Notes to Standalone Financial
Standalone_Note39_Rev

39   Disclosure of transactions with related parties as required by the Indian Accounting Standard 24

(₹ In Crore)

Name of related party and Nature of relationship

Nature of transaction

2024–25

2023–24

Transaction value

Outstanding amounts carried in the Balance Sheet

Transaction value

Outstanding amounts carried in the Balance Sheet

   

A

Subsidiaries:

PT.Bajaj Auto Indonesia

Contribution to equity (411,875 shares of USD 3 each)

–

6.17

–

6.17

(99.25% shares held by Bajaj Auto Ltd.)

Provision for diminution in value of investment

–

(2.17)

–

(2.17)

Bajaj Auto International Holdings BV (Fully owned subsidiary)’

Contribution to equity (1,980,000 shares of Euro 100 each)

–

1,218.72

–

1,218.72

Contribution to capital and/or Loan Amount*

1,043.02

1,043.02

–

–

Interest Accrued on loan

7.07

7.07

–

–

Bajaj Auto (Thailand) Ltd. (Fully owned subsidiary)

Contribution to equity (449,997 shares of THB 100 each)

–

10.54

–

10.54

Services received

13.78

(4.23)

12.09

–

Bajaj Auto Technology Ltd. (Fully owned subsidiary)

Contribution to equity (470,000,000 shares of ₹ 10 each)

–

470.00

–

470.00

Services received (including reimbursement of expenses )

-   Billed

76.96

(20.13)

45.59

–

-   Unbilled

10.66

(10.66)

–

–

Services rendered

-   Billed

25.12

–

16.84

–

-   Unbilled

7.82

7.82

–

–

Sales (including capital asset)

–

–

5.34

–

Purchases (including capital items)

0.65

–

204.69

(33.47)

Sale of BATL assets to BAL

–

–

147.58

–

Bajaj Auto Credit Ltd. (Fully owned subsidiary)

Contribution to capital (2,400,000,000 shares of ₹ 10 each)

2,105.00

2,400.00

265.00

295.00

Services received (including reimbursement of expenses)

0.11

–

0.31

–

Services rendered (including reimbursement of expenses)

15.81

–

1.57

(0.10)

Bajaj Do Brasil Comercio De Motocicletas Ltda

Contribution to equity (57,500,000 shares of Reais 1 each)

8.53

93.52

36.98

84.99

Sale of material

327.03

200.05

31.90

26.36

Bajaj Auto Spain S.L.U.

Contribution to equity (6,000 shares of Euro 100 each)

–

5.16

–

5.16

Services received

15.37

(0.59)

13.62

–

    

B.

Associates, joint ventures and investing parties:

Bajaj Holdings & Investment Ltd. (Investing party – holds 34.21% shares of Bajaj Auto Ltd.)

Investment in shares by BHIL [95,547,251 shares of ₹ 10 each]

–

(95.55)

–

(95.55)

Purchase of shares by BAL [3,500,000 shares of ₹ 10 each]

–

1,111.49

–

1,111.49

Buyback of shares

–

–

1,179.80

–

Dividend paid

764.38

–

1,354.18

–

Dividend received

30.10

–

43.05

–

Business support service received

33.54

–

31.83

–

Business support service rendered

1.28

–

1.10

–

   

C

Key management personnel and their relatives:

Rajiv Bajaj (Managing Director)

Short-term employee benefits (including Commission)

54.85

(35.21)

50.30

(32.61)

Post-employment benefits

3.73

–

3.46

–

Rent paid for premises

3.24

–

3.08

–

Deposit paid against premises taken on lease

–

1.92

–

1.92

Pradeep Shrivastava (Executive Director)

Short-term employee benefits

27.34

–

14.70

–

Post-employment benefits

0.99

–

0.92

–

Equity shares issued pursuant to stock option scheme

10.53

–

6.26

–

Fair value of stock options granted

2.62

–

1.79

–

Rakesh Sharma (Executive Director)

Short-term employee benefits

15.94

–

11.29

–

Post-employment benefits

0.87

–

0.79

–

Equity shares issued pursuant to stock option scheme

1.20

–

–

–

Fair value of stock options granted

2.62

–

1.79

–

Madhur Bajaj

Rent paid for premises

–

–

0.29

–

Sitting fees

–

–

0.05

–

Commission

–

–

0.16

(0.16)

Sanjiv Bajaj

Sitting fees

0.08

–

0.06

–

Commission

0.25

(0.25)

0.19

(0.19)

Niraj Bajaj (Chairman)

Sitting Fees

0.13

–

0.11

–

Commission

0.41

(0.41)

0.35

(0.35)

Rishabnayan Bajaj

Remuneration including perquisites

0.44

–

0.39

–

Estate of Rahul Bajaj

Rent paid for premises

–

–

0.25

–

    

D

Other entities/persons: (Employee benefit plans, independent directors, and entities where persons under Ind AS 24 para 9(a) hold significant influence, control, joint control, or acts as KMP )

Bajaj Finserv Ltd.

Business support service rendered

0.11

–

0.38

–

Bajaj Finance Ltd.

Investment in shares by BFL (150 shares of ₹ 10 each) – ₹ 1,500

–

–

–

–

Service rendered

30.30

(0.06)

37.40

(0.09)

Service received

1.68

(0.33)

4.43

–

Security deposit received

–

(0.21)

–

(0.21)

Investment in/(redemption of) fixed deposit

(220.00)

280.00

–

500.00

Investment in/(redemption of) Secured Non Convertible Debentures

–

–

(500.00)

–

Interest income/(reversal) on fixed deposit

29.76

15.39

37.82

19.92

Interest income/(reversal) on Secured Non Convertible Debentures

–

–

2.70

–

Bajaj Allianz General Insurance Co. Ltd.

