Bayer Cropscience Limited (BAYERCROP)
Large CapChemicals stocks · Large cap · NSE
Bayer CropScience Limited operates in the Agri Care segment, providing innovative products and solutions in crop protection, corn, and rice. It aims to support farmers and address challenges presented by a growing and aging global population through its life science focus.
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 argues for patience, and recent execution is mixed.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
medium confidence · 3/4 claims checked
Timing lens: price trend and sector relative strength.
Rolling lens: recent quarterly delivery, not the latest single-result score.
Quarter ended 30 Jun 2026
Average · 30/100Rev -4% YoY · PAT +15% YoY · margin expansion · +67% QoQ · operating leverage
| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹1,835 Cr | -4.2% | +66.7% |
| EBITDA | ₹368 Cr | +5.7% | +81.3% |
| Operating margin | 20.0% | +200 bps | +200 bps |
| PAT | ₹322 Cr | +15.4% | +98.8% |
| PAT margin | 17.6% | +298 bps | +284 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Where growth can come from, and what can break the case
H1 FY2025-26 revenue grew 3% YoY to ₹34,680 mio, with EPS up 10% to ₹96. Q2 performance was impacted by persistent rainfall and commodity price pressures, despite robust corn sales.
H1 FY2025-26 showed modest revenue growth and improved profitability, but Q2 faced significant weather-related disruptions and weak commodity prices. Management's 5-year strategic framework, focusing on innovation and market expansion, is crucial for navigating these headwinds and unlocking future growth.
Revenue 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 and advanced technologies, with 2X market demand by 2030.
Rice DSR Scaling
Scale Direct Seeded Rice (DSR) and strengthen brand equity for sustained impact, targeting EBIT growth through innovation.
Digital Transformation & GTM
Empower stakeholders with cutting-edge tools and deploy agile, tailored Go-To-Market models to maximize market reach and efficiency.
Favorable Macro-economic Environment
India is at a strong growth trajectory with 6.6% GDP growth (IMF); Agri & allied sectors ~15% of GDP.
Government Initiatives
PM Dhan-Dhaanya Krishi Yojana, Pulses Mission, MSP increase (~7% YoY Kharif 2025-26), GST cut on farm equipment, ethanol push.
Corn Demand Growth
Corn demand forecast to reach 70 MMT by 2030, driven by expanding feed, biofuel, and industrial use.
Extreme Weather Impact
Monsoon 2025 saw 8% excess rain across country; adverse weather hit grape/cotton crops; Q2 impacted by persistent rainfall.
Commodity Price Pressures
Key crop prices below benchmarks; soybean, moong, and groundnut prices below MSPs.
Competitive & Regulatory Environment
Pressure from generic companies and increasing hurdles for innovation in the agrochemical industry.
Weather Volatility
India’s monsoon is becoming more extreme, leading to crop damage and missed/lower sprays.
Commodity Price Fluctuations
Weak procurement and market pressures can keep key crop prices below benchmarks, affecting farmer sentiment.
Competition and Innovation Hurdles
Pressure from generic companies and increasing hurdles for innovation pose challenges to market share and profitability.
Management accountability
What management said, and what results must prove
Management accountability
What management said, and what results must prove
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 company operates in a seasonal agricultural business, and the presentation provides explicit year-on-year comparisons for Q1, Q2, and H1 results, making YoY the most relevant basis for performance assessment.
Revenue from Operations
H1 FY2025-26: ₹34,680 mio, +3% YoY. Q2 FY2025-26: ₹15,534 mio, -11% YoY.
Profit After Tax to Revenue
H1 FY2025-26: 12.4%, +85 bps YoY. Q2 FY2025-26: 9.8%, +199 bps YoY.
Earnings per Share (EPS)
H1 FY2025-26: ₹96, +10% YoY. Q2 FY2025-26: ₹34, +12% YoY.
New Product Launches
Launched BICOTA, ETCIO STAR, CAMALUS, FELUJIT, SPINTOR, MATENO MORE, COUNCIL PRIME for crop protection.
5-year Strategic Framework
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 GTM models.
Operational Excellence
Pricing & COGS discipline, ecosystem partnerships, and investment for accelerated growth in new geographies.
