accurate
volatile in the near future given tremendous uncertainty in
financial information and statements, in accordance with
the global economic outlook. However, the Company
prescribed accounting standards and principles.
believes it is well-prepared to face challenges due to its strong
To maintain the ongoing relevance and adequacy of the financial condition, experience in operating under difficult
internal financial control system, the Company's Audit circumstances, and ongoing focus on key priorities.
Committee conducts periodic assessments and evaluations The priorities include increasing sales through improved
to scrutinize its effectiveness. consumer engagement, delivering world-class innovation,
leveraging digitization, collaborating with distributors and
retail partners. The Company aims to drive efficiency across
all aspects of its income statement to boost margins. It also
strives to generate strong cash flow performance and utilize
that cash effectively to enhance Shareholder returns. Lastly,
the Company aims to win by staying true to its organizational
culture and prioritizing its stakeholders.
168
Annexure 2
Annual CSR Report

1. Brief outline on CSR Policy of the Company
Founded in 1937, Colgate-Palmolive (India) Limited ('Colgate-Palmolive') has always focused on 'Building a future to
Smile about'. Colgate-Palmolive continues to make progress towards this long-standing commitment, through various
programs and partnerships that bring its brands and values to life, across the nation.
Guided by our 2025 Sustainability and Social Impact Strategy, our CSR initiatives are helping children, their families, and
the community to thrive, in line with national requirements and United Nations Sustainable Development Goals
(UNSDGs). With a dedicated ESG and CSR Committee (ECC) steering our efforts, we prioritise meaningful impact areas,
evaluate programs rigorously, and craft annual action plans aimed at fostering long-term community well-being.
Colgate-Palmolive is committed to building lasting relationships with local stakeholders, and is constantly leveraging its
expertise and innovation-centric approach to empower underserved communities.
An overview of the Company's CSR programs/projects are available on the Company's website at http://www.
colgateinvestors.co.in/policies and appended hereto.
2. Composition of CSR Committee:

Number of CSR Number of CSR
Sr. Designation / Nature
Name of Director Committee Meetings Committee Meetings
No. of Directorship
held during the year attended during the year
1. Dr. (Ms.) Indu Shahani Chairperson- 4 4
2. Mr. Sekhar Natarajan Member- 4 4
3. Ms. Gopika Pant Member- 4 4
4. Ms. Prabha Narasimhan Member- 4 4
Executive Director
3. Provide the web-link(s) where Composition of CSR Committee, CSR Policy and CSR Projects approved by the board are
disclosed on the website of the Company. - https://www.colgateinvestors.co.in/pdf/csr-policy.pdf
4. Provide the executive summary along with web-link(s) of Impact Assessment of CSR Projects carried out in pursuance
of sub-rule (3) of rule 8, if applicable. - https://www.colgateinvestors.co.in/shareholder-information/social-impact-
assessment-reports
5. (a) Average net profit of the Company as per sub-section (5) of section 135 - H 1,393.41 Crores.
(b) Two percent of average net profit of the Company as per sub-section (5) of section 135 - H 27.87 Crores.
(c) Surplus arising out of the CSR Projects or programmes or activities of the previous Financial Years - N.A.
(d) Amount required to be set-off for the Financial Year, if any - N.A.
(e) Total CSR obligation for the Financial Year (b)+(c)-(d) - H 27.87 Crores.
169
6. (a) Amount spent on CSR Projects (both Ongoing Project and other than Ongoing Project) - H 29.31 Crores.
(b) Amount spent in Administrative Overheads - H 0.92 Crores.
(c) Amount spent on Impact Assessment, if applicable - H 0.36 Crores.
(d) Total amount spent for the Financial Year (a)+(b)+(c) - H 30.60 Crores*.
(e) CSR amount spent or unspent for the Financial Year: Unspent - 2.80 Crores.
* This includes an unspent balance of H 5.53 Crores from previous financial year 2022-23.
Amount Unspent
Total Amount transferred to Amount transferred to any fund specified under
Total Amount Spent
Unspent CSR Account as per sub - Schedule VII as per second proviso to sub -
for the Financial Year.
section (6) of section 135. section (5) of section 135.
(in J Crores)
Amount Name of the Amount
Date of transfer
(in J Crores) Fund (in J Crores)
30.60* 2.80 12.04.2024 – – –
* This includes an unspent balance of H 5.53 Crores from previous financial year 2022-23.
(f) Excess amount for set-off, if any:
Sr.
Particulars Amount (in J Crores)
No.
(i) Unspent Amount from Financial Year 2022-23 5.53
(ii) Two percent of average net profit of the company as per sub-section (5) of 27.87
section 135
(iii) Amount available for spending in the Financial Year 2023-24 33.40
(iv) Total amount spent for the Financial Year 30.60
(v) Excess amount spent for the Financial Year N.A.
(vi) Surplus arising out of the CSR projects or programmes or activities of the N.A.
previous Financial Years, if any
(vii) Amount available for set off in succeeding Financial Years [(v-vi)] N.A.
7. Details of Unspent Corporate Social Responsibility amount for the preceding three Financial Years:
1 2 3 4 5 6 7 8
Amount transferred
Amount Amount
Balance Amount to a Fund as specified
transferred to remaining to
Preceding in Unspent CSR Amount under Schedule VII as
Sl. Unspent CSR be spent in
Financial Account under Spent in the per second proviso to Deficiency
No. Account under succeeding
Year(s) sub- section (6) Financial sub- section (5) of if any
sub- section (6) Financial
of section 135 Year section 135, if any
of section 135 Years
(in J) (in JCrores) Amount Date of
(in J Crores) (in J Crores)
(in J Crores) Transfer
1. FY 2022-23 5.53 - 5.53 5.53 26.04.2023 - -
8. Whether any capital assets have been created or acquired through Corporate Social Responsibility amount spent in the
Financial Year -
If Yes, enter the number of Capital assets created/ acquired.
170
As a part of Colgate-Palmolive's social impact program on Water Augmentation for Livelihoods and Women
Empowerment, we repaired multiple Anicuts, Water Stations, Wells, to provide for water for agriculture and other needs,
as well as constructed water tanks for providing access to safe drinking water for people in the communities, All the
assets are used to support the communities and the ownership lies with the beneficiaries.
Furnish the details relating to such asset(s) so created or acquired through Corporate Social Responsibility amount
spent in the Financial Year
Short particulars Amount

Sr. of the property or of CSR
asset(s)[including Pincode of the Date of amount Details of entity/ Authority/
No.
complete address property or asset(s)* creation spent Beneficiary of the registered owner
and location of the (In J
property] Crores)
(6)
CSR
(1) (2) (3) (4) (5) Registration Registered
Name
Number, if Address
applicable
1. Water Augmentation 313031 N.A. 0.78 CSR00000288 Seva Old
for livelihoods and Mandir Fatehpura,
Women Udaipur,
Empowerment Rajasthan,
Alsigarh Village, India
Udaipur, Rajasthan 313004
Please refer to
point from 8 for
explanation
on Assets
Total 0.78
*There are multiple PIN Codes as work was carried out in multiple villages in Udaipur, Rajasthan.
Note: Please refer to point from 8 for explanation on Assets
9. Specify the reason(s), if the Company has failed to spend two per cent of the average net profit as per sub- section (5)
of section 135.
Colgate's In-school flagship program, Bright Smiles, Bright Futures® was implemented in 8 states in FY 2023-24,
engaging with over 52,00,000 children across 10,000+ schools. Some challenges like closure of schools for prolonged
periods during severe winters in the northern region and election protocols in some regions hindered our ability to
reach all targeted schools. These unforeseen circumstances led to a deviation from our intended coverage goals. As a
result an amount of H 2.80 Crores remained unspent within our allocated budget for the year. To comply with regulatory
requirements and ensure responsible financial management, this unspent amount has been appropriately transferred
to the 'Colgate-Palmolive (India) Limited - Corporate Social Responsibility Unspent Account (BSBF) - 2023-24'.
For Colgate -Palmolive (India) Limited
Indu.Shahani Prabha Narasimhan

Chairperson of ESG & Managing Director &
Place: Mumbai CSR Committee Chief Executive Officer
Date : May 14, 2024 (DIN: 00112289) (DIN: 08822860)
171
DETAILS OF PROGRAMME across India, imparting crucial oral care habits, fostering
awareness about tobacco prevention, and highlighting
HELPING CHILDREN, YOUNG PEOPLE AND the vital role of good nutrition in maintaining optimal oral
COMMUNITIES THRIVE health.
Our CSR initiatives are actively contributing to community From its humble beginnings, BSBF has evolved into a
development projects. From raising awareness about oral comprehensive educational platform dedicated to
healthcare to empowering women with financial and digital promoting oral health and hygiene among children. The
literacy in rural and tribal areas and expanding water access program's multifaceted approach engages children aged
and augmentation programs in water-stressed villages, we're 6-15 years in government schools across rural and urban
making a difference in matters that matter. As part of our areas. By leveraging specially curated educational
commitment to creating a brighter, more prosperous future materials, interactive sessions, captivating animations,
for all, we organise our CSR initiatives under these thematic catchy jingles, quizzes, and engaging competitions, BSBF
areas and run multiple programs under each of them. transforms learning into a fun and memorable experience
for young minds.
Thematic Area : Championing Healthy Smiles:
Oral Health Education Some of the additional achievements have also been our
statewide partnership announcements with Andhra
Colgate-Palmolive (India) Limited, for over 86 years has been Pradesh and Uttar Pradesh Governments. Additionally
dedicated to improving oral hygiene and promoting healthier ImPAct4Nutrition, a renowned knowledge and resource
smiles among the Indian population. We understand the vital platform incubated by UNICEF India, has also come
role that oral health plays in overall well-being, and our forward to collaborate in our program as knowledge
mission has been to make oral care accessible, effective and partner for nutrition on oral health. The joint effort aims to
affordable for every individual across the country. Over the reach an additional 10 million children by 2025, thereby
years, we have diligently worked towards achieving our goals fostering better oral health practices nationwide.
by employing various initiatives and programs that focus on Furthermore, this collaboration aligns with broader global
education, innovation and community outreach. Our efforts health agendas, including Sustainable Development Goals
have been guided by a deep understanding of the specific (SDGs), particularly those related to health and well-being.
oral care needs of the diverse Indian population. As a
responsible corporate citizen, we endeavour to create a The emphasis on proper oral care habits encompasses a
meaningful impact on the millions of lives we touch. range of essential practices such as regular brushing,
flossing, and visiting the dentist for check-ups. Children
1. Colgate Bright Smiles, Bright Futures® Program with learn about the importance of brushing techniques, and
Bharat Cares the adverse effects of neglecting oral hygiene. These
Need: In India, oral health issues are prevalent, with a insights empower children to become proactive
large percentage of the population suffering from dental advocates for their oral health, influencing positive
cavities and gum diseases. Despite this, there's a lack of behaviours within their families and communities.
awareness about oral hygiene practices. Studies show
Tobacco prevention awareness is another critical
that a significant portion of children, adolescents and
component of the program, educating children about the
adults have poor oral hygiene. To address this, targeted
harmful effects of tobacco use on oral health and overall
oral health education programs are essential. These
well-being. Through interactive sessions and informative
initiatives can promote proper oral hygiene habits, materials, children gain a deeper understanding of the
encourage regular dental check-ups, and raise awareness risks associated with tobacco consumption, empowering
about the link between oral health and overall well-being. them to make informed choices and resist peer pressure
By implementing programs like Bright Smiles, Bright towards unhealthy habits.
Futures® (BSBF), we can significantly reduce the burden
of dental diseases and improve the quality of life for Additionally, the program underscores the vital link
millions in India. between nutrition and oral health. Children learn about
the impact of balanced diets, adequate hydration, and
About the Program: Colgate's commitment to illuminating healthy eating habits on their teeth, gums, and overall
a billion smiles radiates through its flagship program, physical health. By promoting nutritious food choices
Bright Smiles, Bright Futures® (BSBF), a transformative and hydration practices, the program equips children
initiative that has been making a positive impact since its with the knowledge to support their oral health goals
inception in 1976. So far, through BSBF, Colgate has and lead healthier lifestyles.
reached and enriched the lives of over 176 million children
172
IMPACT on our efforts towards protecting the environment,

improving and enhancing the quality of life of individuals
Cumulative - 176 Million Children positively impacted
and the communities we serve and help building
since 1976.
sustainable habits.
FY 2023-24: We ran the program in the states of Andhra
Pradesh, Uttar Pradesh, Gujarat, Maharashtra, Tamil Nadu, 1. Water Augmentation for Livelihood & Women
Karnataka, Punjab and Rajasthan, covering over Empowerment Program with Seva Mandir :
52,00,000 children across 150 locations in 10000+ schools.
Need: In the financial year 2017-18, Colgate embarked
2. Program on Cleft Surgeries with Mission Smile on a transformative journey by partnering with Seva
Mandir to conduct a comprehensive feasibility study in
Need: In November 2021, Colgate proudly launched a
Udaipur, Rajasthan. The primary objective was to assess
pioneering Social Impact Program in partnership with
the socio-economic needs of nine tribal villages, with a
the NGO Mission Smile, focusing on cleft surgeries and
particular emphasis on understanding the challenges
comprehensive care for children hailing from low-
faced by women in these communities. The findings
income families. This visionary initiative addresses a
from this assessment revealed a myriad of critical issues
critical concern in India, where approximately 35,000
that were impacting the communities' overall well-
children are born with cleft lip and palate conditions
being and prosperity.
annually. Unfortunately, due to limited resources for
treatment, these children often endure significant About the Program: Through the invaluable insights we
challenges such as malnutrition, speech impediments, derived from the need assessment, Colgate laid the
social stigmatisation, and missed opportunities in life. foundation for a transformative program that aimed not
About the Program: At the heart of our efforts lies our just to alleviate immediate challenges but also to create
enduring Keep India Smiling Mission, which drives us to sustainable pathways for long-term socio-economic
create positive changes in the lives of these vulnerable empowerment within these communities. The program's
children and their families. The program embodies a holistic approach encompassed various dimensions,
holistic care model encompassing various essential including the formation and strengthening of women
elements, including the mobilisation of children and self-help groups (SHGs), capacity-building initiatives
their families, strategic collaborations with surgical (livelihood training) to enhance financial literacy and
experts and local Health Departments, meticulous entrepreneurial skills, and strategic interventions to
logistics management, and comprehensive pre and improve water infrastructure and management practices.
post-treatment care.
A key highlight of the program is its success in water
IMPACT augmentation efforts, which have led to the restoration
of multiple Anicuts and Wells along with construction of
Cumulative: The program has impacted 2429 children many water tanks, which gives access to safe drinking
in 09 states (Andhra Pradesh, Assam, Maharashtra, water in communities and water for agriculture. Water
Tamil Nadu, Gujarat, Goa, Odisha, West Bengal and availability for a longer period of time has enabled
Karnataka) since 2021. villagers to transition from monocropping to cultivating
FY 2023-24: We supported 1083 Children across 09 2-3 crops, diversifying their agricultural practices and
States with cleft lip and palate surgeries. significantly boosting their income levels.
Moreover, the availability of water and improved

Thematic Area : Promoting Environmental
accessibility have led to a substantial reduction in
Stewardship: Waste Management & Water drudgery, freeing up valuable time for women to engage
Augmentation in income-generating activities and spend quality time
Our Policy focuses on its long term sustainability strategy - with their families.
reimagining a healthier future for people and the planet,
173
IMPACT management and sanitation while fostering community

engagement and sustainable practices by way of
Cumulative: Through this program we have been able to
providing piped water connections at household levels,
impact 50+ villages, covering 50,000+ beneficiaries,
community water stations for villagers, water for
3000+ Self Help Group (SHG) and Livelihood
drinking and sanitation and Water, Sanitation and
beneficiaries. Through water augmentation we have
Hygiene (WASH) Education in Schools.
been able to repurpose 186 Million Litres of water till
date. IMPACT
FY 2023-24: 5 New villages added, 800 Self Help Cumulative: Through this program we have been able
Group (SHG) & Livelihood Beneficiaries 28 million liters to reach 53 Villages covering more than 76,000 people,
water repurposed, the livelihood beneficiaries have educated 13,000+ children in WASH Program in 105
seen growth in their annual income by 35%. Educational Institutes and repurposed 194 Million Liters
of water till date.
2. Water program for Communities in Amravati with
Water for People, India Trust : FY 2023-24: In the financial year, we have added 3 new
villages, covering 4,205 beneficiaries. We have also
Water is one of the key pillars of Colgate's sustainability
repurposed 17 Million Liters of water and covered 2,135
initiatives. To build a culture of Save Water many initiatives
Children under WASH Education.
have been carried out within Colgate's manufacturing
facilities and offices across India, which has helped not 3. Waste Management Program with Nepra
only in the recycling, reuse and zero discharge of water Foundation:
but also in water conservation and sensitization towards
the cause of saving water. Need: The rural areas of Sanand (Gujarat) and Kundaim
(Goa), face significant challenges in waste management,
Need: The initiative, launched in the fiscal year 2016-17, particularly regarding dry waste and plastic waste. These
marked a significant milestone in addressing critical regions lack organised waste collection, recycling
water and sanitation challenges in Maharashtra. The facilities, and sustainable disposal systems, leading to
inception of this initiative was preceded by meticulous harmful practices such as open burning, landfilling,
groundwork, including an in-depth feasibility study and littering, and dumping in water bodies. These practices
collaborative roundtable discussions with experts from not only contribute to environmental degradation but
various esteemed organizations such as the Government also pose serious health risks to local communities.
of Maharashtra, Water Safety Security Department,
Advanced Centre for Water Resources Development and Upon conducting need assessments in these
Management (ACWADAM), IIT and UNICEF. The program geographies, it became evident that urgent intervention
is very well aligned with SDGs and National Jal Jeevan and sustainable approaches are crucial to address the
Mission. growing waste management crisis. The identified
challenges included 1. Improper Waste Disposal, 2. Lack
About the Program: The program's inception was of Awareness, 3. Absence of Value Chain.
marked by an ambitious goal to extend support
to a cumulative coverage of 36 villages its core, About the Program: Our impactful CSR project focuses
the program adopts a holistic approach towards on sustainable waste management practices across 25
water management, emphasising the importance of villages in Gujarat and Goa, benefitting a cumulative total
sustainable solutions and community engagement. of over 130,000 citizens. The core strategy revolves
around community education and awareness through
Central to the program's success is its emphasis on
workshops, training sessions, and awareness campaigns
community involvement and government collaboration.
emphasising proper waste segregation, recycling
By engaging with local stakeholders, including
practices, and waste reduction strategies. Infrastructure
community leaders, residents, and relevant authorities, the
development efforts include establishing waste
program fosters ownership and collective responsibility
collection centres, segregating facilities, and promoting
towards sustainable water management practices.
eco-friendly disposal methods such as composting for
Community input also plays a crucial role in prioritizing
organic waste. Moreover, empowering local communities
interventions, ensuring that resources are allocated
with knowledge and tools for sustainable waste
effectively to areas of greatest need and impact.
management fosters a sense of ownership and
The program's success hinges on its multifaceted responsibility among residents, ensuring the long-term
approach, addressing critical aspects of water success and sustainability of the program.
174
IMPACT importance of digitalization across various sectors like

education, healthcare, manufacturing, and financial
Cumulative & FY 2023-24: 25 Villages, 130,000
services cannot be overstated. One crucial aspect of this
beneficiaries, 100 Green Jobs (Safai Saathis) generated,
digital transformation is the need for digital financial
~40,000 kgs of Dry waste collection done, ~30,000 kgs
literacy, which has become a global policy priority
of carbon emissions diverted, 3,00,000+ kWh energy
highlighted by organisations like the Organisation for
saved, electricity saved for 190 households.
Economic Co-operation and Development (OECD) and
the G20.
Thematic Area : Keep India Smiling: Education
Scholarships and Women Empowerment India, with its ambitious Digital India initiative, exemplifies
the drive towards digitalization. However, a large portion
1. Colgate Keep India Smiling Education Scholarship of the population residing in rural areas lacks adequate
with Shikshadaan & Buddy4Study digital literacy, posing challenges to their participation
Need: The educational landscape in India faces a in the digital economy and access to financial services.
critical challenge each year as millions of deserving and Recognizing this disparity, initiatives like the Digital
academically talented students are forced to abandon Saksharta Abhiyan (DISHA) have emerged, aiming to
their formal education due to financial limitations. As empower vulnerable populations, especially women and
per the Gross Enrolment Ratio (GER) India has a drop Persons with Disabilities (PwD), through digital and
out ratio of 73% for high school students. This alarming financial literacy programs.
statistic underscores the concerning trend of declining
About the Program: This program is a significant step
enrolment rates at the secondary and higher education
towards holistic empowerment of communities by
levels, highlighting the urgent need for intervention to
means of Digital and Financial Literacy for Women and
address dropout rates across the country.
People with Disabilities in 5 states: Baddi (Himachal
About the Program: We acknowledged a need for a Pradesh), Sricity (Andhra Pradesh), Sanand (Gujarat),
program tailored to support students from underserved Kundaim (Goa) and Udaipur (Rajasthan). The key
communities or those facing crisis situations such as the elements of this program are:
death of the family's primary earner or critical illnesses is
crucial. Such a program should aim to provide holistic 1. Training and Empowerment: The training of women
assistance to ensure that these students can continue as Colgate Digital Sakhis equips them with skills to
their education uninterrupted despite challenging support scheme applications and provide digital and
circumstances. To address this issue Colgate initiated a financial literacy training, fostering self-reliance and
Scholarship program in 2019. One of the distinguishing empowerment.
features of this program is its comprehensive approach.
Beyond offering financial support in the areas of 2. Establishment of Yojana Kendras: Physical hubs in
Education, Sports, and Community betterment, the strategic locations serve as centers for learning,
program also includes an innovative LMS-based application submission, and digital literacy programs,
Mentorship program. promoting community engagement and inclusivity.
IMPACT 3. Access to Welfare Schemes: By enhancing awareness

and access to government welfare schemes, the
Cumulative: Till date we have supported 3171 unique
initiative aims to uplift underprivileged communities
scholars (6346 scholarship awards) with much-needed
and promote financial inclusion.
financial aid, ensuring continuity in their education
journeys and serving as a catalyst for their personal and IMPACT
professional aspirations.
Cumulative & FY 2023-24: This program focuses on
FY 2023-24: This financial year we covered 1,725 fostering inclusive growth and empowerment. It covers
students under our scholarship program. women and people with disabilities across 5 states, 240
Villages, trained 250 Digital Sakhis and empowered
2. Keep India Smiling : Digital & Financial Literacy for
30,000 beneficiaries through Digital & Financial Literacy,
Women and People with Disabilities (PwDs) with
and forged linkages to government policies/benefits
Haqdarshak & Seva Mandir
worth H 600 Million.
Need: In the midst of a rapidly evolving digital era, the
175
Annexure 3
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE

EARNINGS AND OUTGO [PURSUANT TO PROVISIONS OF SECTION 134 OF THE COMPANIES
ACT, 2013 READ WITH THE COMPANIES (ACCOUNTS) RULES, 2014.
A) Conservation of Energy and Water:

Your Company continues its endeavor to improve energy of water viz. water of online quality monitoring,
& water conservation and utilization. Some of the steps Boiler condensate, etc.
taken by the Company for conservation of energy &
- During the year, the plant has invested H 25.56
water at its manufacturing plants during the Financial
Lakh on identified projects viz. Rainwater
Year 2023- 24 are outlined below:
collection and AHU condensate recovery which
Sanand Plant will save an additional 6,800 KL of water on an
annual basis.
• Conservation of Energy :
- The Company is having high priority focus on Goa Plant
energy saving, through 360 degree energy • Conservation of Energy :
conservation program including Lighting, Energy
- Site converted DG engines to run on CNG by
efficiency methods, Analytics to monitor and
installing the OptiBlend system without any
reduce energy consumption, etc. At regular
internal engine modifications. Plant shall achieve
intervals Plant conducts a workshop viz. 'Energy
significant reduction in NOx and CO2 emissions.
Treasure Hunt' to encourage ideas on energy
The system allows 50~70% diesel displacement
conservation from its employees. The ideas
generated for energy conservation are being with cheap natural gas. This feature is enabled in
implemented, which has generated savings of Q4 '2023. Three DGs attained 60+% of CNG
5% energy, quantified to 962,000 KWH of distribution in fuel consumption.
energy saving in the year. - Energy management software (PME-Power
- The Company has set up a 1 Megawatt Solar Monitoring Expert) is migrated to WonderWare
Energy plant at site. In addition, the Company AVEVA Supervisory Control and Data Acquisition
has signed a Power Purchase Agreement for (SCADA) for additional capabilities of new
Hybrid Power generation. In 2023, total Power Event Analysis, including smart alarm
Electricity bought from Hybrid Power plus the management and timeline analysis, Energy
inhouse Solar contributes to 36.83% of total Analysis Dashboards & Reports. Data stored in
power consumption. SQL.
- During the year, the plant has invested H 1.68 - Installed energy efficient screw vacuum pump
Crores on identified projects viz. Efficient which modulates on the vacuum requirement of
lighting, Axial Blowers for AHU, HVAC Duct finishing lines and consumes low power. This
Sealing & Smart Chiller which will save additional resulted in power saving of 21 MWh per Annum.
795,000 KWH of energy on an annual basis.
- Use of the Air leak detector FLUKE 900i device
• Conservation of Water : has resulted in approximate savings of 13
MWh/Annum.
- The Company is having a 360 degree program to
conserve water through Reducing consumption, • Conservation of Water :
Reusing the water & Harvesting the Rainwater.
Through different projects 4.2% non-product - In 2023, the site used 15,291 Cubic Meter of
water was less consumed, quantified to 2599 alternative water and 31,326 Cubic Meter of
Cubic Meters (CuM) water saving in 2023. water returned to the environment through
infiltration and irrigation, which is 22% more
- Net Zero Water - Site has achieved Net Zero
Water in 2023. Last year, Plant had harvested than the water consumed by the site.
about 49,195 Cubic Meter of rain water, based - Usage of Reverse Osmosis (RO) rejected water
on 2023 rainfall data. Further, Plant reuses into cooling towers, led to approximate
27,879 Cubic Meter waste water after treating it
savings of appox 5100 KL per Annum.
in the Effluent Treatment Plant for gardening.
Plant has reused and recycled 9,811 Cubic Meter
176
Baddi Plant - Installed a new efficient Air compressor 1750

• Conservation of Energy : Cubic Feet per minute for meeting plant
requirements. This has resulted in energy
- Electronically Commutated blower installation savings of 209 MWH.
on a few AHU which lead to approximate
saving of 60000 KWH per Annum. • Conservation of Water :
- Electronically Commutated blower installation - Usage of RO Plant's reject water in domestic

on cooling tower which lead to approximate flushing a savings of 280 KL has been achieved.
saving of 26000 KWH per Annum. - Water efficient Aerators fixed for taps in the
- Compressed air leakage arrest using fluke Washrooms & Kitchen resulted in a savings of
device has resulted in approximate savings of 300 KL.
2100 KL per Annum. - 6,168 KL of Rainwater harvested in FY 2023-24
from Roof resulted in savings of purchased
• Conservation of Water :
water from Sri City Authority.
- Steam condensate recovery and reuse as feed
water boiler resulted in approximate saving B) Technology Absorption:
3400 KL per Annum.
The Company continues its efforts on various Research
- Ozone and chlorine sensor water recovery & Development (R&D) activities using technology
from PWT and SWT treatment plants has received from Colgate-Palmolive Company, U.S.A., for
resulted in approximate savings of 2900 KL development and manufacture of oral care and personal
per Annum. care products. The technology received by the Company
- Usage of Multi Grade Filter (MGF) backwash is being absorbed and adapted to the demands of the
into toilets has resulted in approximate local market.
savings of 6 KL per day.
The following are some R&D and technology absorption
- Reuse of MouthWash (MW) reject water as efforts made by the Company during the year:
feed water has resulted in approximate savings
1. Adapted technology for products using both local
of 1300 KL per Annum.
and/or imported raw materials and flavors.
- Reuse of MGF backwash water as raw water
2. Prepared laboratory and pilot plant batches and set
has resulted in approximate savings of 4100 KL
tentative product specifications.
per Annum.
3. Completed product stability tests, microbiological
Sri City Plant tests, analytical tests and method validation.
• Conservation of Energy (Per Annum) : 4. Optimized various manufacturing processes and
- Through our in-house 1.788 MW solar plant we filling trials.
saved on 1660 MWH units from the electricity 5. Tested new product or formula among sensory
board. expert panel Members and consumers.
- Through Power purchase agreements from 6. Finalized product formulations, process and product
renewable sources we have accounted for quality specifications.
3706 MWH energy. Including the inhouse solar
7. Identified alternate local raw material vendors.
generation & PPAs energy from renewable
sources contributes to 41.5%. 8. Reviewed and approved product claims and
provided clinical documentation support.
- 500 Nos. of LED lights with 72 Watts capacity
are replaced with 36 Watts and resulted in a 9. Worked in partnership with the Research &
saving of 131 MWH. Innovation and Product Development partners in
the U.S. to bring new actives/ingredients into the
- Chiller plant integrated in closed loop system
with demand flow algorithm, has resulted in oral and personal care formulations.
savings of 377 MWH. 10. Worked with the cross category research team in the
- Variable frequency drive installed for 13No.s of U.S. on highly advanced instrumentation techniques.
Dust collector at site, resulting in an energy 11. Worked in partnership with global clinical gr to
savings of 222 MWH. conduct clinical Research on various oral and Skin
care formulations.
177
New technologies imported, allowed the Company to have a strong presence in key benefit segments of the Oral
Care market viz., Cavity Protection, Gum Health, Tooth Pain Relief, Anti-Sensitivity, Natural Protection and Freshness
and Personal Care market i.e. Shampoos, Shower Gels and Liquid Hand Soap.
In case of imported technology (imported during the last 3 years reckoned from the beginning of the financial year) :
Has the If not fully absorbed, areas

Year of
Technology Imported technology been where absorption has not taken
Import
fully absorbed? place, and reasons thereof
Palmolive Mood Boosting Range 2023-24 Yes Not Applicable
Colgate Maxfesh Relaunch 2023-24 Yes Not applicable
Colgate Active Salt Relaunch 2023-24 Yes Not applicable
Colgate Cibaca Relaunch 2023-24 Yes Not applicable
Colgate Total Sensitive 2023-24 Yes Not applicable
Colgate Visible White O2 Relaunch 2023-24 Yes Not applicable
Colgate Active salt Relaunch 2022-23 Yes Not applicable
Colgate Maxfresh Charcoal 2022-23 Yes Not applicable
Colgate PerioGard Toothpaste 2022-23 Yes Not applicable
Colgate Strong Teeth Relaunch 2022-23 Yes Not applicable
Colgate Vedshakti Toothpaste Relaunch 2021-22 Yes Not applicable
Colgate Visible White O2 Toothpaste 2021-22 Yes Not applicable
Colgate Gum Expert Toothpaste 2021-22 Yes Not Applicable
Colgate Maxfresh Limited Edition 2021-22 Yes Not applicable
Palmolive Face Foam Wash 2021-22 Yes Not applicable
Palmolive Face Cleansing Gel 2021-22 Yes Not applicable
Palmolive Face Masque 2021-22 Yes Not applicable
Palmolive Face Souffle Scrub 2021-22 Yes Not applicable
Details of expenditure on R&D are given below :
Financial Year 2023-24

Expenditure on R&D
(J in Crores)
Capital 8.53
Recurring 10.02
Total 18.55
C) Foreign Exchange Earnings and Outgo :

During the Financial Year, the Company was able to generate export earnings of H 210.32 Crores and the Foreign
exchange outgo was H 1,013.34 Crores.

Date: May 14, 2024 (DIN : 08822860) (DIN : 07645510)
178
Annexure 4
DISCLOSURE PURSUANT TO SECTION 197 (12) READ WITH RULE 5 OF THE COMPANIES
(APPOINTMENT AND REMUNERATION OF MANAGERIAL PERSONNEL) RULES, 2014.
1. The ratio of the remuneration of each Executive Director 2. The percentage increase in remuneration of each
to the median remuneration of the employees of the Executive Director and Key Managerial Personnel in the
Company for the Financial Year is as follows : Financial Year is as follows :
Sr. No. Name of the Executive Director Ratio+

Approx. percentage
1. Ms. Prabha Narasimhan 48.31
increase in Fixed
2. Mr. M.S. Jacob 25.95 Remuneration in the
Sr. Name of the
3. Mr. Surender Sharma 19.73 Financial Year 2023-24
No. Executive Director
+considered the annualized salaries for the purpose of calculating
as compared to
the ratios. the Financial Year
2022-23+
Employees for the above purpose include all employees
as on March 31, 2024 excluding Associates at the 1. Ms. Prabha 5%
manufacturing locations of the Company. Narasimhan
Non-Executive Directors: 2. Mr. M.S. Jacob 5%
Whole-time Director
The Non-Executive Independent Directors of the
& CFO
Company are paid 'Sitting fees' for attending the Meetings
of the Board, the Committees including meetings of 3. Mr. Surender Sharma 5%
Independent Directors. They are also paid a fixed Whole-time Director -
Legal and Company
Commission as per the Members approval. The details of
Secretary
remuneration of Non-Executive Directors are provided in
the Corporate Governance Report. The Non-Executive, +considered the annualized salary for the directors.
Non-Independent Director of the Company do not receive
any remuneration from the Company.
3. The percentage increase in the median remuneration of employees in the Financial Year :
The percentage change in the median remuneration of all the Salaried & Clerical (S&C) employees in the Financial Year
2023-24 was 9%.
4. The number of permanent employees on the rolls of the Company :

The number of permanent employees on the rolls of the Company as on March 31, 2024 is 2,221.
5. Average percentile increase already made in the salaries of employees other than the managerial personnel in the
last Financial Year and its comparison with the percentile increase in the managerial remuneration and justification
thereof and point out if there are any exceptional circumstances for increase in the managerial remuneration :
In the Financial Year 2023-24 there is an average increase of 12.2% in the fixed remuneration of all the employees* (other
than the managerial personnel) as compared to an increase of 5% in the fixed remuneration of all the Executive Directors.
*Employees for the above purpose include all employees excluding Associates at the manufacturing locations of the Company.
179
6. Affirmation :
Remuneration paid by the Company to its Executive Directors, Key Managerial Personnel and Senior Management
employees is as per the Nomination and Remuneration Policy and other relevant policies of the Company.

