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Company News, Finance

For the quarter ended on March 31, 2022, the company has registered PBT at Rs 1,785.1 million

BASF India registered sales of Rs 130,997.3 million for the financial year ended March 31, 2022, as compared to Rs 95,583.4 million in the previous year, representing an increase of 37 per cent.

The company reported Profit before tax (before exceptional items) of Rs 7,473.6 million as compared to Profit before tax (before exceptional items) of Rs. 4,378.7 million in the previous year.

For the quarter ended on March 31, 2022, the company registered sales of Rs 33,895.6 million, as compared to Rs 28,055.8 million for the corresponding period of the previous year, an increase of 21 per cent. Profit before tax (before exceptional items) stood at Rs 1,785.1 million for the quarter that ended on March 31, 2022, compared to Profit before tax (before exceptional items) of Rs 1,706.1 million for the corresponding period of the previous year.

“BASF India Limited registered a robust March quarter with sales and profits before exceptional items exceeding the previous quarter and the corresponding previous year quarter,” said Narayan Krishnamohan, Managing Director, BASF India.

“Despite the challenges posed by the second wave of COVID-19, an erratic monsoon, supply chain disruptions and intense cost pressure from commodity pricing, the company delivered record sales and profit before exceptional items for FY22, driven by volume and margin growth, Stringent working capital and cash management enabled the Company to end the financial year with zero debt,” he added.

The Board of Directors of the company have recommended a dividend of Rs 6 per equity share i.e. 60 per cent for the financial year ended March 31, 2022. This is subject to the approval of the shareholders at the forthcoming Annual General Meeting.

For the quarter ended on March 31,

Finance, Transportation

Sonalika has sold 1,05,250 tractors in April-December 2021.

Carrying forward the strong momentum built throughout FY’21, Sonalika Tractors has breached past 1 lakh tractor sales mark in just 9 months (April-Dec’21) of FY’22, thereby charting the path to a new paradigm in 2022. Meanwhile, Sonalika has also entered the coveted club of 25,000+ export tractor sales in 9 months, a unique feat which remains a distant dream for many companies globally. Sonalika has further extended its lead in exports with 3,432 tractor sales and 31.2 per cent market share in December 2021.

Cumulatively, Sonalika has sold 1,05,250 tractors in Apr-Dec 2021. Year after year, Sonalika Tractors has been fast forwarding its sales performance of crossing 1 lakh tractors mark. The company has been manoeuvring through toughest of COVID-19 waves while addressing farmer’s critical requirements with superior technology powered tractors and implements. This also includes the recently launched Sonalika Tiger DI 75 4W CRDs tractor that delivers twin benefits in one tractor – the power of 75 HP tractor and fuel economy of 65 HP tractor. 

Sharing his viewpoint on the remarkable achievement, Raman Mittal, Executive Director, Sonalika Tractors, said, “It gives me great pleasure to announce that we have created a new record sales performance to breach the 1 lakh tractor sales mark in just 9 months of FY’22. Month after month, our strong focus on our mission and persistent approach of closely working with farmers while addressing their diverse needs, has enabled us to clock the extraordinary record 1,05,250 overall tractor sales within 9 months of FY’22 (April-Dec’21).

Sonalika has sold 1,05,250 tractors in April-December

China

The latest order for dried mushroom slices is from one of the company’s long-term customers.

Farmmi, Inc, an agriculture products supplier in China, has announced the that the company’s subsidiary Zhejiang Farmmi Biotechnology, has won another new repeat product order. The latest order for dried mushroom slices is from one of the company’s long-term customers, which will export Farmmi’s products to Southampton, England.

Yefang Zhang, Farmmi’s Chairwoman and CEO, commented, “This is another important win for us. It continues the meaningful sales growth trajectory we have been building all year as we leverage our increased investments in sales and marketing to build our global brand, and it also benefited from our consistent product availability due to our strong supply chain relationships. This latest win serves as an example of our successful strategy of working alongside our customers to support them across our broader product line as part of our efforts to increase revenue per customer, while also nurturing the relationships that will drive our longer-term success.”

The latest order for dried mushroom slices