Colgate-Palmolive (India) Ltd. — AGM Information 2019

Aug 28, 2019

August 28, 2019

The Secretary BSE Limited P.J. Towers- 25th floor Dalal Street Scrip Code: 500830 Mumbai-400001

The Manager – Listing Department National Stock Exchange of India Limited Symbol: COLPAL Exchange Plaza, C-1, Block – G Series: EQ Bandra – Kurla Complex Bandra (East), Mumbai 400 051

Dear Sir(s),

Sub: Chairman's Speech of the 78th Annual General Meeting

Please find enclosed herewith the Chairman's Speech delivered at the 78th Annual General Meeting of the Company held today i.e. Wednesday, August 28, 2019.

Kindly take the above on record.

Thanking you, Yours Sincerely, For Colgate-Palmolive (India) Limited

K RANDHIR SINGH Digitally signed by K RANDHIR SINGH Date: 2019.08.28 19:08:33 +05'30'

K. Randhir Singh Company Secretary & Compliance Officer

Encl:a/a

Statement by the Chairman, Mr. Mukul Deoras, at the 78th Annual General Meeting of Colgate-Palmolive (India) Limited in Mumbai on Wednesday, August 28, 2019.

Ladies and Gentlemen,

I welcome you all to your Company's 78th Annual General Meeting and thank you all for your continued support.

Firstly, it gives me great honor and delight to mention that throughout your Company's over 80 years of commitment to India, Colgate remains that rare brand, which continues to be trusted by people across generations, every day.

A proof of such implicit trust for Colgate is in being voted once again in 2018 as the Most Trusted Oral Care Brand in the Economic Times Brand Equity Most Trusted Brand Survey. It's my pleasure to inform you that your Company has earned this honor continuously for the past 8 years.

Also, for the ninth year in a row, this year again, Colgate has been voted by consumers as the No. 1 Most Trusted Oral Hygiene Brand in TRA's Brand Trust Report.

We sincerely thank you for your trust. Your trust is precious and we will continue to build on it steadily, through the quality of our products and integrity of our actions, every day.

I would like to take this opportunity to thank your Company's former Managing Director, Issam Bachaalani who has recently moved out as Vice President & General Manager of Colgate-Palmolive Company's Eurasia Hub, after serving around 5 years as Managing Director of this Company. I would like to place on record our sincere thanks and appreciation to Issam for his valuable contributions during his tenure. Under Issam's leadership, your Company scaled new heights in terms of innovation, increased consumer engagement through brand–building and strengthening Colgate's commitment to communities, with unbridled enthusiasm and a clear vision to keep India smiling.

Now, Ladies and Gentlemen, please join me in welcoming Ram Raghavan as the current Managing Director of your Company, effective 1st of August, 2019.

Ram has come home to India. This is where he began his career, in 1997 as a Management Trainee with Colgate. In his over two decades of experience, he has grown through various roles of increasing responsibility across the Colgate world, with his most recent position being the Vice President Marketing in the Asia-Pacific Division, where he re-ignited our brands through stronger innovation and integrated brand campaign. In his current role, Ram will provide strategic leadership to your Company. Please join me in congratulating Ram and wishing him continued success.

I would now like to talk about the financial results and progress of your Company in F.Y. 2018-19:

We delivered a consistent revenue growth of 7% over the previous year with Net Sales at Rs.4,432 crore, for the year ended March 31, 2019. The EBITDA margins were higher by 100 bps and the reported Net Profit After Tax for the year was at Rs.776 crore, an increase of 15% over the past year. Excluding the impact of tax reversals and exceptional items, the Net Profit After Tax for F.Y. 2018-19, increased by 11%, over the last financial year.

In pursuance of our commitment to maximize shareholder value, total dividend declared by the Board for the Financial Year 2018-19 stands at Rs.23/- per share including a Special Dividend of Rs.8/- per share.

We continued to maintain our strong leadership positions in both, the toothpaste and toothbrush categories, with volume market shares for the year 2018 at 52.4% and 45.2% respectively.

Let me now update you about the Company's Financial Results for the First Quarter of F.Y. 2019-20 which were declared last month. In Q1 of this financial year, your Company reported a Net Sales of Rs. 1,076 crore. This is an increase of 4% over the same quarter of the previous year, led by a domestic net sales growth of 6%.The reported Net Profit After Tax for the quarter was at Rs.169 crore as against the Net Profit of Rs.190 crore for the same quarter of the previous year. Excluding the impact of exceptional item for the previous year, the Net Profit After Tax increased by 5% in the current year.

We work towards achieving a sustainable profitable growth, sharply focused on innovation, and backed by strong advertising investments behind our brands.

At Colgate, we are committed to bring you the most advanced oral care products.

I am pleased to share with you that Colgate's flagship brand and India's largest selling toothpaste-Colgate Strong Teeth, has been reinvigorated.

First, we brought out a 'complete packaging change' for Colgate Strong Teeth. This new and exciting packaging of India's favourite toothpaste was launched with an overarching message of, 'Andar Se Strong', meaning, moments of inner-strength and self-belief, reflected as 'Bahar Se Smiles.'

The launch campaign was brought alive through a series of TV commercials showcasing impactful stories of India's popular youth icons - Deepika Padukone and Mahendra Singh Dhoni.

