BASF India Limited announces Q1 2020-2021 results
Mumbai, India – August 6, 2020 – BASF India Limited (BSE code: 500042) registered sales of Rs. 17,697.0 million for the first quarter ended June 30, 2020, as compared to Rs. 16,137.5 million in the corresponding quarter of the previous year, representing an increase of 10%.
The Company reported loss before tax (before exceptional items) of Rs. 378.0 million as compared to profit before tax (before exceptional items) of Rs. 175.6 million in the prior-year quarter.
“The nationwide lockdown impacted the operations of the Company with capacity utilization at manufacturing plants at their lowest levels in April 2020. Operations gradually improved during the quarter with the partial lifting of lockdown across the country. Low customer demand coupled with supply chain disruptions adversely impacted demand from automotive, construction and consumer durables,” said Narayan Krishnamohan, Managing Director, BASF India Limited. “The Agricultural Solutions business recorded strong growth on account of its diversified product portfolio and a favorable monsoon. Growing consumer demand for personal hygiene and health were drivers for a surge in demand for the Nutrition and Care segments of the Company,” he added.
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About BASF in India
BASF has successfully partnered India’s progress for more than 125 years. As of the end of 2019, BASF had 2,431 employees in India at 11 production sites and at 34 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 2019, BASF registered sales 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. More than 117,000 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 €59 billion in 2019. BASF shares are traded on the stock exchange in Frankfurt (BAS) and as American Depositary Receipts (BASFY) in the U.S. Further information at www.basf.com.
