BASF India Limited announces FY 2017/2018 Audited Annual Results
May 4, 2018, Mumbai, India – BASF India Limited (BSE code: 500042) on acomparable basis, registered sales of Rs. 55,834 million for the financial year ended March 31, 2018, representing an increase of 10%* over the previous year. The Company reported Profit After Tax (after exceptional items) of Rs. 2,465 million ascompared to Loss After Tax (after exceptional items) of Rs. 141.3 million in the previous year.
"Our measures to grow above the market and to boost operational efficiency haveresulted in better operating results for BASF India Limited. Recovery of theeconomy, following demonetization and the implementation of the GST, appears tobe robust, and contributed to improved performance,” said Dr. Raman Ramachandran, Chairman and Managing Director, BASF India Limited.
For the quarter ended March 31, 2018, the Company, on a comparable basis,registered sales of Rs. 13,435.6 million representing an increase of 5%* over thecorresponding quarter of the previous year. Net Profit After Tax (after exceptionalitems) stood at Rs. 659.9 million for the quarter ended March 31, 2018, as comparedto Net Profit After Tax (after exceptional items) of Rs. 425.5 million posted in thecorresponding quarter of the previous year.
In view of the improvement in the operational and financial performance of thecompany, the Directors have recommended a dividend payment of Rs. 3/- per equityshare of Rs.10/- each (i.e. 30%) for the financial year ended March 31, 2018, subjectPage 2 P123/18eto shareholders’ approval at the forthcoming Annual General Meeting.
* As per Indian Accounting Standard 18 on Revenue and Schedule III of the Companies Act, 2013,Revenue from Operations for the period July 1, 2017 to March 31, 2018 does not include Goods and Service Tax (GST), however Revenue from Operations till the period ended June 30, 2017 and yearended March 31, 2017 includes Excise Duty. Revenue from Operations has been adjusted for GST/Excise duty for the relevant period(s) for more coherent comparison.
About BASF in India
BASF has successfully partnered India’s progress for more than 125 years, with all global businesses maintaining a presence in India today, except for Oil & Gas. At the end of 2017, BASFin India had 2,313 employees at 11 production sites and at offices throughout the country, as well as at its Innovation Campus Mumbai and at R&D centers in Mangalore. In 2017, BASF registeredsales of approximately €1.3 billion to customers in India. Further information is available on the Internet at www.basf.com/in.
About BASF
At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. The more than 115,000 employees in the BASF Group work on contributing to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into five segments: Chemicals, Performance Products, Functional Materials & Solutions, Agricultural Solutions and Oil & Gas. BASF generated sales of €64.5 billion in 2017. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (BAS). Further information at www.basf.com.
