REG - Bajaj Hldgs & Inv - Final Results

Fri May 18, 2012 11:33am EDT

* Reuters is not responsible for the content in this press release.

RNS Number : 6614D
Bajaj Holdings & Investment Ltd
18 May 2012
 

 Bajaj Holdings & Investment Limited

 

Mumbai - Pune Road, Akurdi, Pune 411 035


Statement of standalone unaudited / audited financial results for the quarter and year ended 31 March 2012

(`In Crore)


Particulars

 Quarter ended

 Year ended



31.03.2012

(Unaudited)

31.12.2011

(Unaudited)

31.03.2011

(Audited)

31.03.2012

(Audited)

31.03.2011

(Audited)










1

Income  from operations

                          62.19

                    59.04

               58.95

              647.93

          1,074.56








2

Expenses







(a) Employee benefits expense

                           (0.43)

                      0.62

                 0.73

                  1.07

                 1.92


(b) Depreciation

                            0.06

                      0.06

                 0.06

                  0.24

                 0.24


(c) Other expenses (See note 3)

                            2.32

                      1.17

                 0.56

                  6.24

                 5.17


Total expenses

                            1.95

                      1.85

                 1.35

                  7.55

                 7.33








3

Profit from operations before other income, finance costs and exceptional items (1-2)

                          60.24

                    57.19

               57.60

              640.38

          1,067.23








4

Other income

                            0.15

                      0.44

                 0.45

                  2.44

                 1.89








5

Profit from ordinary activities before finance costs and exceptional items (3+4)

                          60.39

                    57.63

               58.05

              642.82

          1,069.12








6

Finance costs

                                -  

                         -  

                     -  

                  0.01

                     -  








7

Profit from ordinary activities after finance costs but before exceptional items (5-6)

                          60.39

                    57.63

               58.05

              642.81

          1,069.12








8

Exceptional items

                                -  

                         -  

                     -  

                      -  

                     -  








9

Profit from ordinary activities before tax (7+8)

                          60.39

                    57.63

               58.05

              642.81

          1,069.12








10

Tax expense

                          17.54

                    21.57

               24.98

                75.35

               71.41








11

Net Profit from ordinary activities after tax (9-10)

                          42.85

                    36.06

               33.07

              567.46

             997.71








12

Tax credits pertaining to earlier years

                                -  

                         -  

                     -  

                      -  

                 2.38








13

Net Profit / (Loss) for the period (11+12)

                          42.85

                    36.06

               33.07

              567.46

          1,000.09








14

Paid up Equity Share Capital (Face value of 10)

                        111.29

                  111.29

             111.29

              111.29

             111.29








15

Reserves excluding Revaluation Reserves




           4,737.15

          4,491.87








16

Earning Per Share before and after extraordinary items







Basic Earnings Per Share ( `) (not annualised)

3.9

3.2

3.0

51.0

93.4


Diluted Earnings Per Share ( `) (not annualised)

3.9

3.2

3.0

51.0

91.9








 


Particulars

 Quarter ended



 Year ended




31.03.2012

31.12.2011

31.03.2011

31.03.2012

31.03.2011

A

Particulars of shareholding






1

Public shareholding







   Number of shares

               66,288,242

         66,321,077

   68,563,942

    66,288,242

   68,563,942


   Percentage of shareholding

59.56%

59.59%

61.61%

59.56%

61.61%

2

Promoters and Promoter Group Shareholding







(a) Pledged / Encumbered







   Number of shares

                                 -  

                          -  

           64,786

                      -  

           64,786


   Percentage of shares (as a % of the total shareholding of promoters and promoter group)

                                 -  

                          -  

0.15%

                      -  

0.15%


   Percentage of shares (as a % of the total share capital of the company)

                                 -  

                          -  

0.06%

                      -  

0.06%


(b) Non-encumbered







   Number of shares

               44,705,540

        44,645,540

    42,351,069

    44,705,540

    42,351,069


   Percentage of shares (as a % of the total shareholding of promoters and promoter group)

