Financial Statements of Hero

Motors and Bajaj Motors

By:
Swapnil W. 956
Gajendra S. 936

Company Profile
Incorporation Year
Chairman
Managing Director
Company Secretary
Auditor
Registered Office

Telephone
Fax
E-mail
Website
Face Value (Rs)
BSE Code
BSE Group
NSE Code
Bloomberg
Reuters
ISIN Demat
Market Lot
Listing
Financial Year End
Book Closure Month
AGM Month

Industry

Registrar's Name & Address

1998
O P Munjal
Pankaj Munjal
Mukesh Kumar
B D Bansal & Co
603 International Trade Tower,
Nehru Place,
New Delhi, 110019, New Delhi
91-11-40511600/700
Hero91-11-26471230
Motors Ltd
common@heromotors.com
:Auto
Ancillaries - Others
http://www.heromotors.com
10
Not Available
03
Sep
Sep
Alankit Assignments Ltd, 2E/21 Alankit House, Anarkali
Market, Jhandewalan Extn, New Delhi - 110055.
91-11-42541234/42541
91-11-23552001

Year
SOURCES OF FUNDS :
Share Capital +
Reserves Total +

Mar 11

Mar 10

Mar 09

Mar 08

Mar 07

Mar 06

Mar 05

Mar 04

Mar 03

Mar 02

39.94
2,916.12

39.94
3,425.08

39.94
3,760.81

39.94
2,946.30

39.94
2,430.12

39.94
1,969.39

39.94
1,453.44

39.94
1,098.87

39.94
821.09

39.94
645.82

Equity Share Warrants

Equity Application Money
Total Shareholders Funds

0
0
2,956.06

0
0
3,465.02

0
0
3,800.75

0
0
2,986.24

0
0
2,470.06

0
0
2,009.33

0
0
1,493.38

0
0
1,138.81

0
0
861.03

0
0
685.76

Secured Loans +
Unsecured Loans +
Total Debt
Total Liabilities

0
1,491.16
1,491.16
4,447.22

0
66.03
66.03
3,531.05

0
78.49
78.49
3,879.24

0
132
132
3,118.24

0
165.17
165.17
2,635.23

0
185.78
185.78
2,195.11

0
201.76
201.76
1,695.14

0
174.7
174.7
1,313.51

0
134.28
134.28
995.31

0
116.44
116.44
802.2

APPLICATION OF FUNDS :
Gross Block +

5,538.46

2,750.98

2,516.27

1,938.78

1,800.63

1,471.97

1,104.19

916.91

786.29

704.52

Less : Accumulated Depreciation +

1,458.18

1,092.20

942.56

782.52

635.1

522.6

429.71

345.79

278.42

223.47

Less:Impairment of Assets
Net Block +

0
4,080.28

0
1,658.78

0
1,573.71

0
1,156.26

0
1,165.53

0
949.37

0
674.48

0
571.12

0
507.87

0
481.05

Lease Adjustment
Capital Work in Progress+
Investments +

0
125.14
5,128.75

0
48.14
3,925.71

0
120.54
3,368.75

0
408.49
2,566.82

0
189.92
1,973.87

0
44.19
2,061.89

0
40.85
2,026.65

0
17.69
1,565.10

0
9.19
1,193.00

0
9.69
725.77

524.93
130.59
71.52

436.4
108.39
1,907.21

326.83
149.94
219.57

317.1
297.44
131.09

275.58
335.25
35.78

226.55
158.66
158.72

204.26
89.55
17.6

188.2
43.8
37.12

200.92
141.49
24.33

178.36
99.72
108.96

777.53
1,504.57

430.58
2,882.58

317.15
1,013.49

191.15
936.78

266.66
913.27

277.31
821.24

243.12
554.53

239.87
508.99

109.77
476.51

138.8
525.84

Current Liabilities +

5,063.68

3,805.06

1,525.85

1,324.98

1,041.92

1,072.88

1,015.76

1,003.86

