BAJAJ FINSERV=FY10=CONSOLIDATED RESULT VERY GOOD= CURRENT QTR NEEDS WATCH

Bajaj Finserv Limited

NSE Symbol :  BAJAJFINSV

FY10 VS FY09

CONSOLIDATED RESULTS

Bajaj Finserv has produced good results at the consolidated level for FY10 compared to FY 09.

Net Sales has increased by 155.44% to Rs.984.20 crores from Rs.385.30 crores last year.

Total Expenditure        on the other hand has come down by 33% to Rs.155.13 Crores from Rs.230.93 Cr YOY.

Net Profit  has therefore increased by a whopping 836% to Rs.726.94 Cr from last year’s Rs.77.67 Cr.

Basic EPS has also registered increase to Rs.38.6 on a face value of Rs.5/- from Rs.4.9 last year, a good increase of 688%.

If the company maintains similar progress in coming quarters, FY11 could be a very good year for  the company.

BAJAJ FINSERV_CONSOL	FY10(lakhs)	FY09(lakhs)	Dif%age
Net Sales	98420	38530	155.44
Employees Cost	4735	2745	72.5
Depreciation	2202	2981	-26.13
Other Expenditure	8576	17367	-50.62
Total Expenditure	15513	23093	-32.82
Profit-Operations	82907	15437	437.07
Other Income	121	-
Profit after Interest	83028	15435	437.92
Profit before tax	83028	15435	437.92
Tax Expense	10334	7668	34.77
Net Profit after tax	72694	7767	835.93
Net Profit	72694	7767	835.93
Minority Interest	17241	636	2610.85
Consolidated Net Profit	55453	7131	677.63
Dividend (%)	-	-
Face Value (in Rs.)	5	5	0
Paid-up Equity	7234	7234	0
Reserves	255341	201560	26.68
Basic EPS(in Rs.)	38.6	4.9	687.76
Public Shareholding (%)	44.93	-

STAND ALONE RESULTS

Net Sales   on stand alone basis has increased by 13.45% to Rs.127.10Cr.YOY.

Total Expenditure        has also increased by 40% to Rs.70.46 Cr YOY.

Net Profit   has therefore come down by 29% to Rs.29.39 Cr.

Basic EPS(in Rs.) is Rs.2.3 against Rs.2.9 last year, on a FV of Rs.5.

This is in stark contrast to consolidated results of the company. Hence, results of current and future quarters need watch.

BAJAJ FINSERV_NON CONSOL	FY10(lakhs)	FY09(lakhs)	Dif%age
Net Sales	12710	11203	13.45
Employees Cost	395	343	15.16
Depreciation	2196	2977	-26.23
Other Expenditure	4455	1717	159.46
Total Expenditure	7046	5037	39.88
Profit-Operations	5664	6166	-8.14
Other Income	270	168	60.71
Tax Expense	2995	2197	36.32
Net Profit after tax	2939	4136	-28.94
Extraordinary	-	-
Net Profit	2939	4136	-28.94
Dividend (%)	20	20	0
Face Value (in Rs.)	5	5	0
Paid-up Equity	7234	7234	0
Reserves	114573	113321	1.1
Basic EPS(in Rs.)	2.3	2.9	-20.69
Public Shareholding (%)	44.93	45.48	-1.21

QUARTERLY RESULTS

The quarterly results indicate that net sales in Q4 is down compared to Q3,Q2 and Q1.

Total expenditure also is similarly down in Q4 compared to previous quarters. Due to higher tax expense booked in Q4, the Net profit is down in Q4.

Dividend has been maintained at 20 % - same as last year.

In respect of certain rumours in the market, Bajaj Finserv Limited has  stated, "We would like to state that we are neither in touch with Berkshire Hathaway nor are we aware of any plans of theirs to invest into our company." 

BAJAJ FINSERV_QTRLY	Mar-10	Dec-09	Sep-09	Jun-09	Mar-09
Net Sales	2652	3093	3721	3244	2462
Employees Cost	57	98	98	142	143
Depreciation	390	515	609	682	747
Other Expenditure	1002	1524	939	990	282
Total Expenditure	1449	2137	1646	1814	1172
Interest3	-	-	-	-	-
Other Income5	88	119	34	29	45
Profit before tax	1291	1075	2109	1459	1336
Tax expense	1045	670	760	520	694
Net Profit after tax	246	405	1349	939	642
Extraordinary Items	-	-	-	-	-
Net Profit	246	405	1349	939	642
Dividend (%)	20	-	-	-	20
Face Value (In Rs	5	5	5	5	5
Paid Up Equity	7234	7234	7234	7234	7234
Reserves	-	-	-	-	-
Basic EPS	0.5	0.3	0.9	0.6	0.4

ANNOUNCEMENTS

TO THE EXCHANGE

09-06-2010        News Verification : The media had reports that Berkshire Hathway may acquire a stake in the company. The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company. Bajaj Finserv Limited has vide its letter inter-alia stated, "We would like to state that we are neither in touch with Berkshire Hathaway nor are we aware of any plans of theirs to invest into our company."     -

26-05-2010        Bajaj Finserv Limited has informed the Exchange that the Promoters of Bajaj Finserv Ltd. have purchased 784 equity shares of Rs. 5/- each of Bajaj Finserv Ltd. from the open market on May 24, 2010. The aggregate shareholding of the promoters, inclusive of 48,600 equity shares held by Bajaj Electricals Ltd. Employee Welfare Funds and 75 equity shares held by Bajaj Auto Finance Ltd., which are now treated as part of the promoter group of Bajaj Finserv Ltd., now constitutes 55% of the paid-up equity share capital of Bajaj Finserv Ltd. -

24-05-2010        Bajaj Finserv Limited has informed the Exchange that the Register of Members and Share Transfer Books shall remain closed from July 10, 2010 to July 21, 2010 (both days inclusive) for the purposes of Annual General Meeting scheduled on July 21, 2010 and payment of dividend upon being declared thereat. Further Payment of dividend when declared at the Annual General Meeting will be made on or after July 26, 2010.        -

11-05-2010        Bajaj Finserv Limited has informed the Exchange regarding a press release dated May 11, 2010, with respect to the Audited Financial Results for the quarter and year ended March 31, 2010.

11-05-2010        Bajaj Finserv Limited has informed the Exchange that the of Board of Directors at its meeting held on May 11, 2010 recommended a dividend of Re. 1/- per share (20%) subject to approval of the shareholders.

05-05-2010        Bajaj Finserv Limited has informed the Exchange regarding a press release dated May 05, 2010, titled "Bajaj Finserv (BF) announces new brand identity and new businesses".