By: ICN Bureau
Last updated : March 06, 2018 8:18 pm
BASF India Limited has registered significant growth in sales during the 2010-11 fiscal year compared to the previous year. Including the sales of three BASF legal entities that merged into BASF India Limited in 2010 (aggregating to Rs. 8574.2 mn, co
BASF India Limited has registered significant
growth in sales during the 2010-11 fiscal year compared to the previous year.
Including the sales of three BASF legal entities that merged into BASF India
Limited in 2010 (aggregating to Rs. 8574.2 mn, consequent to merger), the total
sales were at Rs. 30599 mn. This represents an increase of 121% over the
previous year. The current year is the first full year to include sales from
former Ciba businesses.
Export sales of Rs. 2262 million for the year represent an increase of 271%
compared to the previous year.
Profit before tax stood at Rs. 1507.5 million during the year ended 31st March
2011 as compared to Rs. 1513.7 million for the previous year. This reflects an
increase in material costs, which could not be fully passed on to the customers.
Profit after tax at Rs. 1178.3 million was 22% higher compared to the previous
year.
?We achieved a substantial increase in sales in 2010. This demonstrates BASF?s
growing momentum in India,? said Mr. Prasad Chandran, Chairman BASF Companies in
India and Head South Asia. ?Our focus on customers, cost-efficiencies and an
integrated business approach, while increasing our exposure to 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.
The Directors have recommended payment of dividend of Rs.8/- per equity share of
Rs. 10/- each (i.e. 80%) for the financial year ended 31st March 2011.