BASF India (BASF) Q4 98/99 earnings summary

Executive summary

• FY ended 31 Mar 1999: income rose 16% YoY to ₹3,458.92m; PBT increased 13% to ₹216.68m and PAT increased 6% to ₹180.18m.

• Growth came from crop protection, leather chemicals, plastics and dispersions; textile chemicals grew in sales but had lower profits due to product mix.

Financial highlights

• Sales were ₹3,418.04m vs ₹2,942.17m; other income was ₹40.88m vs ₹34.44m.

• PBT was ₹216.68m vs ₹191.58m; PAT was ₹180.18m vs ₹168.80m, with prior-year tax adjustments of ₹1.23m in FY1997-98.

• Depreciation rose to ₹204.23m from ₹190.24m; interest expense rose to ₹167.92m from ₹140.25m.

• Operating cash flow was ₹210.99m vs ₹247.36m; cash and cash equivalents closed at ₹66.58m vs ₹32.38m.

Outlook and guidance

• Styronal and superplasticizer exports to Far East and Middle East markets had commenced and were expected to grow.

• Y2K compliance work was scheduled to finish by 30 Sep 1999; remaining spend was estimated at ₹3m, with contingency plans for third-party disruptions.

• R&D plans included product and process development in crop protection, leather, paper chemicals and dye intermediates.