REG - Bajaj Hldgs & Inv - 1st Quarter Results <Origin Href="QuoteRef">BJAT.NS</Origin> - Part 1
06/09/2014 20:41
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RNS Number : 4494N
Bajaj Holdings & Investment Ltd
28 July 2014
Bajaj Holdings & Investment Limited
CIN : L35911PN1945PLC004656
Mumbai - Pune Road, Akurdi, Pune 411 035
Website : www.bhil.in ; e-mail : investors@bhil.in ; Telephone : +91 20 27472851 ; Fax : +91 20 27407380
Statement of standalone unaudited financial results for the quarter ended 30 June 2014
(Rs. In Crore)
Particulars Quarter ended Year ended
30.06.2014 31.03.2014 30.06.2013 31.03.2014
(Unaudited) (Unaudited) (Unaudited) (Audited)
1 Income from operations 167.50 61.96 140.07 799.61
2 Expenses
(a) Employee benefits expense 1.28 1.37 1.27 5.14
(b) Depreciation and amortisation 1.26 1.40 0.85 4.57
(c) Other expenses (See note 1) 2.34 5.16 2.83 15.99
Total expenses 4.88 7.93 4.95 25.70
3 Profit from operations before other income, finance costs and exceptional items (1-2) 162.62 54.03 135.12 773.91
4 Other income 1.80 31.80 0.08 39.86
5 Profit from ordinary activities before finance costs and exceptional items (3+4) 164.42 85.83 135.20 813.77
6 Finance costs - - - -
7 Profit from ordinary activities after finance costs but before exceptional items (5-6) 164.42 85.83 135.20 813.77
8 Exceptional items - - - -
9 Profit from ordinary activities before tax (7+8) 164.42 85.83 135.20 813.77
10 Tax expense 18.13 17.61 24.24 85.14
11 Net Profit from ordinary activities after tax (9-10) 146.29 68.22 110.96 728.63
12 Tax (debits)/credits pertaining to earlier years 1.32 4.72 - 4.72
10 Net Profit / (Loss) for the period (11+12) 147.61 72.94 110.96 733.35
14 Paid up Equity Share Capital (Face value of ` 10) 111.29 111.29 111.29 111.29
15 Reserves excluding Revaluation Reserves 5,418.34
## Basic and Diluted Earnings Per Share ( `) (not annualised)
before and after extraordinary items 13.3 6.6 10.0 65.9
Particulars As at
30.06.2014 31.03.2014 30.06.2013 31.03.2014
A Particulars of shareholding
1 Public shareholding @
Number of shares 66,588,070 66,588,070 66,588,070 66,588,070
Percentage of shareholding 59.83% 59.83% 59.83% 59.83%
2 Promoters and Promoter Group Shareholding
(a) Pledged / Encumbered
Number of shares - - - -
Percentage of shares (as a % of the total shareholding of promoters and promoter group) - - - -
Percentage of shares (as a % of the total share capital of the Company) - - - -
(b) Non-encumbered
Number of shares 44,705,440 44,705,440 44,705,440 44,705,440
Percentage of shares (as a % of the total shareholding of promoters and promoter group) 100.00% 100.00% 100.00% 100.00%
Percentage of shares (as a % of the total share capital of the Company) 40.17% 40.17% 40.17% 40.17%
@ including equity shares represented by GDRs.
Notes :
1. Other expenses includes following -
(Rs. In Crore)
Particulars Quarter ended Year ended
30.06.2014 31.03.2014 30.06.2013 31.03.2014
Printing charges 0.44 - 0.40 0.40
Rates and taxes 0.13 2.78 0.14 3.10
Business support service charges 0.74 1.04 0.62 2.92
Provision for diminution in current investments - - 0.43 3.00
Brokerage on letting of investment property - - - 2.30
2. 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.
3. 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).
