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AUDITED FINANCIAL RESULTS OF BAJAJ AUTO LIMITED FOR THE YEAR ENDED MARCH 31, 2008
(Rs. in Million)
 
NINE MONTHS
ENDED
31.12.2007
(Audited)
QUARTER
ENDED
31.03.2008
(Audited)
YEAR ENDED
31.03.2008
(Audited)
Sales in numbers
1,898,819
552,588
2,451,407
Gross Sales & Income  from Operations
77969.4
22758.7
100728.1
Less: Excise duty
8252.2
2014.4
10266.6
Net Sales & Income from Operations
69717.2
20744.3
90461.5
Other Income
1022.3
204.6
1226.9
TOTAL INCOME
70739.5
20948.9
91688.4
EXPENDITURE :
a) (Increase) / decrease in stock in trade and work in progress
(289.5)
(389.0)
(678.5)
b) Consumption of raw materials
49137.2
14347.2
63484.4
c) Purchase of traded goods
2115.7
1282.1
3397.8
d) Employees Cost
2553.2
863.0
3416.2
e) Depreciation and write downs
1325.7
413.9
1739.6
f) Other expenditure
6048.4
2088.4
8136.8
g) Expenses capitalised
(167.5)
(62.9)
(230.4)
Total
60723.2
18542.7
79265.9
Interest
33.5
18.1
51.6
Exceptional items
Compensation paid under Voluntary Retirement Schemes
511.8
511.8
1023.6
Profit / (Loss) from ordinary activities before tax
9471.0
1876.3
11347.3
Tax expense (Including Fringe Benefit Tax)
3118.2
669.6
3787.8
Net Profit / (Loss) from ordinary activities after tax
6352.8
1206.7
7559.5
Prior period adjustments
(2.9)
1.2
(1.7)
Net Profit / (Loss) for the period
6349.9
1207.9
7557.8
Paid up Equity Share Capital (Face value of Rs 10/-)
1446.8
1446.8
1446.8
Weighted average number of shares (In million)
139.5
Reserves excluding Revaluation Reserves as at 31st March 2008
14429.1
Basic and Diluted Earnings Per Share ( Rs.)
a) before extraordinary items
54.2
b) after extraordinary items
54.2
Public shareholding
No. of shares (See Note 5)
70,130,634
Percentage of Shareholding (See Note 5)
48.47%
 
CONSOLIDATED FINANCIAL AND SEGMENT-WISE RESULTS OF BAJAJ AUTO LIMITED AND ITS SUBSIDIARIES, JOINT VENTURES AND ASSOCIATES
AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE YEAR ENDED MARCH 31, 2008
(Rs. in Million)
 
NINE MONTHS
ENDED
31.12.2007
(Audited)
Quarter
ENDED
31.03.2008
(Audited)
YEAR ENDED
31.03.2008
(Audited)
Net Sales & Income from operations
70829.3
20810.7
91640.0
       
EXPENDITURE :  
a) (Increase) / decrease in stock-in-trade and work in progress
(289.5)
(389.0)
(678.5)
b) Consumption of raw materials
49257.9
14215.7
63473.6
c) Purchase of traded goods
2115.7
1282.1
3397.8
d) Employees Cost
2591.1
876.2
3467.3
e) Depreciation
1329.4
416.7
1746.1
f) Other expenditure
6293.1
2152.0
8445.1
g) Expenses capitalised
(167.5)
(62.9)
(230.4)
Total
61130.2
18490.8
79621.0
   
Interest
33.5
18.1
51.6
   
Exceptional items
   
Compensation paid under Voluntary Retirement Schemes
511.8
511.8
1023.6
   
Profit / (Loss) from ordinary activities before tax and share of profit on Investments in Associate of subsidiary
9153.8
1790.0
10943.8
Add: Share of Profit after tax on Investments in associate of subsidiary
-
231.2
231.2
Profit / (Loss) from ordinary activities before tax
9153.8
2021.2
11175.0
Tax expense (Including Fringe Benefit Tax)
3037.6
646.6
3684.2
Profit / (Loss) from ordinary activities after tax
6116.2
1374.6
7490.8
Prior period adjustments (net)
(2.9)
1.2
(1.7)
 
