REG - Bajaj Hldgs & Inv - 1st Quarter Results <Origin Href="QuoteRef">BJAT.NS</Origin>

Bajaj Holdings And InvestmentAnnouncement

02/08/2016 07:05

RNS Number : 9227F
Bajaj Holdings & Investment Ltd
02 August 2016
Bajaj Holdings & Investment Limited
CIN : L35911PN1945PLC004656
Registered Office : 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 2016









(` In Crore)

Particulars
Quarter ended
Year ended


30.06.2016
31.03.2016
30.06.2015
31.03.2016


(Unaudited)
(Unaudited)
(Unaudited)
(Audited)






1 
Income from operations
 116.94 
 583.96 
 161.65 
 1,394.51 






2 
Expenses





(a) Employee benefits expense
 4.54 
 3.71 
 3.54 
 14.43 

(b) Depreciation and amortisation
 1.32 
 1.34 
 1.32 
 5.30 

(c) Other expenses (See note 1)
 4.32 
 6.45 
 6.45 
 22.99 

Total expenses
 10.18 
 11.50 
 11.31 
 42.72 






3 
Profit from operations before other income, finance costs and exceptional items (1-2)
 106.76 
 572.46 
 150.34 
 1,351.79 






4 
Other income
 1.81 
 3.12 
 1.66 
 6.77 






5 
Profit from ordinary activities before finance costs and exceptional items (3+4)
 108.57 
 575.58 
 152.00 
 1,358.56 






6 
Finance costs
 - 
 - 
 - 
 - 






7 
Profit from ordinary activities after finance costs but before exceptional items (5-6)
 108.57 
 575.58 
 152.00 
 1,358.56 






8 
Exceptional items
 - 
 - 
 - 
 - 






9 
Profit from ordinary activities before tax (7+8)
 108.57 
 575.58 
 152.00 
 1,358.56 






10 
Tax expense
 22.84 
 19.65 
 28.92 
 88.05 






11 
Net profit from ordinary activities after tax (9-10)
 85.73 
 555.93 
 123.08 
 1,270.51 






12 
Paid-up equity share capital (Face value of ` 10)
 111.29 
 111.29 
 111.29 
 111.29 






13 
Reserves excluding revaluation reserves



 6,686.76 






14 
Basic and diluted earnings per share (`) 





before and after extraordinary items (not annualised) 
 7.7 
 50.0 
 11.1 
 114.2 






Notes :










1.
Other expenses includes following - 





(` In Crore)

Particulars
Quarter ended
Year ended


30.06.2016
31.03.2016
30.06.2015
31.03.2016

Business support service charges
 1.92 
 1.25 
 1.29 
 
 4.93 

Subscription and membership expenses
 - 
 0.01 
 - 
 
 1.35 

CSR expenditure
 - 
 3.81 
 2.00 
 
 6.91 






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 Extracts of the Unaudited/Audited Consolidated Financial Results, pursuant to option made available as per Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. These standalone 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.
` 1 crore is equal to ` 10 million.
6.
The above results have been reviewed by the Audit Committee, approved by the Board of Directors in the meeting held on 27 July 2016 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 : 27 July 2016



Chairman
Bajaj Holdings & Investment Limited
CIN : L35911PN1945PLC004656
Registered Office : 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 2016









(` In Crore)

Particulars
Quarter ended
Year ended


30.06.2016
31.03.2016
30.06.2015
31.03.2016


(Unaudited)
(Unaudited)
(Unaudited)
(Audited)






1 
Net Sales and Income from operations
 118.07 
 121.65 
 163.35 
 469.84 






2 
Expenses





(a) Cost of materials consumed
 0.24 
 0.19 
 0.31 
 0.92 

(b) Changes in inventories of finished goods, work-in-progress and stock-in-trade
 (0.22)
 0.02 
 (0.07)
 0.19 

