BASF INDIA LTD

BASF India Limited, the flagship company of the BASF Group in India was incorporated as 'R A Cole Private Limited' on May 13, 1943 and the name was changed to Indoplast Limited in January, 1963. The Company got their name changed to BASF India Limited in February, 1999. BASF India Limited is a leading transnational company in the Indian chemical industry. The company's portfolio is organized into 6 segments: Agricultural Solutions, Materials, Industrial solutions, Surface Technologies, Nutrition & Care and Chemicals. The Agricultural Solutions business includes products for crop protection like insecticides, herbicides, fungicides and plant growth regulators. The Performance Products segment includes the Performance Chemicals, Dispersions & Pigments, Care Chemicals, Nutrition & Health products and Paper Chemicals businesses. The Chemicals segment includes Intermediates, Petrochemicals & Monomers. The Functional Materials & Solutions segment comprises of Coatings, Construction Chemicals, Performance Materials and Process Catalyst businesses. Cyanamid Agro Ltd was merged with the company with effective from April 1, 2001. In the line of global arrangement between Bayer CorpScience AG and BASF AG, the company acquired the Fipronil activities and assets in India from Bayer India Ltd during the year 2003-04. BASF India executed the licence agreement with Bayer CropScience Ltd for grant of Licensed Rights detailed in the Agreement relating to Agricultural uses of Fipronil during the year 2004-05. BASF Polyurerhanes India Ltd was incorporated on April 6, 2005 for establishing a system house, within Turbhe works, to manufacture Polyurethane System products. The indenting and trading activity relating to the Polyurethane Systems business of the company was transferred to the company's wholly owned subsidiary, BASF Polyurerhanes India Ltd with effect from July 1 2006. They commenced their commercial production from June 2006. The company expanded the polymer dispersions capacity at Mangalore from 20000 tpa to 65000 tpa. The new dispersions plant of 45000 tpa capacity was commissioned on March 9, 2007. Also, the company started a technical support centre namely BASF Leather Competence Centre in September 2006 for the leather industry at Bantala Leather Complex, Kolkata. During the year 2007-08, the company expanded the capacity in Styropor plant by 10Ktn and was commissioned in February 2008. During the year 2009-10, the merger of Ciba Group Companies in India, w.e.f. February 1, 2010, the Specialty Chemicals business of Ciba integrated into the Performance Products segment. The complementary business portfolio will create new business opportunities in paper chemicals, care chemicals and performance chemicals. In addition, the manufacturing facility at Ankleshwar and the state-of-the-art technical lab in Mumbai will also add value to the organization. In 2010-11, Moving towards the Vision of having a Single Legal Entity in India, BASF successfully completed the merger of BASF Construction Chemicals (India) Private Limited (BCCIPL), BASF Coatings (India) Limited (BCIN) and BASF Polyurethanes India Limited (BPIL) in January 2011. Further, with the worldwide acquisition of Cognis Holding GmbH, has been fully integrated with the company effective July 1, 2011. The complementary business portfolio of Cognis will further strengthen BASF India's presence in value-added products. During the year 2011-12, the company invested Rs. 1000 crores in Dahej, Gujarat for strengthening its local manufacturing activities to create competitive advantages for its customers and facilitate faster growth. The Dahej site, besides offering proximity to raw materials and customers, complements the existing manufacturing set-up of the company, thus supporting business growth in important northern and western regions of India. Additionally, to build on existing competencies and ensure operational excellence, the company has also undertaken facility expansion and implemented process enhancement techniques at its Mangalore and Ankleshwar sites during the year. In the year 2012-13, On account of continuous pressure on Expandable Polystyrene (EPS) business due to strong competition coupled with high overcapacities and low margins, BASF planned to shut down the EPS business, forming part of Plastics segment, including the Company's STYROPOR production facility at Thane. The contribution of this business to the total turnover was marginal; hence there will be no material impact on the Company's growth strategy. During the year 2013-14, BASF has set up a precious metal catalyst plant and product development laboratory at its Mangalore site and Agricultural Research Station at Lonikand in Pune. The company also expanded its construction chemicals operations at Nellore in Andhra Pradesh and Kharagpur in West Bengal. The company has ceased manufacturing operations at the Automotive Coatings Blending plant at Khuskhera in Rajasthan due to high safety risks. During the