REG - Bajaj Hldgs & Inv - Half Yearly Report <Origin Href="QuoteRef">BJAT.NS</Origin> - Part 1

Bajaj Holdings And InvestmentAnnouncement

05/01/2016 13:04

RNS Number : 6458D
Bajaj Holdings & Investment Ltd
28 October 2015
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 and half year ended 30 September 2015
(` In Crore)

Particulars
Quarter ended
Half year ended
Year ended
30.09.2015
(Unaudited)
30.06.2015
(Unaudited)
30.09.2014
(Unaudited)
30.09.2015
(Unaudited)
30.09.2014
(Unaudited)
31.03.2015
(Audited)
1 
Income from operations
 575.54 
 161.65 
 645.93 
 737.19 
 813.43 
 972.22 
2 
Expenses






(a) Employee benefits expense
 3.59 
 3.54 
 1.88 
 7.13 
 3.16 
 6.46 
(b) Depreciation and amortisation
 1.32 
 1.32 
 1.28 
 2.64 
 2.54 
 5.16 
(c) Other expenses (See note 2)
 4.48 
 6.45 
 2.72 
 10.93 
 5.06 
 30.34 
Total expenses
 9.39 
 11.31 
 5.88 
 20.70 
 10.76 
 41.96 







3 
Profit from operations before other income, finance costs and exceptional items (1-2)
 566.15 
 150.34 
 640.05 
 716.49 
 802.67 
 930.26 
4 
Other income
 1.06 
 1.66 
 30.93 
 2.72 
 32.73 
 34.24 
5 
Profit from ordinary activities before finance costs and exceptional items (3+4)
 567.21 
 152.00 
 670.98 
 719.21 
 835.40 
 964.50 
6 
Finance costs
 - 
 - 
 - 
 - 
 - 
 - 
7 
Profit from ordinary activities after finance costs but before exceptional items (5-6)
 567.21 
 152.00 
 670.98 
 719.21 
 835.40 
 964.50 
8 
Exceptional items
 - 
 - 
 - 
 - 
 - 
 - 
9 
Profit from ordinary activities before tax (7+8)
 567.21 
 152.00 
 670.98 
 719.21 
 835.40 
 964.50 
10 
Tax expense
 20.98 
 28.92 
 25.82 
 49.90 
 43.95 
 79.58 
11 
Net profit from ordinary activities after tax (9-10)
 546.23 
 123.08 
 645.16 
 669.31 
 791.45 
 884.92 
12 
Tax (debits)/credits pertaining to earlier years
 - 
 - 
 (0.51)
 - 
 0.81 
 (17.19)
13 
Net profit / (loss) for the period (11+12)
 546.23 
 123.08 
 644.65 
 669.31 
 792.26 
 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 (`) (not annualised) 







before and after extraordinary items
 49.1 
 11.1 
 57.9 
 60.1 
 71.2 
 78.0 


Particulars
As at
30.09.2015
30.06.2015
30.09.2014
31.03.2015
A
Particulars of shareholding




1 
Public shareholding @




 Number of shares 
 64,992,401 
 65,448,175 
 66,588,070 
 65,448,175 
 Percentage of shareholding 
58.40%
58.81%
59.83%
58.81%
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 
 46,301,109 
 45,845,335 
 44,705,440 
 45,845,335 
 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)
41.60%
41.19%
40.17%
41.19%

@ including equity shares represented by GDRs.








Particulars
Quarter ended
30.09.2015
B
Investor complaints

Pending at the beginning of the quarter
Nil
Received during the quarter
7 
Disposed of during the quarter
7 
Remaining unresolved at the end of the quarter
Nil
Notes: 
1. 
Disclosure of standalone assets and liabilities as per clause 41(I)(ea) of the listing agreement for the half year ended 30 September 2015 -
Particulars 
As at
30.09.2015 
As at
30.09.2014 
As at
31.03.2015 
(Unaudited) 
(Unaudited) 
(Audited) 
A 
Equity and liabilities 



