Chandran said that the leather industry has shown distinct signs of revival, which was reflected in the 10 per cent rise in sales during the first-quarter ended June 30, 2000. BASF India also plans to transfer its textile dyes business to the local arm of German multinational DyStar, a global company styled as a joint venture between multinationals Hoechst AG and Bayer AG. The proposed move is in line with BASF's global plans aimed at divesting its textile dyes business to DyStar GmbH. Textile dyes account for roughly Rs 20 crore to Rs 25 crore of sales in BASF India. Textile chemicals as a whole accounted for 15 per cent (Rs 55.3 crore) of the total sales for the year ended March 31, 2000.

Chandran added that exports of dispersions and specialty chemicals registered a significant hike from Rs 70 lakhs to Rs 3.6 crore as on March 31, 2000 and this trend is expected to continue during the current year as well. For the quarter ended June 30 , BASF India sales grew by 21 per cent, profit before tax grew by 33 per cent and profit after tax rose by 26 per cent, against the quarter ended June 30, 1999.