100.00%

100.00%

99.85%

100.00%

99.85%


   Percentage of shares (as a % of the total share capital of the company)

40.17%

40.12%

38.05%

40.17%

38.05%








 



Quarter ended



31.03.2012

B

Investor complaints



Pending at the beginning of the quarter

Nil


Received during the quarter

4


Disposed of during the quarter

4


Remaining unresolved at the end of the quarter

Nil

 

Notes:

 1. Disclosure of assets and liabilities as per clause 41(I)(ea) of the listing agreement for the year ended 31 March 2012 -

(` In Crore )


 Particulars

 As at

31 March 2012

 As at

31 March 2011



 (Audited)

 (Audited)

 A

 Equity and liabilities







1

 Shareholders' funds




 (a) Share capital

                                    111.29

                                    111.29


 (b) Reserves and surplus

                                 4,737.15

                                 4,491.87


 Sub-total - Shareholders' funds

                                 4,848.44

                                 4,603.16





2

 Non-current liabilities




 (a) Deferred tax liabilities (net)

                                       3.73

                                       4.18


 (b) Other long term liabilities

                                     17.50

                                     17.76


 (c) Long-term provisions

                                       0.61

                                       0.95


 Sub-total - Non-current liabilities

                                     21.84

                                     22.89





3

 Current liabilities




 (a) Trade payables

                                       0.68

                                       0.75


 (b) Other current liabilities

                                       9.64

                                       6.97


 (c) Short-term provisions

                                    341.19

                                    454.45


 Sub-total - Current liabilities

                                    351.51

                                    462.17


 Total - Equity and liabilities

                                 5,221.79

                                 5,088.22

 B

 Assets







1

 Non-current assets




 (a) Fixed assets

                                    189.65

                                     29.59


 (b) Non-current investments

                                 3,581.14

                                 3,060.67


 (c) Long-term loans and advances

                                    271.20

                                    277.79


 (d) Other non-current assets

                                    100.00

                                    150.00


 Sub-total - Non-current assets

                                 4,141.99

                                 3,518.05





2

 Current assets




 (a) Current investments

                                    668.08

                                 1,317.62

 (b) Cash and bank balances

                                    402.44

                                    221.81

 (c) Short-term loans and advances

                                       5.56

                                     29.37

 (d) Other current assets

                                       3.72

                                       1.37

 Sub-total - Current assets

                                 1,079.80

                                 1,570.17

 Total - Assets

                                 5,221.79

                                 5,088.22




 

2.  Income from operations includes profit on sale of investments (net) ` 25.39 crore for current quarter; ` 24.09 crore for immediately preceding quarter and ` 85.72 crore for the current year (corresponding previous year quarter ` 19.24 crore and previous year ` 706.52 crore).

3. Other expenses includes following -

(` In Crore)

Particulars

Quarter ended

Year ended

31.03.2012

31.12.2011

31.03.2011

31.03.2012

31.03.2011

Printing charges

                     -  

                  0.01

                     -  

                     -  

                  0.57

Business support service charges

                  0.37

                  0.36

                  0.35

                  1.46

                  1.29







4. The company is essentially a holding and investment company focussing on earning income through dividends, interest and gains on investments held. Hence, the Company's business activity falls within a single business segment i.e. investment and therefore, segment reporting in terms of Accounting Standard 17 on Segment Reporting is not applicable.

5. The Company has opted to publish consolidated financial results, pursuant to option made available as per Clause 41 of the Listing Agreement. These stand alone financial results are available on the company's website viz. www.bhil.in and on the websites of BSE (www.bseindia.com) and NSE (www.nseindia.com).

6. Directors recommend a dividend of ` 25 per share (250 %) subject to approval of shareholders.

9. The figures of the last quarter are the balancing figures between the audited figures in respect of the full financial year and the published year to date figures up to the third quarter of the current financial year.

