Bayer CropScience stock declines 6% on Friday post Q4; Check details here

Bayer CropScience stock slips: Bayer Cropscience stocks fell as much as 5.61 per cent to hit an intraday low of Rs 5,265.25 per share on Friday. 

The fall came after Bayer CropScience announced a weak set of Q4 results.  The chemical manufacturing company’s profit fell 39.4 per cent to Rs 96 crore in the March quarter of financial year 2024, from Rs 159 crore in the same quarter a year ago.

Bayer CropScience’s revenue slipped 19.5 per cent on a year-on-year (Y-o-Y) basis to Rs 792 crore as opposed to Rs 983 crore in the same quarter a year ago.

At the operating front, earnings before interest, taxes, depreciation and amortisation (Ebitda), also known as operating profit, plunged over 53 per cent to Rs 97 crore in Q4FY24, from Rs 206 crore in Q4FY23.

Ebitda margin, meanwhile, squeezed 880 basis points to 12.2 per cent in Q4FY24, from 21 per cent in Q4FY23.

The Board of Directors have recommended a final dividend of Rs 35 per share, subject to the approval of the shareholders at the forthcoming Annual General Meeting of the company.

Simon Wiebusch, vice chairman/managing director and CEO of Bayer CropScience Limited said, "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. Prudent spending kept operational expenses flat. We remain positive on the overall agricultural landscape in India and reconfirm our commitment to sustainable growth which entails dealing with the cyclical nature of our business proactively."

The market valuation of Bayer CropScience is Rs 23,688.98 crore, according to Bombay Stock Exchange. The 52-week high of the Bayer CropScience stock is Rs 6,202 while its 52-week low is Rs 4,100 apiece. 

At 12:01 PM, Bayer CropScience stocks were trading 5.23 per cent lower at Rs 5,286.60 per share. By comparison, S&P BSE Sensex was trading marginally higher at 75,430.45 levels.