Date: May 14, 2024 (DIN : 08822860) (DIN : 07645510)
180
Annexure 5
Form No. MR-3
SECRETARIAL AUDIT REPORT
FOR THE FINANCIAL YEAR ENDED 31ST MARCH, 2024
[Issued in Pursuance to Section 204(1) of the Companies Act, 2013 and Rule No. 9 of the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014 with modifications as deemed necessary, without changing the
substance of format given in MR-3]
To, B. Based on our verification of the Company's books,

The Members, papers, minute books, forms and returns filed and other
Colgate-Palmolive (India) Limited records maintained by the Company and also the
Colgate Research Centre, Main Street, information provided by the Company, its officers, agents
Hiranandani Gardens, Powai, and authorized representatives during the conduct of
Mumbai 400076. secretarial audit, we hereby report that in our opinion, the
Company has, during the audit period covering the
We have conducted the secretarial audit of the compliance financial year ended on 31st March, 2024 complied with
of applicable statutory provisions and the adherence to the statutory provisions listed hereunder and also that the
good corporate practices by Colgate-Palmolive (India) Company has proper Board-process (duly evolved) and
Limited (CIN: L24200MH1937PLC002700) (hereinafter called compliance-mechanism in place to the extent and as
'the Company') for the financial year ended 31st March, 2024. applicable to the Company in the manner and subject to
Secretarial Audit was conducted in a manner that provided us the reporting made hereinafter:
a reasonable basis for evaluating the corporate conducts/
statutory compliances and expressing our opinion thereon. C. We have examined the books, papers, minute books,
forms and returns filed and other records maintained by
A. In expressing our opinion, it must be noted that-
the Company for the financial year ended on 31st March,
i. Maintenance of secretarial record is the responsibility 2024 according to the provisions of :
of the management of the Company. Our
I. The Companies Act, 2013 ('Act') and the rules made
responsibility is to express an opinion on these
thereunder;
secretarial records based on our audit.
II. The Securities Contracts (Regulation) Act, 1956
ii. We have followed the audit practices and processes
('SCRA') and the rules made thereunder;
as were appropriate to obtain reasonable assurances
about the correctness of the contents of the III. The Depositories Act, 1996 and the Regulations and
secretarial records. The verification was done on test Bye-laws framed thereunder;
basis to ensure that correct facts are reflected in
IV. Foreign Exchange Management Act, 1999 and the
secretarial records. We believe that the processes
rules and regulations made thereunder to the extent
and practices, we followed provide a reasonable
of Foreign Direct Investment, Overseas Direct
basis of our opinion.
Investment and External Commercial Borrowings
iii. We have not verified correctness and appropriateness (During the year under review not applicable to
of financial records and books of accounts of the the Company);
Company.
V. A. The following Regulations and Guidelines
iv. Wherever required, we have obtained the management prescribed under the Securities and Exchange
representation about the compliance of laws, rules and Board of India Act, 1992 ('SEBI Act'): -
regulations and happening of events etc.
(a) The Securities and Exchange Board of India
v. The compliance of provisions of Corporate and other (Substantial Acquisition of Shares and Takeovers)
applicable laws, rules, regulations, standards is the Regulations, 2011;
responsibility of the management. Our examination
was limited to the verification of procedures on test (b) The Securities and Exchange Board of India
basis. (Prohibition of Insider Trading) Regulations, 2015;
vi. The Secretarial Audit report is neither an assurance as (c) The Securities and Exchange Board of India
to the future viability of the Company nor of the (Registrars to an issue and Share Transfer Agents)
efficacy or effectiveness with which the management Regulations, 1993 regarding the Companies Act
has conducted the affairs of the Company. and dealing with client;
181
V. B. The Company has not undertaken any of the (ii) Securities and Exchange Board of India (Listing
activities during the audit period as envisaged in Obligations and Disclosure Requirements)
the following Regulations and Guidelines Regulations 2015;
prescribed under the Securities and Exchange During the period under review the Company has
Board of India Act, 1992 ('SEBI Act') and hence are complied with the provisions of the Act, Rules,
not relevant for the purpose of audit: - Regulations, Guidelines, Standards etc. mentioned
a. The Securities and Exchange Board of India above.
(Share Based Employee Benefits and Sweat D. We further report that--
Equity) Regulations, 2021;
I. The Board of Directors of the Company is duly
b. The Securities and Exchange Board of India constituted with proper balance of Executive
(Issue and Listing of Non-Convertible Securities) Directors, Non-Executive Directors and Independent
Regulations, 2021; Directors. The changes in the composition of the
c. The Securities and Exchange Board of India Board of Directors that took place during the period
(Delisting of Equity Shares) Regulations, 2021; under review were carried out in compliance with the
provisions of the Act;
d. The Securities and Exchange Board of India
(Buyback of Securities) Regulations, 2018; II. Adequate notice is given to all directors to schedule
the Board Meetings, agenda and detailed notes on
e. The Securities and Exchange Board of India agenda (except agenda items having Unpublished
(Issue of Capital and Disclosure Requirements) Price Sensitive Information (UPSI)) were sent at least
Regulations, 2018. seven days in advance, and a system exists for
VI. We further report that, having regard to the seeking and obtaining further information and
compliance system prevailing in the Company and clarifications on the agenda items before the meeting
on the examination of the relevant documents and and for meaningful participation at the meeting;
records in pursuance thereof, on test -check basis the For the agenda notes which were sent at a notice of
Company has complied with the following specific less than seven days, the requisite consent of the
laws to the extent applicable to the Company : Board/Committee was taken.
a. The Hazardous Waste (Management, Handling III. Majority decision is carried through and there was no
and Trans boundary Movement) Rules, 2008 ; instance of any director expressing any dissenting
b. Factories Act, 1948; views.
c. The Drugs and Cosmetics Act, 1940; E. We further report that there are adequate systems and
d. The Legal Metrology Act, 2009; processes in the Company commensurate with its size
e. Plastic Waste Management Rules, 2016; and operations to monitor and ensure compliance with
applicable laws, rules, regulations and guidelines.
f. The Legal Metrology (Packaged Commodities)
Rules, 2011 as amended; F. We further report that during the audit period none of
g. Local laws as applicable to various offices and the following events has taken place-
plants. I. Public/Rights/Preferential Issue of Shares/Debentures
We have also examined compliance with the etc.
applicable clauses of the following: II. Buy-back of securities.
(i) Secretarial Standards in respect of Meetings of III. Major decision taken by the Members in pursuance
the Board of Directors (SS-1) and General to section 180 of the Companies Act, 2013.
Meetings (SS-2) as amended from time to IV. Amalgamation/Reconstruction, etc.
time issued by The Institute of Company
V. Foreign Technical Collaborations.
Secretaries of India;
For DHOLAKIA & ASSOCIATES LLP

(Company Secretaries)
Peer Review Certificate No: 2404/2022 CS Nrupang B. Dholakia

Place: Mumbai FRN:P2014MH034700 Designated Partner
Date: May 14, 2024 UDIN: F010032F000369061 FCS-10032 CP No. 12884
182
Business Responsibility and Annexure 6
Sustainability Report
Introduction
Colgate-Palmolive (India) Limited is a caring, innovative growth company reimagining a healthier future for all people and
our planet. We seek to deliver sustainable, profitable growth and superior Shareholder returns, as well as provide Colgate
people with an innovative and inclusive work environment. We do this by developing and selling science-led products that
make people’s lives healthier and more enjoyable and by embracing our organization's sustainability, social impact,
diversity, equity and inclusion strategies.
We are dedicated to fostering long-term value creation for all stakeholders through robust and equitable governance
mechanisms. Grounded in principles of integrity and transparency, our governance structures ensure the dissemination of
ethical standards throughout our Operations. We are committed to ensuring the well-being of those we serve, building a
culture of inclusivity and creating meaningful opportunities for all people to succeed inside and outside Colgate. Holistic
well-being is an organizational priority.
With the Colgate brand in more homes than any other, we are presented with great opportunities and new challenges as we
work to integrate sustainability into all aspects of our business and create positive social impact. We are determined to
position ourselves for further growth as we act on our 2025 Sustainability & Social Impact Strategy.
In our pursuit of inspiring trust and transparency, we are proud to enter the third year of publishing our Business
Responsibility and Sustainability Report (BRSR), which showcases our progress in ESG initiatives. This report empowers
stakeholders to make informed decisions as we collectively work towards a sustainable future.
Section A: General Disclosures

I. Details of the listed entity
1. Corporate Identity Number (CIN) of the Company L24200MH1937PLC002700

2. Name of the Company Colgate-Palmolive (India) Limited
3. Year of incorporation 1937
4. Registered office address Colgate Research Centre, Main Street, Hiranandani
Gardens, Powai, Mumbai - 400 076, Maharashtra, India
5. Corporate address Colgate Research Centre, Main Street, Hiranandani
Gardens, Powai, Mumbai - 400 076, Maharashtra, India
6. E-mail investors_grievance@colpal.com
7. Telephone +(91)-22-6709 5050
8. Website www.colgatepalmolive.co.in
9. Financial year for which reporting is being done April 1, 2023 – March 31, 2024
10. Name of the Stock Exchange(s) where shares are 1. BSE Limited (BSE)
listed 2. National Stock Exchange of India Limited (NSE)
11. Paid-up Capital (H) 2,719.86 Lakhs
12. Name and contact details (telephone, email address) Name: Ms Prabha Narasimhan
of the person who may be contacted in case of any Telephone: +(91) 22-6709 5050
queries on the BRSR report Email address: investors_grievance@colpal.com
13. Reporting boundary- Are the disclosures under this Standalone basis
report made on a standalone basis (i.e. only for the
entity)or on a consolidated basis (i.e. for the entity
and all the entities that form a part of its consolidated
financial statements, taken together)
14. Name of assurance provider M/s. DNV Business Assurance India Private Limited
15. Type of assurance obtained BRSR Reasonable Assurance
GRI 2-5
183
II. Products/Services
16. Details of business activities (accounting for 90% of the turnover):

Description of main activity Description of business activity % of turnover
Manufacturing Personal Care (including oral care) 98.19%
17. Products/Services sold by the entity (accounting for 90% of the entity’s Turnover):
Product/Service NIC Code % of total Turnover contributed
Toothpaste and Group 202
97.17%
toothbrush
III. Operations
18. Number of locations where plants and/or operations/offices of the entity are situated:
Location Number of Plants Number of Offices Total

National 4 4 8
International Nil Nil Nil
19. Markets served by the entity:
a. Number of locations
Location Number
National (No. of States) 28 States and 8 UTs
International 18
b. What is the contribution of exports as a percentage of the total turnover of the entity?
4%
c. A brief on types of customers

Colgate-Palmolive (India) Limited caters to a wide range of oral care needs that consumers may have. To ensure that all
the products are easily accessible to customers, the Company collaborates through its distributor’s network or otherwise
with a wide network of diverse wholesalers, modern trade stores, e-commerce and other retailers. The Company’s end
users belong to all age groups, diverse geographical locations (urban and rural), and households of varying sizes and
types.
IV. Employees
20. Employees at the end of Financial Year:
a. Employees and Workers (including differently abled):

Total Male Female
Particulars
(A) No. (B) % (B/A) No. (C) % (C/A)
Employees*
Permanent (D) 799 589 74% 210 26%
Other than permanent (E) 1,673 1,072 64% 601 36%
Total employees (D + E) 2,472 1,661 67% 811 33%
Workers*
Permanent (F) 1,422 1,367 96% 55 4%
Other than permanent (G) 1,017 802 79% 215 21%
Total workers (F + G) 2,439 2,169 89% 270 11%
*The reporting boundaries for this year have been extended to cover more company locations.
GRI 2-6
184
b. Differently abled Employees and Workers:
Total Male Female

Particulars
(A) No. (B) % (B/A) No. (C) % (C/A)
Differently Abled Employees
Permanent (D) 1 1 100% Nil -
Other than Permanent (E) Nil Nil - Nil -
Total Employees (D + E) 1 1 100% Nil -
Differently Abled Workers
Permanent (F) 6 6 100% Nil -
Other than Permanent (G) 15 15 100% Nil -
Total Workers (F + G) 21 21 100% Nil -
21. Participation/Inclusion/Representation of women:
Total No. and percentage of Females

Particulars
(A) No. (B) % (B/A)
Board of Directors 12 5 42%
Key Management Personnel 3 1 33%
22. Turnover rate for permanent employees and workers (Disclose trends for the past 3 years)
FY 2024 FY 2023 FY 2022

Particulars
Male Female Total Male Female Total Male Female Total
Permanent Employees 13% 16% 14% 19% 19% 19% 15% 21% 17%
Permanent Workers 6% 11% 7% 3% 16% 3% 3% 11% 4%
V. Holding, Subsidiary and Associate Companies (including joint ventures)
23. Names of holding / subsidiary / associate companies / joint ventures:
Indicate whether
% of shares Does the entity indicated at column A,
Name of the holding / subsidiary / holding/ Subsidiary/
held by listed participate in the Business Responsibility
associate companies / joint ventures (A) Associate/ Joint
entity initiatives of the listed entity? (Yes/No)
Venture
Colgate-Palmolive Company, USA Holding Company Nil No
Colgate-Palmolive (Asia) Pte. Ltd. Holding Company Nil No
Norwood International Incorporated Holding Company Nil No
VI. CSR Details

24. (i) Whether CSR is applicable as per section 135 of Companies Act, 2013 : Yes
(ii) Turnover : J 5,64,418.01 Lakhs
(iii) Net worth : J 1,87,630.09 Lakhs
185
VII. Transparency and Disclosures Compliances
25. Complaints/Grievances on any of the principles (Principles 1 to 9) under the National Guidelines on Responsible
Business Conduct:
Grievance Redressal
Mechanism in Place FY 2023-24 FY 2022-23
(Yes/No)
Stakeholder
group from Number of Number of
whom complaint Number of complaints Number of complaints
(If yes, then provide
is received complaints pending complaints pending
web-link for grievance Remarks Remarks
filed during resolution filed during resolution
redress policy)
the year at close of the year at close of
the year the year
Communities Yes Nil Nil - Nil Nil -
https://www.colgate
palmolive.co.in/
contact-us
Shareholders Yes 84 Nil - 124 4 All pending complaints
https://www. as on March 31, 2023
colgateinvestors.co.in/ were subsequently
investor-contacts resolved.
Investors (Other N.A. - - - - - -
than Shareholders)
Employees and Yes 8 Nil - 6 1 All pending complaints
workers (Available on Intranet) as on March 31, 2023
were subsequently
resolved.
Consumers Yes 3,836 Nil Consumers reach out to 3,587 Nil Consumers reach out
https://www.colgate the Company to report to the Company to
palmolive.co.in/ product- related report product related
contact-us experiences that could experiences that
vary from manufacturing, could vary from
pricing, preference, and manufacturing, pricing,
adverse event complaints preference, and adverse
through the Company event complaints.
consumer contact These grievances are
channels (details printed addressed in a timely
on the product packaging manner in accordance
as well as on the Company with the Colgate-
website). All grievances Palmolive (India)
are addressed in a timely Limited's Consumer
manner in accordance Satisfaction Policy
with Colgate-Palmolive
(India) Limited's consumer
satisfaction policy
Value Chain Yes Nil Nil - Nil Nil -
Partners Third Party
Code of Conduct
Other: NGO Yes Nil Nil - Nil Nil -
https://www.colgate
palmolive.co.in/
contact-us
26. Overview of the entity’s material responsible business conduct issues:

Please indicate material responsible business conduct and sustainability issues pertaining to environmental and
social matters that present a risk or an opportunity to your business, rationale for identifying the same, approach
to adapt or mitigate the risk along-with its financial implications, as per the following format:
Indicate Financial implications of

Material issue whether risk Rationale for identifying In case of risk, approach to the risk or opportunity
identified or opportunity the risk / opportunity adapt or mitigate (Indicate positive or
(R/O) negative implications)
Responsible Risk Adverse events across the Implementation of Supplier Any adverse instances with
supply chain supply chain can hamper the Responsible Sourcing Assessment supply chain can disrupt
Company's reputation as a (SRSA). Suppliers are assessed on operations and availability
responsible business four ESG parameters (labour of products across India
standards, health and safety, ethics
and integrity and environment).
GRI 2-25, GRI 3-1, GRI 3-3
186

Material issue whether risk Rationale for identifying In case of risk, approach to the risk or opportunity
identified or opportunity risk / opportunity adapt or mitigate (Indicate positive or
(R/O) negative implications)
In case of any deviation, the
suppliers are asked to take
necessary corrective actions
Community Opportunity Aligning CSR initiatives with All social impact initiatives have Being a responsible
development the needs of the community been implemented based local corporate citizen,
can create a positive impact need assessments, interventions community upliftment is a
which can unlock goodwill are planned in alignment with local critical aspect of our
and social license to operate govt bodies, and communities. operations
Business ethics, Risk Building a culture of integrity i. Development and training on Any instances of unethical
governance and and transparency is linked Code of Conduct practices have the risk of
transparency with fulfillment of mandates ii. Development of policies, tarnishing Company
as well as strengthening programs and mechanisms for reputation and attracting
relationships with avoiding workplace fines/penalty which can in
stakeholders discrimination, harassment, and
turn affect business
corruption, among others
continuity
Consumer Risk Consumer health and safety i. Robust protocols for design, Any health and safety
health and is critical for gaining packaging and consumer safety incident can reduce
safety and consumer trust and for at product development stages customer trust and adversely
Product transparency. Non- ii. Implementation of Quality impact the demand of
Stewardship compliance regarding Management System (QMS) products. Moreover,
product information and iii. Effective product recall instances of non-compliance
labeling as well as marketing management with product marketing and
and communications can iv. Transparent communication labeling can attract
have adverse effects monetary fines/
punishments
Health and Risk and Risk: Occupational health i. Implementation of a Incidents of occupational
safety of our Opportunity and safety is a critical aspect Company-wide robust EHS health and safety
people for ensuring employee management system. management system may
welfare. Non- compliance ii. Ensuring periodic internal and cause loss in man-days and
with appropriate safety external audits further impact productivity
standards can attract high iii. Training all employees and of operations. It can also
frequency of health and workers on safe working demoralize employees and
safety incidents practices workers which can reduce
iv. Investigation of each reported motivation and productivity
Opportunity: A robust EHS case and preparation of
management system with remedial plan
appropriate hazard
identification, mitigation
plan and root cause analysis
will showcase Company's
commitments towards
employee safety, increased
productivity and motivation
Human rights Risk Instances of human rights i. Comprehensive Human Rights Company's reputation and
violation or non-compliance Policy and Procedures relationships with
of statutory norms can lead ii. Human Rights Due Diligence stakeholders can be
to adverse financial and carried out to avoid workforce adversely affected in case
reputational implications and discrimination, sexual of any instances of
deteriorate employee morale harassment, child labor, and non-compliance
& retention forced labor, amongst others
187

Material issue whether Rationale for identifying In case of risk, approach to the risk or opportunity
identified risk or risk / opportunity adapt or mitigate (Indicate positive or
opportunity negative implications)
Diversity and Opportunity Fostering a culture which is i. Diversity inclusion policy and Investing in human capital
inclusion inclusive and integrates training has the ability to improve
diversity, employee well ii. Employee and worker skill employee productivity, spur
being, training and development training programs innovation and attract
development will strengthen employees with similar
iii. Utilization of digital platforms
the culture, performance and organizational value
such as WYSA and Employee
will attract & retain employees
Assistance Programs (EAP) for
improving mental well-being
Water Risk Unavailability of surface i. Implementation of Zero Liquid Shortage of water can slow
stewardship water during summer can Discharge facility at all four down plant productivity.
adversely hamper operations. sites Incidents of non- compliance
Mismanagement of ii. Water saving initiatives in the regarding wastewater can
wastewater can attract legal supply chain lead to monetary loss in
complications terms of fines and penalties
iii. Water access, augmentation,
and conservation programs
for communities in water-
stressed regions
Energy and Opportunity Enhancing and utilizing i. Transition towards greener Increasing self- reliance on
emissions green energy to reduce options such as onsite solar sustainable and green
management carbon footprint of the projects, hydroelectricity, and energy can reduce Company
organization wind energy costs and attract investment
ii. Minimization of emissions opportunities
throughout the value chain
through greener alternatives
such as utilization of CNG
based trucks and multimodal
shipments
Waste Risk Poor waste management can Implementation of robust waste Non-compliance with
management lead to non-compliance with management system regulatory norms on waste
legal requirements for waste incorporating initiatives that management can lead to
disposal ensure hazardous waste fines and penalties and
management and responsible adversely affect the
disposal to ensure adherence operating costs of the
with zero waste to landfill Company
program
Sustainable Opportunity Switching to renewable and i. Transition towards renewable Switching to sustainable
packing increasing reused packing materials reduces the waste packaging has enhanced
materials reduces going to landfill circular economy and
dependence on virgin ii. Increasing usage of reused helped reduce overall
materials thereby, reducing materials has reduced the carbon footprint of the
consumption of dependency on virgin Company
non- renewable materials This has an ability to
raw materials. implement a circular economy
within the Company.
188
Section B: Management and Process Disclosures

The National Guidelines for Responsible Business Conduct (NGRBC) as prescribed by the Ministry of Corporate Affairs (MCA)
advocates nine principles referred as P1-P9. Through the existence of various policies and procedures, Colgate-Palmolive
(India) Limited aims to provide robust governance around the given nine NGRBC Principles and Core Elements.
Principle 1 Principle 2 Principle 3

Businesses should conduct and Businesses should provide goods Businesses should respect and
govern themselves with integrity, and services in a manner that is promote the wellbeing of all
and in a manner that is ethical, sustainable and safe employees, including those in
transparent, and accountable their value chain

Businesses should respect the Businesses should respect and Businesses should respect and
interests of and be responsive to promote human rights make efforts to protect and
all its stakeholders restore the environment

Businesses when engaging in Businesses should promote Businesses should engage
influencing public and regulatory inclusive growth and equitable with and provide value to their
policy, should do so in a manner development consumers in a responsible
that is responsible and transparent manner
189
This section is aimed at helping businesses demonstrate the structures, policies and processes put in place towards
adopting the NGRBC Principles and Core Elements.
P P P P P P P P P
Disclosures
1 2 3 4 5 6 7 8 9
manufacturing
Human Rights
Responsibility
Transparency
Engagement
Stakeholders
Engagement
Public Policy
Responsible
Respect for
Resources
Advocacy
Customer
Inclusive
Ethics &
Product
Growth
Human
Policy and Management Processes
1. a. Whether your entity's policy/policies Yes Yes Yes Yes Yes Yes Yes Yes Yes
cover each principle and its core
elements of the NGRBCs. (Yes/No)
b. Has the policy been approved by the Yes Yes Yes Yes Yes Yes Yes Yes Yes
Board? (Yes/No)
c. Web Link of the Policies, if available Colgate-Palmolive (India) Limited's sustainability policies can be
accessed at: https://www.colgatepalmolive.com/en-us/sustainability
2. Whether the Company has translated the Yes Yes Yes Yes Yes Yes Yes Yes Yes
policy into procedures. (Yes/No)
3. Do the enlisted policies extend to the Yes Yes Yes Yes Yes Yes Yes Yes Yes
Company's value chain partners? (Yes/No)
4. Name of the national and international Colgate-Palmolive (India) Limited has developed Environment, Health,
codes/certifications/labels/standards (e.g. and Safety standards in line with Occupational Health and Safety
Forest Stewardship Council, Fairtrade, Assessment Specification and Environmental Protection Agency for all the
Rainforest Alliance, Trustea) standards (e.g. owned manufacturing sites. All the sites continue to be TRUE ® certified
SA 8000, OHSAS, ISO, BIS) adopted by the for Zero Waste (Platinum level) by the Green Business Certification Inc.
Company and mapped to each principle. Additionally, the manufacturing site in Sri City is ISO 9000 certified.
Sanand and Sri City Phase 1 & 2 are LEED - Gold certified sites.
5. Specific commitments, goals and targets The Company has defined 2025 Sustainability & Social Impact Strategy
set by the Company with defined timelines, which has specific goals and targets covering aspects of the nine
if any. principles. For more information, please refer to Page No. 26 ‘2025
Sustainability & Social Impact Strategy’ section of this report
6. Performance of the Company against the
specific commitments, goals and targets Please refer to Page No. 26 ‘2025 Sustainability &
along with reasons, in case the same are Social Impact Strategy’ section of this report.
not met.
Governance, leadership, and oversight
7. Statement by director responsible for the I am pleased to present our third edition of Business Responsibility
business responsibility report, highlighting and Sustainability Report (BRSR), which showcases our ESG progress
ESG related challenges, targets and and empowers stakeholders to make informed decisions. For more
achievements (listed entity has flexibility information please refer to Page No. 2 of the Annual and
regarding the placement of this disclosure) ESG Report for FY 2023-24.
8. Details of the highest authority responsible Name: Ms. Prabha Narasimhan
for implementation and oversight of the Designation: Managing Director and Chief Executive Officer
Business Responsibility policy (ies). DIN: 08822860
9. Does the entity have a specified Committee Yes, the Company has formed an ESG and CSR Committee (ECC)
of the Board/ Director responsible for which is responsible for the decision-making on
decision making on sustainability related sustainability-related issues. For more details on the ECC please
issues? (Yes /No). If yes, provide details. refer to the 'ESG-Our Governance Approach' section of the
Annual and ESG Report for FY 2023-24.
190
10. a) Performance against above policies and follow up action

b) Compliance with statutory requirements of relevance to the principles, and, rectification of any non-
compliances.
Indicate whether review was undertaken Frequency
by Director / Committee of the Board/ (Annually/ Half yearly/ Quarterly/ Any
Subject for Review Any other Committee other – please specify)
p p p p p p p p p p p p p p p p p p
1 2 3 4 5 6 7 8 9 1 2 3 4 5 6 7 8 9
Performance against above
policies and follow up The policies are reviewed internally on a periodic basis.
action
Compliance with statutory
requirements of relevance
to the principles, and, Colgate-Palmolive (India) Limited is in compliance with all applicable
rectification of any non- statutory requirements.
compliances
Particulars P1 P2 P3 P4 P5 P6 P7 P8 P9
11. Has the entity carried out independent The policies are assessed / evaluated internally by local and global
assessment/ evaluation of the working of its team periodically . No independent assessment/evaluation review
policies by an external agency? (Yes/No). is conducted through external partners.
If yes, provide name of the agency.
12. If answer to question (1) above is "No" i.e., not all Principles are covered by a policy, reasons to be stated
Particulars P1 P2 P3 P4 P5 P6 P7 P8 P9
The entity does not consider the principles
material to its business (Yes/No)
The entity is not at a stage where it is in a
position to formulate and implement the
policies on specified principles (Yes/No)
The entity does not have the financial or/ N.A.
human and technical resources available for
the task (Yes/No)
It is planned to be done in the next financial
year (Yes/No)
Any other reason (please specify)
191
Section C: Principle Wise Performance Disclosure
Principle 1: Businesses should conduct and govern themselves with integrity, and in a manner that is Ethical,
Transparent, and Accountable
Essential Indicators
1. Percentage coverage by training and awareness programmes on any of the Principles during the financial year:
Total number of % age of persons in respective

Topics / principles covered under the training and
Segment training and awareness category covered by the
its impact
programmes held awareness programs
Board of Directors 12 Principles covered include safe and sustainable 100%
provision of goods, employee well-being, human
rights, stakeholder inclusion, environment
stewardship, equitable and inclusive growth.
Key Managerial 21 Principles covered include responsible business 100%
Personnel conduct, equitable and inclusive growth, risk
management, environment stewardship, safe and
sustainable provision of goods, employee well-
being, human rights, etc.
Employees other 9 Curated training programs covering wide gamut of 100%
than BoD and KMPs topics such as anti-bribery, anti-competition,
prevention of harassment, trade compliance, data
privacy, etc. are mandatorily required to be
completed by all employees.
Workers 4 Training and awareness programs conducted on 100%
minimum safe behaviors, plant floor operator micro
awareness, and Code of conduct acknowledgment.
2. Details of fines/ penalties/ punishment/ award/ compounding fees/ settlement amount paid in proceedings (by
the entity or by directors/ KMPs) with regulators/ law enforcement agencies/ judicial institutions, in the financial
year, in the following format
Monetary
Name of the regulatory/ Amount Has an appeal
NGRBC
Particulars enforcement agencies/ (in J) Brief of the Case been preferred?
Principle
judicial institution (Yes / No)
Penalty/ Fine 1 Deputy Commissioner 4,15,182 E-way bill discrepancy No

of State Tax, WB
1 Chandigarh VAT 3,000 As a part of VAT assessment No
authority
1 Himachal Pradesh VAT 25,000 As a part of VAT assessment No
authority
1 Tamilnadu GST authority 1,00,000 For alleged non maintenance No
of records at principal
place of business
GRI 2-27
192
Monetary
NGRBC
Particulars enforcement agencies/ (in J) Brief of the case been preferred?
Principle
Penalty/ Fine 1 Maharashtra 10,000 General penalty under GST No
GST authority regulations
1 Himachal Pradesh 1,00,000 Related to E way bill No
GST authority regulations
1 Gujarat GST authority 10,000 General penalty under GST No
regulations
1 Punjab GST authority 10,000 Related to E way bill No
regulations
1 Andhra Pradesh 18,58,521 Unauthorized Solar Yes
Southern Power Installations
Distribution
Company Limited
1 Kolkata Alipore 10,000 General penalty Yes
Police Court
Settlement Nil Nil Nil Nil Nil
Compounding fee Nil Nil Nil Nil Nil
Note: None of these penalties were material in terms of the requirements of SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015.
Non-Monetary
NGRBC
Particulars enforcement agencies/ (in J) Brief of the Case been preferred?
Principle
Imprisonment
Nil
Punishment
3. Of the instances disclosed in Question 2 above, details of the Appeal/ Revision are preferred in cases where monetary
or non- monetary action has been appealed.
Name of the regulatory/ enforcement

Case Details
agencies/ judicial institutions
Andhra Pradesh Southern Power Distribution Company Limited Unauthorized Solar Installations
Kolkata Alipore Police Court General penalty
4. Does the entity have an anti-corruption or anti-bribery policy? If yes, provide details in brief and if available, provide
a web link to the policy.
Yes, Colgate-Palmolive (India) Limited has an anti-bribery policy which recognizes and adheres to the local anti-bribery
laws in all the countries where it does business. Through the policy, the Company prohibits its employees and any third
parties acting on its behalf or in connection with the business, from offering anything of value, either directly or indirectly,
to any government officials or private individuals/parties with the aim of achieving prompt service or business advantage.
The policy reflects Colgate-Palmolive (India) Limited's ethos of maintaining high ethical standards and regular compliance
with all applicable laws. The Company ensures strict adherence by its people and provides them online training on the
policy, its expectations and reporting mechanism on an annual basis. Colgate-Palmolive (India) Limited expects all third
parties to reinforce compliance of anti- bribery policy among their employees and subcontractors.
Colgate-Palmolive (India) Limited has a robust anti-bribery due diligence process for its vendors, suppliers and other
stakeholders dealing with any Government or statutory authorities on behalf of the Company, in accordance with its
anti-bribery policy.
GRI 205-1, GRI 205-2
193
The Company has a zero tolerance for any breach of its policy. Failure to comply with any listed anti-bribery laws can
lead to termination of employment or business relationships.
To know further, the policy can be accessed at: https://www.colgatepalmolive.com/en-us/who-we-are/our-policies/anti-

bribery-policy
5. Number of Directors/KMPs/employees/workers against whom disciplinary action was taken by any law enforcement
agency for the charges of bribery/ corruption:
Particulars FY 2023-24 FY 2022-23

Directors
KMPs
Nil Nil
Employees
Workers
6. Details of complaints with regard to conflict of interest:

Number of complaints received in relation
to issues of Conflict of Interest of the Nil
Directors
Number of complaints received in relation
Nil
to issues of Conflict of Interest of the KMPs
7. Provide details of any corrective action taken or underway on issues related to fines/penalties/action taken by
regulators/ law enforcement agencies/ judicial institutions, on cases of corruption and conflicts of interest: N.A.
8. Number of days of accounts payables ((Accounts payable *365) /Cost of goods/ services procured) in the following
format:

Number of days of accounts payables 97 85
9. Open-ness of business
Provide details of concentration of purchases and sales with trading houses, dealers, and related parties along-with
loans and advances & investments, with related parties, in the following format:
Parameter Metrics FY 2023-24 FY 2022-23

Concentration of a. Purchases from trading houses as % of total purchases 1.0% 0.8%
Purchases b. Number of trading houses where purchases are made 5 6
from
c. Purchases from top 10 trading houses as % of total 100% 100%
purchases from trading houses
Concentration of a. Sales to dealers / distributors as % of total sales 74.2% 74.7%
Sales b. Number of dealers / distributors to whom sales are made 2,221 2,224
c. Sales to top 10 dealers / distributors as % of total sales to 4.2% 4.4%
dealers / distributors
Shares of RPTs in a. Purchases (Purchases with related parties / Total 2.7% 2.6%
Purchases)
b. Sales (Sales to related parties / Total Sales) 1.9% 2.6%
c. Loans & advances (Loans & advances given to related N.A. N.A.
parties / Total loans & advances)
d. Investments (Investments in related parties / Total N.A. N.A.
Investments made)
GRI 2-15, GRI 205-1, GRI 205-3
194
Principle 1:
Leadership Indicators
1. Awareness programs conducted for value chain partners on any of the Principles during the financial year:
Total number of % age of value chain partners covered (by the

Topics / principles covered
awareness programmes value of business done with such partners)
under the training
held under the awareness programs
Nil N.A.
2. Does the entity have processes in place to avoid/ manage conflict of interests involving Members of the Board?
Yes, Directors do not participate in agenda items at the Board/ Committee Meetings in which they are interested or
deemed to be an interested party. Disclosures are also made by Directors regarding their Directorship/
Committeeship/ Shareholding/ Association on a timely basis.
Principle 2: Businesses should provide goods and services in a manner that is sustainable and safe
1. Percentage of R&D and capital expenditure (capex) investments in specific technologies to improve environmental
and social impacts of product and processes to total R&D and capex investments made by the entity, respectively:
Details of improvements in
environmental and social impacts
R&D 14% 17% The R&D investments are intended to improve the overall
Capex 11.6% 12.6% consumer benefit of oral health products, both in terms of
sensorials and new technologies. This includes the
improvement in current technologies such as Maxfresh for
freshness, Colgate Strong Teeth that gives a Calcium
boost, Total Sensitive for overall protection, and Colgate
Active Salt for solving early niggles. Improvement in
sensorial for Visible White O2 and Colgate Cibaca.
2. a. Does the entity have procedures in place for sustainable sourcing?

Yes, Colgate-Palmolive (India) Limited has procedures in place for sustainable sourcing.
The Company selects its suppliers through strictly laid down procedures and engages with them according to the
business standards described in the Third Party Code of Conduct. In 2012, the Company launched 4-pillar audit
and risk assessment tools.
Under "SUSTAINABLE SOURCING PROGRAMS", Colgate is running two programs that help identify such gaps. The
names of these two Programs are as under:
1. Supplier Responsible Sourcing Assessment Program (SRSA)

2. Enhanced Supplier Management (ESM) Program
Both these programs are well structured & Colgate doesn't work with suppliers if the risk is very significant.
b. If yes, what percentage of inputs were sourced sustainably?
100% of the inputs sourced from assessed suppliers (66 suppliers contributing to 73% of spending) were
sourced sustainably
195
3. Describe the processes in place to safely reclaim your products for reusing, recycling, and disposing at the end of
life, for (a) Plastics (including packaging) (b) E-waste (c) Hazardous waste and (d) other waste.
a. Plastics (including packaging)

All the pre-consumer plastic waste generated at the manufacturing site is sent for responsible recycling through an
authorized waste handler only. The Company has partnered with authorized waste management service providers for
responsible collection, sorting, and recycling/co-processing of contaminated post- consumer plastic packaging.
b. E-waste
The Company disposes all e-waste through a government-approved e-waste recycler.
c. Hazardous waste
Each type of hazardous waste is disposed in line with the stipulated guidelines through authorized vendors and
requisite annual returns are filed with respective State Pollution Control Board.
d. Other waste
All the plants (4 manufacturing sites) and head office generate more of non-hazardous waste (including plastic
waste, paper waste, metal waste, etc.), the majority of which is segregated at the source and sent for responsible
recycling or co-processing.
4. Whether Extended Producer Responsibility (EPR) is applicable to the entity’s activities (Yes / No).
— If yes, whether the waste collection plan is in line with the Extended Producer Responsibility (EPR) plan submitted
to Pollution Control Boards?
— If not, provide steps taken to address the same.
Yes, Colgate-Palmolive (India) Limited is registered as 'Brand Owner' with the Central Pollution Control Board (CPCB)
and the EPR activities are managed centrally. The Company has partnered with two Waste Management Agencies
(WMAs) to collect all the Post Consumer Multi Layered Plastics (MLPs) generated from sale of products. The Company
has achieved plastic positivity in Financial Year 2023-24 by collecting ~107% of the Category I, II and III* type of plastic
that was introduced in the market.
* Category - I refers to Rigid plastic packaging, Category-II refers to flexible plastic packaging of single layer or multilayer (more than one layer with different
types of plastic) and Category-III refers to multilayered plastic packaging (at least one layer of plastic and at least one layer of material other than plastic)
1. Has the entity conducted Life Cycle Perspective / Assessments (LCA) for any of its products (for manufacturing
industry) or for its services (for service industry)? If yes, provide details in the following format
Whether Results
Boundary for which the
Name of % of total conducted by communicated in
life cycle perspective
NIC Code Product / Turnover independent public domain (Yes/No)
/ assessment was
Service Contributed external agency If yes, provide
conducted
(Yes/No) the web-link
N.A.
2. If there are any significant social or environmental concerns and/or risks arising from production or disposal of your
products / services, as identified in the Life Cycle Perspective / Assessments (LCA) or through any other means,
briefly describe the same along-with action taken to mitigate the same:
Description of the
Name of Product/Service Action taken
risk/ concern
N.A.
196
3. Percentage of recycled or reused input material to total material (by value) used in production (for manufacturing
industry) or providing services (for service industry).
Recycled or re-used input material

Indicate input material to total material
FY 2023-24 FY 2022-23
Re-grinded PP Material 1.30% 0.06%
4. Of the products and packaging reclaimed at end of life of products, amount (in metric tonnes) reused, recycled,
and safely disposed, as per the following format.
FY 2023-24 FY 2022-23
Particulars Safely Safely
Re-Used Recycled Re -Used Recycled
Disposed Disposed
Plastics (including - 25,839 11,627 - 3,790 9,638
packaging)
E-waste - - - - - -
Hazardous waste - - - - - -
Other waste - - - - - -
5. Reclaimed products and their packaging materials (as percentage of products sold) for each product category.
Reclaimed products and their packaging materials as % of

Indicate product category
total products sold in respective category
Oral care, toothbrushes and personal care ~107%
Principle 3: Businesses should respect and promote the well-being of all employees, including those in their value chains
1. a. Details of measures for the well-being of employees:
% of employees covered by
Accident Maternity Paternity Day Care
Health insurance
Category Total insurance benefits Benefits facilities
(A) No. No. No. No. No.
% (B/A) % (C/A) % (D/A) % (E/A) % (F/A)
(B) (C) (D) (E) (F)
Permanent employees
Male 589 589 100% 589 100% Nil - 589 100% 589 100%
Female 210 210 100% 210 100% 210 100% Nil - 210 100%
Total 799 799 100% 799 100% 210 26% 589 74% 799 100%
Other than Permanent employees
Male 1,072 1,030 96% 1,022 95% Nil - 49 5% Nil -
Female 601 579 96% 532 89% 601 100% Nil - Nil -
Total 1,673 1,609 96% 1,554 93% 601 36% 49 3% Nil -
197
b. Details of measures for the well-being of workers:
% of workers covered by
Health Accident Maternity Paternity Day Care
Category Total insurance insurance benefits Benefits facilities
(A) No. No. No. No. No.
% (B/A) % (C/A) % (D/A) % (E/A) % (F/A)
(B) (C) (D) (E) (F)
Permanent workers
Male 1,367 1,367 100% 1,367 100% Nil - 717 52% Nil -
Female 55 55 100% 55 100% 55 100% Nil - 55 100%
Total 1,422 1,422 100% 1,422 100% 55 4% 717 50% 55 4%
Other than permanent workers
Male 802 802 100% 802 100% Nil - 192 24% Nil -
Female 215 215 100% 215 100% 194 90% Nil - Nil -
Total 1,017 1,017 100% 1,017 100% 194 19% 192 19% Nil -
c. Spending on measures towards well-being of employees and workers (including permanent and other than
permanent) in the following format -
FY 2023-24 FY 2022-23
Cost incurred on well-being measures as a % of total
0.11% 0.10%
revenue of the company
2. Details of retirement benefits, for the Current FY and Previous Financial Year
FY 2023- 24 FY 2022- 23
No. of No. of Deducted and No. of No. of Deducted and
employees workers deposited employees workers deposited
Benefits
covered as covered as with the covered as covered as with the
a % of total a % of total authority a % of total a % of total authority
employees workers (Y/N/N.A.) employees workers (Y/N/N.A.)
PF 100% 100% Yes 100% 100% Yes
Gratuity 100% 100% Yes 100% 100% Yes
ESI - 10.90% Yes N.A. 22% Yes
Other: Life Insurance / 100% 100% Yes 100% 100% Yes
Death Benefits
3. Are the premises/ offices of the entity accessible to differently-abled employees and workers, as per the
requirements of the Rights of Persons with Disabilities Act, 2016?
Yes, The Company's DE&I Council partnered with key agencies to conduct PwD job mapping as well as facility access
audits to facilitate a comfortable work environment for all. The Company has already modified several locations with
disabled-accessible infrastructure including ramps, furniture, washrooms, and other installations. It is also currently in
the process of incorporating similar measures across all locations.
4. Does the entity have an equal opportunity policy as per the Rights of Persons with Disabilities Act, 2016? If so,
provide a web- link to the policy.
Yes, the Company has an equal opportunity policy that fosters an environment where all our people feel like they can
learn, contribute, and grow. It is the policy and practice of Colgate-Palmolive (India) Limited to comply with all applicable
fair employment practices in line with the Right of Persons with Disabilities Act, 2016. The Company does not indulge in
discrimination of any employee or applicant for employment on the basis of race, color, religion, sex, national origin,
ethnicity, age, disability, veteran status, marital status, sexual orientation, gender identity, or any other characteristic
protected by law.
https://www.colgatepalmolive.com/en-us/who-we-are/our-policies/equal-opportunity-employer-info
198
5. Return to work and retention rates of permanent employees and workers who took parental leave.
Permanent Employees Permanent Workers
Return to work rate Retention rate Return to work rate Retention rate
Male 100% 87% 100% 100%
Female 100% 89% 100% 100%
Total 100% 87% 100% 100%
6. Is there a mechanism available to receive and redress grievances for the following categories of employees and
workers?
Particulars Yes/No (If yes, then give details of the mechanism in brief )
Permanent Yes Colgate-Palmolive (India) Limited believes in ensuring a strong connection with all its
Workers employees and addressing their issues in a timely manner through regular one-on-one
Other than Yes connections. All employees can also utilize the HR Chatbot which is available 24X7 to
Permanent answer queries. The Company also encourages all employees and workers to raise
Workers concerns and feedback through key forums, like the quarterly town hall, where they can
Permanent Yes interact with the leadership team and get answers to their concerns and queries. Global
Employees Ethics and Compliance helpline is implemented for employees to report concerns. The case
Other than Yes once raised is assessed by a trained investigator and basis that a timely and fair resolution
Permanent is provided. Colgate-Palmolive (India) Limited further has a zero-retaliation policy in order
Employees to ensure zero adverse actions against the complainant. For workers, the plant lead or the
Human Resource lead is the nodal point of contact to clarify questions and raise concerns.
7. Membership of employees and worker in association(s) or Unions recognised by the listed entity:
FY 2023-24 FY 2022-23
Total No. of employees / Total No. of employees /
employees workers in respective employees workers in respective
Category / workers in category, who are % / workers in category, who are %
respective part of association(s) (B / A) respective part of association(s) (D/C)
category or Union category* or Union
(A) (B) (c) (D)
Total Permanent 799 Nil - 798 Nil -
Employees
Male 589 Nil - 598 Nil -
Female 210 Nil - 200 Nil -
Total Permanent 1,422 390 27% 1,520 443 29%
Workers
Male 1,367 390 29% 1,464 443 30%
Female 55 Nil - 56 Nil -
*The data for the employees and workers association or union recognition have been revised based on errors identified in the previous report.
8. Details of training given to employees and workers:

FY 2023-24 FY 2022-23
On Health and On Skill On Health and On Skill
Category Total Total
Safety measures Upgradation Safety measures Upgradation
(A) (D)
No. (B) % (B/A) No. (C) % (C/A) No. (E) % (E/D) No. (F) % (F/D)
Employees
Male 589 589 100% 582 99% 598 598 100% 574 95.9%
Female 210 210 100% 204 97% 200 200 100% 171 85.5%
Total 799 799 100% 786 98% 798 798 100% 745 93.3%
Permanent
Employees
GRI 2-4
199
8. Details of training given to employees and workers (cont.)

