Gillette

Historicals (amt in lakhs)

Sales Less: Excise duty Net sales Total sales growth Cost of goods sold Gross Profit Margin Growth Other income Selling, administration & other services EBITDA Margin Growth Depreciation EBIT Margin Growth Interest expenses Interest received EBT Margin Growth Tax Provision for tax Provision for deferred tax liabilities / (assets) Wealth tax Fringe benefit tax Net income Margin Growth Outstanding shares Growth Normalised EPS Growth

2001 49,504.93 4,244.96 45,259.97 25,363.33 19,896.64 44.0% 597.75 16,430.00 4,064.39 9.0% 3,001.09 1,063.30 2.3% 1,377.30 384.67 70.67 0.2% (1,415.31) 35.10 (1,450.41) 1,485.98 3.3% 325.85 INR 4.56

Non recurring expenses Income Job charges 4.05 Service income 44.11 Liabilities and provisions no longer required written back 200.59 Consulting fees 432.00 Profit on sale of fixed assets Sale of Geep distribution network Expenses Miscellaneous exp written off 28.43 Voluntory retirement scheme 1,196.34 Loss on writing down of fixed assets & capital WIP 3,179.84 Loss on sale of fixed assets 99.95

2002 42,060.68 3,757.09 38,303.59 -15.4% 19,981.08 18,322.51 47.8% -7.9% 520.68 14,325.94 4,517.25 11.8% 11.1% 2,054.79 2,462.46 6.4% 131.6% 549.57 32.39 1,945.28 5.1% 2652.6% 1,099.32 337.47 761.85

2003 40,697.04 4,389.74 36,307.30 -5.2% 13,761.18 22,546.12 62.1% 23.1% 619.88 13,953.06 9,212.94 25.4% 104.0% 1,819.43 7,393.51 20.4% 200.2% 0.90 520.14 7,912.75 21.8% 306.8% 2,988.03 1,838.08 1,149.95

2004 44,656.98 4,025.59 40,631.39 11.9% 14,492.69 26,138.70 64.3% 15.9% 688.51 16,273.09 10,554.12 26.0% 14.6% 1,605.47 8,948.65 22.0% 21.0% 821.01 9,769.66 24.0% 23.5% 3,665.70 3,722.24 (56.54)

845.96 2.2% -43.1% 325.85 0.0% INR 2.60 56.9%

4,924.72 13.6% 482.1% 325.85 0.0% INR 15.11 582.1%

6,103.96 15.0% 23.9% 325.85 0.0% INR 18.73 123.9%

22.05 123.75 206.18 400.00

201.96 106.13 -

378.51 -

28.43 921.59 -

28.43 563.25 157.70 -

28.42 149.80 177.04

Investment written off Advances written off

589.30

2.21

1.23 0.54

4.86

Total assets Deferred tax assets Miscellaneous expenditure Cash Investment - cash equivalents Operating assets Return on operating assets

54,349.68 447.31 85.28 2,582.98 1.23 51,232.88 2.1%

35,816.23 56.85 3,500.35 1.23 32,257.80 7.6%

40,063.37 28.42 10,742.46 29,292.49 25.2%

42,934.03 19,391.75 23,542.28 38.0%

Fixed assets Current assets excluding cash Current liabilities excluding debt Capital invested Return on capital invested

