BASF India Limited announces Audited Financial Results for FY 2020-2021
Mumbai, India – May 11, 2021 – BASF India Limited (BSE code: 500042) registered sales of Rs. 95,583.4 million for the financial year ending March 31, 2021, as compared to Rs. 75,945.6 million in the previous year, representing an increase of 26%.
The Company reported profit before tax (before exceptional items) of Rs. 4,378.7 million as compared to profit before tax (before exceptional items) of Rs. 423.6 million in the previous year.
In the quarter ending on March 31, 2021, the Company registered sales of Rs. 28,055.8 million, as compared to Rs. 18,921.0 million for the corresponding period of the previous year, an increase of 48%. Profit before tax (before exceptional items) stood at Rs 1,706.1 million for the quarter that ended on March 31, 2021, compared to Profit before tax (before exceptional items) of Rs. 347.6 million for the corresponding period of the previous year.
“Strong growth in volumes and price realizations across the portfolio enabled us register a growth of 48% over previous year in the quarter ending March 2021.” said Narayan Krishnamohan, Managing Director, BASF India Limited. “Despite the industrial slowdown and overall GDP decline in FY21, we achieved record sales and profits by enhancing our engagement and collaboration with customers while maintaining a sustained focus on operating margins, costs and working capital.” he added.
The Board of Directors of the Company have recommended a special dividend of Rs. 5/- per equity share i.e. 50% due to the portfolio restructuring measures. This is in addition to a final dividend of Rs. 5/- per equity share i.e. 50% for the financial year ended 31st March 2021. The aggregate dividend would be Rs. 10/- per equity share i.e. 100%, which is subject to the approval of the shareholders at the forthcoming Annual General Meeting.
The Company has accounted the acquisition of BPPIPL (BASF Performance Polyamides India Private Limited, as common control transaction effective February 1, 2020 (i.e. the date of global acquisition of Solvay Polyamides business by BASF SE). Accordingly, the financial statements of the Company for the year ended March 31, 2020 have been restated to include results of erstwhile BPPIPL with effect from February 1, 2020 (i.e. the common control acquisition date). Hence, the figures for the current year ended March 31, 2021 are not strictly comparable with figures for the previous year ended March 31, 2020.
About BASF in India
BASF has successfully partnered India’s progress for more than 130 years. As of the end of 2020, BASF had 2,254 employees in India at 8 production sites and at 39 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 2020, BASF registered sales of approximately €1.6 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 110,000 employees in the BASF Group contribute 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 2020. 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.
