REG - Bajaj Hldgs & Inv - 3rd Quarter Results <Origin Href="QuoteRef">BJAT.NS</Origin> - Part 1

Bajaj Holdings And InvestmentAnnouncement

11/02/2016 08:20

RNS Number : 7656O
Bajaj Holdings & Investment Ltd
11 February 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 and nine months ended 31 December 2015











(` In Crore)

Particulars
Quarter ended
Nine months ended
Year ended


31.12.2015
30.09.2015
31.12.2014
31.12.2015
31.12.2014
31.03.2015


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








1 
Income from operations
 73.36 
 575.54 
 77.42 
 810.55 
 890.85 
 972.22 








2 
Expenses







(a) Employee benefits expense
 3.59 
 3.59 
 1.59 
 10.72 
 4.75 
 6.46 

(b) Depreciation and amortisation
 1.32 
 1.32 
 1.29 
 3.96 
 3.83 
 5.16 

(c) Other expenses (See note 1)
 5.61 
 4.48 
 20.04 
 16.54 
 25.10 
 30.34 

Total expenses
 10.52 
 9.39 
 22.92 
 31.22 
 33.68 
 41.96 








3 
Profit from operations before other income, finance costs and exceptional items (1-2)
 62.84 
 566.15 
 54.50 
 779.33 
 857.17 
 930.26 








4 
Other income
 0.93 
 1.06 
 0.75 
 3.65 
 33.48 
 34.24 








5 
Profit from ordinary activities before finance costs and exceptional items (3+4)
 63.77 
 567.21 
 55.25 
 782.98 
 890.65 
 964.50 








6 
Finance costs
 - 
 - 
 - 
 - 
 - 
 - 








7 
Profit from ordinary activities after finance costs but before exceptional items (5-6)
 63.77 
 567.21 
 55.25 
 782.98 
 890.65 
 964.50 








8 
Exceptional items
 - 
 - 
 - 
 - 
 - 
 - 








9 
Profit from ordinary activities before tax (7+8)
 63.77 
 567.21 
 55.25 
 782.98 
 890.65 
 964.50 








10 
Tax expense
 18.50 
 20.98 
 21.54 
 68.40 
 65.49 
 79.58 








11 
Net profit from ordinary activities after tax (9-10)
 45.27 
 546.23 
 33.71 
 714.58 
 825.16 
 884.92 








12 
Tax (debits)/credits pertaining to earlier years
 - 
 - 
 - 
 - 
 0.81 
 (17.19)








13 
Net profit for the period (11+12)
 45.27 
 546.23 
 33.71 
 714.58 
 825.97 
 867.73 








14 
Paid up equity share capital (Face value of ` 10)
 111.29 
 111.29 
 111.29 
 111.29 
 111.29 
 111.29 








15 
Reserves excluding revaluation reserves





 5,851.58 








16 
Basic and diluted earnings per share (`) 







before and after extraordinary items (not annualised) 
 4.1 
 49.1 
 3.0 
 64.2 
 74.2 
 78.0 








Notes :














1.
Other expenses includes following - 







(` In Crore)

Particulars
Quarter ended
Nine months ended
Year ended


31.12.2015
30.09.2015
31.12.2014
31.12.2015
31.12.2014
31.03.2015

Business support service charges
1.23
1.16
0.77
3.68
2.25
3.21

Provision for diminution in investments
-
-
15.00
-
15.00
15.00

Subscription and membership expenses
1.33
0.01
-
1.34
0.01
0.01

CSR expenditure
0.30
0.80
2.50
3.10
2.50
4.00








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 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 4 February 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 : 4 February 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 and nine months ended 31 December 2015













(` In Crore)

Particulars
Quarter ended
Nine months ended
Year ended


31.12.2015
30.09.2015
31.12.2014
31.12.2015
31.12.2014
31.03.2015


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








1 
Net Sales and Income from operations
 74.84 
 110.00 
 83.06 
 348.19 
 439.95 
 523.93 








2 
Expenses







(a) Cost of materials consumed
 0.18 
 0.24 
 0.24 
 0.73 
 0.63 
 1.02 

(b) Changes in inventories of finished goods, work-in-progress and stock-in-trade
 0.11 
 0.13 
 (0.11)
 0.17 
 (0.12)
 (0.18)

