Event Overview

BASF India Limited convened its 82nd Annual General Meeting (AGM) on Wednesday, August 12, 2026, at 3:00 PM via video conferencing, in compliance with MCA and SEBI circulars. The live stream was webcast on NSDL's website. The requisite quorum was present. The meeting was chaired by Mr. Pradip P. Shah, Chairman, and the proceedings were subsequently conducted by Mr. Alexander Gerding, Managing Director.

Financial Performance

FY25-26 Consolidated Performance (Year ended March 31, 2026):

  • Revenue: INR15,539 crores, a 2% increase year-on-year (YoY). This growth was driven by a 5.9% volume increase, partially offset by a 4.6% decrease in price realization.
  • Profit Before Tax and before exceptional items: INR564 crores, a 9% decrease YoY (from INR617 crores in FY25). The decline was attributed to higher input costs and an unfavorable product mix, particularly in the last quarter.
  • The Board recommended a dividend payout of 250%, or INR25 per equity share.

Q1 FY27 Performance (Quarter ended June 30, 2026):

  • Revenue: INR4,998 crores, a 29% increase compared to Q1 FY26 (INR3,875 crores), driven by higher volumes and better price realization.
  • Profit Before Tax and before exceptional items: INR499 crores, a 166% increase compared to Q1 FY26 (INR188 crores).

Strategic Updates & Corporate Actions

Demerger of Agricultural Solutions Business:

  • The scheme for the demerger of the agricultural solutions business was approved by shareholders with a 99.99% majority in June 2026.
  • The new entity will be named BASF Agricultural Solutions India Limited (BASIL).
  • The Company is expecting approval from the National Company Law Tribunal (NCLT) by the end of 2026.
  • The demerger is targeted to be effective January 1, 2027, with the listing of BASIL on Indian stock exchanges expected in the first half of 2027.
  • Upon completion, BASF India shareholders will receive one share of BASIL for every share held in BASF India.

Sale of Coatings Business:

  • The Company completed the transfer of 100% of its shares in BASF India Coatings to the Carlyle Group on June 30, 2026.
  • The business now operates under Carlyle's ownership under the 'Surventis' brand.
  • BASF India received proceeds of approximately INR230 crores from this transaction.

Operational & Business Highlights

Safety & Sustainability:

  • The Company maintained a strong safety performance in 2025 and YTD 2026 with no high-severity or process safety incidents. Two lost-time injuries were reported at the Dahej site in 2026.
  • The Thane and Panoli manufacturing sites achieved GREEN ratings in their responsible care audits.
  • A partnership with Clean Max will increase the share of renewable energy (hybrid solar and wind) across all manufacturing sites in Gujarat and Maharashtra to 75-80%.
  • Polyurethane solutions for cold storage won the PU Tech Award for improving energy efficiency and reducing carbon emissions.

Capacity Expansion & Projects:

  • Cellasto Expansion, Dahej: A new facility was completed in May 2026 and is in the final commissioning phase. It is expected to be operational by the end of 2026, ahead of schedule and under budget. The project cost is approximately INR104 crores.
  • Dispersion Facility, Mangalore: Ground was broken on a new production line in February 2026. The project is progressing well and is expected to be operational by the end of 2027. The project cost allocated so far is INR5.6 crores.

Innovation & Partnerships:

  • Launched the Clearfield Mustard Production System in partnership with Corteva.
  • Expanded the crop protection portfolio with new products: Melyra, Frivon, and Inveris Gold.
  • Showcased innovations at customer platforms including Honda, Hyundai, and JSW Motors Technology Days, The Battery Show India, and PlastIndia.

CSR & Employee Engagement:

  • CSR expenditure for FY26 was INR12.93 crores, focused on quality education, clean water, sanitation, and climate action aligned with UN SDGs. The budget for FY27 is INR13.16 crores.
  • A new partnership with Green Worms and Serve Rural in Kerala enables the collection and recycling of post-consumer polyurethane waste.
  • Employee engagement score was 85% and inclusion score was 86%, both above Asia Pacific and global BASF benchmarks.
  • Total number of employees as of March 31, 2026, was 1,250. The attrition rate is approximately 5%.

Shareholder Q&A Key Points

Management addressed numerous shareholder questions, providing the following clarifications:

  • Competitors: Mentioned include Bayer, Syngenta, Rallis, PI Industries (Agrochemicals); Dow, Vixen, Apcotex (Dispersions/Pigments); Galaxy Surfactants (Care Chemicals); Kansai, AkzoNobel (Coatings); Dow, Covestro, Huntsman (Polyurethanes).
  • Market Share: The agricultural solutions business holds a market share of approximately 7%.
  • Capacity Utilization: Overall plant utilization was between 82-87% in FY26. Dahej site utilization is in a similar range.
  • Business Mix: Own Manufactured Products (OMP) constituted 42% of sales, while merchandise/trading constituted 58% in FY26.
  • Exports: Export sales were INR403 crores (2-2.5% of total sales) in FY26, up from INR383 crores the previous year. Majorly contributed from Dahej and Mangalore plants.
  • R&D Spend: Research and development expenditure for FY26 was INR47.8 million.
  • FX Hedging: More than 90% of import payables are hedged to manage currency volatility.
  • Cash Balance: The Company had a cash balance of INR869 crores as of March 31, 2026 (vs. INR763 crores previous year). This is maintained for liquidity, ongoing capex, dividend payments, and potential business opportunities. Cash attributable to the agriculture segment will be transferred to BASIL upon demerger.
  • AGM Format: Future AGM formats (virtual/hybrid/physical) will be decided based on statutory requirements applicable at the time.
  • Share Split: There are no current plans for a stock split.

Voting & Conclusion

  • Remote e-voting was provided from August 9, 2026 (9:00 AM) to August 11, 2026 (5:00 PM). Electronic voting was also facilitated during the meeting for shareholders who had not voted remotely.
  • Mr. Hemant Shetye, designated partner of HSPN & Associates LLP, was appointed as the scrutinizer for the e-voting process.
  • The company received corporate representations under Section 113 of the Companies Act, 2013, from BASF SE and BASF Schweiz AG, representing 73.33% of the paid-up equity capital (317,43,220 equity shares).
  • The results of the voting on all resolutions will be declared within 2 working days after the meeting and intimated to the stock exchanges (BSE and NSE).
  • The meeting was declared concluded after the e-voting window was closed.