Balance Sheet BAL2023_Note_5_revised

5 Investments

(₹ In Crore)

Particulars

Non–current investments

Current investments

As at 31 March

As at 31 March

2023

2022

2023

2022

   

(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 BV 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

–

–

470,000,000

(5,000,000) Equity Shares of ₹ 10 each in Chetak Technology Ltd.

470.00

5.00

30,000,000

(–) Equity Shares of Reais 1 each in Bajaj Do Brasil Comercio De Motocicletas LTDA

48.00

–

30,000,000

(5,000,000) Equity Shares of ₹ 10 each in Bajaj Auto Consumer Finance Ltd.

30.00

5.00

6,000

(6,000) Equity Shares of Euro 100 each in Bajaj Auto Spain S.L.U.

5.17

5.17

Total (A)

1,786.43

1,248.43

–

–

   

(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.

2,072.04

1,753.87

–

–

     Unquoted:

20,576

(17,495) Compulsorily Convertible Preference Shares of ₹ 100 each in Yulu Bikes Private Ltd.

202.90

144.21

–

–

100

(–) Equity Shares of ₹ 1 each in Yulu Bikes Private Ltd.

0.08

–

–

–

Fair value

2,275.02

1,898.08

–

–

   

Investment carried at amortised cost

In Bonds and debentures:

     Quoted:

500

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

52.22

53.23

–

–

300

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

31.49

32.03

–

–

1,350

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

135.04

135.08

–

–

3,000

(3,000) 6.80% Rural Electrification Corporation Ltd. of ₹ 1,000,000 each

–

307.10

301.46

–

1,650

(1,650) 6.92% Rural Electrification Corporation Ltd. of ₹ 1,000,000 each

–

168.65

165.16

–

1,500

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

152.08

152.89

–

–

500

(500) 7.04% Power Finance Corporation Ltd. of ₹ 1,000,000 each

–

51.17

50.04

–

3,100

(3,100) 6.72% Power Finance Corporation Ltd. of ₹ 1,000,000 each

–

316.30

310.93

–

2,500

(2,500) 6.75% Power Finance Corporation Ltd. of ₹ 1,000,000 each

–

254.95

250.55

–

500

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

53.46

53.95

–

–

1,750

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

188.81

190.65

–

–

4,550

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

477.45

480.01

–

–

700

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

72.76

73.08

–

–

600

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

61.09

61.21

–

–

2,800

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

277.58

277.36

–

–

750

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

73.58

73.38

–

–

250

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

24.59

24.54

–

–

1,900

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

189.56

189.38

–

–

100

(100) 6.50% National Bank for Agriculture and Rural Development of ₹ 1,000,000 each

–

10.19

10.00

–

250

(250) 6.72% National Bank for Agriculture and Rural Development of ₹ 1,000,000 each

–

25.52

25.01

–

250

(250) 6.85% National Bank for Agriculture and Rural Development of ₹ 1,000,000 each

25.17

25.19

–

–

5,000

(5,000) 5.05% Bajaj Finance Ltd. of ₹ 1,000,000 each

–

499.94

499.88

–

1,250

(1,250) 7.20% Housing Development Finance Corporation Ltd. of ₹ 1,000,000 each

–

127.93

125.07

–

–

(2,500) 5.30% Housing Development Finance Corporation Ltd. of ₹ 1,000,000 each

–

–

–

250.93

Amortised cost

1,814.88

3,583.73

1,738.10

250.93

   

In Government Bonds and securities:

     Quoted:

5,000,000

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

52.61

53.80

–

–

26,500,000

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

278.53

284.42

–

–

10,000,000

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

100.30

100.34

–

–

5,000,000

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

50.13

50.14

–

–

7,464,200

(7,464,200) 7.77% Gujarat State Development Loan of ₹ 100 each

–

77.48

75.15

–

1,000,000

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

10.60

10.82

–

–

10,000,000

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

100.33

100.36

–

–

4,150,000

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

41.55

41.55

–

–

7,500,000

(7,500,000) 6.96% Karnataka State Development Loan of ₹ 100 each

75.54

75.59

–

–

1,000,000

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

10.68

10.90

–

–

5,000,000

(5,000,000) 7.95% Maharashtra State Development Loan of ₹ 100 each

–

52.07

50.43

–

Amortised cost

720.27

857.47

125.58

–

   