10. The above results have been reviewed by the Audit Committee and approved by the Board of Directors in the meeting held on 17 May 2012.

BY ORDER OF THE BOARD OF DIRECTORS

FOR BAJAJ HOLDINGS & INVESTMENT LIMITED

Pune

RAHUL BAJAJ

Date : 17 May 2012

Chairman

 

Bajaj Holdings & Investment Limited

Mumbai - Pune Road, Akurdi, Pune 411 035

Statement of consolidated unaudited / audited financial results for the quarter and year ended 31 March 2012


(` In Crore)

Particulars

 Quarter ended

 Year ended


31.03.2012

(Unaudited)

31.12.2011

(Unaudited)

31.03.2011

(Audited)

31.03.2012

(Audited)

31.03.2011

(Audited)








1

Net Sales and Income from operations

                63.81

             62.40

             60.28

            295.31

            898.14








2

Expenses







(a) Cost of materials consumed

                              0.18

                           0.14

                           0.18

                          0.59

                          0.63


(b) Changes in inventories of finished goods, work-in-progress and stock-in-trade

                             0.08

                          0.08

                               -  

                          0.06

                           0.01


(c) Employee benefits expense

                             0.02

                            1.41

                           1.67

                          4.23

                          5.42


(d) Depreciation

                              0.12

                            0.11

                           0.12

                          0.47

                          0.48


(e) Other expenses

                             2.47

                           1.26

                          0.67

                          6.73

                          5.60


Total expenses

                 2.87

               3.00

               2.64

              12.08

               12.14








3

Profit from operations before other income, finance costs and exceptional items (1-2)

               60.94

             59.40

             57.64

           283.23

           886.00








4

Other Income

                         3.43

            0.43

              0.83

                      5.72

                          2.27








5

Profit from ordinary activities before finance costs and exceptional items (3+4)

               64.37

             59.83

             58.47

           288.95

           888.27








6

Finance costs

                                -  

                         -  

                        -  

                      0.01

                               -  








7

Profit from ordinary activities after finance costs but before exceptional items (5-6)

               64.37

             59.83

             58.47

           288.94

           888.27








8

Exceptional item







Share of expenditure incurred for Voluntary Retirement of Employees of joint venture

                              5.71

                           5.71

                               -  

                          14.01

                               -  








9

Profit from ordinary activities before tax (7+8)

 58.66

 54.12

 58.47

 274.93

 888.27








10

Tax expense

                            17.70

                         22.01

                         25.19

                        76.46

                        72.27








11

Net Profit from ordinary activities after tax (9-10)

 40.96

 32.11

 33.28

 198.47

 816.00








12

Add: Share of Profit after tax on Investments in Associates

 588.01

 324.62

 802.36

 1,480.70

 1,504.23








13

Less: Minority Interest in Net Income of subsidiaries

                                  -  

                               -  

                               -  

                               -  

                               -  








14

Net Profit after taxes, minority interest and share of profit / (loss) of associates (11+12-13)

 628.97

 356.73

 835.64

 1,679.17

 2,320.23








15

Tax (debits)/credits pertaining to earlier years

                               -  

                         -  

                 0.15

                            -  

                          2.53








16

Net Profit / (Loss) for the period (14+15)

             628.97

           356.73

           835.79

          1,679.17

        2,322.76








17

Paid up Equity Share Capital (Face value of ` 10)

                     111.29

               111.29

              111.29

                  111.29

                        111.29








18

Reserves excluding Revaluation Reserves




              8,568.73

                  7,339.54








19

Earning Per Share before and after extraordinary items







Basic Earnings Per Share ( `) (not annualised)

                          56.5

                    32.1

                 75.9

                    150.9

                         217.0


Diluted Earnings Per Share ( `) (not annualised)

