Bayer CropScience Ltd

₹ 4,510 -2.30%

29 May - close price

About

Bayer CropScience is engaged in Agri Care business which primarily includes manufacture, sale and distribution of insecticides, fungicides, herbicide and various other agrochemical products and corn seeds.^[1]

Key Points

History^[1]
The Bayer group launched its Indian operations in 1958 by setting up an agrochemical manufacturing unit, in which the group has 68.58% stake. Company manufactures and markets crop protection solutions, and trades in seeds on behalf of Bayer Bioscience Pvt Ltd.

Website BSE NSE

Market Cap ₹ 20,267 Cr.
Current Price ₹ 4,510
High / Low ₹ 6,540 / 4,273
Stock P/E 29.4
Book Value ₹ 660
Dividend Yield 2.77 %
ROCE 29.1 %
ROE 23.7 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Company is almost debt free.
Company has been maintaining a healthy dividend payout of 74.3%
Company's working capital requirements have reduced from 75.2 days to 59.8 days

Cons

The company has delivered a poor sales growth of 5.90% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Commodities Chemicals Fertilizers & Agrochemicals Pesticides & Agrochemicals

Part of BSE 500 Nifty 500 Nifty500 Shariah BSE Commodities BSE 250 SmallCap Index BSE 400 MidSmallCap Index Nifty MidSmallcap 400 Nifty Smallcap 250 Nifty 500 Multicap 50:25:25 Nifty Total Market Nifty Smallcap250 Quality 50 Nifty500 Equal Weight Nifty500 LargeMidSmall Equal-Cap Weighted BSE 1000 BSE 500 Dividend Leaders 50 Nifty Chemicals Nifty Smallcap 500

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	982	1,740	1,617	955	792	1,631	1,738	1,057	1,046	1,915	1,553	1,106	1,101
	777	1,315	1,312	827	695	1,317	1,554	1,037	876	1,566	1,348	989	898
Operating Profit	206	425	305	128	97	314	184	20	171	348	205	117	203
OPM %	21%	24%	19%	13%	12%	19%	11%	2%	16%	18%	13%	11%	18%
	24	21	16	15	29	27	24	32	37	19	14	16	47
Interest	7	8	4	3	5	4	3	4	6	5	4	5	6
Depreciation	27	31	12	15	16	22	14	15	34	27	14	15	38
Profit before tax	195	406	306	124	105	316	190	34	168	335	200	113	206
Tax %	19%	19%	27%	25%	9%	20%	28%	-2%	15%	17%	24%	15%	21%
	158	328	223	93	96	254	136	34	143	279	153	96	162
EPS in Rs	35.27	73.09	49.60	20.72	21.36	56.56	30.33	7.61	31.89	62.01	33.98	21.29	36.07
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	3,660	2,769	2,803	2,710	3,167	3,609	4,261	4,734	5,140	5,106	5,473	5,675
	3,144	2,334	2,389	2,300	2,684	2,883	3,450	3,923	4,216	4,147	4,783	4,801
Operating Profit	516	435	414	410	483	726	812	812	924	959	691	874
OPM %	14%	16%	15%	15%	15%	20%	19%	17%	18%	19%	13%	15%
	88	82	70	39	51	-64	69	112	168	76	118	95
Interest	5	10	7	11	10	14	13	13	22	20	17	20
Depreciation	25	25	29	33	44	65	74	64	80	74	85	94
Profit before tax	574	482	448	404	480	583	794	847	990	941	707	855
Tax %	33%	35%	35%	26%	30%	19%	38%	24%	23%	21%	20%	19%
	383	315	291	300	337	474	493	645	758	740	568	689
EPS in Rs	104.59	89.13	82.31	87.41	98.18	105.58	109.72	143.58	168.71	164.77	126.38	153.35
Dividend Payout %	20%	19%	21%	21%	18%	24%	105%	104%	77%	85%	99%	39%

