India's Bayer Cropscience posts 4% rise in Q4 profit

Bayer Cropscience

24/05/2023 16:14

BENGALURU, May 24 (Reuters) - Bayer Cropscience Ltd  BAYE.NS , the Indian unit of German drug
and pesticide maker Bayer AG  BAYGn.DE , 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.
    For further earnings highlights, click  urn:newsml:reuters.com:*:nFWN37L24A
    
    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      BAYE.NS   24.47    17.12   8.90     9.57   Hold            5    0.78     2.42
 Ltd                                                                                            
 PI Industries Ltd      PIIL.NS   33.87    24.37   23.83   20.98   Buy            22    0.89     0.30
 UPL Ltd                UPLL.NS       -     6.06   6.79    19.34   Buy            23    0.74     1.49
 Rallis India Ltd       RALL.NS   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
    

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Bayer CropScience shares vs peers    https://tmsnrt.rs/3oryPTZ
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 (Reporting by Varun Vyas in Bengaluru; Editing by Sohini Goswami and Varun H K)
 ((varunvyas.hebbalalu@thomsonreuters.com;))