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Unilever's mission is to add Vitality to life. We meet everyday needs for

nutrition, hygiene, and personal care with brands that help people feel good,
look good and get more out of life.
Unilever's mission is to add Vitality to life. We meet everyday needs for
nutrition, hygiene and personal care with brands that help people feel good,
look good and get more out of life.
Our deep roots in local cultures and markets around the world give us our
strong relationship with consumers and are the foundation for our future
growth. We will bring our wealth of knowledge and international expertise to
the service of local consumers - a truly multi-local multinational.

Our long-term success requires a total commitment to exceptional standards

of performance and productivity, to working together effectively, and to a
willingness to embrace new ideas and learn continuously.
To succeed also requires, we believe, the highest standards of corporate
behaviour towards everyone we work with, the communities we touch, and
the environment on which we have an impact.
This is our road to sustainable, profitable growth, creating long-term value
for our shareholders, our people, and our business partners.
pAST MILESTONE

Over 100 years' link with India

In the summer of 1888, visitors to the Kolkata harbour noticed crates full of
Sunlight soap bars, embossed with the words "Made in England by Lever
Brothers". With it, began an era of marketing branded Fast Moving
Consumer Goods (FMCG).

Soon after followed Lifebuoy in 1895 and other famous brands like Pears,
Lux and Vim. Vanaspati was launched in 1918 and the famous Dalda brand
came to the market in 1937.

In 1931, Unilever set up its first Indian subsidiary, Hindustan Vanaspati

Manufacturing Company, followed by Lever Brothers India Limited (1933)
and United Traders Limited (1935). These three companies merged to form
HLL in November 1956; HLL offered 10% of its equity to the Indian public,
being the first among the foreign subsidiaries to do so. Unilever now holds
51.55% equity in the company. The rest of the shareholding is distributed
among about 380,000 individual shareholders and financial institutions.
The erstwhile Brooke Bond's presence in India dates back to 1900. By 1903,
the company had launched Red Label tea in the country. In 1912, Brooke
Bond & Co. India Limited was formed. Brooke Bond joined the Unilever fold
in 1984 through an international acquisition. The erstwhile Lipton's links with
India were forged in 1898. Unilever acquired Lipton in 1972, and in 1977
Lipton Tea (India) Limited was incorporated.

Pond's (India) Limited had been present in India since 1947. It joined the
Unilever fold through an international acquisition of Chesebrough Pond's USA
in 1986.

Since the very early years, HLL has vigorously responded to the stimulus of
economic growth. The growth process has been accompanied by judicious
diversification, always in line with Indian opinions and aspirations.

The liberalisation of the Indian economy, started in 1991, clearly marked an

inflexion in HLL's and the Group's growth curve. Removal of the regulatory
framework allowed the company to explore every single product and
opportunity segment, without any constraints on production capacity.

Simultaneously, deregulation permitted alliances, acquisitions and mergers.

In one of the most visible and talked about events of India's corporate
history, the erstwhile Tata Oil Mills Company (TOMCO) merged with HLL,
effective from April 1, 1993. In 1995, HLL and yet another Tata company,
Lakme Limited, formed a 50:50 joint venture, Lakme Lever Limited, to
market Lakme's market-leading cosmetics and other appropriate products of
both the companies. Subsequently in 1998, Lakme Limited sold its brands to
HLL and divested its 50% stake in the joint venture to the company.

HLL formed a 50:50 joint venture with the US-based Kimberly Clark
Corporation in 1994, Kimberly-Clark Lever Ltd, which markets Huggies
Diapers and Kotex Sanitary Pads. HLL has also set up a subsidiary in Nepal,
Nepal Lever Limited (NLL), and its factory represents the largest
manufacturing investment in the Himalayan kingdom. The NLL factory
manufactures HLL's products like Soaps, Detergents and Personal Products
both for the domestic market and exports to India.
The 1990s also witnessed a string of crucial mergers, acquisitions and
alliances on the Foods and Beverages front. In 1992, the erstwhile Brooke
Bond acquired Kothari General Foods, with significant interests in Instant
Coffee. In 1993, it acquired the Kissan business from the UB Group and the
Dollops Icecream business from Cadbury India.

