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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
15233.2
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:
  1. 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.

  2. 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.

  3. The results for the quarter ended June 30, 2007 have been subjected to "Limited Review" by the auditors.

  4. 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.

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

  6. 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.

  7. 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
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