BASF India Ltd, the Indian subsidiary of the German group BASF, has finally announced its financial results for the quarter ended on 31-Mar-2009.

The company has witnessed 3.25% surge in its net sales at Rs 20218 lacs for quarter ended on 31-Mar-2009, against Rs 19553 lacs for the quarter ended on 31-Mar-2008.

While on yearly basis, the company’s net sales grew to Rs.111560 lacs for the year ended on 31-Mar-2009, against Rs.91267 lacs for the year ended on 31-Mar-2008.

The company registered net profit of Rs.5.48 crore for the quarter ended on 31-Mar-2009 against Rs. 4.41 crore for the quarter ended on 31-Mar-2008.

While on yearly basis, the company posted net profit of Rs.68.64 crore for the year ended on 31-Mar-2009 against Rs.59.37 crore for the year ended on 31-Mar-2008.

In a separate release, BASF India Ltd has announced that the Board of Directors of the Company at its meeting held on April 16, 2009, inter alia, has recommended payment of dividend on the equity shares @ 70% for the financial year ended March 31, 2009. However, the final approval is yet to come.

Recently, its parent company BASF SE, has notified that it will make an open offer to buy up to 20 percent of Ciba India Ltd at Rs 237.13 per share after taking over its Swiss parent Ciba Holdings AG.

The offer follows BASF SE's global acquisition of Ciba Holding AG, a parent of Ciba India, which owns 69.28 percent in the local firm.

At 2:15 pm, the stock was trading at Rs.220, down by Rs.9 or 4 per cent. The stock hit an intraday high of Rs.239 and low of Rs.216.