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UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED DECEMBER 31, 2006
(Rs. in Million)
 
QUARTER ENDED
31.12.2006 (Reviewed)
QUARTER 
ENDED
31.12.2005
(Reviewed)
NINE MONTHS
ENDED
31.12.2006
(Reviewed)
NINE MONTHS
ENDED
31.12.2005
(Reviewed)
YEAR ENDED
31.03.2006
(Audited)
Sales in numbers 738,219 600,824 2,093,437 1,661,900 2,281,230
Gross Sales & Income  from Operations 29267.0 22847.4 82072.0 62746.2
87483.8
Less: Excise duty 3584.7 2838.0 10003.4 7725.8
10804.8
Net Sales & Income from Operations 25682.3 20009.4 72068.6 55020.4
76679.0
Other Income 1609.5 1063.8 3979.4 3353.6
4384.5
TOTAL INCOME 27291.8 21073.2 76048.0
58374.0
81063.5
TOTAL EXPENDITURE :
a) (Increase)/decrease in stock-in-trade
(46.8)
(49.9)
 245.6
(60.6)
(490.1)
b) Materials
18902.6
14028.8
51845.9
38445.1
53736.1
c) Staff Cost
757.1
675.5
2327.0
2059.7
2741.3
d) Other expenditure
2491.7
1822.7
6922.6
5447.3
7377.1
e) Expenses capitalised
(58.5)
(49.0)
 (179.3)
(184.1)
(248.1)
Interest
2.2
1.4
29.5
2.8
3.4
GROSS PROFIT AFTER INTEREST BUT BEFORE DEPRECIATION AND TAXATION 5243.5 4643.7 14856.7 12663.8 17943.8
Export incentives accrued in previous year written off
 -  - 103.9 - -
Compensation paid under Voluntary Retirement Schemes (See note 4)
123.2
107.9
 261.0 107.9 226.4
Depreciation
472.1
490.5
 1445.0 1442.5 1910.0
PROFIT BEFORE TAX
4648.2
4045.3
13046.8
11113.4
15807.4
Provision for Taxation (Including Deferred Taxes and
Fringe Benefit Tax)
1200.0
1245.0
3750.0
3315.0
4791.1
NET PROFIT
3448.2
2800.3
9296.8
7798.4
11016.3
Prior period adjustments          
  Tax credits pertaining to earlier years
 - - - - 225.1
  Others (net)
3.7
(10.4)
(8.9)
(35.4)
(8.7)
Profit after prior period adjustments
3451.9
2789.9
9287.9
7763.0
11232.7
Paid up Equity Share Capital (Face value of Rs 10/-)
 1011.8 1011.8 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).
34.1
27.5
91.8
76.7
111.0
Aggregate of Public Shareholding :
      No. of shares
69,060,177
68,742,915
68,727,147
      Percentage of Shareholding
68.25%
67.94%
67.92%
 
CONSOLIDATED FINANCIAL AND SEGMENT-WISE RESULTS OF BAJAJ AUTO LTD. AND ITS SUBSIDIARIES, JOINT VENTURES AND ASSOCIATES
UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED DECEMBER 31, 2006
(Rs. in Million)
 
QUARTER ENDED
31.12.2006
QUARTER  ENDED
31.12.2005
NINE MONTHS
ENDED
31.12.2006
NINE MONTHS
ENDED
31.12.2005
YEAR ENDED
31.03.2006
(Audited)
Net Sales / Income 26960.3 20808.2 75291.7 58062.2
81037.4
           
TOTAL EXPENDITURE :
a) Materials
18790.5
13986.4
52036.4
38408.0
53281.5
b) Staff Cost
771.1
676.6
2352.9
2072.5
2763.6
c) Other expenditure
2487.5
1801.6
6909.7
5425.1
7391.4
d) Expenses capitalised
(58.5)
(49.0)
(179.3)
(184.1)
(248.1)
Interest
2.2
1.4
29.5
2.8
3.4
Gross Profit after Interest but before Depreciation & Taxation 4967.5 4391.2 14142.5 12337.9 17845.6
Export incentives accrued in previous year written off
 - - 103.9 - -
Compensation paid under Voluntary Retirement Schemes (See note 4)
123.2
108.3
 261.0 109.0 227.8
Depreciation
472.9 
491.1
 1447.1 1444.5 1912.8
Profit before Tax and share of profit on Investments in Associates
4371.4
3791.8
12330.5
10784.4
15705.0
Add: Share of Profit/(Loss) after tax on Investments in Associates
 69.9 (55.2) 109.8 55.2 93.1
Profit before Tax
4441.3
3736.6
12440.3
10839.6
15798.1
Provision for Taxation (Including Deferred Taxes & Fringe Benefit Tax)
1229.9
1256.9
3949.4
3465.1
5093.7
Net Profit
3211.4
2479.7
8490.9
7374.5
10704.4
Prior period adjustments          
  Tax credits pertaining to earlier years - - - - 228.2
  Others (net)
3.7
(10.4)
(8.9)
(35.4)
(8.7)
Profit after prior period adjustments
3215.1
2469.3
8482.0
7339.1
10923.9
Less: Minority Interest in Net Income of subsidiaries (68.4) (70.5) (226.9) (133.5) (122.1)
Income attributable to consolidated group
3283.5
2539.8
8708.9
7472.6
11046.0
           
