BASF India Limited announces Q3 2022-2023 results
Mumbai, India – January 31, 2023 – BASF India Limited (BSE code: 500042), registered sales of Rs. 28,981.0 million for the third quarter, which ended on December 31, 2022, as compared to Rs. 32,917.6 million in the corresponding quarter of the previous year.
The Company reported Profit before tax (before exceptional items) of Rs. 180.6 million as compared to profit before tax (before exceptional items) of Rs. 1,372.2 million in the prior-year quarter.
“We have been negatively impacted in the 3rd quarter by softening demand leading to margin pressure mainly in Chemicals and Materials segments. However, our diversified portfolio enabled us to partially mitigate this impact. Agricultural Solutions, Nutrition & Care and Surface Technologies segments delivered good results.”, said Alexander Gerding, Managing Director, BASF India Limited. “We will continue to focus on ensuring effective working capital management and maintaining optimum inventory levels to support our continued growth“, he added.
For the nine months ended on December 31, 2022, the Company registered sales of Rs. 103,678.8 million, as compared to Rs. 97,101.7 million for the corresponding period of the previous year, an increase of 7%. Profit before tax (before exceptional items) stood at Rs. 4,311.7 million for the nine months ended December 31, 2022, compared to profit before tax (before exceptional items) of Rs. 5,688.5 million for the corresponding period of the previous year. The Company has successfully completed the expansion of its Ultramid polyamide production capacity at the Panoli site in Gujarat in December 2022. This will enable it to further service the strong demand from the automotive applications, electrical, industrial products and consumer goods sector.
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.
