BASF India Ltd(BASF)

NSE: BASFBSE: 500042

₹ 3,043.15-0.85%refreshed 26 Oct, 03:55 pm ISTMarket cap: ₹ 13,172 crNext results: 4 Nov 2026Website: www.basf.com/inUpdated: 27 Oct 2026

About

BASF India Limited is the listed Indian subsidiary of BASF SE, operating across specialty chemicals, performance materials, agricultural solutions, and nutrition & care segments. It reported revenue of Rs 14,944 Cr in FY26. The company is undergoing a structural transformation: its Coatings business was divested to the Carlyle Group on June 30, 2026, and its Agricultural Solutions business is being demerged into a separately listed entity, BASF Agricultural Solutions India Limited (BASIL).^[1][2]

Business segments

Materials (29.8% of revenue, FY26): performance polymers including Engineering Plastics, Cellasto microcellular polyurethane elastomers, and monomers; EBIT margin 4.0%.^[3]
Nutrition & Care (22.5% of revenue, FY26): personal care ingredients and nutrition & health products; EBIT margin 0.9%.^[3]
Industrial Solutions (19.0% of revenue, FY26): dispersions and performance chemicals serving coatings, construction, and paper industries; EBIT margin 5.2%.^[3]
Agricultural Solutions (12.5% of revenue, FY26): crop protection products; highest EBIT margin in portfolio at 13.1%; being demerged into BASIL.^[3]
Chemicals (11.9% of revenue, FY26): intermediates and basic chemicals; EBIT margin 1.6%.^[3]
Surface Technologies (3.8% of revenue, FY26): coatings business, reported as discontinued operations following the June 30, 2026 divestment to Carlyle Group; EBIT margin 0.5%.^[3]
Over FY2024-FY2026, Industrial Solutions' revenue share rose 3.4 percentage points and Nutrition & Care's 1.8, while Agricultural Solutions' fell 2.1.^[3]

Products and portfolio

Agricultural Solutions portfolio has 26 products each contributing at least Rs. 10 crores in value as of H1 FY26.^[4]
Valexio (insecticide) and Mibelya (fungicide), launched May/June 2025 for rice, are among 12 new agri products since 2022; Valexio entered the top-10 portfolio products by value in its first year.^[4]
Nutrition & Care H1 FY26 revenue Rs. 1,722 crores, up 15% YoY, with volume +8% and price +4%; segment PBT Rs. 30 crores vs Rs. 20 crores in H1 FY25.^[4]
Industrial Solutions PBT before exceptional items rose from Rs. 96 crores to Rs. 154 crores in FY26, led by dispersions and performance chemicals volume recovery.^[5]

Manufacturing operations

Key manufacturing sites: Dahej (Gujarat), Panoli (Gujarat), Mangalore (Karnataka), and Thane (Maharashtra).^[4]
Dispersions: four production lines in India (two at Dahej, two at Mangalore) as of Q4 FY26; fifth line under construction at Mangalore.^[5]
Alkaline surfactant polymer blending plant for enhanced oil recovery at Dahej completed February 2025.^[6]
Polyamide compounding capacity expansion at Panoli completed May 2025, serving automotive, construction, consumer goods, and electronics.^[6]
Engineering Plastics extrusion line at Thane expanded capacity by 80% as of H1 FY26.^[4]
Dahej and Panoli to source above 80% of energy from renewables under a 25-year hybrid solar-wind agreement with CleanMax; target for all sites is 75 - 80% renewable share.^[4]

Key operating numbers

Capacity utilisation at manufacturing sites: 82 - 87% in FY26.^[5]
Own-manufactured products share 42% of revenue in FY26; their gross margin 25 - 30% vs 5 - 10% for merchandise.^[5]
FY26 volume growth +5.9% YoY; price realisation declined ~5 - 6%, giving net revenue growth of ~2%.^[5]
Q1 FY27 revenue Rs. 4,998 crores vs Rs. 3,875 crores in Q1 FY26 (+29%), on higher volumes and better realisation.^[1]
Agricultural Solutions India market share ~7% in FY26, up from ~3% a few years ago; 12 products launched since 2022 make ~25% of India agri sales.^[5]
Receivable days 65; inventory days 80 (up ~10 days YoY) in FY26.^[5]

Exports

Export sales Rs. 403 crores in FY26, up from Rs. 383 crores in FY25.^[5]

Expansion and capex

Fifth national dispersions line (third at Mangalore): groundbreaking February 2026; adds ~15% national dispersions capacity; commissioning targeted end of 2027.^[1]
FY27 capex expected to exceed Rs. 200 crores, covering remaining Cellasto spend, the Mangalore dispersions line, and maintenance capex of ~Rs. 82 - 100 crores.^[5]

Recent developments

June 30, 2026: 100% of BASF India Coatings transferred to Carlyle Group for Rs. 230.16 crores; Carlyle will run it under the brand 'Surventis'.^[1]
June 24, 2026: shareholders approved the Agricultural Solutions demerger into BASIL with 99.99% majority; NCLT order expected by end of 2026; listing targeted H1 2027 on BSE and NSE at 1:1.^[1]
82nd AGM scheduled for 12 August 2026 at 3 p.m. via video conferencing.^[7]
BASF Group announced two Hyderabad hubs: BASF Digital Solutions Pvt. Ltd. (global digital) and BASF Global Business Services Pvt. Ltd. (global HR and finance).^[5]

Market Cap

₹13,172 Cr

High / Low

₹4,555 / 2,907

Stock P/E

20.7

Price / Book

3.4

Book Value

₹914

EPS

₹97.0

No. of Shares

4.33 Cr

ROCE

15.0%

ROE

11.1%

OPM

3.9%

Debt / Equity

0.00

Sales

₹14,944 Cr

Net Profit

₹420 Cr

Promoter holding

73.3%

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BASF India Ltd(BASF)

About

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Products and portfolio

Manufacturing operations

Key operating numbers

Exports

Expansion and capex

Recent developments

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