BASF India Limited announces Q3 FY 2020-2021 results
Mumbai, India – February 9, 2021 – BASF India Limited (BSE code: 500042), registered sales of Rs. 24,243.5 million for the third quarter, which ended on December 31, 2020, as compared to Rs. 20,143.8 million in the corresponding quarter of the previous year, representing an increase of 20%.
The Company reported Profit before tax (before exceptional items) of Rs. 1,880.0 million as compared to loss before tax (before exceptional items) of Rs. 240.4 million in the prior-year quarter.
BASF Performance Polyamides India Private Limited (BPPIPL), a 100% subsidiary, was proposed to be merged with the Company. Following approval from the National Company’s Law Tribunal in Mumbai, the Company successfully completed the merger on February 1, 2021. The polyamides business will be integrated with the Company’s Performance Materials business.
“The Company recorded strong volume growth leveraging close customer collaboration amidst robust demand recovery in its core markets,” said Narayan Krishnamohan, Managing Director, BASF India Limited. “We significantly improved profitablity through our continued focus on margin improvement, fixed cost management and working capital optimisation“, he added.
In the first nine months of the financial year, the Company registered sales of Rs. 65,898.5 million, as compared to Rs. 57,024.6 million for the corresponding period of the previous year, an increase of 16%. Profit before tax (before exceptional items) stood at Rs. 2,589.5 million for the nine months that ended on December 31, 2020, compared to profit before tax (before exceptional items) of Rs. 76.0 million for the corresponding period of the previous year.
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.
