|
|
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2007 |
(Rs. in Million) |
|
QUARTER
ENDED
30.06.2007
( Reviewed )
|
QUARTER
ENDED
30.06.2006
( Reviewed )
|
YEAR
ENDED
31.03.2007
(Audited)
|
Sales in numbers |
571,591
|
647,094
|
2,721,824
|
Gross Sales & Income from Operations |
23616.0
|
25053.6
|
108342.7
|
Less: Excise duty |
2524.9
|
3027.0
|
13138.6
|
Net Sales & Income from Operations |
21091.1
|
22026.6
|
95204.1
|
Other Income |
1026.9
|
945.6
|
5556.4
|
TOTAL INCOME |
22118.0
|
22972.2
|
100760.5
|
TOTAL EXPENDITURE : |
|
|
|
a) (Increase)/decrease in stock-in-trade |
27.0
|
224.0
|
9.0
|
b) Materials |
|
15319.9
|
69001.1
|
c) Staff Cost |
986.7
|
844.0
|
3015.2
|
d) Other expenditure |
2121.6
|
2085.7
|
9329.6
|
e) Expenses capitalised |
(31.0)
|
(65.7)
|
(320.5)
|
Interest |
0.6
|
7.3
|
53.4
|
GROSS PROFIT AFTER INTEREST BUT BEFORE DEPRECIATION AND TAXATION |
3779.9
|
4557.0
|
19672.7
|
Export incentives accrued in previous year written off
|
-
|
103.9
|
103.9
|
Compensation paid under Voluntary Retirement Schemes
|
-
|
11.8
|
385.7
|
Depreciation |
490.2
|
481.2
|
1902.6
|
PROFIT BEFORE TAX |
3289.7
|
3960.1
|
17280.5
|
Provision for Taxation (Including Deferred Taxes and Fringe Benefit Tax) |
1025.0
|
1300.0
|
4900.9
|
NET PROFIT |
2264.7
|
2660.1
|
12379.6
|
Prior period adjustments (net) |
-
|
-
|
(8.6)
|
Profit after prior period adjustments
|
2264.7
|
2660.1
|
12371.0
|
Paid up Equity Share Capital (Face value of Rs 10/-)
|
1011.8
|
1011.8
|
1011.8
|
Reserves excluding Revaluation Reserves
|
|
|
54331.4
|
Basic and Diluted Earnings per Share of Rs. 10/- each (not annualised) (Rs). |
22.4
|
26.3
|
122.3
|
Aggregate of Public Shareholding : |
|
|
|
No. of shares
|
68,718,900
|
69,000,745
|
68,986,672
|
Percentage of Shareholding
|
67.92%
|
68.19%
|
68.18%
|
|
|
|
|
|
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, 2007 |
(Rs. in Million)
|
|
QUARTER
ENDED
30.06.2007
|
QUARTER
ENDED
30.06.2006
|
YEAR
ENDED
31.03.2007
(Audited)
|
Net Sales / Income from operations |
22064.3
|
22942.8
|
101186.7
|
|
|
|
|
TOTAL EXPENDITURE : |
|
|
|
a) Materials |
15297.1
|
15553.8
|
68990.5
|
b) Staff Cost |
1007.2
|
850.0
|
3059.5
|
c) Other expenditure |
2199.9
|
2078.6
|
9428.3
|
d) Expenses capitalised |
(31.0)
|
(65.7)
|
(320.5)
|
Interest |
0.6
|
7.3
|
55.4
|
Gross Profit after Interest but before Depreciation & Taxation |
3590.5
|
4518.8
|
19973.5
|
Export incentives accrued in previous year written off
|
-
|
103.9
|
103.9
|
Compensation paid under Voluntary Retirement Schemes
|
-
|
11.8
|
385.7
|
Depreciation |
491.2
|
481.9
|
1905.9
|
Profit before Tax and share of profit on Investments in Associates
|
3099.3
|
3921.2
|
17578.0
|
Add: Share of Profit after tax on Investments in Associates
|
18.3
|
14.3
|
203.9
|
Profit before Tax |
3117.6
|
3935.5
|
17781.9
|
Provision for Taxation (Including Deferred Taxes & Fringe Benefit Tax) |
1159.7
|
1419.3
|
5279.5
|
Net Profit |
1957.9
|
2516.2
|
12502.4
|
Prior period adjustments |
|
|
|
|
Tax credits pertaining to earlier years |
-
|
-
|
4.9
|
|
Others (net)
|
-
|
-
|
(8.6)
|
Profit after prior period adjustments |
1957.9
|
2516.2
|
12498.7
|
Less: Minority Interest in Net Income of subsidiaries |
(53.6)
|
(41.5)
|
5.2
|
|
2011.5
|
2557.7
|
12493.5
|
Adjustments on account of write down of deferred tax assets |
-
|
-
|
10.7
|
Income attributable to consolidated group
|
2011.5
|
2557.7
|
12482.8
|
|
|
|
|
|
SEGMENT-WISE REVENUE, RESULTS AND CAPITAL EMPLOYED
|
(Rs. in Million)
|
|
QUARTER
ENDED
30.06.2007
|
QUARTER
ENDED
30.06.2006
|
YEAR
ENDED
31.03.2007
(Audited)
|