23,809.86 27,423.02 14,386.07 36,846.81 2.9%

20,971.29 11,286.51 7,944.57 24,313.23 10.1%

16,259.50 13,032.99 9,924.84 19,367.65 38.2%

13,369.88 10,172.40 9,861.40 13,680.88 65.4%

2,584.21 12,356.19 27,607.42 INR 84.72

3,501.58 125.30 27,431.82 INR 84.18

10,742.46 28,674.04 INR 88.00

19,391.75 31,664.68 INR 97.17

23,809.86 1,942.12 386.00 534.45 6,279.67 12,103.47 1,849.44 363.61 351.10

20,971.29 392.18 746.15 6,179.59 11,572.41 1,714.11 337.55 29.30

16,259.50 392.18 736.58 6,009.88 7,506.77 1,341.07 269.16 3.86

13,369.88 91.42 727.01 4,833.58 6,323.95 1,018.77 348.48 26.67

1.23

1.23

-

-

0.24 0.53 0.46

0.24 0.53 0.46

-

-

7,920.43 1,089.35

5,220.95 590.61

5,249.90 1,684.91

4,746.78 1,773.19

261.61 339.31

200.55 300.72

159.16 139.51

186.86 116.36

2,694.87 2,965.42 569.87

1,412.87 2,304.02 412.18

2,598.17 538.66 129.49

2,085.09 475.55 109.73

650.83 934.01

124.90 592.37

672.94 428.38

563.28 570.35

Cash and cash equivalents Debt Shareholders equity Tangible book value (TBV) Fixed assets (net block) Trademarkts, copyrights and designs Land - Freehold Land - Leasehold Buildings Plant and machinery Furniture, fittings & office equipments Motor vehicles Capital work in progress Investments Unquoted - others Government securities Investment in bonds National Savings Certificates Inventories Raw materials Packaging materials Stores and spare parts Work in progress Finished goods - Manufactured - Trading items Goods in transit Sundry debtors Outstanding for a period exceeding 6 months Considered good Considered doubtful

1,584.84

717.27

1,101.32

1,133.63

6,222.97 6,222.97 934.01 6,873.80

2,491.61 44.89 2,536.50 637.26 2,616.51

2,060.85 34.53 2,095.38 462.91 2,733.79

2,526.35 9.54 2,535.89 579.89 3,089.63

2,582.98

3,500.35

10,742.46

19,391.75

Loans and advances 12,628.79 3,449.05 Loans Inter corporate deposit - unsecured 750.00 Loan to fellow subsidiary Loans to employees - secured 664.90 702.24 Advances - unsecured Advances recoverable in cash or in kind Considered good 10,064.51 708.19 Considered doubtful 169.95 95.59 Less : Provision for doubtful advances (169.95) (95.59) Deposits 682.28 283.15 Advance tax 292.41 208.84 Balance with excise and customs authorities on current 924.69account 796.63

4,885.46

2,183.65

Other debts Considered good Considered doubtful Less : Provision for doubtful debts Cash and bank

Other current assets Interest accrued on bank deposits Interest accrued on loan to fellow subsidiary Interest accrued on inter corporate deposits Current liabilities Sundry creditors - Due to small scale industrial undertakings - Due to others Unclaimed dividends Other liabilities Interest accrued but not due on loans Provisions Proposed dividend Provision for income tax Provision for Fringe benefit tax Provision for tax on proposed dividend Provision for staff benefits CASH FLOW Net profit before tax - as reported Adjustments Depreciation Baddebts written off Provision for doubtful debts and advances Provision for employee benefits Translation loss on advance against export

-

-

2,900.00

-

733.51

822.91

391.37 101.38 (101.38) 233.72 82.76 544.10

468.64 29.34 (29.34) 265.08 88.08 538.94

163.84 163.84 -

152.34 152.34 -

13,433.26

6,972.94

6,748.58

6,687.00

25.32 12,440.03 12.50 403.80 551.61

3.58 6,441.65 14.91 512.80 -

14.85 6,184.77 17.08 531.88 -

11.33 6,036.00 22.47 617.20 -

952.81 733.17

971.63 896.09

3,176.26 2,769.74

3,174.40 2,769.74

74.78 144.86

75.54

354.87 51.65

361.97 42.69

(4,194.19)

1,745.03

7,469.69

9,788.05

3,001.09 756.82 130.50

2,054.79 275.72 -

1,819.43 134.41 -

1,605.47 116.98 -

Translation loss on external commercial borrowings 65.18 Interest 1,377.30 Loss on sale of fixed assets 99.95 Advances written off 589.30 Investment written off Inventories written off 1,504.42 Loss on writing down of assets 3,179.84 Miscellaneous expenditure written off 28.43 Expenses / losses in relation to sale of Geep Business Interest capitalized (98.59) Profit on sale of fixed assets Sale of Geep distribution network Unrealized FOREX gain Interest received - others (384.67) Liabilities and provisions no longer required written back (200.59) (A) 5,854.79

