BASF
BASF
ChemicalsKey Fundamentals
SmallcapSpecialty ChemicalsChemicalsTapetide Score
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Key Insights
Strengths
2- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 18.3%
Weaknesses
2- The company has delivered a poor sales growth of 9.41% over past five years.
- Company has a low return on equity of 13.9% over last 3 years.
Growth Rate
AI Analysis — Bull vs Bear
BASF India Ltd operates in the specialty chemicals space with a market cap of ₹15,626 Cr and trades at a P/E of 24.9x. The company is nearly debt-free and has shown a TTM profit growth of 50%, though its 3-year compounded sales growth of just 3% and declining ROE from 16% (5-year average) to 11% (last year) highlight uneven operational momentum.
- Nearly debt-free balance sheet provides financial flexibility and reduces interest rate risk in a rising rate environment
- TTM compounded profit growth of 50% signals a sharp earnings recovery, significantly outpacing the 3-year CAGR of 2%
- 10-year compounded sales CAGR of 12% demonstrates a credible long-term revenue growth track record
- 10-year compounded profit CAGR of 15% indicates consistent long-term earnings compounding
- Backed by global parent BASF SE, providing access to proprietary technology, R&D pipeline, and global best practices in chemicals
- Dividend payout ratio of 18.3% with a yield of 0.68% reflects a commitment to returning capital to shareholders while retaining earnings for growth
- P/B ratio of 4.04x, while not cheap, is supported by a 5-year average ROE of 16%, indicating the company has historically generated returns above its cost of equity
- 5-year compounded sales growth of only 9% and 3-year sales CAGR of just 3% point to sluggish top-line momentum
- ROE has deteriorated from a 5-year average of 16% to 11% in the last year, signaling declining capital efficiency
- Stock price CAGR of -20% over the past 1 year reflects significant market underperformance and negative sentiment
- 3-year compounded profit CAGR of only 2% suggests the recent 50% TTM spike may not be sustainable and could reflect base-effect recovery
- 5-year stock CAGR of just 2% implies the stock has delivered negligible wealth creation over a meaningful time horizon
- 3-year average ROE of 13.9% is considered low for a specialty chemicals company, especially one trading at a P/E of 24.9x
- P/E of 24.9x demands sustained earnings growth to justify the valuation, which is at odds with the patchy 3-year profit CAGR of 2%
- Dividend yield of 0.68% offers limited income cushion for investors during periods of capital depreciation
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- Q1FY27 profit surges 166% Aug 18
BASF India reported Q1FY27 net profit of ₹499 crore, a 166% jump driven by higher volumes and better price realization.
- Coatings business sale completed Aug 18
The company announced completion of its coatings business sale, streamlining its portfolio and unlocking value.
TL;DR: BASF India delivered a standout Q1FY27 with profit surging 166% to ₹499 crore on stronger volumes and pricing. The coatings business divestiture is now complete, sharpening the company's focus on core chemical operations. No visible headwinds emerged from recent news flow. The trend is clearly improving, though sustaining this earnings momentum through subsequent quarters will be key to watch.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 3,375 | 3,707 | 3,326 | 3,360 | 3,967 | 4,248 | 3,635 | 3,189 | 3,752 | 3,904 | 3,877 | 3,453 | 4,837 |
| Expenses | 3,177 | 3,473 | 3,114 | 3,114 | 3,654 | 4,047 | 3,465 | 3,126 | 3,530 | 3,750 | 3,707 | 3,341 | 4,333 |
| Operating Profit | 198 | 234 | 212 | 246 | 312 | 201 | 170 | 63 | 222 | 154 | 169 | 112 | 505 |
| OPM % | 6% | 6% | 6% | 7% | 8% | 4.7% | 4.7% | 2% | 6% | 3.9% | 4.4% | 3.2% | 10% |
| Other Income | 9 | 16 | 27 | 25 | 36 | 18 | 18 | 43 | 21 | 27 | 11 | 12 | 41 |
| Interest | 8 | 2 | 3 | 3 | 5 | 3 | 4 | 4 | 5 | 8 | 5 | 2 | 5 |
| Depreciation | 47 | 47 | 49 | 48 | 47 | 45 | 45 | 38 | 38 | 37 | 34 | 37 | 41 |
| PBT | 152 | 200 | 187 | 219 | 297 | 171 | 138 | 64 | 201 | 136 | 141 | 85 | 499 |
| Tax % | 26% | 26% | 25% | 26% | 26% | 25% | 25% | 27% | 27% | 25% | 26% | 25% | 27% |
| Net Profit | 113 | 149 | 140 | 162 | 221 | 128 | 104 | 47 | 147 | 101 | 105 | 64 | 362 |
