BASF India’s Q2 2023-24 results out

Sales of Rs 3,706.6 crore, up from Q2 last year

November 20, 2023

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BASF India Limited, – which deals in chemicals, materials, industrial solutions, surface technologies, nutrition and care, and agricultural solutions – registered sales of Rs. 37,066 million (Rs 3,706.6 crore) for the second quarter, which ended on September 30, 2023, as compared to Rs. 35,819.9 million (Rs. 3,581.99 crore) 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 (Rs. 200.27 crore) as compared to profit before tax (before exceptional items) of Rs 1,489.7 million (Rs 148.97 crore) in the prior-year quarter.

For the half-year ended on September 30, 2023, the company registered sales of Rs. 70,812.5 million (Rs. 7,081.25 crore), as compared to Rs. 74,697.8 million (Rs. 7,469.78 crore) 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 (Rs. 352.14 crore) for the half-year, compared to profit before tax (before exceptional items) of Rs. 4,131.1 million (Rs. 352.14 crore) for the corresponding period of the previous year.

Profit after tax (after exceptional items) stood at Rs. 2,617.8 million (Rs. 261.78 million) in the second half of 2023, as compared to profit after tax (after exceptional items) of Rs. 3,098.6 million (Rs. 309.86 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.

BASF’s offerings comprise six segments: Chemicals, materials, industrial solutions, surface technologies, nutrition & care and agricultural solutions.

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