After a successful packaging change, pursuing our values of 'Continuous Improvement', I'm happy to share with you our recent introduction of Colgate Strong Teeth now with a revolutionary new formula of Amino Shakti.

The new formulation provides unbeatable strength to teeth and is a true breakthrough technology from Colgate. It is the result of more than a decade of R&D, including dozens of laboratory and clinical studies. This unique patented technology of Amino Shakti formula contains Arginine and Fluoride, that harnesses the two-way power of these two ingredients to make your teeth strong from within.

Besides Colgate Strong Teeth, Colgate Total got a brand refresh with an advanced formula of Dual Zinc and Arginine, to provide an 'Upgrade to Whole Mouth Health'. Focusing on the children's portfolio opportunity, we launched the new Colgate Kids Toothpaste integrated marketing communication of, 'Make brushing fun', leveraging the much-loved, popular characters of Batman, Barbie and Motu-Patlu.

Continuing our momentum in our 'Naturals' segment, an all-round marketing campaign for Swarna Vedshakti, leveraged the leading celebrities, Kajol and Jyothika.

Additionally, through strong, region-specific communication, Vedshakti asserted its presence throughout the year at major Indian festivals, including, at Kumbh in Prayag, where among many initiatives, sampling of Vedshakti sachet-packs was executed at an unprecedented scale.

In our long line of innovations, am happy to share, that we have recently introduced our technology led innovation of a battery operated toothbrush, the Colgate ProClinical 150 Toothbrush. Also, I must mention about the recent launch of our Colgate Zig Zag Neem Toothbrush, which has bristles infused with Neem.

Additionally, we have expanded our Palmolive equity to a new category of Palmolive Facial Bars, available in 3 exciting variants of Vitamin C&E, Turmeric & Tamarind and Charcoal.

In line with Colgate's belief of 'Everyone Deserves a Future They Can Smile About', we recently introduced Colgate's equity campaign – 'Smile Karo Aur Shuru Ho Jao' or Get Started with a Smile. This brand expression underscores Colgate's message of hope and optimism through the positive power of a smile.

Colgate's expression of Smile Karo Aur Shuru Ho Jao, has the power and opportunity to inspire hope and courage in millions of hearts towards creating a better future and a better world.

And we think, the true essence of 'Smile Karo Aur Shuru Ho Jao' is brought alive by telling the positive stories of people who choose to conquer their circumstances with their optimism and selfbelief, and build a better tomorrow.

I would now like to share a few significant milestones about Colgate's deep and continuous commitment to social action and sustainability.

It gives me great pleasure to share with you that your Company is the first in India to be recognized by the Green Business Certification Inc. (GBCI) with TRUE Zero Waste Platinum Certification for all four of Colgate's manufacturing sites. Caring for our environment is at the core of our sustainability values and, the principles of 'Reduce -Reuse- Recycle' are a way of life for us at Colgate.

For over eight decades, Colgate's Keep India Smiling Mission has been a statement of your Company's continued commitment to India, to build strong foundations and persevere to create a significant positive impact in the lives of people through several community betterment programs.

In addition to your Company's long running flagship programs of Bright Smiles, Bright Futures™ and Colgate's annual Oral Health Month, that drive Oral Care and Oral Health awareness, other foundational community initiatives that work to provide water accessibility, education, skill building and empowerment to women, this year, we have launched another significant program - the Colgate Keep India Smiling Foundational Scholarship.

This Scholarship program aims to offer financial support and mentorship, to the most deserving people across the country in the fields of education, sports and community betterment, to help translate their dreams to reality. The candidates will be picked by an eminent 4-member panel, comprising-the six-time World Boxing Champion and World No.1- Mary Kom, and other distinguished social-development professionals.

Launched in partnership with ShikshaDaan Foundation, a non-profit organization that works in the field of educating the underprivileged, and their technology partners, Buddy4Study, this national Scholarship program is Colgate's way to champion and honor the courageous human spirit and the undying will to build a better future.

We will continue to grow and develop our community programs with the objective of making a meaningful difference to people's lives.

We remain focused on maximizing profitable growth. Guided by our ethics and core values of Caring, Teamwork, and Continuous Improvement, we continue to draw upon our core strategies of investing in our brands and delivering innovative products. With our pragmatic and committed teams, we are confident that we will continue to create value for our shareholders over the long-term.

I would like to conclude by thanking my esteemed colleagues on the Board for their invaluable guidance and support. I wish to thank all Colgate people for their unstinted efforts towards attaining our goals. I would also like to express my sincere appreciation for the trust and support that we receive from our distributors, customers and suppliers who work with us to drive success for your Company. And, on behalf of the Board and the employees of your Company, I would like to thank you, our valued shareholders, for your continued trust, support and encouragement.

Thank you, Ladies & Gentlemen.

Chairman Mukul Deoras (DIN: 02869422)

Mumbai, August 28, 2019

Colgate-Palmolive (India) Limited Registered Office:

Colgate Research Centre, Main Street, Hiranandani Gardens, Powai, Mumbai – 400 076 CIN: L24200MH1937PLC002700

Note: This does not purport to be a record of the proceedings of the 78th Annual General Meeting of the Company.