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UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2006
(Rs. in Million)
  QUARTER ENDED 30.06.2006 (Reviewed) QUARTER ENDED 30.06.2005
  (Reviewed) 		YEAR
ENDED
31.03.2006
(Audited) 
Sales in numbers 647,094 505,524 2,281,230

Gross Sales & Income  from Operations
25053.6

18592.5

87483.8

Less: Excise duty
3027.0
2251.0
10804.8

Net Sales & Income from Operations
22026.6
16341.5
76679.0
Other Income
945.6
927.8
4384.5

TOTAL INCOME
22972.2
17269.3
81063.5

TOTAL EXPENDITURE :

a) (Increase)/decrease in stock-in-trade
224.0
(167.2)
(490.1)

b) Materials
15319.9
11591.4
53736.1

c) Staff Cost
855.8
731.8
2741.3

d) Other expenditure

2085.7
1660.6
7377.1

e ) Expenses capitalised
(65.7)
(50.4)
(248.1)

Interest
7.3
0.9
3.4

GROSS PROFIT AFTER INTEREST BUT BEFORE DEPRECIATION  AND TAXATION
4545.2
3502.2
17943.8
Export incentives accrued in previous year written off ( See Note 1 )
  103.9 - -

Compensation paid under Voluntary Retirement Schemes
-
-
226.4

Depreciation
481.2
462.2
1910.0

PROFIT BEFORE TAX
3960.1
3040.0
15807.4

Provision for Taxation (Including Deferred Taxes & Fringe Benefit Tax)
1300.0
950.0
4791.1

NET PROFIT
2660.1
2090.0
11016.3
Prior period adjustments      
      Tax credits pertaining to earlier years - - 225.1

      Others (net)
-
(10.5)
(8.7)

PROFIT AFTER PRIOR PERIOD ADJUSTMENTS
2660.1
2079.5
11232.7

Paid up Equity Share Capital (Face value of Rs 10/-)
1011.8
1011.8
1011.8

Reserves excluding Revaluation Reserves
46695.5

Basic and Diluted Earnings per Share of Rs.10/- each  (not annualised) (Rs).
26.3
20.6
111.0
Aggregate  of Non-Promoter Shareholding:

      No. of Shares

71,039,218
71,038,993
71,039,218

      Percentage of Shareholding
70.21%
70.21%
70.21%
 
 

CONSOLIDATED FINANCIAL AND SEGMENT-WISE RESULTS OF BAJAJ AUTO LIMITED AND ITS SUBSIDIARIES, JOINT VENTURES AND ASSOCIATES

UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2006
 
(Rs. in Million)
 

QUARTER ENDED   30.06.2006

QUARTER ENDED   30.06.2005

YEAR ENDED 31.03.2006
(Audited)

Net Sales / Income from operations 22942.8 17558.3 81037.4
Total Expenditure:      

a) Materials 

 15553.8 11431.9 53281.5

b) Staff Cost

 861.8 737.7 2763.6

c) Other expenditure

 2078.6  1655.2 7391.4

d) Expenses capitalised

(65.7)  (50.4) (248.1)

Interest

 7.3  0.9 3.4

Gross Profit after Interest but before Depreciation & Taxation

 4507.0 3783.0 17845.6
Export incentives accrued in previous year written off (See Note1)
 103.9 - -

Compensation paid under Voluntary Retirement Schemes

 - 0.4 227.8

Depreciation

 481.9 462.8 1912.8
Profit Before Tax and share of profit on Investments in Associates   3921.2 3319.8 15705.0
Add: Share of Profit after tax on Investments in Associates 14.3  53.1 93.1

Profit Before Tax

 3935.5 3372.9 15798.1
Provision for Taxation (Including Deferred Taxes & Fringe Benefit Tax)
 1419.3 1024.2 5093.7

Net Profit

 2516.2 2348.7 10704.4

Prior period adjustments

     

     Tax credits pertaining to earlier years

 - - 228.2

    Others (net)

  - (10.5)
 (8.7)

