BASF India Limited announces full-year 2023-2024 audited annual results
Mumbai, India – May 14, 2024 – BASF India Limited (BSE code: 500042) registered sales of Rs. 137,674.8 million for the financial year ending March 31, 2024, as compared to Rs. 136,447.7 million in the previous year.
The Company reported profit before tax (before exceptional items) of Rs. 7,589.5 million as compared to profit before tax (before exceptional items) of Rs. 5,280.9 million in the previous year.
In the quarter ending on March 31, 2024, the Company registered sales of Rs. 33,599.7 million, as compared to Rs. 32,768.9 million for the corresponding period of the previous year, an increase of 2%. Profit before tax (before exceptional items) stood at Rs 2,194.1 million for the quarter that ended on March 31, 2024, compared to Profit before tax (before exceptional items) of Rs. 969.2 million for the corresponding period of the previous year.
“Despite volatile market sentiment, the Company has demonstrated solid growth in Agricultural Solutions led by expansion of innovation products and Materials segments. We continue to efficiently manage working capital, while growing our operations in the country. We remain committed to the Company's corporate social responsibility programs.” said Alexander Gerding Managing Director, BASF India Limited & Head - BASF Group Companies in India.
“The team’s resilience in navigating through difficult environments led to strong business results for the company in fiscal year 2023-2024.”
The Board of Directors of the Company have recommended a dividend of Rs. 15 per equity share i.e., 150% for the financial year ending on March 31, 2024. This is subject to the approval of the shareholders at the forthcoming Annual General Meeting.
About BASF in India
BASF has successfully partnered India’s progress for more than 130 years. As of the end of 2023, BASF had 2,335 employees in India with 8 production sites and 42 offices throughout the country. The Innovation Campus Mumbai and the Coatings Technical Center in Mangalore are both part of BASF’s global technology platform. In 2023, BASF registered sales of approximately €2.4 billion to customers in India. Further information is available on www.basf.com/in.