 

SEGMENT-WISE REVENUE, RESULTS AND CAPITAL EMPLOYED
        (Rs. in Million)
 
QUARTER ENDED
31.12.2006
QUARTER 
ENDED
31.12.2005
NINE MONTHS
ENDED
31.12.2006
NINE MONTHS
ENDED
31.12.2005
YEAR ENDED
31.03.2006
(Audited)
Segment Revenue          
Automotive
25598.8
20020.4
71999.9
55054.0
76728.2
Insurance
13772.9
9839.6
34709.1
20847.3
38440.4
Investment & Others
1625.2
1074.8
4007.6
3404.3
4470.7
Total
40996.9
30934.8
110716.6
79305.6
119639.3
Less:Inter segment Revenue
91.0
57.3
273.1
211.6
254.5
Net Sales/Income from operations
40905.9
30877.5
110443.5
79094.0
119384.8
Segment Profit/(Loss) before Tax and Interest
Automotive
3067.9
3069.5
9293.8
8067.0
11826.9
Insurance
(226.5)
(259.3)
(667.3)
(363.9)
(167.4)
Investment & Others
1602.1
927.8
3843.3
3139.3
4142.0
Total
4443.5
3738.0
12469.8
10842.4
15801.5
Less: Interest
2.2
1.4
29.5
2.8
3.4
Total Profit Before Tax
4441.3
3736.6
12440.3
10839.6
15798.1
Capital Employed
Automotive
10029.0
9916.9
10029.0
9916.9
6839.9
Insurance
5119.6
3853.7
5119.6
3853.7
5640.1
Investment & Others
62387.3
53308.0
62387.3
53308.0
60325.7
Unallocable
1201.4
1069.3
1201.4
1069.3
(3828.9)
Total
78737.3
68147.9
78737.3
68147.9
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) PT. Bajaj Auto Indonesia

95%

Automotive

 Subsidiary
e) Maharashtra Scooters Limited

24%

 Automotive & Investments Joint venture
f) Bajaj Auto Finance Limited

41.51%

 Hire Purchase Financing Associate
 
NOTES:
  1. Gross Written Premium (GWP) for the quarter and nine months ended December 31, 2006 of general insurance business is Rs. 4,594.1 million and Rs. 13,015.2 million respectively. The corresponding figure for the quarter and nine months ended December 31, 2005 was Rs. 3330.4 million and Rs. 9552.8 million respectively.

    Gross Written Premium (GWP) for the quarter and nine months ended December 31, 2006 of life insurance business is Rs. 10,981.3 million and Rs. 27,087.6 million respectively. The corresponding figure for the quarter and nine months ended December 31, 2005 was Rs. 8077.8 million and Rs. 15839.2 million respectively.

  2. For the purpose of consolidated financials the net result of the insurance business revenue accounts together with shareholders income and transfers to policyholders revenue account in accordance with the reporting framework of IRDA, amounting to a net loss of Rs. 641.8 million prior to elimination of inter segment revenue of Rs. 74 million for the nine months ended December 31, 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.

  3. PT. Bajaj Auto Indonesia commenced operations during the current quarter.

  4. The company had announced a Voluntary Retirement Scheme (VRS) on 23rd August 2006 for the workmen and on 13th September 2006 for the staff of its Akurdi plant. The schemes were open till 25th September 2006. In response to the VRS, 349 workmen and 40 staff opted for the same.

    In line with the policy consistently followed by the company, the liability amounting to Rs. 374 million, in respect of the same will be charged equally over the three quarters of the year. A sum of Rs. 123 million has been charged in the current quarter, aggregating to a cumulative charge for the nine months of this financial year of Rs. 249 million. The balance will be charged in the last quarter of the current financial year.

  5. The results for the quarter ended December 31, 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 1 October 2006 and as on 31 December 2006. There were six investors' complaints received and disposed of during the quarter ended 31 December 2006.

  8. The above results have been reviewed by the Audit Committee and taken on record in the meeting of Board of Directors held on January 16, 2007.
 
 
BY ORDER OF THE BOARD OF DIRECTORS
FOR BAJAJ AUTO LIMITED
PUNE
DATE : January 16, 2007
RAHUL BAJAJ
CHAIRMAN
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