REG - Bajaj Hldgs & Inv - Half Yearly Report <Origin Href="QuoteRef">BJAT.NS</Origin> - Part 2

Bajaj Holdings And InvestmentAnnouncement

05/01/2016 13:04

- Part 2: For the preceding part double click  ID:nRSb6458Da 

                 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 
 
ü Consolidated net profit      -    `    568 crore   v/s   `   510 crore  -
11% 
 
ü Standalone net profit         -    `    546 crore   v/s   `    645 crore 
 
H1 FY16 v/s H1 FY15 
 
ü Consolidated net profit    -    ` 1,181 crore   v/s   ` 1,032 crore  - 14% 
 
ü 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. 
 
ü 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%. 
 
ü 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  
 
 
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