BASF India : announces Q2 2017-18 Results

Mumbai, India - Nov 14, 2017 - BASF India Limited (BSE code: 500042) on a comparable basis has registered sales of Rs. 14,332 million for the quarter ended September 30, 2017, as compared to Rs. 13,932 million in the corresponding quarter of the previous year, representing an increase of 12%*.

The Company reported profit before tax (before exceptional items) of Rs. 420 million, as compared to loss before tax (before exceptional items) of Rs. 177 million in the corresponding quarter of the previous year. The Company also registered a profit (after exceptional items) during Q2 FY 2017-18, with the divestment of the leather chemicals business, in line with the global divesture.

'New product launches in our Agricultural Solutions business and volume growth in other segments contributed to improved topline growth and profitability. Our recently announced plans to expand the manufacturing capacity of Cellasto® and cease thermoplastic polyurethane (TPU) manufacturing at the Dahej site in Gujarat, demonstrate how we optimize our manufacturing assets to meet the needs of the market and customers,' said Dr. Raman Ramachandran, Chairman and Managing Director, BASF India Limited.

The decision to cease TPU production has resulted in a write down of the assets, which has been disclosed as exceptional item for Q2 FY 2017-18.

For the half-year ended September 30, 2017, on a comparable basis the Company has registered sales of Rs. 30,797 million as compared to Rs. 29,009 million for the corresponding period of the previous year; an increase of 10%*. Profit Before Tax (before exceptional items) stood at Rs. 427 million for the half year ended September 30, 2017 as compared to Loss Before Tax (before exceptional items) of Rs. 95 million for the corresponding period of the previous year. Profit After Tax (after exceptional items) stood at Rs. 1,736 million for the half year ended September 30, 2017, as compared to Loss After Tax (after exceptional items) of Rs. 96 million posted in the corresponding period of the previous year.

*As per Indian Accounting Standard 18 on Revenue and Schedule III of the Companies Act, 2013, Revenue from Operations for the quarter ended 30 September 2017 does not include Goods and Service Tax (GST). However, Revenue from Operations until the period ended June 30, 2017 and other comparative periods includes excise duty. Revenue from Operations has been adjusted for GST/Excise duty for the relevant period(s) for more coherent comparison.

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. At the end of 2016, BASF in India had 2,356 employees at ten production sites & ten offices, as well as two R&D centers, located in Mumbai and Mangalore. In 2016, 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 114,000 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 about €58 billion in 2016. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (BAS). Further information at www.basf.com.