                         56.5

                    32.1

                 75.5

                    150.9

                         213.5
















Particulars

 Quarter ended



 Year ended




31.03.2012

31.12.2011

31.03.2011

31.03.2012

31.03.2011

A

Particulars of shareholding






1

Public shareholding







   Number of shares

               66,288,242

         66,321,077

       68,563,942

           66,288,242

             68,563,942


   Percentage of shareholding

59.56%

59.59%

61.61%

59.56%

61.61%

2

Promoters and Promoter Group Shareholding







(a) Pledged / Encumbered







   Number of shares

                               -  

                         -  

              64,786

                           -  

                     64,786


   Percentage of shares (as a % of the total shareholding of promoters and promoter group)

                                  -  

                               -  

0.15%

                               -  

0.15%


   Percentage of shares (as a % of the total share capital of the company)

                                  -  

                               -  

0.06%

                               -  

0.06%


(b) Non-encumbered







   Number of shares

               44,705,540

        44,645,540

       42,351,069

          44,705,540

              42,351,069


   Percentage of shares (as a % of the total shareholding of promoters and promoter group)

100.00%

100.00%

99.85%

100.00%

99.85%


   Percentage of shares (as a % of the total share capital of the company)

40.17%

40.12%

38.05%

40.17%

38.05%








 






Quarter ended



31.03.2012

B

Investor complaints



Pending at the beginning of the quarter

Nil


Received during the quarter

4


Disposed of during the quarter

4


Remaining unresolved at the end of the quarter

Nil

 

Notes:

1. The consolidated financial results include results of the following companies:

Name of the company

% shareholding and voting power of Bajaj Holdings & Investment Limited

Consolidated as

a. Bajaj Auto Limited

31.49%

Associate

b. Bajaj Finserv Limited

39.15%

Associate

c. Bajaj Auto Holdings Limited

100%

Subsidiary

d. Maharashtra Scooters Limited

24%

Joint venture


2. Disclosure of assets and liabilities as per clause 41(I)(ea) of the listing agreement for the year ended 31 March 2012 -

(` In Crore )


 Particulars

 As at

31 March 2012

 As at

31 March 2011



 (Audited)

 (Audited)

 A

 Equity and liabilities







1

 Shareholders' funds




 (a) Share capital

                                    111.29

                                    111.29


 (b) Reserves and surplus

                                 8,568.73

                                 7,339.54


 Sub-total - Shareholders' funds

                                 8,680.02

                                 7,450.83





2

 Minority Interest

                                          -  

                                          -  





3

 Non-current liabilities




 (a) Deferred tax liabilities (net)

                                       3.73

                                       4.18


 (b) Other long term liabilities

                                     24.91

                                     18.23


 (c) Long-term provisions

                                       0.61

                                       0.95


 Sub-total - Non-current liabilities

                                     29.25

                                     23.36





4

 Current liabilities




 (a) Trade payables

                                       0.89

                                       1.31


 (b) Other current liabilities

                                     10.98

                                       9.90


 (c) Short-term provisions

                                    341.33

                                    454.80


 Sub-total - Current liabilities

                                    353.20

                                    466.01


 Total - Equity and liabilities

                                 9,062.47

                                 7,940.20

 B

 Assets







1

 Non-current assets




 (a) Fixed assets

                                    191.46

                                     31.63


 (b) Goodwill on consolidation

                                    352.72

                                    341.85


 (c) Non-current investments

                                 7,004.90

                                 5,519.54


 (d) Long-term loans and advances

                                    276.09

                                    281.40


 (e) Other non-current assets

                                    100.01

                                    150.22


 Sub-total - Non-current assets

                                 7,925.18

                                 6,324.64





2

 Current assets




 (a) Current investments

                                    700.75

                                 1,355.23


 (b) Inventories

                                       0.06

                                       0.13


 (c) Trade receivables

                                       0.38

                                       0.31


 (d) Cash and bank balances

                                    424.85

                                    222.67


 (e) Short-term loans and advances

                                       6.48

                                     34.50


 (f) Other current assets

                                       4.77

                                       2.72


 Sub-total - Current assets

                                 1,137.29

                                 1,615.56


 Total - Assets

                                 9,062.47

                                 7,940.20





 


3. The company is essentially a holding and investment company focussing on earning income through dividends, interest and gains on investments held. Hence, the Company's business activity falls within a single business segment i.e. investment and therefore, segment reporting in terms of Accounting Standard 17 on Segment Reporting is not applicable.