Insurance premiums paid

26.21

12.66

25.51

0.92

Bajaj Allianz Life Insurance Co. Ltd.

Investment in shares by BALIC (125,000 shares of ₹ 10 each)

–

(0.13)

–

(0.13)

Insurance premiums paid/(refunded)

1.26

–

1.59

–

Dividend paid

1.00

–

1.75

–

Bajaj Housing Finance Ltd.

Services rendered

2.38

–

2.03

–

Security deposit received

–

(0.03)

–

(0.03)

Bajaj Electricals Ltd.

Purchases (including services received)

–

(0.11)

0.01

(0.12)

Hind Musafir Agency Ltd.

Services received

12.36

(0.02)

17.36

0.13

Hindustan Housing Co. Ltd.

Maintenance charges paid

0.23

0.03

0.27

0.04

KTM AG

Sale of vehicles and material

102.22

(91.15)

548.63

(49.11)

Services rendered and other debits

9.46

–

36.83

–

Purchases (including purchases of accessories) and other credits

1.76

–

0.46

–

KTM Sportmotorcycle GmbH

Sale of vehicles and material

452.60

59.37

1,133.33

32.00

Royalty paid and payable

-   Billed

24.43

–

36.38

(8.78)

-   Unbilled

11.10

(11.10)

–

–

Services rendered and other debits

0.24

–

0.09

–

Purchase of accessories, merchant purchase and other credits

2.83

–

0.49

–

KTM Sportmotorcycle India Pvt. Ltd.

Royalty paid and payable

-   Billed

6.23

–

9.19

(2.26)

-   Unbilled

2.79

(2.79)

–

–

Services rendered and other debits

-   Billed

4.98

(0.42)

5.95

1.41

-   Unbilled

1.65

1.65

–

–

KTM Forschungs & Entwicklungs Gmbh

Sale of vehicles and material

2.13

0.11

4.33

0.01

Husqvarna Motorcycles GmbH

Sale of vehicles and material

89.43

(0.20)

224.45

7.41

Royalty paid and payable

-   Billed

0.47

–

0.38

(0.25)

-   Unbilled

0.05

(0.05)

–

–

Purchase of accessories and other credits

0.02

–

0.02

–

Maharashtra Scooters Ltd.

Investment in shares by MSL (6,879,333 shares of ₹ 10 each)

–

(6.88)

–

(6.88)

Dividend paid

55.03

–

97.50

–

Buyback of shares

–

–

84.94

–

Purchases

0.18

–

1.48

(0.01)

Services rendered

0.03

–

0.07

–

Rishabh Family Trust

Rent paid for premises

0.36

(0.32)

–

–

Forbes Marshall Pvt Ltd

Purchases

0.06

–

–

–

Bajaj Auto Employees Group Gratuity Fund

Gratuity contribution

3.70

–

1.91

–

Bajaj Auto Senior Staff Group Gratuity Fund

Gratuity contribution

1.00

–

1.50

–

Bajaj Auto Employees Superannuation Fund

Superannuation contribution

8.37

–

8.41

–

Bajaj Auto Ltd. Provident Fund

Provident fund contribution (Employer's share)

45.85

(1.15)

45.23

(0.02)

Kiska GmbH

Services received

1.90

–

3.92

–

D J Balaji Rao

Sitting fees

–

–

0.10

–

Commission

–

–

0.32

(0.32)

Naushad D Forbes

Sitting fees

0.18

–

0.16

–

Commission

0.57

(0.57)

0.50

(0.50)

Anami N. Roy

Sitting fees

0.16

(0.01)

0.14

–

Commission

0.50

(0.50)

0.44

(0.44)

Pradip Shah

Sitting fees

0.17

(0.01)

0.15

–

Commission

0.54

(0.54)

0.47

(0.47)

Vinita Bali

Sitting fees

0.11

–

–

–

Commission

0.35

(0.35)

–

–

Abhinav Bindra

Sitting fees

0.15

–

0.12

–

Commission

0.47

(0.47)

0.38

(0.38)

Lila Poonawala

Sitting fees

–

–

0.07

–

Commission

–

–

0.22

(0.22)

Sangita Reddy

Sitting fees

0.04

–

–

–

Commission

0.13

(0.13)

–

–

CSEP Research Foundation

CSR Expenses

–

–

1.70

–

     

Transaction values are excluding taxes and duties.

Transactions where the Company act as an intermediary and passed through Company’s books of accounts are not in nature of related party transaction and hence are not disclosed.

Name of the related party and nature of the related party relationship where control exists have been disclosed irrespective of whether or not there have been transactions between the related parties. In other cases, disclosure has been made only when there have been transactions with those parties.

Related parties as defined under clause 9 of the Indian Accounting Standard – 24 ‘Related Party Disclosures’ have been identified based on representations made by key managerial personnel and information available with the company.

All above transactions are in the ordinary course of business and on arms’ length basis. All outstanding balances are unsecured, repayable in cash, and no impairment or provision has been recorded against such balances.

*The loan has been/will be utilised by Bajaj Auto International Holdings BV (BAIHBV) for the purpose for which it was obtained (refer footnote to note 6 of standalone financial statements for details, terms, and conditions). For the year, the Company has not recorded any impairment on loans due from BAIHBV (31 March 2024: ₹ Nil). The outstanding amount does not reflect the impact of forex mark-to-market (MTM) changes.