Bayer CropScience Q4 Result 2024: Profit Drops 39%, Misses Estimates

Synopsis

The company posted a net profit of ₹96 crore in the quarter-ended March, in comparison with ₹159 crore in the year-ago period, according to an exchange filing on Thursday.

Result Performance

Bayer Crop Science Ltd.'s consolidated net profit declined 39.4% in the fourth quarter of fiscal 2024, and it missed analysts' estimates. The company posted a net profit of ₹96 crore in the quarter-ended March, in comparison with ₹159 crore in the year-ago period, according to an exchange filing on Thursday. Analysts tracked by Bloomberg had estimated a profit of ₹137.26 crore.

Revenue decreased by 19.5% to ₹792 crore, compared to ₹983 crore in the previous year. Analysts had projected revenue of ₹1,004.14 crore. EBITDA fell by 53.1% to ₹97 crore, down from ₹206 crore in the previous year. Analysts had estimated EBITDA of ₹220.93 crore. EBITDA Margin Contracted to 12.2%, compared to 21% in the previous year. Analysts had anticipated a margin of 22%. Net Profit Reduced by 39.4% to ₹96 crore, down from ₹159 crore in the previous year. Analysts had estimated net profit of ₹137.26 crore.

Management Commentary

Despite weather challenges and lower reservoir levels affecting crop protection volumes, our performance remained resilient. While revenue from operations witnessed a decline owing to Roundup price developments and proactive channel management, our corn seeds business continued its growth trend." said Simon Wiebusch, vice chairman/managing director and CEO at Bayer Crop Science.

About Bayer Crop

Bayer CropScience Ltd manufactures, distributes, and sells crop protection and hybrid seed products to the agriculture industry. The firm sells fungicides, weedicides, hybrid seeds, consumer in-home pest-control products, and other agrochemical products. They diversified into inorganic-chemistry-related fields like hard metals, engineering ceramics, etc, after acquiring Hermann C Starck of Berlin, Germany.

Its geographical segments are India, Germany, Bangladesh, and Others, of which the vast majority of its revenue comes from India. The company is a subsidiary of Bayer AG, with the majority of common shares owned by its parent company and other Bayer AG subsidiaries.

It has own manufacturing site for agrochemical production at Himatnagar and Silvassa, drying and processing station at Hyderabad and breeding stations at Bengaluru and Udaipur.