BASF India Limited announces full-year 2020-2021 audited annual results
BASF India Limited (BSE code: 500042) registered sales of Rs. 95,583.4 million for the financial year ending March 31, 2021, as compared to Rs. 75,945.6 million in the previous year, representing an increase of 26%.
The Company reported profit before tax (before exceptional items) of Rs.4,378.7 million as compared to profit before tax (before exceptional items) of Rs. 423.6 million in the previous year.
In the quarter ending on March 31, 2021, the Company registered sales of Rs. 28,055.8 million, as compared to Rs. 18,921.0 million for the corresponding period of the previous year, an increase of 48%. Profit before tax (before exceptional items) stood at Rs 1,706.1 million for the quarter that ended on March 31, 2021, compared to Profit before tax (before exceptional items) of Rs. 347.6 million for the corresponding
period of the previous year.
“Strong growth in volumes and price realizations across the portfolio enabled us register a growth of 48% over previous year in the quarter ending March 2021.” said Narayan Krishnamohan, Managing Director, BASF India Limited. “Despite the industrial slowdown and overall GDP decline in FY21, we achieved record sales and profits by enhancing our engagement and collaboration with customers while maintaining a
sustained focus on operating margins, costs and working capital.” he added.
The Board of Directors of the Company have recommended a special dividend of Rs. 5/- per equity share i.e. 50% due to the portfolio restructuring measures. This is in addition to a final dividend of Rs. 5/- per equity share i.e. 50% for the financial year ended 31st March 2021. The aggregate dividend would be Rs. 10/- per equity share i.e.
100%, which is subject to the approval of the shareholders at the forthcoming Annual General Meeting.
The Company has accounted the acquisition of BPPIPL (BASF Performance Polyamides India Private Limited, as common control transaction effective February 1, 2020 (i.e. the date of global acquisition of Solvay Polyamides business by BASF SE). Accordingly, the financial statements of the Company for the year ended March 31, 2020 have been
restated to include results of erstwhile BPPIPL with effect from February 1, 2020 (i.e. the common control acquisition date). Hence, the figures for the current year ended March 31, 2021 are not strictly comparable with figures for the previous year ended March 31, 2020.
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