4. The Company has opted to publish consolidated financial results, pursuant to option made available as per Clause 41 of the Listing Agreement. The stand alone financial results are available on the company's website viz. www.bhil.in and on the websites of BSE (www.bseindia.com) and NSE (www.nseindia.com).  Key standalone financial information is given below:

(` In Crore)

Particulars

Quarter ended



Year ended



31.03.2012

31.12.2011

31.03.2011

31.03.2012

31.03.2011

Income from operations & other income*

62.34

59.48

59.40

650.37

1076.45

Profit before tax

60.39

57.63

58.05

642.81

1069.12

Profit after tax

42.85

36.06

33.07

567.46

997.71

*Income from operations includes profit on sale of investments (net) ` 25.39 crore for current quarter; ` 24.09 crore for immediately preceding quarter and     ` 85.72 crore for the current year (corresponding previous year quarter ` 19.24 crore and previous year ` 706.52 crore).

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

7. ` 1 crore is equal to ` 10 million.

8. The figures of the last quarter are the balancing figures between the audited figures in respect of the full financial year and the published year to date figures up to the third quarter of the current financial year.

9. The above results have been reviewed by the Audit Committee and approved by the Board of Directors in the meeting held on 17 May 2012.




BY ORDER OF THE BOARD OF DIRECTORS

FOR BAJAJ HOLDINGS & INVESTMENT LIMITED


Pune

RAHUL BAJAJ

 

Bajaj Holdings & Investment Limited

 

 

PRESS RELEASE

FINANCIAL YEAR 2011-12

 

 

A meeting of the Board of Directors of Bajaj Holdings & Investment Limited (BHIL) was held today to consider and approve the results for the FY12.

 

The Board of Directors recommended a dividend of ` 25 per share - 250%  ( previous year - 350% ).

The total amount of dividend and tax thereon amounts to ` 322 crore ( previous year ` 453 crore ).

 

1.   HIGHLIGHTS

 

ü Standalone revenue `650 crore v/s `1076 crore

ü Standalone Profit After Tax `567 crore v/s `1000 crore *

ü Consolidated Profit After Tax `1679 crore v/s `2323 crore

* due to lower profit on sale of investments, at `86 crore v/s ` 707 crore during previous year

 

 

2.   CONSOLIDATED RESULTS

 

BHIL is essentially a holding & investment company. The consolidated financial results of BHIL include results of following companies:

 

Name of the company

% shareholding and voting power of BHIL

Consolidated as

a. Bajaj Auto Limited (BAL)*

31.49%

Associate

b. Bajaj Finserv Limited (BFS)*

39.15%

Associate

c. Bajaj Auto Holdings Limited

100%

Subsidiary

d. Maharashtra Scooters Limited

24%

Joint venture

    *Consolidated Results

 

During 2011-12, each of the underlying group companies performed well, given the challenging environment and difficult times for the businesses.

ü Bajaj Auto (consolidated) net profit (before exceptional items) - 19%; ` 3136 crore as against           ` 2628 crore in the previous year.

ü Bajaj Finserv (consolidated) net profit of (before exceptional items) - 37%` 1338 crore as against ` 976 crore in the previous year.

 

Summary of consolidated financials of BHIL are as under:

` in crore

2011-12

2010-11

Net sales & other income

301

900

Income from associates after tax

1481

1504

Profit after tax

1679

2323

 

3.   STANDALONE RESULTS

 

BHIL is a non-banking financial company which is primarily an investment company. Income of the company consists of interest on securities, dividend income and profit on sale of investments. Due to slowdown in market and depressed equity market conditions, opportunities for booking profits on investments were limited during the year under review, hence, profit on sale of investments for the year dropped from ` 707 crore to ` 86 crore. This, in turn, is reflected in lower profit after tax for the year.

