BASF India Q2 FY27: PAT ₹564 Cr & Rev ₹15,539 Cr

Investor Takeaways

Revenue grew 2% YoY to ₹15,539 crores in FY2025-26.

Profit before tax before exceptional items declined 9% to ₹564 crores.

Received ₹230.16 crores from the coatings business demerger sale to Carlyle.

Targeted listing of BASF Agricultural Solutions India Limited (BASIL) in 1H27, subject to NCLT approval.

Overall Tone: Neutral

Key Financial Highlights

Metric	Value	YoY Change
Revenue	₹15,539 Cr	+2%
Net Profit	₹564 Cr	-9% (PBT before exceptional items)
EBITDA	Not available	N/A
EPS	Not available	N/A
OPM	Not available	N/A

What Changed

BASF India reported a 2% year-on-year increase in consolidated revenue to ₹15,539 crores for FY2025-26, primarily attributed to higher sales volumes. However, this growth was counterbalanced by reduced price realisation and elevated input costs. Profit before tax before exceptional items declined 9% to ₹564 crores, reflecting margin pressure. The company completed the demerger of its coatings business and received ₹230.16 crores from its sale to Carlyle. Plans to list BASF Agricultural Solutions India Limited (BASIL) were advanced, with a target of 1H27 for the IPO, contingent on regulatory approvals including NCLT clearance.

Peer Comparison

Company	P/E	ROE	ROCE	Market Cap (₹ Cr)
BASF India	27.19	N/A	N/A	16,687.48
Solar Industries India	132.27	N/A	N/A	1,56,674.48
Pidilite Industries	75.73	N/A	N/A	1,49,378.89
SRF Limited	69.51	N/A	N/A	79,723.46

BASF India trades at a lower P/E multiple compared to Solar Industries and Pidilite, suggesting relatively lower valuation expectations. Its market capitalisation is significantly smaller than Solar Industries and Pidilite but larger than SRF.

Risks & Concerns

Margin pressure from input cost inflation and lower price realisation.

Dependence on regulatory approvals for BASIL listing (NCLT and other clearances).

Execution risks associated with demerger integration and future growth of BASIL.

Quarterly Trend

Quarter	Revenue (₹ Cr)	Net Profit (₹ Cr)	OPM%
Q3FY25	3,758.67	103.55	4.53
Q2FY25	4,247.72	127.93	4.73
Q1FY25	3,966.9	220.57	7.88
Q4FY24	3,359.97	161.43	7.31

The quarterly trend indicates a decline in profitability metrics (OPM and profit) in the later quarters of FY2024-25, with Q1FY25 showing the highest profit and OPM, followed by a downward trajectory into Q4FY24 and Q3FY25. The FY2025-26 full-year profit of ₹564 crores appears to represent a consolidation of these trends, with a year-on-year decline despite revenue growth.

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About BASF India Limited (BASF)

Chemicals · Chemicals & Petrochemicals · Listed on NSE

Market Cap: ₹16,687.48 Cr P/E: 27.2

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.

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