BASF

Feb 4 (Reuters) - BASF India Ltd BASF.NS:

• CLOSURE OF TURBO TUBE DRYER UNIT AT COMPANY'S MANUFACTURING SITE AT DAHEJ

• DECISION TO CLOSE UNIT DUE TO TECHNOLOGY NOT BEING REFLECTIVE OF CURRENT INDIAN MARKET STANDARDS

• CLOSURE OF TURBO TUBE DRYER UNIT IS EXPECTED BY FIRST HALF OF 2025

Source text: ID:nBSE7P2hX2

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Dec 13 (Reuters) - Industry lobby VCI expects orders and sales for the German chemicals industry to stagnate in 2025 as high producer prices and low order backlogs weigh on revenue, it said on Friday.

The association, which represents around 1,900 companies, said revenues in the chemical-pharmaceutical industry decreased by 2% to 221 billion euros ($231.34 billion) in 2024, as prices decreased and sales in Germany were down by 4%.

The industry suffered from high production costs and weak demand throughout 2023. Some companies flagged tentative signs of recovery in early 2024, but that optimism has since faded as high costs and labour shortages continue to weigh.

"It's a gloomy assessment. The only silver lining is that the rapid downturn of the last two years has not continued," said VCI President Markus Steilemann, who also serves as chief executive for Covestro 1COVG.DE.

VCI said orders were scarce in 2024, leading to production facilities not operating at full capacity. "As a result, some facilities have been permanently closed in recent months. Further shutdowns are likely to follow," it added.

Germany is lagging behind other countries due to high production costs and increasing bureaucracy, VCI said, adding that the current economic situation was prompting members to reduce their budgets in Germany and increase investments abroad.

($1 = 0.9553 euros)

(Reporting by Chiara Holzhaeuser and Ozan Ergenay, Editing by Friederike Heine)

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Nov 12 (Reuters) - BASF India Ltd BASF.NS:

• Q2 PROFIT 1.28 BILLION RUPEES

• Q2 SALE OF PRODUCTS 42.11 BILLION RUPEES

Source text: [ID:]

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** Shares of chemicals maker BASF India BASF.NS up 16.7% to 6,740.65 rupees

** Stock set for best day since early August 2021

** June-quarter profit rose 95.6% YoY to 2.21 bln rupees ($26.3 mln)

** BASF's German parent reported a marginal 0.6% rise in Q2 adjusted earnings last month

** Trade vol at more than 345,000 shares, highest since mid-May

** Rival Deepak Fertilisers and Petrochemicals' DPFE.NS profit also surged, SRF's SRFL.NS profit dropped

** BASF up 2.2X YTD, DPFE and SRF up ~46% and ~4% respectively

($1 = 83.9444 Indian rupees)

(Reporting by Varun Vyas in Bengaluru)

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July 18 (Reuters) - BASF India Ltd BASF.NS:

• BASF INDIA LTD- TO SELL ITS FLOCCULANTS BUSINESS GLOBALLY FOR MINING APPLICATIONS TO SOLENIS

Source text for Eikon: ID:nBSE9wcDlh

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BENGALURU, May 14 (Reuters) - Chemicals maker BASF India BASF.NS on Tuesday posted a fourth-quarter profit that nearly doubled, helped by strong demand for its materials and agriculture solution businesses.

Profit rose 96% year-on-year to 1.62 billion rupees ($19.4 million) for the three months ended March 31 from 823.9 billion rupees a year earlier.

Revenue from operations rose 2.5% to 33.60 billion rupees.

The materials segment of BASF India, which comprises of its performance materials & monomers businesses used in segments like transportation, appliances and footwear reported a 13.3% rise in quarterly revenue while the agriculture solution segment, which includes insecticides, herbicides, fungicides among others grew 12.4%.

This helped offset the 11.2% and 1.7% fall in quarterly revenue of the nutrition & care and industrial solutions segments respectively.

The Indian arm of Germany's BASF BASFn.DE posted its third straight quarterly profit at a time when most other chemical companies are still grappling with high inventory and destocking for the past few quarters.

Earlier this month, peer chemicals and polymers maker SRF SRFL.NS posted a drop in profit for the fifth quarter in a row as its chemical business, which consists of specialty chemicals, fluorochemicals, and agrochemicals among others continued to face weak demand.

BASF India also declared a dividend of 15 rupees per share for the fiscal 2024. Share of the company rose as much as 14.5% after the results to hit a record high of 4,690.75 rupees.

($1 = 83.5080 Indian rupees)

(Reporting by Ashish Chandra in Bengaluru)

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April 2 (Reuters) - BASF India Ltd BASF.NS:

• ENTERED INTO A 25-YEAR LONG-TERM POWER PURCHASE AGREEMENT WITH CLEAN RENEWABLE ENERGY KK 2C

• AGREEMENT FOR PROCUREMENT OF 2.7 MW OF RENEWABLE POWER FOR MANUFACTURING SITE AT MANGALORE

• CO WILL HOLD 26% SHARE CAPITAL OF CLEAN RENEWABLE ENERGY KK 2C FOR AN AMOUNT NOT EXCEEDING 15 MILLION RUPEES

Further company coverage: BASF.NS

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** Shares of adhesive maker Pidilite Industries PIDI.NS up 2.8%; brokerage Kotak upbeat on FY25 growth prospects

** Reiterates "Add" rating, raises fair value to 3,075 rupees from 2,825 rupees earlier

** FV among street highs - at 7% premium on last close, 11% higher than analysts' avg of 2,764 rupees, per LSEG data

** In FY25, real estate upcycle can accelerate growth for PIDI's core adhesives biz which accounts for its 45%-50% sales - Kotak