1
Shareholders' funds 



(a) Share capital 
 111.29 
 111.29 
 111.29 
(b) Reserves and surplus 
 6,520.89 
 6,210.60 
 5,851.58 
Sub-total - Shareholders' funds
 6,632.18 
 6,321.89 
 5,962.87 
2
Non-current liabilities 



(a) Deferred tax liabilities (net) 
 5.12 
 6.14 
 5.21 
(b) Other long-term liabilities 
 25.90 
 25.55 
 25.65 
(c) Long-term provisions 
 0.69 
 0.09 
 0.15 
Sub-total - Non-current liabilities 
 31.71 
 31.78 
 31.01 
3
Current liabilities 



(a) Trade payables 
 0.40 
 0.49 
 1.09 
(b) Other current liabilities 
 14.47 
 11.42 
 14.22 
(c) Short-term provisions 
 38.07 
 18.64 
 447.44 
Sub-total - Current liabilities 
 52.94 
 30.55 
 462.75 

Total - Equity and liabilities 
 6,716.83 
 6,384.22 
 6,456.63 
B 
Assets 



1
Non-current assets 



(a) Fixed assets 
 24.53 
 24.75 
 24.63 
(b) Non-current investments 
 6,114.25 
 5,018.98 
 5,799.77 
(c) Long-term loans and advances 
 151.62 
 155.06 
 151.62 
(d) Other non-current assets 
 - 
 56.88 
 - 
Sub-total - Non-current assets 
 6,290.40 
 5,255.67 
 5,976.02 
2
Current assets 



(a) Current investments 
 301.91 
 794.95 
 372.74 
(b) Cash and bank balances 
 47.47 
 252.74 
 45.19 
(c) Short-term loans and advances 
 11.38 
 0.86 
 10.71 
(d) Other current assets 
 65.67 
 80.00 
 51.97 
Sub-total - Current assets 
 426.43 
 1,128.55 
 480.61 
Total - Assets 
 6,716.83 
 6,384.22 
 6,456.63 
Notes (contd):






2.
Other expenses includes following - 
(` In Crore)

Particulars
Quarter ended
Half year ended
Year ended

30.09.2015
30.06.2015
30.09.2014
30.09.2015
30.09.2014
31.03.2015

Printing charges
 0.14 
 0.37 
 - 
 0.51 
 0.44 
 0.47 

Rates and taxes
 0.66 
 0.65 
 0.88 
 1.31 
 1.01 
 2.60 

Business support service charges
 1.16 
 1.29 
 0.74 
 2.45 
 1.48 
 3.21 

Provision for diminution in investments
 - 
 - 
 - 
 - 
 - 
 15.00 

Legal and professional charges
 0.11 
 0.89 
 0.06 
 1.00 
 0.22 
 0.70 

Travelling expenses
 0.52 
 0.17 
 - 
 0.69 
 - 
 0.14 

CSR expenditure
 0.80 
 2.00 
 - 
 2.80 
 - 
 4.00 








3.
The Company is essentially a holding and investment company focusing 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. 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).
5.
Figures for previous year / period have been regrouped wherever necessary.
6.
` 1 crore is equal to ` 10 million.
7.
The above results have been reviewed by the Audit Committee, approved by the Board of Directors in the meeting held on 21 October 2015 and subjected to a limited review by the statutory auditors.


By order of the Board of Directors
For Bajaj Holdings & Investment Limited

Pune
Date : 21 October 2015
 Rahul Bajaj
 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 and half year ended 30 September 2015
(`In Crore)

Particulars
Quarter ended
Half year ended
Year ended
30.09.2015
(Unaudited)
30.06.2015
(Unaudited)
30.09.2014
(Unaudited)
30.09.2015
(Unaudited)
30.09.2014
(Unaudited)
31.03.2015
(Audited)
1 
Net Sales and Income from operations
 110.00 
 163.35 
 184.61 
 273.35 
 356.89 
 523.93 
2 
Expenses







(a) Cost of materials consumed
 0.24 
 0.31 
 0.21 
 0.55 
 0.39 
 1.02 

(b) Changes in inventories of finished goods, work-in-progress and stock-in-trade
 0.13 
 (0.07)
 0.01 
 0.06 
 (0.01)
 (0.18)

