BASF India sales grow but Agricultural Solutions posts Q2 loss

BASF India Limited reported standalone revenue of Rs 4,832.19 crore in the quarter ended September 30, 2026, up from Rs 3,904.04 crore a year earlier, but Agricultural Solutions posted a Rs 28.63 crore loss before tax and interest. Materials, Industrial Solutions, Nutrition & Care and Chemicals recorded higher revenue than a year earlier.

Which BASF India segments increased sales in Q2?

Materials, Industrial Solutions, Nutrition & Care and Chemicals increased year-on-year revenue in the September 2026 quarter, while Agricultural Solutions declined. BASF India’s total segment revenue was Rs 4,832.19 crore, Rs 928.15 crore above the September 2025 quarter and broadly unchanged from Rs 4,837.44 crore in the June 2026 quarter.

Materials was the largest segment by quarterly revenue at Rs 1,464.34 crore, compared with Rs 1,135.04 crore a year earlier. Nutrition & Care recorded Rs 1,177.40 crore, up from Rs 873.86 crore, while Industrial Solutions rose to Rs 894.57 crore from Rs 726.48 crore. Chemicals increased to Rs 651.39 crore from Rs 494.09 crore.

Agricultural Solutions revenue fell Rs 32.44 crore year on year to Rs 616.08 crore, although it increased from Rs 557.03 crore in the June 2026 quarter. BASF India identifies Agricultural Solutions as its Crop Protection division and says the segment is seasonal in nature, which is relevant to comparisons between individual quarters.

Why did Agricultural Solutions report a Q2 loss?

Agricultural Solutions reported a loss before tax and interest of Rs 28.63 crore in the September 2026 quarter, compared with a profit of Rs 50.05 crore a year earlier and Rs 77.49 crore in the June 2026 quarter. The filing does not specify an operational cause for the quarterly loss beyond describing the Crop Protection business as seasonal.

For the six months ended September 30, 2026, Agricultural Solutions remained profitable, reporting Rs 48.86 crore before tax and interest. That was below Rs 215.44 crore in the prior-year six-month period, while first-half revenue declined to Rs 1,173.11 crore from Rs 1,326.40 crore.

Agricultural Solutions held segment assets of Rs 1,664.59 crore and liabilities of Rs 523.48 crore at September 30, 2026, resulting in capital employed of Rs 1,141.11 crore. This was above Rs 721.08 crore at March 31, 2026 but below Rs 1,229.22 crore at September 30, 2025.

How did BASF India’s other segments perform on profit?

Industrial Solutions and Nutrition & Care improved their quarterly segment profits, while Materials and Chemicals moved into losses. Industrial Solutions generated Rs 83.58 crore of profit before tax and interest, up from Rs 46.38 crore a year earlier, and Nutrition & Care earned Rs 65.51 crore, compared with Rs 9.30 crore.

Materials reported a loss before tax and interest of Rs 45 lakh in the September 2026 quarter, against a profit of Rs 36.41 crore in the prior-year quarter and Rs 212.69 crore in the June 2026 quarter. Despite the quarterly loss, Materials generated Rs 212.24 crore in first-half segment profit, compared with Rs 24.79 crore a year earlier, on revenue of Rs 2,807.25 crore.

Chemicals recorded a quarterly loss of Rs 8.11 crore, reversing a Rs 12.28 crore profit a year earlier, despite its revenue increase. Its six-month profit was Rs 88.01 crore versus Rs 28.60 crore in the prior-year period; BASF India defines Chemicals as comprising Petrochemicals and Intermediates.

What do BASF India’s six-month segment figures show?

The six-month figures show revenue expansion across Materials, Industrial Solutions, Nutrition & Care and Chemicals, while Agricultural Solutions contracted. Total standalone segment revenue rose to Rs 9,669.63 crore for the six months ended September 30, 2026 from Rs 7,655.82 crore in the corresponding prior-year period.

Industrial Solutions increased first-half revenue to Rs 1,894.46 crore from Rs 1,446.35 crore, while its segment profit rose to Rs 208.53 crore from Rs 75.04 crore. Nutrition & Care revenue grew to Rs 2,161.37 crore from Rs 1,722.35 crore and its segment profit increased to Rs 76.57 crore from Rs 29.53 crore.

Materials remained the largest segment by first-half revenue at Rs 2,807.25 crore, followed by Nutrition & Care at Rs 2,161.37 crore. Chemicals generated Rs 1,579.56 crore, up from Rs 934.00 crore, whereas Agricultural Solutions was the only one of the five operating segments to report both lower six-month revenue and lower segment profit.

How did segment results translate into BASF India’s overall profit?

BASF India’s total segment result was Rs 105.85 crore in the September 2026 quarter, below Rs 156.67 crore a year earlier and Rs 524.12 crore in the June 2026 quarter. After finance costs of Rs 2.54 crore and net unallocable expenditure of Rs 20.24 crore, standalone profit before tax and exceptional items was Rs 83.07 crore, compared with Rs 135.59 crore a year earlier.

For the six months ended September 30, 2026, total segment results increased to Rs 629.97 crore from Rs 373.95 crore. Standalone profit before tax before exceptional items was Rs 564.18 crore, and total profit before tax was Rs 582.33 crore after a Rs 18.15 crore exceptional gain on the June 30, 2026 sale of BASF India Coatings Private Limited.

Materials had the largest segment asset base at Rs 2,704.70 crore at September 30, 2026, followed by Agricultural Solutions at Rs 1,664.59 crore and Nutrition & Care at Rs 1,623.65 crore. Materials’ capital employed was Rs 1,181.73 crore, compared with Rs 939.50 crore a year earlier, while Industrial Solutions’ capital employed increased to Rs 716.50 crore from Rs 482.30 crore.

Conclusion

BASF India’s September 2026 quarter combined a Rs 928.15 crore year-on-year increase in revenue with uneven segment profitability. Materials, Industrial Solutions, Nutrition & Care and Chemicals lifted sales, but Agricultural Solutions, Materials and Chemicals reported quarterly losses before tax and interest, reducing total segment results to Rs 105.85 crore.

The disclosed next development is the proposed demerger of the Agricultural Solutions Business into BASF Agricultural Solutions India Limited. Shareholders approved the scheme on June 24, 2026, but the transaction remains subject to requisite approvals, while the seasonal Crop Protection segment’s results after its Rs 28.63 crore quarterly loss remain relevant.