BASF India Limited announces full-year 2019-2020 audited annual results
Mumbai, India – May 22, 2020 – BASF India Limited (BSE code: 500042) registered sales of Rs. 75,510.5 million for the financial year which ended on March 31, 2020, as compared to Rs. 60,256.7 million in the previous year, representing an increase of 25%.
The Company reported profit before tax (before exceptional items) of Rs. 371.1 million as compared to loss before tax (before exceptional items) of Rs. 542.0 million in the previous year.
In the quarter ending on March 31, 2020, the Company registered sales of Rs. 18,485.9 million, as compared to Rs. 13,180.0 million for the corresponding period of the previous year, an increase of 40%. Profit before tax (before exceptional items) stood at Rs. 295.1 million for the quarter that ended on March 31, 2020, compared to loss before tax (before exceptional items) of Rs. 379.0 million for the corresponding period of the previous year.
“Sales as well as operational profits across segments showed an improvement compared to the corresponding quarter in the previous year. Successful execution of projects with customers drove profitable growth despite ongoing slowdown, especially in the automotive sector,” said Narayan Krishnamohan, Managing Director, BASF India Limited. “A strong focus on margins, operational costs and working capital management improved cashflow from operations despite the adverse impact of the lockdown towards the end of the quarter,” he added.
The Board of Directors of the Company has recommended a dividend of Rs. 3/- per equity share i.e. 30% for the financial year ending on March 31, 2020, subject to the approval of the shareholders at the forthcoming Annual General Meeting.
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