(c) Employee benefits expense
 4.37 
 3.91 
 2.26 
 8.28 
 3.87 
 7.87 

(d) Depreciation and amortisation
 1.36 
 1.37 
 1.77 
 2.73 
 3.12 
 5.93 

(e) Other expenses
 4.63 
 6.64 
 2.84 
 11.27 
 5.40 
 31.00 

Total expenses
 10.73 
 12.16 
 7.09 
 22.89 
 12.77 
 45.64 
3 
Profit from operations before other income, finance costs and exceptional items (1-2)
 99.27 
 151.19 
 177.52 
 250.46 
 344.12 
 478.29 
4 
Other income
 1.08 
 1.71 
 31.06 
 2.79 
 33.32 
 34.90 
5 
Profit from ordinary activities before finance costs and exceptional items (3+4)
 100.35 
 152.90 
 208.58 
 253.25 
 377.44 
 513.19 
6 
Finance costs
 - 
 - 
 - 
 - 
 - 
 - 
7 
Profit from ordinary activities after finance costs but before exceptional items (5-6)
 100.35 
 152.90 
 208.58 
 253.25 
 377.44 
 513.19 
8 
Exceptional items
 - 
 - 
 - 
 - 
 - 
 - 
9 
Profit from ordinary activities before tax (7-8)
 100.35 
 152.90 
208.58 
253.25 
377.44 
 513.19 
10 
Tax expense
 21.01 
 29.04 
 25.89 
 50.05 
 44.92 
 81.54 
11 
Net profit from ordinary activities after tax (9-10)
 79.34 
 123.86 
182.69 
203.20 
332.52 
 431.65 
12 
Add : Tax (debits)/credits pertaining to earlier years
 - 
 - 
 (0.51)
 - 
 0.81 
 (17.82)
13 
Add: Share of profit after tax on investments in associates
 488.45 
 489.30 
 327.86 
 977.75 
 699.07 
 1,615.41 
14 
Less: Minority interest in net income of subsidiaries
 - 
 - 
 - 
 - 
 - 
 - 
15 
Net profit / (loss) for the period (11+12+13-14)
 567.79 
 613.16 
 510.04 
 1,180.95 
 1,032.40 
 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 (`) (not annualised) 







before and after extraordinary items
 51.0 
 55.1 
 45.8 
 106.1 
 92.8 
 182.3 















Particulars
As at
30.09.2015
30.06.2015
30.09.2014
31.03.2015
A
Particulars of shareholding




1 
Public shareholding @





 Number of shares 
 64,992,401 
 65,448,175 
 66,588,070 
 65,448,175 

 Percentage of shareholding 
58.40%
58.81%
59.83%
58.81%
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 
 46,301,109 
 45,845,335 
 44,705,440 
 45,845,335 

 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)
41.60%
41.19%
40.17%
41.19%
Particulars
Quarter ended
30.09.2015
B
Investor complaints

Pending at the beginning of the quarter
Nil
Received during the quarter
7 
Disposed of during the quarter
7 
Remaining unresolved at the end of the quarter
Nil
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.
Disclosure of consolidated assets and liabilities as per clause 41(I)(ea) of the listing agreement for the half year ended 30 September 2015 -

(` In Crore)
Particulars 
As at
30.09.2015 
As at
30.09.2014 
As at
31.03.2015 
(Unaudited) 
(Unaudited) 
(Audited) 
A 
Equity and liabilities 








1
Shareholders' funds 



(a) Share capital 
 111.29 
 111.29 
 111.29 
(b) Reserves and surplus 
 14,620.87 
 12,814.72 
 13,281.94 
Sub-total - Shareholders' funds 
 14,732.16 
 12,926.01 
 13,393.23 
2
Minority Interest 
 - 
 - 
 - 