As a measure of backward integration, Tea Estates and Doom Dooma, two

plantation companies of Unilever, were merged with Brooke Bond. Then in
July 1993, Brooke Bond India and Lipton India merged to form Brooke Bond
Lipton India Limited (BBLIL), enabling greater focus and ensuring synergy in
the traditional Beverages business. 1994 witnessed BBLIL launching the
Wall's range of Frozen Desserts. By the end of the year, the company
entered into a strategic alliance with the Kwality Icecream Group families
and in 1995 the Milkfood 100% Icecream marketing and distribution rights
too were acquired.

Finally, BBLIL merged with HLL, with effect from January 1, 1996. The
internal restructuring culminated in the merger of Pond's (India) Limited
(PIL) with HLL in 1998. The two companies had significant overlaps in
Personal Products, Speciality Chemicals and Exports businesses, besides a
common distribution system since 1993 for Personal Products. The two also
had a common management pool and a technology base. The amalgamation
was done to ensure for the Group, benefits from scale economies both in
domestic and export markets and enable it to fund investments required for
aggressively building new categories.

In January 2000, in a historic step, the government decided to award 74 per

cent equity in Modern Foods to HLL, thereby beginning the divestment of
government equity in public sector undertakings (PSU) to private sector
partners. HLL's entry into Bread is a strategic extension of the company's
wheat business. In 2002, HLL acquired the government's remaining stake in
Modern Foods.

In 2003, HLL acquired the Cooked Shrimp and Pasteurised Crabmeat

business of the Amalgam Group of Companies, a leader in value added
Marine Products exports.
PRESENT STATURE

Hindustan Lever Limited (HLL) is India's largest Fast Moving Consumer

Goods company, touching the lives of two out of three Indians with over 20
distinct categories in Home & Personal Care Products and Foods &
Beverages. They endow the company with a scale of combined volumes of
about 4 million tonnes and sales of Rs.10,000 crores.

HLL is also one of the country's largest exporters; it has been recognised as
a Golden Super Star Trading House by the Government of India.

The mission that inspires HLL's 36,000 employees, including over 1,350
managers, is to "add vitality to life." HLL meets everyday needs for nutrition,
hygiene, and personal care with brands that help people feel good, look good
and get more out of life. It is a mission HLL shares with its parent company,
Unilever, which holds 51.55% of the equity. The rest of the shareholding is
distributed among 380,000 individual shareholders and financial institutions.

HLL's brands - like Lifebuoy, Lux, Surf Excel, Rin, Wheel, Fair & Lovely,
Pond's, Sunsilk, Clinic, Pepsodent, Close-up, Lakme, Brooke Bond, Kissan,
Knorr-Annapurna, Kwality Wall's – are household names across the country
and span many categories - soaps, detergents, personal products, tea,
coffee, branded staples, ice cream and culinary products. They are
manufactured in close to 80 factories. The operations involve over 2,000
suppliers and associates. HLL's distribution network, comprising about 7,000
redistribution stockists, directly covers the entire urban population, and
about 250 million rural consumers.

HLL has traditionally been a company, which incorporates latest technology

in all its operations. The Hindustan Lever Research Centre (HLRC) was set up
in 1958, and now has facilities in Mumbai and Bangalore. HLRC and the
Global Technology Centres in India have over 200 highly qualified scientists
and technologists, many with post-doctoral experience acquired in the US
and Europe.

HLL believes that an organisation's worth is also in the service it renders to

the community. HLL is focusing on health & hygiene education, women
empowerment, and water management. It is also involved in education and
rehabilitation of special or underprivileged children, care for the destitute
and HIV-positive, and rural development. HLL has also responded in case of
national calamities / adversities and contributes through various welfare
measures, most recent being the village built by HLL in earthquake affected
Gujarat, and relief & rehabilitation after the Tsunami caused devastation in
South India.

