BAYERCROP
Large CapBayer Cropscience Limited
Industrials
Bayer is a life science company and a global leader in health care and nutrition. Its innovative products support efforts to overcome major challenges presented by a growing and aging global population. Bayer CropScience Limited operates in the Agri Care segment in India.
One read, four checks
75+ is strong, 60-74 is usable, 45-59 is mixed, and below 45 needs caution. These are research lenses, not buy/sell instructions.
Weak fundamentals, management trust is acceptable, price trend is neutral, and recent execution is mixed.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
low confidence · 0/4 claims checked
Timing lens: price trend and sector relative strength.
Rolling lens: recent quarterly delivery, not the latest single-result score.
Quarter ended 31 Mar 2026
Average · 50/100Rev +5% YoY · PAT +13% YoY · margin expansion · operating leverage
| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹1,101 Cr | +5.3% | -0.5% |
| EBITDA | ₹203 Cr | +18.7% | +73.5% |
| Operating margin | 18.0% | +200 bps | +700 bps |
| PAT | ₹162 Cr | +13.3% | +68.8% |
| PAT margin | 14.7% | +104 bps | +603 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Where growth can come from, and what can break the case
H1 FY2025-26 revenue grew 3% YoY to 34,680 mio, with PAT to Revenue at 12.4% (+85 bps). PBT rose 6% YoY to 5,355 mio, and EPS increased 10% YoY to 96. Q2 revenue declined 11% YoY due to persistent rainfall impacting sprays and liquidation.
H1 FY2025-26 results show modest revenue growth and improved profitability, but Q2 was significantly impacted by adverse weather, leading to lower sprays and liquidation challenges. Resilient corn performance and strategic initiatives aim to mitigate these impacts, but execution against weather volatility remains key.
Revenue from Operations by Product Category (FY2024-25)
Latest issuer-disclosed distribution across 3 reported categories.
Crop Protection Innovation
Accelerate innovation and deliver differentiated product launches, expanding market footprint through record product launches.
Corn Market Leadership
Drive market leadership through growth initiatives, advanced technologies, and investment for accelerated growth in new geographies.
Rice DSR Scaling
Scale Direct Seeded Rice (DSR) and strengthen brand equity for sustained impact, targeting EBIT growth through innovation.
Digital Transformation
Empower stakeholders with cutting-edge tools, actionable data, and seamless phygital integration.
Strong Macro-economic Growth
India's 6.6% GDP growth (IMF); Agri & allied sectors ~15% of GDP.
Government Support for Agriculture
PM Dhan-Dhaanya Krishi Yojana, Pulses Mission, ~7% YoY MSP increase (Kharif 2025-26), GST cut on farm equipment.
Ethanol Push
Driving biofuel momentum.
Growing Corn Demand
Demand forecast 70 MMT by 2030, 90 MMT by 2047, driven by feed, biofuel, and industrial use.
Extreme Monsoon Impact
8% excess rain across country, becoming more extreme; adverse weather hit grape and cotton crops.
Q2 Weather Impact
Persistent rainfall across key geographies led to missed/lower sprays, impacting liquidation.
Commodity Price Pressures
Key crop prices below benchmarks; weak procurement and market pressures.
Industry Competition & Innovation Hurdles
Pressure from generic companies and increasing hurdles for innovation in a challenging market environment.
Weather Dependency
Extreme and persistent rainfall can significantly impact crop acreage, product liquidation, and farmer sentiment.
Commodity Price Volatility
Key crop prices below MSPs can affect farmer profitability and demand for agri-inputs.
Competitive Landscape
Increasing pressure from generic companies and hurdles for innovation in the agrochemical industry.
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
The agricultural business is seasonal, making year-over-year comparisons more relevant to assess underlying performance trends despite quarterly fluctuations influenced by monsoon and weather.
Revenue from Operations (H1 FY2025-26)
34,680 mio, +3% YoY
Profit After Tax to Revenue (H1 FY2025-26)
12.4%, +85 bps YoY
Profit Before Tax (H1 FY2025-26)
5,355 mio, +6% YoY
Earnings per Share (H1 FY2025-26)
96, +10% YoY
Global CS 5-year Framework
In place to strengthen financial profile, enhance resilience, and unlock full growth potential.
Strategic Pillars
Focus on Crop Protection innovation, Corn market leadership, Rice DSR scaling, Digital Transformation, and agile Go-To-Market models.
Go-To-Market (GTM) Framework
Focus on increasing RWDS (Reach, Width, Depth & Market Share) footprint, integrating FPOs & BLFs, and leveraging e-commerce.
Better Life Farming
Expand reach, integrate FPOs & BLFs via Hub-and-Spoke, strengthen partner linkages, and drive farmer impact.
