BASF India registers sales increase of 14.8% in FY 2011-2012

BASF India Limited has registered an increase in sales of 14.8 % in FY 2011-2012 as compared to the previous fiscal. The total sales figure has gone up to Rs. 35159 mln as compared to Rs. 30639 mln in the previous year. Profit before tax remained constant at Rs. 1497 mln during the year ended March 31, 2012 as compared to Rs. 1505 mln for the previous year. Profit after tax at Rs. 1009 mln for the year was lower as compared to Rs. 1178 mln in the previous year. This was mainly due to the benefit of carry forward tax losses of merged entities which was available in the previous year. “We achieved an increase in sales in FY 2011-2012 inspite of a difficult business environment”, said Mr. Prasad Chandran, Chairman & Managing Director, BASF India Limited. “Our focus on customers, cost-efficiencies and an integrated business approach, while increasing our engagement in high growth markets has been highly beneficial. We will continue to take advantage of improved demand from end-use industries and leverage our product innovations successfully in India”, he concluded. Considering the proposed investment of Euro 150 mln (INR 1000 crores) for setting up of a new Chemical production site at Dahej and to augment the future capital requirements of the Company, the Directors have recommended payment of dividend of Rs.4 per equity share of Rs.10 each (i.e. 40%) for the financial year ended 31st March 2012.
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