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Cash Flows
Rs. Crores
Particulars Mar '04 Mar '05 Mar '06 Mar '07 Mar '08
Net Cash From Operating Activities 972.93 746.83 936.08 625.05 1,211.78
Opening Cash & Cash Equivalents 24.33 37.12 17.60 158.72 16.66
Closing Cash & Cash Equivalents 37.25 17.59 158.96 36.30 15.10
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COMPARATIVE INCOME STATEMENT
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Balance Sheet
PARTICULARS 2007 (Rs. Cr) 2008 (Rs. Cr)
Share Capital 39.94 39.94
Reserves & Surplus 2,430.12 2,946.3
Unsecured Loans 165.17 132
Deferred Tax Liabilities 129.58 130.59
TOTAL 2,764.81 3,248.83
100% 8% 6% 4%
13% 12%
80%
60%
Ratio 90% 92% 94%
84% 86%
40%
20%
3% 2% 2% 2% 1%
0%
2004 2005 2006 2007 2008
Key Ratios Mar '04 Mar '05 Mar '06 Mar '07 Mar '08
Gross Profit Margin(%) 17.88 16.4 16.35 12.85 11.67
Net Profit Margin(%) 12.36 10.85 11.06 8.58 9.27
Return On Capital Employed(%) 74.7 67.12 60.31 43.48 41.57
Current Ratio 0.38 0.35 0.49 0.57 0.48
Quick Ratio 0.24 0.22 0.35 0.4 0.32
Debt Equity Ratio 0.15 0.14 0.09 0.07 0.04
Earning per share (Rs.)
36.5 40.6 48.6 43 48.5
Dividend Per Share (Rs.)
20 20 20 17 19
Dividend Payout / Net Profit
61.9 56.3 46.9 46.3 45.9
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Dividend History
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BAJAJ AUTO
LTD
HISTORY:
Founded in 1926 by JAMNALAL BAJAJ.
Bajaj Auto started its operations in 1945, as in importer of two and
three wheelers.
BUSINESS:
Bajaj Auto makes five kinds of motorcycles, two kinds of
Scooters and eight kinds of three wheelers.
PARTERSHIP:
Bajaj Auto has a technical tie-up with Kawasaki Heavy
Industries of Japan to produce a range of the latest, state-
of-art two-wheelers in India.
LOCATION:
Bajaj Auto has three plants in Maharashtra, at Akurdi, Waluj
and Chakan.
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Comparative Income Statement
PARTICULARS 2008 (Rs. Cr)
Net Sales 8,663
Manufacturing & Other Expenses 7,753
Other Income 506
PBDIT 1,416
Depreciation 174
PBIT 1,242
Net Interest 5
Voluntary Retirement Scheme 102
PBT 1,135
Tax 379
PAT 756
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Balance Sheet
PARTICULARS 2008 (Rs. Cr)
Share Capital 144.68
Reserves & Surplus 1,442.91
Secured Loans 6.95
Unsecured Loans 1,327.39
Deferred Tax Adjustments 10.98
TOTAL 2,932.91
Capital Structure
Share Capital
4.95%
Unsecured Loans
45.43%
Reserves
49.38%
Secured Loans
0.24%
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Key Ratios
Return On Capital Employed(%) 39.71
47.61
Current Ratio 0.88
Earning per share (Rs.) 52.25
Dividend Per Share (Rs.) 20.00
Dividend Payout / Net Profit 44.78
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Dividend History
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Comparative Analysis
BAJAJ AUTO HERO HONDA
Maharashtra Scooters
2.50 10.87 164.40
Ltd.
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