4. Figures for previous year / period have been regrouped wherever necessary.
5. Rs. 1 crore is equal to Rs. 10 million.
6. The above results have been reviewed by the Audit Committee, approved by the Board of Directors in the meeting held on 17 July 2014 and subjected to a limited review by the statutory auditors.
By order of the Board of Directors
For Bajaj Holdings & Investment Limited
Pune Rahul Bajaj
Date : 17 July 2014 Chairman
Bajaj Holdings & Investment Limited
CIN : L35911PN1945PLC004656
Mumbai - Pune Road, Akurdi, Pune 411 035
Website : www.bhil.in ; e-mail : investors@bhil.in ; Telephone : +91 20 27472851 ; Fax : +91 20 27407380
Statement of consolidated unaudited financial results for the quarter ended 30 June 2014
(Rs. In Crore)
Particulars Quarter ended Year ended
30.06.2014 31.03.2014 30.06.2013 31.03.2014
(Unaudited) (Unaudited) (Unaudited) (Audited)
1 Net Sales and Income from operations 172.28 63.21 141.36 386.70
2 Expenses
(a) Cost of materials consumed 0.18 0.15 0.09 0.43
(b) Changes in inventories of finished goods, work-in-progress and stock-in-trade (0.02) - (0.01) 0.03
(c) Employee benefits expense 1.61 1.69 1.59 6.43
(d) Depreciation and amortisation 1.35 .45 0.91 4.78
(e) Other expenses 2.56 5.30 2.93 6.48
Total expenses 5.68 8.59 5.51 28.15
3 Profit from operations before other income, finance costs and exceptional items (1-2) 166.60 54.62 135.85 358.55
4 Other Income 2.26 32.13 0.08 41.02
5 Profit from ordinary activities before finance costs and exceptional items (3+4) 168.86 86.75 135.93 399.57
6 Finance costs - - - -
7 Profit from ordinary activities after finance costs but before exceptional items (5-6) 168.86 86.75 135.93 399.57
8 Exceptional items - - - -
9 Profit from ordinary activities before tax (7-8) 168.86 86.75 135.93 399.57
10 Tax expense 19.03 7.81 24.41 85.84
11 Net Profit from ordinary activities after tax (9-10) 149.83 68.94 111.52 313.73
12 Add : Tax (debits)/credits pertaining to earlier years 1.32 4.72 - 4.72
13 Add: Share of Profit after tax on Investments in Associates 371.21 517.00 331.66 1,669.11
14 Less: Minority Interest in Net Income of subsidiaries - - - -
## Net Profit / (Loss) for the period (11+12+13-14) 522.36 590.66 443.18 1,987.56
16 Paid up Equity Share Capital (Face value of ` 10) 111.29 111.29 111.29 111.29
17 Reserves excluding Revaluation Reserves 11,887.69
## Basic and Diluted Earnings Per Share ( `) (not annualised)
before and after extraordinary items 46.9 53.1 39.8 178.6
Particulars As at
30.06.2014 31.03.2014 30.06.2013 31.03.2014
A Particulars of shareholding
1 Public shareholding @
Number of shares 66,588,070 66,588,070 66,588,070 66,588,070
Percentage of shareholding 59.83% 59.83% 59.83% 59.83%
2 Promoters and Promoter Group Shareholding
(a) Pledged / Encumbered
Number of shares - - - -
Percentage of shares (as a % of the total shareholding of promoters and promoter group) - - - -
Percentage of shares (as a % of the total share capital of the Company) - - - -
(b) Non-encumbered
Number of shares 44,705,440 44,705,440 44,705,440 44,705,440
Percentage of shares (as a % of the total shareholding of promoters and promoter group) 100.00% 100.00% 100.00% 100.00%
Percentage of shares (as a % of the total share capital of the Company) 40.17% 40.17% 40.17% 40.17%
@ including equity shares represented by GDRs.