year 2014-15, the new chemical production site at Dahej, Gujarat involving an investment of Rs. 1,000 crores commenced commercial production. BASF SE turned 150 in 2015. The company celebrated BASF SE's 150th Anniversary with its partners. During the financial year ended 31 March 2016, BASF India incurred capital expenditure aggregating to Rs.1,655.8 million. To expand its product portfolio in Agricultural Solutions business, BASF India introduced two new crop protection products namely: OPERA and TYNZER during the year. Many training and marketing programs were carried out to launch these products within the farming community and were well received by the farmers. During the year under review, the company's leather chemicals business launched the dry fast system, which led to water saving and process time reduction. In line with the strategy of moving closer to the customer, this business shifted its headquarters to Chennai in August 2015, with a clear objective of enhancing customer service through innovative, sustainable and reliable products and offerings. The company's Fuel and Lubricants business established new markets in the area of coolants & brake fluids and service fills for automotive OEM's (Original Equipment Manufacturers) during the year. The company's animal nutrition business launched a new generation enzyme namely Natuphos E during the year. The year saw a divestiture in the Pharma solutions business of the company. A part of the portfolio on API and Custom Synthesis was divested globally. During the year under review, BASF India commissioned a new Admixtures plant at Nellore in Andhra Pradesh. This plant will cater to the growing needs of customers in Andhra Pradesh, Telangana and Tamil Nadu. The year also witnessed the groundbreaking of new Admixtures plant at Kharagpur, West Bengal, which is expected to be inaugurated during the financial year 2016-17. This site will produce the entire range of admixtures and accelerators and will cater to the demands of customers based in East India and Bhutan. Commercial supplies from BASF India's fine chemicals catalyst plant at Mangalore, which caters to the pharmaceutical & agrochemical industries, picked up during the year. During the year under review, production volumes at BASF India's plants increased over the previous year primarily due to commencement of commercial production at the new plants at Dahej and Nellore. All the 10 plants at the Dahej site commenced commercial production resulting in higher output during the year under review. Capacity debottlenecking was carried out at the company's Ankleshwar plant manufacturing imaging products which led to improved capacity. In May 2015, BASF India inaugurated the new Agricultural Research Station in Pune. This new research & development center will focus on undertaking global research in the area of crop protection. In July 2015, BASF India sold its textile chemicals business to Archroma India Private Limited pursuant to the global divestment of the said business by BASF SE, after receipt of the requisite approvals. Effective 1 July 2015, BASF India entered into a long-term supply agreement with Archroma India Private Limited to manufacture & supply textile chemicals products in India. BASF SE, Germany has decided to refocus its global plant biotechnology research portfolio and restructure the global operations of its Plant Science subsidiary. In India, BASF India has been engaged in a project to develop yield-enhancing traits in rice on behalf of BASF Plant Science Company, GmbH, Germany. Consequent upon the global restructuring, the yield enhancement project in rice will be discontinued and the field-testing sites in India will be closed by end of the year 2016, subject to receipt of requisite approvals. During the financial year ended 31 March 2017, the sales of BASF India's Chemicals segment were lower as compared to the previous year on account of lower feedstock prices as well as limited volume availability on certain product lines. During the year under review, BASF India incurred capital expenditure aggregating to Rs. 834.4 million. Pursuant to the sale of global industrial coatings business by BASF SE, Germany to AkzoNobel, the industrial coatings business of BASF India was transferred to Akzo Nobel India Limited with effect from 14 December, 2016. With this divestiture, BASF India would continue to emphasize on core automotive OEM & decorative paints business. In January 2017, BASF India entered the crop protection market for rice in India and would be offering a range of new solutions to boost yields in India by managing rice diseases, weeds and pests. With the launch of products i.e. Seltima, Adexar and Basagran, BASF India will provide comprehensive solutions that effectively meet consumers' expectations for healthy, high quality food. Pursuant to the global sale of BASF's Leather Chemicals business to Stahl Group, the Leather Chemicals business of BASF India Limited was transferred to Stahl India Private