3
Non-current liabilities 



(a) Deferred tax liabilities (net) 
 5.12 
 6.14 
 5.21 
(b) Other long-term liabilities 
 29.44 
 30.47 
 29.64 
(c) Long-term provisions 
 0.93 
 0.12 
 0.17 
Sub-total - Non-current liabilities 
 35.49 
 36.73 
 35.02 
4
Current liabilities 



(a) Trade payables 
 0.77 
 0.87 
 1.24 
(b) Other current liabilities 
 16.16 
 12.93 
 15.86 
(c) Short-term provisions 
 38.31 
 18.82 
 447.63 
Sub-total - Current liabilities 
 55.24 
 32.62 
 464.73 
Total - Equity and liabilities 
 14,822.89 
 12,995.36 
 13,892.98 
B 
Assets 



1
Non-current assets 



(a) Fixed assets 
 25.59 
 26.04 
 25.75 
(b) Goodwill on consolidation 
 518.21 
 505.11 
 518.21 
(c) Non-current investments 
 13,650.81 
 11,052.60 
 12,669.64 
(d) Long-term loans and advances 
 155.19 
 159.11 
 155.06 
(e) Other non-current assets 
 5.02 
 56.89 
 3.12 
Sub-total - Non-current assets 
 14,354.82 
 11,799.75 
 13,371.78 
2
Current assets 



(a) Current investments 
 337.49 
 855.19 
 407.92 
(b) Inventories 
 0.25 
 0.13 
 0.31 
(c) Trade receivables 
 1.07 
 0.59 
 0.61 
(d) Cash and bank balances 
 50.30 
 257.32 
 48.24 
(e) Short-term loans and advances 
 11.85 
 1.59 
 11.16 
(f) Other current assets 
 67.11 
 80.79 
 52.96 
Sub-total - Current assets 
 468.07 
 1,195.61 
 521.20 
Total - Assets 
 14,822.89 
 12,995.36 
 13,892.98 

Notes (contd.) :
3.
The Company is essentially a holding and investment company focusing 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 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
Half year ended
Year ended

 30.09.2015
 30.06.2015
 30.09.2014
 30.09.2015
 30.09.2014
 31.03.2015

Income from operations and other income
 576.60 
 163.31 
 676.86 
 739.91 
 846.16 
 1,006.46 

Profit before tax
 567.21 
 152.00 
 670.98 
 719.21 
 835.40 
 964.50 

Profit after tax
 546.23 
 123.08 
 644.65 
 669.31 
 792.26 
 867.73 


5.
Figures for previous year / period have been regrouped wherever necessary.
6.
` 1 crore is equal to ` 10 million.
7.
The above results have been reviewed by the Audit Committee, approved by the Board of Directors in the meeting held on 21 October 2015 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 : 21 October 2015
Chairman
Annexure - Consolidated results of BHIL

(` In Crore)
Q2 FY16
Q2 FY15
H1 FY16
H1 FY15
FY15









1 
Net Sales and Income from operations
 110.00 
 184.61 
 273.35 
 356.89 
 523.93 

2 
Expenses







(a) Cost of materials consumed
 0.24 
 0.21 
 0.55 
 0.39 
 1.02 


(b) Changes in inventories of finished goods, work-in-progress and stock-in-trade
 0.13 
 0.01 
 0.06 
 (0.01)
 (0.18)


(c) Employee benefits expense
 4.37 
 2.26 
 8.28 
 3.87 
 7.87 


(d) Depreciation and amortisation
 1.36 
 1.77 
 2.73 
 3.12 
 5.93 


(e) Other expenses
 4.63 
 2.84 
 11.27 
 5.40 
 31.00 


Total expenses
 10.73 
 7.09 
 22.89 
 12.77 
 45.64 









3 
Profit from operations before other income, finance costs and exceptional items (1-2)
 99.27 
 177.52 
 250.46 
 344.12 
 478.29 









4 
Other income
 1.08 
 31.06 
 2.79 
 33.32 
 34.90 









5 
Profit from ordinary activities before finance costs and exceptional items (3+4)
 100.35 
 208.58 
 253.25 
 377.44 
 513.19 