Quarter ended
30.06.2014
B Investor complaints
Pending at the beginning of the quarter Nil
Received during the quarter Nil
Disposed of during the quarter Nil
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 39.16% Associate
c. Bajaj Auto Holdings Limited 100% Subsidiary
d. Maharashtra Scooters Limited 24% Joint venture
2. 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.
3. 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:
(Rs. In Crore)
Particulars Quarter ended Year ended
30.06.2014 31.03.2014 30.06.2013 31.03.2014
Income from operations & other income 169.30 93.76 140.15 839.47
Profit before tax 164.42 85.83 135.20 813.77
Profit after tax 147.61 72.94 110.96 733.35
4. Figures for previous year / period have been regrouped wherever necessary.
5. Rs.1 crore is equal to Rs. 10 million.
6. The above results have been reviewed by the Audit Committee, approved by the Board of Directors in the meeting held on 17 July 2014 and subjected to a limited review by the statutory auditors.
By order of the Board of DirectorsFor Bajaj Holdings & Investment Limited
PuneDate : 17 July 2014 Rahul BajajChairman
Bajaj Holdings & Investment Limited
Press release
Financial results - Q1 FY15
A meeting of the Board of Directors of Bajaj Holdings & Investment Limited
(BHIL) was held today to consider and approve the results for Q1 FY15.
1. Highlights - Q1 FY15 v/s Q1 FY14
ü Consolidated profit after tax - Rs. 522 crore v/s Rs. 443 crore -
18%
ü Standalone profit after tax - Rs. 148 crore v/s Rs.111 crore -
33%
2. Consolidated results
BHIL, with a sizeable pool of cash and cash equivalents, is essentially an
investment company, holding as on 30 June 2014, strategic stakes of 31.49%
in Bajaj Auto Limited (BAL) and 39.16% in Bajaj Finserv Limited (BFS), the
results of which are consolidated with BHIL.
Bajaj Finserv's consolidated results include results of its lending arm Bajaj
Finance Limited and its two insurance subsidiaries - Bajaj Allianz Life
Insurance Company Limited and Bajaj Allianz General Insurance Company
Limited.
Summary of consolidated financials of BHIL is as under:
Rs. In Crore Q1 FY15 Q1 FY14 FY14
Net sales and other income 175 141 428
Income from associates after tax 371 332 1,669
Profit after tax 522 443 1,988
1,988
3. Standalone results
This quarter provided an opportunity to the Company to book profits on some of
its investments.
Profit on sale of investments (net) during Q1 FY15 was Rs.88 crore v/s Rs 64
crore during Q1 FY14.
Details of standalone financials are given below:
Rs. In Crore Q1 FY15 Q1 FY14 FY14
Dividend :
- From BAL, BFS and MSL - - 425
- From others 24 23 55
Profit on sale of investments (net) 88 64 104
Interest and other income 53 53 245
Rent from investment property 4 - 10
Total revenue 169 140 839
Total expenses 5 5 25
Profit before tax 164 135 814
Profit after tax 148 111 733
4. Investments
The cost and market value of the investment portfolio is as under:
Rs. In Crore 30-Jun-14 31-Mar-14
Cost Market value Cost Market value
Equity shares - BAL, BFS and MSL 1,030 27,109 1,030 24,021
Equity shares - others 1,727 3,563 1,814 3,136
Fixed income securities 2,591 2,654 2,322 2,340
Fixed deposits 240 240 240 240
Total 5,588 33,566 5,406 29,737
NAV of the above investments was Rs. 3,016 per share as on 30 June 2014.
Sanjiv Bajaj
Managing Director
17 July 2014
Annexure - Consolidated results of BHIL
(Rs. In Crore) Q1 FY15 Q1 FY14 FY14
1 Net Sales and Income from operations 172.28 141.36 386.70
2 Expenses
(a) Cost of materials consumed 0.18 0.09 0.43
(b) Changes in inventories of finished goods, work-in-progress and stock-in-trade (0.02) (0.01) 0.03
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