(c) Employee benefits expense
 4.00 
 4.37 
 1.95 
 12.28 
 5.82 
 7.87 

(d) Depreciation and amortisation
 1.36 
 1.36 
 1.39 
 4.09 
 4.51 
 5.93 

(e) Other expenses
 5.81 
 4.63 
 20.18 
 17.08 
 25.58 
 31.00 

Total expenses
 11.46 
 10.73 
 23.65 
 34.35 
 36.42 
 45.64 








3 
Profit from operations before other income, finance costs and exceptional items (1-2)
 63.38 
 99.27 
 59.41 
 313.84 
 403.53 
 478.29 








4 
Other income
 0.92 
 1.08 
 0.79 
 3.71 
 34.11 
 34.90 








5 
Profit from ordinary activities before finance costs and exceptional items (3+4)
 64.30 
 100.35 
 60.20 
 317.55 
 437.64 
 513.19 








6 
Finance costs
 - 
 - 
 - 
 - 
 - 
 - 








7 
Profit from ordinary activities after finance costs but before exceptional items (5-6)
 64.30 
 100.35 
 60.20 
 317.55 
 437.64 
 513.19 








8 
Exceptional items
 - 
 - 
 - 
 - 
 - 
 - 








9 
Profit from ordinary activities before tax (7-8)
 64.30 
 100.35 
60.20 
317.55 
437.64 
 513.19 








10 
Tax expense
 18.55 
 21.01 
 22.47 
 68.60 
 67.39 
 81.54 








11 
Net profit from ordinary activities after tax (9-10)
 45.75 
 79.34 
37.73 
248.95 
370.25 
 431.65 








12 
Add : Tax (debits)/credits pertaining to earlier years
 - 
 - 
 - 
 - 
 0.81 
 (17.82)








13 
Add: Share of profit after tax on investments in associates
 474.76 
 488.45 
 434.13 
 1,452.51 
 1,133.20 
 1,615.41 








14 
Less: Minority interest in net income of subsidiaries
 - 
 - 
 - 
 - 
 - 
 - 








15 
Net profit after taxes, minority interest and share of profit of associates (11+12+13-14)
 520.51 
 567.79 
 471.86 
 1,701.46 
 1,504.26 
 2,029.24 








16 
Paid up equity share capital (Face value of ` 10)
 111.29 
 111.29 
 111.29 
 111.29 
 111.29 
 111.29 








17 
Reserves excluding revaluation reserves





 13,281.94 








18 
Basic and diluted earnings per share (`) 







before and after extraordinary items (not annualised) 
 46.8 
 51.0 
 42.4 
 152.9 
 135.2 
 182.3 








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 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
Nine months ended
Year ended


31.12.2015
30.09.2015
31.12.2014
31.12.2015
31.12.2014
31.03.2015

Income from operations and other income
 74.29 
 576.60 
 78.17 
 814.20 
 924.33 
 
1,006.46

Profit before tax
 63.77 
 567.21 
 55.25 
 782.98 
 890.65 
 
964.50

Profit after tax
 45.27 
 546.23 
 33.71 
 714.58 
 825.97 
 
867.73


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 4 February 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 : 4 February 2016





Chairman
Press release
Financial results - Q3 FY16 
A meeting of the Board of Directors of Bajaj Holdings & Investment Limited (BHIL) was held today to consider and approve the results for Q3 FY16.
1. Highlights 
Q3 FY16 v/s Q3 FY15
 Consolidated profit after tax - ` 521 crore v/s` 472 crore - 10%
 Standalone profit after tax - ` 45 crore v/s ` 34 crore - 32%
9M FY16 v/s 9M FY15
 Consolidated profit after tax - ` 1,701 crore v/s ` 1,504 crore - 13%
 Standalone profit after tax - ` 715 crore v/s ` 826 crore 
2. Consolidated results
BHIL is essentially an investment company. As on 31 December 2015, the Company held 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.
The strong performance of the underlying companies is reflected in the consolidated results of BHIL.
 BAL again delivered strong results with a quarterly profit (standalone) of ` 901 crore in Q3 FY16 as against ` 861 crore in Q3 FY15. It recorded operating EBITDA of ` 1,234 crore at an industry leading EBITDA margin of 22.0%. 
 BFS (consolidated) net profit increased by 26% from ` 347 crore to` 437 crore in Q3 FY16. 
Summary of consolidated financials of BHIL is as under: 
` In Crore
Q3 FY16
Q3 FY15
9M FY16
9M FY15
FY15
Net sales and other income
76
84
352
474
559
Income from associates after tax
475
434
1,453
1,133
1,615
Profit after tax
521
472
1,701
1,504
2,029
3. Standalone results
Details of standalone financials are given below:
` In Crore
Q3 FY16
Q3 FY15
9M FY16
9M FY15
FY15
Dividend :