Over the last three years the company has embarked on an ambitious
programme, Shakti. Through Shakti, HLL is creating micro-enterprise
opportunities for rural women, thereby improving their livelihood and the
standard of living in rural communities. Shakti also includes health and
hygiene education through the Shakti Vani Programme, and creating access
to relevant information through the iShakti community portal. The
programme now covers about 50,000 villages in 12 states. HLL's vision is to
take this programme to 100,000 villages impacting the lives of over a 100
million rural Indians.

HLL is also running a rural health programme – Lifebuoy Swasthya Chetana.

The programme endeavours to induce adoption of hygienic practices among
rural Indians and aims to bring down the incidence of diarrhoea. It has
already touched 70 million people in approximately 15000 villages of 8
states. The vision is to make a billion Indians feel safe and secure.

If Hindustan Lever straddles the Indian corporate world, it is because of

being single-minded in identifying itself with Indian aspirations and needs in
every walk of life.
MANAGEMENT STURCTURE

Hindustan Lever Limited is India's largest Fast Moving Consumer Goods

(FMCG) company. It is present in Home & Personal Care and Foods &
Beverages categories. HLL and Group companies have about 36,000
employees, including 1350 managers.

The fundamental principle determining the organisation structure is to infuse

speed and flexibility in decision-making and implementation, with
empowered managers across the company's nationwide operations. For this,
HLL is organised into two self-sufficient divisions - Home & Personal Care &
Foods - supported by certain central functions and resources to leverage
economies of scale wherever relevant.

Board
At the apex is the Board, headed by the Chairman, and comprising 5 whole
time Directors and 5 independent non-executive Directors. The day to day
operations are supervised by the National Management comprising the Vice
Chairman, Managing Director (HPC), Managing Director (Foods) and the
Finance Director.

Divisions
Each division is self-sufficient with dedicated resources and assets in sales,
marketing, commercial, and manufacturing. The two divisions are further
reorganised into categories.

Typically, each category and each function - Sales, Commercial,

Manufacturing - is headed by a Vice President. They with their respective
Managing Director, comprise that Division's Management Committee.

For managing sales operations, HLL divides the country into four regions,
with regional branches in Delhi, Kolkata, Chennai and Mumbai. Headed by a
Regional Manager, they comprise Regional Sales Managers and Area Sales
Managers, assisted by dedicated field forces, comprising Sales Officers and
Territory Sales Incharges.

In Marketing, each category has a Marketing Manager who heads a team of

Brand Managers dedicated to each or a group of brands.

The commercial team of a Division is responsible for its supply chain

management. There are teams dedicated to sourcing, planning and logistics.

Each Division has a nationwide manufacturing base, with each factory

peopled by teams of Production, Engineering, Quality Assurance, Commercial
and Personnel Managers.

Central functions

HLL's Central Functions are Finance, Human Resources, Technology,

Research, Information Technology, Legal & Secretarial, and Corporate
Affairs. Their services are shared across the company. But, wherever
necessary, managerial resources are dedicated exclusively to a business. For
example, each Division now has dedicated HR MANAGERS.

HLL believes that while it leverages the scale of a large corporate, it must
also retain the soul of a small company. Its organisation structure, which has
and will continue to evolve with time, is aimed at achieving this knitting.

Businesses
Home & Personal Care
• Personal Wash
• Fabric Wash
• Home Care
• Oral Care
• Skin Care
• Hair Care
• Deodorants & Talcs
• Colour Cosmetics
Foods
• Tea
• Coffee
• Branded Staples
• Culinary Products
• Ice Creams
• Modern Foods ranges

New Ventures
• Hindustan Lever Network
• Ayush ayurvedic products & services
• Sangam
• Pureit water purifiers

Exports
• HPC
• Beverages
• Marine Products
• Rice
• Castor
 CHAIRMAN

Mr.Harish Manwani Arun Adhikari

Non-Executive Chairman Managing Director

S. Ravindranath

Mr. M. K. Sharma Managing Director

Vice-Chairman
 CODE OF BUISNESS PRINCIPAL

Standard of Conduct
We conduct our operations with honesty, integrity and openness, and with
respect for the human rights and interests of our employees.

