BASF India, a multi-sectoral company, registered sales of Rs 136,447.7 million (Rs 136.44 billion) for the financial year ended March 31, 2023, as compared to Rs 130,997.3 million (Rs 130.99 billion) in the previous year, an increase of 4%. The company reported profit before tax (before exceptional items) of Rs 5,280.9 million (Rs 5.28 billion) as compared to profit before tax (before exceptional items) of Rs 7,473.6 million (Rs 7.47 billion) in the previous year.
For the quarter ended on March 31, 2023, the company registered sales of Rs. 32,768.9 million (Rs 32.76billion), as compared to Rs. 33,895.6 million (Rs 33.89 billion) for the corresponding period of the previous year, an decrease of 3%. Profit before tax (before exceptional items) stood at Rs. 969.2 million for the quarter that ended on March 31, 2023, compared to profit before tax (before exceptional items) of Rs. 1,785.1 million (Rs 1.78 billion) for the corresponding period of the previous year.
“Despite macroeconomic challenges, our company has shown resilience with our agricultural solutions, nutrition and care as well as surface technologies segments seeing consistent growth. We continue to efficiently manage working capital while increasing operations” said Alexander Gerding, managing director, BASF India. “We are pleased to see that the growth witnessed by the company over the years has also empowered us to contribute substantially for corporate social responsibility focused projects,” he added.
The board of directors have recommended a dividend of Rs 8 per equity share, i.e. 80% for the financial year ended 31 March 2023. This is subject to the approval of the shareholders at the forthcoming annual general meeting.
BASF’s portfolio comprises six segments: chemicals, materials, industrial solutions, surface technologies, nutrition & care and agricultural solutions.