FY 2023-24 FY 2022-23
On Health and On Skill On Health and On Skill
Safety measures Upgradation Safety measures Upgradation
(A) (D)
No. (B) % (B/A) No. (C ) % (C/A) No. (E) % (E/D) No. (F) % (F/D)
Workers
Male 1,367 1,367 100% 1,367 100% 1,464 1,464 100% 1,464 100%
Female 55 55 100% 55 100% 56 56 100% 56 100%
Total 1,422 1,422 100% 1,422 100% 1,520 1,520 100% 1,520 100%
Permanent
Workers
Note: This data does not include 'other than permanent employees/workers'
9. Details of performance and career development reviews of employees and worker
FY 2023-24 FY 2022-23
Benefits
Total (A) No. (B) % (B/A) Total (C) No. (D) % (D/C)
Employees
Male 589 589 100% 598 598 100%
Female 210 210 100% 200 200 100%
Total 799 799 100% 798 798 100%
Workers*
Male 1,367 977 71% 1,464 1,021 70%
Female 55 55 100% 56 56 100%
Total 1,422 1,032 73% 1,520 1,077 71%
* Workers at Goa manufacturing facility aren’t covered in performance and career development reviews
10. Health and Safety Management System:
a) Whether an occupational health Yes, Colgate-Palmolive (India) Limited has a robust Program to manage occupational health
and safety management system and safety management systems which are implemented and constantly reviewed in
has been implemented by the accordance with regulations, and global internal standards. These programs ensure
entity? If yes, the coverage such minimum safety behavior/ Foundational Safety Expectations, sound occupational health,
system? visible leadership, performance recognition initiatives, labor practices, regulatory
requirements, and compliances, inspections, and self-assessments, audits (internal &
external), and employee engagement.
All Colgate-Palmolive (India) Limited plants and offices including warehouses, offices and
technology centres are covered.
b) What are the processes used to The Company maintains a proactive approach towards risk identification, mitigation, and
identify work-related hazards elimination to avoid any unwarranted safety situations. We have implemented robust
and assess risks on a routine and procedures across the plants pertaining to work, machinery, behavior, and process-related
non-routine basis by the entity? risks which cover all routine and non-routine activities. Our sites conduct risk assessments
and job hazard analysis at regular intervals to identify all current and potential risks. The
scope of these assessments also includes chemical hazards, machine guarding, and
ergonomics, among others.
c) Whether you have processes Yes, All employees, visitors, and contractors are encouraged to report situations, behaviors,
for workers to report work- and conditions that are perceived to be of risk or have hazardous elements. Such situations
related hazards and to remove can be brought to notice through both formal and informal processes. The Company has
themselves from such risks. also implemented several programs that require employees to report "unsafe conditions
and unsafe behavior."
d) Do the employees/workers of Yes, The Company has a medical officer/physician visiting the plant or tie-up with nearby
the entity have access to non- hospitals where each and every employee can consult the doctor for all non-occupational
occupational medical and medical illnesses experienced during working hours. All employees are also covered under
healthcare services? medical insurance.
GRI 403-8
200
11. Details of safety related incidents, in the following format:
Safety Incident/Number Category FY 2023-24 FY 2022-23

Lost Time Injury Frequency Rate (LTIFR) Employees Nil Nil
(per one million-person hours worked) Workers 0.69 0.67
Total recordable work-related injuries Employees Nil Nil
Workers 2 2
No. of fatalities Employees Nil Nil
Workers Nil Nil
High consequence work-related injury or ill-health Employees Nil Nil
(excluding fatalities) Workers Nil Nil
12. Describe the measures taken by the entity to ensure a safe and healthy workplace.
Colgate-Palmolive (India) Limited has laid down Environment Health and Safety Standard Operating Procedures (SOPs)
highlighting the roles and responsibilities of individuals, groups, and committees along with do's and don'ts. Regular job
hazard analysis is performed along with other safety-related risk assessment exercises to identify potential safety
challenges. Internal and external safety audits are carried out as planned to ensure compliance, identify areas of
improvement, and implement appropriate actions, as required to strengthen the safety measures at the workplace. The
Company engages and communicates all Environment, Health and Safety (EHS) expectations through periodic training.
13. Number of Complaints on the following made by employees and workers.
FY 2023-2024 FY 2022-2023
Filed Pending Pending
Particulars Filed during
during the resolution at Remarks resolution at Remarks
the year
year the end of year the end of year
Working Conditions Nil Nil - Nil Nil -
Health & Safety Nil Nil - Nil Nil -
14. Assessments for the year.
Percentage of your plants and offices that were assessed

Particulars
(by entity or statutory authorities or third parties) (%)
Health and safety practices 75%*
Working Conditions 75%*
*100% of the manufacturing facilities underwent an assessment for the working conditions and health and safety practices
15. Provide details of any corrective action taken or underway to address safety-related incidents (if any) and on
significant risks / concerns arising from assessments of health & safety practices and working conditions.
The Company has robust systems in place to proactively address any actual or potential concerns that have the ability to
cause an adverse impact. Colgate-Palmolive (India) Limited has a dedicated process to identify unsafe work conditions
and behavior. The Company encourages its employees and workers to report near-miss incidents, all first aid cases,
recordable accidents, and other work- related illnesses openly and in a timely manner. These complaints (if any) are
thoroughly investigated using tools like root cause analysis to gauge the level and intensity of the concern. Based on the
findings, an appropriate forward action plan is prepared. As a good practice, the Company focuses on timely closure of
the gaps with appropriate actions and follow-ups. Colgate-Palmolive (India) Limited takes a step further to systematically
close all the identified gaps.
201
1. Does the entity extend any life insurance or any compensatory package in the event of death of: (Y/N)?
A) Employees Yes
B) Workers Yes
2. Provide the measures undertaken by the entity to ensure that statutory dues have been deducted and deposited
by the value chain partners:
All our key suppliers undergo routine assessments where compliance with statutory dues is tracked. Currently, there are
no pending complaints of statutory dues not being paid by the suppliers as corroborated by the assessment done by an
independent third-party audit agency.
3. Provide the number of employees/ workers having suffered high consequence work-related injury / ill-health /
fatalities (as reported in Q11 of Essential Indicators above), who have been rehabilitated and placed in suitable
employment or whose family members have been placed in suitable employment.
No. of employees/workers that are

Total no. of affected rehabilitated and placed in suitable
Particulars employees/ workers employment or whose family members
have been placed in suitable employment
FY 2023-24 FY 2022- 23 FY 2023- 24 FY 2022- 23
Employees Nil Nil Nil Nil
Workers Nil Nil Nil Nil
4. Does the entity provide transition assistance programs to facilitate continued employability and the management
of career endings resulting from retirement or termination of employment?
Yes, the Company has associated with a leading counseling partner and WYSA application to provide employee assistance.
We also provide outplacement services to employees on a case-to-case basis as well as retirement benefits to retirees.
5. Details on assessment of value chain partners
% value chain partners (by value of business

Particulars
done with such partners) that were assessed (%)
Health and safety practices
66 suppliers which contribute to 73% of the spending were assessed
Working Conditions
6. Provide details of any corrective actions taken or underway to address significant risks / concerns arising from
assessments of health and safety practices and working conditions of value chain partners.
Based on the SEDEX assessment, a detailed action plan is currently being sought from all the respective suppliers in a
timely manner. The Company diligently tracks actions and publishes corresponding reports to ensure 100% adherence.
Principle 4: Businesses should respect the interests of and be responsive to all its stakeholders
1. Describe the processes for identifying key stakeholder groups of the entity.
Colgate-Palmolive (India) Limited believes in collaborative growth while ensuring value creation for its stakeholders. As a
result, the Company extensively engages with its stakeholders on a regular basis to understand their concerns,
complaints, and suggestions and incorporates them into the decision-making process. Stakeholder groups are identified
on the basis of the impact created by and on them. Having identified such groups, the Company has further prioritized
the stakeholders' basis of their criticality to business in terms of the level of influence, responsibility, and dependence.
202
2. List stakeholder groups identified as key for your entity and the frequency of engagement with each stakeholder
group.
Channels of Frequency of
Whether communication (Email, engagement Purpose and scope
identified as SMS, Newspaper, (Annually/ Half of engagement
Stakeholder
vulnerable & Pamphlets, Advertisement, yearly/ including key topics and
group
marginalized Community Meetings, Quarterly / concerns raised during
group (Yes/No) Notice Board, Website), others – please such engagement
Other specify)
Shareholders No Newsletters, letters, newspaper Quarterly and Communication on
publications, emails, annual Annually financial performance,
reports, and website growth perspective, and
any other material
information
Employees No Email, townhall, Monthly and Communication on
departmental meetings, Quarterly occupational health and
conferences safety, human rights, new
Contractual Yes Meetings and Notice board Quarterly products, Company
workers (Women and low strategy, policy changes,
economic status) among others
Vendors and No Emails and meetings Need based Communication on
suppliers (However, we do materials, services, pricing
have certain MSME and commodities' trends
supply partners)
Retailers No SMS, Newspaper, Monthly Communication on new
advertisements, pamphlets launches, schemes and
retailer engagement
programs
Communities Yes NGO networks, Community Monthly Understand challenges,
(Tribal, rural, meetings and focus group derive suitable solutions
women, low discussions and discuss scope for
economic groups) improvements
NGOs No Review meetings Bi-Monthly Understand challenges,
review fund utilisation,
testimonials and scope for
Improvements
1. Provide the processes for consultation between stakeholders and the Board on Economic, Environmental and Social
topics or if consultation is delegate how is feedback from such consultations provided to the Board?
The Company firmly believes that stakeholder engagement is critical for building long-term relationships and identifying
potential risks and opportunities. Colgate-Palmolive (India) Limited has established various channels to engage with the
identified stakeholders on issues pertaining to Economic, Environmental, and Social topics. The relevant information
is shared with the ESG and Corporate Social Responsibility Committee (ECC) and Board of Directors on a regular basis.
The Committee is responsible for recognizing and addressing all ESG risks and impacts, reviewing policies to improve
processes, and accelerating communication channels to balance the interests of key stakeholders.
203
2. Whether stakeholder consultation is used to support the identification and management of environmental, and
social topics. Yes
If so, provide details of instances as to how the inputs received from stakeholders on these topics were incorporated
into the policies and activities of the entity.
The stakeholder consultation and materiality assessment exercise is leveraged to identify the impacts of business
activities, operations, and the external environment on the economy, environment, and stakeholders. It enables the
Company to enhance its understanding of the relative significance of various impacts and their influence over Colgate-
Palmolive (India) Limited's value creation business model. The materiality assessment, guided by the GRI 2021
standards, is a systematic 5-step approach that provides a holistic overview of prioritized material topics and reflects
the Company's efforts to ensure stakeholder inclusivity in decision-making.
For more details, please refer 'Stakeholder-inclusive Materiality Assessment' section of the Annual and ESG Report for
Financial Year 2023-24.
3. Provide details of instances of engagement with, and actions taken to, address the concerns of vulnerable/
marginalized stakeholder groups.
All CSR initiatives are implemented based on district specific local need assessments, and interventions are planned in
alignment with local government bodies and communities. We regularly engage with the end beneficiaries through SHG
strengthening, training, and upskilling to enhance income, our programs range from oral health education, and digital
and financial literacy to water and waste management.
Principle 5: Businesses should respect and promote human rights
1. Employees and workers who have been provided training on human rights issues and policy(ies) of the entity, in
the following format:
FY 2023-24 FY 2022-23
Category No. employees/ No. employees/
Total (A) % (B/A) Total (C) % (D/C)
workers covered (B) workers covered (D)
Employees
Permanent 799 799 100% 798 798 100%
Other than permanent 1,673 1,673 100% 1,382 1,382 100%
Total Employees 2,472 2,472 100% 2,180 2,180 100%
Workers
Permanent 1,422 1,422 100% 1,520 1,520 100%
Other than permanent 1,017 1,017 100% 684 684 100%
Total workers 2,439 2,439 100% 2,204 2,204 100%
2. Details of minimum wages paid to employees and workers, in the following format:
FY 2023-24 FY 2022-23
Equal to More than Equal to More than
minimum wage minimum wage minimum wage minimum wage
(A) (D)
Permanent employees
Male 589 Nil - 589 100% 598 Nil - 598 100%
Female 210 Nil - 210 100% 200 Nil - 200 100%
Total 799 Nil - 799 100% 798 Nil - 798 100%
204
2. Details of minimum wages paid to employees and workers, in the following format (cont.)
FY 2023-24 FY 2022-23
Equal to More than Equal to More than
minimum wage minimum wage minimum wage minimum wage
(A) (D)
Other than permanent employees
Male 1,072 2 0.19% 1,070 99.81% 1,070 Nil - 1,070 100%
Female 601 Nil - 601 100% 312 Nil - 312 100%
Total 1,673 2 0.12% 1,671 99.88% 1,382 Nil - 1,382 100%
Permanent workers
Male 1,367 Nil - 1,367 100% 1,464 Nil - 1,464 100%
Female 55 Nil - 55 100% 56 Nil - 56 100%
Total 1,422 Nil - 1,422 100% 1,520 Nil - 1,520 100%
Other than permanent workers
Male 802 264 32.92% 538 67.08% 554 Nil - 554 100%
Female 215 23 10.70% 192 89.30% 130 Nil - 130 100%
Total 1,017 287 28.22% 730 71.78% 684 Nil - 684 100%
3. a. Details of remuneration/salary/wages, in the following format.
Male Female
Median remuneration/ Median remuneration/
Particulars
Number salary/ wages of Number salary/ wages of
respective category (J) respective category (J)
Board of Directors (BoD)* 2 4,33,47,938 1 9,17,02,013
Key Managerial Personnel 2 4,33,47,938 1 9,17,02,013
Employees other than 587 18,60,432 209 21,22,620
BoD and KMP
Workers 1,367 5,41,920 55 2,75,154
* Only the BoD on Company's payroll are considered.
b. Gross wages paid to females as % of total wages paid by the entity, in the following format:

Gross wages paid to females as % of total wages 21.86% 19.88%
4. Do you have a focal point (Individual/ Committee) responsible for addressing human rights impacts or issues caused
or contributed to by the business?
Yes, the Company has instituted a robust and efficient grievance mechanism with a defined escalation matrix. At the
apex, we have the Leadership Team, comprising functional heads, which ensures efficacious oversight of human rights
compliance. In order to further propel the agenda, a Human Rights Leader is constituted who is centrally responsible for
addressing potential violations and issues caused or contributed by the Company/partners/suppliers. The on-ground
implementation is driven by Human Rights Champions who consolidate and communicate information which enables
informed decisions that focus on cascading human rights complianceacross the Company's length and width.
5. Describe the internal mechanisms in place to redress grievances related to human rights issues.
Colgate-Palmolive (India) Limited encourages all employees to raise concerns and report any situation which they deem
is in contravention of the Code of Conduct or the law. Diverse formal and informal channels such as dedicated email,
web tools, internal helpline and Colgate-Palmolive (India) Limited mobile app are available to report potential incidents
to the Manager, Human Resources, Global Ethics and Compliance or the Global Legal Organization.
205
Additionally, manufacturing facilities are equipped with platforms such as workers committee meetings which
encourage employees and workers to share ideas, and grievances through plant performance reviews and suggestion
schemes including employee welfare.
Colgate-Palmolive (India) Limited has an Internal Committee (IC) which overlooks the Prevention of Sexual Harassment
and has representation from all different plants and branches. Any case that is raised is thoroughly and confidentially
investigated. If found guilty, appropriate action is taken against the accused.
6. Number of Complaints on the following made by employees and workers:
FY 2023-24 FY 2022-23
Filed Pending Filed Pending
Category
during resolution at Remarks during resolution at Remarks
the year the end of year the year the end of year
Sexual Harassment 1 Nil Complaint 2 Nil -
resolved
Discrimination at workplace Nil N.A. - Nil N.A. -
Child Labour Nil N.A. - Nil N.A. -
Forced/ Involuntary Labour Nil N.A. - Nil N.A. -
Wages Nil N.A. - Nil N.A. -
Other human rights related -
Nil N.A. - 1 N.A.
issues
7. Complaints filed under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act,
2013, in the following format:

Total Complaints reported under Sexual Harassment on of Women at 1 2
Workplace (Prevention, Prohibition and Redressal) Act, 2013 (POSH)
Complaints on POSH as a % of female employees / workers 0.38% 0.78%
Complaints on POSH upheld 1 2
8. Mechanisms to prevent adverse consequences to the complainant in discrimination and harassment cases.
Colgate-Palmolive (India) Limited upholds the values of trust, transparency, and respect across all internal and external
interactions. The Company safeguards the privacy of all discrimination and harassment cases through a stringent zero-
retaliation policy which ensures no adverse action is taken against an individual for complaining, reporting, participating,
or assisting in an investigation. We strongly believe that individuals should be able to raise concerns without the fear of
retaliation. Any violations against the policy are investigated by the relevant committee and appropriate remedial action
is undertaken. We ensure regular communication to increase awareness regarding ethics and compliance issues, relevant
policies, and available mechanisms that can be availed to raise concerns about retaliation.
9. Do human rights requirements form part of your business agreements and contracts?
Yes, our Human Rights Policy is an integral component of all agreements and contracts that are entered by the Company.
10. Assessments for the year:
% of your plants and offices that were assessed

Particulars (by entity or statutory authorities or third parties)
Child Labour
Forced/ involuntary Labour
Sexual harassment 100%
Discrimination at workplace
Wages
206
11. Provide details of any corrective actions taken or underway to address significant risks/concerns arising from the
assessments at Question above.
During the assessment, there were no concerns observed.
1. Details of a business process being modified/introduced as a result of addressing human rights grievances/
complaints:
Although no instances were observed that required modification of the existing process, we continually monitor and
remain vigilant for any potential need for modification.
2. Details of the scope and coverage of any Human rights due diligence conducted:
Human Rights Due Diligence is carried out for all direct business operations including manufacturing plants, sales
branch offices, and Head Office. Our due diligence process assesses human rights risks in freedom of association,
health & safety, child labor, forced labor, discrimination & harassment, diversity & inclusion, and wages & working
hours. For suppliers and third-party vendors, Colgate-Palmolive (India) Limited's Supplier Responsible Sourcing.
Assessment (SRSA) program assesses risks across human rights, health and safety, ethics, and legal aspects.
3. Is the premise/ office of the entity accessible to differently-abled visitors, as per the requirements of the Rights
of Persons with Disabilities Act, 2016?
Yes, the Company has undertaken an access audit to determine the level of modifications required for upgrading
infrastructure in line with the needs of PwD individuals. In certain locations of Colgate-Palmolive (India) Limited, office
premises and infrastructure are modified to enable a comfortable working environment for differently abled visitors
and employees.
4. Details on assessment of value chain partners.
% of value chain partners (by value of business done with

Particulars
such partners) that were assessed
Sexual Harassment 73%
Discrimination at workplace 73%
Child Labour 73%
Forced Labour/Involuntary Labour 73%
Wages 73%
Note: 66 suppliers, which contribute to 73% of spends, have been assessed as per the SRSA Standard
5. Provide details of any corrective actions taken or underway to address significant risks/concerns arising from the
assessments at Question above.
All assessments are supported with the follow-up action plan and compliance, which are updated on the SEDEX website.
Adherence to the closure of all plans and compliances are monitored regularly by the Colgate-Palmolive central team
based out of the US office of the Parent Company.
207
Principle 6: Businesses should respect and make efforts to protect and restore the environment
1. Details of total energy consumption (in Joules or multiples) and energy intensity, in the following format.
Parameter Unit FY 2023-24 FY 2022-23

From Renewable Sources
Total electricity consumption (A) GJ 39,894.06 11,884.28*
Total fuel consumption (B) GJ Nil Nil
Energy consumption through other sources (C) GJ Nil Nil
Total energy consumed from renewable sources (A+B+C) GJ 39,894.06 11,884.28*
From Non-Renewable Sources
Total electricity consumption (D) GJ 1,42,876.80 1,72,998.46*
Total fuel consumption (E) GJ 39,875.25 40,653.86
Energy consumption through other sources (F) GJ Nil Nil
Total energy consumed from Non-renewable sources (D+E+F) GJ 1,82,752.05 2,13,652.33*
Total energy consumed (A+B+C+D+E+F) GJ 2,22,646.11 2,25,536.60
Energy intensity per rupee of turnover (Total energy GJ/ 0.39 0.43*
consumed/ Revenue from operations) H Lakhs
Energy intensity per rupee of turnover adjusted for Purchasing NA NA
Power Parity (PPP) (Total energy consumed/ Revenue from
operations adjusted for PPP)
Energy intensity in terms of physical output GJ/ tonne of 1.69 1.74*
production
Energy intensity (optional) - the relevant metric may be NA NA
selected by the entity
Note : Indicate if any independent assessment/ evaluation/assurance has been carried out by an external agency.
(Y/N) If yes, the name of the external agency. Yes, M/s. DNV Business Assurance India Private Limited
2. Does the entity have any sites/facilities identified as designated consumers (DCs) under the Performance,
Achieve, and Trade (PAT) Scheme of the Government of India? No
If yes, disclose whether targets set under the PAT scheme have been achieved. In case targets have not been
achieved, provide the remedial action taken, if any. N.A.
3. Provide details of the following disclosures related to water, in the following format.
Parameter FY 2023-24 FY 2022-23
Water withdrawal by source (in kilolitres)
i) Surface Water Nil Nil
ii) Ground Water 84,490.43 95,876.00
iii) Third Party Water 1,42,413.00 1,33,884.00
iv) Seawater/ desalinated water Nil Nil
v) Others 12,945.29 8,209.00
Total Vol of Water Withdrawn (i + ii + iii + iv + v) 2,39,848.72 2,37,969.00
Total Vol of Water consumption (in kilolitres) 1,40,751.49 1,01,350.30*
Water intensity per rupee of turnover (Water consumed/ turnover) 0.25 0.20*
Water intensity per rupee of turnover adjusted for Purchasing Power Parity NA NA
(PPP) (Total water consumption/ Revenue from operations adjusted for PPP)
Water intensity in terms of physical output (Water consumed/ tonne of 1.07 0.78*
production)
Water intensity (optional) the relevant metric may be selected by the entity NA NA
Note: Indicate if any independent assessment/ evaluation/assurance has been carried out by an external agency.
(Y/N) If yes, the name of the external agency. Yes, M/s. DNV Business Assurance India Private Limited
*Energy consumption, water consumption details and Intensity calculation have been corrected based on error identified in the previous report
GRI 302-3, GRI 2-4, GRI 303-3
208
4. Provide the following details related to water discharged:

Water discharge by destination and level of treatment (in kilolitres)
(i) Into Surface water
- No treatment Nil Nil
- With treatment (please specify level of treatment) Nil Nil
(ii) To Groundwater
(iii) To seawater
(iv) Sent to third parties
- No treatment 9,288.00 17,071.00
- With treatment (Secondary Treatment) 19,252.70 51,335.00
(v) Others
- No treatment 6,501.00 Nil
- With treatment (Tertiary Treatment) 64,055.52 68,212.70
Total water discharged (in kilolitres) 99,097.22 1,36,618.70
(Y/N) If yes, the name of the external agency. Yes , M/s. DNV Business Assurance India Private Limited
5. Has the entity implemented a mechanism for Zero Liquid Discharge?
Yes, the manufacturing sites located at Sanand and Goa recycle and reuse 100% of the wastewater generated within
the premises. The treated water is used for gardening, toilet flushing, and utilities.
The Baddi manufacturing site treats 100% of the wastewater, which is further sent to a common industrial wastewater
treatment plant as per the mandatory requirement in its consent to operate.
The Sri City manufacturing site and Head office recycle some water as per the norms stipulated by the local
government. The recycled water is used for gardening purposes.
If yes, Provide details of its coverage and implementation.
All sites of the company are covered to showcase its efforts toward ensuring zero liquid discharge outside the site
boundary.
6. Please provide details of air emissions (other than GHG emissions) by the entity, in the following format.
NOx Kg 8,283.30 5,760.41*

SOx Kg 624.16 931.39*
Particulate matter (PM) Kg 2,048.86 1,832.30*
Persistent organic pollutants (POP) Nil Nil
Volatile organic compounds (VOC) Nil Nil
Hazardous air pollutants (HAP) Nil Nil
Others - please specify Nil Nil
*Total NOx, SOx and PM data have been corrected based on errors identified in the previous report
(Y/N) If yes, name of the external agency.
Yes. M/s. DNV Business Assurance India Private Limited and Government-authorized agencies carry out monitoring in
every state as per SPCB norms.
GRI 2-4, GRI 303-4
209
7. Provide details of greenhouse gas emissions (Scope 1 and Scope 2 emissions) & its intensity, in the following format.

Total Scope 1 emissions Metric tonnes of CO2 4,859.92 3,378.20
(tCO2e) equivalent
Total Scope 2 emissions Metric tonnes of CO2 28,416.61 34,119.14*
(tCO2e) location-based equivalent
Total Scope 2 emissions (tCO2e) market-based - -
Total Scope 1 and Scope 2 emissions per (tCO2e/INR Lakhs) 0.06 0.07
rupee of turnover
Total Scope 1 and Scope 2 emission intensity per rupee NA NA
of turnover adjusted for Purchasing Power Parity (PPP)
(Total Scope 1 and Scope 2 GHG emissions / Revenue
from operations adjusted for PPP)
Total Scope 1 and Scope 2 emission intensity in terms (tCO2e/tonne 0.25 0.29*
of physical output of production)
Total Scope 1 and Scope 2 emission intensity (optional) NA NA
the relevant metric may be selected by the entity
*Scope 2 emission and Emission Intensity data have been corrected based on errors identified in the previous report
8. Does the entity have any project related to reducing Green House Gas emissions?
In addition to CNG piped gas at Goa and Sanand sites, Baddi site also started using CNG piped gas to further reduce
CO2 emissions. Sricity and Sanand sites have onsite Solar power generating plants. All the sites use environment-
friendly refrigerants. The Company ensures that all new machines and equipment are energy-efficient and has
replaced old equipment with energy- efficient equipment thereby optimizing energy usage and striving to reduce the
carbon footprint of the product.
9. Provide details related to waste management by the entity, in the following format.

Total Waste generated (in metric tonnes)
Plastic waste (A) 2,174.01 2,452.64*
E-waste (B) 6.21 10.89
Bio-medical waste (C) 9.41 9.42
Construction and demolition waste (D) Nil Nil
Battery waste (E) 14.78 24.78
Radioactive waste (F) Nil Nil
ETP Sludge (G) 504.34 519.28
Other Hazardous waste (H): Other 3.90 Nil
Other Non-hazardous waste generated (I): Spent oil 7.16 5.41
Other Non-hazardous waste generated (I): Waste cream 656.77 559.02
Other Non-hazardous waste generated (I): Others 2,700.71 2,749.21*
Total (A+B+C+D+E+F+G+H+I) 6,077.29 6,330.65*
Waste intensity per rupee of turnover 0.01 0.01
(Total waste generated / Revenue from operations)
Waste intensity per rupee of turnover adjusted for Purchasing Power NA NA
Parity (PPP)
(Total waste generated / Revenue from operations adjusted for PPP)
Waste intensity in terms of physical output 0.05 0.05
(Total waste generated/Tonne of production)
Waste intensity (optional) - NA NA
*Quantities of Other Non-hazardous waste and plastic waste have been corrected based on error identified in the previous report
GRI 2-4, GRI 305-4, GRI 306-3
210
9. Provide details related to waste management by the entity, in the following format. (cont.)
For each category of waste generated, total waste recovered through recycling, re-using or other recovery
operations (in metric tonnes)
Category of Waste
(i) Recycled# 3,691.72 4,498.97
(ii) Re-used## 2,323.65 1,812.97
(iii) Other recovery operations Nil Nil
Total 6,015.37 6,311.94
For each category of waste generated, total waste disposed by nature of disposal method (in metric tonnes)
Category of waste
(i) Incineration### 43.17 9.42
(ii) Landfilling#### 18.71 9.50
(iii) Other disposal operations Nil Nil
Total 61.88 18.92
#
Recycled waste include waste from recyclable plastic waste, waste cream, foodwaste, ETP sludge waste and other non-Hazardous waste disposed off
as per the CTO received from the regional authorities
##
Reused waste include waste from food waste and other non-hazardous waste disposed off as per the CTO received from the regional authorities
###
Incineration was performed for the waste such as hazardous waste, biomedical waste and other non-hazardous wastes as per the CTO received from
the regional authorities.
####
Landfill was performed for the waste such as ETP waste, Food waste and other non-hazardous wastes as per the CTO received from the regional
authorities.
(Y/N) If yes, the name of the external agency. Yes , M/s. DNV Business Assurance India Private Limited
10. Briefly describe the waste management practices adopted in your establishments. Describe the strategy adopted by
your company to reduce the usage of hazardous and toxic chemicals in your products and processes and the practices
adopted to managesuch wastes.
The Company disposes all hazardous waste only to government-approved waste management agencies. All batteries are
sent to Pollution Control Board authorized manufacturers only as part of the buy-back program. Colgate-Palmolive (India)
Limited endeavors to optimize the product development process and decrease the use of raw materials which are then
disposed of as hazardous waste. Additionally, to reduce dependence on chemicals, the Company has installed efficient
equipment for laboratory testing.
11. If the entity has operations/offices in/around ecologically sensitive areas (such as national parks, wildlife sanctuaries,
biosphere reserves, wetlands, biodiversity hotspots, forests, coastal regulation zones, etc.) where environmental
approvals/clearances are required, please specify details in the following format:
Whether the conditions of environmental approval

Location of operations/offices Type of operations /clearance are being complied with? (Y/N) If no,
the reasons thereof and corrective action taken, if any.
Nil
12. Details of environmental impact assessments of projects undertaken by the entity based on applicable laws, in the
current financial year:
Whether conducted by Results communicated

Name and brief details of EIA Notification Relevant
Date independent external in public domain
project No. web link
agency (Yes / No) (Yes / No)
Nil
GRI 2-4
211
13. Is the entity compliant with the applicable environmental law/ regulations/ guidelines in India, such as the Water
(Prevention and Control of Pollution) Act, Air (Prevention and Control of Pollution) Act, Environment Protection
Act and rules thereunder (Y/N). If not, provide details of all such non-compliances, in the following format:
Specify the law / regulation Provide details Any fines / penalties / action taken by regulatory Corrective
/ guidelines which was not of the non- agencies such as pollution control boards action taken,
complied with compliance or by courts if any
All the Colgate- Palmolive (India) Limited manufacturing sites are compliant to all the mentioned norms
1. Water withdrawal, consumption, and discharge in areas of water stress (in kilolitres) : For each facility/plant located
in areas of water stress, provide the following information:
(i) Name of the area
Country: India
City: Sri City (Andhra Pradesh), Sanand (Gujarat), and Baddi (Himachal Pradesh)
These areas have been identified as water stress areas based on World Resources Institute (WRI) aqueduct tool
(ii) Nature of operations: Manufacturing
(iii) Water withdrawal, consumption and discharge in the following format:

Water withdrawal by source (in kiloliters)
(i) Into Surface water Nil Nil
(ii) Groundwater 62,997.00 70,703.00
(iii) Third party water 1,05,897.00 1,04,312.00
(iv) Seawater / desalinated water Nil Nil
(v) Others 7,641.29 Nil
Total volume of water withdrawal (KL) 1,76,535.29 1,75,015.00
Total volume of water consumption (KL) 1,12,620.59 74,315.30*
Water intensity per rupee of turnover 0.20 0.14*
(Water consumed / turnover)
Water intensity (optional) N.A. N.A.
Water discharge by destination and level of treatment (in kiloliters)
(i) Into Surface water
(ii) Into Groundwater
(iii) Into Seawater
(iv) Sent to third-parties
- No treatment 9,288.00 9,069.00
- With treatment (Secondary Treatment) 19,252.70 51,335.00
(v) Others
- With treatment (Tertiary Treatment) 35,374.00 40,295.70
Total water discharged (KL) 63,914.70 1,00,699.70
Indicate if any independent assessment/ evaluation/assurance has been carried out by an external agency.
Yes, M/s. DNV Business Assurance India Private Limited
*Water consumption details and Intensity calculation have been corrected based on error identified in the previous report
GRI 2-4
212
2. Please provide details of total Scope 3 emissions & its intensity, in the following format:
Colgate-Palmolive (India) Limited is currently in the process of setting up a system to record and quantify its Scope 3
emissions and will report on it in the upcoming years.