549.57 2.21 1,149.11 28.43 75.66 (206.18) (400.00) (32.39) (123.75) 5,118.20

0.90 0.54 1.23 521.98 157.70 28.43 (106.13) (485.91) (201.96) 9,340.31

177.04 4.86 306.96 28.42 (797.32) (378.51) 10,851.95

3,513.32 1,505.78 341.39 2,060.74 7,421.23 13,276.02 (832.27) 12,443.75

3,997.83 1,392.70 1,550.37 (5,856.69) 1,084.21 6,202.41 (253.90) 5,948.51

(178.50) 512.17 (550.93) (48.46) (265.72) 9,074.59 (1,712.01) 7,362.58

(472.82) (197.73) 196.16 302.58 (171.81) 10,680.14 (3,727.56) 6,952.58

Purchase of fixed assets (4,029.14) Less : loss on restatement of DPC 61.59 Sale of fixed assets 41.91 Net capital expenditure (3,925.64) Sale of trademark, copyrights & designs Sale of Geep distribution network Expenses/losses in relation to sale of Geep business Inter corporate deposits placed Interest receipt 384.67 Cash from investing activities (3,540.97)

(1,006.05) 196.01 (810.04) 1,800.00 400.00 (75.66) 32.39 1,346.69

(222.44) 3,063.23 2,840.79 323.68 3,164.47

(384.52) 1,491.63 1,107.11 808.82 1,915.93

Capita grant Unsecured loan Less : loss on restatement of loans Secured loans - cash credit (net) Unsecured Loans - Short Term Loans Deferred Payment Credit Add : Loss on Restatement of Loans Long term Advance Against Export Less : Loss on Restatement of Export Advance Long term Advance Against Export Dividend Interest Paid Tax on Proposed Dividend

8,435.00 (5,835.77) (394.97) (197.00) (1,450.54) (4,351.50) (730.76) (1,102.29) -

(125.30) (893.92) (0.90) (114.82)

(2,764.35) (354.87)

Changes in working capital Debtors Loans and advances Inventories Current liabilities (B) Operating cash before tax paid Tax paid Business restructuring expenses Cash from operating activities

590.95 (65.18) (50.53) (5,359.26) (1,363.50) (61.59) 130.50 (130.50) (488.76) (2,019.24) (49.85)

Cash from Financing Activities Opening cash Changes in cash Closing cash SEGMENT INFORMATION BUSINESS SEGMENT REVENUE Grooming Growth %age on total sales Portable power Growth %age on total sales Oral care Growth %age on total sales Others Growth %age on total sales Total Total growth EBITDA Grooming Growth Margin Portable power Growth Margin Oral care Growth Margin Others Growth Margin Corporate overheads

(8,866.96) 2,547.16 35.82 2,582.98

(5,627.83) 2,582.98 1,667.37 4,250.35

(1,134.94) 4,250.35 9,392.11 13,642.46

(3,119.22) 13,642.46 5,749.29 19,391.75

23,597.04

23,508.40 -0.4% 61.4% 10,342.18 -41.8% 27.0% 3,133.80

28,126.29 19.6% 77.5% 3,455.83 -66.6% 9.5% 4,539.60 44.9% 12.5% 185.58 -85.9% 0.5% 36,307.30 -5.2% -

32,201.76 14.5% 79.3% 3,547.10 2.6% 8.7% 4,882.53 7.6% 12.0% -

10,715.60 69.7% 38.1% 136.68 -108.8% 4.0% 284.04 11.2% 6.3% (82.11) -224.5% -44.2% (2,265.44) 8,788.77 69.4% 24.2% -

11,335.81 5.8% 35.2% 699.88 412.1% 19.7% 1,384.61 387.5% 28.4% -100.0% #DIV/0! (2,832.20) 10,588.10 20.5% 26.1% -

9,324.42 90.3% 33.2% 136.68 -107.5% 4.0% 284.04 11.2% 6.3% (82.11)

10,132.05 8.7% 31.5% 699.88 412.1% 19.7% 1,384.61 387.5% 28.4% -

52.1% 17,778.45 39.3% 0.0% 3,884.48 8.6% 45,259.97 5,249.40 22.2% 161.60 0.9% (574.96)

Total

Growth Margin EBIT (before exceptional items) Grooming Growth Margin Portable power Growth Margin Oral care Growth Margin Others