Limited with effect from 30 September 2017. BASF India Limited has received an aggregate sum of Rs. 1,976.3 million (including GST) from Stahl India Private Limited as the consideration for the sale of the business. BASF India Limited is supplying leather chemical products from its manufacturing facilities to Stahl India Private Limited under a supply arrangement. During the financial year ended 31 March 2018, BASF India Limited incurred capital expenditure aggregating to Rs. 679.4 million. During the year under review, credit rating agency CRISIL revised its outlook on the Non-Convertible Debenture programme of BASF India Limited to Stable' from Negative' while reaffirming the rating at CRISIL AAA'. During the year under review, the company's Fuel and Lubricants business ventured into the untapped markets of Polyisobutene, base-stocks and compounded lubricants. New aftermarket avenues for coolant were identified and products introduced. Fuel additives were established in the factory to fill markets of the premium automotive OEM's (Original Equipment Manufacturers) during the year. With a view of enlarging the company's business portfolio, the company's Chemicals business introduced more than six new products in the market and acquired several new customers. The Construction Systems of the Construction Chemicals business launched new products such as MasterLife CI220 (Auxiliary segment), MasterSeal 635 (Waterproofing systems) and MasterSeal 7000CR (Repair & Protection system). Commercial supplies from the company's fine chemicals catalyst plant at Mangalore, which caters to the pharmaceutical & agrochemical industries, picked up during the year and the momentum is expected to build up further in the coming years. During the year under review, Dahej site continued to ramp up production and registered higher volumes in all its plants. Debottlenecking of the Care Chemicals Plant and Splitter were successfully completed during the year. In May 2018, BASF SE, Germany signed, an agreement with Solenis, USA to globally combine BASF's Paper wet-end & water chemicals business with Solenis. Consequently, BASF India's paper wet-end and water chemicals business would be transferred to Solenis in India, subject to requisite approvals. Presently, the paper wet-end and water chemicals business of BASF India forms part of the Performance Products segment of the company. Pursuant to the global combination of BASF's Paper wet-end & Water Chemicals businesses with Solenis, the Company's Paper wet-end and Water Chemicals businesses were transferred to Solenis Chemicals India Private Limited with effect from 1st February, 2019 for a consideration of Rs. 2,520.0 million (based on an Independent Valuation Report), subject to working capital adjustments. As a part of its active portfolio management, BASF SE, Germany, continuously evaluates its businesses. Accordingly, in October 2018, BASF SE decided to evaluate strategic options for its Construction Chemicals business. BASF SE could consider a merger of this business with a strong partner as well as a divestiture, subject to such approvals, as may be necessary. The Construction Chemicals business comprises of the Admixture and the Construction Systems and forms part of the Surface Technologies segment. In order to further develop the Pigments business and to fully leverage its growth potential arising out of the emerging Asian region, the Board of Directors of the Company had approved the transfer of the Pigments business of the Company, to BASF Colors & Effects India Private Limited, a 100% subsidiary of BASF Colors & Effects GmbH, Germany at a consideration to be determined by an independent valuer (on an arm's length basis). Accordingly, the Pigments business of the Company was transferred to BASF Colors & Effects India Private Limited with effect from 1st January, 2019 for a consideration of Rs. 190.0 million based on the valuation of an Independent Valuer. During the FY2019,the company spent towards Capital Expenditure(CAPEX) amounting to Rs 674.5 million. The Board of Directors of the Company at its Meeting held on February 11, 2020, have approved the proposal to transfer its construction chemicals business to Master Builders Solutions India Pvt. Ltd., a fellow subsidiary Company, at a consideration of Rs. 5,951.6 million The business transfer was also approved by the shareholders of the Company vide postal ballot results announced on April 22, 2020. The Company has entered into a business transfer agreement with Master Builders Solutions India Pvt. Ltd. on May 14, 2020. The transaction is expected to close by second quarter of the financial year 2020-21. The COVID-19 pandemic has severely disrupted business operations due to lockdown and other emergency measures imposed by the governments. The operations of the Company were impacted, due to shutdown of plants and offices following nationwide lockdown. The Company continues with its operations in a phased manner in line with directives from the