Total Scope 3 emissions Metric tonnes - -
(Break-up of the GHG into CO2 , CH4 , N2O, HFCs, of CO2
PFCs, SF6 , NF3 , if available) equivalent
Total Scope 3 emissions per rupee of turnover - -
Total Scope 3 emission intensity (optional) - - -
Note: Indicate if any independent assessment/ evaluation/assurance has been carried out by an external agency -
No
3. With respect to the ecologically sensitive areas reported in Question of Essential Indicators above, provided
details of the significant direct & indirect impact of the entity on biodiversity in such areas along with prevention
and remediation activities.
N.A.
4. If the entity has undertaken any specific initiatives or used innovative technology or solutions to improve resource
efficiency, or reduce impact due to emissions/ effluent discharge/waste generated, please provide details of the
same as well as the outcome of such initiatives, as per the following format.
Details of the initiative

Initiative undertaken (web-link, if any, may be provided Outcome of the initiative
along-with summary)
HVAC Blower replacement Replacement of conventional blowers of Energy reduction by 1,954 KWH
with Axial Blower AHU with Energy efficient Axial Blowers per month
HVAC Duct Sealing- T&L Identifying & Sealing of HVAC duct Saving of 1,222 KWH per month
through Industrial experts
Smart Chiller Controling the cooling tower water Saving of 4,735 KWH per month
with respect to the AHU load and
approach temperature
Energy-efficient LED lights Replaced lighting fixtures with Higher Saving of 4,009 KWH per month
efficiency LED lighting
AHU Condensate collection Collection of Condensate generated Saving of 29 KL of water per month
from AHU
213
Details of the initiative

Initiative undertaken (web-link, if any, may be provided Outcome of the initiative
along-with summary)
Rainwater Collection Collection of roof rain water in Tank Saving of 31 KL of water per month
Decarbonisation / Energy Replaced Vaine type vacuum pump with Energy Saved in 2023 (Jun - Dec) =
Conservation Screw type vacuum pump with VFD by 12,098.9 KWH Savings in INR = INR
Goa Plant 90,136.9. CO2 Reduction = 72.58 kg CO2
Other Benefits: # Demand control based
on line loading. And constant vacuum
maintained at lines
Decarbonisation / Energy Baddi site replaced existing conventional This retro fitment resulted in energy
Conservation Blowers of AHU (Air handling Units) saving of 60,000 KWh/year.
with Electronically Commutated Fans
Water Conservation Baddi site reused the back wash water Saved approx. 9,000 KL/yr of water in
of Multigrade filter used before the utilities operations. Also avoided
RO system. treatment cost of the same at CETP by
H 1.3 lakhs
5. Does the entity have a business continuity and disaster management plan? Give details in 100 words/ web link.
Yes, all manufacturing sites have a comprehensive Business Continuity Plan (BCP) and disaster management plan to
effectively manage any emergency, disaster, or crisis. The identified risks and the corresponding remedial actions are
covered in the plan. A line of command and procedure to be followed is established. The resilience of these plans under
different disruption scenarios is tested on an ongoing basis. The Company has also ensured that each site can also
produce products from other locations in case of any production delay, disruption, or local disaster.
6. Disclose any significant adverse impact to the environment, arising from the value chain of the entity. What
mitigation or adaptation measures have been taken by the entity in this regard?
No, adverse impacts are identified to the environment arising from the value chain. All plants have a comprehensive
Business Continuity Plan in case of any adverse impacts or disasters. Moreover, the Company has Enhanced Supplier
Management (ESM) processes in place. ESM is the Company's global audit and risk assessment process to identify
potential risks and ensure preventive and mitigation measures to ensure minimal damage.
7. Percentage of value chain partners (by value of business done with such partners) that were assessed for
environmental impacts.
66 Suppliers which contribute to 73% of the spending.
214
Principle 7: Businesses, when engaging in influencing public and regulatory policy, should do so in a manner that is
responsible and transparent
1. (a) Number of affiliations with trade and industry chambers/ associations.
14
(b) List the top 10 trade and industry chambers/ associations (determined based on the total Members of such body)
the entity is a Member of/ affiliated to.
Reach of trade and industry

Name of the trade and industry chambers/ associations chambers/ associations
(State/National)
Federation of Indian Chambers of Commerce and Industry - FICCI National
The Associated Chambers of Commerce and Industry of India - ASSOCHAM National
American Chamber of Commerce in India - AMCHAM National
Indian Beauty & Hygiene Association - IBHA National
Confederation of Indian Industry - CII WESTERN REGION National
The Advertising Standards Council of India - ASCI National
Bombay Chamber of Commerce and Industry - BCCI State
Ayurvedic Drug Manufacturer's Association - ADMA National
Indian Society of Advertisers - ISA National
Confederation of Indian Industry - CII National Medical Technology National
2. Provide details of corrective action taken or underway on any issues related to anti-competitive conduct by the
entity, based on adverse orders from regulatory authorities.
Name of authority Brief of the case Corrective action taken

Nil
1. Details of public policy positions advocated by the entity
Whether Frequency of review

information by Board
Method resorted available (Annually/ Half Web link
Public policy advocated
for such advocacy in public yearly/ Quarterly if available
domain? / Others - please
(Yes / No) specify)
Colgate-Palmolive (India) The Company Yes Annually https://www.colg
Limited pursues its advocacy makes written ateinvestors.co.in
agenda independently and submissions /media/2938/pub
also through trade and participates in lic- policy-
associations such as CII, FICCI meetings (virtually advocacy.pdf
and IBHA. The topics covered and in person)
under these initiatives include through delegations
notifications and circulars as per the
under Data Privacy requirements for
Laws, Drugs & Cosmetics Act, better expression of
Legal Metrology Laws, Bureau concerns and
Of Indian Standards etc. viewpoints
GRI 2-28, GRI 206-1
215
Principle 8: Businesses should promote inclusive growth and equitable development
1. Details of Social Impact Assessments (SIA) of projects undertaken by the entity based on applicable laws, in the
current financial year.
Whether Results
SIA conducted by communicated
Date of Relevant
Name and brief details of project Notification independent in public
Notification web link
No. external agency? domain?
(Yes / No) ( Yes / No )
Keep India Smiling: Scholarship Yes Yes
Program
Smile for Life: Cleft Surgeries Yes Yes
for Children
Water Augmentation & Women Yes Yes
Empowerment Program
2. Provide information on project(s) for which ongoing Rehabilitation and Resettlement (R&R) is being undertaken by
your entity:
No. of Project Amounts paid to

Name and brief % of PAFs
State District Affected PAFs in the FY
details of project covered by R&R
Families (PAFs) (in J)
N.A.
3. Describe the mechanisms to receive and redress grievances of the community.

The Company extensively engages with the community on a regular basis during annual program reviews, community
meetings, and focused group discussions. These exercises provide a platform for any individual or group to raise their
concerns. All meetings between the CSR representatives and teams along with NGOs and communities are recorded in
a structured manner to gauge impacts, strengths, challenges, and scope for improvement.
4. Percentage of input material (inputs to total inputs by value) sourced from suppliers
Particulars 2023-2024 2022-2023

Directly sourced from MSMEs/ small producers 8.35% 8.38%
Sourced directly from within the district and neighbouring districts 39% 39%
5. Job creation in smaller towns - Disclose wages paid to persons employed (including employees or workers employed
on a permanent or non-permanent / on contract basis) in the following locations, as % of total wage cost
Location 2023-2024 2022-2023

Rural - -
Semi-Urban 24.60% 23.36%
Urban 24.31% 24.46%
Metropolitan 51.10% 52.18%
1. Provide details of actions taken to mitigate any negative social impacts identified in the Social Impact Assessments
(Reference: Question 1 of Essential Indicators above)
Details of negative social impact identified Corrective Actions Taken

No negative impacts have been identified
GRI 401-1
216
2. Provide the following information on CSR projects undertaken by your entity in designated aspirational districts as
identified by government bodies
State Aspirational District Amount spent INR

Andhra Pradesh Visakhapatnam, Vizianagaram 40,30,000
Gujarat Morbi 75,000
Himachal Pradesh Chamba 1,50,000
Karnataka Gadag 50,000
Maharashtra Aurangabad, Washim, Jalgaon, Nandurbar, Gadchiroli 16,21,200
Telangana Adilabad, Khammam 90,000
Uttar Pradesh Balrampur 15,000
West Bengal Krishnanagar, Nadia 33,90,000
Tamil Nadu Ramanathapuram, Virudhunagar 28,07,025
3. a. Do you have a preferential procurement policy where you give preference to purchase from suppliers comprising
marginalized/vulnerable groups? : No
b. From which marginalized/vulnerable groups do you procure? : None
c. What percentage of total procurement (by value) does it constitute? : N.A.
4. Details of the benefits derived and shared from the intellectual properties owned or acquired by your entity (in the
current financial year), based on traditional knowledge
Intellectual Property based on Owned/ Acquired Benefit shared Basis of calculating

traditional knowledge (Yes/No) (Yes/No) benefit share
N.A.
5. Details of corrective actions taken or underway, based on any adverse order in intellectual property related disputes
wherein usage of traditional knowledge is involved
Name of authority Brief of the Case Corrective action taken

Nil
6. Details of beneficiaries of CSR Projects
No. of persons
% of beneficiaries from vulnerable and marginalized
Particulars benefitted from
groups
CSR Projects
Bright Smiles, Bright Futures® 52,01,083
(Improve oral health through
education and awareness
amongst children)
Keep India Smiling 31,729
(Promote Education, Women 95%
Empowerment and support District-
specific developmental needs)
Water & Waste Management 1,39,705
(Environmental Sustainability and
Livelihoods Program)
217
Principle 9:
1. Describe the mechanisms in place to receive and respond to consumer complaints and feedback.
Colgate-Palmolive (India) Limited follows a consumer-first approach and believes that close communication is the key to
building long- term relationships. The Company has established several channels of communication for the consumer to
communicate their grievance/ concerns to the Company. This includes the Company Website, social media platforms
(including WhatsApp), and formal contact details (phone number and email ID) on the product label.
The complaints are addressed by a dedicated team which ensures that all the complaints are resolved in an efficient and
timely manner. The Company has a robust system to document all the recorded complaints/concerns using a validated and
compliant consumer data management system. Any instance of consumer dissatisfaction is further handled in accordance
with the Company's consumer satisfaction policy.
2. Turnover of products and/ services as a percentage of turnover from all products/services that carry information about:
Colgate-Palmolive (India) Limited is committed to ensuring information regarding various environmental, safety and social
aspects is provided to its consumers through all its products. These aspects are covered on its packaging across the portfolio.
Particulars As a percentage to total turnover

Environmental and social parameters relevant to the product 100%
Safe and responsible usage 100%
Recycling and/or safe disposal 100%
3. Number of consumer complaints in respect of the following.
FY 2023-24 FY 2022-23
Pending Pending
Received Received
Category resolution Remarks resolution Remarks
during during
at end of at end of
the year the year
year year
Data privacy Nil - The Company Nil - The Company
Advertising Nil - receives and resolves Nil - receives and resolves
Cyber-security Nil - all consumer queries Nil - all consumer queries
Delivery of Nil - in a timely and Nil - in a timely and
essential services efficient manner. efficient manner.
Restrictive Trade Nil - In FY 2023-24 there Nil - In FY 2022-23 there
Practices were no complaints were no complaints
Unfair Trade Nil - reported in respect Nil - reported in respect of
Practices of the identified the identified
Other Nil - matters. Nil - matters.
4. Details of instances of product recalls on account of safety issues:
Number Reason for recall

Voluntary recalls Nil N.A.
Forced recalls Nil N.A.
5. Does the entity have a framework/ policy on cyber security and risks related to data privacy?
Yes, the Company has a global cybersecurity policy which is available on the intranet to all its employees. The policy
establishes a well-defined escalation process that employees can follow in case of suspicious behavior. The Company
also places the utmost priority on safeguarding customer privacy as reflected in the consumer privacy policy. This
policy outlines responsible practices related to customer data, their rights, and privacy mechanisms.
218
If available, provide a web link to the policy.

https://www.colgatepalmolive.co.in/legal-privacy-policy
6. Provide details of any corrective actions taken or underway on issues relating to advertising, and delivery of
essential services; cyber security and data privacy of customers; re-occurrence of instances of product recalls;
penalty/action taken by regulatory authorities on safety of products/services - N.A.
7. Mechanisms in place to inform consumers of any risk of disruption/discontinuation of essential services.

a. Number of instances of data breaches along with impact: Nil
b. Percentage of data breaches involving personally identifiable information of customers: Nil
c. Impact, if any, of the data breaches: Nil
1. Channels/platforms where information on products and services of the entity can be accessed (provide web link,
if available)
Information regarding all products of Colgate-Palmolive (India) Limited is available on the Company's website and can
be accessed at www.colgate.com/en-in. Additionally, the Company publishes product information on several social
media and e-commerce platforms.
2. Steps were taken to inform and educate consumers about the safety and responsible usage of products and/or services:
Colgate-Palmolive (India) Limited ensures safe and responsible usage of the products through informative labeling. The
packaging provides information regarding safe usage and disposal for the majority of products including tubes, cartons,
brush packets, and bottle labels, among others. The Company's labelling and packaging also include information and
symbols related to its initiatives to promote recycling. Additionally, product information is also available on the Company
website and e-commerce sites.
3. Mechanisms are in place to inform consumers of any risk of disruption/discontinuation of essential services.
In case of any adverse scenario, the Company can leverage various mass media tools such as live TV, radio, print, social
media platforms, e-commerce pages, and brand stores for communication. Additionally, the Company can send out
emails and SMS to consumers who have opted for regular communication from Colgate-Palmolive (India) Limited.
4 a. Does the entity display product information on the product over and above what is mandated as per local laws?
Yes
If yes, provide details in brief.
The Company has a proactive approach to providing information on usage directions including information on the
recommended quantity to be used and age limits, which are over and above the current regulatory requirements.
b. Did your entity carry out any survey with regard to consumer satisfaction relating to the major products/
services of the entity, significant locations of operation of the entity, or the entity as a whole?.
Yes
If yes, provide details in brief.
Colgate-Palmolive (India) Limited regularly conducts consumer satisfaction surveys to gauge consumer
satisfaction in collaboration with the services of an independent provider. The scores of surveys are thoroughly
analyzed to identify areas of improvement. This feedback provides valuable insights into enhancing processes,
systems, and employee's skill capacity. To ensure that the corrective actions are undertaken efficiently, the
Company has also implemented a follow-up monitoring mechanism.

Managing Director and Whole-time Director &
Date: May 14, 2024 (DIN : 08822860) (DIN : 07645510)
219
Annexure 7
INDEPENDENT ASSURANCE STATEMENT
Introduction Intended User

DNV Business Assurance India Private Limited ('DNV'), has The intended user of this assurance statement is the
been commissioned by Colgate-Palmolive (India) Limited Management of Colgate-Palmolive (India) Limited ('the
(Corporate Identity Number L24200MH1937PLC002700, Management').
hereafter referred to as 'Colgate-Palmolive (India)' or 'the
Company') to undertake an independent assurance of the Level of Assurance
Company's disclosures in Business Responsibility and Reasonable Level of assurance for BRSR 9 Core Attributes
Sustainability Report (hereafter referred as 'BRSR'). The (Ref: Annexure I of SEBI circular)
disclosures include 9 Core Attributes of BRSR as per
Annexure I of SEBI circular dated 12 July 2023. Responsibilities of the Management of Colgate-
Palmolive (India) and of the Assurance Provider
Reporting standard/framework The Management of Colgate-Palmolive (India) has the sole
The disclosures have been prepared by Colgate-Palmolive responsibility for the preparation of the BRSR Report and is
(India) in reference to: responsible for all information disclosed in the BRSR Core
• BRSR Core - Framework for assurance and ESG and BRSR Report. The company is responsible for
disclosures for value chain as per SEBI (Securities and maintaining processes and procedures for collecting,
Exchange Board of India) Circular No. SEBI/HO/CFD/ analyzing and reporting the information and also, ensuring
CFD-SEC-2/P/CIR/2023/122 dated July12, 2023. the quality and consistency of the information presented
in the Report. Colgate-Palmolive (India) is also responsible
• BRSR reporting guidelines (Annexure II) as per SEBI
for ensuring the maintenance and integrity of its website
Circular No. SEBI/HO/CFD/CMD-2/P/CIR/2021/562
and any referenced BRSR disclosures on their website.
dated May 10, 2021, and incorporated Master Circular
No. SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated July 11, In performing this assurance work, DNV's responsibility is
2023. to the Management of the Company; however, this
statement represents our independent opinion and is
• Greenhouse Gas Protocol: A Corporate Accounting and
intended to inform the outcome of the assurance to the
Reporting Standard.
stakeholders of the Company.
Assurance Methodology/Standard
Scope, Boundary and Limitations
This assurance engagement has been carried out in
Scope
accordance with DNV's VeriSustainTM protocol, V6.0, which
is based on our professional experience and international The scope of our engagement includes independent
assurance practice, and the international standard in reasonable level of assurance of '9 Core attributes of BRSR'
Assurance Engagements, ISAE 3000 (revised) - Assurance (Ref: Annexure I of SEBI Circular) for Financial Year (FY)
Engagements other than Audits or Reviews of Historical 2023-24 as listed below-
Financial Information. DNV's VeriSustainTM Protocol has • Section C: Principle 1- Essential Indicator 8, 9
been developed in accordance with the most widely • Section C: Principle 3- Essential Indicator 1-c, 11
accepted reporting and assurance standards. Apart from
DNV's VeriSustainTM protocol, DNV team has also followed • Section C: Principle 5- Essential Indicator 3-b, 7
ISO 14064-3 - Specification with guidance for the • Section C: Principle 6- Essential Indicator 1, 3, 4, 7, 9
verification and validation of greenhouse gas statements; • Section C: Principle 8- Essential Indicator 4, 5
ISO 14046 - Environmental management - Water footprint -
• Section C: Principle 9- Essential Indicator 7
Principles, requirements, and guidelines to evaluate
indicators wrt. Greenhouse gases and water disclosures.
DNV Headquarters, Veritasveien 1, P.O.Box 300, 1322 Høvik, Norway. Tel: +47 67 57 99 00. www.dnv.com
DNV Business Assurance India Pvt. Ltd. DNV-2024-ASR-703701
220
Boundary of our assurance work: • Data outside the operations specified in the assurance
Boundary covers the performance of Colgate-Palmolive boundary is excluded from the assurance, unless
(India)'s operations in India that fall under the direct explicitly mentioned otherwise in this statement.
operational control of the Company's Legal structure. • The assurance does not cover the Company's
Based on the agreed scope with the Company, the statements that express opinions, claims, beliefs,
boundary of reasonable assurance covers the operations aspirations, expectations, aims, or future intentions.
of Colgate-Palmolive (India) across all locations in India (4 Additionally, assertions related to Intellectual Property
manufacturing plants and 4 offices). The boundary for Rights and other competitive issues are beyond the
GHG footprint, water footprint, energy footprint and waste scope of this assurance.
management related disclosures is 4 manufacturing plants • The assessment does not include a review of the
and Head Office (HO) located in India. Company's strategy or other related linkages expressed
in the Report. These aspects are not within the scope
Limitation(s):
of the assurance engagement.
We performed a reasonable level of assurance for the
• The assurance does not extend to mapping the Report
BRSR Core reporting based on our assurance methodology
with reporting frameworks other than those specifically
VeriSustainTM, v06.
mentioned. Any assessments or comparisons with
The assurance scope has the following limitations: frameworks beyond the specified ones are not
• The assurance engagement considers an uncertainty considered in this engagement.
of ±5% based on materiality threshold for estimation/ • Aspects of the Report that fall outside the mentioned
measurement errors and omissions. scope and boundary are not subject to assurance. The
• DNV has not been involved in evaluation or assessment is limited to the defined parameters.
assessment of any financial data/performance of the • The assurance engagement does not include a review of
company. DNV opinion on specific BRSR Core legal compliances. Compliance with legal requirements is
indicators (ref- for total revenue from operations; not within the scope of this assurance, and the Company
Principle 3, Question 1(c) of Essential Indicators for is responsible for ensuring adherence to relevant laws.
Spending on measures towards well-being of
• The assurance engagement is based on the assumption
employees and workers - cost incurred as a % of total
that the data and information provided by the
revenue of the company; Principle 8, Question 4 of
Company are complete, sufficient and authentic.
Essential Indicators, Principle 1, Question 8 of Essential
Indicators and Principle 1, Question 9 of Essential Assurance process
Indicators) relies on the third party audited financial
As part of the assurance process, a multi-disciplinary team
reports of the Company. DNV does not take any
of assurance specialists performed assurance work for
responsibility of the financial data reported in the
selected sites of Colgate-Palmolive (India). We carried out
audited financial reports of the Company.
the following activities:
• The assessment is limited to data and information
1. Reviewed the disclosures under BRSR Core,
within the defined Reporting Period. Any data outside
encompassing the framework for assurance consisting
this period is not considered within the scope of
of a set of Key Performance Indicators (KPIs) under 9
assurance.
221
ESG attributes. The format of BRSR Core used a basis • Verification of the consolidated reported
of reasonable level of assurance performance disclosures in context to the Principle
2. Evaluation of the design and implementation of key of Completeness as per VeriSustainTM for reasonable
systems, processes, and controls for collecting, level verification for the disclosures.
managing and reporting the BRSR Core indicators
Conclusion
3. Assessment of operational control and reporting
Reasonable level of Assurance- 9 Core Attributes of
boundaries
BRSR
4. Seek extensive evidence across all relevant areas,
Based on our review and procedures followed for reasonable
ensuring a detailed examination of BRSR Core
level of assurance, DNV is of the opinion that, in all material
indicators. Engaged directly with stakeholders to
aspects, the BRSR 9 Core attributes as listed in section
gather insights and corroborative evidence for each
'Scope' for FY 2023-24 are reported in accordance with
disclosed indicator.
reporting requirements outlined in BRSR Core (Annexure I of
5. Interviews with selected senior managers responsible SEBI Circular dated 12 July 2023).
for management of disclosures and review of selected
evidence to support environmental KPIs and metrics Statement of Competence and Independence
disclosed the Report. We were free to choose DNV applies its own management standards and compliance
interviewees and interviewed those with overall policies for quality control, which are based on the principles
responsibility of monitoring, data collation and enclosed within ISO IEC 17029:2019 - Conformity assessment -
reporting the selected indicators. General principles are requirements for validation and
6. DNV audit team conducted on-site audits for data verification bodies, and accordingly maintains a
testing and also, to assess the uniformity in reporting comprehensive system of quality control including
processes and also, quality checks at different documented policies and procedures regarding compliance
locations of the Company as listed in Annexure I. Sites with ethical requirements, professional standards, and
for data testing and reporting system checks were applicable legal and regulatory requirements.
selected based on the percentage contribution each We have complied with the DNV Code of Conduct1 during
site makes to the reported indicator, complexity of the assurance engagement and maintain independence
operations at each location (high/low/medium) and wherever required by relevant ethical requirements. This
reporting system within the organization. engagement work was carried out by an independent team
7. Conduct a comprehensive examination of key material of sustainability assurance professionals. During the
aspects within the BRSR Core framework supporting reporting period i.e. FY 2023-24, DNV, to the best of its
adherence to the assurance based on applicable knowledge, was not involved in any non-audit/non-
principles plus specified data and information. assurance work with the Company and its Group entities
which could lead to any Conflict of Interest. DNV was not
8. DNV teams conducted the:
involved in the preparation of any statements or data
• Verification of the data consolidation of reported included in the Report except for this Assurance Statement
performance disclosures in context to the Principle for internal use of Colgate-Palmolive (India) Limited. DNV
of Completeness. maintains complete impartiality toward stakeholders
1
DNV Corporate Governance & Code of Conduct - https://www.dnv.com/about/in-brief/corporate-governance.html
222
interviewed during the assurance process. We did not DNV does not assume responsibility to anyone other than the
provide any services to Colgate-Palmolive (India) Limited in Company for DNV's work or this assurance statement. The
the scope of assurance for the reporting period that could usage of this assurance statement shall be governed by the
compromise the independence or impartiality of our work. terms and conditions of the contract between DNV and
Colgate-Palmolive (India) and DNV does not accept any
Purpose and Restriction on Distribution and Use liability if this assurance statement is used for an alternative
This assurance statement, including our conclusion has been purpose from which it is intended, nor to any third party in
prepared solely for the exclusive use and benefit of respect of this assurance statement. No part of this assurance
management of the Company and solely for the purpose for statement shall be reproduced, distributed or communicated
which it is provided. To the fullest extent permitted by law, to a third party without prior written consent.
For DNV Business Assurance India Private Limited
Ankita Parab Karthik Ramaswamy

Lead Verifier, Assurance Reviewer,
Sustainability Services, Sustainability Services,
DNV Business Assurance India Private Limited, India. DNV Business Assurance India Private Limited, India.
Assurance Team:
Anjana Sharma, Roshni Sarage, Varsha Bohiya, Suraiya Rahman
21/06/2024, Mumbai, India.
DNV Business Assurance India Private Limited is part of DNV - Business Assurance, a global provider of certification,
verification, assessment and training services, helping customers to build sustainable business performance.
www.dnv.com
Annexure I
Sites selected to for audits
Sr. No. Site Location

1. Head office Colgate Research Centre, Mumbai (Maharashtra)
2. Manufacturing plants- on-site Sri City (Andhra Pradesh)
Sanand (Gujarat)
223
Independent Auditor's Report

To the Members of Colgate-Palmolive (India) Limited
Report on the Audit of the Financial Statements of Chartered Accountants of India together with the ethical
requirements that are relevant to our audit of the financial
Opinion statements under the provisions of the Act and the Rules
thereunder, and we have fulfilled our other ethical
We have audited the accompanying financial statements responsibilities in accordance with these requirements and
of Colgate-Palmolive (India) Limited ('the Company'), the Code of Ethics. We believe that the audit evidence we
which comprise the Balance sheet as at March 31 2024, the have obtained is sufficient and appropriate to provide a
Statement of Profit and Loss, including the statement of basis for our audit opinion on the financial statements.
Other Comprehensive Income, the Cash Flow Statement
and the Statement of Changes in Equity for the year then Key Audit Matters
ended, and notes to the financial statements, including a
summary of material accounting policies and other Key audit matters are those matters that, in our professional
explanatory information. judgment, were of most significance in our audit of the
financial statements for the financial year ended March 31,
In our opinion and to the best of our information and 2024. These matters were addressed in the context of our
according to the explanations given to us, the aforesaid audit of the financial statements as a whole, and in forming
financial statements give the information required by the our opinion thereon, and we do not provide a separate
Companies Act, 2013, as amended ('the Act') in the opinion on these matters. For each matter below, our
manner so required and give a true and fair view in description of how our audit addressed the matter is
conformity with the accounting principles generally provided in that context.
accepted in India, of the state of affairs of the Company as
at March 31, 2024, its profit including other comprehensive We have determined the matters described below to be the
income its cash flows and the changes in equity for the key audit matters to be communicated in our report. We
year ended on that date. have fulfilled the responsibilities described in the Auditor's
responsibilities for the audit of the financial statements
Basis for Opinion section of our report, including in relation to these matters.
Accordingly, our audit included the performance of
We conducted our audit of the financial statements in procedures designed to respond to our assessment of the
accordance with the Standards on Auditing (SAs), as specified risks of material misstatement of the financial statements.
under section 143(10) of the Act. Our responsibilities under The results of our audit procedures, including the
those Standards are further described in the 'Auditor's procedures performed to address the matters below,
Responsibilities for the Audit of the Financial Statements' provide the basis for our audit opinion on the
section of our report. We are independent of the Company in accompanying financial statements.
accordance with the 'Code of Ethics' issued by the Institute
224
Key audit matters How our audit addressed the key audit matter
(a) Revenue recognition (as described in Note 25 of the financial statements)
Revenue from the sale of goods is measured Our audit procedures included the following:
net off discounts and rebates that are given to
• Assessing the appropriateness of the Company's revenue
the customers (i.e., to the Wholesale traders
recognition accounting policies including those relating to
and Retail traders) as a part of sales promotion,
discounts and rebates for primary and secondary sales.
comprising of primary and secondary
schemes. • Obtained an understanding, assessed and tested the operating
effectiveness of internal control relating to the identification,
Of the total discounts and rebates passed on recognition and measurement of discounts and rebates for
to the customers, certain discounts and secondary schemes.
rebates are passed on to the customers on the
basis of secondary sales made by customers • Tested on sample basis, the underlying documentation and
i.e., secondary schemes. assumptions, for discount and rebate provisions accrued during
the year in relation to secondary sales.
Significant judgement is required in estimating
• Tested on sample basis, the subsequent claims accounted by
accruals relating to secondary schemes
the company, to assess the adequacy and appropriateness of
recognized, based on sales made during the
accruals outstanding as at year end.
year.
• Performed an analysis between historical accrual and actual
expenses incurred for the previous periods.
• Obtained reasons from management to ascertain reasonableness
in relation to ageing of outstanding accruals and verified
subsequent settlement of provisions.
• We assessed the adequacy of the disclosures in respect of
revenue to be disclosed as per Ind AS 115.
(b) Contingent liabilities / provisions in relation to tax Litigations (as described in Note 24(A), and 31(e) and 32 of the
Financial statements)
The Company has received various demand Our audit procedures included the following:
orders and notices under various tax laws
• Obtained an understanding, assessed and tested the internal
which the Company is contesting. In cases
control environment relating to the identification, recognition
where the outflow of resources embodying
and measurement of provisions for disputes and disclosures of
economic benefits is probable, the company
contingent liabilities in relation to tax litigations.
has made provision and in cases where
outflow of resources embodying economic • Obtained details of completed tax assessments and demands
benefits is possible, then such items are issued by tax authorities, from the management.
disclosed as contingent liabilities. • Read the orders/notices received from tax authorities and held
Significant judgements and estimates are discussion with management to understand management's
required to assess impact of these litigations assessment of the quantification and likelihood of significant
on the financial position, results of operations exposures and the provision required for specific cases. We
and cash flows. engaged our tax specialists to evaluate the current status of tax
assessments and management's position in relation to on-going
disputes with regard to likelihood assessment of exposure done
by the management.
• Analysed the management's estimates related to the recognized
provisions for disputes and disclosures of contingent liabilities
in relation to tax litigations and uncertain tax positions in the
financial statements.
225
Other Information as a going concern, disclosing, as applicable, matters related

to going concern and using the going concern basis of
The Company's Board of Directors is responsible for the accounting unless management either intends to liquidate
other information. The other information comprises the the Company or to cease operations, or has no realistic
information included in the Annual report but does not alternative but to do so.
include the financial statements and our auditor's report
thereon. Those Board of Directors are also responsible for overseeing
the Company's financial reporting process.
Our opinion on the financial statements does not cover the
other information and we do not express any form of
assurance conclusion thereon. Auditor's Responsibilities for the Audit of the
In connection with our audit of the financial statements,
our responsibility is to read the other information and, in Our objectives are to obtain reasonable assurance about
doing so, consider whether such other information is whether the financial statements as a whole are free from
materially inconsistent with the financial statements, or our material misstatement, whether due to fraud or error, and to
knowledge obtained in the audit or otherwise appears to issue an auditor's report that includes our opinion. Reasonable
be materially misstated. If, based on the work we have assurance is a high level of assurance but is not a guarantee
performed, we conclude that there is a material that an audit conducted in accordance with SAs will always
misstatement of this other information, we are required to detect a material misstatement when it exists. Misstatements
report that fact. We have nothing to report in this regard. can arise from fraud or error and are considered material if,
individually or in the aggregate, they could reasonably be
expected to influence the economic decisions of users taken
Responsibilities of Management for the on the basis of these financial statements.
As part of an audit in accordance with SAs, we exercise
The Company's Board of Directors is responsible for the professional judgment and maintain professional skepticism
matters stated in section 134(5) of the Act with respect to throughout the audit. We also:
the preparation of these financial statements that give a true
and fair view of the financial position, financial performance • Identify and assess the risks of material misstatement of
including other comprehensive income, cash flows and the financial statements, whether due to fraud or error,
changes in equity of the Company in accordance with the design and perform audit procedures responsive to
accounting principles generally accepted in India, including those risks, and obtain audit evidence that is sufficient
the Indian Accounting Standards (Ind AS) specified under and appropriate to provide a basis for our opinion. The
section 133 of the Act read with the Companies (Indian risk of not detecting a material misstatement resulting
Accounting Standards) Rules, 2015, as amended. This from fraud is higher than for one resulting from error,
responsibility also includes maintenance of adequate as fraud may involve collusion, forgery, intentional
accounting records in accordance with the provisions of the omissions, misrepresentations, or the override of internal
Act for safeguarding of the assets of the Company and for control.
preventing and detecting frauds and other irregularities;
• Obtain an understanding of internal control relevant to
selection and application of appropriate accounting policies;
the audit in order to design audit procedures that are
making judgments and estimates that are reasonable and
appropriate in the circumstances. Under section 143(3)(i)
prudent; and the design, implementation and maintenance
of the Act, we are also responsible for expressing our
of adequate internal financial controls, that were operating
opinion on whether the Company has adequate internal
effectively for ensuring the accuracy and completeness of
financial controls with reference to financial statements
the accounting records, relevant to the preparation and
in place and the operating effectiveness of such controls.
presentation of the financial statements that give a true and
fair view and are free from material misstatement, whether • Evaluate the appropriateness of accounting policies used
due to fraud or error. and the reasonableness of accounting estimates and
related disclosures made by management.
In preparing the financial statements, management is
responsible for assessing the Company's ability to continue
226
• Conclude on the appropriateness of management's Act, we give in the 'Annexure 1' a statement on the
use of the going concern basis of accounting and, matters specified in paragraphs 3 and 4 of the Order.
based on the audit evidence obtained, whether a
material uncertainty exists related to events or 2. As required by Section 143(3) of the Act, we report, to
conditions that may cast significant doubt on the the extent applicable, that:
Company's ability to continue as a going concern. If we (a) We have sought and obtained all the information
conclude that a material uncertainty exists, we are and explanations which to the best of our
required to draw attention in our auditor's report to the knowledge and belief were necessary for the
related disclosures in the financial statements or, if such purposes of our audit;
disclosures are inadequate, to modify our opinion. Our
conclusions are based on the audit evidence obtained (b) In our opinion, proper books of account as required
up to the date of our auditor's report. However, future by law have been kept by the Company so far as it
events or conditions may cause the Company to cease appears from our examination of those books and
to continue as a going concern. daily back up of such books of accounts have been
maintained on servers physically located in India
• Evaluate the overall presentation, structure and content except back up of audit trail, as referred in Note 45
of the financial statements, including the disclosures, to financial statements, and for the matters stated
and whether the financial statements represent the in the paragraph (i)(vi) below on reporting under
underlying transactions and events in a manner that Rule 11(g);
achieves fair presentation.
(c) The Balance Sheet, the Statement of Profit and Loss
We communicate with those charged with governance including the Statement of Other Comprehensive
regarding, among other matters, the planned scope and Income, the Cash Flow Statement and Statement of
timing of the audit and significant audit findings, including Changes in Equity dealt with by this Report are in
any significant deficiencies in internal control that we agreement with the books of account;
identify during our audit.
(d) In our opinion, the aforesaid financial statements
We also provide those charged with governance with a comply with the Accounting Standards specified
statement that we have complied with relevant ethical under Section 133 of the Act, read with Companies
requirements regarding independence, and to communicate (Indian Accounting Standards) Rules, 2015, as
with them all relationships and other matters that may amended;
reasonably be thought to bear on our independence, and
where applicable, related safeguards. (e) On the basis of the written representations received
from the directors as on March 31, 2024 taken on
From the matters communicated with those charged with record by the Board of Directors, none of the
governance, we determine those matters that were of most directors is disqualified as on March 31, 2024 from
significance in the audit of the financial statements for the being appointed as a director in terms of Section
financial year ended March 31, 2024 and are therefore the 164 (2) of the Act;
key audit matters. We describe these matters in our auditor's
report unless law or regulation precludes public disclosure (f) The observations relating to the maintenance of
about the matter or when, in extremely rare circumstances, accounts and other matters connected therewith
we determine that a matter should not be communicated in are as stated in paragraph (b) above on reporting
our report because the adverse consequences of doing so under Section 143(3)(b) and paragraph (i)(vi) below
would reasonably be expected to outweigh the public on reporting under Rule 11(g);
interest benefits of such communication.
(g) With respect to the adequacy of the internal
financial controls with reference to financial
Report on Other Legal and Regulatory statements and the operating effectiveness of
Requirements such controls, refer to our separate Report in
'Annexure II' to this report;
1. As required by the Companies (Auditor's Report) Order,
2020 ('the Order'), issued by the Central Government of (h) In our opinion, the managerial remuneration for
India in terms of sub-section (11) of section 143 of the the year ended March 31, 2024 has been paid /
227
provided by the Company to its directors in shall, whether, directly or indirectly, lend or
accordance with the provisions of section 197 read invest in other persons or entities identified
with Schedule V to the Act; in any manner whatsoever by or on
behalf of the Funding Party ('Ultimate
(i) With respect to the other matters to be included in
Beneficiaries') or provide any guarantee,
the Auditor's Report in accordance with Rule 11 of
security or the like on behalf of the
the Companies (Audit and Auditors) Rules, 2014, as
Ultimate Beneficiaries; and
amended in our opinion and to the best of our
information and according to the explanations c) Based on such audit procedures performed
given to us: that have been considered reasonable and
appropriate in the circumstances, nothing
i. The Company has disclosed the impact of
has come to our notice that has caused us
pending litigations on its financial position in
to believe that the representations under
its financial statements - Refer Note 32 to the
sub-clause (a) and (b) contain any material
financial statements;
misstatement.
ii. The Company did not have any long-term
v. The interim dividend declared and paid by the
contracts including derivative contracts for
Company during the year and until the date of
which there were any material foreseeable
this audit report is in accordance with section
losses;
123 of the Act.
iii. There has been no delay in transferring
vi. Based on our examination which included test
amounts, required to be transferred, to the
checks, the Company has used accounting
Investor Education and Protection Fund by the
software for maintaining its books of account
Company;.
which has a feature of recording audit trail (edit
iv. a) The management has represented that, to log) facility and the same has operated
the best of its knowledge and belief, no throughout the year for all relevant transactions
funds have been advanced or loaned or recorded in the software except that, audit trail
invested (either from borrowed funds or feature is not enabled for certain changes, if
share premium or any other sources or made, using privileged/ administrative access
kind of funds) by the Company to or in rights, as described in note 45 to the financial
any other person(s) or entity(ies), including statements. Further, during the course of our
foreign entities ('Intermediaries'), with the audit we did not come across any instance of
understanding, whether recorded in audit trail feature being tampered with in
writing or otherwise, that the Intermediary respect to the accounting software.
shall, whether, directly or indirectly lend or
invest in other persons or entities
identified in any manner whatsoever by or For S R B C & CO LLP
on behalf of the Company ('Ultimate Chartered Accountants
Beneficiaries') or provide any guarantee, ICAI Firm Registration Number: 324982E/E300003
security or the like on behalf of the
Ultimate Beneficiaries;
______________________________
b) The management has represented that, to
per Pritesh Maheshwari
the best of its knowledge and belief, no
Partner
funds have been received by the Company
Membership Number: 118746
from any person(s) or entity(ies), including UDIN: 24118746BKFZUH6787
foreign entities ('Funding Parties'), with
the understanding, whether recorded in Place of Signature: Mumbai
writing or otherwise, that the Company Date: May 14, 2024
228
Annexure I
to the Independent Auditor's Report of even Date on the Financial Statements of Colgate-Palmolive (India) Limited
In terms of the information and explanations sought by us (iii) (a) During the year the Company has provided loans
and given by the company by and the books of account to companies as follows:
and records examined by us in the normal course of audit
and to the best of our knowledge and belief, we state that: Loans
Particulars
(J Lakhs)
(i) (a) The Company has maintained proper records
Aggregate amount provided 2,500
showing full particulars, including quantitative
during the year
details and situation of Property, Plant and
Balance outstanding as at 625
Equipment.
balance sheet date in respect of
(b) The Company has maintained proper records above cases
showing full particulars of intangibles assets.
During the year the Company has not made
(c) All property, plant and equipment were physically investments, provided guarantees, provided
verified by the Management in the previous year security and granted advances in the nature of loans
in accordance with a planned programme of to companies, firms, Limited Liability Partnerships or
verifying them once in three years which, in our any other parties.
opinion, is reasonable having regard to the size of
the Company and the nature of its assets. (b) During the year the terms and conditions of the
grant of all loans to companies are not prejudicial to
(d) The title deeds of immovable properties (other than the Company's interest. During the year the
properties where the Company is the lessee and the Company has not made investments, provided
lease agreements are duly executed in favor of the guarantees, provided security and granted
lessee) are held in the name of the company. advances in the nature of loans to companies, firms,
Limited Liability Partnerships or any other parties.
(e) The Company has not revalued its Property, Plant
and Equipment (including Right of use assets) (c) The Company has granted loan during the year to
during the year ended March 31, 2024. companies where the schedule of repayment of
principal and payment of interest has been
(f) There are no proceedings initiated or are pending
stipulated and the repayment or receipts are regular.
against the Company for holding any benami
property under the Prohibition of Benami Property (d) There are no amounts of loans and advances in the
Transactions Act, 1988 and rules made thereunder. nature of loans granted to companies, firms, limited
liability partnerships or any other parties which are
(ii) (a) The management has conducted physical
overdue for more than ninety days.
verification of inventory at reasonable intervals
during the year. In our opinion, the coverage and the (e) There were no loans or advance in the nature of
procedure of such verification by the management loan granted to companies, firms, Limited Liability
is appropriate. No material discrepancies of Partnerships or any other parties which was fallen
inventory were noticed on such physical verification. due during the year, that have been renewed or
Inventories lying with third parties have been extended or fresh loans granted to settle the
confirmed by them as at March 31, 2024 and no overdues of existing loans given to the same parties.
material discrepancies were noticed in respect of
such confirmations. (f) The Company has not granted any loans or
advances in the nature of loans, either repayable on
(b) The Company has not been sanctioned working demand or without specifying any terms or period
capital limits in excess of INR five crores in of repayment to companies, firms, Limited Liability
aggregate from banks or financial institutions Partnerships or any other parties. Accordingly, the
during any point of time of the year on the basis requirement to report on clause 3(iii)(f) of the
of security of current assets. Accordingly, the Order is not applicable to the Company.
requirement to report on clause 3(ii)(b) of the
Order is not applicable to the Company.
229
(iv) There are no loans, investments, guarantees, and the Companies Act, 2013, for the products/services of
securities given in respect of which provisions of the Company.
section 185 of the Companies Act 2013 are applicable
and hence not commented upon. Further, according to (vii) (a) The Company is regular in depositing with
the information and explanations given to us, appropriate authorities undisputed statutory dues
provisions of sections 186 of the Companies Act, 2013 including goods and services tax, provident fund,
in respect of loans have been complied with by the employees' state insurance, income-tax, duty of
Company. custom, cess and other statutory dues applicable to
it. According, to the information and explanations
(v) The Company has neither accepted any deposits from given to us and based on audit procedures
the public nor accepted any amounts which are performed by us, no undisputed amounts payable in
deemed to be deposits within the meaning of Sections respect of these statutory dues were outstanding, at
73 to 76 of the Companies Act and the Companies the year end, for a period of more than six months
(Acceptance of Deposits) Rules, 2014 (as amended). from the date they became payable.
Accordingly, the provisions of clause 3(v) of the Order
are not applicable to the company. (b) The dues of income-tax, goods and services tax,
duty of excise, customs, service tax, sales-tax, value
(vi) The Central Government has not specified the added tax and cess on account of any dispute, are
maintenance of cost records under Section 148(1) of as follows:
Income Tax
Sr. Period to which amount Forum where dispute is Amount

