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5 Investments

(₹ In Crore)

Non-current investments

Current investments

As at 31 March

As at 31 March

Particulars

2022

2021

2022

2021

(A) Investment in subsidiaries

  Investment carried at cost

  In subsidiaries

Unquoted:

1,980,000

(1,980,000 ) Equity Shares of Euro 100 each in Bajaj Auto International Holding B V Amsterdam, Netherlands

1,218.72

1,218.72

–

–

449,997

(449,997) Equity Shares of Thai Baht 100 each in Bajaj Auto
(Thailand) Ltd

10.54

10.54

–

–

411,875

(411,875) Equity Shares of USD 3 each in PT Bajaj Auto Indonesia

6.17

6.17

–

–

Less: Provision for diminution in the value of investment

2.17

2.17

–

–

4.00

4.00

–

–

5,000,000

(–) Equity Shares of ₹ 10 each in Chetak Technology Ltd.

5.00

–

5,000,000

(–) Equity Shares of ₹ 10 each in Bajaj Auto Consumer Finance Ltd.

5.00

–

6,000

(–) Equity Shares of Euro 100 each in Bajaj Auto Spain S.L.

5.17

–

Total (A)

1,248.43

1,233.26

–

–

(B) Other
Investments

Investment carried
at Fair Value through
OCI

In Equities:

Quoted:

3,500,000

(3,500,000) Equity Shares of ₹ 10 each in Bajaj Holdings &
Investments Ltd.

1,753.87

1,152.57

–

–

Unquoted:

17,495

(14,760) Compulsorily Convertible Preference Shares (CCPS) of ₹ 100 each in Yulu Bikes Private Ltd.

144.21

121.66

–

–

Fair value

1,898.08

1,274.23

–

–

Investment carried
at amortised cost

In Bonds and
debentures:

Quoted:

500

(500) 8.30% Rural Electrification Corporation Ltd. of ₹ 1,000,000 each

53.23

54.18

–

–

300

(300) 8.11% Rural Electrification Corporation Ltd. of ₹ 1,000,000 each

32.03

32.54

–

–

1,350

(1,350) 5.85% Rural Electrification Corporation Ltd. of ₹ 1,000,000 each

135.08

135.07

–

–

3,000

(–) 6.80% Rural Electrification Corporation Ltd. of ₹ 1,000,000 each

307.10

–

–

–

1,650

(–) 6.92% Rural Electrification Corporation Ltd. of ₹ 1,000,000 each

168.65

–

–

–

1,500

(1,500) 6.50% Power Finance Corporation Ltd. of ₹ 1,000,000 each

152.89

153.65

–

–

500

(–) 7.04% Power Finance Corporation Ltd. of ₹ 1,000,000 each

51.17

–

–

–

3,100

(–) 6.72% Power Finance Corporation Ltd. of ₹ 1,000,000 each

316.30

–

–

–

2,500

(–) 6.75% Power Finance Corporation Ltd. of ₹ 1,000,000 each

254.95

–

–

–

500

(500) 8.18% National Bank for Agriculture and Rural Development of
₹ 1,000,000 each

53.95

54.40

–

–

1,750

(1,750) 8.24% National Bank for Agriculture and Rural Development of ₹ 1,000,000 each

190.65

192.37

–

–

4,550

(4,550) 7.43% National Bank for Agriculture and Rural Development of ₹ 1,000,000 each

480.01

482.41

–

–

700

(700) 7.10% National Bank for Agriculture and Rural Development of
₹ 1,000,000 each

73.08

73.38

–

–

600

(600) 6.87% National Bank for Agriculture and Rural Development of
₹ 1,000,000 each

61.21

61.33

–

–

2,800

(2,800) 6.39% National Bank for Agriculture and Rural Development of ₹ 1,000,000 each

277.36

277.15

–

–

750

(750) 6.42% National Bank for Agriculture and Rural Development of
₹ 1,000,000 each

73.38

73.18

–

–

250

(250) 6.44% National Bank for Agriculture and Rural Development of
₹ 1,000,000 each

24.54

24.48

–

–

1,900

(1,900) 6.49% National Bank for Agriculture and Rural Development of ₹ 1,000,000 each

189.38

189.16

–

–

100

(–) 6.50% National Bank for Agriculture and Rural Development of
₹ 1,000,000 each

10.19

–

–

–

250

(–) 6.72% National Bank for Agriculture and Rural Development of
₹ 1,000,000 each

25.52

–

–

–

250

(–) 6.85% National Bank for Agriculture and Rural Development of
₹ 1,000,000 each

25.19

–

–

–

5,000

(–) 5.05% Bajaj Finance Ltd. of ₹ 1,000,000 each

499.94

–

–

–

1,250

(–) 7.20% Housing Development Finance Corporation Ltd. of ₹ 1,000,000 each

127.93

–

–

–

2,500

(–) 5.30% Housing Development Finance Corporation Ltd. of
₹ 1,000,000 each

–

–

250.93

–

Amortised cost

3,583.73

1,803.30

250.93

–

In Government
Bonds and securities:

Quoted:

5,000,000

(5,000,000) 8.03% Gujarat State Development Loan of ₹ 100 each

53.80

54.92

–

–

26,500,000

(26,500,000) 7.89% Gujarat State Development Loan of ₹ 100 each

284.42

290.00

–

–

10,000,000

(10,000,000) 6.49% Gujarat State Development Loan of ₹ 100 each

100.34

100.37

–

–

5,000,000

(5,000,000) 6.57% Gujarat State Development Loan of ₹ 100 each

50.14

50.15

–

–

7,464,200

(–) 7.77% Gujarat State Development Loan of ₹ 100 each

77.48

–

–

–

1,000,000

(1,000,000) 7.98% Karnataka State Development Loan of ₹ 100 each

10.82

11.03

–

–

10,000,000

(10,000,000) 6.53% Karnataka State Development Loan of ₹ 100 each

100.36

100.40

–

–

4,150,000

(4,150,000) 6.54% Karnataka State Development Loan of ₹ 100 each

41.55

41.55

–

–

7,500,000

(–) 6.96% Karnataka State Development Loan of ₹ 100 each

75.59

–

–

–

1,000,000

(1,000,000) 8.15% Maharashtra State Development Loan of ₹ 100 each

10.90

11.12

–

–

5,000,000

(–) 7.95% Maharashtra State Development Loan of ₹ 100 each

52.07

–

–

–

Amortised cost

857.47

659.54

–

–

In Fixed Deposits:

Unquoted:

–

5.25% HDFC Ltd. Fixed Deposit

500.00

–

–

–

–

5.30% HDFC Ltd. Fixed Deposit

500.00

–

–

–

–

5.25% HDFC Ltd. Fixed Deposit

115.00

–

–

–

–

7.82% Bajaj Finance Ltd. Fixed Deposit

–

–

–

107.84

Amortised cost

1,115.00

–

–

107.84

In Fixed maturity
plans

Unquoted:

–

(20,000,000) Units of Axis Fixed Term Plan Direct Growth

–

–

–

24.93

604,182,600

(1,762,182,600) Units of Aditya Birla Sun Life Fixed Term Plan Direct Growth

44.06

680.16

736.77

1,508.21

10,000,000

(525,000,000) Units of DSP Fixed Maturity Plan Direct Growth

–

11.77

12.72

646.07

625,557

(1,082,207) Units of PGIM India Fixed Maturity Fund Direct Plan Growth

–

78.65

85.26

57.55

468,000,000

(833,000,000) Units of HDFC Fixed Maturity Plan

50.19

500.87

542.19

517.87

471,000,000

(1,429,000,000) Units of ICICI – Prudential Fixed Maturity Plan

11.51

578.55

615.44

1,203.02

–

(154,000,000) Units of IDFC Fixed Term Plan Growth

–

–

–

192.52

684,996,250

(1,322,000,000) Units of Kotak Fixed Maturity Plan Growth

77.80

737.55

798.90

891.60

105,000,000

(170,000,000) Units of L&T Fixed Maturity Plan Direct Growth

–

128.56

139.31

80.55

489,996,250

(956,000,000) Units of Nippon India Fixed Horizon Fund Growth

76.76

508.33

550.80

679.77

40,000,000

(290,000,000) Units of Invesco Fixed Maturity Plan Direct Growth

–

48.95

53.05

313.34

749,996,250

(770,000,000) Units of SBI Debt Fund Direct Plan Growth

494.79

316.55

342.56

632.51

–

(70,000,000) Units of Sundaram Fixed Term Plan Direct Growth

–

–

–

87.56

10,000,000

(100,000,000) Units of Tata Fixed Maturity Plan Growth

–

12.10

13.12

112.42

10,000,000

(340,000,000) Units of UTI Fixed Maturity Plan Growth

–

12.52

13.53

412.88

Amortised cost

755.11

3,614.56

3,903.65

7,360.80

In Exchange Traded
Funds

Quoted:

8,724,846

(8,724,846) Bharat Bond ETF April 2025

953.97

904.90

–

–

15,940,436

(11,185,688) Bharat Bond ETF – April 2030

1,934.05

1,273.11

–

–

3,565,094

(–) Bharat Bond ETF – April 2031

387.70

–

–

–

4,282,638

(–) Bharat Bond ETF – April 2032

433.31

–

–

–

13,695,640

(13,695,640) Nippon India ETF Nifty CPSE Bond Plus SDL – 2024 Maturity

150.01

142.74

–

–

43,000,000

(–) Nippon India ETF Nifty SDL – April 2026

466.70

–

–

–

64,996,750

(–) Nippon India Nifty AAA CPSE Bond Plus SDL Apr 2027 Maturity 60:40 Index Fund

65.08

–

–

–

263,770,566

(–) Aditya Birla Sun Life Nifty SDL Plus PSU Bond Sep 2026 60:40 Index Fund

269.26

–

–

–

166,093,651

(–) Aditya Birla Sun Life Nifty SDL Apr 2027 Index Fund

167.84

–

–

–

100,000,000

(–) Aditya Birla Sun Life Crisil SDL Plus AAA PSU Apr 2027 60:40 Index Fund

100.05

–

–

–

113,891,937

(–) Kotak Nifty SDL Apr 2027 Top 12 Equal Weight Index Fund

114.44

–

–

–

20,000,000

(–) Kotak Nifty SDL Apr 2032 Top 12 Equal Weight Index Fund

20.18

–

–

–

298,359,352

(–) SBI CPSE Bond Plus SDL Sep 2026 50:50 Index Fund

302.05

–

–

–

87,162,962

(–) Axis Crisil SDL 2027 Debt Index Fund

87.13

–

–

–

63,868,446

(–) ICICI Prudential Nifty SDL Sep 2027 Index Fund

64.04

–

–

–

Amortised cost

5,515.81

2,320.75

–

–

Investment carried
at fair value through
profit or loss

In Short-term mutual
funds

Quoted:

34,631,684

(34,631,684) Units of DSP Banking & PSU Debt Fund –
Direct Plan – Growth

69.17

66.44

–

–

341,788,061

(341,788,061) Units of IDFC Corporate Bond Fund – Direct Plan -Growth

548.23

521.83

–

–

14,296,498

(14,296,498) Units of IDFC Super Saver Income Fund –
Short Term – Direct Plan – Growth

70.05

67.00

–

–

30,603,467

(30,603,467) Units of Kotak Bond Short Term Plan –
Direct Plan – Growth

139.84

133.06

–

–

30,779,648

(30,779,648) Units of L&T Short Term Opportunities Fund –
Direct Plan – Growth

69.60

66.64

–

–

92,496,457

(92,496,457) Units of Nippon India Floating Rate Fund –
Short Term – Direct Plan – Growth

349.12

332.88

–

–

146,141,389

(146,141,389) Units of ICICI Prudential Income Opportunities Fund – Direct Plan-Growth

486.23

467.67

–

–

449,031,864

(449,031,864) Units of HDFC Medium Term Opportunities Fund –
Direct Plan-Growth

1,189.10

1,130.82

–

–

47,617,832

(47,617,832) Units of Sundaram Banking & PSU Debt Fund –
Direct Plan- Growth

168.27

162.76

–

–

Fair value

3,089.61

2,949.10

–

–

In Long duration bond
funds

Quoted:

82,700,443

(82,700,443) Units of Nippon India Dynamic Bond Fund –
Direct Plan – Growth

262.47

251.02

–

–

83,348,103

(83,348,103) Units of L&T Triple Ace Bond Fund – Direct Plan -Growth

523.92

497.08

–

–

Fair value

786.39

748.10

–

–

In Liquid and
overnight mutual
funds

Quoted:

1,167,236

(1,236,693) IDFC Cash Fund – Direct Plan – Growth

–

–

300.09

307.44

–

(1,103,220) Axis Overnight Fund – Direct Plan – Growth

–

–

–

120.02

–

(1,202,383) Kotak Overnight Fund – Direct Plan – Growth

–

–

–

132.01

847,353

(–) SBI Overnight Fund – Direct Plan -Growth

–

–

293.30

–

19,379,916

(–) Nippon India Overnight Fund – Direct Plan – Growth

–

–

221.16

–

Fair value

–

–

814.55

559.47

Total (B)

17,601.20

13,369.58

4,969.13

8,028.11

Total (A+B)

18,849.63

14,602.84

4,969.13

8,028.11

Aggregate provision
for diminution in value
of investments

2.17

2.17

–

–

(₹ In Crore)

Particulars

Book value

Market value

As at 31 March

As at 31 March

2022

2021

2022

2021

Quoted

16,652.36

10,192.83

16,563.73

10,140.04

Unquoted

7,166.40

12,438.12

NA

NA

23,818.76

22,630.95

Notes to Investments

1. Investments made by the Company other than those with a maturity of less than one year, are intended to be held for long-term. On an assessment of the expected credit loss due to significant changes in risk profile, no material provisions are required to be made.

2. In absence of an active market and non availability of quotes on a recognised stock exchange, investment in fixed maturity plans and fixed term plans though listed on recognised stock exchanges are disclosed as unquoted. Other mutual funds, though unlisted, are quoted on recognised stock exchanges at their previous day NAVs which is the quote for the day.

3. Refer note 1 (6) for accounting policy on investments and note 33 for credit risk management related to investments.