681.52

613.32

Provisions +

1,081.07

1,026.35

526.97

499.76

437.24

489.92

484.71

256.19

434.17

266.39

Total Current Liabilities

6,144.75

4,831.41

2,052.82

1,824.74

1,479.16

1,562.80

1,500.47

1,260.05

1,115.69

879.71

-4,640.18

-1,948.83

-1,039.33

-887.96

-565.89

-741.56

-945.94

-751.06

-639.18

-353.87

0.7

10.22

Deferred Tax Assets

Deferred Tax Liability
Net Deferred Tax
Total Assets

5.95
252.72
-246.77
4,447.22

7.88
160.63
-152.75
3,531.05

8.65
153.08
-144.43
3,879.24

5.22
130.59
-125.37
3,118.24

1.38
129.58
-128.2
2,635.23

1.32
120.1
-118.78
2,195.11

0.63
101.53
-100.9
1,695.14

0.68
90.02
-89.34
1,313.51

0.89
77.16
-76.27
995.31

0.81
71.47
-70.66
802.2

Contingent Liabilities+

30.36

13.72

8.17

20.24

6.07

0.61

8.41

Current Assets, Loans & Advances

Inventories +
Sundry Debtors +
Cash and Bank+
Loans and Advances +
Total Current Assets
Less : Current Liabilities and Provisions

Net Current Assets

Miscellaneous Expenses not written off +

Year
INCOME :
Sales Turnover +
Excise Duty
Net Sales
Other Income +
Stock Adjustments +
Total Income
EXPENDITURE :
Raw Materials +
Power & Fuel Cost+
Employee Cost +
Other Manufacturing Expenses
+
Selling and Administration
Expenses +
Miscellaneous Expenses +

Mar 09(12)

Mar 08(18)

Sep 06(12)

Sep 05(12)

Sep 04(18)

Mar 03(12)

183.92
19.57
164.35
17.39
-3.53
178.21

259.11
21.40
237.71
64.82
5.46
307.99

149.04
13.86
135.18
3.97
0.59
139.74

109.29
9.20
100.09
3.75
-2.15
101.69

171.66
17.51
154.15
11.78
-0.35
165.58

5.42
0.76
4.66
7.52
0.11
12.29

117.12
5.90
18.93
5.98

175.17
11.62
25.85
9.68

95.92
5.10
11.41
4.19

79.29
3.80
10.98
2.71

122.24
4.62
16.01
3.28

4.30
0.47
2.21
0.38

8.33

12.11

7.84

12.95

32.78

2.31

3.34

38.17

4.64

2.89

9.08

1.66

0.00

0.00

0.00

0.00

0.00

0.00

159.60
18.61
21.14
-2.53
7.64
-10.17
0.12
0.40
0.07
-10.76
10.14
-20.90
0.00

272.60
35.39
16.61
18.78
15.51
3.27
0.41
0.51
1.03
1.32
28.16
-26.84
0.00

129.10
10.64
6.17
4.47
9.88
-5.41
0.18
0.29
-6.07
0.19
0.28
-0.09
102.60

112.62
-10.93
10.35
-21.28
13.06
-34.34
0.01
0.09
0.00
-34.44
0.12
-34.56
0.00

188.01
-22.43
16.13
-38.56
17.49
-56.05
-0.01
0.00
0.52
-56.56
-0.02
-56.54
-0.82

11.33
0.96
2.14
-1.18
1.16
-2.34
4.72
0.00
0.00
-7.06
0.23
-7.29
5.25

P & L Balance brought forward

0.51

0.19

-102.60

-68.16

-10.78

0.70

Statutory Appropriations +

0.00

0.00

0.00

0.00

0.00

0.00

5.41
-15.66

1.00
0.51

0.00
0.19

0.00
-102.60

0.00
-68.16

0.00
-1.11

Less: Pre-operative Expenses

Capitalised+
Total Expenditure
Operating Profit
Interest +
Gross Profit
Depreciation+
Profit Before Tax
Tax+
Fringe Benefit tax+
Deferred Tax+
Reported Net Profit
Extraordinary Items +
Adjusted Net Profit
Adjst. below Net Profit +