We shall similarly respect the legitimate interests of those with whom we

have relationships.

Obeying the Law

Unilever companies and employees are required to comply with the laws and
regulations of the countries in which we operate.

Employees
Unilever is committed to diversity in a working environment where there is
mutual trust and respect and where everyone feels responsible for the
performance and reputation of our company.

We will recruit, employ and promote employees on the sole basis of the
qualifications and abilities needed for the work to be performed.

We are committed to safe and healthy working conditions for all employees.
We will not use any form of forced, compulsory or child labour.

We are committed to working with employees to develop and enhance each

individual's skills and capabilities.

We respect the dignity of the individual and the right of employees to

freedom of association.

We will maintain good communications with employees through company

based information and consultation procedures.

Consumers
Unilever is committed to providing branded products and services

which consistently offer value in terms of price and quality, and which are
safe for their intended use. Products and services will be accurately and
properly labelled, advertised and communicated.

Shareholders
Unilever will conduct its operations in accordance with internationally
accepted principles of good corporate governance. We will provide timely,
regular and reliable information on our activities, structure, financial
situation and performance to all shareholders.

Business Partners
Unilever is committed to establishing mutually beneficial relations with our
suppliers, customers and business partners.

In our business dealings we expect our partners to adhere to business

principles consistent with our own.

Community Involvement
Unilever strives to be a trusted corporate citizen and, as an integral part of
society, to fulfill our responsibilities to the societies and communities in
which we operate.

Public Activities
Unilever companies are encouraged to promote and defend their legitimate
business interests.

Unilever will co-operate with governments and other organisations, both

directly and through bodies such as trade associations, in the development
of proposed legislation and other regulations which may affect legitimate
business interests.

Unilever neither supports political parties nor contributes to the funds of

groups whose activities are calculated to promote party interests.

The Environment
Unilever is committed to making continuous improvements in the
management of our environmental impact and to the longer-term goal of
developing a sustainable business.

Unilever will work in partnership with others to promote environmental care,

increase understanding of environmental issues and disseminate good
practice.

Innovation
In our scientific innovation to meet consumer needs we will respect the
concerns of our consumers and of society. We will work on the basis of sound
science, applying rigorous standards of product safety.

Competition
Unilever believes in vigorous yet fair competition and supports the
development of appropriate competition laws. Unilever companies and
employees will conduct their operations in accordance with the principles of
fair competition and all applicable regulations.

Business Integrity
Unilever does not give or receive, whether directly or indirectly, bribes or
other improper advantages for business or financial gain. No employee may
offer, give or receive any gift or payment which is, or may be construed as
being, a bribe. Any demand for, or offer of, a bribe must be rejected
immediately and reported to management.

Unilever accounting records and supporting documents must accurately

describe and reflect the nature of the underlying transactions. No
undisclosed or unrecorded account, fund or asset will be established or
maintained.

Conflicts of Interests
All Unilever employees are expected to avoid personal activities and financial
interests which could conflict with their responsibilities to the company.

Unilever employees must not seek gain for themselves or others through
misuse of their positions.

Compliance – Monitoring – Reporting

Compliance with these principles is an essential element in our business
success. The Unilever Board is responsible for ensuring these principles are
communicated to, and understood and observed by, all employees.

Day-to-day responsibility is delegated to the senior management of the

regions and operating companies. They are responsible for implementing
these principles, if necessary through more detailed guidance tailored to
local needs.

Assurance of compliance is given and monitored each year. Compliance with

the Code is subject to review by the Board supported by the Audit
Committee of the Board and the Corporate Risk Committee.