authorities. During the FY2020,the company spent towards Capital Expenditure(CAPEX) amounting to Rs 726.9 million. The Board of Directors of the Company at their meeting held on 11th February 2020 had approved the divestiture of its Construction Chemicals business to Master Builders Solutions India Private Limited for a consideration of Rs. 5,951.6 million, subject to the approval of the Shareholders of the Company. The Shareholders of the Company approved the said divestiture on 21st April 2020 and accordingly, the Company's construction chemicals business was transferred to Master Builders Solutions India Private Limited with effect from 1st July 2020. Pursuant to the approval of the Shareholders of the Company, the Company had, on 18th August 2020, acquired 100% stake in BASF Performance Polyamides India Pvt Ltd for a consideration of Rs. 3,029.0 million, thereby making it the Company's wholly owned subsidiary. The Board of Directors of the Company at their meeting held on 27th August 2020 had approved the Scheme of Merger by way of absorption of BASF Performance Polyamides India Pvt Ltd. with the Company, which strengthens the Company's position as a solution provider for key industries & would enhance market access to key growth markets. As BASF Performance Polyamides India Pvt Ltd. was a wholly owned subsidiary of the Company, The Hon'ble National Company Law Tribunal, Mumbai vide its Order dated 6th January 2021 sanctioned the Scheme of Merger, effective 1st February 2021 (being the Appointed & Effective Date) and accordingly, BASF Performance Polyamides India Pvt Ltd stands merged with the Company During the financial year 2021-22, Company invested in a technical services laboratory to support local pharmaceutical companies,. It continued the ongoing project work by establishing an additional production line for manufacture of Dispersions at Dahej Plant and enhancing quality in the Coatings business at Mangalore Plant. The product Lupranate MS/4 produced at Dahej plant, is now being supplied to a customer near Mumbai in Liquid form in ISO tankers. It extended the IT tool for monitoring statutory compliances at its Thane and Panoli sites. An efficient compressor for ice making plant and DG set was installed at Mangalore site and use of renewable power by installation of Solar panels has been initiated at Dahej site. It initiated work on replacing underground Fire hydrant pipe with over ground lines at its Mangalore site to reduce corrosion. Similarly, the Company also redesigned / reconfigured piping to improve flow of gas from the process plant to Thermal oxidizer at its Dahej site. During the year 2021-22, the Company sold Kaolin Minerals Business, which forms a part of the Performance Chemicals Division of the Industrial Solutions Segment of the Company to KaMin LLC / CADAM S.A. (KaMin), headquartered in Macon, United States. It divested the manufacturing site of BASF Corporation in Florida, USA and the associated Attapulgite business for a purchase price of USD 60 million to Clariant Corporation USA. In 2023, the Company launched new innovations such as Exponusr, a revolutionary insecticide for farmers in the fruits and vegetable segment; it also launched 'Dynagor' range of tropical coolants designed specifically for Indian weather conditions. Its Agricultural Solutions business launched novel Insecticide Exponus for powerful, and versatile control of the toughest insect pests like Caterpillars and Thrips. The innovative products which were launched in architectural coatings business during the financial year 2022-23 were the DPUR paint. It started the production of Sovermol at its Mangalore site; launched Dynago at the Automotive Fluids range of tropical coolants in India; launched Probiolif, a cosmetic ingredient. In FY23-24, the Company incorporated BASF India Coatings Private Limited as its wholly owned subsidiary on 11 December, 2023. The Company launched Efficonr Insecticide-powered by Axalionr Active, for effective control of piercing and sucking pests in 2024. The Construction division of the Company launched Damp proofing / Efflorescence Resistance Primer and the Paper segment launched high strength binder for duplex boards. In FY 2024-25, Company expanded its Agricultural Solutions portfolio with new launches such as Efficon, Imunit, Pirate, and Meritor, strengthening its presence in insecticides and crop nutrition. In May 2025, the launch of the insecticide Valexio and the fungicide Mibelya further strengthened its position in the rice crop segment. Company has transferred its Coatings business to BASF India Coatings Private Limited, its wholly owned subsidiary effective January 1, 2025. Further, the Board of Directors of the Company at its meeting held on May 14, 2025 has approved the Scheme of Arrangement amongst the Company, BASF Agricultural Solutions India Ltd and their respective shareholders, providing for the demerger of the Company's Agricultural Solutions Business to BASF Agricultural Solutions India Ltd.