BASF India announces Q3 2020-2021 results

Registers an increase of 20% in sales

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BASF
Photo: BASF

BASF India (BSE code: 500042), registered sales of Rs 2424.35 crore for the third quarter, which ended on December 31, 2020, as compared to Rs 2014.38 crore in the corresponding quarter of the previous year, representing an increase of 20%.

The Company reported Profit before tax (before exceptional items) of Rs. 188 crore as compared to loss before tax (before exceptional items) of Rs. 24.04 crore in the prior-year quarter.

BASF Performance Polyamides India (BPPIPL), a 100% subsidiary, was proposed to be merged with the company. Following approval from the National Company’s Law Tribunal in Mumbai, the Company successfully completed the merger on February 1, 2021. The polyamides business will be integrated with the company’s performance materials business.

The Company recorded strong volume growth leveraging close customer collaboration amidst robust demand recovery in its core markets,” said Narayan Krishnamohan, managing director, BASF India. “We significantly improved profitablity through our continued focus on margin improvement, fixed cost management and working capital optimization“, he added.

In the first nine months of the financial year, the Company registered sales of Rs 6589.85 crore, as compared to Rs 5702.46 crore for the corresponding period of the previous year, an increase of 16%. Profit before tax (before exceptional items) stood at Rs. 258.95 crore for the nine months that ended on December 31, 2020, compared to profit before tax (before exceptional items) of Rs 7.6 crore for the corresponding period of the previous year.

BASF has successfully partnered India’s progress for more than 125 years. As of the end of 2019, BASF had 2,431 employees in India at 11 production sites and at 34 offices throughout the country. The Innovation Campus Mumbai and the Technical Support Center in Mangalore are both part of BASF’s global technology platform. In 2019, BASF registered sales of approximately EUR 1.3 billion (Rs 11488 crore) to customers in India.

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.

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– Naresh Khanna

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