Details of income from operations are given below:

` in crore

2011-12

2010-11

Dividend :



    - From BAL & BFS

      371

      187

    - From others

        40

        38

Profit on sale of investments (net)

86

707

Interest & other income

        153

        144

Total revenue

650

1076

Other expenses

8

7

Profit before tax

642

1069

Profit after tax

567

1000

 

4.     INVESTMENTS

The cost and market value of the investment portfolio is as under:

` in crore

31-Mar-12

31-Mar-11

Cost

Market Value

Cost

Market Value

Equity shares - BAL & BFS

662

18761

632

16268

Equity shares  -  Others

1753

2686

1435

2943

Fixed income securities

2078

2072

2506

2499

Fixed deposits

250

250

170

170

Total

4743

23769

4743

21880

 

 

 

 

 

Sanjiv Bajaj                     

Managing Director

17th May 2012

 

Bajaj Holdings & Investment Limited

Mumbai - Pune Road, Akurdi, Pune 411 035

CONSOLIDATED FINANCIAL RESULTS

(` In Crore)


Particulars

 Quarter ended

 Year ended




31.03.2012

31.03.2011

31.03.2012

31.03.2011



(Unaudited)

(Audited)

(Audited)

(Audited)







1

Net Sales and Income from operations

                63.81

              60.28

            295.31

            898.14







2

Expenses






(a) Cost of materials consumed

                  0.18

                0.18

                0.59

                0.63


(b) Changes in inventories of finished goods, work-in-progress and stock-in-trade

                  0.08

                   -  

                0.06

                0.01


(c) Employee benefits expense

                  0.02

                1.67

                4.23

                5.42


(d) Depreciation

                  0.12

                0.12

                0.47

                0.48


(e) Other expenses

                  2.47

                0.67

                6.73

                5.60


Total expenses

                  2.87

                2.64

              12.08

              12.14







3

Profit from operations before other income, finance costs and exceptional items (1-2)

                60.94

              57.64

            283.23

            886.00







4

Other Income

                  3.43

                0.83

                5.72

                2.27







5

Profit from ordinary activities before finance costs and exceptional items (3+4)

                64.37

              58.47

            288.95

            888.27







6

Finance costs

                     -  

                   -  

                0.01

                   -  







7

Profit from ordinary activities after finance costs but before exceptional items (5-6)

                64.37

              58.47

            288.94

            888.27







8

Exceptional item






Share of expenditure incurred for Voluntary Retirement of Employees of joint venture

                  5.71

                   -  

              14.01

                   -  







9

Profit from ordinary activities before tax (7+8)

 58.66

 58.47

 274.93

 888.27







10

Tax expense

                17.70

              25.19

              76.46

              72.27







11

Net Profit from ordinary activities after tax (9-10)

 40.96

 33.28

 198.47

 816.00







12

Add: Share of Profit after tax on Investments in Associates

 588.01

 802.36

 1,480.70

 1,504.23







13

Less: Minority Interest in Net Income of subsidiaries

                     -  

                   -  

                   -  

                   -  







14

Net Profit after taxes, minority interest and share of profit / (loss) of associates (11+12-13)

 628.97

 835.64

 1,679.17

 2,320.23







15

Tax (debits)/credits pertaining to earlier years

                     -  

                0.15

                   -  

                2.53







16

Net Profit / (Loss) for the period (14+15)

              628.97

            835.79

         1,679.17

         2,322.76













17

Earning Per Share before and after extraordinary items






Basic Earnings Per Share ( `) (not annualised)

                  56.5

                75.9

              150.9

              217.0


Diluted Earnings Per Share (`) (not annualised)

                  56.5

                75.5

              150.9

              213.5

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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