Any breaches of the Code must be reported in accordance with the

procedures specified by the Joint Secretaries. The Board of Unilever will not
criticise management for any loss of business resulting from adherence to
these principles and other mandatory policies and instructions.

The Board of Unilever expects employees to bring to their attention, or to

that of senior management, any breach or suspected breach of these
principles.

Provision has been made for employees to be able to report in confidence

and no employee will suffer as a consequence of doing so.

In this Code the expressions 'Unilever' and 'Unilever companies' are used for
convenience and mean the Unilever Group of companies comprising Unilever
N.V., Unilever PLC and their respective subsidiary companies. The Board of
Unilever means the Directors of Unilever N.V. and Unilever PLC.
 ENVIRONMENT POLICY

The Environment Policy

Hindustan Lever Ltd. (HLL) is committed to meeting the needs of customers
and consumers in an environmentally sound manner, through continuous
improvement in environmental performance in all our activities. Management
at all levels, jointly with employees, is responsible and will be held
accountable for company's environmental performance.

Accordingly, HLL's aims are to:

Ensure safety of its products and operations for the environment by using
standards of environmental safety, which are scientifically sustainable and
commonly acceptable.

Develop, introduce and maintain environmental management systems

across the company to meet the company standards as well as statutory
requirements for environment. Verify compliance with these standards
through regular auditing.

Assess environmental impact of all its activities and set annual

improvement objectives and targets and review these to ensure that these
are being met at the individual unit and corporate levels.

Reduce Waste, conserve Energy and explore opportunities for reuse and
recycle.

Involve all employees in the implementation of this Policy and provide

appropriate training. Provide for dissemination of information to employees
on environmental objectives and performance through suitable
communication networks.

Encourage suppliers and co-packers to develop and employ

environmentally superior processes and ingredients and co-operate with
other members of the supply chain to improve overall environmental
performance.
 Work in partnership with external bodies and Government agencies to
promote environmental care, increase understanding of environmental
issues and disseminate good practice.

Responsibilities

Corporate
The Board and the Management Committee of HLL is committed to conduct
the company operations in an environmentally sound manner. The
Management Committee will:

Set mandatory standards and establish environmental improvement

objectives and targets for HLL as a whole and for individual units, and
ensure these are included in the annual operating plans.

Formally review environment performance of the company once every

quarter.

Review environment performance when visiting units and recognise

exemplary performance.

Nominate:
- A senior line manager responsible for environmental performance at the
individual HLL site.
- HLL environmental coordinator.

The Management Committee, through the nominated environmental

coordinator will:

Ensure implementation of HLL Policy on environment and compliance with

Unilever and HLL environmental standards and the standards stipulated
under relevant national / local legislation. When believed to be appropriate,
apply more stringent criteria than those required by law.

Assess environmental impact of HLL operations and establish strategies

for sound environment management and key implementation steps.

Encourage development of inherently safer and cleaner manufacturing

processes to further raise the standards of environment performance.
 Establish appropriate management systems for environment
management and ensure regular auditing to verify compliance.

Establish systems for appropriate training in implementation of

Environment Management Systems at work.

Ensure that all employees are made aware of individual and collective
responsibilities towards environment.

Arrange for expert advice on all aspects of environment management.

Participate, wherever possible, with appropriate industry and Government

bodies advising on environmental legislation and interact with national and
local authorities concerned with protection of environment.

Individual Units
The overall responsibility for environment management at each unit will rest
with the Unit Head, who will ensure implementation of HLL Policy on
environment at unit level. Concerned line managers / heads of departments
are responsible for environmental performance at department levels.

In order to fulfill the requirements of the Environment Policy at each site, the
Unit Head will:

Designate a unit environment coordinator who will be responsible for co-

ordinating environmental activities at unit, collating environmental statistics
and providing / arranging for expert advice.

Agree with the Management Committee Member responsible for the unit,
specific environmental improvement objectives and targets for the unit and
ensure that these are incorporated in the annual objectives of the concerned
managers and officers and are reviewed periodically.

