Capitaline

Results 30-Oct-21

Analysis

Bajaj Holdings & Investment

Strong bottomline growth

The income from operation of Bajaj Holdings & Investment increased 26.69% to Rs 147.01 crore as on 30 September 2021. Overall OPM has increased to 82.85% as on 30 September 2021 from 81.33% as on 30 September 2020, leading to 29.05% rise in operating profit to Rs 121.80 crore. Other expenditure as a percentage of total income moved up to 9.34% from 9.24% as on 30 September 2021. The staff cost as a percentage of total income declined to 7.81% from 9.43% as on 30 September 2021.

Other income declined 14.23% to Rs 13.38 crore. Interest cost declined 18.56% to Rs 0.79 crore. Depreciation moved up 0.12% to Rs 8.4 crore. PBT moved up 25.21% to Rs 125.99 crore.

The effective tax rate increased to 36.28% as on 30 September 2021 compared to 27.45% as on 30 September 2020. Provision for tax was expense of Rs 45.71 crore, compared to Rs 27.62 crore. Profit after tax rose 9.97% to Rs 80.28 crore.

There was profit attributable to non-controlling interest of Rs 66.49 crore as compared to Rs 0.94 crore. The share of profit of associate companies increased 39.71% to Rs 1117.78 crore. Finally, Net profit attributable to owners moved up 29.75% to Rs 1,131.57 crore.

Bajaj Auto (consolidated) profit after tax increased to Rs 2040 crore in Q2FY22 against Rs 1194 crore in Q2 FY21 on account of reasonable recovery in sales and an exceptional fair value gain of Rs 501 crore on KTM AG share swap.

BFS (consolidated) profit after tax increased to Rs 1122 crore in Q2 FY22 against Rs 986 crore in Q2FY21, mainly aided by strong performance of BFL.

Maharashtra Scooters profit after tax stood at Rs 135.70 crore in Q2FY22 against Rs 1.91 crore in Q2 FY21, mainly on account of dividend income in Q2 FY22.

Financial performance H1FY2022

The income from operation of Bajaj Holdings & Investment increased 18.60% to Rs 244.66 crore as on 30 September 2021. Overall OPM eased to 78.05% as on 30 September 2021 from 78.52% as on 30 September 2020, leading to 17.88% rise in operating profit to Rs 190.95 crore. Other expenditure as a percentage of total income moved up to 12.29% from 10.68% as on 30 September 2021. The staff cost as a percentage of total income declined to 9.66% from 10.80% as on 30 September 2021.

Other income declined 14.13% to Rs 26.37 crore. Interest cost declined 18.23% to Rs 1.57 crore. Depreciation moved up 0.24% to Rs 16.82 crore. PBT moved up 14.33% to Rs 198.93 crore.

The effective tax rate increased to 33.92% as on 30 September 2021 compared to 32.21% as on 30 September 2020. Provision for tax was expense of Rs 67.48 crore, compared to Rs 56.05 crore. Profit after tax rose 11.45% to Rs 131.45 crore.

There was profit attributable to non-controlling interest of Rs 67.54 crore as on 30 September 2021 as compared to Rs 1.65 crore as on 30 September 2020. The share of profit of associate companies increased 28.66% to Rs 1846.22 crore. Finally, Net profit attributable to owners rose 23.13% yoy to Rs 1,910.13 crore as on 30 September 2021.

Bajaj Holdings & Investment : Consolidated Results
Particulars	2109 (3)	2009 (3)	Var %	2109 (6)	2009 (6)	Var %	2103 (12)	2003 (12)	Var %
Income from Operations	147.01	116.04	27	244.66	206.29	19	399.11	393.38	1
OPM (%)	82.85	81.33	152 bps	78.05	78.52	-47 bps	73.56	65.95	762 bps
OP	121.80	94.38	29	190.95	161.98	18	293.60	259.42	13
Other Inc.	13.38	15.60	-14	26.37	30.71	-14	63.96	42.31	51
PBDIT	135.18	109.98	23	217.32	192.69	13	357.56	301.73	19
Interest	0.79	0.97	-19	1.57	1.92	-18	3.80	12.54	-70
PBDT	134.39	109.01	23	215.75	190.77	13	353.76	289.19	22
Depreciation	8.40	8.39	0	16.82	16.78	0	33.61	33.33	1
PBT before EO	125.99	100.62	25	198.93	173.99	14	320.15	255.86	25
EO	0.00	0.00	-	0.00	0.00	-	0.00	0.00	-
PBT after EO	125.99	100.62	25	198.93	173.99	14	320.15	255.86	25
Tax Expenses	45.71	27.62	66	67.48	56.05	20	111.59	233.48	-52
PAT	80.28	73.00	10	131.45	117.94	11	208.56	22.38	832
Profit attributable to non-controlling interest	66.49	0.94	6973	67.54	1.65	3993	4.32	88.19	-95
Share of Profit/(Loss) from Associates	1117.78	800.08	40	1846.22	1434.98	29	3445.59	3057.81	13
Net profit attributable to owners	1131.57	872.14	30	1910.13	1551.27	23	3649.83	2992.00	22
EPS (Rs)*	406.7	313.5		343.3	278.8		328.0	268.8
* Annualised on current equity of Rs 111.29 crore, Face value of Rs 10, Excluding extraordinary items.
Figures in Rs crore
Source: Capitaline Corporate Database

Previous News

Bajaj Holdings & Investment consolidated net profit rises 22.38% in the March 2023 quarter
( Results - Announcements 28-Apr-23 07:38 )

Bajaj Holdings & Investment to pay dividend
( Market Beat - Reports 29-Apr-21 19:54 )

Bajaj Holdings & Investment to announce Quarterly Result
( Corporate News - 24-Jun-24 17:49 )

Bajaj Holdings & Investment to consider dividend
( Corporate News - 30-Aug-24 11:51 )

Board of Bajaj Holdings & Investment recommends Interim Dividend
( Corporate News - 16-Sep-23 09:37 )

Bajaj Holdings & Investment fixes record date for dividend
( Market Beat - Reports 27-Apr-23 20:42 )

Bajaj Holdings & Investment appoints director
( Corporate News - 30-Jan-24 19:30 )

Board of Bajaj Holdings & Investment recommends final dividend
( Corporate News - 26-Apr-24 20:19 )

Bajaj Holdings & Investment standalone net profit declines 2.17% in the March 2023 quarter
( Results - Announcements 28-Apr-23 07:36 )

Bajaj Holdings & Investment consolidated net profit rises 14.64% in the June 2021 quarter
( Results - Announcements 22-Jul-21 16:39 )

Bajaj Holdings & Investment to pay final dividend
( Market Beat - Reports 26-Apr-24 17:46 )