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AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED MARCH 31, 2007
(Rs. in Million)
 
NINE MONTHS ENDED
31.12.2006
QUARTER ENDED
31.03.2007
QUARTER ENDED
31.03.2006
YEAR
ENDED
31.03.2007
(Audited)
YEAR
ENDED
31.03.2006
(Audited)
Sales in numbers 2,093,437 628,387 619,330 2,721,824 2,281,230
Gross Sales & Income  from Operations 82072.0 26270.7 24737.6 108342.7
87483.8
Less: Excise duty 10003.4 3135.2 3079.0 13138.6
10804.8
Net Sales & Income from Operations 72068.6 23135.5 21658.6 95204.1
76679.0
Other Income 3979.4 1577.0 1030.9 5556.4
4384.5
TOTAL INCOME 76048.0 24712.5 22689.5
100760.5
81063.5
TOTAL EXPENDITURE :
a) (Increase)/decrease in stock-in-trade
245.6
(236.6)
(429.5)
9.0
(490.1)
b) Materials
51845.9
17155.2
15291.0
69001.1
53736.1
c) Staff Cost
2327.0
688.2
681.6
3015.2
2741.3
d) Other expenditure
6922.6
2407.0
1929.8
9329.6
7377.1
e) Expenses capitalised
(179.3)
(141.2)
(64.0)
(320.5)
(248.1)
Interest
29.5
23.9
0.6
53.4
3.4
GROSS PROFIT AFTER INTEREST BUT BEFORE DEPRECIATION AND TAXATION 14856.7 4816.0 5280.0 19672.7 17943.8
Export incentives accrued in previous year written off
103.9 103.9
Compensation paid under Voluntary Retirement Schemes
261.0
124.7
118.5 385.7 226.4
Depreciation
1445.0
457.6
467.5 1902.6 1910.0
PROFIT BEFORE TAX
13046.8
4233.7
4694.0
17280.5
15807.4
Provision for Taxation (Including Deferred Taxes and
Fringe Benefit Tax)
3750.0
1150.9
1476.1
4900.9
4791.1
NET PROFIT
9296.8
3082.8
3217.9
12379.6
11016.3
Prior period adjustments          
  Tax credits pertaining to earlier years
225.1 225.1
  Others (net)
(8.9)
0.3
26.7
(8.6)
(8.7)
Profit after prior period adjustments
9287.9
3083.1
3469.7
12371.0
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
      54331.4 46695.5
Basic and Diluted Earnings per Share of Rs. 10/- each (not annualised) (Rs).
91.8
30.5
34.3
122.3
111.0
Aggregate of Public Shareholding :
      No. of shares
 
68,986,672
68,727,147
      Percentage of Shareholding
 
68.18%
67.92%
           
 
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, 2007
(Rs. in Million)
 
NINE MONTHS ENDED
31.12.2006
QUARTER ENDED
31.03.2007
QUARTER ENDED
31.03.2006
YEAR
ENDED
31.03.2007
(Audited)
YEAR
ENDED
31.03.2006
(Audited)
Net Sales / Income from operations 75291.7 25895.0 22975.2 101186.7
81037.4
           
TOTAL EXPENDITURE :
a) Materials
52036.4
16954.1
14873.5
68990.5
53281.5
b) Staff Cost
2352.9
706.6
691.1
3059.5
2763.6
c) Other expenditure
6909.7
2518.6
1966.3
9428.3
7391.4
d) Expenses capitalised
(179.3)
(141.2)
(64.0)
(320.5)
(248.1)
Interest
29.5
25.9
0.6
55.4
3.4
Gross Profit after Interest but before Depreciation & Taxation 14142.5 5831.0 5507.7 19973.5 17845.6
Export incentives accrued in previous year written off
103.9 103.9
Compensation paid under Voluntary Retirement Schemes
261.0
124.7
118.8 385.7 227.8
Depreciation
1447.1
458.8
468.3 1905.9 1912.8
Profit before Tax and share of profit on Investments in Associates
12330.5
5247.5
4920.6
17578.0
15705.0
Add: Share of Profit after tax on Investments in Associates
109.8 94.1 37.9 203.9 93.1
Profit before Tax
12440.3
5341.6
4958.5
17781.9
15798.1
Provision for Taxation (Including Deferred Taxes & Fringe Benefit Tax)
3949.4
1330.1
1628.6
5279.5
5093.7
Net Profit
8490.9
4011.5
3329.9
12502.4
10704.4
Prior period adjustments          
  Tax credits/ (debits) pertaining to earlier years - 4.9 228.2 4.9 228.2
  Others (net)
(8.9)
0.3
26.7
(8.6)
(8.7)
Profit after prior period adjustments
8482.0
4016.7
3584.8
12498.7
10923.9
Less: Minority Interest in Net Income of subsidiaries (226.9) 232.1 11.4 5.2 (122.1)
 
