BASF India Limited announces Q2 2023-2024 results
Mumbai, India – November 10, 2023 – BASF India Limited (BSE code: 500042), registered sales of Rs. 37,066.0 million for the second quarter, which ended on September 30, 2023, as compared to Rs. 35,819.9 million in the corresponding quarter of the previous year, representing an increase of 3.5%.
The Company reported Profit before tax (before exceptional items) of Rs. 2,002.7 million as compared to profit before tax (before exceptional items) of Rs. 1,489.7 million in the prior-year quarter.
For the half-year ended on September 30, 2023, the Company registered sales of Rs. 70,812.5 million, as compared to Rs. 74,697.8 million for the corresponding period of the previous year, a decrease of 5.2%. Profit before tax (before exceptional items) stood at Rs. 3,521.4 million for the half-year, compared to Profit Before Tax (before exceptional items) of Rs. 4,131.1 million for the corresponding period of the previous year. Profit after tax (after exceptional items) stood at Rs. 2,617.8 million in the second half of 2023, as compared to Profit after tax (after exceptional items) of Rs. 3,098.6 million reported in the corresponding period of the previous year.
"The Company saw a strong double digit volume growth, offset by lower price realization resulting in marginal increase in revenue. Improved sales and margins in the Agricultural Solutions business contributed to the ~34% growth in PBT bEI vs. corresponding quarter of the previous year", said Alexander Gerding, Managing Director, BASF India Limited. "We continue to sweat our assets and maintain financial discipline with robust working capital control", he added.
The Board has also approved the transfer of its Coatings business into a 100% Wholly Owned Subsidiary to capture the benefits of a new customized ERP for the Coatings business.
About BASF
At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. Around 111.000 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 comprises six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. BASF generated sales of €78.6 billion in 2021. 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.