Appropriations +
P & L Balance carried down

Year

Mar 09

Mar 08

Sep 06

Cash profit

16.83

Increase in equity

Increase in other networth

Sep 05

Sep 04

Mar 03

9.97

3.39

22.78

1.13

35

24.31

7.22

223.87

5.95

29.63

12.3

39.88

69.58

25.21

Decrease in gross block

45.57

Decrease in investments

30.17

1.26

54.14

59.8

104.7

233.84

41.01

163.37

55.47

3.69

21.61

2.44

Decrease in networth

53.1

10.49

Decrease in loan funds

42.1

Increase in gross block

41.9

77.42

11.97

149.19

40.9

Increase in investments

Increase in loan funds

Decrease in working capital

Others
Total Inflow
Application of funds

Cash loss

14.21

72.71

Increase in working capital

31.99

11.72

7.43

7.49

Dividend

Others

49.5

0.69

4.64

59.8

104.7

233.84

41.01

163.37

55.47

Total Outflow

Bajaj Motors Limited

Incorporation Year
Chairman

Managing Director
Company Secretary

Rahul Bajaj

Rajiv Bajaj
J. SrIdhar

Auditor
Registered Office

No 39-40 Kilo Meter Stone,

Delhi-Jaipur Highwy Narsingpur,
Gurgaon, 122001, Haryana

Telephone

91-124-6373453

Fax

91-124-6372553

E-mail

bml@satyam.net.in

Website

http://www.bajajmotors.com

Face Value (Rs)

10

BSE Code
BSE Group
NSE Code
Bloomberg

Reuters

ISIN Demat

Market Lot

Listing

Not Listed

Financial Year End

08

Book Closure Month

AGM Month
Registrar's Name & Address

Year
SOURCES OF FUNDS :

Mar 06

Mar 05

Mar 04

Mar 02

Mar 01

6.39
53.35
0.00

6.39
36.74
0.00

6.39
18.68
0.00

6.39
7.36
0.00

1.23
7.27
0.00

Equity Application Money

0.00

0.00

0.00

0.00

0.00

Total Shareholders Funds

59.74

43.13

25.07

13.75

8.50

Secured Loans +
Unsecured Loans +
Total Debt
Total Liabilities
APPLICATION OF FUNDS

25.96
2.05
28.01
87.75

22.79
2.61
25.40
68.53

17.03
3.29
20.32
45.39

12.40
4.11
16.51
30.26

7.09
2.35
9.44
17.94

Gross Block +
Less : Accumulated
Depreciation +
Less:Impairment of Assets

86.84
18.06

62.25
12.35

44.70
16.45

28.19
7.16

17.07
5.52

0.00

0.00

0.00

0.00

0.00

Net Block +
Lease Adjustment
Capital Work in Progress+

68.78
0.00
0.00

49.90
0.00
0.00

28.25
0.00
0.00

21.03
0.00
0.00

11.55
0.00
0.00

0.00

0.00

0.00

0.00

0.00

21.22
11.02
4.19
6.40

14.70
14.01
8.13
5.53

11.35
14.51
2.81
3.04

6.88
6.99
0.95
2.78

5.31
2.76
0.89
2.42

Total Current Assets

Less : Current Liabilities and
Provisions
Current Liabilities +
Provisions +
Total Current Liabilities

42.83

42.37

31.71

17.60

11.38

16.59
0.52
17.11

16.98
0.36
17.34

12.31
0.70
13.01

7.65
0.74
8.39

5.02
0.00
5.02

Net Current Assets

Miscellaneous Expenses not
written off +
Deferred Tax Assets

25.72
0.03

25.03
0.05

18.70
0.01

9.21
0.02

6.36
0.03

0.00

0.00

0.00

0.00

0.00

Share Capital +
Reserves Total +
Equity Share Warrants

Investments +
Current Assets, Loans &
Advances
Inventories +
Sundry Debtors +
Cash and Bank+
Loans and Advances +

Year

Mar 06(12)

Mar 05(12)

Mar 04(12)

Mar 02(12)

Mar 01(12)