In Certificate of Deposit:

     Unquoted:

5,500

(–) Certificate of Deposit of ₹ 500,000 each of Axis Bank – 23.11.2023

–

–

261.93

–

2,000

(–) Certificate of Deposit of ₹ 500,000 each of Axis Bank – 29.11.2023

–

–

95.15

–

3,000

(–) Certificate of Deposit of ₹ 500,000 each of Bank of Baroda – 15.11.2023

–

–

143.16

–

4,000

(–) Certificate of Deposit of ₹ 500,000 each of Bank of Baroda – 30.11.2023

–

–

190.28

–

2,000

(–) Certificate of Deposit of ₹ 500,000 each of ICICI Bank – 30.11.2023

–

–

95.14

–

7,500

(–) Certificate of Deposit of ₹ 500,000 each of ICICI Bank – 17.11.2023

–

–

357.75

–

Amortised cost

–

–

1,143.41

–

   

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

–

–

–

7.55% HDFC Ltd. Fixed Deposit

–

–

300.00

–

–

7.55% HDFC Ltd. Fixed Deposit

–

–

200.00

–

–

7.90% HDFC Ltd. Fixed Deposit

–

–

400.00

–

–

7.55% Bajaj Finance Ltd. Fixed Deposit

–

–

300.00

–

–

7.90% Bajaj Finance Ltd. Fixed Deposit

–

–

200.00

–

Amortised cost

–

1,115.00

1,400.00

–

   

In Fixed maturity plans

     Unquoted:

44,000,000

(604,182,600) Units of Aditya Birla Sun Life Fixed Term Plan Direct Growth

46.79

44.06

–

736.77

–

(10,000,000) Units of DSP Fixed Maturity Plan Direct Growth

–

–

–

12.72

–

(625,557) Units of PGIM India Fixed Maturity Fund Direct Plan Growth

–

–

–

85.26

50,000,000

(468,000,000) Units of HDFC Fixed Maturity Plan

53.20

50.19

–

542.19

10,000,000

(471,000,000) Units of ICICI – Prudential Fixed Maturity Plan

–

11.51

12.28

615.44

74,996,250

(684,996,250) Units of Kotak Fixed Maturity Plan Growth

82.43

77.80

–

798.90

–

(105,000,000) Units of HSBC Fixed Maturity Plan Direct Growth

–

–

–

139.31

74,996,250

(489,996,250) Units of Nippon India Fixed Horizon Fund Growth

81.42

76.76

–

550.80

–

(40,000,000) Units of Invesco Fixed Maturity Plan Direct Growth

–

–

–

53.05

484,996,250

(749,996,250) Units of SBI Debt Fund Direct Plan Growth

523.90

494.79

–

342.56

–

(10,000,000) Units of Tata Fixed Maturity Plan Growth

–

–

–

13.12

–

(10,000,000) Units of UTI Fixed Maturity Plan Growth

–

–

–

13.53

Amortised cost

787.74

755.11

12.28

3,903.65

   

In Exchange Traded Funds

     Quoted:

8,724,846

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

1,005.69

953.97

–

–

15,940,436

(15,940,436) Bharat Bond ETF – April 2030

2,063.50

1,934.05

–

–

3,565,094

(3,565,094) Bharat Bond ETF – April 2031

413.72

387.70

–

–

4,282,638

(4,282,638) Bharat Bond ETF – April 2032

463.19

433.31

–

–

13,695,640

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

157.64

150.01

–

–

43,000,000

(43,000,000) Nippon India ETF Nifty SDL – April 2026

493.71

466.70

–

–

205,847,653

(64,996,750) Nippon India Nifty AAA CPSE Bond Plus SDL Apr 2027 Maturity 60:40 Index Fund

