BASF India announces Q1 FY 21-22 results

Digital outreach for products helped increase their visibility and demand

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BASF India declared its Q1 FY 21-22 results
BASF India declared its Q1 FY 21-22 results

BASF India registered sales of Rs 30,129.2 million for the first quarter ended 30 June 2021, as compared to Rs 17,864.9 million in the corresponding quarter of the previous year, representing an increase of 69%.

The company reported profit before tax (before exceptional items) of Rs 2,484.4 million as compared to a loss before tax (before exceptional items) of Rs 406.9 million in the prior year quarter.  

“We saw a strong start to FY 21-22, and the company recorded growth in revenues and margins compared to the corresponding quarter of the previous year, which was impacted by the COVID-19 induced lockdown. The intense second wave of the pandemic led to lockdowns in several states impacting industrial activity and businesses, especially related to the automotive sector. However, the company managed to outperform the preceding quarter in most business segments aided by enhanced customer engagement and initiatives that enhanced supply chain resilience.” said Narayan Krishnamohan, Managing Director, BASF India. “Ongoing focus on margin improvement and cost management delivered substantially increased profits,” he added.

Digital outreach for products from the agricultural solutions segment helped increase their visibility and demand. The industrial solutions and materials segments delivered strong revenue growth and increased volumes and price realizations.

BASF India donated oxygen cylinders and concentrators during the second wave

The intense second wave of the pandemic had a significant impact on the health of the people, businesses, and economy. During this time, the company offered innovative chemistry in the form of molecular sieves to enhance the generation of medical-grade oxygen in the country. Additionally, the company donated life-saving medical equipment like oxygen cylinders and oxygen concentrators to augment the medical infrastructure in the vicinity of our facilities.

BASF’s financial results for the quarter ended 30 June 2020 have been restated to include results of erstwhile BPPIPL (BASF Performance Polyamides India Private Limited), which was merged with the company effective 1 February 2020.

 

The Covid-19 pandemic led to the country-wide lockdown on 25 March 2020. It will be two years tomorrow as I write this. What have we learned in this time? Maybe the meaning of resilience since small companies like us have had to rely on our resources and the forbearance of our employees as we have struggled to produce our trade platforms.

The print and packaging industries have been fortunate, although the commercial printing industry is still to recover. We have learned more about the digital transformation that affects commercial printing and packaging. Ultimately digital will help print grow in a country where we are still far behind in our paper and print consumption and where digital is a leapfrog technology that will only increase the demand for print in the foreseeable future.

Web analytics show that we now have readership in North America and Europe amongst the 90 countries where our five platforms reach. Our traffic which more than doubled in 2020, has at times gone up by another 50% in 2021. And advertising which had fallen to pieces in 2020 and 2021, has started its return since January 2022.

As the economy approaches real growth with unevenness and shortages a given, we are looking forward to the PrintPack India exhibition in Greater Noida. We are again appointed to produce the Show Daily on all five days of the show from 26 to 30 May 2022.

It is the right time to support our high-impact reporting and authoritative and technical information with some of the best correspondents in the industry. Readers can power Packaging South Asia’s balanced industry journalism and help sustain us by subscribing.

– Naresh Khanna

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