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Monsoon Season Anomaly | 8% excess rain across country in Monsoon 2025. | Continued extreme weather patterns and their impact on crop acreages and product liquidation. |
| Key Crop Prices | Soybean, moong, and groundnut prices below MSPs. | Recovery in commodity prices and government procurement efforts to support farmer income. |
| New Product Adoption | Multiple new crop protection products launched. | Market acceptance and revenue contribution from recently launched innovative solutions. |
| Direct Seeded Rice (DSR) Adoption | >114K acres and ~16K farmers under DSR. | Expansion of DSR acres and farmer base, indicating progress in sustainable solutions and market penetration. |
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"
Outcome check: OPM moved from 13.0% to average 14.5% (+1.5 pp).
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"
Outcome check: OPM moved from 13.0% to average 14.5% (+1.5 pp).
Bayer CropScience Limited (India) aims to grow its top line, aligning with the global Crop Science division's objectives.
"India cannot lag behind"
Outcome check: Revenue YoY averaged 4.9% across 2 later quarter(s).
Trend score and candlestick chart
34Bearishfull bear SMA stack · SMA20 -4.1% / mo · MACD − · near 52W low
Technical chart
BAYERCROPdaily · 1Y · AUTO-11.6%Daily technical trend read
Bearish setupTrend is weak — long-term trend down. RSI 37.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~4.3% over last month) — short-term momentum negative.
- RSI(14) at 37 — sideways, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- 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.
Relative Strength & Trend Stage
- Price is 9.8% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -1.1%.
- Both 3-month and 6-month returns are negative.
Valuation & score drivers
U-Score 26 · OVERVALUED · pillar breakdown, sector model, fair-value anchor
Valuation & score drivers
U-Score 26 · OVERVALUED · pillar breakdown, sector model, fair-value anchor
Fundamental score breakdown
OVERVALUEDWhy this score?
Top U-Score contributors and drags from the latest stored fundamentals.
Positive drivers
- Balance sheet contributes 10/15 to the score.
- Quality contributes 11/20 to the score.
- Cash flow contributes 1/10 to the score.
Main drags
- Fair-value margin of safety is negative at -5812.3%.
- 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: +0 points.
Factor attribution
Modelled fair value
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Mixed Trust: Management has 100% delivered/partly-delivered outcomes on 3 checked claims. It ranks around the 49th percentile of the scored universe and 30th percentile within Chemicals. Main check: cash conversion is weak at 53/100.
Healthy Trust: 3/4 extracted management claims have outcome checks; 67% were fully delivered and 1 were partially delivered.
Usable, but needs evidence. Treat guidance with a margin of safety.
overall median 67 · Chemicals: 30th pctile, median 73 · Large: 26th pctile, median 73
3/4 claims checked. Use as directional, not final.
3/4 claims checked · No contradicted claim yet
How to read this Trust Score
Mixed Trust · medium 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 18.1%.
- ▸2 older quarters in the 8-quarter window had PAT decline worse than 25% YoY.
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Fundamentals
Valuation
- P/E
- 364.00
- P/B
- 47.22
- EV/EBITDA
- 311.09
- Market Cap
- 17931.00Cr
Profitability
- ROE
- 15.80%
- ROCE
- 20.10%
- ROA
- 6.02%
- Dividend Y
- 3.76%
Growth (CAGR)
- Revenue 5Y
- -6.00%
- EPS 5Y
- -6.00%
- Revenue 3Y
- -9.00%
- EPS 3Y
- -9.00%
Balance Sheet
- Debt/Equity
- 0.34
- Interest Coverage
- 3.89×
- Altman Z
- 7.50
- Book Value
- 84.50
Cash Flow
- FCF Yield
- 0.12%
- FCF Positive Y
- 1/5
- OCF
- 38.00 Cr
- EPS TTM
- 14.03
Shareholding
- Promoter Hold
- 71.44%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 4%
Financial History
Updated 5/9/2026
Revenue
₹ CrNet Profit
₹ CrReturn on Equity
%Peers
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Peers
Business-comparable names in Chemicals, ranked by similarity
Peers
Business-comparable peers in Chemicals — 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.