Profit After Prior Period Adjustments

  2516.2 2338.2 10923.9

Less: Minority Interest in Net Income of subsidiaries

  (41.5)
 36.7 (122.1)

Income attributable to consolidated group

  2557.7 2301.5 11046.0
 
SEGMENT-WISE REVENUE, RESULTS AND CAPITAL EMPLOYED
(Rs. in Million)
 

QUARTER ENDED   30.06.2006

QUARTER ENDED   30.06.2005

YEAR ENDED   31.03.2006
(Audited)

Segment Revenue

    

Automotive

 22039.7 16352.9 76728.2

Insurance

  9662.4 3930.2 38440.4

Investment & Others

 952.4 997.1 4470.7

Total

 32654.5 21280.2 119639.3

Less:Inter segment Revenue

 61.6  57.4 254.5

Net Sales/Income from operations

32592.9 21222.8 119384.8

Segment Profit/(Loss) before Tax & Interest

    

Automotive

 3109.2 2199.2 11826.9

Insurance

 (40.8) 215.3 (167.4)

Investment & Others

 874.4  959.3 4142.0

Total

 3942.8 3373.8 15801.5

Less: Interest

 7.3 0.9 3.4

Total Profit Before Tax

3935.5 3372.9 15798.1

Capital Employed

    

Automotive

 7410.8 7913.0 6839.9

Insurance

 5383.3 3269.8 5640.1

Investment & Others

 63399.4 51715.8 60325.7

Unallocable

 (4408.5) (2281.6) (3828.9)

Total

 71785.0 60617.0 68976.8

NOTE:

The consolidated financial results include results of the following companies

Name of the company

% Shareholding and voting power of Bajaj Auto Limited and Subsidiaries 

Segment

 Consolidated as

a) Bajaj Auto Holdings Limited

100%

Investment

 Subsidiary
b) Bajaj Allianz General Insurance Company Limited

74%

Insurance - general

 Subsidiary             
c) Bajaj Allianz Life Insurance Company Limited

74%

Insurance - life

 Subsidiary             

d) Maharashtra Scooters Limited

24%

Automotive & Investments Joint Venture
e) Bajaj Auto Finance Limited

41.51%

 Hire Purchase Financing Associate
NOTES:
 
  1. During this quarter, the company has written off export incentives of Rs. 103.9 million that had accrued and was accounted during the last year, due to reduction of incentive under Target Plus Scheme announced by Government of India in the current quarter with retrospective effect.

  2. Gross Written Premium (GWP) for the quarter ended June 30, 2006 of general and life insurance business is Rs. 4501.4 million and Rs. 7321.9 million respectively. The corresponding figure for the quarter ended June 30, 2005 was Rs. 3168.8 million and Rs. 2396.7 million respectively.

  3. For the purpose of consolidated financials the net result of the insurance business revenue accounts together with shareholders income and transfers (See Note 4) in accordance with the reporting framework of IRDA amounting to a net loss of Rs. 38.1 million prior to elimination of inter segment revenue of Rs. 11.2 million for the quarter ended June 30, 2006 has been included in a manner consistent with the parent's reporting format as was done for the previous periods. However, for reporting segment information, segment revenues for both insurance businesses represent the premiums earned and other income.

  4. The consolidated accounts for the quarter ended June 30, 2006 includes a sum of Rs. 404 million representing the transfer from shareholders' account to policyholders' account to fund the deficit in the policyholders' account in the life insurance business.(Corresponding previous quarter Rs. Nil).

  5. The results for the quarter ended June 30, 2006 have been subjected to "Limited Review" by the auditors.

  6. Figures for previous year / period have been regrouped wherever necessary.

  7. The company did not have any investor complaints pending as on as on 1 April 2006 and as on 30 June 2006. There were Nil investors' complaints received and disposed of during the quarter ended 30 June 2006.

  8. The above results have been taken on record in the meeting of Board of Directors held on July 15, 2006.
 
BY ORDER OF THE BOARD OF DIRECTORS
FOR BAJAJ AUTO LIMITED
 
PUNE
DATE :  July 15, 2006
RAHUL BAJAJ
CHAIRMAN
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