The performance of BASF India Limited during the year ended 31st March 2008 registered an improvement over the previous year.

Sales at Rs.10,305.5 million (Net of excise: Rs.9,072.0 million) during the year ended 31st March 2008 showed an increase of 18% compared to the previous year. Profit before tax at Rs.930 million represents an increase of 19.1%.

“This increase was mainly on account of higher capacity utilization, improved operating results of the Agricultural Products, Performance Products and Chemicals businesses.” said Mr. Prasad Chandran, Chairman and Managing Director of BASF India Limited.

Profit after tax at Rs. 593.7 million was higher by 18.5% compared to the previous year.

The Agricultural Products business recorded higher sales and profits during the year ended 31st March 2008 mainly due to higher realizations, marketing initiatives and rationalization measures undertaken during the year and effective working capital management.

The Performance Products segment, which include textiles, dispersions, speciality and leather chemical businesses registered an increase in sales, both in volume and value terms. Capacity utilization in all segments of business was higher compared to the previous year. However, margins were under pressure mainly due to increase in input costs.

The Expandable Polystyrene business registered increase in volume and turnover compared to the previous year.

The Chemical business registered improved results, compared to the previous year.

The export sales at Rs.373.3 million during the year under report, represented an increase of 16.6% over the previous year.

The Directors have recommended a dividend @ 70% on the equity shares for the financial year ended 31st March 2008.

Sourced From : Imprimis Life PR Pvt Ltd

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