(c) Employee benefits expense
 5.01 
 4.07 
 3.91 
 16.35 

(d) Depreciation and amortisation
 1.35 
 1.39 
 1.37 
 5.48 

(e) Other expenses
 4.51 
 6.77 
 6.64 
 23.85 

Total expenses
 10.89 
 12.44 
 12.16 
 46.79 






3 
Profit from operations before other income, finance costs and exceptional items (1-2)
 107.18 
 109.21 
 151.19 
 423.05 






4 
Other income
 1.85 
 3.14 
 1.71 
 6.85 






5 
Profit from ordinary activities before finance costs and exceptional items (3+4)
 109.03 
 112.35 
 152.90 
 429.90 






6 
Finance costs
 - 
 - 
 - 
 - 






7 
Profit from ordinary activities after finance costs but before exceptional items (5-6)
 109.03 
 112.35 
 152.90 
 429.90 






8 
Exceptional items
 - 
 - 
 - 
 - 






9 
Profit from ordinary activities before tax (7-8)
 109.03 
 112.35 
152.90 
429.90 






10 
Tax expense
 22.88 
 19.71 
 29.04 
 88.31 






11 
Net profit from ordinary activities after tax (9-10)
 86.15 
 92.64 
123.86 
341.59 






12 
Add: Share of profit after tax of associates
 479.69 
 471.14 
 489.30 
 1,923.65 






13 
Less: Minority interest in net income of subsidiaries
 - 
 - 
 - 
 - 






14 
Net profit after tax, minority interest and share of profit of associates (11+12-13)
 565.84 
 563.78 
 613.16 
 2,265.24 






15 
Paid-up equity share capital (Face value of ` 10)
 111.29 
 111.29 
 111.29 
 111.29 






16 
Reserves excluding revaluation reserves



 15,182.03 






17 
Basic and diluted earnings per share (`) 





before and after extraordinary items (not annualised) 
 50.8 
 50.7 
 55.1 
 203.5 






Notes :




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



Name of the company 

% shareholding and voting power of Bajaj Holdings & Investment Limited and its subsidiary
Consolidated as
a.
Bajaj Auto Limited 

31.49%
Associate
b.
Bajaj Finserv Limited 

39.29%
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 Extracts of the Unaudited/Audited Consolidated Financial Results, pursuant to option made available as per Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The standalone 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


30.06.2016
31.03.2016
30.06.2015
31.03.2016

Income from operations and other income
 118.75 
 587.08 
 163.31 
 
 1,401.28 
 
Profit before tax
 108.57 
 575.58 
 152.00 
 
 1,358.56 

Profit after tax
 85.73 
 555.93 
 123.08 
 
 1,270.51 


4.
Figures for previous year / period have been regrouped wherever necessary.
5.
` 1 crore is equal to ` 10 million.
6.
The above results have been reviewed by the Audit Committee, approved by the Board of Directors in the meeting held on 27 July 2016 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 : 27 July 2016



Chairman
Press release
Results - Q1 FY17 
A meeting of the Board of Directors of Bajaj Holdings & Investment Limited (BHIL) was held today to consider and approve the results for Q1 FY17.
1. Highlights - Q1 FY17 v/s Q1 FY16
 Consolidated profit after tax - ` 566 crore v/s ` 613 crore 
 Standalone profit after tax - ` 86 crore v/s ` 123 crore 
2. Consolidated results
Bajaj Holdings & Investment Limited, as its name suggests, is a holding company in addition to being an investment company. As a holding company, it holds strategic stakes of 31.49% in Bajaj Auto Ltd. (BAL), 39.29% in Bajaj Finserv Ltd. (BFS) and 24% in Maharashtra Scooters Ltd. (MSL). 
As such, consolidated results of BAL and BFS are consolidated in BHIL's results.
Bajaj Auto consolidates its 48% stake in KTM AG, Austria. As per accounting standards, BHIL has to consolidate old Indian GAAP (not Ind AS) financials of BAL in its consolidated results. 
Bajaj Finserv's consolidated results include results of its lending arm Bajaj Finance Limited (BFL) and its two insurance subsidiaries - Bajaj Allianz Life Insurance Company Limited (BALIC) and Bajaj Allianz General Insurance Company Limited (BAGIC).
 BAL'sprofit after tax (consolidated) as considered for consolidation stood at` 853 crore in Q1 FY17 v/s ` 971 crore in Q1 FY16 at an industry leading EBITDA margin of 21.2%. 
 BFS (consolidated) profit after taxincreased by 15% to ` 538 crore in Q1 FY17 v/s ` 467 crore in Q1 FY16. 
 As a result, BHIL's consolidated profit after tax for Q1 FY17 stood at ` 566 crore v/s ` 613 crore in Q1 FY16.
Summary of consolidated financials of BHIL is as under: 
` In Crore
Q1 FY17
Q1 FY16
FY16
Total revenue
120
165
477
Share of profit after tax of associates
480
489
1,924
Profit after tax
566
613
2,265
3. Standalone results
BHIL is essentially an investment company. Its focus is on earning income through dividends, interest and profits on investments held. It is largely dependent on the stock and money markets for its income. 
Details of standalone financials are given below:
` In Crore
Q1 FY17
Q1 FY16
FY16
Dividend :



