Better Off without Piaggio

Better Off without Piaggio Hansavivek BAJAJ AUTO has had another good year when it registered all round further impressive growth in production, sales and profits. Board has recommended a gift of shares on a one-for- one basis by capitalising Rs 4.70 crore from reserves besides stepping up dividend by 5 points to 30 per cent. Company achieved production of 1,97,681 scooters against 1,32,336 in previous year. Production of 'Bajaj M 50' motorcycles was 20,103 (3,850) and of three-wheelers 25,104 (18,501). Sales and other income expanded from Rs 94.76 crore to Rs 150.86 crore and with margins widened gross profit more than doubled to Rs 31.88 crore (Rs 15.41 crore). Even alter higher provisions for depreciation and taxation net profit stood at Rs 9.34 crore (Rs 4.61 crore). Enhanced distribution is covered a hefty 6.62 times against 3.91 times previously.