214.16

65.08

–

–

48,828,497

(–) Nippon India Nifty SDL Plus G–Sec Jun 2028 70:30 Index Fund

50.02

–

–

–

263,770,566

(263,770,566) Aditya Birla Sun Life Nifty SDL Plus PSU Bond Sep 2026 60:40 Index Fund

285.04

269.26

–

–

166,093,651

(166,093,651) Aditya Birla Sun Life Nifty SDL Apr 2027 Index Fund

178.14

167.84

–

–

226,004,362

(100,000,000) Aditya Birla Sun Life Crisil SDL Plus AAA PSU Apr 2027 60:40 Index Fund

236.38

100.05

–

–

76,795,997

(–) Aditya Birla Sun Life Crisil IBX 50:50 GILT Plus SDL Apr 2028 Index Fund

80.04

–

–

–

113,891,937

(113,891,937) Kotak Nifty SDL Apr 2027 Top 12 Equal Weight Index Fund

121.58

114.44

–

–

20,000,000

(20,000,000) Kotak Nifty SDL Apr 2032 Top 12 Equal Weight Index Fund

21.58

20.18

–

–

48,396,620

(–) Kotak Nifty SDL Plus AAA PSU Bond Jul 2028 60:40 Index Fund

50.03

–

–

–

298,359,352

(298,359,352) SBI CPSE Bond Plus SDL Sep 2026 50:50 Index Fund

320.04

302.05

–

–

183,849,514

(87,162,962) Axis Crisil SDL 2027 Debt Index Fund

192.58

87.13

–

–

192,038,100

(–) HSBC Crisil IBX 50:50 Gilt Plus SDL Apr 2028 Index Fund

200.11

–

–

–

191,980,955

(–) DSP Nifty SDL Plus G–Sec Jun 2028 30:70 Index Fund

200.11

–

–

–

81,937,188

(–) ICICI Prudential Nifty SDL Dec 2028 Index Fund

85.05

–

–

–

63,868,446

(63,868,446) ICICI Prudential Nifty SDL Sep 2027 Index Fund

68.06

64.04

–

–

Amortised cost

6,900.37

5,515.81

–

–

   

Investment carried at fair value through profit or loss

In Short-term Funds

     Quoted:

34,631,684

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

72.11

69.17

–

–

673,225,624

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

1,117.70

548.23

–

–

14,296,498

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

72.96

70.05

–

–

117,182,739

(–) Units of Bandhan Banking and PSU Debt Fund – Direct Plan – Growth (erstwhile IDFC Banking and and PSU Debt Fund – Direct Plan – Growth)

250.22

–

–

–

30,603,467

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

146.05

139.84

–

–

30,779,648

(30,779,648) Units of HSBC Short Duration Fund – Direct Plan– Growth

72.34

69.60

–

–

122,864,287

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

485.50

349.12

–

–

146,141,389

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

512.01

486.23

–

–

449,031,864

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

1,240.19

1,189.10

–

–

–

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

–

168.27

–

–

116,201,241.96

(–) Units of HSBC Banking and PSU Debt Fund – Direct Plan– Growth

250.17

–

–

–

Fair value

4,219.25

3,089.61

–

–

In Long Duration Bond Funds

     Quoted:

–

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

–

262.47

–

–

–

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

–

523.92

–

–

Fair Value

–

786.39

–

–

   

In Liquid and Overnight mutual funds

     Quoted:

–

(1,167,236) Bandhan Liquid Fund – Direct Plan –Growth

–

–

–

300.09

–

(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

   

Total (B)

16,717.53

17,601.20

4,419.37

4,969.13

   

Total (A+B)

18,503.96

18,849.63

4,419.37

4,969.13

   

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

2023

2022

2023

2022

     

     

Quoted

17,590.49

16,652.36

17,271.67

16,563.73

Unquoted

5,332.84

7,166.40

NA

NA

Total

22,923.33

23,818.76

   

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.