Transcript of the Analyst / Fund Managers meeting of BASF India Limited held on 22nd May, 2026 at 4 pm through Audio Visual means.
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BASF India reported FY26 consolidated results with sales around Rs 10,000 crore, driven by 6-7% volume growth but offset by 5-6% price decline. PBT before exceptional items fell from Rs 600 crore to Rs 564 crore due to higher input costs and product mix. EBIT margin stood at 4% and EPS at Rs 97 versus Rs 110 prior year. Working capital increased by Rs 600 crore primarily from higher receivables. Management flagged rising feedstock inflation from the West Asia conflict (starting February 2026), currency depreciation, and demand softness across segments, with stagflation concerns emerging. The company is navigating the crisis without shutting any plants and working to pass on higher costs. Key expansions include the Celasto facility (commissioning by end of FY27) and Mangalore dispersion line (15% capacity increase, by end of next year). Portfolio measures are underway: Agricultural Solutions demerger has SEBI approval with shareholder meeting on June 24, 2026; coatings sale to Carlyle at Rs 230.16 crore valuation is expected to close in Q2 CY2026.
Despite volume growth, margin compression and higher working capital tied up have pressured profitability. The ongoing geopolitical crisis is creating input cost inflation and demand uncertainty, though the company is structurally well-positioned with capacity expansions and portfolio actions ahead.