Name of the Statute
no. relates pending (J Lakhs)
1. Income Tax Act, 1961 AY 2014-15 to AY 2015-16 Income Tax Appellate 78,580.31
AY 2017-18 to AY 2018-19 Tribunal
AY 1996-97 to AY 2000-01 High Court 1,100.21
Total 79,680.52
Sales Tax

Name of the Statute
1. Statute applicable in 1993-94, 2004-05 High court 431.97
Maharashtra, UP and Kerala and 2016-17
2. Statute applicable in 1988-89, 1995-96 to Assessing authorities and 1,012.55
Maharashtra, Uttar Pradesh, 1998-99, 2000-01 First Appellate Authorities
Madhya Pradesh, Andhra to 2017-18 of various states
Pradesh, Kerala, Rajasthan,
Uttaranchal, Delhi, Tripura,
West Bengal, Bihar, Odisha,
Assam, Gujarat, Karnataka,
Jharkhand, Goa, Chandigarh,
Haryana
3. Statute applicable in 1987-88, 1990-91, 1995-96 Sales Tax Appellate 210.61
Maharashtra, Uttar Pradesh, to 1997-98, 1999-00 to Tribunal of various States
Andhra Pradesh, Kerala, Bihar, 2001-02, 2003-04
Odisha and Karnataka
Total 1,655.13
230
Service Tax

Name of the Statute
1. Service Tax (Finance Act, 1994) July 2007 to October 2008 Customs, Excise and Service 15.20
Tax Appellate Tribunal
2003-2010 and 2013-2017 First appellate authorities 13.11
Total 28.31
Excise related matters

Name of the Statute
1. The Central Excise Act, 1944 Excise duty liability Customs, Excise and 1,998.07
1994-95, 2005-06 to Service Tax Appellate
2010-11 and Jun'14 - Jun'17 Tribunal
1998-1999 to 2004-05 and First appellate 803.16
2006-07 to 2016-17 authorities
Total 2,801.23
Goods and Service Tax

Name of the Statute
1. Goods & Service Tax Act, 2017 2017-18 to 2022-23 Assessing Officer 8,976.53
2017-18 to 2018-19 and First appellate authorities 660.88
2020-21
Total 9,637.41
(viii) The Company has not surrendered or disclosed any (c) The Company did not have any term loans
transaction, previously unrecorded in the books of outstanding during the year hence, the
account, in the tax assessments under the Income Tax requirement to report on clause 3(ix)(c) of the
Act, 1961 as income during the year. Accordingly, the Order is not applicable to the Company.
requirement to report on clause 3(viii) of the Order is
not applicable to the Company. (d) The Company did not raise any funds during the
year hence, the requirement to report on clause
(ix) (a) The Company did not have any outstanding loans 3(ix)(d) of the Order is not applicable to the
or borrowing or interest thereon due to any lender Company.
during the year. Accordingly, the requirement
to report on clause 3(ix)(a) of the order is not (e) The Company does not have any subsidiary,
applicable to the Company. associate or joint venture. Accordingly, the
requirement to report on clause 3(ix)(e) and 3(ix)(f)
(b) The Company has not been declared wilful of the Order is not applicable to the Company.
defaulter by any bank or financial institution or
government or any government authority.
231
(x) (a) The Company has not raised any money during (xv) The Company has not entered into any non-cash
the year by way of further public offer (including transactions with its directors or persons connected
debt instruments), hence, the requirement to with its directors and hence requirement to report on
report on clause 3 (x)(a) is not applicable to the clause 3(xv) of the Order is not applicable to the
Company. Company.
(b) The Company has not made any preferential (xvi) (a) The provisions of section 45-IA of the Reserve
allotment or private placement of shares /fully or Bank of India Act, 1934(2 of 1934) are not
partially or optionally convertible debentures applicable to the Company. Accordingly, the
during the year under audit and hence, the requirement to report on clause 3(xvi)(a) of the
requirement to report on clause 3(x)(b) of the Order is not applicable to the Company.
Order is not applicable to the Company.
(b) The Company is not engaged in any Non-Banking
(xi) (a) No fraud by the company or no fraud on the Financial or Housing Finance activities. Accordingly,
company has been noticed or reported during the the requirement to report on clause 3(xvi)(b) of the
year. Order is not applicable to the Company.
(b) During the year, no report under sub-section (12) (c) The Company is not a Core Investment Company
of section 143 of the Companies Act, 2013 has as defined in the regulations made by Reserve
been filed by us in Form ADT-4 as prescribed under Bank of India. Accordingly, the requirement to
Rule 13 of Companies (Audit and Auditors) Rules, report on clause 3(xvi)(c) of the Order is not
2014 with the Central Government. As informed to applicable to the Company.
us by the company no report under sub-section
(12) of section 143 of the Companies Act, 2013 has (d) There are no other Companies part of the Group,
been filed by secretarial auditor in Form ADT-4 as hence, the requirement to report on clause 3(xvi)
prescribed under Rule 13 of Companies (Audit and of the Order is not applicable to the Company.
Auditors) Rules, 2014 with the Central Government. (xvii) The Company has not incurred cash losses in the
(c) We have taken into consideration the whistle current year and immediately preceding financial year.
blower complaints received by the Company during (xviii) There has been no resignation of the statutory
the year while determining the nature, timing and auditors during the year and accordingly requirement
extent of audit procedures. to report on Clause 3(xviii) of the Order is not
(xii) The Company is not a Nidhi Company as per the applicable to the Company.
provisions of the Companies Act, 2013. Therefore, the (xix) On the basis of the financial ratios disclosed in Note 43
requirement to report on clause 3(xii)(a), (b) & (c) of to the financial statements, ageing and expected dates
the order are not applicable to the Company. of realization of financial assets and payment of
(xiii) Transactions with the related parties are in compliance financial liabilities, other information accompanying
with section 177 and 188 of Companies Act, 2013 the financial statements, our knowledge of the Board
where applicable and the details have been disclosed of Directors and management plans and based on
in the notes to the financial statements, as required by our examination of the evidence supporting the
the applicable accounting standards. assumptions, nothing has come to our attention, which
causes us to believe that any material uncertainty exists
(xiv) (a) The Company has an internal audit system as on the date of the audit report that Company is not
commensurate with the size and nature of its capable of meeting its liabilities existing at the date of
business. balance sheet as and when they fall due within a
period of one year from the balance sheet date. We,
(b) The internal audit reports of the Company issued however, state that this is not an assurance as to the
till the date of the audit report, for the period future viability of the Company. We further state that
under audit have been considered by us. our reporting is based on the facts up to the date of
232
the audit report and we neither give any guarantee nor section (6) of section 135 of the said Act. This matter
any assurance that all liabilities falling due within a has been disclosed in note 30(B) to the financial
period of one year from the balance sheet date, will get statements.
discharged by the Company as and when they fall due.
(xx) (a) In respect of other than ongoing projects, there are

For S R B C & CO LLP
no unspent amounts that are required to be
Chartered Accountants
transferred to a fund specified in Schedule VII of
ICAI Firm Registration Number: 324982E/E300003
the Companies Act (the Act), in compliance with
second proviso to sub section 5 of section 135 of ______________________________
the Act. This matter has been disclosed in Note per Pritesh Maheshwari
30(B) to the financial statements Partner
(b) All amounts that are unspent under section (5) of
UDIN: 24118746BKFZUH6787
section 135 of Companies Act, pursuant to any
ongoing project, has been transferred to special Place of Signature: Mumbai
account in compliance of with provisions of sub Date: May 14, 2024
233
Annexure II
to the Independent Auditor's Report of even Date on the Financial Statements of Colgate-Palmolive (India) Limted
Report on the Internal Financial Controls under financial statements was established and maintained and if
Clause (i) of Sub-section 3 of Section 143 of such controls operated effectively in all material respects.
the Companies Act, 2013 ('the Act')
Our audit involves performing procedures to obtain audit
We have audited the internal financial controls with evidence about the adequacy of the internal financial
reference to financial statements of Colgate-Palmolive controls with reference to these financial statements and
(India) Limited ('the Company') as of March 31, 2024 in their operating effectiveness. Our audit of internal financial
conjunction with our audit of the financial statements of controls with reference to financial statements included
the Company for the year ended on that date. obtaining an understanding of internal financial controls with
reference to these financial statements, assessing the risk
that a material weakness exists, and testing and evaluating
Management's Responsibility for Internal
the design and operating effectiveness of internal control
Financial Controls
based on the assessed risk. The procedures selected depend
The Company's Management is responsible for establishing on the auditor's judgement, including the assessment of the
and maintaining internal financial controls based on the risks of material misstatement of the financial statements,
internal control over financial reporting criteria established whether due to fraud or error.
by the Company considering the essential components of
We believe that the audit evidence we have obtained is
internal control stated in the Guidance Note on Audit of
sufficient and appropriate to provide a basis for our audit
Internal Financial Controls Over Financial Reporting issued
opinion on the Company's internal financial controls with
by the Institute of Chartered Accountants of India ('ICAI').
reference to these financial statements.
These responsibilities include the design, implementation
and maintenance of adequate internal financial controls
that were operating effectively for ensuring the orderly and Meaning of Internal Financial Controls With
efficient conduct of its business, including adherence to Reference to these Financial Statements
the Company's policies, the safeguarding of its assets, the
A company's internal financial controls with reference to
prevention and detection of frauds and errors, the accuracy
financial statements is a process designed to provide
and completeness of the accounting records, and the
reasonable assurance regarding the reliability of financial
timely preparation of reliable financial information, as
reporting and the preparation of financial statements for
required under the Companies Act, 2013.
external purposes in accordance with generally accepted
accounting principles. A company's internal financial controls
Auditor's Responsibility with reference to financial statements includes those policies
and procedures that (1) pertain to the maintenance of
Our responsibility is to express an opinion on the Company's
records that, in reasonable detail, accurately and fairly reflect
internal financial controls with reference to these financial
the transactions and dispositions of the assets of the
statements based on our audit. We conducted our audit in
company; (2) provide reasonable assurance that transactions
accordance with the Guidance Note on Audit of Internal
are recorded as necessary to permit preparation of financial
Financial Controls Over Financial Reporting (the 'Guidance
statements in accordance with generally accepted
Note') and the Standards on Auditing, as specified under
accounting principles, and that receipts and expenditures of
section 143(10) of the Act, to the extent applicable to an
the company are being made only in accordance with
audit of internal financial controls, both issued by ICAI.
authorisations of management and directors of the
Those Standards and the Guidance Note require that we
company; and (3) provide reasonable assurance regarding
comply with ethical requirements and plan and perform the
prevention or timely detection of unauthorised acquisition,
audit to obtain reasonable assurance about whether
use, or disposition of the company's assets that could have a
adequate internal financial controls with reference to these
material effect on the financial statements.
234
Inherent Limitations of Internal Financial financial statements and such internal financial controls
Controls With Reference to Financial with reference to financial statements were operating
Statements effectively as at March 31, 2024, based on the internal
control over financial reporting criteria established by the
Because of the inherent limitations of internal financial Company considering the essential components of internal
controls with reference to financial statements, including control stated in the Guidance Note issued by the ICAI.
the possibility of collusion or improper management
override of controls, material misstatements due to error or
fraud may occur and not be detected. Also, projections of
any evaluation of the internal financial controls with For S R B C & CO LLP
reference to financial statements to future periods are Chartered Accountants
subject to the risk that the internal financial control with ICAI Firm Registration Number: 324982E/E300003
reference to financial statements may become inadequate
______________________________
because of changes in conditions, or that the degree of
per Pritesh Maheshwari
compliance with the policies or procedures may deteriorate.
Partner
Opinion UDIN: 24118746BKFZUH6787
In our opinion, the Company has, in all material respects, Place of Signature: Mumbai
adequate internal financial controls with reference to Date: May 14, 2024
235
Balance Sheet
as at March 31, 2024
As at As at
Note March 31, 2024 March 31, 2023
J in lakhs J in lakhs
ASSETS
Non-Current Assets
Property, Plant and Equipment 3(A) 79,406.59 86,179.92
Capital Work-in-Progress 3(B) 11,028.40 11,407.68
Financial Assets
(i) Loans 4 96.91 92.02
(ii) Others 5 1,681.83 1,853.97
Deferred Tax Assets (Net) 19 6,475.53 2,884.26
Other Non-Current Assets 6 793.07 1,303.74
Current Tax Assets (Net) 31(d) 29,789.33 29,788.98
1,29,271.66 1,33,510.57
Current Assets
Inventories 7 29,641.37 33,544.96
Financial Assets
(i) Trade Receivables 8 16,738.93 15,736.61
(ii) Cash and Cash Equivalents 9 88,899.34 80,605.68
(iii) Bank Balances [other than (ii) above] 10 48,478.92 11,693.84
(iv) Loans 11 666.50 8,759.91
(v) Others 12 601.89 636.09
Other Current Assets 13 5,354.16 3,811.27
1,90,381.11 1,54,788.36
Total Assets 3,19,652.77 2,88,298.93
EQUITY AND LIABILITIES
Equity
Equity Share Capital 14 2,719.86 2,719.86
Other Equity 15 1,84,716.30 1,68,918.57
Total Equity 1,87,436.16 1,71,638.43
Liabilities
Non-current liabilities
Financial Liabilities
(i) Lease liabilities 16 5,954.70 5,674.06
(ii) Other Financial Liabilities 17 130.08 123.70
Provisions 18 2,161.21 2,359.05
Other Non-Current Liabilities 20 36.10 40.15
8,282.09 8,196.96
Current liabilities
(i) Lease liabilities 16 1,220.23 1,222.09
(ii) Trade Payables 21
- Total outstanding dues of micro enterprises and small enterprises 703.69 1,269.34
- Total outstanding dues of creditors other than micro enterprises and small 87,486.70 74,843.06
enterprises
(iii) Other Financial Liabilities 22 4,142.33 3,773.42
Other Current Liabilities 23 12,582.70 12,788.81
Provisions 24 9,863.22 9,051.11
Current Tax Liabilities (Net) 31(e) 7,935.65 5,515.71
1,23,934.52 1,08,463.54
Total Liabilities 1,32,216.61 1,16,660.50
Total Equity and Liabilities 3,19,652.77 2,88,298.93
Significant accounting policies 1B
The accompanying notes are an integral part of these financial statements.
As per our report of even date. For and on behalf of the Board of Directors of Colgate-Palmolive (India) Limited
For S R B C & CO LLP M. S. Jacob Prabha Narasimhan
Chartered Accountants Whole-time Director & Managing Director &
Firm Registration No. 324982E/E300003 Chief Financial Officer Chief Executive Officer
(DIN : 07645510) (DIN : 08822860)
per Pritesh Maheshwari Surender Sharma
Partner Whole-time Director - Legal
Membership Number - 118746 & Company Secretary
(F-8913)
(DIN : 02731373)
Place : Mumbai Place : Mumbai
Date : May 14, 2024 Date : May 14, 2024
236
Statement of Profit and Loss

for the year ended March 31, 2024
Year Ended Year Ended

Note March 31, 2024 March 31, 2023
J Lakhs J Lakhs J Lakhs
Revenue from Operations 25 5,68,042.84 5,22,619.71

Other Income 26 7,652.20 5,357.59
(A) Total Income 5,75,695.04 5,27,977.30
Expenses
Cost of Materials Consumed 1,45,758.73 1,49,249.58
Purchases of Stock-in-Trade 24,491.33 29,776.86
Changes in inventories of Finished Goods, 27 2,048.26 391.94
Stock-in-Trade and Work-in-Progress
Employee Benefits Expense 28 41,172.84 37,696.99
Finance Costs 29 499.63 491.38
Depreciation and Amortisation Expense 3A 17,151.05 17,480.37
Other Expenses 30 1,64,490.48 1,50,802.04
(B) Total Expense 3,95,612.32 3,85,889.16
(C) Profit Before Exceptional Item and Tax (A-B) 1,80,082.72 1,42,088.14
(D) Exceptional Items 48 1,950.20 1,120.87
(E) Profit Before Tax (C-D) 1,78,132.52 1,40,967.27
Tax Expense: 31
Current Tax 49,365.56 37,242.69
Deferred Tax 19 (3,599.00) (990.07)
(F) Total Tax Expense 45,766.56 36,252.62
(G) Profit for the year (E-F) 1,32,365.96 1,04,714.65
Other Comprehensive Loss/ (Income) (net of Tax)
Items that will not be reclassified to Profit
and Loss
Re-measurement loss/(gains) on defined (30.74) 653.49
benefit plans
Tax adjustment on above 19 7.74 (164.47)
(H) Re-measurement loss/(gains) on defined (23.00) 489.02
benefit plans (Net of tax)
(I) Total Comprehensive Income (G-H) 1,32,388.96 1,04,225.63
Earnings Per Equity Share attributable to the 36
Owners of the Company (Rupees)
(Face Value of H 1 per Equity Share)
Basic and Diluted 48.67 38.50
Significant accounting policies 1B
The accompanying notes are an integral part of
these financial statements.

(DIN : 07645510) (DIN : 08822860)

(F-8913)
(DIN : 02731373)
Date : May 14, 2024 Date : May 14, 2024
237
Statement of Changes in Equity

(A) Equity Share Capital (Note 14)
Number of Amount
shares (in lakhs) (J in lakhs)
As at April 1, 2022 2,719.86 2,719.86
Increase / (Decrease) during the year - -
As at March 31, 2023 2,719.86 2,719.86
As at March 31, 2024 2,719.86 2,719.86
(B) Other Equity (Note 15)

(H in lakhs)
Share Options
Particulars Securities General Retained Total
Outstanding
Premium Reserve Earnings
Account
Balance as at April 1, 2022 1,279.93 38,437.13 222.30 1,30,808.54 1,70,747.90
Profit for the year - - - 1,04,714.65 1,04,714.65
Other Comprehensive Income - - - (653.49) (653.49)
Tax Adjustment on Other Comprehensive - - - 164.47 164.47
Income
Total Comprehensive Income for the - - - 1,04,225.63 1,04,225.63
year
Dividend paid [Refer Note 15 (iv)] - - - (1,06,074.39) (1,06,074.39)
Employee stock option expense - - 971.91 - 971.91
[Refer Note 38 (c)]
Transferred to Retained Earnings for - - (692.86) 692.86 -
employees transferred during the year
Payments made against liability created - - (750.24) - (750.24)
Amount credited by Group Company - - (270.26) - (270.26)
Tax Adjustment on Employee stock option - - 68.02 - 68.02
[Refer Note 31 (c)]
Balance as at March 31, 2023 1,279.93 38,437.13 (451.13) 1,29,652.64 1,68,918.57
Profit for the year - - - 1,32,365.96 1,32,365.96
Other Comprehensive Loss - - - 30.74 30.74
Tax Adjustment on Other - - - (7.74) (7.74)
Comprehensive Loss
Total Comprehensive Income for the year - - - 1,32,388.96 1,32,388.96
238
Statement of Changes in Equity

(B) Other Equity (Note 15) (Contd..)

(H in lakhs)
Share Options
Particulars Securities General Retained Total
Outstanding
Premium Reserve Earnings
Account
Dividend paid [Refer Note 15 (iv)] - - - (1,16,953.82) (1,16,953.82)
Employee stock option expense - - 1,204.21 - 1,204.21
[Refer Note 38 (c)]
Transferred from Share Options - - (105.84) 105.84 -
Outstanding account for employees
transferred during the year
Payments made against liability created - - (594.86) - (594.86)
Amount credited by Group Company - - (329.75) - (329.75)
Tax Adjustment on Employee stock option - - 82.99 - 82.99
[Refer Note 31 (c)]
Balance as at March 31, 2024 1,279.93 38,437.13 (194.38) 1,45,193.62 1,84,716.30
Significant accounting policies (Refer Note 1B)
The accompanying notes are an integral part of these financial statements.

(DIN : 07645510) (DIN : 08822860)

(F-8913)
(DIN : 02731373)
Date : May 14, 2024 Date : May 14, 2024
239
Statement of Cash Flow


March 31, 2024 March 31, 2023
(J in lakhs) (J in lakhs)
Cash flow from Operating Activities:
Profit before Exceptional items and Tax 1,78,132.52 1,40,967.27
Adjustment for:
Unrealised Foreign Exchange Loss 1.65 41.89
Depreciation and Amortisation Expenses 17,151.05 17,480.37
Lease Rentals received (258.69) (248.06)
Net loss / (profit) on disposal of property, plant and equipment 25.04 (31.28)
Interest Income On Financial Assets at Amortized Cost (7,129.68) (3,990.35)
Finance Cost 499.63 491.38
Bad Debts Written Off/ Provision for Doubtful Debts 15.19 3.29
Provisions no Longer Required Written Back - (90.65)
Interest income from Unwinding of discount on security deposits (158.59) (109.91)
Employee share-based payment expense 1,204.21 971.91
Operating Profit before Working Capital Changes 1,89,482.33 1,55,485.86
Adjustment for Increase/Decrease in Working Capital:
Decrease in Inventories 3,903.59 2,173.81
(Increase) in Financial Assets (37,579.59) (1,724.85)
(Increase) in Other Assets (1,565.03) (601.11)
Increase / (Decrease) in Financial Liabilities 12,083.41 (1,093.86)
Increase in Other Liabilities and Provisions 434.65 1,473.76
Cash Generated from Operations 1,66,759.36 1,55,713.61
Direct Taxes Paid (Net) (46,862.98) (38,087.29)
Net Cash Generated from Operating Activities (A) 1,19,896.38 1,17,626.32
Cash Flow from Investing Activities:
Purchase of Property, Plant and Equipment (7,556.40) (7,008.94)
Proceeds from disposal of Property, Plant and Equipment 3.46 59.72
Purchase of Current Investments / Proceeds from disposal of 8,282.42 2,205.59
Current Investments
Lease Rentals received 258.69 248.06
Interest Received 6,935.78 3,740.80
Net Cash (used in)/ Cash flow from Investing Activities (B) 7,923.95 (754.77)
Cash Flow from Financing Activities:
Dividends Paid (1,16,702.57) (1,05,745.18)
Payment of Lease Liabilities (1,899.49) (1,906.83)
Employee share-based payments (924.61) (1,020.50)
Net Cash used in Financing Activities (C) (1,19,526.67) (1,08,672.51)
Net increase/ (decrease) in Cash and Cash Equivalents (A+B+C) 8,293.66 8,199.04
Cash and Cash Equivalents at the beginning of the year 80,605.68 72,406.64
Cash and Cash Equivalents at the end of the year 88,899.34 80,605.68
Bank Balances in:
Current Accounts 4,792.01 969.36
Deposit Accounts (with less than 3 months original maturity) 84,107.33 79,636.32
Cash and Cash Equivalents as at March 31, 2024 (Refer Note 9) 88,899.34 80,605.68
240
Statement of Cash Flow

for the year ended March 31, 2024 (Contd.)

March 31, 2024 March 31, 2023
Changes in liabilities arising from Financing Activities:
1) Dividend
Unpaid Dividend as at beginning of the year 3,393.84 3,064.63
Dividend Declared 1,16,953.82 1,06,074.39
Dividend Paid (1,16,702.57) (1,05,745.18)
Dividend as at year end (Including unpaid) 3,645.09 3,393.84
2) Lease Liabilities
Lease Liabilities as at beginning of the year 6,896.15 8,305.36
Additions during the year 1,678.64 6.24
Finance Charges paid under Lease Liabilities during the year 499.63 491.38
Payment of Lease Liabilities during the year (1,899.49) (1,906.83)
Lease Liabilities as at year end 7,174.93 6,896.15
Notes:
1. The Cash Flow Statement has been prepared under the 'Indirect Method' as set out in Ind AS 7 on Statement of Cash
Flow as notified under Companies (Accounts) Rules, 2015.

(DIN : 07645510) (DIN : 08822860)

(F-8913)
(DIN : 02731373)
Date : May 14, 2024 Date : May 14, 2024
241
Notes to the Financial Statements

1A. Corporate Information: • Defined Benefit Plans - plan assets measured at

fair value; and
Colgate-Palmolive (India) Limited is a subsidiary of
Colgate-Palmolive, USA and a listed Company in India. • Share-Based payments.
The Company was incorporated on September 23,
iii. Current versus Non-current classification
1937 under the provisions of The Companies Act. The
registered office of the company is located at Colgate The Company presents assets and liabilities in
Research Center, Main street, Hiranandani Gardens, the balance sheet based on current/ non-current
Powai, Mumbai - 400076. Its shares are listed on two classification. An asset is treated as current when it is:
recognized stock exchanges in India. The Company
is engaged in manufacturing/trading of toothpaste, • Expected to be realized or intended to be sold
tooth powder, toothbrush, mouthwash and personal or consumed in normal operating cycle
care products.
• Held primarily for the purpose of trading
These financial statements for the year ended March
31, 2024 were approved by the Board of Directors on • Expected to be realized within twelve months
May 14, 2024. after the reporting period, or
• Cash or cash equivalent unless restricted from

1B. Material Accounting Policies: being exchanged or used to settle a liability for
at least twelve months after the reporting
The material accounting policies applied in the period
preparation of these financial statements are set out
below. These policies have been consistently applied to All other assets are classified as non-current.
all the years presented, unless otherwise stated.
A liability is current when:
(a) Basis of preparation
• It is expected to be settled in normal operating
i. Compliance with Ind AS cycle
The financial statements comply in all material • It is held primarily for the purpose of trading
aspects with Indian Accounting Standards (Ind AS)
notified under Section 133 of the Companies Act, • It is due to be settled within twelve months after
2013 (the Act) and Companies (Indian Accounting the reporting period, or
Standards) Rules, 2015 (as amended from time to
time) and presentation requirements of Division II • There is no unconditional right to defer the
of Schedule III to Companies Act, 2013, (Ind AS settlement of the liability for at least twelve
compliant Schedule III), as applicable to financial months after the reporting period
statements. The Company classifies all other liabilities as non-
The financial statements are presented in H and all current.
values are rounded to the nearest lakhs (H 00,000), Deferred tax assets and liabilities are classified as
except when otherwise indicated. non-current assets and liabilities.
ii. Historical Cost Convention Based on the nature of products and the time
These financial statements have been prepared on between the acquisition of assets for processing
a historical cost basis, except as disclosed in the and their realization in cash and cash equivalents,
accounting policies below: the Company has ascertained its operating cycle
as twelve months for the purpose of current / non-
• Certain financial assets and liabilities are current classification of assets and liabilities.
measured at fair value;
242

(b) Foreign currency translation benefits are expected from its use or disposal. Any
i. Functional and presentation currency gain or loss arising on derecognition of the asset
(calculated as the difference between the net
Items included in the financial statements of the disposal proceeds and the carrying amount of the
Company are measured using the currency of the asset) is included in the statement of profit and loss
primary economic environment in which the entity when the asset is derecognized.
operates ('the functional currency'). The financial
statements are presented in Indian currency Capital Work-In-Progress
(INR), which is the Company's functional and
Cost and direct expenses incurred for construction of
presentation currency.
assets or assets to be acquired, which are not ready to
ii. Transactions and balances use in the manner intended by the management are
disclosed under Capital Work- In-Progress.
Foreign currency transactions are translated into
the functional currency using the exchange rates Depreciation methods, estimated useful lives and
at the dates of the transactions. Realized gains residual value
and losses on settlement of foreign currency
The useful lives of the assets are based on technical
transactions are recognized in the Statement of
estimates approved by the Management, and are lower
Profit and Loss. Foreign currency denominated
than or same as the useful lives prescribed under
monetary assets and liabilities at the year-end are
schedule II to the Companies Act, 2013 in order to
translated at the year-end exchange rates, and the
reflect the period over which depreciable assets are
resultant exchange difference is recognized in
expected to be used by the Company. Depreciation is
the Statement of Profit and Loss. Non-monetary
calculated on a pro-rata basis on the straight line
foreign currency items are carried at cost.
method so as to write-down the cost of property, plant
(c) Property, plant and equipment and equipment to its residual value systematically over
Property, plant and equipment are stated at its estimated useful life based on useful life of the
historical cost less depreciation and impairment assets as prescribed under Part C of Schedule II to the
loss, if any. Historical cost includes expenditure that Companies Act, 2013 except in case of following assets,
is directly attributable to the acquisition of the items wherein based on internal assessment and technical
including capital spares which are identified as a evaluation, a different useful life has been determined.
part of property, plant and equipment.
Asset Class Useful Life
Subsequent costs are included in the asset's
Residential and Office Buildings 40 years
carrying amount or recognized as a separate asset,
Factory Buildings 20 years
as appropriate, only when it is probable that future
Plant and Equipment 7 to 15 years
economic benefits associated with the item will
Dies and Moulds (included in 3 years
flow to the Company and the cost of the item can
Plant and Equipment)
be measured reliably. The carrying amount of any
Furniture and Fixtures 5 years
component accounted for as a separate asset is
Office Equipment (including 5 years
derecognized when replaced. All other repairs and
Computer Servers)
maintenance are charged to the Statement of Profit
and Loss during the reporting period in which they
are incurred. Estimated useful lives, residual values and depreciation
methods are reviewed annually, taking into account
An item of property, plant and equipment and any commercial and technological obsolescence as well as
significant part initially recognized is derecognized normal wear and tear and adjusted prospectively, if
upon disposal or when no future economic appropriate.
243

(d) Leases liabilities is increased to reflect the accretion of

As a Lessee interest and reduced for the lease payments made.
In addition, the carrying amount of lease liabilities is
The Company assesses whether a contract is or re-measured if there is a modification or a change in
contains a lease, at inception of a contract. A the lease term. The Company separately recognizes
contract is, or contains, a lease if the contract the interest expense on the lease liability as finance
conveys the right to control the use of an identified cost and the depreciation expense on the right-of-
asset for a period of time in exchange for use asset.
consideration. To assess whether a contract conveys
the right to control the use of an identified asset, The Company accounts for a lease modification as a
the Company assesses whether: separate lease when both of the following conditions
are met:
(i) the contract involves the use of an identified
asset • The modification increases the scope of the
lease by adding the right to use one or more
(ii) the Company has substantially all of the underlying assets.
economic benefits from use of the asset through
the period of the lease and • The consideration for the lease increases
commensurate with the standalone price for the
(iii) the Company has the right to direct the use of increase in scope and any adjustments to that
the asset. stand-alone price reflects the circumstances of
the particular contract.
At the commencement date of a lease, the
Company recognizes a liability to make lease For a lease modification that fully or partially
payments (i.e., the lease liability) and an asset decreases the scope of the lease the Company
representing the right to use the underlying asset decreases the carrying amount of the right-of-use
during the lease term (i.e., the right-of-use asset). asset to reflect partial or full termination of the
Right-of-use assets are measured at cost, less any lease. Any difference between those adjustments is
accumulated depreciation, impairment losses and recognized in profit or loss at the effective date of
adjusted for any re-measurement of lease liabilities. the modification.
The cost of right-of-use assets includes the amount
of lease liabilities recognized and lease payments The Company has elected to use the exemptions
made at or before the commencement date. Right- proposed by the standard on lease contracts for
of-use assets are depreciated on a straight-line basis which the lease terms ends within 12 months as of
over the shorter of the lease term and the estimated the date of initial application, and lease contracts
useful lives of the assets. If ownership of the leased for which the underlying asset is of low value which
asset transfers to the Company at the end of the is considered to be H 3.5 Lakhs.
lease term or the cost reflects the exercise of a
As a Lessor
purchase option, depreciation is calculated using
the estimated useful life of the asset. Leases in which the Company does not transfer
substantially all the risks and rewards incidental to
The Company recognizes lease liabilities measured
ownership of an asset are classified as operating
at the present value of lease payments to be made
leases. Rental income arising is accounted for on a
over the lease term. The lease payments also include
straight-line basis over the lease terms. Initial direct
the exercise price of a purchase option reasonably
costs incurred in negotiating and arranging an
certain to be exercised by the Company. In
operating lease are added to the carrying amount of
calculating the present value of lease payments, the
the leased asset and recognized over the lease term
Company uses its incremental borrowing rate at the
on the same basis as rental income. Contingent rents
lease commencement date.
are recognized as revenue in the period in which they
After the commencement date, the amount of lease are earned.
244

(e) Investment property Expenditure on research is recognized as an expense

Property that is held for long-term rental yields or when it is incurred. Development costs of products
for capital appreciation or both, and that is not are also charged to the Statement of Profit and Loss
occupied by the Company, is classified as investment unless all the criteria for capitalization have been met
property. Investment property is measured initially by the Company. Development expenditures on an
at its cost, including related transaction costs and individual project are recognized as an intangible
where applicable borrowing costs. Subsequent asset when the Company can demonstrate:
expenditure is capitalized to the asset's carrying
• The technical feasibility of completing the
amount only when it is probable that future
intangible asset so that the asset will be available
economic benefits associated with the expenditure
for use or sale
will flow to the Company and the cost of the item
can be measured reliably. All other repairs and • Its intention to complete and its ability and
maintenance costs are expensed when incurred. intention to use or sell the asset
Investment properties are depreciated using the • How the asset will generate future economic
straight-line method over their estimated useful lives benefits
which are 40 years.
• The availability of resources to complete the asset
Though the Company measures investment property
using cost based measurement, the fair value of • The ability to measure reliably the expenditure
investment property is disclosed in the notes. Fair during development
values are determined based on an annual evaluation
performed by an accredited external independent (g) Impairment of non-financial assets
valuer. At each balance sheet date, the Company reviews
whether there is an indication that an asset may be
Investment properties are derecognized either when impaired. If any indication exists, the company
they have been disposed of or when they are estimates the recoverable amount of its assets other
permanently withdrawn from use and no future than inventory and deferred tax. An impairment loss
economic benefit is expected from their disposal. is recognized when the carrying amount of an asset
The difference between the net disposal proceeds exceeds its recoverable amount. The recoverable
and the carrying amount of the asset is recognized amount is determined as higher of the asset's fair
in profit or loss in the period of de-recognition. value less costs of disposal and value in use. For the
purpose of assessing impairment, assets are grouped
(f) Intangible assets
at the levels for which there are separately identifiable
Intangible Assets are stated at acquisition cost, net cash flows (cash generating unit). Assessment is done
of accumulated amortization and accumulated at each Balance Sheet date as to whether there is any
impairment loss, if any. indication that an impairment loss recognized for an
asset in the prior accounting period may no longer
Amortization
exist or may have decreased. An impairment loss is
Intangible assets comprise Goodwill, Trademarks, reversed to the extent that the assets carrying
Copyright and Technical Know-how. Intangible assets amount does not exceed the carrying amount that
(other than Goodwill) are amortized over the useful would have been determined if no impairment loss
life of assets, not exceeding 10 years. had previously been recognized.
The estimated useful life and amortization methods (h) Inventories

are reviewed at the end of each annual reporting Inventories of raw and packing materials, stores,
period, with the effect of any changes in the work-in-progress, finished goods and stock in trade
estimate being accounted for on a prospective basis. are valued at lower of cost or net realizable value.
245

