Chemical Sector Company Net Profit Falls 45%, Announces Rs 8/Share Dividend

Mid cap company operating in chemical sector, BASF Ltd on May 10 announced a sharp 45% dip in net profit at Rs 82.39 crore for the quarter ended March 31. The company announced its net profit at Rs 149.85 crore in the year ago period. The company also recommended a dividend of Rs 8/- per equity share i.e. 80% for the financial year ended March 2023. Last trading price of BASF Share is Rs 2399.40 per share with intraday fall of 1.10%.

Q4 FY23 Results: BASF declared its revenue from operations declined 3.25% for the quarter under consideration at Rs 3249.95 crore as compared to Rs 3359.46 crore in the same period a year ago. The company's net profit fell 32.36% to Rs 402.89 crore as against Rs 594.84 crore in FY2021-22, according to the regulatory filing of BASF.

BASF Declares Dividend: According to the BSE filing of the company, "The Board of Directors of the Company at their meeting held today i.e., 10th May 2023 have recommended a dividend of Rs. 8/- per equity share i.e., 80% for the financial year ended 31st March 2023, subject to the approval of the shareholders at the forthcoming Annual General Meeting. The dividend, if approved, by the shareholders, will be payable on or after 8th August, 2023."

BASF Stock Performance & Return: Last trading price of BASF is Rs 2399.40 apiece on BSE. Its 52-week high price is Rs 3525.00 per share and 52-week low price is Rs 2195.00 per share, respectively. Its market capitalisation is Rs 10,385.96 crore.
The stock declined 10% in last 1-year, 3% in last 2-years, and gave 139% return in last 3-years.

BASF About: BASF India is a diversified manufacturer of chemicals and specialty chemicals used in a several industries including textiles, paper, construction and paints. Its products include a variety of plastics & fiber intermediates, leather auxiliaries, finishing agents, pesticides, tanning agents, dyestuffs, oil & well chemicals and dispersions, among others.