BASF India : announces FY 2015/2016 Audited Annual Results

May 03, 2016, Mumbai, India - BASF India Limited (BSE code: 500042) registered sales of Rs. 47,517 million for the financial year ended 31 March, 2016 representing a marginal increase of 1% over the previous year. The Company reported profit after tax (after exceptional items) of Rs. 44.5 million.

'It has been a challenging year for BASF India, due to second consecutive year of sub optimal monsoon, falling crude oil prices, consequent volatility in raw material prices and lower demand from industries and customers that we serve. We have taken several measures to reduce costs and improve efficiency. We are confident that these measures will improve our performance in the coming years.' said Dr. Raman Ramachandran, Chairman and Managing Director, BASF India Limited.

For the quarter ended 31 March, 2016, the Company registered sales of Rs. 11,521 million as compared to Rs. 10,723 million in the corresponding quarter of the previous year. Profit after tax (after exceptional item) stood at Rs. 768 million for the quarter ended 31 March, 2016 as compared to Loss After Tax (after exceptional item) of Rs. 593 million posted in the corresponding quarter of the previous year.

In view of the difficult year which impacted the overall performance of the Company, the Directors have recommended a dividend payment of Rs. 1/- per equity share of Rs.10/- each (i.e. 10%) for the financial year ended 31 March, 2016, subject to shareholders' approval at the forthcoming Annual General Meeting.

About BASF in India
BASF has successfully partnered India's progress for more than 125 years, with all global businesses maintaining a presence in India today except for Oil & Gas. As of the end of 2015, BASF in India had 2,236 employees at nine production sites & eight sales offices, as well as two R&D centers, located in Mumbai and Mangalore. In 2015, BASF registered sales of approximately €1.1 billion to customers in India. Further information is available on the Internet at www.basf.com/in

About BASF
At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. The approximately 112,000 employees in the BASF Group work on contributing to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into five segments: Chemicals, Performance Products, Functional Materials & Solutions, Agricultural Solutions and Oil & Gas. BASF generated sales of more than €70 billion in 2015. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN). Further information at www.basf.com.