BASF India Limited (BASF.NS) Bundle
Born as a local arm of the global chemical giant BASF SE in 1943, BASF India Limited has grown into a cornerstone of India's chemicals landscape-posting sales of roughly €2.4 billion in 2024, operating from 8 production sites and 42 offices and employing 2,411 people at year-end 2024; its strategic moves in 2024-2025-including the May 28, 2024 launch of the Polyurethane Technical Development Center at Thane, the January 1, 2025 transfer of Coatings to a wholly owned subsidiary, the May 2025 Scheme of Arrangement to demerge and consolidate the Agricultural Solutions business into BASF Agricultural Solutions India Ltd (100% acquisition from BASF SE), and a maintained debt-free balance sheet with a net worth of ₹3,633 crore as of March 2025-are set against a market capitalization of ₹168.72 billion on December 19, 2025, underscoring how its diversified segments (Agricultural Solutions, Industrial Solutions, Materials, Surface Technologies, Nutrition & Care), extensive distribution network and R&D investments translate into resilient revenue streams and positioning for future growth
BASF India Limited (BASF.NS) - Intro
BASF India Limited (BASF.NS), established in 1943, is a long-standing participant in India's chemical and specialty solutions market. As the Indian affiliate of BASF SE, the world's largest chemical producer, the company leverages global R&D, supply chain capabilities and brand strength while tailoring products and services for Indian customers across multiple industries.- Founded: 1943
- Parent: BASF SE (majority/wholly controlled subsidiary relationship)
- Employees: 2,411 (end of 2024)
- Operations: 8 production sites and 42 offices across India
- 1943 - Company established in India; integrated into BASF SE's global network.
- January 1, 2025 - Coatings business transferred to BASF India Coatings Private Limited (100% subsidiary) effective.
- May 2025 - Announced Scheme of Arrangement to demerge Agricultural Solutions into BASF Agricultural Solutions India Ltd.
- Product sales: specialty chemicals, performance materials, catalysts, intermediates and coatings (transferred to subsidiary in 2025).
- Agro solutions: seeds, crop protection and formulations (undergoing demerger to a dedicated company).
- Solutions & services: contract manufacturing, technical support, formulation/ R&D services, and licensing.
- Value chain leverage: local manufacturing for faster delivery and cost competitiveness; global sourcing and technology for product differentiation.
| Metric | Value |
|---|---|
| Reported sales (2024) | ≈ €2.4 billion |
| Employees (end 2024) | 2,411 |
| Production sites | 8 |
| Offices | 42 |
| Major structural events | Coatings business transfer (1 Jan 2025); Agri demerger announced (May 2025) |
- Scale and product breadth from BASF SE provide market access across automotive, construction, agriculture, electronics, and consumer goods.
- Recurring revenue from industrial customers and long-term supply contracts stabilizes cash flows.
- Innovation-driven margins from specialty chemistries and formulated solutions (higher margin than commodity chemicals).
BASF India Limited (BASF.NS): History
BASF India Limited (BASF.NS) is the Indian arm of BASF SE, built on decades of chemical, crop‑protection and performance‑materials activity in India. The company is publicly listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) under the ticker 500042 and has evolved through organic growth and strategic reorganisations to focus on specialty chemicals, agricultural solutions and performance products.- Listing: BSE & NSE (Ticker: 500042)
- Market capitalization (as of 19 Dec 2025): ₹168.72 billion
- Major shareholder: BASF SE (majority stake; strategic and financial parent)
- Acquisition (May 2025): BASF India acquired 100% of BASF Agricultural Solutions India Ltd. from BASF SE and nominees
- Corporate action: Board-approved Scheme of Arrangement to demerge Agricultural Solutions Business into a subsidiary (subject to regulatory & shareholder approvals)
- Shareholder base: institutional investors, retail investors and BASF SE
| Attribute | Detail |
|---|---|
| Exchange / Ticker | BSE & NSE / 500042 |
| Market Cap (19 Dec 2025) | ₹168.72 billion |
| Parent Company | BASF SE (Germany) - majority shareholder |
| Key Transaction | May 2025: 100% acquisition of BASF Agricultural Solutions India Ltd. |
| Corporate Restructure | Board-approved Scheme of Arrangement to demerge Agricultural Solutions Business into subsidiary (pending approvals) |
| Primary Shareholders | Institutional investors, retail investors, BASF SE |
BASF India Limited (BASF.NS): Ownership Structure
BASF India Limited (BASF.NS) is the Indian subsidiary of the global BASF group, structured to combine global technology and capital with local manufacturing and market access. Its ownership and governance reflect majority strategic control by the parent group and a free-float public shareholding.- Majority shareholder: BASF SE (Germany) - strategic parent providing technology, R&D collaboration and capital support (approx. 68.9% stake).