-14.8% 1,027.74 5,863.78 13.0% 3,671.66 15.6% (946.52) -5.3%

(574.96)

8.2% 1,319.21 -66.0% 3.4% 38,303.59 -15.4% 6,315.67 20.3% 26.9% (1,546.79) -1057.2% -15.0% 255.39 8.1% 65.93 -111.5% 5.0% 99.00 5,189.20 -11.5% 13.5% 4,899.28 33.4% 20.8% (1,825.56) 92.9% -17.7% 255.39 8.1% 65.93

40,631.39 11.9% -

Growth Margin Corporate overheads

6.3%

-111.5% 5.0% (260.63) 3,134.41 9.5% 8.2%

-224.5% -44.2% (2,693.69) 6,969.34 122.3% 19.2%

(3,233.91) 8,982.63 28.9% 22.1%

Total

1,577.74 1,108.12 315.23 3,001.09

1,416.39 278.77 359.63 2,054.79

1,391.18 428.25 1,819.43

1,203.76 401.71 1,605.47

Total

2,141.95 740.47 4,622.60 7,505.02

914.01 413.84 1,327.85

87.03 160.85 247.88

86.38 275.33 361.71

Total

21,659.92 14,306.28 1,019.00 17,364.48 54,349.68

16,282.79 3,641.04 921.41 152.89 14,818.10 35,816.23

15,435.01 2,298.49 828.96 21,500.91 40,063.37

14,719.66 1,716.61 746.23 25,751.53 42,934.03

Total

5,555.26 9,697.20 3,563.60 7,926.20 26,742.26

2,715.85 1,759.57 1,723.23 618.95 1,566.81 8,384.41

3,759.59 1,227.94 1,505.40 4,896.40 11,389.33

4,163.00 982.68 1,175.86 4,947.81 11,269.35

38,120.64

36,700.23 -3.7% 95.8% 1,603.36 -77.5% 4.2% 38,303.59 -15.4%

34,946.02 -4.8% 96.3% 1,361.28 -15.1% 3.7% 36,307.30 -5.2%

38,254.24 9.5% 94.1% 2,377.15 74.6% 5.9% 40,631.39 11.9%

35,672.51

39,878.49

42,818.98

Total

Growth Margin Depreciation Grooming Portable power Oral care Others Corporate assets

Capex Grooming Portable power Oral care Others Corporate assets Assets Grooming Portable power Oral care Others Corporate assets Liabilities Grooming Portable power Oral care Others Corporate liabilities

GEOGRAPHICAL SEGMENT REVENUE Within India Growth %age on total sales Outside India Growth %age on total sales Total sales Total growth ASSETS Within India

-14.8% 712.51 2,862.69

84.2% 7,139.33 15.8% 45,259.97

36,973.30

Outside India CAPEX Within India Outside India

Total

Total

11.90 36,985.20

143.72 35,816.23

184.87 40,063.36

115.05 42,934.03

1,327.85 1,327.85

247.88 247.88

361.72 361.72

18 months 2005 48,900.36 3,597.50 45,302.86 11.5% 17,114.76 28,188.10 62.2% 7.8% 526.35 17,484.35 11,230.10 24.8% 6.4% 1,556.67 9,673.43 21.4% 8.1% 1,174.43 10,847.86 23.9% 11.0% 4,065.82 4,121.21 (238.83) 3.44 180.00 6,782.04 15.0% 11.1% 325.85 0.0% INR 20.81 111.1%

FY Jan 06 to June 07 72,479.46 4,175.19 68,304.27 0.5% 26,998.99 41,305.28 60.5% -2.3% 942.11 24,775.35 17,472.04 25.6% 3.7% 2,229.83 15,242.20 22.3% 5.0% 0.31 1,743.88 16,985.77 24.9% 4.4% 7,361.46 7,487.47 (448.57) 0.56 322.00 9,624.31 14.1% -5.4% 325.85 0.0% INR 29.54 -5.4%

