BAJAJ AUTO LTD
 |
| RAJIV BAJAJ, MD&CEO |
RESULTS FOR Q2 FY 2013
SEP.2012
Bajaj Auto has declared its
results for Q2 FY 2013, ending Sep,2013.
Sales Numbers :1,049,208 for Q2 FY 13; compared
to 1,078,971 in Q1 FY 13 (-3%); and 1,164,137 in Q2 FY 12 ( -10%).
Net Sales stands at Rs.4,817.07 Cr in Q2 FY 13; compared
to Rs.4,713.64 Cr in Q1 FY 13 (+2%); and Rs.4,989.39 Cr in Q2 FY 2012 (-3%).
Other Operating Income stands at Rs.155.33 Cr in Q2 FY
2012; compared to Rs.152.02 Cr in Q1 FY
2012 (+2%); and Rs.195.97 Cr in Q2 FY 12
(-21%).
Total Income(net) for Q2 FY 2013 stands at Rs.4,972.40
Cr; compared to Rs.4,865.66 Cr in Q1 FY 13 (+2%); and Rs.5,185.36 Cr in Q2 FY
2012 (-4%).
Cost Of Materials
stands at Rs.3,446.23 Cr in Q2 FY 2013; compared to Rs.3,200.76 Cr in Q1 FY 2013 (+8%); and Rs.3,604.49 Cr in Q2
FY 2012 (-4%).
Total Expenses for Q2 FY 13 stands at Rs.4,098.23 Cr;
compared to Rs.4,029.20 Cr in Q1 FY 2013 (+2%); and Rs.4,249.31 Cr in Q2 FY 12
(-4%).
Profit From Operations stands at Rs.874.17 Cr in Q2 FY
2013; compared to Rs.836.46 in Q1 FY 2013 (+5%); and compared to Rs.936.05 Cr
in Q2 FY 12 (-7%).
Profit Before Tax for Q2 FY 13 stands at Rs.1,040.67 Cr;
compared to Rs.1,018.39 Cr in Q1 FY 13 (+2%); and Rs.976.8cr in Q2 FY 12 (+7%).
Tax Expense for Q2 FY 13 stands at Rs.300 Cr; compared to Rs.300 Cr in Q1 FY 13; and Rs.251 Cr in Q2 FY
12 (+20%).
Net Profit stands at Rs.740.67 Cr in Q2 FY 13; compared
to Rs.718.39 Cr in Q1 FY 13 (+3%); and Rs.725.8 Cr in Q2 FY 12 (+2%).
Paid-up Equity stands at Rs.289.37 Cr throughout.
Basic EPS for Q2 FY 13 stands at Rs.25.6; compared to
Rs.24.8 in q1 FY 13; and Rs.25.1 in Q2 FY 12.
Other
Comments :
The Motor Cycles Industry has witnessed a slump in the
current quarter, with both the TOP 2 WHEELER MAJORS seeing lower demand for
their products.
With its new launches ( Discover ST, Pulsar 200 NS ), Bajaj
Auto’s market share has gone up to 27% in September from 23% in April. Totally,
domestic sales and exports market share went
up to 33% in Q2 FY 13. While exports to
Sri Lanka has slumped to some extent, exports to Africa seem to be picking up
well.
But, current Festive season is said to be clocking good sales numbers.
While Bajaj Auto and Hero Motocorp are talking of slump,
their main MNC competitor, Honda is notching up sales very well. This clearly
indicates that the 2 auto majors are
missing out on the Moped market – or, essentially , the market for 2 wheelers
for women and older men – who constitute over 60% of the market. While Honda is flooding this huge market and
winning over there, Bajaj Auto has withdrawn from it totally and Hero is having
a small presence.
This skewed market perception is partly responsible for
the slump in respect of Bajaj Auto and Hero.
A disciple asked his Guru – why is it so Dark? The Guru said
–
Open your eyes. Seeing light against the slump is perhaps as simple as that.
RESULTS TABLE
Bajaj Auto
|
Q2FY13
|
Q1FY13
|
%Dif QoQ
|
Q2FY12
|
%Dif YoY
|
|
Sales Nos
|
1,049,208
|
1,078,971
|
-3
|
1,164,137
|
-10
|
|
Income From Operations
|
||||||
Gross Sales
|
5,100.57
|
4,971.41
|
3
|
5,237.93
|
-3
|
|
Less:Ex'Duty
|
283.5
|
257.77
|
10
|
248.54
|
14
|
|
Net Sales
|
4,817.07
|
4,713.64
|
2
|
4,989.39
|
-3
|
|
Other Optg Income
|
155.33
|
152.02
|
2
|
195.97
|
-21
|
|
Total Income(net)
|
4,972.40
|
4,865.66
|
2
|
5,185.36
|
-4
|
|
Expenses
|
||||||
Cost Of Matrerials
|
3,446.23
|
3,200.76
|
8
|
3,604.49
|
-4
|
|
Purchase of SIT
|
212.64
|
191.73
|
11
|
199.44
|
7
|
|
Inv.Of FG,SIT,WIP
|
-90.24
|
115.55
|
-178
|
-41.53
|
117
|
|
Emp.Benefits
|
153.22
|
160.4
|
-4
|
139.24
|
10
|
|
Depreciation
|
41.04
|
35.24
|
16
|
39.42
|
4
|
|
OtherExpe
|
347.87
|
336.18
|
3
|
319.49
|
9
|
|
Exp.Capitalised
|
-12.53
|
-10.66
|
18
|
-11.24
|
11
|
|
Total Exp
|
4,098.23
|
4,029.20
|
2
|
4,249.31
|
-4
|
|
Profit From Oprns
|
874.17
|
836.46
|
5
|
936.05
|
-7
|
|
Other Income
|
166.72
|
181.97
|
-8
|
156.38
|
7
|
|
Profit Bef.Fin Costs
|
1,040.89
|
1,018.43
|
2
|
1,092.43
|
-5
|
|
Finance Costs
|
0.22
|
0.04
|
450
|
20.22
|
-99
|
|
Profit After Fin Costs
|
1,040.67
|
1,018.39
|
2
|
1,072.21
|
-3
|
|
Profit Bef.Tax
|
1,040.67
|
1,018.39
|
2
|
976.8
|
7
|
|
Tax
|
300
|
300
|
0
|
251
|
20
|
|
Net Profit
|
740.67
|
718.39
|
3
|
725.8
|
2
|
|
Paid-upEquity
|
289.37
|
289.37
|
0
|
289.37
|
0
|
|
Basic EPS
|
25.6
|
24.8
|
3
|
25.1
|
2
|
|
Sales in numbers for the month of
September 2012
Product
|
For
September 2012
|
Upto
September 2012
|
For
September 2011
|
Upto
September 2011
|
Motorcycles
|
315,314
|
1,911,147
|
371,208
|
1,990,408
|
Three Wheelers
|
44,838
|
217,032
|
46,478
|
266,544
|
Grand Total
|
360,152
|
2,128,179
|
417,686
|
2,256,952
|
* *
* E N D *
* *
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