- Public shareholders and institutional investors - the remaining stake (approx. 31.1%), listed on the NSE and BSE, enabling local capital-market participation.
- Board and management include representatives from BASF SE alongside independent Indian directors to ensure regulatory compliance and local oversight.
- Mission: Leverage global expertise to drive sustainable growth and deliver value to stakeholders in India - focused on innovation, sustainability and customer-centric solutions.
- Innovation: Evidenced by the launch of the Polyurethane Technical Development Center India at Thane on 28 May 2024 to accelerate local product development and customer support.
- Sustainability: Core value guiding reductions in emissions, resource efficiency and circular-economy initiatives across Indian operations.
- Customer-centricity: Solutions tailored to diverse Indian industries (agriculture, coatings, construction, automotive, and consumer-care), with local technical services and application labs.
- Operational excellence: Disciplined working-capital management and inventory optimization to support sustainable growth and margin stability.
- Integrity: Ethical conduct, transparency and compliance embedded in corporate culture and reporting practices.
- Product segments: Supplies specialty chemicals, performance materials, intermediates and formulations to industrial clients and formulators across sectors.
- Value chain: R&D and technical service → localized manufacturing (Thane and other sites) → distribution and direct sales to OEMs and formulators → after-sales technical support and custom formulations.
- Revenue drivers: New product introductions (e.g., polyurethane solutions), technical development services, long-term supply contracts, and export sales to neighboring markets.
- Cost focus: Raw-material sourcing (global and local), energy and utilities, logistics, and strict working-capital controls to preserve margins.
| Metric | Value (INR crore) | Notes |
|---|---|---|
| Revenue (Net sales) | 3,630 | Standalone sales for latest reported fiscal year |
| Profit after tax | 310 | Standalone PAT |
| Total assets | 4,500 | Includes property, plant & equipment and working capital |
| Inventory days | 45 | Focus area for operational excellence |
| Working capital days | 25 | Disciplined management to support growth |
| Gross margin | 28% | Mix of specialty products supports higher margins vs commodity chemicals |
BASF India Limited (BASF.NS): Mission and Values
How It Works BASF India operates as the Indian subsidiary of the global BASF group, organizing its activities across multiple business segments and leveraging manufacturing, distribution, R&D and partnerships to serve industrial, agricultural and consumer-facing customers.- Business segments: Agricultural Solutions, Industrial Solutions, Materials, Surface Technologies, Nutrition & Care.
- Manufacturing & distribution footprint: eight production sites and 42 offices across India to ensure timely product delivery and customer support.
- Research & development: ongoing investments in India, including the establishment of the Polyurethane Technical Development Center India in 2024 to support formulators, OEMs and downstream innovation.
- Quality & compliance: stringent quality control systems aligned to international standards, internal audits and customer-facing technical service teams.
- Collaborations: strategic partnerships with academic institutions, industry consortia and technology partners to enhance capabilities and market reach.
- Product sales: formulated chemicals, specialty materials, crop protection solutions and nutrition & care ingredients sold to industrial and consumer product manufacturers.
- Service & technical support: paid technical assistance, formulation services and application development (notably via the polyurethane center and surface technologies teams).
- Supply agreements and distributor networks: extensive national coverage via offices and distributor relationships that support recurring business and bulk sales.
- Custom solutions & collaborations: co-development and toll-manufacturing arrangements with industrial customers and partners.
| Metric | Detail |
|---|---|
| Production sites | 8 |
| Offices across India | 42 |
| R&D investment example | Polyurethane Technical Development Center India (est. 2024) |
| Financial position (Mar 2025) | Debt-free; Net worth ₹3,633 crore |
| Primary business segments | Agricultural Solutions; Industrial Solutions; Materials; Surface Technologies; Nutrition & Care |
- Integrated value chain: from R&D and formulation to manufacturing and distribution, enabling margin capture across the value chain.
- Localized innovation: India-specific technical centers and labs to tailor products to local climate, crop and industrial needs.
- Scale and reliability: eight manufacturing sites and 42 offices ensure supply continuity and faster service response times.
- Strong balance sheet: debt-free status provides financial flexibility for capex, partnerships and counter-cyclical investments.
BASF India Limited (BASF.NS): How It Works
BASF India Limited (BASF.NS) operates as the Indian arm of BASF SE, integrating global R&D, manufacturing and commercial capabilities to serve Indian customers across chemicals, materials, industrial solutions, surface technologies, nutrition & care, and agricultural solutions. Its business model converts global chemistry platforms, localized production and channel partnerships into diversified revenue streams.- Primary revenue drivers: sale of specialty and commodity chemicals, performance materials (including polyurethanes and specialty plastics), surface technologies (automotive and industrial coatings), nutrition & care ingredients, and crop protection formulations.
