BASF India announces Q3 2020-2021 results

Photo: BASF

BASF India (BSE code: 500042), registered sales of Rs 2424.35 crore for the 3rd quarter, which concluded on December 31, 2020, as compared to Rs 2014.38 crore in the corresponding quarter of the previous year, representing an increase of twenty%.

The Company reported Profit earlier taxation (earlier exceptional items) of Rs. 188 crore every bit compared to loss before tax (before exceptional items) of Rs. 24.04 crore in the prior-twelvemonth quarter.

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

" The Visitor recorded strong book growth leveraging shut customer collaboration amidst robust demand recovery in its core markets," said Narayan Krishnamohan, managing managing director, BASF India. "We significantly improved profitablity through our continued focus on margin improvement, stock-still cost direction and working capital optimization", he added.

In the first ix months of the fiscal year, the Company registered sales of Rs 6589.85 crore, equally compared to Rs 5702.46 crore for the respective menstruation of the previous year, an increase of sixteen%. Profit before tax (earlier exceptional items) stood at Rs. 258.95 crore for the 9 months that ended on December 31, 2020, compared to profit before tax (before exceptional items) of Rs 7.6 crore for the respective period of the previous year.

BASF has successfully partnered India'southward progress for more than 125 years. As of the end of 2019, BASF had two,431 employees in India at 11 production sites and at 34 offices throughout the state. The Innovation Campus Bombay and the Technical Back up Center in Mangalore are both office of BASF's global technology platform. In 2019, BASF registered sales of approximately EUR one.3 billion (Rs 11488 crore) to customers in India.

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