INCOME :
Sales Turnover +
Excise Duty
Net Sales
Other Income +
Stock Adjustments +
Total Income

245.77

221.66

183.46

127.51

102.17

42.26

29.85

24.68

17.52

14.02

203.51

191.81

158.78

109.99

88.15

3.99

9.07

1.16

0.3

0.2

1.21

0.7

-1.33

1.06

-0.58

208.71

201.58

158.61

111.35

87.77

112.26

108

94.7

76.91

61.5

13.83

9.16

5.59

0.58

0.56

5.8

5.11

3.56

1.57

1.29

22.84

34.31

25.88

21.46

16.66

0.65

8.59

6.74

0.2

0.79

21.16

1.2

1.04

0.9

0.75

176.54

166.37

137.51

101.62

81.55

32.17

35.21

21.1

9.73

6.22

2.1

1.48

1.4

1.01

0.96

30.07

33.73

19.7

8.72

5.26

EXPENDITURE :
Raw Materials +
Power & Fuel Cost+
Employee Cost +
Other Manufacturing Expenses +
Selling and Administration Expenses +
Miscellaneous Expenses +
Less: Pre-operative Expenses Capitalised+
Total Expenditure
Operating Profit
Interest +
Gross Profit
Depreciation+

6.17

4.62

6.65

1.76

3.58

Profit Before Tax

23.9

29.11

13.05

6.96

1.68

6.6

5.81

1.62

1.13

0.33

4.88

16.97

18.42

8.05

5.34

0.55

1.69

-0.05

0.01

0.02

Tax+
Fringe Benefit tax+
Deferred Tax+
Reported Net Profit
Extraordinary Items +
Adjusted Net Profit

15.28

18.47

8.04

5.32

0.55

Adjst. below Net Profit +

P & L Balance brought forward

Statutory Appropriations +
Appropriations +
P & L Balance carried down
Dividend
Preference Dividend
Equity Dividend %
Earnings Per Share-Unit Curr

16.97

18.42

8.05

5.34

0.55

0.32

0.32

0.32

26.49

28.76

12.54

8.36

4.47

93.49

67.5

39.23

21.52

69.11

Earnings Per Share(Adj)-Unit Curr

Book Value-Unit Curr

Year

Mar 06

Mar 05

Mar 04

Mar 02

Mar 01

Sources of funds
Cash profit

22.68

23.04

24.5

6.98

6.07

6.39

5.16

1.23

10.95

6.72

2.61

5.08

20.32

7.07

9.44

Decrease in
gross block

Decrease in
investments

Decrease in
working capital

0.02
25.31

0
28.12

0
62.16

0.01
19.22

0
23.46

Decrease in
networth

0.04

0.04

5.25

Decrease in
loan funds

Increase in
gross block

24.59

26.27

44.7

11.12

17.07

Increase in
investments

Increase in
working capital

0.36

1.45

17.13

2.85

6.36

Dividend
Others
Total Outflow

0.32
0
25.31

0.32
0.04
28.12

0.32
0.01
62.16

0
0
19.22

0
0.03
23.46

Increase in
equity
Increase in
other networth
Increase in loan
funds

Others
Total Inflow
Application of funds
Cash loss

CROSS ANALYSIS

Current Assets
Hero Motors

1,504.57

2,882.58

1,013.49

936.78

913.27

Bajaj Motors

42.83

42.37

31.71

17.6

11.38

3500
3000
2500
2000

Current Assets
Hero Motors

1500

Bajaj Motors

1000
500
0
1

Net Sales
Hero

19,245.03

15,758.18

12,319.12

10,335.24

9,894.52

Bajaj

203.51

191.81

158.78

109.99

88.15

25000

20000

15000

Net Sales
Hero

10000

Bajaj

5000

0
1

Net Profit
HERO

1,927.90

2,231.83

1,281.76

967.88

857.89

BAJAJ

16.97

18.42

8.05

5.34

0.55

2,500.00

2,000.00

1,500.00
Hero
Bajaj
1,000.00

500.00

0.00
1

THANK YOU