| EPS in Rs | 26.03 | 34.45 | 32.36 | 37.31 | 50.96 | 29.56 | 23.93 | 10.88 | 34 | 23.34 | 24.29 | 14.69 | 83.64 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 4,706 | 4,749 | 5,073 | 5,583 | 6,026 | 7,595 | 9,558 | 13,100 | 13,645 | 13,767 | 14,811 | 14,985 | 16,071 |
| Expenses | 4,572 | 4,642 | 4,802 | 5,238 | 5,861 | 7,316 | 8,926 | 12,188 | 12,958 | 12,878 | 14,069 | 14,329 | 15,132 |
| Operating Profit | 133 | 107 | 271 | 346 | 165 | 279 | 633 | 911 | 687 | 890 | 742 | 656 | 939 |
| OPM % | 2.8% | 2.3% | 5% | 6% | 2.7% | 3.7% | 7% | 7% | 5% | 6% | 5% | 4.4% | 6% |
| Other Income | 39 | 173 | 27 | 182 | 139 | -4 | 419 | 37 | 53 | 76 | 114 | 70 | 90 |
| Interest | 96 | 148 | 142 | 113 | 85 | 83 | 38 | 17 | 14 | 16 | 16 | 20 | 20 |
| Depreciation | 142 | 163 | 169 | 153 | 147 | 181 | 174 | 171 | 182 | 191 | 170 | 145 | 149 |
| PBT | -66 | -30 | -12 | 261 | 72 | 10 | 840 | 760 | 543 | 759 | 671 | 562 | 861 |
| Tax % | 2% | 0% | 13% | 6% | -14% | -131% | 34% | 22% | 26% | 26% | 26% | 26% | — |
| Net Profit | -67 | -30 | -14 | 246 | 82 | 23 | 553 | 595 | 403 | 563 | 499 | 417 | 632 |
| EPS in Rs | -15.46 | -7.02 | -3.26 | 56.95 | 18.88 | 5.28 | 128 | 137 | 93.08 | 130 | 115 | 96.32 | 146 |
| Div. Payout % | -26% | -14% | -31% | 5% | 26% | 57% | 8% | 4% | 9% | 12% | 17% | 26% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 43 | 43 | 43 | 43 | 43 | 43 | 43 | 43 | 43 | 43 | 43 | 43 |
| Reserves | 1,119 | 1,073 | 1,059 | 1,301 | 1,370 | 1,201 | 1,743 | 2,293 | 2,658 | 3,180 | 3,614 | 3,934 |
| Borrowings | 1,600 | 1,349 | 1,275 | 868 | 912 | 822 | 286 | 122 | 106 | 156 | 157 | 132 |
| Other Liabilities | 1,406 | 1,311 | 1,498 | 1,635 | 1,524 | 2,764 | 3,072 | 3,652 | 3,758 | 3,853 | 4,517 | 4,072 |
| Total Liabilities | 4,168 | 3,777 | 3,875 | 3,846 | 3,849 | 4,830 | 5,144 | 6,110 | 6,565 | 7,233 | 8,330 | 8,181 |
| Fixed Assets | 1,351 | 1,289 | 1,222 | 1,117 | 957 | 965 | 817 | 763 | 793 | 759 | 694 | 725 |
| CWIP | 74 | 55 | 33 | 27 | 42 | 23 | 53 | 100 | 19 | 61 | 84 | 160 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 213 | 8 |
| Other Assets | 2,743 | 2,433 | 2,619 | 2,702 | 2,850 | 3,842 | 4,274 | 5,247 | 5,753 | 6,413 | 7,339 | 7,288 |
| Total Assets | 4,168 | 3,777 | 3,875 | 3,846 | 3,849 | 4,830 | 5,144 | 6,110 | 6,565 | 7,233 | 8,330 | 8,181 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | -96 | 199 | 221 | 290 | -77 | 572 | 483 | 330 | 531 | 807 | 389 | -101 |
| Investing | -163 | 199 | -66 | 158 | 177 | -21 | 182 | -120 | -199 | -450 | -111 | 377 |
| Financing | 372 | -425 | -133 | -465 | -95 | -464 | -592 | -257 | -91 | -102 | -137 | -170 |
| Net Cash Flow | 113 | -27 | 22 | -16 | 5 | 87 | 73 | -47 | 241 | 255 | 141 | 106 |
| Free Cash Flow | -268 | 195 | 143 | 251 | -148 | 516 | 417 | 206 | 468 | 708 | 221 | -292 |
| CFO/OP | -61 | 201 | 85 | 97 | -18 | 210 | 87 | 64 | 100 | 114 | 78 | -5 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 72 | 80 | 77 | 71 | 63 | 68 | 79 | 73 | 63 | 67 | 62 | 67 |
| Inventory Days | 106 | 85 | 93 | 94 | 99 | 93 | 73 | 66 | 71 | 68 | 80 | 79 |
| Days Payable | 98 | 117 | 120 | 117 | 103 | 133 | 126 | 112 | 108 | 114 | 118 | 107 |
| Cash Conversion Cycle | 80 | 49 | 50 | 48 | 59 | 28 | 25 | 26 | 26 | 21 | 24 | 40 |
| Working Capital Days | 43 | 43 | 36 | 28 | 32 | 10 | 26 | 34 | 37 | 44 | 41 | 51 |
| ROCE % | 0% | -2% | 5% | 9% | 1% | 6% | 23% | 34% | 20% | 25% | 18% | 15% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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63 extracted metrics + investor summaries across FY11–FY26.
Documents
Frequently Asked Questions about BASF
What does BASF India Ltd do?
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Which sector does BASF India Ltd belong to?
What is the market capitalisation of BASF India Ltd?
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What is the Return on Equity (ROE) of BASF India Ltd?
Company Information
BASF India Ltd's portfolio consists of six segments: Agricultural Solutions, Materials, Industrial solutions, Surface Technologies, Nutrition & Care and Chemicals.[1] It is a part of BASF group which have ~110,000 employees globally in almost every country in the world. It generated sales of ~59 billion euros in 2020.[2]
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