 - From BAL, BFS and MSL
-
-
475
473
473
 - From others
3
1
52
50
56
Profit on sale of investments (net)
6
13
82
192
214
Interest on investments and other income
61
60
193
167
217
Interest on income tax refund
-
-
-
30
30
Rent from investment property
4
4
12
12
16
Total revenue
74
78
814
924
1,006
Total expenses
10
23
31
33
41
Profit before tax
64
55
783
891
965
Profit after tax
45
34
715
826
868
4. Investments
The cost and market value of the investment portfolio is as under:
` In Crore
31-Dec-15
31-Mar-15
Cost
Market value
Cost
Market value
Strategic equity investments in group companies
1,188
36,351
1,188
27,964
Equity shares - others
2,005
3,035
1,697
3,168
Fixed income securities
3,095
3,159
3,122
3,227
Investment property
203
203
206
206
Total
6,491
42,748
6,213
34,565
As against a book value of ` 600 per share, NAV of the above investments was ` 3,841 per share as on 31 December 2015.
Sanjiv Bajaj 
Managing Director
4 February 2016
Annexure - Consolidated results of BHIL



















(` In Crore)

Q3 FY16
Q3 FY15
9M FY16
9M FY15
FY15







1 
Net Sales and Income from operations
 74.84 
 83.06 
 348.19 
 439.95 
 523.93 







2 
Expenses






(a) Cost of materials consumed
 0.18 
 0.24 
 0.73 
 0.63 
 1.02 

(b) Changes in inventories of finished goods, work-in-progress and stock-in-trade
 0.11 
 (0.11)
 0.17 
 (0.12)
 (0.18)

(c) Employee benefits expense
 4.00 
 1.95 
 12.28 
 5.82 
 7.87 

(d) Depreciation and amortisation
 1.36 
 1.39 
 4.09 
 4.51 
 5.93 

(e) Other expenses
 5.81 
 20.18 
 17.08 
 25.58 
 31.00 

Total expenses
 11.46 
 23.65 
 34.35 
 36.42 
 45.64 







3 
Profit from operations before other income, finance costs and exceptional items (1-2)
 63.38 
 59.41 
 313.84 
 403.53 
 478.29 







4 
Other income
 0.92 
 0.79 
 3.71 
 34.11 
 34.90 







5 
Profit from ordinary activities before finance costs and exceptional items (3+4)
 64.30 
 60.20 
 317.55 
 437.64 
 513.19 







6 
Finance costs
 - 
 - 
 - 
 - 
 - 







7 
Profit from ordinary activities after finance costs but before exceptional items (5-6)
 64.30 
 60.20 
 317.55 
 437.64 
 513.19 







8 
Exceptional items
 - 
 - 
 - 
 - 
 - 







9 
Profit from ordinary activities before tax (7-8)
 64.30 
60.20 
317.55 
437.64 
 513.19 







10 
Tax expense
 18.55 
 22.47 
 68.60 
 67.39 
 81.54 







11 
Net profit from ordinary activities after tax (9-10)
 45.75 
37.73 
248.95 
370.25 
 431.65 







12 
Add : Tax (debits)/credits pertaining to earlier years
 - 
 - 
 - 
 0.81 
 (17.82)







13 
Add: Share of profit after tax on investments in associates
 474.76 
 434.13 
 1,452.51 
 1,133.20 
 1,615.41 







14 
Less: Minority interest in net income of subsidiaries
 - 
 - 
 - 
 - 
 - 







15 
Net profit after taxes, minority interest and share of profit of associates (11+12+13-14)
 520.51 
 471.86 
 1,701.46 
 1,504.26 
 2,029.24 







16 
Basic and diluted earnings per share (`) 






before and after extraordinary items (not annualised) 
 46.8 
 42.4 
 152.9 
 135.2 
 182.3 








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The company news service from the London Stock Exchange
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