- Cost is determined using standard cost method • those to be measured subsequently at fair value
that approximates actual cost. (either through other comprehensive income,
or through profit or loss), and
- Cost of work-in-progress and finished goods
includes materials, labour and manufacturing • those measured at amortized cost.
overheads and other costs incurred in bringing
the inventories to their present location and The classification depends on the entity's business
condition. model for managing the financial assets and the
contractual terms of the cash flows. For assets
Spares that do not qualify to be recognized as measured at fair value, gains and losses will either
Property, Plant and Equipment are included in stores be recorded in the Statement of Profit and Loss or
and spares. other comprehensive income. For investments in
debt instruments, this will depend on the business
Net realizable value is the estimated selling price in model in which the investment is held. For
the ordinary course of business, less the estimated investments in equity instruments, this will depend
costs of completion and the estimated costs on whether the Company has made an irrevocable
necessary to make the sale. election at the time of initial recognition to account
for the equity investment at fair value through other
(i) Trade Receivables
comprehensive income.
Trade receivables are measured at contracted price
and subsequently measured at amortized cost net Amortized cost
of any expected credit losses, if any. The Company
provides for expected credit loss using simplified Assets that are held for collection of contractual
approach based on the probability of defaults which cash flows where those cash flows represent solely
are possible over the lifetime of assets. payments of principal and interest are measured at
amortized cost. A gain or loss on a debt investment
(j) Cash and Cash equivalents that is subsequently measured at amortized cost is
For the purpose of presentation in the Statement of recognized in Statement of Profit and Loss when
cash flows, cash and cash equivalents include cash in the asset is derecognized or impaired. Interest
hand, demand deposits with banks and other short- income from these financial assets is included in
term highly liquid investments with original maturities finance income using the effective interest rate
of three months or less that are readily convertible to method.
known amounts of cash and which are subject to an
insignificant risk of changes in value. Fair value through Other Comprehensive Income
(FVOCI)
(k) Financial Assets:
Assets that are held for collection of contractual cash
i. Initial recognition and measurement
flows and for selling the financial assets, where the
All financial assets are recognized initially at fair assets cash flows represent solely payments of
value plus transaction costs that are attributable to principal and interest, are measured at fair value
the acquisition of the financial asset, except in the through other comprehensive income (FVOCI).
case of financial assets not recorded at fair value Movements in the carrying amount are taken through
through profit or loss. Transaction costs of financial OCI, except for the recognition of impairment gains
assets carried at fair value through profit or loss are or losses, interest revenue and foreign exchange gains
expensed through the Statement of Profit and Loss. and losses which are recognized in the Statement
of Profit and Loss. When the financial asset is
Subsequent measurement derecognized, the cumulative gain or loss previously
recognized in OCI is reclassified from equity to
For purposes of subsequent measurement, the Statement of Profit and Loss. Interest income from
Company classifies its financial assets in the these financial assets is included in other income
following measurement categories: using the effective interest rate method.
246

Fair value through Profit or Loss (FVTPL) ii. Initial recognition and measurement
Assets that do not meet the criteria for amortized Financial liabilities are recognized when the Company
cost or FVOCI are measured at fair value through becomes a party to the contractual provisions of the
profit or loss. A gain or loss on a debt investment instrument. Financial liabilities are initially measured
that is subsequently measured at fair value through at the amortized cost unless at initial recognition,
Profit or Loss is recognized in the Statement of Profit they are classified as fair value through profit or loss.
and Loss in the period in which it arises. Interest
income from these financial assets is included in iii. Subsequent measurement
other income.
Financial liabilities are subsequently measured at
ii. Derecognition amortized cost using the effective interest rate
method. Financial liabilities carried at fair value
A financial asset is derecognized only when: through profit or loss is measured at fair value with
all changes in fair value recognized in the Statement
• the rights to receive cash flows from the of Profit and Loss.
financial asset have expired, or
iv. Derecognition
• the Company has transferred its rights to receive
cash flows from the financial asset or has A financial liability is derecognized when the
assumed an obligation to pay the received cash obligation specified in the contract is discharged,
flows to one or more recipient cancelled or expires.
Where the entity has transferred an asset, the Trade and other payables
Company evaluates whether it has transferred
substantially all risks and rewards of ownership of These amounts represent liabilities for goods and
the financial asset. In such cases, the financial services provided to the Company prior to the end
asset is derecognized. Where the entity has not of financial year which are unpaid. The amounts
transferred substantially all risks and rewards of are usually unsecured. Trade and other payables
ownership of the financial asset, the financial asset are presented as current liabilities unless payment
is not derecognized. is not due within twelve months after the reporting
period. They are recognized initially at their fair
Where the entity has neither transferred a financial value.
asset nor retains substantially all risks and rewards
of ownership of the financial asset, the financial Provisions
asset is derecognized if the company has not
The Company recognizes a provision when there
retained control of the financial asset. Where the
is a present legal or constructive obligation as a
Company retains control of the financial asset, the
result of a past event that probably requires an
asset is continued to be recognized to the extent
outflow of resources and a reliable estimate can be
of continuing involvement in the financial asset.
made of the amount of the obligation.
Expected credit losses are recognized for all
financial assets subsequent to initial recognition. Provisions are measured at the present value of
management's best estimate of the expenditure
(l) Financial Liabilities
required to settle the present obligation at the end
i. Classification as liability or equity of the reporting period. The discount rate used to
determine the present value is a pre-tax rate that
Financial liabilities and equity instruments issued
reflects current market assessments of the time
by the Company are classified according to the
value of money and the risks specific to the liability.
substance of the contractual arrangements entered
The increase in the provision due to the passage of
into and the definitions of a financial liability and an
time is recognized as an interest expense.
equity instrument.
247

Contingent Liability unbilled revenue or significant amounts of

prepayments from customers.
A disclosure for a contingent liability is made when
there is a possible obligation or a present obligation The company pays sales commission to its
that may, but probably will not, require an outflow employees for contract that they obtain for sales of
of resources. Where there is a possible obligation or goods and immediately expensed out sales
a present obligation that the likelihood of outflow of commissions (included under employee benefits).
resources is remote, no provision or disclosure is
made. Contract balances
(m) Revenue from operations Contract liabilities

i. Sale of goods A contract liability is the obligation to transfer
goods or services to a customer for which the
The Company's revenue contracts represent a
Company has received consideration (or an amount
single performance obligation to sell its products to
of consideration is due) from the customer. If a
trade customers. Sales are recorded at the time
customer pays consideration before the Company
control of the products is transferred to trade
transfers goods or services to the customer, a
customers, in an amount that reflects the
contract liability is recognized when the payment is
consideration the Company expects to be entitled
made or the payment is due (whichever is earlier).
to in exchange for the products. Control is the
Contract liabilities are recognized as revenue when
ability of trade customers to direct the use of and
the Company performs its obligation to transfer
obtain the benefit from our products. In evaluating
goods or services under the contract.
the timing of the transfer of control of products to
trade customers, the Company considers transfer of ii. Service Income
significant risks and rewards of products and the
probability of flowing of future economic benefit Service Income is recognized on cost plus basis as
to the Entity as per the terms of the Contract which per the terms of the contract with customers, as
usually coincide with the delivery of the goods. and when the service is performed.
Revenue is measured on the basis of contracted iii. Interest income

price and reduced by variable consideration. Variable
consideration includes sales returns, trade discounts, Interest income from debt instruments is recognized
volume based incentives, and cost of promotional using the effective interest rate method. The effective
programs, indirect taxes as may be applicable. interest rate is the rate that exactly discounts
estimated future cash receipts through the expected
The Company provides volume based incentives to life of the financial asset to the gross carrying amount
certain customers once the quantity of products of a financial asset. When calculating the effective
purchased during the period exceeds a threshold interest rate, the Company estimates the expected
specified in the contract. Incentives are offset cash flows by considering all the contractual terms of
against amounts payable by the customer. To the financial instrument but does not consider the
estimate & recognize a liability for the incentives, expected credit losses.
the Company applies methods which best predicts
the amount of incentive and is primarily driven by iv. Rental income
the number of volume thresholds contained in the Rental income from operating leases where the
contract. The volume incentive is estimated at Company is a lessor is recognized in income on a
contract inception and recognized when it is highly straight-line basis over the lease term unless the
probable that significant revenue reversal will not receipts are structured to increase in line with
occur. expected general inflation to compensate for the
Company's contracts with trade customers do not expected inflationary cost increases. The respective
have significant financing components or non-cash leased assets are included in the balance sheet
consideration and the Company does not have based on their nature.
248

v. Government Grant employment. The Company's liability is

actuarially determined (using the Projected Unit
Government grants are recognized where there is Credit method) at the end of each year. The
reasonable assurance that the grant will be received, benefits are discounted using the market yields
and all attached conditions will be complied with. at the end of the reporting period that have
When the grant relates to an expense item, it is terms approximating to the terms of the related
recognized as income on a systematic basis over the obligation. Remeasurement gains and losses
periods that the related costs, for which it is intended arising from experience adjustments and
to compensate, are expensed. Ind AS 20 permits the changes in actuarial assumptions are recognized
grant to be recognized in profit or loss. The Company in the period in which they occur directly in
has chosen to present grants related to an expense other comprehensive income. They are included
item as other operating income in the statement of in retained earnings in the Statement of changes
profit and loss. in Equity and in the Balance Sheet. Changes in
the present value of the defined benefit
(n) Employee Benefits
obligation resulting from plan amendments or
i. Short Term Employee Benefits
curtailments are recognized immediately in the
Liabilities for salaries, wages and performance Statement of profit and loss as past service cost.
incentives including non-monetary benefits that are Remeasurements are not reclassified to Profit or
expected to be settled wholly within twelve months Loss in subsequent periods.
after the end of the period in which the employees
The net interest cost is calculated by applying
render the related service are recognized in respect
the discount rate to the net balance of the
of employees services up to the end of the
defined benefit obligation and the fair value of
reporting period and are measured at the amounts
plan assets. This cost is included in employee
expected to be paid when the liabilities are settled.
benefit expense in the Statement of Profit and
The liabilities are presented as current employee
Loss.
benefits obligations in the Balance Sheet.
Provident Fund:
ii. Long Term Employee Benefits
In respect of certain employees, Provident Fund
• Defined Contribution Plans
contributions are made to a Trust administered
Provident Fund, Superannuation Fund and by the Company. The interest rate payable by
Employee's State Insurance: the trust to the beneficiaries every year is
notified by the Government. The Company has
The Company has Defined Contribution Plans
an obligation to make good the shortfall, if any,
for its employees such as Provident Fund,
between the return from the investment of the
Superannuation Fund, Employee's State Insurance
trust and interest as per the notified rate. The
etc. and contribution to these plans are charged
Company's liability is actuarially determined
to the Statement of Profit and Loss as incurred,
(using the Projected Unit Credit Method) at the
as the Company has no further obligation
end of the year. Measurement gains and losses
beyond making the contributions.
arising from experience adjustments and
• Defined Benefit Plans changes in actuarial assumptions are recognized
Gratuity: in the period in which they occur directly in
other comprehensive income. They are included
The Company provides for gratuity, a defined in retained earnings in the Statement of changes
benefit plan (the 'Gratuity Plan') covering eligible in Equity and in the Balance Sheet. Changes in
employees in accordance with the Payment of the present value of the defined benefit
Gratuity Act, 1972. The Gratuity Plan provides a obligation resulting from plan amendments or
lump sum payment to vested employees at curtailments are recognized immediately in the
retirement, death, incapacitation or termination Statement of profit and loss as past service cost.
of employment, of an amount based on the Remeasurements are not reclassified to Profit or
respective employee's salary and the tenure of Loss in subsequent periods.
249

Compensated Absences: A restricted stock unit (RSU) provides an

employee with a share of Colgate Palmolive
Accumulated compensated absences, which are Company common stock upon vesting. Restricted
expected to be availed or encashed within 12 stock units vest in annual installments generally
months from the end of the year and are treated over a period of three years. Dividends will accrue
as short term employee benefits. The obligation with each restricted stock unit award granted
towards the same is measured at the expected subsequent to grant date.
cost of accumulating compensated absences as
the additional amount expected to be paid as a Employee Stock Options (ESOPs') issued by the
result of the unused entitlement as at the year parent entity are accounted for as equity-settled
end. as the Company has no obligation to settle the
share-based payment transaction and also the
Accumulated compensated absences, which shares are of parent Company.
are expected to be availed or encashed beyond
12 months from the end of the year end are Company recognizes the expense over the
treated as other long term employee benefits. vesting period, which is the period over which
The Company's liability is actuarially determined all of the specified vesting conditions are to be
(using the Projected Unit Credit method) at the satisfied, as determined on the grant date,
end of each year. Actuarial losses/gains are based on the fair value of the options/RSUs. At
recognized in the Statement of Profit and Loss the end of each period, the entity revises its
in the year in which they arise. estimates of the number of options that are
expected to vest based on the non-market
Voluntary Retirement Scheme: vesting and service conditions. It recognizes
the impact of the revision to original estimates,
Expenditure on voluntary retirement scheme is
if any, in the Statement of Profit and Loss, with
charged to the Statement of Profit and Loss in
a corresponding adjustment to equity.
the year in which incurred.
In case where there is a clear link between the
Share based Payments
recharge from the parent company and the
The Company does not provide any equity- expense, Company accounts for the recharge
based compensation to its employees. However, as capital distribution even if the amount of
the parent Company, Colgate Palmolive recharge is more than the expense recognized
Company, U.S.A. ('the grantor') maintains equity over the vesting period (as the recharge is
incentive plans that provide for the grant of based on the intrinsic value).
stock-based awards to its executive directors and
In case where the employee has not served the
certain categories of officers and employees.
Company during the vesting period and for
The 2009 Executive Incentive Compensation
which they get the debit note from parent,
Plan and 2013 Incentive Compensation Plan
the cost is debited to management recharge
('Incentive Plan') provides for the grant of non-
expense.
qualified and incentive stock options, as well as
restricted stock units which are together referred Further, where the management recharge is
to as employee stock options. Exercise prices in not expected from the parent entity as the
the case of non-qualified and incentive stock employee has been relocated to another group
options are not less than the fair value of the company i.e. the employee is not expected to
underlying common stock of the grantor on the render future services to the Company at the
date of grant. time of exercise of option, the Company
transfers the proportionate amount of share
A stock option gives an employee, the right to
options outstanding account related to such
purchase shares of Colgate Palmolive Company
employees to Retained Earnings, after taking
common stock at a fixed price for a specific
into consideration the probability of employees
period of time. Stock options generally have a
re-locating back to the Company.
term of six years and vest over three years.
250

(o) Income Tax profit or loss is recognized either in other

Tax expense for the period, comprising current tax comprehensive income or in equity. Deferred
and deferred tax, are included in the determination tax items are recognized in correlation to the
of the net profit or loss for the period. Current tax is underlying transaction either in OCI or directly
measured at the amount expected to be paid to in equity. Unrecognized deferred tax assets are
the tax authorities in accordance with prevailing re-assessed at each reporting date and are
income tax law. Management periodically evaluates recognized to the extent that it has become
positions taken in the tax returns with respect to probable that future taxable profits will allow
situations in which applicable tax regulations are the deferred tax asset to be recovered.
subject to interpretation and establishes provisions
Deferred tax assets and deferred tax liabilities are
where appropriate.
offset when there is a legally enforceable right to
The Company evaluates whether it has any uncertain set off assets against liabilities representing
tax positions which requires adjustments to provision current tax and where the deferred tax assets and
for current tax. The Company has ongoing disputes deferred tax liabilities relate to taxes on income
with Income Tax Authorities on various matters. levied by the same governing taxation laws.
In respect of certain allowance/deductions, it is
(p) Segment Reporting
probable that such positions will not be accepted by
Tax authorities and hence the same has been Operating segments are reported in a manner
considered and adequately provided for while consistent with the internal reporting provided to
calculating current tax provision of the respective the Chief Operating Decision Maker ('CODM'). The
years. In respect of certain allowances/ deductions CODM, who is responsible for allocating resources
taken by the Company, it is probable that such and assessing performance of the operating
disputes will be accepted by Tax authorities and segments, has been identified as the Managing
hence the same have been considered and disclosed Director and Chief Financial Officer of the Company.
as a part of Contingent Liability. The Company has identified 'Personal Care
(including Oral Care)' as its only primary reportable
• Current Tax segment, which primarily includes products such as
Soaps, Cosmetics and Toilet Preparations.
Current tax assets and current tax liabilities are
offset when there is a legally enforceable right to (q) Cash Flow Statement
set off the recognized amounts and there is an Cash flows are reported using the indirect method,
intention to settle the asset and the liability on a whereby profit before tax is adjusted for the effects of
net basis. transactions of non-cash nature and any deferrals or
• Deferred Tax accruals of past or future cash receipts or payments.
Deferred tax is recognized for all the deductible (r) Offsetting Financial Instruments
temporary differences by using the liability Financial assets and liabilities are offset and the net
method, only to the extent that there is a amount reported in the balance sheet when there is
reasonable certainty that sufficient future taxable a legally enforceable right to offset the recognized
income will be available against which such amounts and there is an intention to settle on a net
deferred tax assets can be realized. Deferred tax basis, or realize the asset and settle the liability
assets and liabilities are measured using the tax simultaneously.
rates and tax laws that have been enacted or
substantively enacted by the Balance Sheet date. (s) Contributed Equity
At each Balance Sheet date, the Company Ordinary shares are classified as equity. Incremental
reassesses unrecognized deferred tax assets, if costs directly attributable to the issue of new shares
any. or options are shown in equity as a deduction, net
of tax.
Deferred tax relating to items recognized outside
251

(t) Earnings Per share and assumptions turning out to be different than
i. Basic Earnings per Share those originally assessed. Detailed information about
each of these estimates and judgments is included in
Basic earnings per share are calculated by dividing: relevant notes.
• the profit attributable to owners of the Company The areas involving critical estimates or judgments are:
• By the weighted average number of equity - Estimation of defined benefit obligation (Refer
shares outstanding during the financial year. Note 1B(n) and Note 28)
ii. Diluted Earnings per share - Estimation of Useful life of Property, plant and
equipment and intangibles (Refer Note 1B(c) and
Diluted earnings per share adjust the figures used in Note 3)
the determination of basic earnings per share to
take into account: - Estimation of taxes (Refer Note 1B(o), Note 19 and
31)
• the after income tax effect of interest and other
financing costs associated with dilutive potential - Estimation of impairment of trade receivables
equity shares, and (Refer Note 1B(i) and Note 8)
• The weighted average number of additional - Estimation of provision and contingent liabilities
equity shares that would have been outstanding (Refer Note 1B(l)(iv), Note 24 and 32)
assuming the conversion of all dilutive potential
- Estimation of Share based payments to
equity shares.
employees (Refer Note 1B(n) and Note 38)
2. Critical accounting estimates and judgments - Estimation of variable consideration in respect of

revenue recognition (Refer Note 1B(m) and Note
The preparation of financial statements requires the 25)
use of accounting estimates which, by definition, will
seldom equal the actual results. This note provides an Estimates and judgments are continually evaluated.
overview of the areas that involved a higher degree They are based on historical experience and other
of judgment or complexity, and of items which are factors, including expectations of future events that
more likely to be materially adjusted due to estimates may have a financial impact on the Company and that
are believed to be reasonable under the circumstances.
252
Note 3 (A) (I) : Property, Plant and Equipment

(H in lakhs)
Net Carrying
Gross Carrying Amount Accumulated Depreciation/Amortisation
Amount
Cost / Gross
Particulars Disposals/ As at As at Depreciation/ Disposals/ As at As at
carrying value Additions/
Transfers/ March 31, April 1, Amortisation Transfers/ March 31, March 31,
as at Adjustments
Adjustments 2024 2023 for the year Adjustments 2024 2024
April 1, 2023
Right-of-use assets [Refer 3 (D) (I)] 23,299.16 1,815.22 - 25,114.38 9,173.17 1,929.35 - 11,102.52 14,011.86
Buildings [Refer Note (ii) and (iv) 43,944.87 624.74 8.24 44,561.37 17,080.37 2,369.08 1.45 19,448.00 25,113.37
below]
Plant and Equipment (Owned) 1,34,005.31 5,905.57 477.91 1,39,432.97 91,549.91 11,743.97 462.05 1,02,831.83 36,601.14
Corporate Overview
Furniture and Fixtures 2,128.61 154.48 84.27 2,198.82 2,088.60 101.70 83.93 2,106.37 92.45
Office Equipment 8,766.48 1,900.69 98.04 10,569.13 6,072.42 1,006.95 98.01 6,981.36 3,587.77
Total Assets 2,12,144.43 10,400.70 668.46 2,21,876.67 1,25,964.47 17,151.05 645.44 1,42,470.08 79,406.59
Capital Work-in-Progress 11,028.40
[Refer Note 3 B below]
(i) Land - Leasehold includes lease rights in respect of the land in the possession of the Company under Lease with Industrial Area Development Agency at
Sustainability and Us
Baddi, Goa Industrial Development Corporation at Goa and Sri city (P) Limited at Sricity, Andhra Pradesh, Gujarat Industrial Development Corporation (GIDC)
at Sanand.
(ii) Buildings include : (a) Factory Building at Sewri and leasehold rights in the land on which the building stands. While the ownership of the Factory Building is in
the name of the Company, the Mumbai Port Trust (MPT) has not yet effected formal transfer of lease rights in the said land, in favour of the Company. The
value of leasehold rights in the said land is H Nil. As regards the plot of land adjoining the factory building, MPT has revoked its offer of assignment. The
Company has made a representation to MPT in this respect and the matter is pending. The Company has taken legal opinion and is taking necessary legal
Statutory Reports
steps for surrender of the land and contesting the demand. Further refer Note 33, (b) Research Centre at Powai, Mumbai, (c) Factory Building at Baddi, (d)
Factory Buildings at Goa, (e) Factory Buildings at Sanand and (f) Factory Building at Sricity.
(iii) Refer to Note 34 for disclosures of capital commitments for the acquisition of property, plant and equipment.
(iv) Buildings include investment property with net carrying value of H 176.41 Lakhs (March 31, 2023 : H 188.98 Lakhs) and fair value of H 3,434 Lakhs (March 31,
2023 : H 3,260 Lakhs). Fair value is determined based on an annual evaluation performed by an accredited external independent valuer using the sales
comparison method of valuation under market approach in which due weightages have been given to factors such as right to sell/transfer the property,
demand and prospective buyers for such type of commercial offices etc. The significant unobservable inputs considered includes total of Weighted
reconciliation is H 21,800/- per square feet. The rental income and depreciation expense for the year ended March 31, 2024 are H 258.69 Lakhs (March 31,
253
2023 : H 248.06 Lakhs) and H 12.57 lakhs (March 31, 2023 : H 12.57 Lakhs) respectively. (Refer Note 16).
254

Note 3 (A) (II) : Property, Plant and Equipment

(H in lakhs)
Net Carrying
Gross Carrying Amount Accumulated Depreciation/Amortisation
Amount
Cost / Gross
Particulars Disposals/ As at As at Depreciation/ Disposals/ As at As at
carrying Additions/
Transfers/ March 31, April 1, Amortisation Transfers/ March 31, March 31,
value as at Adjustments
Adjustments 2023 2022 for the year Adjustments 2023 2023
April 1, 2022
Right-of-use assets [Refer 3 (D) (I)] 23,268.06 31.10 - 23,299.16 7,149.48 2,023.69 - 9,173.17 14,125.99
Buildings [Refer Note (ii) and (iv) 43,952.01 6.70 13.84 43,944.87 14,725.70 2,354.67 - 17,080.37 26,864.50
below]
Plant and Equipment (Owned) 1,27,847.49 6,229.75 71.93 1,34,005.31 79,433.31 12,173.81 57.21 91,549.91 42,455.40
Furniture and Fixtures 2,092.52 39.47 3.38 2,128.61 2,040.96 51.03 3.38 2,088.60 40.01
Office Equipment 7,875.23 1,084.56 193.31 8,766.48 5,388.72 877.17 193.43 6,072.46 2,694.02
Total Assets 2,05,035.31 7,391.58 282.46 2,12,144.43 1,08,738.17 17,480.37 254.02 1,25,964.51 86,179.92
Capital Work-in-Progress 11,407.68
[Refer Note 3 B below]
Note 3 (B) : Capital Work-in-Progress (CWIP)
Capital Work-in-Progress movement during the year

(H in lakhs)
As at As at
Particulars
March 31, 2024 March 31, 2023
Opening 11,407.68 12,184.42
Add - Addition during the year 8,093.08 6,529.19
Less - Capitalised during the year 8,472.36 7,305.93

Closing 11,028.40 11,407.68
Capital Work-in-Progress includes H 34.85 Lakhs (March 31, 2023 - H 74.08 Lakhs) being salary of H 22.46 Lakhs (March 31,2023 - H 70.62 Lakhs) and other
expenses of H 12.39 Lakhs (March 31, 2023 - H 3.46 Lakhs) incurred towards capital projects. Salary and other expenses disclosed in Note 28 and Note 30
respectively are net of amounts included in CWIP.

Capital work in progress ageing schedule

(H in lakhs)
Amount in CWIP for a period of
As at 31 March, 2024 Less than More than
1-2 years 2-3 years Total
1 year 3 years
Projects in progress 2,887.83 56.71 - 8,083.86 11,028.40
Total 2,887.83 56.71 - 8,083.86 11,028.40
(H in lakhs)
Amount in CWIP for a period of
As at 31 March, 2023 Less than More than
1-2 years 2-3 years Total
1 year 3 years
Projects in progress 2,740.85 260.38 266.47 43.13 3,310.83
Projects temporarily suspended - - 3.20 8,093.65 8,096.85
Total 2,740.85 260.38 269.67 8,136.78 11,407.68
For capital-work-in progress, whose completion is overdue, the project wise details of when the project is expected to
be completed is given below as of March 31, 2024
(H in lakhs)
As at 31 March 2024 To be completed in
Less than More than
CWIP 1-2 years 2-3 years Total
1 year 3 years
Projects in progress
Toothpaste Plant Building* 8,083.86 - 8,083.86
Total 8,083.86 - - - 8,083.86
*During the previous year, project was suspended however in current year the same is covered under projects in progress. Subsequent to year end, the
Company has capitalised this project in April 2024.
For capital-work-in progress, whose completion is overdue, the project wise details of when the project is expected to
be completed is given below as of March 31, 2023
(H in lakhs)
As at 31 March 2023 To be completed in
Less than More than
CWIP 1-2 years 2-3 years Total
1 year 3 years
Projects temporarily suspended
Toothpaste Plant Building - 8,083.86 - - 8,083.86
Total - 8,083.86 - - 8,083.86
Note 3 (C): Other Intangible Assets

The Gross carrying value of intangible assets of H Nil have been fully depreciated and the carrying value as at March 31,
2024 is Nil. (March 31, 2023 - Nil). Intangible assets comprise Goodwill, Trademarks, Copyright and Technical Know-how.
255

Note 3 (D) (I): Right-of-use assets recognized and the movements during the year
(H in lakhs)
Right-of-
Plant and IT use assets Leasehold
Vehicles Buildings Others Total (A+B)
Equipment Equipment (excluding Land (B)
land) (A)
As at April 01, 2023 6,211.10 - 9.14 706.10 56.19 6,982.54 7,143.45 14,125.99
Addition/Modification 12.48 - 259.17 1,543.57 - 1,815.22 - 1,815.22
Amortisation 1,091.00 - 86.58 618.65 49.16 1,845.39 83.96 1,929.35
Deletion - - - - - - -
As at March 31, 2024 5,132.58 - 181.73 1,631.02 7.03 6,952.37 7,059.49 14,011.86
Note 3 (D) (II): Right-of-use assets recognized and the movements for the previous year
(H in lakhs)
Right-of-
Plant and IT use assets Leasehold
Vehicles Buildings Others Total (A+B)
Equipment Equipment (excluding Land (B)
land) (A)
As at April 01, 2022 7,304.29 7.88 9.81 1,197.27 372.76 8,892.01 7,226.57 16,118.58
Addition/Modification - - 6.08 25.02 - 31.10 - 31.10
Amortisation 1,093.19 7.88 6.75 516.19 316.57 1,940.57 83.12 2,023.69
Deletion - - - - - - - -
As at March 31, 2023 6,211.10 - 9.14 706.10 56.19 6,982.54 7,143.45 14,125.99
Financial Assets
Note 4: Non-Current Loans
As at As at
March 31, 2024 March 31, 2023
Secured and Considered Good
Loans to Employees 96.91 92.02
96.91 92.02
Note 5: Other Non-Current Financial Assets
As at As at
March 31, 2024 March 31, 2023
Security Deposits (Amortised Cost) 1,429.87 1,604.35
Deposits with banks (with maturity period of more than 12 months) * 251.96 249.62
1,681.83 1,853.97
* Held as lien by Banks against Bank Guarantees issued to Regulatory authorities in the normal course of business.
256

Note 6: Other Non-current Assets
As at As at
March 31, 2024 March 31, 2023
Capital Advances (Refer Note 34) 61.63 594.44
Deposits with Government and other authorities 692.66 637.28
Prepaid Expenses 38.78 72.02
793.07 1,303.74
Note 7: Inventories
(Lower of cost or net realisable value)
As at As at
March 31, 2024 March 31, 2023
Raw and Packing Materials 7,333.53 9,214.90
Work-in-Progress 2,770.68 2,009.57
Finished Goods 15,069.96 16,880.22
Stock-in-Trade 1,666.70 2,665.81
[includes goods in transit H 317.18 Lakhs (March 31, 2023: H 91.32 Lakhs)]
Stores and Spares 2,800.50 2,774.46
29,641.37 33,544.96
Note 8: Trade Receivables
As at As at
March 31, 2024 March 31, 2023
Trade Receivables 14,189.80 12,968.94
Receivables from related parties (Refer Note 37) 3,145.40 3,359.69
Less : Allowance for doubtful debts (596.27) (592.02)
16,738.93 15,736.61
Unsecured and Considered Good 16,738.93 15,736.61
Trade Receivables which have significant increase in credit Risk 596.27 592.02
Allowance for doubtful debts (596.27) (592.02)
16,738.93 15,736.61
Trade receivables ageing schedule*
As at As at
March 31, 2024 March 31, 2023
Undisputed Trade receivables - Considered good
Current but not due 8,969.29 9,468.48
less than 6 months 7,337.51 5,952.15
6 months - 1 year 256.12 247.04
257

Note 8: Trade Receivables (Contd..)
As at As at
March 31, 2024 March 31, 2023
1-2 years 137.29 42.99
2-3 years 10.28 3.28
More than 3 years 28.44 22.67
16,738.93 15,736.61
Undisputed Trade receivables - which have significant increase in credit risk
6 months - 1 year 174.10 149.46
1-2 years 120.00 82.21
2-3 years 48.67 86.17
596.27 592.02
Total Trade receivables
less than 6 months 7,337.51 5,952.15
6 months - 1 year 430.22 396.50
1-2 years 257.30 125.20
2-3 years 58.95 89.45
Total 17,335.20 16,328.63
There are no disputed trade receivables.

* Outstanding for the above periods are based on due date of payment.
Note 9: Cash and Cash Equivalents
As at As at
March 31, 2024 March 31, 2023
Bank Balances in:
- Current Accounts 4,792.01 969.36
- Deposit Accounts (with less than 3 months original maturity) 84,107.33 79,636.32
88,899.34 80,605.68
Note 10: Other Bank Balances
As at As at
March 31, 2024 March 31, 2023
Earmarked balances with Banks in:
- Unpaid Dividend Account 3,558.10 3,308.19
- Unpaid Share Capital Reduction Account 87.49 85.65
- Deposits with maturity more than 3 month but less than 12 months 44,833.33 8,300.00
48,478.92 11,693.84
258

Note 11: Current Loans
As at As at
March 31, 2024 March 31, 2023
Secured and Considered Good
Loans to Employees 36.88 39.98
Unsecured and Considered Good
Inter-Corporate Deposits* 629.62 8,719.93
666.50 8,759.91
* (Inter-Corporate Deposits includes amounts with maturity period of 91 days, Rate of interest at 10% (March 31, 2023 - 91-125 days,
Rate of interest ranging 6%-10%)
Note 12: Other Current Financial Assets

As at As at
March 31, 2024 March 31, 2023
Receivables from Related Parties (Refer Note 37) 268.76 410.98
Security Deposits 333.13 190.00
Insurance Claims Receivable - 35.11
601.89 636.09
Note 13: Other Current Assets
As at As at
March 31, 2024 March 31, 2023
Balances with Government Authorities 213.37 213.37
Prepaid Expenses 809.32 673.24
Advances to Suppliers 4,022.21 2,742.09
Employee Advances 239.48 112.79
Fringe Benefit Advance Tax 69.78 69.78
5,354.16 3,811.27
Note 14: Equity Share Capital

Authorised Equity Share Capital:
Number of Amount
shares (J Lakhs)
As at April 1, 2022 1,37,00,00,000 13,700.00
Increase during the year - -
As at March 31, 2023 1,37,00,00,000 13,700.00
Increase during the year - -
As at March 31, 2024 1,37,00,00,000 13,700.00
259

Note 14: Equity Share Capital (Contd..)

Issued, Subscribed and Paid-up:
(A)Movement in Equity Share Capital
Number of Equity Share Capital

shares (par value in Lakhs)
As at April 1, 2022 27,19,85,634 2,719.86
As at March 31, 2023 27,19,85,634 2,719.86
As at March 31, 2024 27,19,85,634 2,719.86
(B)Rights, Preferences and Restrictions attached to Equity Shares:

The Company has one class of Equity Shares having par value of H 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.
(C)Shares held by Ultimate Holding Company and its Subsidiaries:

(H in lakhs)
As at As at
March 31, 2024 March 31, 2023
Colgate-Palmolive Company, U.S.A., the Ultimate Holding Company 1,089.53 1,089.53
10,89,52,694 (March 31, 2023 - 10,89,52,694) equity shares.
Colgate-Palmolive (Asia) Pte Ltd., Singapore, Subsidiary of the Ultimate 297.59 297.59
Holding Company 2,97,58,852 (March 31, 2023 - 2,97,58,852) equity
shares.
Norwood International Incorporated, U.S.A., Subsidiary of the Ultimate 0.01 0.01
Holding Company 1,126 (March 31, 2023 - 1,126) equity shares.
(D)Details of Shareholders holding more than 5% of the aggregate Shares in the Company:
As at As at
Particulars
March 31, 2024 March 31, 2023
Colgate-Palmolive Company, U.S.A.
Number of Shares 10,89,52,694 10,89,52,694
% of Holding 40.06 40.06
Colgate-Palmolive (Asia) Pte Ltd., Singapore
Number of Shares 2,97,58,852 2,97,58,852
% of Holding 10.94 10.94
(E)Details of shares held by promoters
As at As at
Particulars
March 31, 2024 March 31, 2023
Colgate-Palmolive Company, U.S.A.
Number of Shares at the beginning of the year 10,89,52,694 10,89,52,694
Change during the year - -
260

Note 14: Equity Share Capital (Contd..)
As at As at
Particulars
March 31, 2024 March 31, 2023
Number of Shares at the end of the year 10,89,52,694 10,89,52,694
% of Total shares 40.06 40.06
% of change during the year - -
Colgate-Palmolive (Asia) Pte Ltd., Singapore
% of change during the year - -
Norwood International Incorporated, U.S.A
Number of Shares at the beginning of the year 1,126 1,126
Number of Shares at the end of the year 1,126 1,126
% change during the year - -
Total Promoters Shareholding
% change during the year - -
Note 15: Other Equity
As at As at
March 31, 2024 March 31, 2023
(J Lakhs) (J Lakhs)
Securities Premium Account [Refer (i) below] 1,279.93 1,279.93
General Reserve [Refer (ii) below] 38,437.13 38,437.13
Share Options Outstanding Account [Refer (iii) below] (194.38) (451.13)
Retained Earnings [Refer (iv) below] 1,45,193.62 1,29,652.64
1,84,716.30 1,68,918.57
(i) Securities Premium
As at As at
March 31, 2024 March 31, 2023
(J Lakhs) (J Lakhs)
Balance at the beginning of the year 1,279.93 1,279.93
Balance at the end of the year 1,279.93 1,279.93
(Securities Premium reserve is used to record the premium on issue of shares. The reserve can be utilised in accordance
with the provisions of the Companies Act, 2013)
261

Note 15: Other Equity (Contd..)

(ii) General Reserve
As at As at
March 31, 2024 March 31, 2023
(J Lakhs) (J Lakhs)
Balance at the end of the year 38,437.13 38,437.13
(Under the erstwhile Companies Act 1956, general reserve was created through an annual transfer of net income at a
specified percentage in accordance with applicable regulations. Consequent to introduction of Companies Act 2013,
the requirement to mandatorily transfer a specified percentage of the net profit to general reserve has been
withdrawn. However, the amount previously transferred to the general reserve can be utilised only in accordance with
the specific requirements of Companies Act, 2013)
(iii) Share Options Outstanding account (Refer Note 38)
As at As at
March 31, 2024 March 31, 2023
Balance at the beginning of the year (451.13) 222.30
Add: Employee stock option expense 1,204.21 971.91
Less: Transferred to Retained Earnings for employees transferred during (105.84) (692.86)
the year/relocated to another group companies
Less: Payments made against liability created (594.86) (750.24)
Less: Amount credited by Group Company (329.75) (270.26)
Add: Tax Adjustment on above 82.99 68.02
Balance at the end of the year (194.38) (451.13)
(Reserve created for all outstanding employee stock options and RSUs. The share-based payment reserve is used to
recognise the value of equity-settled share-based payments provided to employees)
(iv) Retained Earnings
As at As at
March 31, 2024 March 31, 2023
Balance at the beginning of the year 1,29,652.64 1,30,808.54
Add: Profit for the year 1,32,365.96 1,04,714.65
Add: Other Comprehensive (Loss)/ Income 23.00 (489.02)
Add: Transferred from Share Options Outstanding account for employees 105.84 692.86
transferred during the year
Less: Appropriations
- Second Interim Dividend FY 22-23 - H 21/- per share (57,116.98) (57,116.98)
(FY 21-22 - H 21/- per share)
- First Interim Dividend H 22/- per share (FY 2022-23 - H 18/- per share) (59,836.84) (48,957.41)
Total Appropriations (1,16,953.82) (1,06,074.39)
Balance at the end of the year 1,45,193.62 1,29,652.64
1,84,716.30 1,68,918.57
(Retained earnings are the profits that a company has earned to date, after appropriation for dividends payouts)
262

Note 16: Lease liabilities

As a Lessee
The Company has lease contracts for various items of plant and equipments, vehicles, offices and residential buildings.
Leases of plant and equipments has lease term of 10 years, while other leases have lease terms ranging from 2 years to 9
years. The Company's obligations under its leases are secured by the lessor's title to the leased assets. The Company has
lease contracts that includes extension option, however the lease term in respect of such extension option is not defined
in the contract.
The Company also has certain leases with lease terms of 12 months or less and leases of low value. The Company applies
the 'short-term lease' and 'lease of low-value assets' recognition exemptions for these leases.
The carrying amounts of right-of-use assets recognised and the movements during the year are given in Note 3(D)(I).
Carrying amounts of lease liabilities and the movements during the year
As at As at
March 31, 2024 March 31, 2023
As at April 01 6,896.15 8,305.36
Addition 1,678.64 6.24
Interest 499.63 491.38
Payment (1,899.49) (1,906.83)
As at March 31 7,174.93 6,896.15
Non current 5,954.70 5,674.06
Current 1,220.23 1,222.09
Depreciation expense of right-of-use assets (Note 3D) 1,929.35 2,023.69
Interest expense on lease liabilities (Note 29) 499.63 491.38
Expense relating to leases of low-value assets (included in Note 30 under 471.99 491.56
lease rentals)
471.99 491.56
The effective interest rate for lease liabilities is 7.33% p.a. to 7.64% p.a., with maturity between 2024-2030.
The Company had total cash outflows for leases of H 1,899.49 lakhs for the year ended March 31, 2024 and H 1,906.83
lakhs for the year ended March 2023.
The maturity analysis of lease liabilities are disclosed in Note 40.
As a Lessor
The Company has given office premise space under non-cancellable operating lease for a period of 1 year ended 31st May,
2024. The rental income from the asset given on lease of H 258.69 Lakhs (March 31, 2023 : H 248.06 Lakhs) has been
disclosed as "Lease Rentals" under Other Income in Note 26 to the Statement of Profit and Loss.
Description of significant operating lease arrangements in respect of premises:
- The Company has taken refundable interest free security deposit under the lease agreements.
- Agreement contain provision for renewal at the option of either party.
- Agreement provide for restriction on sub lease.
263

Note 16: Lease liabilities (Contd..)