88.88 2.90 -

659.90 4,245.81 -

2.82 -

48.83

-

-

2.56 47,572.12 22,965.88 24,606.24 39.3%

51,861.94 17,279.60 34,582.34 44.1%

13,638.17 10,968.07 11,581.97 13,024.27 74.3%

10,305.13 23,873.44 15,182.09 18,996.47 80.2%

22,965.88 34,821.03 INR 106.86

17,279.60 35,959.29 INR 110.35

13,638.17 91.42 710.92 4,716.33 6,717.19 734.79 296.42 371.10

10,305.13 7.27 858.94 2,436.99 6,669.86 213.20 59.94 58.92

-

-

-

-

4,987.19 2,117.32 243.87 100.16

8,267.50 1,188.48 149.56 222.67 214.49

1,897.21 580.50 48.13

6,492.31 -

480.47 549.06

68.43 761.83

1,029.53

830.25

2,954.93 5.84 2,960.77 554.90 3,435.40

6,326.67 6,326.67 761.83 6,395.10

22,965.88

17,279.60

2,353.84

9,131.73

250.00 750.73

4,800.00 1,580.00 -

818.49 265.32 269.30

2,003.14 710.16 38.44

191.64 191.64 -

79.10 39.88 10.82 28.41

6,705.88

10,425.70

3.66 5,952.40 25.55 724.27 -

14.94 8,320.40 37.64 2,052.73 -

4,876.09 3,258.52 1,049.37 70.00 457.01 41.19

4,756.39 2,443.89 1,244.83 415.34 652.33

10,934.26

21,597.29

1,556.67 28.36 -

2,229.83 55.72 206.93 652.33 -

2.56 187.97 (2.90) (1,156.65) (88.88) 11,461.39

0.31 18.38 218.29 (4,196.97) (32.21) (1,743.88) (659.90) 18,346.12

(374.14) (10.85) (428.38) 103.18 (710.19) 10,751.20 (3,093.75) 7,657.45

(5,479.81) (3,498.61) 4,389.69 (4,588.73) 13,757.39 (7,684.57) (6,522.74) (449.92)

(1,941.48) 119.42 (1,822.06) 1,117.37 (704.69)

(2,670.50) 7,566.88 4,896.39 (4,800.00) 1,856.36 1,952.75

(2,766.66) (361.97)

(6,517.04) (0.31) (914.02)

(3,128.63) 19,391.75 3,824.13 23,215.88

(7,431.37) 23,215.88 (5,928.54) 17,287.34

36,031.72 11.9% 79.5% 2,678.95 -24.5% 5.9% 6,592.18 35.0% 14.6% -

54,102.14 50.2% 79.2% 3,799.16 41.8% 5.6% 10,402.97 57.8% 15.2% -

45,302.85 11.5% (0.01)

68,304.27 50.8% -

11,230.93 -0.9% 31.2% 656.31 -6.2% 24.5% 1,942.81 40.3% 29.5% #DIV/0! #DIV/0! (2,501.55) 11,328.50 7.0% 25.0% -

19,854.57 76.8% 36.7% 958.05 46.0% 25.2% 1,860.05 -4.3% 17.9% #DIV/0! #DIV/0! (589.10) 22,083.56 94.9% 32.3% -

10,046.48 -0.8% 27.9% 656.31 -6.2% 24.5% 1,942.81 40.3% 29.5% -

18,035.37 79.5% 33.3% 958.05 46.0% 25.2% 1,860.05 -4.3% 17.9% -

(2,873.77) 9,771.83 8.8% 21.6%

(999.74) 19,853.73 103.2% 29.1%

1,184.45 372.22 1,556.67

1,819.19 410.64 2,229.83

1,475.99 121.06 1,597.05

2,635.84 34.66 2,670.50

16,000.55 1,184.32 930.23 29,457.00 47,572.10

15,367.50 1,030.50 1,242.57 34,221.38 51,861.94

4,367.94 858.83 1,216.77 6,307.56 12,751.10

1,575.71 29.91 239.59 14,057.44 15,902.65

43,747.01 14.4% 96.6% 1,555.85 -34.5% 3.4% 45,302.86 11.5%

65,789.16 50.4% 96.3% 2,515.10 61.7% 3.7% 68,304.27 50.8%

47,465.79

51,296.77

106.28 47,572.07

565.17 51,861.94

1,597.05 1,597.05

2,670.50 2,670.50