- Distribution and channel model: direct sales to industrial, OEM and agricultural customers plus partnerships with distributors, formulators and agri-input retailers for last-mile reach.
- Value capture: proprietary formulations and application know-how, licensing/technical service fees, contract manufacturing and long-term supply agreements.
- Agricultural Solutions - crop protection and seed-treatment products (insecticides, herbicides, fungicides, plant growth regulators). Strong contribution due to India's large agrochemical market and BASF's branded crop-protection portfolio.
- Materials - performance polymers, engineering plastics, intermediates and polyurethane systems sold into automotive, construction, electronics and consumer-goods industries.
- Surface Technologies (Coatings) - automotive refinish and industrial coatings, OEM coatings supplied to vehicle manufacturers and ancillary industries.
- Nutrition & Care - active ingredients and excipients for food, personal care, home-care and pharmaceutical formulations, both as ingredients and formulated specialties.
- Industrial Solutions & Chemicals - basic and specialty chemicals for chemical industry customers, water-treatment, mining and energy sectors.
- Services & technical support - formulation development, application engineering, regulatory/compliance services and bundled service contracts for industrial customers.
| Segment | Approx. Share of Revenue (%) | Representative Products / Customers |
|---|---|---|
| Agricultural Solutions | 30-40% | Herbicides, insecticides, fungicides; sale to agri-retailers, formulators |
| Materials | 20-30% | Polyurethanes, engineering plastics; OEMs in automotive, construction |
| Surface Technologies (Coatings) | 10-20% | Automotive OEM/refinish, industrial coatings |
| Nutrition & Care | 10-15% | Food additives, personal-care actives, home-care ingredients |
| Industrial Chemicals & Solutions | 5-15% | Intermediates, solvents, process chemicals |
- Product mix - higher-margin specialty chemicals and formulated agricultural products lift gross margins versus basic commodity sales.
- Localization - Indian manufacturing and local procurement reduce input costs and improve responsiveness to domestic demand cycles.
- R&D and technical services - ongoing formulation support, regulatory registrations and application innovations create switching costs and pricing power.
- Channel and inventory management - optimized distribution and dealer networks in agri and industrial channels reduce working capital and improve cash conversion.
| Indicator | Why it matters |
|---|---|
| Revenue by segment | Shows which businesses drive top-line and where to allocate capex/marketing |
| Gross margin | Higher margins indicate a shift to specialties and value-added services |
| EBIT / EBITDA | Operational profitability after fixed costs and R&D investments |
| Working capital days | Reveals efficiency of inventory and receivables management in cyclical industries |
| CapEx & localization spend | Indicates investment in local capacity that can reduce costs and expand addressable market |
- Crop protection: BASF India sells both technical actives and finished formulations; farmer adoption and seasonal cycles drive quarterly revenue swings.
- Materials: polyurethane systems for insulation and comfort-sold via system houses and direct to OEMs-are margin-accretive and tied to construction and auto demand.
- Coatings: partnerships with vehicle OEMs and independent refinish channels provide recurring revenue and aftersales parts demand.
- Nutrition & Care: supplied to FMCG and pharmaceutical customers under long-term contracts and spot orders depending on formulation cycles.
BASF India Limited (BASF.NS): How It Makes Money
BASF India monetizes its portfolio through the sale of specialty chemicals, performance materials, functional solutions, and value-added services to industries such as automotive, construction, textiles, pharmaceuticals, and consumer goods. The company also generates revenue from distribution and technical support, licensing of proprietary formulations, and R&D-driven product introductions. Strategic corporate actions, including the demerger of the Agricultural Solutions Business, are aimed at sharpening focus and unlocking shareholder value.- Market capitalization: ₹168.72 billion (Dec 2025)
- Net worth: ₹3,633 crore
- Debt status: Debt-free
- Key industries served: Automotive, Construction, Textiles, Pharmaceuticals, Consumer Goods, Industrial Manufacturing
- Strategic focus: Innovation, sustainability, customer-centric solutions, and distribution reach
| Metric | Value / Implication |
|---|---|
| Market Capitalization (Dec 2025) | ₹168.72 billion |
| Net Worth | ₹3,633 crore |
| Debt Position | Debt-free |
| Major Revenue Streams | Specialty Chemicals, Performance Materials, Functional Solutions, Distribution & Technical Services |
| Corporate Action | Demerger of Agricultural Solutions Business to streamline operations |
| Competitive Advantages | Extensive distribution network, strong R&D, sustainability alignment |
- Growth drivers: rising domestic chemical demand, localisation of global supply chains, product portfolio premiumization, and sustainability-linked innovation.
- Future outlook: well-positioned to capitalise on India's demand for chemicals and materials; demerger expected to improve operational focus and shareholder returns.
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