Bayer CropScience Ltd

About [ edit ]

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.#

Key Points [ edit ]
  • Market Cap 24,185 Cr.
  • Current Price 5,381
  • High / Low 6,601 / 4,269
  • Stock P/E 49.1
  • Book Value 563
  • Dividend Yield 1.67 %
  • ROCE 30.0 %
  • ROE 23.8 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 20.85%

Cons

  • Stock is trading at 9.55 times its book value
  • The company has delivered a poor sales growth of -0.28% over past five years.
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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
300 832 1,234 775 252 950 1,346 854 459 1,228 1,382 918
316 602 993 692 345 749 1,040 694 400 902 1,084 812
Operating Profit -16 230 241 83 -93 202 306 160 58 325 298 106
OPM % -5% 28% 20% 11% -37% 21% 23% 19% 13% 26% 22% 12%
Other Income 6 11 15 16 10 -7 -68 22 -11 14 15 18
Interest 2 2 4 4 0 3 5 4 3 3 2 4
Depreciation 9 9 11 11 12 14 17 15 19 24 14 14
Profit before tax -21 230 241 84 -95 178 216 164 26 313 296 106
Tax % 39% 36% 31% 25% 40% 24% 21% 16% -23% 19% 24% 143%
Net Profit -13 147 167 63 -57 135 170 138 32 252 225 -45
EPS in Rs -3.76 42.87 48.58 18.38 -16.63 39.41 49.46 30.68 7.01 56.01 49.98 -10.04

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
1,361 1,591 2,097 2,233 2,682 3,188 3,660 2,769 2,803 2,710 3,167 3,609 3,986
1,276 1,470 1,875 1,980 2,338 2,768 3,144 2,334 2,389 2,300 2,684 2,891 3,199
Operating Profit 85 121 222 254 344 419 516 435 414 410 483 718 787
OPM % 6% 8% 11% 11% 13% 13% 14% 16% 15% 15% 15% 20% 20%
Other Income 103 115 18 -14 1,260 91 88 82 70 39 51 -56 36
Interest 13 13 8 2 4 5 5 10 7 11 10 14 12
Depreciation 24 26 33 34 37 65 25 25 29 33 44 65 71
Profit before tax 151 196 199 204 1,563 441 574 482 448 404 480 583 740
Tax % 37% 35% 34% 32% 26% 34% 33% 35% 35% 26% 30% 19%
Net Profit 94 127 132 139 1,162 290 383 315 291 300 337 474 463
EPS in Rs 23.91 32.22 33.32 35.19 294.11 79.06 104.59 89.13 82.31 87.41 98.18 105.58 102.96
Dividend Payout % 12% 12% 12% 12% 2% 7% 20% 19% 21% 21% 18% 24%
Compounded Sales Growth
10 Years:9%
5 Years:-0%
3 Years:9%
TTM:17%
Compounded Profit Growth
10 Years:16%
5 Years:8%
3 Years:25%
TTM:7%
Stock Price CAGR
10 Years:20%
5 Years:6%
3 Years:6%
1 Year:20%
Return on Equity
10 Years:19%
5 Years:18%
3 Years:19%
Last Year:24%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
40 40 40 40 40 37 37 35 35 34 34 45 45
Reserves 411 520 634 753 1,892 1,706 1,996 1,804 2,021 1,744 2,194 2,528 2,487
Borrowings 43 114 108 0 0 0 0 0 0 0 0 2 0
444 396 778 1,048 484 645 740 597 769 756 1,320 1,262 1,719
Total Liabilities 937 1,070 1,560 1,841 2,415 2,387 2,773 2,437 2,825 2,535 3,549 3,836 4,251
260 292 348 248 219 228 322 290 342 334 440 468 502
CWIP 11 29 6 9 127 217 1 17 24 36 47 56 4
Investments 10 63 4 4 4 4 29 68 50 0 0 41 51
657 686 1,202 1,580 2,066 1,939 2,422 2,062 2,410 2,164 3,062 3,270 3,694
Total Assets 937 1,070 1,560 1,841 2,415 2,387 2,773 2,437 2,825 2,535 3,549 3,836 4,251

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
35 82 122 107 138 282 200 206 157 121 433 666
-45 -79 195 88 427 -290 485 16 -8 38 -113 -29
-48 46 -32 -128 -21 -480 -42 -590 -73 -581 -158 -148
Net Cash Flow -58 50 285 67 544 -488 644 -367 76 -421 162 489

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 37% 38% 29% 34% 29% 24% 31% 25% 23% 22% 25% 30%
Debtor Days 54 45 49 42 44 47 57 53 72 89 81 73
Inventory Turnover 3.36 3.11 3.47 3.10 3.50 3.98 4.35 2.34 2.21 2.06 1.53 1.63

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
68.69 68.69 68.69 68.69 68.69 68.69 71.43 71.43 71.43 71.43 71.43 71.43
4.33 3.89 3.65 3.62 3.49 3.32 2.68 2.17 2.34 2.79 2.60 2.87
14.86 15.29 15.61 15.88 16.20 16.28 12.99 13.86 13.56 12.63 12.47 12.49
12.12 12.12 12.05 11.80 11.62 11.71 12.90 12.53 12.67 13.15 13.50 13.21

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