Segment Revenue |
|
|
|
Automotive |
21082.6
|
22039.7
|
95255.6
|
Insurance |
20054.6
|
9662.4
|
66231.5
|
Investment & Others |
1043.8
|
952.4
|
5592.5
|
Total
|
42181.0
|
32654.5
|
167079.6
|
Less:Inter segment Revenue |
96.1
|
61.6
|
520.0
|
Net Sales/Income from operations
|
42084.9
|
32592.9
|
166559.6
|
Segment Profit/(Loss) before Tax and Interest
|
|
|
|
Automotive |
2200.2
|
3109.2
|
12017.6
|
Insurance |
(49.8)
|
(40.8)
|
453.3
|
Investment & Others |
967.8
|
874.4
|
5366.4
|
Total
|
3118.2
|
3942.8
|
17837.3
|
Less: Interest |
0.6
|
7.3
|
55.4
|
Total Profit Before Tax |
3117.6
|
3935.5
|
17781.9
|
Capital Employed |
|
|
|
Automotive |
11287.3
|
7410.8
|
10108.5
|
Insurance |
7827.3
|
5383.3
|
7968.2
|
Investment & Others |
66988.9
|
63399.4
|
66061.0
|
Unallocable |
(4292.3)
|
(4408.5)
|
(3867.7)
|
Total
|
81811.2
|
71785.0
|
80270.0
|
|
|
|
|
|
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) PT. Bajaj Auto Indonesia
|
95%
|
Automotive
|
Subsidiary
|
e) Bajaj Holdings & Investment Limited |
100%
|
Investment
|
Subsidiary
|
f) Bajaj Finserv Limited |
100%
|
Investment
|
Subsidiary
|
g) Maharashtra Scooters Limited |
24%
|
Automotive & Investments
|
Joint venture
|
h) Bajaj Allianz Financial Distributors Limited |
50%
|
Investment
|
Joint venture
|
i) Bajaj Auto Finance Limited |
44.42%
|
Hire Purchase Financing
|
Associate
|
NOTES: |
- Gross Written Premium (GWP) for the quarter ended June 30, 2007 of general and life insurance business is Rs. 5,737.3 million and Rs. 10,598.7 million respectively. The corresponding figure for the quarter
ended June 30, 2006 was Rs. 4501.4 million and Rs. 7321.9 million respectively.
As a result, the impact of unrealised loss (net) consequent to foreign currency fluctuations, in respect of effective hedging instruments, represented by Forward Covers to hedge future exports,
aggregating Rs. 16824 lakhs, are carried as a Hedging Reserve to be ultimately set off when the underlying transaction arises, in the profit and loss account, as against the practice of recognizing the
same in the profit and loss account, on valuation at the end of each period.
- For the purpose of consolidated financials the net result of the insurance business revenue accounts together with shareholders income and transfers in accordance with the reporting framework of IRDA amounting
to a net loss of Rs. 44.3 million prior to elimination of inter segment revenue of Rs. 17.8 million for the quarter ended June 30, 2007 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.
- The results for the quarter ended June 30, 2007 have been subjected to "Limited Review" by the auditors.
- The Scheme of arrangement, involving the demerger of the undertakings of the company resulting into three entities viz. Bajaj Auto Limited, Bajaj Finserv Limited and Bajaj Holdings & Investment Limited,
was approved by the Board of Directors at its meeting held on 17 May 2007.
Pending approval of the Honourable High Court of Bombay, the above results of the company continue to be prepared as a single entity.
- Figures for previous year / period have been regrouped wherever necessary.
- The company did not have any investor complaints pending as on 1 April 2007 and as on 30 June 2007. There were five investors' complaints received and disposed of during the quarter ended 30 June 2007.
- The above results have been reviewed by the Audit Committee and taken on record in the meeting of Board of Directors held on July 12, 2007.
|
|
|
BY ORDER OF THE BOARD OF DIRECTORS
FOR BAJAJ AUTO LIMITED
|
Pune Date : July 12, 2007 |
RAHUL BAJAJ
CHAIRMAN
|
|
|
|
|
|