There is no announcement from the company so far in this regard. The board meeting 17 May 2007, will consider FY 2007 (year ended 31 March 2007) results and a dividend.
Meanwhile, Bajaj Auto continued its downward spiral in motorcycle sales for the third consecutive month this year, with its April numbers, including exports, declining by 13% compared to the same month last year. The company said its bike sales in April stood at 1,64,304 units against 1,88,518 units (inclusive of exports) in the same month last year, down 13%. Total two-wheeler sales also registered a dip of 13% at 1,65,692 units against 1,90,964 units last year, BAL said.
Bajaj Auto’s demerger proposal, intended to unlock shareholder value by splitting the manufacturing and financial assets of Bajaj Auto into two separate companies, may also follow the provisions of the income tax legislation to ensure that both BAL and its shareholders are spared from capital gains tax, as per a media report.
Three-wheeler sales, however, were up by 15% at 24,360 units as against 21,159 units in the corresponding month last year, the company added. BAL said exports during the month jumped by 64%