Ensure that the unit complies with Unilever and HLL mandatory standards
and the relevant national and state regulations with respect to environment.

Ensure formal environmental risk assessment to identify associated

environmental aspects and take appropriate steps to control risks at
acceptable levels.
 Ensure that all new operations are subjected to a systematic and formal
analysis to assess environmental impact. Findings of such exercises should
be implemented prior to commencement of the activity.

Manage change in People, Technology and Facilities through a planned

approach based on training, risk assessment, pre-commissioning audits and
adherence to design codes.

Regularly review environment performance of the unit against set

objectives and targets and strive for continual improvement.

Sustain a high degree of environmental awareness through regular

promotional campaigns and employee participation through training, safety
committees, emergency drills etc.

Ensure dissemination of relevant information on environment within the

unit and to outside bodies, and regularly interact with Government
authorities concerned for protection of environment.

Maintain appropriate emergency procedures consistent with available

technologies to prevent / control environmental incidents.

Provide appropriate training to all employees.

Ensure periodic audits to verify compliance with environment

management systems and personally carry out sample environment audits
to check efficacy of the systems.

Report environmental statistics to HLL Corporate Safety & Environment

Group on a monthly basis.

Research and Innovation Centres

Since most new products and processes are developed in these Units, certain
additional responsibilities devolve on them to ensure implementation of the
Environment Policy of the company. In addition to the Unit Head's
responsibilities outlined above, the heads of these units will:

Ensure that a formal and systematic risk assessment exercise is

undertaken during the process/product development stage with specific
reference to environmental impact.

Transfer technology to the pilot plant and main production through a

properly documented process specification which will clearly define
environmental impact and risks associated with processes, products, raw
material and finished product handling, transport and storage.

Ensure that treatment techniques are developed for any wastes

generated as a result of the new product/process and is incorporated into
the process specifications.
Hindustan Lever Limited considers quality as one of the principal strategic
objectives to guarantee its growth and leadership in the markets in which it
operates.

The company is committed to respond creatively and competitively to the

changing needs and aspirations of our consumers through relentless pursuit
of technological excellence, innovation and quality management across our
businesses, and offer superior quality products and services that are
appropriate to the various price points in the market as well as to our
commitment to building shareholder value.

The company recognises that its employees are the primary source of
success in its operations and is committed to training and providing them the
necessary tools and techniques as well as empowering them to ensure broad
base compliance of this policy in the organisation at all levels.

The company is committed to fulfill its legal and statutory obligations and
international standards of product safety and hygiene and will not knowingly
sell product that is harmful to consumers or their belongings. It will institute
systems and measures to monitor compliance in order to meet its
responsibilities to consumers.
The company will maintain an open communication channel with its
consumers and customers and will carefully monitor the feedback to
continuously improve its products and services and set quality standards to
fulfill them.

The company is committed to extend its quality standards to its contract

manufacturers, key suppliers and service providers and by entering into
alliances with them, to jointly improve the quality of its products and
services. This policy is applicable to production from its own facilities as well
as to production that is outsourced.

The company will periodically review this quality policy for its effectiveness
and consistency with business objectives.

The company delegates authority and responsibility for dissemination and

implementation of this policy to each Business and Unit Head.

SAFETY AND HEALTH POLICY

Safety Principles

HLL's Occupational Safety and Health Policy is based on and

supported by the following eight Principles.

These Principles have the same status as the Company's Code of

Business Principles:

All injuries and occupational illnesses are preventable

 All operational exposures can be safeguarded
Safety evaluation of all business processes is vital
Working safely is a condition of employment
Training all employees to work safely is essential
Management audits are a must
Employee involvement is essential
All deficiencies must be reported and corrected promptly

