Analyst Presentation - BAL for 13th May 10

Analyst Presentation - BAL for 13th May 10 - 1 FY10 Total...

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FY10 FY09 Gr. Motorcycles 2,506,791 1,907,853 31% Total 2Wh's 2,511,643 1,919,625 31% 3 Wh's 340,937 274,529 24% Total Units 2,852,580 2,194,154 30% FY10 FY09 Gr. Motorcycles 1,781,768 1,276,470 40% tal 2Wh's 785,528 286,162 % TOTAL UNITS Domestic Units H1 Gr. H2 Gr. jaj 4,000 % 038,000 9% Domestic motorcycle market 2 Total 2Wh's 1,785,528 1,286,162 39% 3 Wh's 176,050 135,473 30% Total Units 1,961,578 1,421,635 38% FY10 FY09 Gr. Motorcycles 725,023 631,383 15% Total 2Wh's 726,115 633,463 15% 3 Wh's 164,887 139,056 19% Total Units 891,002 772,519 15% Units Export Units Bajaj 744,000 -5% 1,038,000 109% Others 2,777,000 22% 2,781,000 23% Total 3,521,000 15% 3,819,000 38% Market share for motorcycles in domestic market improved from 21% in H1 / FY10 to 27% in H2 / FY10
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Financial Results ( Rs. in crores ) Particulars FY10 FY09 Growth Net Sales 11509 8437 Other operating Income 412 373 Total Income 11921 8810 35% Expenditure Material ( net ) 8055 6449 Employee cost 400 354 Other expenditure 874 805 Total expenditure 9329 7608 23% EBITDA 2592 1202 116% % 21.7 13.6 Qtr % Q1 66.2 Q2 Q3 68.5 Q4 69.3 Full year 6 7.7 M aterial cost % 1 .5 Other expenditure 3 Interest 6 21 Depreciation 136 130 Operating Profit 2450 1051 133% % 20.6 11.9 Other income ( net ) 122 112 2572 1163 121% Exceptional items : Expenditure incured on VRS 183 183 Loss on derivative hedging instruments -22 22 Profit before tax 2411 958 152% Tax 708 302 Profit after tax 1703 656 160% Earnings per share 117.7 45.2 Q1 9.5 Q2 8.1 Q3 6.7 Q4 5.3 7.2 % Q1 19.5 Q2 22.0 Q3 Q4 22.9 2 1.7 EBITDA
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Summarized Cash flow Rs. in crores FY09 Cash and cash equivalents Opening balance 933 Closing balance 3263 Net change during the year 2330 arned from operations and treasury 30 4 Earned from operations and treasury 2730 Outflow : CAPEX 117 Investments : PTBAI & KTM 83 Income tax 700 Dividend 372 Working capital and others (872) Total outflow 400 Net change 2330
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OTORCYCLES MOTORCYCLES 5
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INDEX Industry Analysis and Projections Category Projections Bajaj Performance Brand Strategy New Initiatives and Outlook for the Yr 2010-11 6
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INDUSTRY ANALYSIS AND PROJECTIONS * 7
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INDUSTRY 15 year Trend Forecast for next 3 years Growth Drivers 8
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INDIAN MOTORCYCLE INDUSTRY (DOMESTIC + EXPORTS) 5217995 6201389 7091545 6544649 6805366 8446591 6,000,000 7,000,000 8,000,000 9,000,000 Motorcycle Industry – Volumes (Yearly Total) Yearly Total 802266 913956 1176779 1612895 2033147 2861061 3756409 4312751 0 1,000,000 2,000,000 3,000,000 4,000,000 5,000,000 96-97 97-98 98-99 99-00 00-01 01-02 02-03 03-04 04-05 05-06 06-07 07-08 08-09 09-10 9
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DOMESTIC MOTORCYCLE INDUSTRY 4725996 5826678 6586443 5756927 5826816 7340417 24% 46% 34% 15% 21% 23% 26% 20% 30% 40% 50% 5000000 6000000 7000000 8000000 Yearly Total 1396895 1733147 2537061 3396409 3898751 13% -13% 1% -20% -10% 0% 10% 0 1000000 2000000 3000000 4000000 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Volume Growth Y-O-Y 10
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MOTORCYCLE DOMESTIC INDUSTRY - PROJECTIONS 6,586,443 7,340,417 8,140,816 (11%) 9,259,922 (14%) 10,476,596 (13%) 8000000 10000000 12000000 Yearly Total 1,396,895 1,733,147 2,537,061 3,396,409 3,898,751 4,725,996 5,826,678 5,756,927 5,826,816 0 2000000 4000000 6000000 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 11
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GROWTH DRIVERS (YR 2010-11) GDP 8.5% Consumer Confidence 55% are Rural Crop Production (expected was 260 MT vs Actual near to 230 MT) MSP (Major Crops Y-O-Y) Sugarcane (33% hike) Paddy (11%) Wheat (8%) Rain (Quantity, Time and Spread) 45% are Urban and Semi Urban Salary rises 12
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CATEGORY PROJECTIONS 13
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