Future minimum lease payments that the Company is expected to receive under the non-cancellable lease are as under:
As at As at
March 31, 2024 March 31, 2023
Within one year 43.47 -
Beyond one year future minimum lease payments that the Company is expected to receive under the non-cancellable lease
is H Nil. (Previous Year: H Nil)
Note 17: Other Non-Current Financial Liabilities

As at As at
March 31, 2024 March 31, 2023
Security Deposits 130.08 123.70
130.08 123.70
Note 18: Non-Current Provisions
As at As at
March 31, 2024 March 31, 2023
Provision for Employee Benefits:
- Gratuity [Refer Note 28 II (B) (iii)(a)] 974.42 1,112.17
- Compensated Absences [Refer Note 28 III] 714.42 964.65
- Provident Fund [Refer Note 28 II (B) (iii)(b)] 472.37 282.23
2,161.21 2,359.05
Note 19: Deferred Tax Assets / (Liabilities) [Net]

The balance comprises temporary differences attributable to:
As at As at
March 31, 2024 March 31, 2023
Deferred Tax Liabilities: (A)
Difference between carrying value of property, plant and equipment and (346.37) (1,432.07)
written down value as per tax
Deferred Tax Assets: (B)
Impact of indexation on leasehold land 1,311.06 1,170.59
Voluntary retirement obligation 392.66 -
Expenses allowable on payment basis for tax purposes 3,675.55 1,659.88
Employee benefits 1,292.56 1,336.86
Impairment of trade receivables 150.07 149.00
Net Deferred Tax Assets (A+B) 6,475.53 2,884.26
264

Note 19: Deferred Tax Assets / (Liabilities) [Net]
As at As at
March 31, 2024 March 31, 2023
Movement in Deferred Tax Assets / (Liabilities)
Opening balance as at beginning of the year 2,884.26 1,729.72
Tax income during the year recognised in profit or loss [Refer Note 31 (a)] 3,599.00 990.07
Tax income during the year recognised in OCI (7.74) 164.47
Closing balance as at year end 6,475.53 2,884.26
Note 20: Other Non-Current Liabilities
As at As at
March 31, 2024 March 31, 2023
Payable under Voluntary Retirement Scheme 36.10 40.15
36.10 40.15
Note 21: Trade Payables
As at As at
March 31, 2024 March 31, 2023
- Total outstanding dues of micro enterprises and small enterprises 703.69 1,269.34
(Refer Note 42)
- Total outstanding dues of creditors other than micro enterprises and 87,486.70 74,843.06
small enterprises
88,190.39 76,112.40
Trade Payables 77,178.08 65,683.91
Trade Payable to related parties (Refer Note 37) 11,012.31 10,428.49
88,190.39 76,112.40
Trade payables ageing schedules*
As at As at
March 31, 2024 March 31, 2023
Total outstanding dues of micro enterprises and small enterprises
Current but not due 653.47 892.66
Less than 1 year 50.22 341.18
1-2 years - 35.50
Total 703.69 1,269.34
265

Note 21: Trade Payables (Contd..)
As at As at
March 31, 2024 March 31, 2023
Total outstanding dues of creditors other than micro enterprises and
small enterprises
Unbilled 58,518.74 50,323.97
Less than 1 year 27,599.64 17,976.48
1-2 years 0.89 20.09
2-3 years 7.17 16.39
Total 87,486.70 74,843.06
Total Undisputed Trade payables
Unbilled 58,518.74 50,323.97
Less than 1 year 27,649.86 18,317.66
1-2 years 0.89 55.59
2-3 years 7.17 16.39
Total 88,190.39 76,112.40
There are no disputed trade payables.

* Outstanding for the above periods are based on due date of payment
Note 22: Other Current Financial Liabilities
As at As at
March 31, 2024 March 31, 2023
Dividends* :
- Other Unpaid Dividends** 3,558.10 3,308.19
Unpaid Balance for Share Capital Reduction** 87.49 85.65
Capital Creditors 496.74 379.58
4,142.33 3,773.42
*There are no amounts due for payment to the Investor Education and Protection Fund (IEPF) under Section 125 of the Companies Act, 2013 as at the year
end as per the Company records.
** Considered for movement in liabilities arising from financing activities in cash flow.
Note 23: Other Current Liabilities

As at As at
March 31, 2024 March 31, 2023
Payable towards Statutory Liabilities 3,956.10 5,463.49
Employee Benefits Payable 7,430.11 6,486.95
Payable under Voluntary Retirement Scheme - 3.16
Advances from Customers 1,196.49 835.21
12,582.70 12,788.81
266

Note 24: Current Provisions

As at As at
March 31, 2024 March 31, 2023
Provision for Employee Benefits :
- Provident Fund [Refer Note 28 II (B) (iii) (b)] 402.05 649.65
- Compensated Absences [Refer Note 28 III] 84.42 318.47
Others :
- Provision for Statutory Liabilities [Refer Note (A)] 4,349.76 3,545.72
- Other Matter [Refer Note (B)] 5,026.99 4,537.27
9,863.22 9,051.11
(A) Provision for statutory liabilities
As at As at
March 31, 2024 March 31, 2023
Opening Balance 3,545.72 3,292.25
Add: Provision made 961.52 976.76
Less: Provision Utilised/Reversed (157.48) (723.29)
Closing Balance 4,349.76 3,545.72
Future cash flow in respect of the above, if any, is determinable only on receipt of judgements/decisions pending with
relevant authorities.
(B) Other Matter
As at As at
March 31, 2024 March 31, 2023
Opening Balance 4,537.27 4,099.61
Add: Provision made 489.72 437.66
Closing Balance 5,026.99 4,537.27
Provision for other matter represents claim against the Company not acknowledged as debt that may materialise in
respect of matter of a Leased Property in dispute (Refer note 33).
Note 25: Revenue from Operations

March 31, 2024 March 31, 2023
Revenue from Contract with Customers :
- Sale of Products (net of GST) 5,64,418.01 5,18,786.36
Other Operating Revenue
- Service Income 3,177.93 3,202.55
- Scrap Sales 446.90 630.80
5,68,042.84 5,22,619.71
267

Note 25: Revenue from Operations (Contd..)

Disaggregated revenue information

March 31, 2024 March 31, 2023
1) Type of goods or service
Personal Care (Including Oral Care) 5,64,418.01 5,18,786.36
Research and Development Service Income 3,177.93 3,202.55
Scrap Sales 446.90 630.80
5,68,042.84 5,22,619.71
2) Geographical
India 5,47,011.25 4,99,789.24
Outside India 21,031.59 22,830.47
5,68,042.84 5,22,619.71
3) Timing of revenue recognition
Sale on transfer of goods to customer at a point in time 5,64,864.91 5,19,417.16
Service Income as and when services rendered 3,177.93 3,202.55
5,68,042.84 5,22,619.71
4) Revenue
External customer 5,54,043.67 5,05,918.80
Related Party 13,999.17 16,700.91
5,68,042.84 5,22,619.71
Contract balances
Trade receivables* 16,738.93 15,736.61
Contract Liability - Advances from Customers** 1,196.49 835.21
*Trade receivables are non-interest bearing and on credit allowed to certain customers. As on March 31, 2024, H 596.27 lakhs (March 31, 2023 - H 592.02 lakhs)
is recognised as allowance for doubtful debts.
**Contract Liability represents short term advances received from customer to deliver the goods. The company has recognised revenue of H 835.21 lakhs
(March 31, 2023 - H 873.50 lakhs) that was included in contract liability balance at the beginning of the year.

March 31, 2024 March 31, 2023
Reconciling the amount of revenue recognised in the statement of profit
and loss with the contracted price at net of discount and rebates
Revenue (Refer Note below) net of on invoice discount 6,22,762.55 5,74,643.51
Sales return (2,956.35) (2,905.69)
Variable Consideration - off invoice (51,763.36) (49,118.11)
Revenue from contract with customers 5,68,042.84 5,22,619.71
Note - Sales as per contracted price before discounts H 649,375.99 Lakhs for the year ended March 31, 2024 (March 31, 2023
H 597,959.77 Lakhs)
Performance obligation
The Company’s revenue contracts represent a single performance obligation to sell its products to trade customers. Sales are
recorded at contracted price at the time control of the products is transferred to trade customers, in an amount that reflects
268

Note 25: Revenue from Operations (Contd..)

the consideration the Company expects to be entitled to in exchange for the products. Control is the ability of trade
customers to direct the use of and obtain the benefit from our products. In evaluating the timing of the transfer of control
of products to trade customers, the Company considers transfer of significant risks and rewards of products and the
probability of flowing of future economic benefit to the entity as per the terms of the Contract which usually co-incide with
the delivery of the goods. The performance obligation for service Income is satisfied as and when the service is performed.
The payment terms include advance payment and credit given to certain customers.
The nature of goods includes personal care (including oral care) and Research and Development service income.
Variable consideration
Variable consideration includes sales returns, trade discounts, volume based incentives, and cost of promotional programs,
indirect taxes as may be applicable.
Note 26: Other Income

March 31, 2024 March 31, 2023
Interest income on Financial Assets at Amortised cost 7,129.68 3,990.35
Interest income from Unwinding of discount on security deposits 158.59 109.91
Lease Rentals (Refer Note 16) 258.69 248.06
Foreign Exchange Gain (Net) 37.34 264.37
Net gain on disposal of property, plant and equipment - 31.28
Provisions no Longer Required Written Back - 90.65
Miscellaneous Income 67.90 622.97
7,652.20 5,357.59
Note 27: Changes in inventories of Finished Goods, Stock-in-Trade and Work-in-Progress:

March 31, 2024 March 31, 2023
Opening Stock
Finished Goods 16,880.22 15,024.03
Stock-in-Trade 2,665.81 4,698.07
21,555.60 21,947.54
Less: Closing Stock
Finished Goods 15,069.96 16,880.22
Stock-in-Trade 1,666.70 2,665.81
19,507.34 21,555.60
2,048.26 391.94
269

Note 28: Employee Benefits Expense

March 31, 2024 March 31, 2023
Salaries, Wages and Bonus 36,331.39 33,258.61
Contribution to Provident Fund, Gratuity and Other Funds 3,019.27 2,756.32
Share Based Payments to Employees [Refer Note 38 (c)] 1,204.21 971.91
Compensated Absences [Refer III below] 19.84 210.08
Staff Welfare Expenses 598.13 500.07
41,172.84 37,696.99
I Defined Contribution Plans

March 31, 2024 March 31, 2023
Charge to Statement of Profit and Loss for Defined Contribution Plans:
- Employers' Contribution to Provident Fund 197.36 202.00
- Employers' Contribution to Superannuation Fund 121.12 113.74
- Employers' Contribution to Employee's State Insurance 27.45 39.41
- Employers' Contribution to Employee's Pension Scheme 1995 305.23 314.98
- Employers' Contribution to National Pension Scheme 136.73 115.67
Total (Included in Employee Benefits Expense - Contribution to Provident 787.89 785.80
Fund, Gratuity and Other Funds)
II Defined Benefit Plans

Contribution to Gratuity Fund (Funded Scheme), Provident Fund (Funded Scheme) and accrued liability towards
Pension Scheme (Non-Funded Scheme). In accordance with Ind AS 19, Actuarial valuation was performed in respect of
the aforesaid defined benefit plans.
A) Significant actuarial assumptions were as follows:

March 31, 2024 March 31, 2023
Discount Rate (per annum) 7.25% 7.50%
Rate of increase in Compensation levels 7.00% 7.00%
B) Balance Sheet Amounts
i) Balance sheet amounts- Gratuity

The Company provides for gratuity for employees as per the Company policy. Employees who are in continuous
service for a period of 5 years are eligible for gratuity. The amount of Gratuity is payable on retirement/
termination of the employee's based on last drawn basic salary per month multiplied for the number of years
GRI 2-21
270

Note 28: Employee Benefits Expense (Contd..)

of service. The Company has established ‘Colgate-Palmolive India Gratuity Fund for Workmen’ and ‘Colgate-
Palmolive India Gratuity Fund for Non-Workmen’ to which the Company makes contribution.
(H in lakhs)
Present value Fair value of
Net Amount
Particulars of obligation plan assets
(A)-(B)
(A) (B)
Opening Balance as at April 1, 2022 9,564.38 9,246.88 317.50
Current service cost (i) 774.48 - 774.48
Interest expense/(income) (ii) 669.51 661.05 8.46
Total amount recognised in the 1,443.99 661.05 782.94
Statement of Profit and Loss (i+ii)
Remeasurements
Return on plan assets, excluding amounts - (303.70) 303.70
included in interest expense/(income)
(Gain)/loss from change in demographic (9.60) - (9.60)
assumptions
Gains from change in financial assumptions (324.70) - (324.70)
Experience Gains 359.83 - 359.83
Total amount recognised in other 25.53 (303.70) 329.23
comprehensive loss
Employers contributions - 317.50 (317.50)
Benefit payments (1,073.88) (1,073.88) -
Closing Balance as at March 31, 2023 9,960.02 8,847.85 1,112.17
(H in lakhs)
Net Amount
(A)-(B)
(A) (B)
Opening Balance as at April 1, 2023 9,960.02 8,847.85 1,112.17
Current service cost (i) 809.36 - 809.36
Interest expense/(income) (ii) 725.10 656.68 68.42
Total amount recognised in the 1,534.46 656.68 877.78
Statement of Profit and Loss (i+ii)
Remeasurements
Return on plan assets, excluding amounts - 399.52 (399.52)
included in interest (income)
(Gain)/loss from change in demographic - - -
assumptions
Gains from change in financial 290.85 - 290.85
assumptions
Experience Gains 205.30 - 205.30
Total amount recognised in other 496.15 399.52 96.63
comprehensive loss
Employers contributions - 1,112.16 (1,112.16)
Benefit payments (1,084.56) (1,084.56) -
Closing Balance as at March 31, 2024 10,906.07 9,931.65 974.42
271


ii) Balance sheet amounts- Provident Fund
The Company has established ‘Colgate-Palmolive (India) Limited Provident Fund’ in respect of certain
employees to which both the employee and the employer make contribution. Such contribution to the
provident fund for all employees, are charged to the Statement of Profit and Loss. In case of any liability
arising due to shortfall between the return from its investments and the guaranteed specified interest rate,
the same is provided for by the Company. The actuary has provided an actuarial valuation and the interest
shortfall liability if any has been provided in the books of accounts after considering the assets available with
the Company's Provident Fund Trust. The guaranteed rate of return (p.a) is 8.25% ( March 31,2023 - 8.15%).
(H in lakhs)
Net Amount
(A)-(B)
(A) (B)
Current service cost 1,078.87 - 1,078.87
Interest expense 2,232.63 2,248.00 (15.37)
Total amount recognised in the 3,311.50 2,248.00 1,063.50
Remeasurements
(Gain)/loss due to Mark to market - 607.61 (607.61)
Gain from change in financial assumptions (157.72) - (157.72)
Experience losses (121.66) (1,377.33) 1,255.67
Shortfall arising on account of asset - - -
diminution.
Total amount recognised in other (279.38) (769.72) 490.34
comprehensive loss
Contributions:
Employers - 1,204.31 (1,204.31)
Employees 1,910.54 1,910.54 -
Payment for plan:
Benefit payments (1,246.97) (1,246.97) -
Settlements 249.85 249.85 -
Actual Employer contribution towards - (125.44) 125.44
interest rate guarantee
Adjustment to recognize the effects of - 150.71 (150.71)
plan assets at book value
(H in lakhs)
Net Amount
(A)-(B)
(A) (B)
Current service cost 1,300.74 - 1,300.74
Interest expense 2,571.17 2,501.27 69.90
Total amount recognised in the 3,871.91 2,501.27 1,370.64
272


(H in lakhs)
Net Amount
(A)-(B)
(A) (B)
Remeasurements
Gain from change in financial 216.47 - 216.47
assumptions
Experience losses 977.78 1,321.61 (343.83)
Total amount recognised in other 1,194.25 1,321.61 (127.36)
comprehensive loss
Contributions:
Employers - 1,300.74 (1,300.74)
Employees 1,924.33 1,924.33 -
Payment for plan:
Benefit payments (1,901.16) (1,901.16) -
Settlements (675.76) (675.76) -
Actual Employer contribution towards - - -
interest rate guarantee
Adjustment to recognize the effects of - - -
plan assets at book value
(iii) Amount recognised in the Balance Sheet (Funded Scheme)

a) Gratuity
Year Ended
March 31, 2024 March 31, 2023
Present Value of Obligation as at the end of the year 10,906.07 9,960.02
Fair Value of Funded Plan Assets as at the end of the year (9,931.65) (8,847.85)
Liability recognised in the Balance Sheet 974.42 1,112.17
[Included in Non Current Provisions H 974.42 Lakhs (March 31, 2023 - H 1,112.17 Lakhs) (Refer Note 18)]
b) Provident Fund (Funded Scheme)
Year Ended
March 31, 2024 March 31, 2023
Present Value of Obligation of Funded Plan as at the end of 38,371.70 33,958.13
the year
Fair Value of Funded Plan Assets as at the end of the year (37,497.28) (33,026.25)
Liability recognised in the Balance Sheet 874.42 931.88
Note - Plan assets for Provident fund trust have been valued at cost or fair market value whichever is lower.
[Included in Non Current Provisions H 472.37 lakhs (March 31, 2023 - H 282.23) (Refer Note 18) and in
Current Provisions H 402.05 lakhs (March 31, 2023 H 649.65 lakhs) (Refer Note 24)]
273

(iv) Percentage of each category of Plan Assets to Total Fair Value of Plan Assets
a) Gratuity
Year Ended
March 31, 2024 March 31, 2023
% %
Category of Assets (% Allocation)
Government of India Securities 0% 0%
Insurer Managed Funds 100% 99%
Others 0% 1%
b) Provident Fund
Year Ended
March 31, 2024 March 31, 2023
% %
Category of Assets (% Allocation)
Government of India Securities 47% 47%
Other Debt Instruments 35% 37%
Equity instruments 16% 13%
Others 2% 3%
c) Sensitivity Analysis
i) Gratuity
Year Ended
March 31, 2024 March 31, 2023
Discount Rate:
Impact of increase in 50 bps on DBO -5.23% -5.10%
Impact of decrease in 50 bps on DBO 5.67% 5.52%
Salary Escalation Rate:
Impact of increase in 50 bps on DBO 5.55% 5.49%
Impact of decrease in 50 bps on DBO -5.23% -5.14%
ii) Provident Fund
Year Ended
March 31, 2024 March 31, 2023
Guaranteed Rate of Return:

Impact of increase in 100 bps on DBO 4.04% 3.55%
Impact of decrease in 100 bps on DBO -1.41% -0.95%
274


D) Projected Plan Cash flow:
The expected contribution payable to the Gratuity plan for the next year is H 400 Lakhs. The expected contribution
payable to the Provident Fund plan for the next year is H 1,391.78 lakhs.
The weighted average duration to the payment of these cash flows for Gratuity is 10.88 years (March 31, 2023 :
10.61 years). The weighted average duration to the payment is for Provident Fund plan is 12.42 years (March 31,
2023 : 12.36 years)
Expected cash flow profile of the benefits to be paid to the Year Ended
current membership of the plan: Gratuity March 31, 2024 March 31, 2023
Less than a year 513.36 584.17
Between 1- 2 years 905.56 411.60
Between 2- 5 years 1,865.60 2,082.80
Between 5- 9 years 3,477.44 3,636.61
10 years and above 21,677.66 19,806.12
III Other Employee Benefit - Compensated Absences

The liability for Compensated Absences as at the year end is H 798.84 Lakhs (March 31, 2023 : H 1,283.12 Lakhs).
As at As at
March 31, 2024 March 31, 2023
Included in :
Non-Current Provisions (Refer Note 18) 714.42 964.65
Current Provisions (Refer Note 24) 84.42 318.47
798.84 1,283.12
Movement of Compensated Absences:
Add: Charge during the year 19.84 210.08
Less: Amount paid during the year* 504.12 410.06
Balance at the end of the year 798.84 1,283.12
*One time accumulated leave balances related to HO employees are paid in March 2024 and April 2024 and there is no further carry forward for
unused leaves.
Note 29 : Finance Costs
As at As at
March 31, 2024 March 31, 2023
Interest expense 499.63 491.38
499.63 491.38
275

Note 30: Other Expenses

March 31, 2024 March 31, 2023
Consumption of Stores and Spares 2,724.44 2,561.36
Processing Charges 574.53 976.12
Power and Fuel 4,850.75 4,744.34
Freight and Forwarding Charges 15,043.61 15,287.70
Lease Rentals (Refer Note 16) 471.99 491.56
Rates and Taxes 195.95 255.26
Insurance 681.71 748.71
Repairs and Maintenance
- Plant and Machinery 4,609.74 4,530.90
- Buildings 231.28 277.39
- Others 132.52 156.67
4,973.54 4,964.96
Advertising 76,041.84 63,407.44
Fees and Commission to Independent Directors 200.50 177.50
Auditors' Remuneration [Refer Note (A) below] 116.82 110.31
Royalty
- Royalty Expense 23,791.96 22,863.84
- Withholding tax on Royalty 4,198.07 2,802.80
27,990.03 25,666.64
Expenditure towards Corporate Social Responsibility 2,786.82 2,538.00
[Refer Note (B) below]
Bad Debts Written Off 10.95 3.29
Provision for Doubtful Debts 4.25 -
Net loss on disposal of property, plant and equipment 25.04 -
Travel and Conference Expenses 2,871.87 2,943.29
Outside Services 15,880.65 14,085.81
Miscellaneous 9,045.19 11,839.75
1,64,490.48 1,50,802.04
(A) Auditors' Remuneration (excluding Goods and
Services Tax) :
As Auditor :
- Statutory Audit 66.00 64.00
- Limited Review 31.00 31.00
- Tax Audit 12.00 12.00
Reimbursement of Expenses 7.81 3.31
116.81 110.31
276

Note 30 (B): Corporate Social Responsibility Expenditure

March 31, 2024 March 31, 2023
(I) Gross amount required to be spent by the Company during the year 2,786.82 2,535.12
(II) Amount approved by the Board to be spent during the year 2,786.82 2,538.00
(III) CSR expenditure during the year:
(A) Amount paid in cash -
(i) Construction/acquisition of any asset - -
(ii) On purposes other than (i) above:
- Administrative Overheads 92.31 -
- Social Impact Assessment of CSR Programs 36.22 40.10
- Promoting Preventive Health Care 1,528.12 634.06
- Water Access and Water Augmentation for livelihoods and 200.00 530.15
Women Empowerment
- Empowering Youth through Education/Career Building - 780.50
Opportunities /Sports program
- Smiles for Life - Program on Cleft Surgeries 300.00 -
- Waste Management 100.00 -
- Financial & Digital Literacy for Women & PwD & community 250.00 -
support
(B) Amount unspent -
- Promoting preventive health care 280.17 553.19
2,786.82 2,538.00
(IV) Details of unspent amount along with details of ongoing projects as per section 135(6)
i) Details of unspent amount for ongoing projects as per section 135(6)
Amount Amount spent

Opening Balance Closing Balance
required to during the year
be spent
In Separate From From Separate In Separate
With during the With
CSR Unspent Company’s CSR Unspent CSR Unspent
Company year Company*
A/c bank A/c A/c A/c
- 553.19 2,786.82 2,506.65 553.19 280.17 -

* Subsequent to year end, the amount is deposited in separate CSR unspent account in compliance with the provisions of section 135(6) of the
Companies Act, 2013
ii) Details of movement in provisions
Opening Provision Spent during the year Current Year Provision Closing Provision
553.19 553.19 280.17 280.17
V) There are no amounts contributed to any trust, society or Section 8 company which controlled by the Company in
relation to CSR expenditures as per Indian Accounting Standard 24 - Related Party Disclosures (Ind AS 24).
277

Note 31 : Income Tax expenses

March 31, 2024 March 31, 2023
(a) Income tax expense
Current tax
Current tax on profit for the year 49,365.56 37,242.69
Total current tax expenses 49,365.56 37,242.69
Deferred tax
Relating to origination and reversal of temporary differences (3,599.00) (990.07)
Income tax expenses 45,766.56 36,252.62
(b) Reconciliation of tax expense and the accounting profit multiplied by
India's tax rate:
Profit before income tax expense 1,78,132.52 1,40,967.27
Tax at the Indian tax rate of 25.168% (March 31,2023 - 25.168%) 44,832.39 35,478.64
Tax effect of amounts which are not deductible (allowable) in calculating
taxable income:
Expenses not deductible for tax purposes 954.96 794.77
Income considered under separate head of income (20.79) (20.79)
Income tax expense 45,766.56 36,252.62
(c) Amounts Recognised directly in Equity
Current Tax Impact arising in the reporting period in respect of 82.99 68.02
distribution of Employee Stock Option directly recognised in Equity
(d) Current Tax Assets (Net)
Current Tax Assets (Net) [Net of Provision of Tax H 204,240.90 lakhs, 29,789.33 29,788.98
March 31, 2023 : H 204,240.90 lakhs]
(e) Current Tax Liabilities (Net)
Current Tax Liabilities (Net) [Net of Advance Tax payments 7,935.65 5,515.71
H 198,387.73 lakhs, March 31, 2023 : H 151,524.25 lakhs]
Note 32: Contingent Liabilities

(To the extent not provided for)
As at As at
March 31, 2024 March 31, 2023
Claims against the Company not acknowledged as debts:
- Excise and Related Matters 2,372.33 5,358.74
- GST Matters 149.13 687.22
- Custom Matters 221.70 221.70
- Service Tax Matters 1,399.13 1,399.14
- Sales Tax Matters 830.82 1,217.20
- Income Tax Matters 1,26,435.00 92,207.57
- Commercial Matters 15.00 15.00
Future cash flow in respect of the above, if any, is determinable only on receipt of judgements/decisions pending with the
relevant authorities.
278

Note 32: Contingent Liabilities (Contd..)

For certain years for which the Company has received favourable orders from the Income Tax Appellate Tribunal (ITAT)
quashing outstanding demand of H 53,943.87 lakhs, the Income Tax Department has preferred further appeals with the
High Court which are yet to be admitted in the High Court.
Note 33: Demand notices in relation to leased property

During the year, the Company has further received demand notices of H 1,385.90 Lakhs (H 9,775.91 Lakhs for March 31,
2023) from lessor in respect of leased property at Sewri resulting into total outstanding demand of H 13,030.48 Lakhs as at
March 31, 2024 (H 11,644.58 Lakhs as at March 31, 2023), for increase in the rentals with retrospective effect from October
01, 2012. The Company is seeking explanation from authorities in relation to such demands and basis legal opinion
obtained by the Company, the Company believes that such demand is exorbitant and not tenable before the Court of Law.
Note 34: Capital Commitments

As at As at
March 31, 2024 March 31, 2023
Estimated amount of contracts remaining to be executed on capital account 1,722.52 1,190.53
and not provided for [net of capital advances of H 61.63 Lakhs (March 31,
2023 : H 594.44 Lakhs) (Refer Note 6)]
Note 35: Segment Information

Operating segments are reported in a manner consistent with the internal reporting provided to the Chief Operating
Decision Maker ("CODM") of the Company. The CODM, who is responsible for allocating resources and assessing
performance of the operating segments, has been identified as the Managing Director and Chief Financial Officer of the
Company. The Company operates only in one Business Segment i.e. ‘Personal Care (including Oral Care)' which primarily
includes products such as Soaps, Cosmetics and Toilet Preparations and the activities incidental thereto within India, hence
does not have any reportable Segments as per Ind AS 108 "Operating Segments". The performance of the Company is
mainly driven by sales made locally and hence, no separate geographical segment is identified.
Note 36: Earnings Per Share (EPS)

March 31, 2024 March 31, 2023
i) Basic and Diluted Earnings Per Share (H)
Profit for the year (H Lakhs) 1,32,365.96 1,04,714.65
Weighted average number of outstanding shares for Basic and Diluted EPS 27,19,85,634 27,19,85,634
(Nos.)
Nominal Value of shares outstanding (H) 1 1
Basic and Diluted Earnings Per Share (H) 48.67 38.50
ii) Weighted average number of shares used as the denominator
Opening Balance 27,19,85,634 27,19,85,634
Weighted average number of shares used as the denominator for 27,19,85,634 27,19,85,634
calculating basic and diluted earnings per share
279

Note 37: Disclosure of Related Parties

A) Ultimate Holding Company : Colgate-Palmolive Company, U.S.A.
B) Group Companies where common control exists : Colgate-Palmolive Mktg. SDN BHD, Malaysia
: Colgate-Palmolive East Africa Ltd., Kenya
: Colgate-Palmolive DEL Ecuador S.A
: Colgate-Palmolive Pty. Ltd., South Africa
: Colgate-Palmolive (Thailand) Ltd., Thailand
: Colgate-Palmolive Asia Pacific Ltd., Wan Chai, Hongkong (Formerly
known as Colgate-Palmolive Management Services HK Ltd)
: Colgate-Palmolive (China) Co. Ltd., China
: Colgate Palmolive (Vietnam) Ltd, Vietnam
: Colgate Sanxiao Company Limited, China*
: Colgate-Palmolive Peru SA
: Colgate-Palmolive Ukraine TOV
: Colgate-Palmolive (Burlington) Limited*
: Colgate Palmolive Temizlik Urunleri Sanayi ve Ticaret S.A., Turkey
: Colgate-Palmolive Cameroun S.A., Cameroun*
: Colgate-Palmolive (Eastern) Pte. Ltd., Singapore*
: Colgate-Palmolive Indústrial Ltda., Brazil
: Norwood International Incorporated, U.S.A.*
: Colgate-Palmolive Tanzania Limited, Tanzania
: Colgate-Palmolive Pty. Ltd., Boksburg, South Africa.
: Colgate Global Business Services Pvt Ltd, India
: Colgate-Palmolive Zambia Inc., Zambia*
: Colgate-Palmolive Services (Poland) Sp.z.o.o, Poland
: Colgate-Palmolive Europe SARL, Italy*
: Colgate Palmolive Bt. Ltd., (Blantyre), Malawi*
: Colgate-Palmolive CACE Region, Istanbul, Turkey*
: Colgate-Palmolive Senegal, Senegal*
: Colgate Philippines Inc., Philippines
: Colgate-Palmolive Mocambique Limitada*
: Colgate-Palmolive Ghana Ltd, Ghana*
: Colgate-Palmolive Europe Sarleu Div
: CP Middle East Exports Ltd
: Colgate-Palmolive (Myanmar) Limited, Myanmar
: Hill'S Pet Nutrition Asia Limited*
: Colgate-Palmolive Arabia Ltd.
: Colgate-Palmolive Pty. Ltd.,Australia
: Colgate-Palmolive (Russia) Ltd., Russia
: Hypo Homecare Products Limited, Nigeria
: Colgate Tolaram LFTZ Enterprise
: Colgate-Palmolive IHQ Services Thailand
: Colgate- Palmolive ACI Bangladesh Private Limited
: Hawley & Hazel (ZHONGSHAN) CO.,Ltd.
C) Key Managerial Personnel of the Company

(i) Executive Directors : Prabha Narasimhan
: M. S. Jacob
: M. Chandrashekhar (Up to June 30, 2022)
: R. Raghavan (Up to April 15, 2022)
: S. Sharma
280

Note 37: Disclosure of Related Parties (Contd..)

(ii) Non-Executive and Non Independent Directors : M. Deoras
(iii) Non-Executive and Independent Directors : V. S. Mehta
: I. Shahani
: S. Gopinath
: S. Kripalu
: G. Pant
: S. Natarajan
: I. Bhushan - Appointed w.e.f July 26, 2023
: S. Gupta - Appointed w.e.f Jan 22, 2024
(iv) Company Secretary : S. Sharma
D) Post Employment Benefit Funds : Colgate-Palmolive (India) Limited Provident Fund
: Colgate-Palmolive India Gratuity Fund for Workmen
: Colgate-Palmolive India Gratuity Fund for Non-Workmen
* There are no transactions with the Company during the current year
(I) Transactions entered into with Parties referred to in Category A and B H in lakhs
Parties referred to in Parties referred to in

Total
Category A Category B
Nature of Transaction Year Ended Year Ended Year Ended
March 31, March 31, March 31, March 31, March 31, March 31,
2024 2023 2024 2023 2024 2023
Purchase of Goods/Materials
Colgate-Palmolive Asia Pacific Limited - - 2,163.16 3,726.19 2,163.16 3,726.19
Colgate-Palmolive Company, U.S.A. 2,307.78 622.82 - - 2,307.78 622.82
Others - - 131.82 180.87 131.82 180.87
Sub-Total 2,307.78 622.82 2,294.98 3,907.06 4,602.76 4,529.88
Sale of Goods/Materials
Hypo Homecare Products Limited, - - - 768.48 - 768.48
Nigeria
Colgate-Palmolive Europe Sarleu Div - - 7,030.58 8,044.17 7,030.58 8,044.17
Colgate-Palmolive East Africa Ltd., Kenya - - 613.22 445.91 613.22 445.91
Colgate-Palmolive Pty. Ltd., South Africa - - 69.81 240.13 69.81 240.13
Colgate-Palmolive Pty. Ltd., Boksburg - - 1,612.21 1,584.87 1,612.21 1,584.87
Colgate-Palmolive Asia Pacific Limited - - - 375.97 - 375.97
Colgate Tolaram LFTZ Enterprises - - 97.57 - 97.57 -
Colgate- Palmolive ACI Bangladesh - - 538.63 - 538.63 -
Private Limited
Others - - 859.21 2,038.11 859.21 2,038.11
Sub-Total - - 10,821.23 13,497.64 10,821.23 13,497.64
Purchase of Fixed Assets/Spares
Colgate-Palmolive Company, U.S.A. 113.77 - - - 113.77 -
Hawley & Hazel (ZHONGSHAN) CO.,Ltd. - - 3.29 - 3.29
Sub-Total 113.77 - 3.29 - 117.06 -
Services Rendered (inclusive of Goods
and Service Tax)
Colgate-Palmolive Company, U.S.A. 3,553.81 3,618.41 - - 3,553.81 3,618.41
Others - - 305.26 292.71 305.26 292.71
Sub-Total 3,553.81 3,618.41 305.26 292.71 3,859.07 3,911.12
281


H in lakhs
Total
Nature of Transaction Year Ended Year Ended Year Ended
2024 2023 2024 2023 2024 2023
Services Received
Colgate Global Business Services Pvt - - 914.11 1,219.95 914.11 1,219.95
Ltd., India
Sub-Total 8,704.92 9,577.18 914.11 1,219.95 9,619.03 10,797.13
Reimbursement of Expenses Charged
by the Company/(on the Company)
Colgate-Palmolive Company, U.S.A. (4,755.23) (4,531.35) - - (4,755.23) (4,531.35)
Colgate-Palmolive Asia Pacific Limited - - (596.76) (788.88) (596.76) (788.88)
Others - - 236.88 281.15 236.88 281.15
Sub-Total (4,755.23) (4,531.35) (359.88) (507.73) (5,115.11) (5,039.08)
Dividend Paid
Colgate-Palmolive (Asia) Pte. Ltd., - - 12,796.31 11,605.95 12,796.31 11,605.95
Singapore
Norwood International Incorporated, - - 0.48 0.44 0.48 0.44
U.S.A.
Sub-Total 46,849.66 42,491.55 12,796.79 11,606.39 59,646.45 54,097.94
Royalty [exclusive of withholding tax
of D 4,198.07 lakhs (March 31, 2023 -
D 2,802.80 lakhs)]
Sub-Total 23,791.96 22,863.84 - - 23,791.96 22,863.84
(ii) Transactions entered into with Parties referred to in Category C
Year Ended
March 31, 2024 March 31, 2023
Executive Directors
Remuneration 1,191.22 1,451.39
Contribution to Provident and Other Funds* 48.49 41.75
Share Based Payments 544.27 161.84
Sub Total 1,783.98 1,654.98
*As the liabilities for defined benefit plan are provided based on actuarial
valuation for the Company as a whole, the amount pertaining to key
managerial persons are not included.
- Executive Directors
Prabha Narasimhan 917.02 419.40
M. S. Jacob 492.54 489.94
R. Raghavan - 186.76
M. Chandrasekar - 266.50
282

Year Ended
March 31, 2024 March 31, 2023
S. Sharma 374.42 292.38

Sub Total 1,783.98 1,654.98
- Independent Directors
Sitting Fees and Commission Paid
V. S. Mehta 32.50 29.50
I. Shahani 33.50 29.50
S. Gopinath 30.50 30.00
S. Kripalu 32.00 29.50
G. Pant 32.00 29.50
I. Bhushan 6.50 -
S. Natrajan 31.50 29.50
S.Gupta 2.00 -
Sub Total 200.50 177.50
(iii) Transactions entered into with Parties referred to in Category D
Year Ended
March 31, 2024 March 31, 2023
Contribution made by the Company in the following funds:
Colgate-Palmolive (India) Limited Provident Fund 1,300.74 1,204.31
Colgate-Palmolive India Gratuity Fund for Workmen 400.65 146.13
Colgate-Palmolive India Gratuity Fund for Non-Workmen 711.51 171.37
H in lakhs
Total
Outstanding Balances As at As at As at
2024 2023 2024 2023 2024 2023
Trade Receivables
Colgate-Palmolive Company, U.S.A. 931.24 899.58 - - 931.24 899.58
Hypo - Homecare Product Ltd. - - 2.50 2.47 2.50 2.47
Colgate-Palmolive Pty. Ltd., Boksburg - - 338.88 433.09 338.88 433.09
Colgate Palmolive Europe Sarl Ltd. - - 1,251.82 1,067.35 1,251.82 1,067.35
Colgate-Palmolive South Africa - - 13.15 57.64 13.15 57.64
Colgate-Palmolive Asia Pacific Limited - - 12.39 11.00 12.39 11.00
Others - - 595.42 888.56 595.42 888.56
Sub-Total (Refer Note 8) 931.24 899.58 2,214.16 2,460.11 3,145.40 3,359.69
Trade Payables
Colgate-Palmolive Asia Pacific Limited, - - 1,829.48 2,118.15 1,829.48 2,118.15
Hongkong
283


H in lakhs
Total
Outstanding Balances As at As at As at
2024 2023 2024 2023 2024 2023
Colgate Global Business Services Pvt - - 212.23 180.65 212.23 180.65

Limited, India
Others - - 37.39 95.91 37.39 95.91
Sub-Total (Refer Note 21) 8,933.20 8,033.78 2,079.10 2,394.71 11,012.30 10,428.49
Other Receivables (included in Other
Current Financial Assets)
Colgate-Palmolive Company, U.S.A. 83.26 112.04 - - 83.26 112.04
Colgate-Palmolive Asia Pacific Limited, - - 143.82 185.98 143.82 185.98
Hongkong
Colgate-Palmolive (Myanmar) Limited - - - 14.81 - 14.81
Colgate Palmolive Pty (LTD) - - 2.47 2.31 2.47 2.31
Others - - 39.21 95.84 39.21 95.84
Sub-Total (Refer Note 12) 83.26 112.04 185.50 298.94 268.76 410.98
Terms and conditions:
Transactions relating to dividends and bonus shares were on the same terms and conditions that apply to other
Shareholders.
Goods and Services procured or provided from/ to related parties are generally priced at arm’s length. Other
reimbursement of expenses to/ from related parties is on Cost basis.
All other transactions were made on normal commercial terms and conditions and at market rates.
All outstanding balances are unsecured and are repayable/ receivable in cash.
Note 38: Share Based Payments

(a) Employee option plan
The Company does not provide any equity-based compensation to its employees. However, the parent company,
Colgate-Palmolive Company, U.S.A. ("the grantor") maintains equity incentive plans that provide for the grant of stock-
based awards to its executive directors and certain categories of officers and employees. The Parent's Incentive Plan
provides for the grant of non-qualified and incentive stock options, as well as restricted stock units. Exercise prices in
the case of non-qualified and incentive stock options are not less than the fair value of the underlying common stock
on the date of grant.
A stock option gives an employee, the right to purchase shares of Colgate-Palmolive Company common stock at a
fixed price for a specific period of time. Stock options generally have a term of six years from the date of grant and
vest over a period of three years.
A restricted stock unit provides an employee with a share of Colgate-Palmolive Company common stock upon vesting.
Restricted stock units vest generally over a period of three years. Dividends will accrue with each restricted stock unit
award granted subsequent to the grant date.
284

Note 38: Share Based Payments (Contd..)