This is a compendium of Hindustan Lever's Financial Trends and provides key

data on the company's performance between 1993 and 2003.
10 YEAR FINANCLES TREND

Rs. Lakhs 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003
Profit &
Loss
Account
Sales* 3240,39 3774,88 7120,06 8342,75 10215,24 10917,69 11392,14 11781,30 10951,61 11096,02
Other
56,21 66,70 118,08 183,87 244,74 318,98 345,07 381,79 384,54 459,83
Income
Interest (29,54) (20,15) (57,00) (33,89) (33,89) (33,89) (9,18) (7,74) (9,18) (66,76)
PBT @ 302,71 372,22 605,25 850,25 1130,44 1387,94 1665,09 1943,37 2197,12 2244,95
PAT @ 189,96 239,22 412,70 580,25 837,44 1069,94 1310,09 1310,0915 1731,32 1804,34
EPS of Re.1
(adjusted 1.30 1.64 2.08 2.81 3.67 4.86 5.95 7.46 8.04 8.05
for bonus)
DPS of Re.1
(adjusted 0.80 1.00 1.25 1.70 2.20 2.90 3.50 5.00 5.50 5.50
for bonus)
Balance
Sheet
Fixed
328,90 395,56 721,71 794,09 1053,77 1087,17 1203,47 1320,06 1322,34 1369,47
Assets
Investment
191,45 122,83 328,77 531,57 697,51 1006,11 1769,74 1635,93 2364,74 2574,93
s
Net
Deferred — — — — — — — 246,48 269,92 267,44
Tax
Net Current
342,02 457,67 378,67 122,42 226,06 187,25 (373,38) (75,04) (239,83) (368,81)
Assets
862,37 976,06 1429,15 1448,08 1977,34 2280,53 2599,83 342280,53 3717,17 3843,03
Share
146,99 145,84 19,57 19,57 219,57 220,06 220,06 220,12 220,12 220,12
Capital
Reserves &
391,27 492,44 792,36 1062,33 1493,46 1883,20 2268,16 2823,57 3438,75 1918,60
Surplus
Share
Premium
177,57 177,57 177,57 — — — — — — —
Suspense
Accounts
Loan Funds 146,54 160,21 260,05 186,58 264,31 177,27 111,61 83,74 58,30 1704,31
862,37 976,06 1429,15 1448,08 1977,34 2280,53 2599,83 342280,53 3717,17 3843,03

@ Before Exceptional Items

* Sales before Excise Duty Charged

HLL Share Price

 Market Capitalisation

Exports

Contribution to Exchequer

1994 1995 1996 1997 1998 1999 2000 2001 2002 2003
HLL Share
Price on BSE
59.0 138.3 166.3 225.0 206.3 223.6 181.7 204.7
(Rs. per 62.40 80.70
0 5 5 0 5 5 5 0
Share of Re.
1)*
Market
Capitalisatio 8,60 9,10 16,07 27,55 36,52 49,51 45,40 49,23 40,00 45,05
n (Rs. 4 0 3 5 5 3 9 1 8 9
Crores)
Exports (Rs.
456 582 921 1,152 1,664 1,803 1,934 1,845 1,411 1,437
Crores)**
Contribution
to Exchequer 843 915 1,398 1,640 2,062 2,341 2,524 2,478 2,609 2,999
(Rs. Crores)
EVA 107 126 272 365 548 694 858 1,080 1,236 1,429
 • Based on year-end closing prices quoted in the Bombay Stock
Exchange, adjusted for bonus shares
** Includes exports made by subsidiaries

LISTING
The Company's shares are listed and traded at the Stock Exchanges in
Ahmedabad, Bangalore, Chennai, Cochin, Delhi, Kolkata, Guwahati and
Mumbai, as well as the National Stock Exchange.

Stock Codes

Name of the Stock Exchange Stock Code

The Stock Exchange, Mumbai 500696
National Stock Exchange HINDLEVER
Madras Stock Exchange HLV
Cochin Stock Exchange HLV
Guwahati Stock Exchange 794
Bangalore Stock Exchange HINDLEVER
Ahmedabad Stock Exchange HINDLEVER
Delhi Stock Exchange 100018
Calcutta Stock Exchange 100052

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