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Revenue from Operations growth | H1 FY2025-26: +3% YoY; Q2 FY2025-26: -11% YoY | Recovery in revenue growth, especially in Q3/Q4, indicating mitigation of weather impacts and effectiveness of GTM strategies. |
| Profit After Tax to Revenue | H1 FY2025-26: 12.4% (+85 bps YoY) | Sustained improvement in profitability margins, reflecting portfolio prioritization and operational excellence. |
| Corn Acreage & Demand | Kharif acreage surpasses 2024; demand forecast 70 MMT by 2030. | Continued growth in corn acreage and progress towards demand forecasts, supported by ecosystem partnerships and new geographies. |
| Direct Seeded Rice (DSR) Adoption | >114K Acres, ~16K Farmers | Acceleration in DSR transition and expansion of DSR acres/farmers, indicating successful scaling of sustainable solutions. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Show extracted source claims
Bayer CropScience Limited (India) aims to over proportionally expand its cash delivery, aligning with the global Crop Science division's objectives.
"India cannot lag behind"
Bayer CropScience Limited (India) aims to over proportionally expand its margins, aligning with the global Crop Science division's objectives.
"India cannot lag behind"
The company expects an improvement in bottom line performance with the new CFO, Vinit Jindal, on board.
"impact on bottom line performance with him coming to terms"
Bayer CropScience Limited (India) aims to grow its top line, aligning with the global Crop Science division's objectives.
"India cannot lag behind"
Trend score and candlestick chart
47NeutralSMA20 -1.9% / mo · near 52W low
Technical chart
BAYERCROPdaily · 6M-2.9%Technical trend read
Bearish setupTrend is weak — long-term trend unclear. RSI 35.
- SMA20 falling (~7.1% over last month) — short-term momentum negative.
- RSI(14) at 35 — falling, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- Within 5% of 52-week low — testing support.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Valuation, score drivers, trust methodology, financials, and peers
Use these sections after reviewing the decision summary, latest result, thesis, management accountability, and technical timing above.
Fundamental score breakdown
OVERVALUEDWhy this score?
Top U-Score contributors and drags from the latest stored fundamentals.
Positive drivers
- Balance sheet contributes 9/15 to the score.
- Quality contributes 10/20 to the score.
- Cash flow contributes 1/10 to the score.
Main drags
- Fair-value margin of safety is negative at -5168.2%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
- Growth is weaker at 0/25; verify the latest quarterly trend.
Cyclical valuation: normalized earnings, not just trailing PE
Cyclical companies can look cheapest near peak profits, so IndiaPulse flags value-trap risk separately.
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Score history
12 stored score snapshots. Latest stored move: -2 points.
Factor attribution
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Healthy Trust: Claim history is still being built. It ranks around the 70th percentile of the scored universe and 68th percentile within Industrials. Main check: cash conversion is weak at 53/100.
Healthy Trust Lite: Promoter holding is 71.4%. Key concern: Only 1 years of positive FCF.
Generally investable credibility. Look for weak sub-scores before increasing position size.
overall median 67 · Industrials: 68th pctile, median 68 · Large: 47th pctile, median 74
47 documents indexed, but claim history is not strong enough yet.
4 claims extracted · No contradicted claim yet
How to read this Trust Score
Healthy Trust · low confidenceRead Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Trust positives
- ▸Promoter holding is 71.4%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 0.1%.
- ▸ROCE is 20.1%.
Trust risks
- ▸Only 1 years of positive FCF.
- ▸OPM spread across recent quarters is 17%.
- ▸2 older quarters in the 8-quarter window had PAT decline worse than 25% YoY.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Intrinsic value
Fundamentals
Valuation
- P/E
- 391.00
- P/B
- 50.71
- EV/EBITDA
- 333.95
- Market Cap
- 19257.00Cr
Profitability
- ROE
- 15.80%
- ROCE
- 20.10%
- ROA
- 6.02%
- Dividend Y
- 2.92%
Growth (CAGR)
- Revenue 5Y
- -4.00%
- EPS 5Y
- -4.00%
- Revenue 3Y
- -4.00%
- EPS 3Y
- -4.00%
Balance Sheet
- Debt/Equity
- 0.34
- Interest Coverage
- 3.89×
- Altman Z
- 7.50
- Book Value
- 84.50
Cash Flow
- FCF Yield
- 0.11%
- FCF Positive Y
- 1/5
- OCF
- 38.00 Cr
- EPS TTM
- 14.03
Shareholding
- Promoter Hold
- 71.44%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 1%
Financial History
Updated 9/6/2026
Revenue
₹ CrNet Profit
₹ CrReturn on Equity
%Peers
Business-comparable peers in Industrials — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.