BENGALURU (Reuters) – Bayer Cropscience Ltd, the Indian unit of German drug and pesticide maker Bayer AG, on Wednesday reported a near-4% rise in fourth-quarter profit, as its crop protection sales and corn seeds business offset a correction in glyphosate prices.
The company’s net profit rose to 1.59 billion rupees from 1.53 billion rupees a year earlier.
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WHY IT MATTERS
Prices of glyphosate, one of the company’s key products, have declined from a year earlier when it benefitted the company’s topline in tandem with buyers rushing to purchase early amid supply chain uncertainties and price hikes.
“The steady performance of our crop protection and corn seeds portfolio helped us deliver a 9% growth in revenue from operations for the financial year,” Bayer Chief Financial Officer Simon Britsch said in a statement.
PEER COMPARISON
Valuation Estimates (next Analysts’ sentiment
(next 12 12 months)
months)
RIC PE EV/EBIT Revenue Profit Mean # of Stock to Div
DA growth growth rating* analysts price yield
target** (%)
Bayer Cropscience 24.47 17.12 8.90 9.57 Hold 5 0.78 2.42
Ltd
PI Industries Ltd 33.87 24.37 23.83 20.98 Buy 22 0.89 0.30
UPL Ltd – 6.06 6.79 19.34 Buy 23 0.74 1.49
Rallis India Ltd 20.00 9.96 9.33 73.86 Hold 14 0.91 1.33
* The mean of analyst ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell
** The ratio of the stock’s last close to analysts’ mean price target; a ratio above 1 means the stock is trading above the PT
JAN-MARCH STOCK PERFORMANCE
(Reporting by Varun Vyas in Bengaluru; Editing by Sohini Goswami and Varun H K)
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