REG - Bajaj Hldgs & Inv - Final Results <Origin Href="QuoteRef">BJAT.NS</Origin> - Part 3
26/05/2016 11:50
- Part 3: For the preceding part double click ID:nRSZ4219Zb
year ended 31
March 2016 -
(₹ In Crore)
Particulars As at As at
31.03.2016 31.03.2015
(Audited) (Audited)
A Equity and
liabilities
1 Shareholders'
funds
(a) Share 111.29 111.29
capital
(b) Reserves and 15,182.03 13,281.94
surplus
Sub-total - 15,293.32 13,393.23
Shareholders'
funds
2 Minority - -
interest
3 Non-current
liabilities
(a) Deferred tax 6.16 5.21
liabilities
(net)
(b) Other long 29.13 29.64
-term
liabilities
(c) Long-term 1.26 0.17
provisions
Sub-total - Non 36.55 35.02
-current
liabilities
4 Current
liabilities
(a) Trade 0.65 1.15
payables
(b) Other 27.17 15.95
current
liabilities
(c) Short-term 113.99 447.63
provisions
Sub-total - 141.81 464.73
Current
liabilities
Total - Equity 15,471.68 13,892.98
and liabilities
B Assets
1 Non-current
assets
(a) Fixed assets 26.21 25.75
(b) Goodwill on 518.21 518.21
consolidation
(c) Non-current 13,215.41 12,669.64
investments
(d) Long-term 141.54 155.06
loans and
advances
(e) Other non 6.45 3.12
-current assets
Sub-total - Non 13,907.82 13,371.78
-current assets
2 Current assets
(a) Current 60.43 407.92
investments
(b) Inventories 0.13 0.31
(c) Trade 0.59 0.61
receivables
(d) Cash and 1,423.01 48.24
bank balances
(e) Short-term 12.79 11.16
loans and
advances
(f) Other 66.91 52.96
current assets
Sub-total - 1,563.86 521.20
Current assets
Total - Assets 15,471.68 13,892.98
Notes :
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
Extracts of the
Unaudited/Audite
d 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.co
m) and NSE
(www.nseindia.co
m). Key
standalone
financial
information is
given below:
(₹ In Crore)
Particulars Quarter ended Year ended
31.03.2016 31.12.2015 31.03.2015 31.03.2016 31.03.2015
Income from 587.08 74.29 82.13 1,401.28 1,006.46
operations and
other income
Profit before 575.58 63.77 73.85 1,358.56 964.50
tax
Profit after tax 555.93 45.27 41.76 1,270.51 867.73
5. An interim
dividend of ₹ 25
per equity share
(250%) was
declared on 9
March 2016 and
paid on 23 March
2016. The Board
of Directors
recommend a
final dividend
of ₹ 7.50 per
equity share
(75%) subject to
approval of
shareholders.
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
25 May 2016.
By order of the Board of DirectorsFor Bajaj Holdings & Investment Limited
Pune Rahul Bajaj
Date : 25 May 2016 Chairman
Press release
Results - Q4 and FY16
A meeting of the Board of Directors of Bajaj Holdings & Investment Limited
(BHIL) was held today to consider and approve the results for Q4 and FY16.
An interim dividend of ₹ 25 per equity share (250%) was declared on 9 March
2016 and paid on 23 March 2016.
The Board of Directors recommended a final dividend of ₹ 7.50 per share -
75%.
(total dividend of 325% compared to previous year's 325% ).
The total amount of final dividend and tax thereon, including the amount paid
as interim dividend, amounts to ₹ 435 crore (previous year - ₹ 434 crore).
1. Highlights
Q4 FY16 v/s Q4 FY15
ü Consolidated profit after tax - ₹ 564 crore v/s
₹ 525 crore - 7%
ü Standalone profit after tax - ₹ 556 crore v/s
₹ 42 crore - 1,224%
FY16 v/s FY15
ü Consolidated profit after tax - ₹ 2,265 crore v/s
₹ 2,029 crore - 12%
ü Standalone profit after tax - ₹ 1,271 crore v/s
₹ 868 crore - 46%
2. 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.
Q4 FY16
ü The Company received interim dividends from group companies and other
corporates.
ü Both, movements in equity markets and decline in interest rates provided an
opportunity to the Company to realise profit on sale of some of its
investments.
ü As a result, profit after tax for Q4 FY16 recorded a significant increase to
₹ 556 crore v/s ₹ 42 crore in Q4 FY15.
FY16
ü Interim dividends declared by group companies and other corporates at year
end significantly boosted revenue of the Company.
ü The subdued equity markets lowered the returns on equities. Hence profit on
sale of investments, stood at ₹ 114 crore in FY16 v/s ₹ 214 crore in FY15.
ü Profit after tax for FY16 increased by 46% to ₹ 1,271 crore v/s ₹ 868 crore
in FY15.
Details of standalone financials are given below:
₹ In Crore Q4 FY16 Q4 FY15 FY16 FY15
Dividend :
- From BAL, BFS and MSL 475 - 950 473
- From others 16 7 68 56
Profit on sale of investments (net) 32 22 114 214
Interest on investments and other income 60 49 253 217
Interest on income-tax refund - - - 30
Rent from investment property 4 4 16 16
Total revenue 587 82 1,401 1,006
Total expenses 11 8 42 41
Profit before tax 576 74 1,359 965
Profit after tax 556 42 1,271 868
3. Consolidated results
Bajaj Holdings & Investment Limited, as its name suggests, is a holding
company in addition to being an investment company. As on 31 March 2016, 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.
Bajaj Auto consolidates its holding in Indonesian subsidiary and its ~ 48%
stake in KTM AG, Austria.
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).
The performance of the underlying companies is reflected in the consolidated
results of BHIL.
Q4 FY16
ü BAL'sprofit after tax (standalone) increased by 29% to ₹ 803 crore in Q4
FY16 v/s ₹ 622 crore in Q4 FY15. The EBITDA margin stood at a high of 23.1%.
ü BFS(consolidated)profit after tax stood at ₹ 518 crore in Q4 FY16 v/s ₹ 707
crore in Q4 FY15. This is due to BALIC's transfer of policyholders' surplus
to shareholders' account on quarterly basis in FY16 as against on annual basis
till FY15. For full year, BFS (consolidated) profit after tax increased by
10%.
ü Accordingly, BHIL's consolidated profit after tax for Q4 FY16 increased by
7% to ₹ 564 crore v/s ₹ 525 crore in Q4 FY15.
FY16
ü BAL recorded its highest ever profit after tax (standalone) of ₹ 3,652 crore
in FY16 as against ₹ 2,814 crore in FY15 - an increase of 30%. Its operating
EBITDA for FY16 stood at ₹ 5,041 crore at an industry leading EBITDA margin
of 22.1%.
ü BFS(consolidated) too recorded its highest ever profit after tax of ₹ 1,863
crore in FY16 as against ₹ 1,690 crore in FY15 - an increase of 10%, driven
largely by extraordinary performance of BFL.
ü Accordingly, BHIL's consolidated profit after tax for FY16 increased by 12%
to ₹ 2,265 crore v/s ₹ 2,029 crore in FY15.
Summary of consolidated financials of BHIL is as under:
₹ In Crore Q4 FY16 Q4 FY15 FY16 FY15
Total revenue 125 85 477 559
Share of profit after tax of associates 471 482 1,924 1,615
Profit after tax 564 525 2,265 2,029
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