 - From BAL, BFS and MSL
-
-
950
 - From others
1
26
68
Profit on sale of investments (net)
51
64
114
Interest on investments and other income
63
69
253
Rent from investment property
4
4
16
Total revenue
119
163
1,401
Total expenses
10
11
42
Profit before tax
109
152
1,359
Profit after tax
86
123
1,271
4. Investments
The cost and market value of the investment portfolio is as under:
` In Crore
30-Jun-16
31-Mar-16
Cost
Market value
Cost
Market value
Strategic equity investments in group companies
1,188
39,876
1,188
33,356
Equity shares - others
1,809
2,760
1,911
2,705
Fixed income securities
3,616
3,681
3,415
3,444
Investment property
200
200
201
201
Total
6,813
46,517
6,715
39,706
As against a book value of ` 619 per share,NAV of the above investments was ` 4,180 per share as on 30 June 2016.
Sanjiv Bajaj 
Managing Director
27 July 2016
Annexure - Consolidated results of BHIL



(` In Crore)
Q1 FY17
Q1 FY16
FY16





1 
Net Sales and Income from operations
 118.07 
 163.35 
 469.84 





2 
Expenses




(a) Cost of materials consumed
 0.24 
 0.31 
 0.92 

(b) Changes in inventories of finished goods, work-in-progress and stock-in-trade
 (0.22)
 (0.07)
 0.19 

(c) Employee benefits expense
 5.01 
 3.91 
 16.35 

(d) Depreciation and amortisation
 1.35 
 1.37 
 5.48 

(e) Other expenses
 4.51 
 6.64 
 23.85 

Total expenses
 10.89 
 12.16 
 46.79 





3 
Profit from operations before other income, finance costs and exceptional items (1-2)
 107.18 
 151.19 
 423.05 





4 
Other income
 1.85 
 1.71 
 6.85 





5 
Profit from ordinary activities before finance costs and exceptional items (3+4)
 109.03 
 152.90 
 429.90 





6 
Finance costs
 - 
 - 
 - 





7 
Profit from ordinary activities after finance costs but before exceptional items (5-6)
 109.03 
 152.90 
 429.90 





8 
Exceptional items
 - 
 - 
 - 





9 
Profit from ordinary activities before tax (7-8)
 109.03 
152.90 
429.90 





10 
Tax expense
 22.88 
 29.04 
 88.31 





11 
Net profit from ordinary activities after tax (9-10)
 86.15 
123.86 
341.59 





12 
Add: Share of profit after tax of associates
 479.69 
 489.30 
 1,923.65 





13 
Less: Minority interest in net income of subsidiaries
 - 
 - 
 - 





14 
Net profit after tax, minority interest and share of profit of associates (11+12-13)
 565.84 
 613.16 
 2,265.24 





15 
Basic and diluted earnings per share (`) 




 before and after extraordinary items (not annualised) 
 50.8 
 55.1 
 203.5 






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