The details pertaining to number of options, weighted average price and assumptions considered for fair value are
disclosed below:
March 31, 2024 March 31, 2023

Weighted Weighted
Particulars Number of Number of
Average Average
options options
Exercise price Exercise price
Options outstanding at the beginning of the year 5,408 2,19,464 5,183 3,07,490
Options granted/transferred during the year 5,895 37,801 5,684 83,985
Exercised during the year 4,805 (32,082) 4,865 (61,762)
Transferred to other group companies during the year 5,659 (17,408) 5,295 (1,10,249)
Lapsed during the year - - - -
Options outstanding at the end of the year 5,569 2,07,775 5,408 2,19,464
Options vested and exercisable at the end of the year 1,15,317 1,12,638
The weighted average share price at the dates of exercise of options exercised during the year ended March 31, 2024
was H 6,231/- (March 31, 2023 : H 6,527/-)
Share options outstanding at the end of the year have the following expiry dates and exercise prices
March 31, 2024 March 31, 2023

Grant year Expiry Year Exercise price (J)
Number of options Number of options
2014 - 2016 2019 - 2022 3,907 - 4,890 - -
2017 - 2018 2020 - 2024 4,440 - 4,729 26,423 54,645
2019 2027 - 2029 5,153 27,958 29,969
2020-2023 2025 - 2031 5,658 - 5,990 1,53,394 1,34,850
Total 2,07,775 2,19,464
Weighted average remaining contractual life of options outstanding 4.75 Year 4.94 Years
at end of year
Fair Value of options granted

The fair value at the grant date of options granted during the year ended March 31, 2024 was H 1,224.59 per option
(March 31, 2023 : H 1,115.19 per option). The fair value at grant date is determined using the Black-Scholes Model which
takes into account the exercise price, expected volatility, option's life, the share price at grant date, expected price
volatility of the underlying share, the expected dividend yield and the risk free interest rate for the term of the option.
The model inputs for the options granted during the year ended March 31, 2024 and March 31, 2023 are as below:
Particulars March 31, 2024 March 31, 2023

Expected volatility (%) 21.67% 21.14%
Expected life of the options 6 years 6 years
Risk free interest rate(%) 2.79% 2.99%
Grant Year 2022 2022
Expiry Year 2031 2031
Expected dividend (%) 2.52% 2.42%
285

Note 38: Share Based Payments (Contd..)

The risk free interest rates are determined based on the zero-coupon sovereign bond yields with maturity equal to the
expected term of the option. The expected volatility was determined based on the volatility of the equity share for the
period of one year prior to issue of the option. Volatility calculation is based on historical stock prices using standard
deviation of daily change in stock price. The historical period is taken into account to match the expected life of the
option. Dividend yield has been calculated taking into account expected rate of dividend on equity share price as on
grant date.
(b) Restricted Stock Units (RSU's)
March 31, 2024 March 31, 2023

Weighted
Weighted
Particulars Number of Average Number of
Average Grant
Units Grant date Units
date Fair value
Fair value
Units outstanding at the beginning of the year 5,844 39,236 5,469 43,156
Units granted / transferred during the year 5,822 21,567 5,916 26,407
Exercised during the year 5,856 (13,704) 4,583 (10,969)
Transferred to other group companies during the year 5,785 (3,090) 5,517 (19,358)
Lapsed during the year - - - -
Units outstanding at the end of the year 5,833 44,009 5,844 39,236
Restricted Stock Units outstanding at the end of the year have the following expiry date and exercise prices
Particulars March 31, 2024 March 31, 2023

Weighted average remaining contractual life of RSUs outstanding at end 1.72 Years 1.79 Years
of year
The weighted average fair value at the date of exercise of RSU's exercised during the year ended March 31, 2024 was
H 6,444 (March 31, 2023 : H 6,340)
(c) Expenses Arising from share based payment transactions

Total expenses arising from share-based payment transactions recognised in statement of profit and loss as part of
employee benefit expense were as follows:
March 31, 2024 March 31, 2023

Particulars
(H Lakhs ) (H Lakhs)
Employee share based payment expense (Refer Note 28) 1,204.21 971.91
Note 39: Fair value measurements

The Company uses the following hierarchy for determining and disclosing the fair value of financial instrument:
Level 1 : Quoted prices for identical instruments in active market.
Level 2 : Directly or indirectly observable market inputs, other than Level 1 inputs; and
Level 3 : Inputs which are not based on observable market data.
286

Note 39: Fair value measurements (Contd..)

(i) Financial Instruments by Category and fair values of the same measured at amortised cost
(H in lakhs)
March 31, 2024 March 31, 2023
Carrying amount / Fair Value Carrying amount / Fair Value
Amortised Amortised
FVPL FVOCI FVPL FVOCI
cost cost
Financial Assets
(i) Investments - Non-Current - - - - - -
(ii) Trade Receivable - - 16,738.93 - - 15,736.61
(iii) Cash and Cash Equivalents - - 88,899.34 - - 80,605.68
(iv) Other Bank Balances - - 48,478.92 - - 11,693.84
(v) Loans - Current - - 666.50 - - 8,759.91
(vi) Loans - Non Current - - 96.91 - - 92.02
(vii) Receivable from Related Parties - - 268.76 - - 410.98
(viii)Security Deposits - Non-Current - - 1,429.87 - - 1,604.35
(ix) Security Deposits - Current - - 333.13 - - 190.00
(x) Insurance Claim Receivables - - - - - 35.11
(xi) Deposits with Banks - - 251.96 - - 249.62
Total Financial Assets - - 1,57,164.32 - - 1,19,378.12
(i) Trade payables-Total outstanding - - 703.69 - - 1,269.34
dues of micro enterprises and
small enterprises
(ii) Trade payables-Total outstanding - - 87,486.70 - - 74,843.06
dues of creditors other than
micro enterprises and small
enterprises
(iii) Security Deposits - Non-Current - - 130.08 - - 123.70
(iv) Lease Liabilities - - 7,174.93 - - 6,896.15
(v) Capital Creditors - - 496.74 - - 379.58
(vi) Dividends (Including Unpaid) - - 3,558.10 - - 3,308.19
(vii) Unpaid Balance of Share Capital - - 87.49 - - 85.65
Reduction
Total Financial liabilities - - 99,637.73 - - 86,905.67
(ii) Assets and Liabilities that are disclosed at Amortised Cost for which Fair values are disclosed are classified as Level 3.
Current financial asset and current financial liabilities have fair values that approximate to their carrying amounts due
to their short-term nature. Non current financial assets and non current financial liabilities have fair values that
approximate to their carrying amounts as it is based on the net present value of the anticipated future cash flows.
Note 40: Financial Risk Management

Inherent to the nature of the Company's business are a variety of financial risks, namely liquidity risk, market risk and credit
risk. Developing policies and processes to assess, monitor, manage and address these risks is the responsibility of the
Company's Management. The Risk Management Committee oversees this risk management framework in the Company
and intervenes as necessary to ensure there exists an appropriate level of safeguards against the key risks. Updates on
compliance, exceptions and mitigating action are placed before the Audit Committee periodically. Risk management
287

Note 40: Financial Risk Management (Contd..)

policies and systems are reviewed regularly to reflect changes like major changes in ERP systems or go to market model,
changes in organization structure, events denoting material change in the risk environment, etc.
The Company's Management works closely with its Treasury department and Internal Audit department to ensure there are
appropriate policies and procedures governing the operations of the Company with a view to providing assurance that
there is visibility into financial risks and that the business is being run in conformity with the stated risk objectives. Periodic
reviews with concerned stakeholders provides an insight into risks to the business associated with currency movements,
credit risks, commodity price fluctuations, etc. and necessary deliberations are undertaken to ensure there is an appropriate
response to the developments.
A MANAGEMENT OF LIQUIDITY RISK

The Company follows a conservative policy of ensuring sufficient liquidity at all times through a strategy of profitable
growth, efficient working capital management as well as prudent capital expenditure and dividend policies. The
Company has a overdraft facility with banks to support any temporary funding requirements. The Company is cognizant
of reputational risks that are associated with the liquidity risk and the risk is factored into the overall business strategy.
The Company's treasury department regularly monitors the rolling forecasts to ensure it has sufficient cash on an on-
going basis to meet operational needs. Any short term surplus cash generated by the operating entities, over and above
the amount required for working capital management and other operational requirements, is retained as cash and cash
equivalents (to the extent required) and any excess is invested in interest bearing term deposits and debt investments with
appropriate maturities to optimise the cash returns on investments while ensuring sufficient liquidity to meet its liabilities.
The following table shows the maturity analysis of the Company's financial liabilities based on contractually agreed
undiscounted cash flows as at the Balance Sheet date.
(H in lakhs)
Carrying Payable on Less than 3 3-12 More than
Total
Amount demand months months 12 months
As at March 31, 2024
(i) Trade payables 88,190.39 - 88,190.39 - - 88,190.39
(ii) Security Deposits 130.08 - - - 130.08 130.08
(iii) Lease Liabilities 7,174.93 - 305.06 915.17 5,954.70 7,174.93
(iv) Capital Creditors 496.74 - 496.74 - - 496.74
(v) Dividends (Including Unpaid) 3,558.10 3,558.10 - - - 3,558.10
(vi) Unpaid Balance of Share Capital 87.49 87.49 - - 87.49
Reduction
As at March 31, 2023

(i) Trade payables 76,112.40 - 76,112.40 - - 76,112.40
(ii) Security Deposits 123.70 - - - 123.70 123.70
(iii) Lease Liabilities 6,896.15 - 305.52 916.57 5,674.06 6,896.15
(iv) Capital Creditors 379.58 - 379.58 - - 379.58
(v) Dividends (Including Unpaid) 3,308.19 3,308.19 - - - 3,308.19
(vi) Unpaid Balance of Share Capital 85.65 85.65 - - - 85.65
Reduction
288


B MANAGEMENT OF MARKET RISK
The Company’s size and operations result in it being exposed to the following market risks that arise from its use of
financial instruments:
• currency risk;
• commodity price risk;
The above risks may affect the Company’s income and expenses, or the value of its financial instruments. The
objective of the Company’s Management of market risk is to maintain this risk within acceptable parameters, while
optimising returns. The Company’s exposure to, and management of, these risks are explained below.
POTENTIAL IMPACT OF RISK MANAGEMENT POLICY SENSITIVITY TO RISK

1. CURRENCY RISK
The Company is subject to the risk of The Company is exposed to foreign As an estimation of the
changes in foreign currency values that exchange risk arising from various approximate impact of the
impact costs of imported raw material currency exposures, primarily with residual risk, with respect to
(directly and by local suppliers), import of respect to USD, Euro, and Chinese financial instruments, the
finished goods, equipment for expansion at Yuan. The Company's business Company has calculated the
the plants, expatriate costs, service income, model incorporates assumptions impact of a 1% change in
reimbursement of expenses, service related on currency risks and ensures any exchange rates.
charges from overseas related and third exposure is covered through the
A 1% strengthening of the INR
parties as well as revenue from exports. normal business operations. This
against key currencies to which
Receivable and Payable having foreign intent has been achieved in all years
the Company is exposed at
currencies denomination in the balance presented.
year end would have led to
sheet will also be impacted.
approximately an additional
As at March 31, 2024, the unhedged H 6.29 lakhs pre-tax gain in the
exposure to the Company on holding Statement of Profit and Loss
financial assets and liabilities other than in (2022-23 : H 5.04 lakhs pre-tax
its functional currency amounted to H 3,303 gain). A 1% weakening of the
Lakhs and H 3,933 Lakhs respectively (March INR against these currencies
31, 2023 : H 3,531 Lakhs and H 4,035 Lakhs) would have led to an equal but
opposite effect.
A 1% strengthening of the INR
against key currencies would
have led to approximately an
additional pre-tax gain of
H 809 lakhs in the Statement
of Profit and Loss (2022-23 :
H 865 Lakhs pre-tax gain). A 1%
weakening in currency prices
would have led to an equal but
opposite effect.
289

POTENTIAL IMPACT OF RISK MANAGEMENT POLICY SENSITIVITY TO RISK

2. COMMODITY PRICE RISK
The Company is exposed to the risk of The Company develops periodic A 1% increase in commodity
changes in commodity prices in relation to financial forecasts based on prices would have led to
its purchase of its raw materials especially commodity price forecasts by its approximately H 530 lakhs
corn, carton board, resins and palm oils. Procurement group and additional loss in the
appropriate actions including Statement of Profit and Loss
selling price changes and cost (2022-23: H 601 Lakhs loss).
saving measures to reduce the A 1% weakening in
impact of commodity price commodity prices would
changes is considered as part of have led to an equal but
the financial modelling. opposite effect.
C MANAGEMENT OF CREDIT RISK

Credit risk is the risk of financial loss to the Company if a customer or other counter-party fails to meet its contractual
obligations.
Trade Receivables
Trade receivables are subject to credit limits, controls and approval processes. A majority of customers pay prior to
shipment, thereby reducing exposure to trade receivables significantly. Due to a large customer base, the Company is
not exposed to material concentration of credit risk. Basis the historical experience supported by the level of default,
the credit risk in case of trade receivable is low and so trade receivables are considered to be a single class of financial
assets. (Refer Accounting Policy 1 B (i) on trade receivables.)
The gross carrying amount of trade receivables is H 17,335.20 Lakhs as at March 31, 2024 and H 16,328.63 Lakhs as at
March 31, 2023.
(I) Reconciliation of loss allowance provision- Trade receivables

(H in lakhs)
March 31, 2024 March 31, 2023
Loss allowance at the beginning of the year 592.02 682.68
Add / (Less) : Changes in loss allowances 4.25 (90.66)
Loss allowance at the end of the year 596.27 592.02
Balance as on March 31, 2024
Ageing Not due 0-180 days >180 days Total

Gross carrying amount 8,969.29 7,337.51 1,028.40 17,335.20
Provision for doubtful debts - - (596.27) (596.27)
Carrying amount of trade receivables 8,969.29 7,337.51 432.13 16,738.93
(net of Provision)
290


Balance as on March 31, 2023
Ageing Not due 0-180 days >180 days Total

Gross carrying amount 9,468.48 5,952.15 908.00 16,328.63
Provision for doubtful debts - - (592.02) (592.02)
Carrying amount of trade receivables 9,468.48 5,952.15 315.98 15,736.61
(net of Provision)
Other financial assets

The Company maintains exposure in cash and cash equivalents, term deposits with banks and investments in debt
instruments. The Company concentrates its major investment activities with a limited number of counter-parties which
have secure credit ratings, to reduce this risk. Individual risk limits are set for each counter-party based on financial
position, credit rating and past experience. Credit limits and concentration of exposures are actively monitored by the
Company's Treasury department.
Note 41: Capital Management

The Company's objective in managing its capital is to safeguard its ability to continue as a going concern and to optimise
returns to our Shareholders. The Company considers the following components of its Balance Sheet to be managed capital:
1) Share Capital, 2) Securities Premium and 3) Other Reserves comprising of General Reserve and Retained Earnings.
The Company's capital structure is based on the Managements assessment of the balances of key elements to ensure
strategic decisions and day to day activities. The capital structure of the Company is managed with a view of the overall
macro economic conditions and the risk characteristics of the underlying assets.
The Company’s policy is to maintain a strong capital structure with a focus to mitigate all existing and potential risks to the
Company, maintain Shareholder, vendor and market confidence and sustain continuous growth and development of the
Company.
The Company's focus is on keeping a strong total equity base to ensure independence, security, as well as high financial
flexibility without impacting the risk profile of the Company.
In order, to maintain or adjust the capital structure, the Company will take appropriate steps as may be necessary. The
Company does not have any debt or financial covenants.
Note 42: Details of dues to micro and small enterprises as defined under the MSMED Act, 2006
The Company has certain dues to suppliers registered under Micro, Small and Medium Enterprises Development Act,
2006 ('MSMED Act'). The disclosures pursuant to the said MSMED Act are as follows:
Year ended Year ended
Particulars
March 31, 2024 March 31, 2023
(i) Principal amount due to suppliers registered under the MSMED Act and 703.69 1,269.34
remaining unpaid as at year end*
(ii) Interest due to suppliers registered under the MSMED Act and remaining 0 0
unpaid as at year end
(iii) Principal amounts paid to suppliers registered under the MSMED Act, 835.75 495.52
beyond the appointed day during the year
291

Note 42: Details of dues to micro and small enterprises as defined under the MSMED Act, 2006 (cont.)

Particulars
March 31, 2024 March 31, 2023
(iv) Interest paid, other than under Section 16 of MSMED Act, to suppliers 0 0
registered under the MSMED Act, beyond the appointed day during the year
(v) Interest paid, under Section 16 of MSMED Act, to suppliers registered under 0 0
the MSMED Act, beyond the appointed day during the year
(vi) Interest due and payable towards suppliers registered under MSMED Act, for 7.13 3.04
payments already made**
(vii) Further interest remaining due and payable for earlier years 0 0
* The principal amount represents amount outstanding as per invoices received from vendors as at the Balance Sheet date.
** Includes interest on amounts outstanding as at the beginning of the accounting year.
Note 43: Ratio Analysis and its elements

March March %
Ratio Numerator Denominator Reason for variance
31, 2024 31, 2023 Change
Current ratio Current Assets Current Liabilities 1.54 1.43 8% -

Debt Equity ratio Total Debt Total Shareholder's 0.04 0.04 0% -
Equity
Debt Service Coverage Earnings available Debt Service** 78.92 64.24 23% -
ratio for Debt Service*
Return on Equity ratio Net Profits after Average Shareholder's 0.74 0.61 21% -
taxes Equity
Inventory Turnover ratio Cost of goods sold Average inventory 5.45 5.18 5% -
Trade Receivable Net Sales Average Trade 34.76 27.16 28% Increase in
Turnover Receivable receivables driven
out of increase in
sales and change in
channel mix to new
retail channels
Trade Payable Turnover Net Credit Average Trade Payable 2.05 2.31 -11% -
Purchases
Net Capital Turnover ratio Net Sales Working capital*** 8.49 11.20 -24% -
Net Profit ratio Net Profit Net Sales 0.23 0.20 15% -
Return on Capital Earnings before Capital Employed**** 0.99 0.84 18% -
employed interest and taxes
Return on Investment Income generated Time weighted average 0.07 0.05 40% Higher return on
from Investments Investments***** investment is on
account of higher
interest rates and
higher investments
in Fixed Deposits
* Earnings available for Debt Service = Net profit after taxes + Non cash operating expenses like depreciation and amortizations + Interest + loss on sale of
fixed assets
**Debt Service = Interest + Principal payments
*** Working capital = Current assets - Current liabilities
**** Capital Employed = Total Shareholders equity (Other equity + Equity Share capital) - Deferred Tax assets
***** Time weighted average Investments = Number of days of investment / 365 days * Value of Investment
292

Note 44: Relationship with struck off companies J in lakhs
Nature of Relationship with the Relationship with

Name of struck off March 31, March 31,
transactions with Struck off company, the Struck off company,
company 2024 2023
struck off company if any, to be disclosed if any, to be disclosed
Kothari Intergroup Limited Shareholders 0.00 None 0.00 None
M H T Investment Private Shareholders 0.00 None - None
Limited
Nibr Metal Industries Shareholders 0.00 None - None
Private Limited
Paxal Leasing Ltd Shareholders 0.01 None 0.01 None
R. Sanghi Stock Brokers Shareholders 0.00 None 0.00 None
And Finance Private
Limited
Karni Securities Private Shareholders 0.00 None - None
Limited
Roopak Trading And Shareholders 0.00 None 0.00 None
Investments Private
Limited
Siddha Papers Private Shareholders 0.00 None 0.00 None
Limited
The India Sugar Agencies Shareholders 0.00 None 0.00 None
Private Limited
Economic Gateway Vendor 0.71 None 0.71 None
Consultants Private
Limited
Havin Homes Realty & Vendor - None 0.14 None
Consulting Services
Private Limited
Multitech System Vendor - None 0.07 None
Industrial Automation
Private Limited
Orion Innovations India Vendor 12.00 None 12.00 None
Private Limited
Note : Amount less than J 1,000 appearing in above table are disclosed at 0.00 due to presentation in lakhs.
Note 45: The Company has used accounting software for maintaining its books of account which has a feature of
recording audit trail (edit log) facility and the same has operated throughout the year for all relevant transactions recorded
in the software. With respect to changes made by certain privileged access rights to the SAP application and/or the
underlying database audit trail feature is not enabled. The Company does have a privileged access monitoring tool that
monitors these access rights and the Company is in the process of further strengthening this feature with adequate logs to
be maintained. Further no instance of audit trail feature being tampered with was noted in respect of the software. The
Company is also in the process of maintaining daily back up of audit trail (edit logs) on servers physically located in India.
Note 46: Other Statutory information

(i) The company does not have any Benami property, where any proceeding has been initiated or pending against the
company for holding any Benami property.
(ii) The company does not have any such transaction which is not recorded in the books of accounts that has been
surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as,
search or survey or any other relevant provisions of the Income Tax Act, 1961).
293

(iii) The Company has not been declared as wilful defaulter by any bank or financial institution or any other lender.
(iv) The Company has not traded, nor invested in any Crypto currency or virtual currency during the period ended March
31, 2024.
(v) During the period, the Company has not advanced or given any loan or invested funds to any other persons or entities,
including foreign entities (Intermediaries) with the understanding that Intermediary shall:
(a) Directly or indirectly lend or invest in other persons or entities identified in any manner whatsover by or on behalf
of the company (Ultimate Beneficiaries ) or
(b) Provide any guarantee, security or the like to or on behalf the Ultimate Beneficiaries.
(vi) During the period, the Company has not received any fund from any persons or entities, including foreign
entities(Funding Party) with the understanding (whether recorded in writing or otherwise) that Company shall:
(a) Directly or indirectly lend or invest in other persons or entities identified in any manner whatsover by or on behalf
of the Funding Party (Ultimate Beneficiaries) or
(b) Provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
Note 47: Subsequent to year end, the Company has declared a Second Interim dividend of H 26/- per share and one time
special interim dividend of H 10/- per share aggregating to H 97,915 Lakhs on May 14, 2024 for FY 2023-24 which will be
paid on and from June 7, 2024.
Note 48: Exceptional Item includes severance and related expenses of H 1,950.20 Lakhs (Previous Year : 1,120.87 Lakhs)
for the year ended 31st March 2024 with respect to certain organisation structure changes.
Note 49: Previous year's figures have been regrouped / reclassified as considered necessary, to conform with the current
year presentation, where applicable.
Signature to Notes 1 to 49 are an integral part of these financial statements

(DIN : 07645510) (DIN : 08822860)

(F-8913)
(DIN : 02731373)
Date : May 14, 2024 Date : May 14, 2024
294
GRI Content Index
Statement of use Colgate-Palmolive India Limited has reported in accordance with the GRI Standards for the period April 01, 2022 to March
31, 2023.
GRI 1 used CRI 1: Foundation 2021
Applicable GRI Sector Standard(s) Not applicable
OMISSION GRI SECTOR

GRI STANDARD/
DISCLOSURE LOCATION REQUIREMENT(S) STANDARD
OTHER SOURCE REASON EXPLANATION
OMITTED REF. NO.
General disclosures
GRI 2: General 2-1 Organizational details Page 4 A blue cell indicates that reasons for omission are not permitted for
Disclosures 2021 the disclosure or that a GRI Sector Standard reference number is
2-2 Entities included in the organization's Page 4 not available.
sustainability reporting
2-3 Reporting period, frequency and contact point Page 4
2-4 Restatements of information Page 208, 209,
199, 210, 211, 212
2-5 External assurance Page 183
2-6 Activities, value chain and other business Page 10
relationships Page 184
2-7 Employees Page 84
2-8 Workers who are not employees Page 84
2-9 Governance structure and composition Page 21
Page 34-41
2-10 Nomination and selection of the highest Page 135
governance body
2-11 Chair of the highest governance body Page 21
2-12 Role of the highest governance body in Page 21
overseeing the management of impacts
2-13 Delegation of responsibility for managing Page 21
GRI Content Index

impacts
2-14 Role of the highest governance body in Page 23
sustainability reporting
295
296
OMISSION GRI SECTOR

GRI STANDARD/
OMITTED REF. NO.
2-15 Conflicts of interest Page 194
2-16 Communication of critical concerns Page 21
2-17 Collective knowledge of the highest Page 37-39
governance body
2-18 Evaluation of the performance of the highest Page 129
governance body
2-19 Remuneration policies Page 78
2-20 Process to determine remuneration Page 78
2-21 Annual total compensation ratio Page 270
2-22 Statement on sustainable development Page 2-3
strategy
2-23 Policy commitments Page 35
Page 85
2-24 Embedding policy commitments Page 131
2-25 Processes to remediate negative impacts Page 130
Page 186
2-26 Mechanisms for seeking advice and raising Page 22
concerns
2-27 Compliance with laws and regulations Page 192
2-28 Membership associations Page 215
2-29 Approach to stakeholder engagement Page 22
2-30 Collective bargaining agreements Page 78
Material topics
GRI 3: Material 3-1 Process to determine material topics Page 22 A blue cell indicates that reasons for omission are not permitted for
Topics 2021 the disclosure or that a GRI Sector Standard reference number is
3-2 List of material topics Page 22 not available.
Business ethics and governance

GRI 3: Material 3-3 Management of material topics Page 22

Topics 2021
GRI 205: Anti- 205-1 Operations assessed for risks related to Page 194
corruption 2016 corruption
205-2 Communication and training about anti- Page 193
corruption policies and procedures
205-3 Confirmed incidents of corruption and actions Page 194
taken
GRI 206: 206-1 Legal actions for anti-competitive behavior, Page 215
Anti-competitive anti-trust, and monopoly practices
Behavior 2016
OMISSION GRI SECTOR
GRI STANDARD/
OMITTED REF. NO.
Sustainable packaging
Topics 2021
GRI 301: Materials 301-1 Materials used by weight or volume Page 62
2016
301-2 Recycled input materials used Page 62
301-3 Reclaimed products and their packaging Page 62
materials
Energy & Emission Management
GRI 3: Material 3-3 Management of material topics Page 54, 69
Topics 2021
GRI 302: Energy 302-1 Energy consumption within the organization Page 57
2016
302-2 Energy consumption outside of the 302-2 Information We are in the
organization unavailable/ process of
incomplete setting up
monitoring
systems
for energy
consumption
outside of the
organization
302-3 Energy intensity Page 57, 208
302-4 Reduction of energy consumption Page 57
302-5 Reductions in energy requirements of 302-5 Not Our products
products and services applicable don't consume
energy in the
use phase
GRI 305: Emissions 305-1 Direct (Scope 1) GHG emissions Page 59
2016
305-2 Energy indirect (Scope 2) GHG emissions Page 59
GRI Content Index

305-3 Other indirect (Scope 3) GHG emissions 305-3 Information We are in the
unavailable/ process of
incomplete setting up
monitoring
systems for
297
Scope 3
emissions
298
OMISSION GRI SECTOR

GRI STANDARD/
OMITTED REF. NO.
305-4 GHG emissions intensity Page 210
305-5 Reduction of GHG emissions Page 57, 59
305-6 Emissions of ozone-depleting substances Page 59
(ODS)
305-7 Nitrogen oxides (NOx), sulfur oxides (SOX), Page 59
and other significant air emissions
Water Stewardship
Topics 2021
GRI 303: Water 303-1 Interactions with water as a shared resource Page 63
and Effluents 2018
303-2 Management of water discharge-related Page 63-64
impacts
303-3 Water withdrawal Page 63, 208
303-4 Water discharge Page 64, 209
303-5 Water consumption Page 63-64
Waste Management
Topics 2021
GRI 306: Waste 306-1 Waste generation and significant waste- Page 60
2020 related impacts
306-2 Management of significant waste-related Page 60
impacts
306-3 Waste generated Page 60, 210
306-4 Waste diverted from disposal Page 61
306-5 Waste directed to disposal Page 61
Responsbile supply chain
Topics 2021

GRI 204: 204-1 Proportion of spending on local suppliers Page 69
Procurement
Practices 2016
GRI 308: Supplier 308-1 New suppliers that were screened using Page 69
Environmental environmental criteria
Assessment 2016 308-2 Negative environmental impacts in the supply Page 69, 71
chain and actions taken
OMISSION GRI SECTOR
GRI STANDARD/
OMITTED REF. NO.
GRI 414: Supplier 414-1 New suppliers that were screened using social Page 69
Social Assessment criteria
2016 414-2 Negative social impacts in the supply chain Page 69, 71
and actions taken
Product Stewardship
Topics 2021
GRI 417: Marketing 417-1 Requirements for product and service Page 46, 47
and Labeling 2016 information and labeling
417-2 Incidents of non-compliance concerning Page 46, 47
product and service information and labeling
417-3 Incidents of non-compliance concerning Page 46, 47
marketing communications
Health and safety of our people
Topics 2021
GRI 403: 403-1 Occupational health and safety management Page 86, 87
Occupational system
Health and Safety 403-2 Hazard identification, risk assessment, and Page 87
2018 incident investigation
403-3 Occupational health services Page 87
403-4 Worker participation, consultation, and Page 78
communication on occupational health and safety
403-5 Worker training on occupational health and Page 87
safety
403-6 Promotion of worker health Page 87
403-7 Prevention and mitigation of occupational Page 87
health and safety impacts directly linked by business
relationships
403-8 Workers covered by an occupational health Page 86
and safety management system
403-9 Work-related injuries Page 88
GRI Content Index

403-10 Work-related ill health Page 88
299
300
OMISSION GRI SECTOR

GRI STANDARD/
OMITTED REF. NO.
Diversity and inclusion
Topics 2021
GRI 405: Diversity 405-1 Diversity of governance bodies and Page 84
and Equal employees
Opportunity 2016
405-2 Ratio of basic salary and remuneration of Page 84
women to men
Human rights
GRI 406: Non- 406-1 Incidents of discrimination and corrective Page 69, 71
discrimination actions taken
2016
GRI 407: Freedom 407-1 Operations and suppliers in which the right to Page 69, 71
of Association freedom of association and collective bargaining
and Collective may be at risk
Bargaining 2016
GRI 408: Child 408-1 Operations and suppliers at significant risk for Page 69, 71
Labor 2016 incidents of child labor
GRI 409: Forced or 409-1 Operations and suppliers at significant risk for Page 69, 71
Compulsory Labor incidents of forced or compulsory labor
2016
GRI 410: Security 410-1 Security personnel trained in human rights Page 85
Practices 2016 policies or procedures
GRI 411: Rights 411-1 Incidents of violations involving rights of Page 69
of Indigenous indigenous peoples
Peoples 2016
Community development
Topics 2021

GRI 413: Local 413-1 Operations with local community engagement, Page 98
Communities 2016 impact assessments, and development programs
OMISSION GRI SECTOR
GRI STANDARD/
OMITTED REF. NO.
Consumer health and safety
Topics 2021
GRI 416: Customer 416-1 Assessment of the health and safety impacts Page 46
Health and Safety of product and service categories
2016
416-2 Incidents of non-compliance concerning the Page 46
health and safety impacts of products and services
Others
GRI 401: 401-1 New employee hires and employee turnover Page 84, 216
Employment 2016
401-2 Benefits provided to full-time employees Page 78
that are not provided to temporary or part-time
employees
401-3 Parental leave Page 81
GRI 404: Training 404-1 Average hours of training per year per Page 84
and Education employee
2016
404-2 Programs for upgrading employee skills and Page 78, 92
transition assistance programs
404-3 Percentage of employees receiving regular Page 93
performance and career development reviews
GRI Content Index

301
cognito
Your Company cares about the environment and sustainability,

and we urge you to do the same. Please do not print this out
unless absolutely necessary.

Colgate Annual Report 2023 24

Uploaded by

Copyright:

Available Formats

Colgate Annual Report 2023 24

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Colgate Annual Report 2023 24

Uploaded by

Copyright:

Available Formats

Annual & ESG Report

02 Message from the MD & CEO 111 Notice

04 About the Report 123 Report of the Directors

Click to access the digital version:

Grow, Strengthen, Simplify

THE MD & CEO signiﬁcant step up in our growth

GRI 2-22 GRI 2-22

ABOUT THE REPORT

GRI 2-1, GRI 2-2, GRI 2-3

We are strengthening our brand portfolio by #DaantonKaPoshan #NeendBhagaoTaazgiJagao #BrushTonight

In FY 2023-24, we further strengthened our portfolio

Registered Head Oﬃce and

Customer Development Initiatives

S 5,644 Cr S 1,199 Cr India's # 1

69.5% 38.1 39.7 38.5

Our Story Over A Decade

Investments 3,713 3,116 3,116 3116 3,115 1,862 1,861 - - -

C. Equity Share Data

Dividend Per Share (J)*** 24 10 10 24 23 28 38 40 39 58****

50% ~107% 4 3 83%

Over Over Over

Sustainability ESG ESG Governance

Stakeholder Our 5-step Systematic Approach

ESG Governance and Monitoring Framework

Materiality Assessment Stakeholder Engagement

Consumer Health Business Ethics, Governance &

Product Stewardship cell and social media engagement.

Energy & Emission

Local In-person meetings and engagement with local communities,

Media Direct inquiries and feedback.

Helping Millions of Homes

Sustainable Risks &

Design Sustainable Simultaneously, we have

Our partnerships and

Ÿ Dividend Distribution Policy Ÿ Sustainable Sourcing

For more details on our policies: https://www.colgateinvestors.co.in/policies | https://www.colgatepalmolive.com/en-us/who-we-are/our-policies

GRI 2-9 GRI 2-23

Business Integrity Board of Directors

GRI 2-17 GRI 2-17

Prabha Narasimhan M. S. Jacob Surender Sharma Fairness

This organized approach to corporate governance not only promotes

BRSR and BRSR Assurance

In our endeavor to inspire trust and transparency, we proactively adopted the

This year, we've furthered our commitment by obtaining independent

100% Toothpaste Tubes

To help To develop and deliver

millions of homes Happy and Healthy Lives

and customer delight

We are dedicated to developing science-backed

Leading the Way Through

Charting a Zig Zag

Ÿ A toothbrush relaunch, on an average, requires 8-9

Net Zero Water

With science-driven initiatives, Focus Areas

the planet and its people.

FY 2023-24 11,244.22 39,875.25 28,649.84 1,42,877.33 39,894.06 1,92,752.58 2,22,646.64

FY 2022-23 11,884.28 40,653.86 0 1,72,998.46 11,884.28 2,13,652.33 2,25,536.60

* Compared to similarly sized Colgate Toothbrushes

GRI 302-1, GRI 302-3, GRI 302-4, GRI 305-5

Dividend Per Share (J)* 24 10 10 24 23 28 38 40 39 58**