Annual Report 2003-04 View PDF - Bajaj Auto

Wind power project
A total of 138 windmills were set up during the last
three years by Bajaj Auto at Supa (Ahmednagar district
of Maharashtra) and Vankusavade (Satara district of
Maharashtra). These windmills have an installed
capacity of 65.2 MW; and generated 109 million units
of power during 2003-2004, valued at Rs.264 million.
This project, with a total capital expenditure of
Rs.2.94 billion, entitles Bajaj Auto to avail sales tax
incentives to the tune of Rs.518 million per year.
This benefit will be available for a further period of
four years. Considering the income tax and sales tax
benefits derived from this project over the last few
years, the initial investment has been paid back in
full. There were no new investments in wind power
during the year.
Consolidation of accounts and segment
reporting
The company also consolidated the financial
statements of Bajaj Auto, its subsidiaries, associates
and joint ventures in accordance with the relevant
accounting standards issued by The Institute of
Chartered Accountants of India. The consolidated
financials have been prepared for each business
segment and have been tabulated in Table 16.
TABLE 16: Segment Revenue and Segment
Results (Rs. million)
Segment
Revenue
Automotive
Insurance
Investment and others
Total
Less: Intersegment
revenue
Total
49,249 Automotive
3,704
3,578
56,531
264
56,267
Insurance
Investment and others
Total
Cautionary Statement
Segment Results
Profit/(loss) from each segment
before interest and tax
Less: Interest
Profit before tax
Statements in this Management Discussion and
Analysis describing the company's objectives,
projections, estimates and expectation may be
“forward looking statement” within the meaning of
6,777
37
2,992
9,806
9
9,797
applicable laws and regulations. Actual results might
differ materially from those either expressed or implied.
Annual Report 2003-04 I
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