6 
Finance costs
 - 
 - 
 - 
 - 
 - 









7 
Profit from ordinary activities after finance costs but before exceptional items (5-6)
 100.35 
 208.58 
 253.25 
 377.44 
 513.19 









8 
Exceptional items
 - 
 - 
 - 
 - 
 - 









9 
Profit from ordinary activities before tax (7-8)
 100.35 
208.58 
253.25 
377.44 
 513.19 









10 
Tax expense
 21.01 
 25.89 
 50.05 
 44.92 
 81.54 









11 
Net Profit from ordinary activities after tax (9-10)
 79.34 
182.69 
203.20 
332.52 
 431.65 









12 
Add : Tax (debits)/credits pertaining to earlier years
 - 
 (0.51)
 - 
 0.81 
 (17.82)









13 
Add: Share of profit after tax on investments in associates
 488.45 
 327.86 
 977.75 
 699.07 
 1,615.41 









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









15 
Net Profit / (Loss) for the period (11+12+13-14)
 567.79 
 510.04 
 1,180.95 
 1,032.40 
 2,029.24 

16 
Basic and diluted earnings per share (`) (not annualised) 







before and after extraordinary items
 51.0 
 45.8 
 106.1 
 92.8 
 182.3 









Bajaj Holdings & Investment Limited
Press release
Financial results - Q2 FY16 
A meeting of the Board of Directors of Bajaj Holdings & Investment Limited (BHIL) was held today to consider and approve the results for Q2 FY16.
1. Highlights 
Q2 FY16 v/s Q2 FY15
 Consolidated net profit - ` 568 crore v/s ` 510 crore - 11%
 Standalone net profit - ` 546 crore v/s ` 645 crore 
H1 FY16 v/s H1 FY15
 Consolidated net profit- ` 1,181 crore v/s ` 1,032 crore - 14%
 Standalone net profit - ` 669 crore v/s ` 792 crore 
2. Consolidated results
BHIL is essentially an investment company. As on 30 September 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 excellent performance of the underlying companies is reflected in the consolidated results of BHIL.
 BAL declared its secondhighest quarterly profit (standalone) of ` 933 crore in Q2 FY16, the highest being in Q1. Thus, BAL declared its best ever H1 results. It also recorded operating EBITDA of ` 1,357 crore at an industry leading EBITDA margin of 22.1%. 
 BFS (consolidated) net profit increased by 40% from ` 316 crore to ` 441 crore in Q2 FY16. 
Summary of consolidated financials of BHIL is as under: 
` In Crore
Q2 FY16
Q2 FY15
H1 FY16
H1 FY15
FY15
Net sales and other income
111
216
276
390
559
Income from associates after tax
489
328
978
699
1,615
Net profit
568
510
1,181
1,032
2,029
3. Standalone results
Details of standalone financials are given below:
` In Crore
Q2 FY16
Q2 FY15
H1 FY16
H1 FY15
FY15
Dividend :





 - From BAL, BFS and MSL
475
473
475
473
473
 - From others
23
24
49
49
56
Profit on sale of investments (net)
12
90
76
178
214
Interest on investments and other income
63
56
132
108
217
Interest on income tax refund
-
30
-
30
30
Rent from investment property
4
4
8
8
16
Total revenue
577
677
740
846
1,006
Total expenses
10
6
21
11
41
Profit before tax
567
671
719
835
965
Profit after tax
546
645
669
791
885
Net profit 
546
645
669
792
868
Equity market remained subdued during the quarter. The Company did not book any profit on sale of equity shares. 
4. Investments
The cost and market value of the investment portfolio is as under:
` In Crore
30-Sep-15
31-Mar-15
Cost
Market value
Cost
Market value
Strategic equity investments in group companies
1,188
32,670
1,188
27,964
Equity shares - others
1,946
3,030
1,697
3,168
Fixed income securities
3,118
3,205
3,122
3,227
Investment property
204
204
206
206
Total
6,456
39,109
6,213
34,565
As against a book value of ` 596 per share,NAV of the above investments was ` 3,514 per share as on 30 September 2015.
Sanjiv Bajaj 
Managing Director
21 October 2015

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