6113.3
1375.8
7489.1
Less: Minority Interest in Net Income of subsidiaries
(5.2)
(1.3)
(6.5)
Net Profit / (Loss) for the period
6118.5
1377.1
7495.6
Paid up Equity Share Capital (Face value of Rs 10/-)
1446.8
1446.8
1446.8
Weighted average number of shares (In million)    
139.5
Reserves excluding Revaluation Reserves as at 31st March 2008    
14788.9
     
Basic and Diluted Earnings Per Share ( Rs.)      
a) before extraordinary items    
53.7
b) after extraordinary items    
53.7
 
SEGMENT-WISE REVENUE, RESULTS AND CAPITAL EMPLOYED
(Rs. in Million)
 
NINE MONTHS
ENDED
31.12.2007
(Audited)
QUARTER
ENDED
31.03.2008
(Audited)
YEAR ENDED
31.03.2008
(Audited)
Segment Revenue
Automotive
69807.0
20606.1
90413.1
Investments
1022.3
204.6
1226.9
Total
70829.3
20810.7
91640.0
 
   
Segment Profit/(Loss) before Tax and Interest
   
Automotive
8165.0
1834.7
9999.7
Investments
1022.3
204.6
1226.9
Total
9187.3
2039.3
11226.6
Less: Interest
33.5
18.1
51.6
Total Profit Before Tax
9153.8
2021.2
11175.0
   
Capital Employed
   
Automotive
13645.0
20528.2
20528.2
Investments
17472.7
12504.0
12504.0
Unallocable
65.0
(3359.6)
(3359.6)
Total
31182.7
29672.6
29672.6
 

NOTE :

The consolidated financial results include results of the following companies:

Name Of The Company

% shareholding and voting power of Bajaj Auto Limited

Segment
Consolidated as

a) PT. Bajaj Auto Indonesia

97.5%

Automotive
Subsidiary

b) Bajaj Auto International Holdings BV

100%

Automotive
Subsidiary
NOTES:
  1. Bajaj Holdings & Investment Limited [(BHIL) – erstwhile Bajaj Auto Limited (BAL)] was demerged under a Scheme of Arrangement sanctioned by the Hon’ble Bombay High Court under Sections 391 to 394 of the Companies Act 1956, whereby its manufacturing undertaking has been transferred to the new Bajaj Auto Limited (BAL) and its strategic business undertaking consisting of wind farm and financial services business has been vested with Bajaj Finserv Limited (BFS). All the businesses and all properties, assets, investments and liabilities of erstwhile BAL, other than the manufacturing undertaking, the strategic business undertaking and part of the investments transferred to BAL and BFS, remain vested with BHIL. The said scheme became effective with effect from 20 February 2008 (the effective date), but operative with retrospective effect from 1 April 2007 (the appointed date).

    The results for the quarter and year ended 31st March 2008 are after giving effect to the assets, liabilities, incomes and expenses, as specified in the scheme.

  2. During the year, Bajaj Auto Limited has acquired 24.45% equity in KTM Power Sports AG through its wholly owned subsidiary Bajaj Auto International Holdings BV.

  3. Directors recommend a dividend of Rs. 20 per share (200%) subject to approval of shareholders.

  4. The company is currently unlisted. There were no investor complaints received by the company during the year.

  5. After allotment of shares pursuant to scheme of demerger on 3 April 2008, the public shareholding in the company went up to 70,130,634 shares (48.47% of the total capital) as on 3 April 2008.

  6. This being the first financial year of the company, there are no previous years figures.

  7. The above results have been reviewed by the Audit Committee and approved by the Board of Directors in the meeting held on May 22, 2008.

 
BY ORDER OF THE BOARD OF DIRECTORS
FOR BAJAJ AUTO LIMITED
 
Mumbai
DATE : May 22, 2008
RAHUL BAJAJ
CHAIRMAN
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