Stock Report

Bayer CropScience Limited reports Q3 results for FY 2021-22

Posted On : 2022-02-04 22:10:22( TIMEZONE : IST )

Bayer CropScience Limited (BSE: 506285) announced today its unaudited results for the quarter and nine months ended December 31, 2021.

In the third quarter (Q3) of Financial Year (FY) 2021-22, Bayer CropScience Limited (BCSL) earned Revenue from Operations of ₹ 9,901 million, as compared to ₹ 9,182 million in the corresponding period of FY 2020-21. Profit Before Exceptional Items and Tax stood at ₹ 593 million, compared to ₹ 1,061 million in the corresponding period of FY 2020-21. Profit Before Tax (After Exceptional Items) stood at ₹ 1,178 million as compared to ₹ 1,061 million in the corresponding period of FY 2020-21.

For the nine months ended December 31, 2021, BCSL reported Revenue from Operations of ₹ 37,711 million, compared to ₹ 35,276 million for the corresponding period in FY 2020-21. Profit Before Exceptional Items and Tax for the nine months ended December 31, 2021 stood at ₹ 5,988 million, compared to ₹ 7,159 million for the corresponding period in FY 2020-21. Profit Before Tax (After Exceptional Items) stood at ₹ 6,573 million as compared to ₹ 7,147 million in the corresponding period of FY 2020-21.

Commenting on the company's performance, Simon-Thorsten Wiebusch, Executive Director, Bayer CropScience Ltd. said, "Our Q3 revenue from operations has registered an 8% growth over the same period last year despite unseasonal rains, crop infestations and a challenging rabi corn season. Growth was largely driven by our Crop Protection portfolio that witnessed a surge in demand with double-digit liquidation growth sustained by our strategy of prudent channel management and demand generation. Overall profitability was impacted by higher input and operational costs which included building out new business models for increasing market reach to smallholders, corn seed returns and obsolescence effects, offset by the exceptional income arising from the sale of the business of mustard, cotton, millet and sorghum seeds."

He further stated, "Enhancing real-time agronomy advisory, farm collectivization efforts and driving market linkages through Farmer Producer Organizations (FPOs) and digitalization are important drivers to transform Indian agriculture. Bayer stands committed to maximize its efforts to benefit smallholder farmers, expand the base of its Better Life Farming centers, create gender smart interventions, double down on its sustainability efforts and make Indian agriculture competitive."

During April to December 2021, Bayer conducted drone trials for spraying purposes as an agriculture industry-first. Bayer's Better Life Farming (BLF) global value chain initiative also entered into multiple strategic alliances to support over 500,000 smallholder farmers across the country.

Shares of Bayer Cropscience Limited was last trading in BSE at Rs. 4852.65 as compared to the previous close of Rs. 4989.00. The total number of shares traded during the day was 940 in over 452 trades.

The stock hit an intraday high of Rs. 5151.00 and intraday low of 4832.95. The net turnover during the day was Rs. 4604294.00.