** Says PIDI's profitability is placed well after taking price cuts and doubling promotional and advertising spends

** Adds urban shift towards organised construction and rising spends on home decor augur well for co

** Stock has gained ~17% in current fiscal, peer BASF BASF.NS up ~42% while SRF SRFL.NS rose ~1%, per last close

(Reporting by Manvi Pant in Bengaluru)

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Feb 12 (Reuters) - BASF India Ltd BASF.NS:

• BASF INDIA LTD - APPROVED TRANSFER OF CO'S COATINGS BUSINESS TO BASF INDIA COATINGS FOR 1.82 BILLION RUPEES

Source text for Eikon: ID:nNSE7tf08t

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Jan 3 (Reuters) - BASF India Ltd BASF.NS:

• DEPUTY COMMISSIONER OF STATE TAX, MUMBAI DROPPED PROPOSED DEMAND RELATING TO TRANSITIONAL CREDIT

• DEMAND OF 2.83 BILLION RUPEES NOW REDUCED TO 142.1 MILLION RUPEES

Further company coverage: BASF.NS

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** Indian fertilizer and agro-chemicals companies will likely face challenges for two more quarters on destocking by customers, Kotak Institutional Equities analysts said

** Add volume growth will remain under pressure until (and including) Q1 calendar year 2024 on a yoy basis due to destocking

** Outlook for the winter-sown crop season is somewhat challenging in India, especially in the south, due to lower water levels - brokerage

** Says recovery after Q1 CY2024 is seen only as modest, and the recent softness in corn prices is a worry in terms of end-demand for CY2024

** Ten out of 20 companies in Kotak's coverage universe, including Best Agrolife BESA.NS, Bharat Rasayan BRSN.NS, Coromandel CORF.NS, India Pesticides IDIP.NS, Meghmani Organics MEGH.NS, Sumitomo SUMH.NS and UPL UPLL.NS posted fall in core earnings and revenue in Q2 vs year ago

** Two cos, Astec LifeSciences ASTE.NS and Sharda Cropchem SHCR.NS, reported losses from yr ago profit

(Reporting by Nallur Sethuraman in Bengaluru)

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BENGALURU, Nov 9 (Reuters) - Chemicals maker BASF India BASF.NS on Thursday reported a jump in second-quarter profit after five-straight quarters of a fall, helped by easing input costs, sending its shares up about 9%.

The Indian arm of Germany's BASF BASFn.DE said its profit rose to 1.49 billion rupees ($17.90 million) in the quarter ended Sept. 30 from 1.13 billion rupees a year earlier.

Weak global demand due to inventory destocking and lower rates of Chinese supplies have hurt chemicals makers.

Last month, peer SRF SRFL.NS reported a fall in profit for the third consecutive quarter, as its mainstay chemicals business and packaging film businesses remained under pressure.

Meanwhile, revenue from BASF India's main materials business, which formed more than 28% of the quarterly revenue, rose 5.3% to 10.49 billion rupees.

The segment's portfolio includes specialised goods for the plastics and plastic processing industries.

Cost of materials, which forms almost a third of the total expenses of Mumbai-based BASF India, fell 14.5%, a first in 11 quarters

Total revenue rose to 37.07 billion rupees from 35.82 billion rupees a year ago, first growth in four quarters.

Shares of BASF India closed 6.9% up after the results.

($1 = 83.2520 Indian rupees)

(Reporting by Ashish Chandra in Bengaluru; Editing by Subhranshu Sahu and Shinjini Ganguli)

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Oct 5 (Reuters) - BASF India Ltd BASF.NS:

• BASF INDIA LTD - UPDATE ON COMPANY'S CENTRAL SALES TAX CASE IN STATE OF KARNATAKA

• BASF INDIA LTD - SUPREME COURT DISMISSED SPECIAL LEAVE PETITION FILED BY COMMERCIAL TAX DEPARTMENT, KARNATAKA

Source text for Eikon: ID:nBSE1wJznD

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July 24 (Reuters) - BASF India Ltd BASF.NS:

• JUNE-QUARTER PROFIT 1.13 BILLION RUPEES VERSUS PROFIT 1.97 BILLION RUPEES

• JUNE-QUARTER SALE OF PRODUCTS 33.43 BILLION RUPEES VERSUS 38.58 BILLION RUPEES

Source text for Eikon: ID:nNSEn4jsT

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July 20 (Reuters) - BASF India Ltd BASF.NS:

• UPDATE ON ADVANCE PRICING AGREEMENT WITH CENTRAL BOARD OF DIRECT TAXES FOR PERIOD FY 2011-12 TO FY 2019-20

• CBDT HAS SUBSTANTIALLY ACCEPTED CO'S POSITION OF CSA CHARGES BEING AT ARM'S LENGTH

• APA SIGNED BETWEEN CO, CBDT LEADING TO SETTLEMENT OF OUTSTANDING LITIGATIONS IN RESPECT OF CSA CHARGES

Source text for Eikon: ID:nNSE6vfQTD

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** Shares of BASF India Ltd BASF.NS fall as much as 5.9% to 2,282.3 rupees, biggest intraday pct. loss since Jan. 31

** Chemical manufacturer's March-qtr profit falls 45% to 823.9 mln rupees ($10.07 mln), hurt by lower revenue in its chemicals segment

** Co's sale of products falls 3.3% to 32.5 bln rupees

** Trading volume at ~61,800 shares as of 2:50 p.m. IST, 5x the 30-day avg

** Up to last close, stock down 14% so far this year

($1 = 81.7800 Indian rupees)

(Reporting by Biplob Kumar Das in Bengaluru)

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