BASF India Limited announces Q3 results for FY 2019-2020

Mumbai, India – February 11, 2020 – BASF India Limited (BSE code: 500042) registered sales of Rs. 20,143.8 million for the third quarter of 2019 which ended on December 31, 2019, as compared to Rs. 14,049.9 million in the corresponding quarter of the previous year, representing an increase of 43%.

The Company reported loss before tax (before exceptional items) of  Rs. 240.4 million as compared to loss before tax (before exceptional items) of Rs. 632.5 million in the prior-year quarter. 

Further, the Board of Directors of the Company approved the proposal to transfer its Construction Chemicals business to Master Builders Solutions India Pvt Ltd, a fellow subsidiary company, at a consideration of Rs. 5,951.6 million, subject to the approval of the shareholders of the Company and other required approvals. The transaction is expected to close by the second quarter of the financial year 2020/21. 

The Company’s Construction Chemicals business, which was reported under Surface Technologies, generated sales of Rs. 4,835.2 million for the year ended March 31, 2019.

“Despite the backdrop of weak industrial and automotive growth, we were able to increase revenues for the Company on account of change in business model and price management,” said Narayan Krishnamohan, Managing Director, BASF India Limited. “With improvement in margins, we were able to minimize our losses to Rs. 240.4 million as compared to Rs. 632.5 million in corresponding quarter of previous year.”

In the first nine months of the financial year, the Company registered sales of Rs. 57,024.6 million, as compared to Rs. 47,076.7 million for the corresponding period of the previous year, an increase of 21%. Profit before tax (before exceptional items) stood at Rs. 76.0 million for the nine months that ended on December 31, 2019, compared to loss before tax (before exceptional items) of Rs. 163.0 million for the corresponding period of the previous year. 

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About BASF in India

BASF has successfully partnered India’s progress for more than 125 years, with BASF India Limited celebrating 75 years of incorporation in 2019. As of the end of 2018, BASF had 2,757 employees in India at 12 production sites and at 21 offices throughout the country. The Innovation Campus Mumbai and the Technical Support Center in Mangalore are both part of BASF’s global technology platform. In 2018, BASF registered sales of approximately €1.4 billion to customers in India. Further information is available on the Internet at https://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 six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. BASF generated sales of more than €60 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.