BASF India Limited registered sales of Rs. 16,694 million for the quarter ended September 30, 2018, as compared to Rs. 14,332 million in the corresponding quarter of the previous year, representing an increase of 16%. The Company reported Profit before Tax (before exceptional items) of Rs. 119 million, as compared to Profit before Tax (before exceptional items) of Rs. 420 million in the corresponding quarter of the previous year.
In order to further develop its global pigment business, the Company’s Board of Directors approved the transfer of its pigments business to a separate legal entity BASF Colors & Effects India Private Limited (BCEIPL), a 100% subsidiary of BASF Colors & Effects GmbH, effective January 1, 2019, for a consideration to be determined by an Independent Valuer. The new legal entity will be able to operate the pigments business with more flexibility, higher speed and increased independence and will help to fully leverage the growth potential out of the emerging Asian region.