8708.9
3784.6
3573.4
12493.5
11046.0
Adjustments on account of write down of deferred tax assets 10.7 10.7
Income attributable to consolidated group
8708.9
3773.9
3573.4
12482.8
11046.0
           
 

SEGMENT-WISE REVENUE, RESULTS AND CAPITAL EMPLOYED

        (Rs. in Million)
 
NINE MONTHS ENDED
31.12.2006
QUARTER ENDED
31.03.2007
QUARTER ENDED
31.03.2006
YEAR
ENDED
31.03.2007
(Audited)
YEAR
ENDED
31.03.2006
(Audited)
Segment Revenue          
Automotive
71999.9
23255.7
21674.2
95255.6
76728.2
Insurance
34709.1
31522.4
17593.1
66231.5
38440.4
Investment & Others
4007.6
1584.9
1066.4
5592.5
4470.7
Total
110716.6
56363.0
40333.7
167079.6
119639.3
Less:Inter segment Revenue
273.1
246.9
42.9
520.0
254.5
Net Sales/Income from operations
110443.5
56116.1
40290.8
166559.6
119384.8
Segment Profit/(Loss) before Tax and Interest
Automotive
9293.8
2723.8
3759.9
12017.6
11826.9
Insurance
(667.3)
1120.6
196.5
453.3
(167.4)
Investment & Others
3843.3
1523.1
1002.7
5366.4
4142.0
Total
12469.8
5367.5
4959.1
17837.3
15801.5
Less: Interest
29.5
25.9
0.6
55.4
3.4
Total Profit Before Tax
12440.3
5341.6
4958.5
17781.9
15798.1
Capital Employed
Automotive
10029.0
10108.5
6839.9
10108.5
6839.9
Insurance
5119.6
7968.2
5640.1
7968.2
5640.1
Investment & Others
62387.3
66061.0
60325.7
66061.0
60325.7
Unallocable
1201.4
(3867.7)
(3828.9)
(3867.7)
(3828.9)
Total
78737.3
80270.0
68976.8
80270.0
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) PT. Bajaj Auto Indonesia

95%

Automotive

Subsidiary
e) Maharashtra Scooters Limited

24%

Automotive & Investments Joint venture
f) Bajaj Auto Finance Limited

44.42%

Hire Purchase Financing Associate
 
NOTES:
  1. Gross Written Premium (GWP) for the quarter and year ended March 31, 2007 of general insurance business is Rs. 5,018.2 million and Rs. 18,033.4 million respectively. The corresponding figure for the quarter and year ended March 31, 2006 was Rs. 3,292.9 million and Rs. 12,845.7 million respectively.

    Gross Written Premium (GWP) for the quarter and year ended March 31, 2007 of life insurance business is Rs. 26,012.4 million and Rs. 53,100 million respectively. The corresponding figure for the quarter and year ended March 31, 2006 was Rs. 15,496.6 million and Rs. 31,335.8 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 surplus of Rs. 528.1 million prior to elimination of inter segment revenue of Rs. 189.5 million for the year ended March 31, 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.

  3. The Consolidated Financial Statements exclude Bajaj Allianz Financial Distributors Ltd, an Indian Company which is a joint venture between Bajaj Auto Ltd. and Allianz SE, Germany as the first financial year of the company will be from the date of incorporation of the company i.e. 16th March 2007 till 31st March 2008.

  4. Directors recommend a dividend of Rs. 40 per share (400 %) subject to approval of shareholders.

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

  6. The company did not have any investor complaints pending as on 1 January 2007 and as on 31 March 2007. There were five investors' complaints received and disposed of during the quarter ended 31 March 2007.

  7. The above results have been reviewed by the Audit Committee and taken on record in the meeting of Board of Directors held on May 17, 2007.

 
BY ORDER OF THE BOARD OF DIRECTORS
FOR BAJAJ AUTO LIMITED
MUMBAI
DATE : May 17, 2007
RAHUL BAJAJ
CHAIRMAN
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