Capitaline

Results 24-Jul-21

Analysis

Bajaj Holdings & Investment

OPM eases

The income from operation of Bajaj Holdings & Investment on consolidated basis increased 8.20% to Rs 97.65 crore in Q1FY2022.

Overall OPM eased to 70.81% in Q1FY2022 from 74.90% in Q1FY2021, leading to 2.29% rise in operating profit to Rs 69.15 crore. Other expenditure as a percentage of total income moved up to 16.74% from 12.54% in Q1FY2022. The staff cost as a percentage of total income declined to 12.44% from 12.55% in Q1FY2022.

Other income declined 14.03% to Rs 12.99 crore. Interest cost declined 17.89% to Rs 0.78 crore. Depreciation moved up 0.36% to Rs 8.42 crore. After which, PBT moved down 0.59% to Rs 72.94 crore.

The share of profit of associate companies increased 14.73% to Rs 728.44 crore.

Provision for tax was expense of Rs 21.77 crore, compared to Rs 28.43 crore.

There was profit attributable to non-controlling interest of Rs 1.05 crore as compared to Rs 0.71 crore. Finally, Net profit attributable to owners moved up 14.64% to Rs 778.56 crore.

Business highlights:

Bajaj Auto (consolidated) profit after tax increased to Rs 1170 crore in Q1FY22 from Rs 396 crore in Q1FY21 upon significantly higher sales due to implementation of localised lockdowns unlike a strict nation-wide lockdown in the corresponding previous period.

BFS (consolidated) profit after tax stood at Rs 833 crore in Q1FY22 against Rs 1,215 crore in Q1FY21, due to lower mark-to-market gains on equity investments and higher COVID-19 claims incurred by insurance companies.

Maharashtra Scooters profit after tax stood at Rs 2.14 crore in Q1FY22 from Rs 1.45 crore in Q1FY21.

BHIL remains essentially a holding and investment company. It holds strategic stakes in Bajaj Auto, Bajaj Finserv and Maharashtra Scooters, which it consolidates and other investments of over Rs 10000 crore (at market value).

Full year results analysis

The income from operation of Bajaj Holdings & Investment increased 1.46% to Rs 399.11 crore in FY2021.

Overall OPM has increased to 73.56% in FY2021 from 65.95% in FY2020, leading to 13.18% rise in operating profit to Rs 293.60 crore. Other expenditure as a percentage of total income moved down to 15.37% from 22.73% in FY2021. The staff cost as a percentage of total income declined to 11.06% in FY2021 from 11.32% in FY2020.

Other income increased 51.17% to Rs 63.96 crore. There is 69.70% fall in interest cost at Rs 3.8 crore and 0.84% rise in depreciation to Rs 33.61 crore, Profit before tax increased 25.13% to Rs 320.15 crore. There is no extraordinary item. After which, PBT increased 25.13% to Rs 320.15 crore.

The share of profit of associate companies increased 12.68% to Rs 3445.59 crore.

Provision for tax was expense of Rs 111.59 crore, compared to Rs 233.48 crore.

There was profit attributable to non-controlling interest of Rs 4.32 crore in FY2021 as compared to profit of Rs 88.19 crore in FY2020. Finally, Net profit attributable to owners rose 21.99% yoy to Rs 3649.83 crore in FY2021.

Bajaj Holdings & Investment : Consolidated Results
Particulars	2106 (3)	2006 (3)	Var.(%)	2103 (12)	2003 (12)	Var.(%)
Income from Operations	97.65	90.25	8	399.11	393.38	1
OPM (%)	70.81	74.9	-409 bps	73.56	65.95	762 bps
OP	69.15	67.6	2	293.6	259.42	13
Other Inc.	12.99	15.11	-14	63.96	42.31	51
PBDIT	82.14	82.71	-1	357.56	301.73	19
Interest	0.78	0.95	-18	3.8	12.54	-70
PBDT	81.36	81.76	0	353.76	289.19	22
Depreciation	8.42	8.39	0	33.61	33.33	1
PBT	72.94	73.37		320.15	255.86
Share of Profit/(Loss) from Associates	728.44	634.9	15	3445.59	3057.81	13
PBT before EO	801.38	708.27	13	3765.74	3313.67	14
EO	0	0	-	0	0	-
PBT after EO	801.38	708.27	13	3765.74	3313.67	14
Tax Expenses	21.77	28.43	-23	111.59	233.48	-52
PAT	779.61	679.84	15	3654.15	3080.19	19
Profit attributable to non-controlling interest	1.05	0.71	48	4.32	88.19	-95
Net profit attributable to owners	778.56	679.13	15	3649.83	2992	22
EPS (Rs)*	280	244		328	269
* 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

Barometers trade higher; Oil & gas shares rally for 4th day
( Market Commentary - Mid-Session 29-Apr-24 10:31 )

Bajaj Holdings & Investment consolidated net profit rises 19.98% in the September 2023 quarter
( Results - Announcements 27-Oct-23 17:11 )

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

Bajaj Holdings & Investment consolidated net profit rises 46.03% in the June 2023 quarter
( Results - Announcements 27-Jul-23 17:08 )

Bajaj Holdings & Investment to convene board meeting
( Corporate News - 03-Sep-22 14:45 )

Volumes spurt at Tata Steel Ltd counter
( Hot Pursuit - 28-Jul-22 11:00 )

Bajaj Holdings & Investment director resigns
( Corporate News - 09-Jul-21 17:07 )

Bajaj Holdings & Investment standalone net profit declines 16.62% in the June 2015 quarter
( Results - Announcements 23-Jul-15 17:37 )

Bajaj Holdings & Investment standalone net profit rises 116.61% in the December 2017 quarter
( Results - Announcements 03-Feb-18 17:16 )

Bajaj Holdings & Investment Ltd spurts 8.29%
( Hot Pursuit - 23-Sep-19 13:05 )

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