Compounded Sales Growth
10 Years:	7%
5 Years:	6%
3 Years:	3%
TTM:	4%

Compounded Profit Growth
10 Years:	8%
5 Years:	7%
3 Years:	1%
TTM:	21%

Stock Price CAGR
10 Years:	1%
5 Years:	-3%
3 Years:	2%
1 Year:	-21%

Return on Equity
10 Years:	21%
5 Years:	24%
3 Years:	23%
Last Year:	24%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	37	35	35	34	34	45	45	45	45	45	45	45
Reserves	1,996	1,804	2,021	1,744	2,205	2,528	2,505	2,479	2,667	2,804	2,806	2,921
	0	0	0	0	0	2	26	86	74	47	105	82
	740	597	769	756	1,310	1,262	1,663	1,742	1,893	1,701	2,290	2,652
Total Liabilities	2,773	2,437	2,825	2,535	3,549	3,836	4,239	4,353	4,679	4,597	5,246	5,699
	322	290	342	334	440	468	425	468	462	414	470	581
CWIP	1	17	24	36	47	56	76	98	109	119	119	5
Investments	29	68	50	0	0	41	52	38	41	54	35	57
	2,422	2,062	2,410	2,164	3,062	3,270	3,686	3,749	4,066	4,010	4,622	5,056
Total Assets	2,773	2,437	2,825	2,535	3,549	3,836	4,239	4,353	4,679	4,597	5,246	5,699

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	200	206	157	121	433	666	687	216	609	952	262	1,078
	485	16	-8	38	-113	-29	7	64	83	0	86	72
	-42	-590	-73	-581	-158	-148	-556	-703	-613	-656	-619	-624
Net Cash Flow	644	-367	76	-421	162	489	138	-424	79	296	-272	527
Free Cash Flow	297	170	108	80	378	638	656	168	537	912	222	1,014
CFO/OP	76%	86%	74%	53%	132%	110%	105%	59%	92%	113%	61%	142%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	57	53	72	89	81	73	65	77	69	69	63	72
Inventory Days	85	169	178	175	294	206	226	235	268	222	319	231
Days Payable	40	52	67	67	164	101	142	127	129	87	148	134
Cash Conversion Cycle	102	171	184	197	211	177	149	185	208	204	234	169
Working Capital Days	53	92	104	134	116	77	61	84	86	78	88	60
ROCE %	31%	25%	23%	22%	25%	30%	31%	31%	34%	34%	25%	29%

Insights

In beta

Dec 2016

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Better Life Farming (BLF) Centers
Number

		xx	xx	xxx	x,xxx	x,xxx	x,xxx
	xx	xx				xx	xx	xx
				xx	xx	xx	xx	xx
	xx.xx					xx.xx	xx.xx	xx.xx
xx.xx	xx.xx	xx.xx	xx.xx
			x,xxx			x,xxx	x,xxx
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							x,xxx	xx,xxx
			x.xx			x.xx		x.xx

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Agro Chemicals / Crop Protection Turnover Contribution
%

Smallholder Farmers Reached
Million

Hybrids and Seeds Turnover Contribution
%

Innovation Contribution to Total Business
%

Active Distributors (Dealers)
Number

Corn Seed Market Position
Rank

Bayer Direct Seeded Rice (DSR) Acres
Acres

R&D Expenditure (Percentage of Turnover)
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	71.44%	71.44%	71.44%	71.44%	71.44%	71.44%	71.44%	71.44%	71.44%	71.44%	71.44%	71.44%
	3.18%	3.30%	3.53%	3.62%	3.63%	3.30%	3.42%	3.49%	3.64%	3.80%	3.84%	3.89%
	13.06%	13.23%	12.70%	12.80%	12.47%	12.08%	11.69%	11.56%	11.38%	11.22%	11.47%	11.89%
	12.32%	12.05%	12.33%	12.15%	12.47%	13.18%	13.45%	13.53%	13.55%	13.56%	13.27%	12.79%
No. of Shareholders	48,404	45,329	46,907	45,852	46,201	51,289	54,289	54,216	55,753	58,109	58,571	55,795

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	68.58%	68.69%	68.69%	71.43%	71.43%	71.43%	71.44%	71.44%	71.44%	71.44%
	7.61%	4.43%	3.62%	2.17%	2.87%	2.90%	3.18%	3.62%	3.49%	3.89%
	12.57%	14.42%	15.88%	13.86%	12.49%	12.90%	12.74%	12.80%	11.56%	11.89%
	11.24%	12.46%	11.80%	12.53%	13.21%	12.77%	12.64%	12.15%	13.53%	12.79%
No. of Shareholders	22,176	44,345	44,093	57,059	65,285	60,230	57,253	45,852	54,216	55,795

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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