BASF India announces 15% increase in sales for Q2 2020-2021

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BASF India on a standalone basis, registered sales of Rs 23,958.0 meg for the second quarter, which ended on xxx September 2020, as compared to Rs twenty,743.3 million in the respective quarter of the previous year, representing an increase of 15%.

The company reported profit earlier tax (before infrequent items) of Rs 1,087.v 1000000 compared to profit before tax (before exceptional items) of Rs. 140.8 meg in the prior-year quarter.

For the half-year, which concluded on September thirty, 2020, the company registered sales of Rs 41,655.0 1000000, as compared to Rs 36,880.8 million for the corresponding menses of the previous year, an increase of 13%. Profit Before Taxation (before exceptional items) stood at Rs 709.v 1000000 for the half-year, compared to Turn a profit Earlier Tax (before exceptional items) of Rs 316.4 million for the previous year's corresponding flow. Profit Later Tax (after exceptional items) stood at Rs 3,818.3 million in the second half of 2020, compared to Profit After Tax (after exceptional items) of Rs 105.two meg posted in the corresponding catamenia of the previous year.

The Construction Chemicals business of the company was transferred to Chief Builders Solutions India effective 1 July 2020, for an overall consideration of Rs 5,951.half dozen million.

"The visitor bounced dorsum strongly from the previous quarter impacted by the Covid-xix lockdown, and continued on its path to profitable growth. Growth in volumes and results, were registered across segments on a comparable basis to previous twelvemonth with business improving on a month-to-month basis through the quarter," said Narayan Krishnamohan, managing director, BASF Bharat.

"Book growth through enhanced client-centric projects, improvements in operating margins, and efficient toll as well as working capital letter management enabled us to deliver college EBITDA and PBT before exceptional items. Additionally, exceptional proceeds of Rs. 424 crores were recorded in this quarter dominated by gains from divestiture of the structure chemicals business effective July 1st", he added.

The company has caused a 100% stake in BASF Performance Polyamides India from BASF Nederland BV and BASF SE on 18 August 2022 for an aggregate consideration of Rs 3,029.0 1000000. According to the said transaction, BASF Performance Polyamides Republic of india (BPPIPL) is now a wholly-owned subsidiary of the company.

BPPIPL is into the concern of manufacturing or trading of operation polyamides and has one manufacturing site in Panoli, Gujarat. It has a wide range of engineering plastics and serves automobiles, electrical, and consumer goods industries.

BASF  has successfully partnered Republic of india'due south progress for more than 125 years. Every bit of the end of 2019, BASF had 2,431 employees in Bharat at 11 production sites and 34 offices throughout the land. The Innovation Campus Mumbai and the Technical Support Centre in Mangalore are function of BASF'south global technology platform. In 2019, BASF registered sales of approximately EUR 1.iii billion to customers in India.

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