Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 12 Sep - Pursuant to Regulation 30 and 47 read with Schedule III Part A Para A of SEBI (LODR) Regulations, 2015 we hereby enclose copies of newspaper …
Source: Bse
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.
Data qualityFresh enough for analysisQuote updated 21 Oct, 04:45 am ISTDetails
Quote21 Oct, 04:45 am IST
Base fundamentals14 Oct 2026 · screener
Latest result05 Aug, 11:30 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags15 Aug 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Chemicals P/E 33.1 (n=45)
Technical timing lens
Trend score and candlestick chart
33Bearishfull bear SMA stack · SMA20 -9.6% / mo · MACD + · near 52W low · sector -4.2pp vs Nifty 500 (3M)
Stock trend: 24
Sector RS: 46
Sector 3M: -9.8% vs Nifty 500 -5.6%
Chemicals FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
BAYERCROPD candles · FIT view-24.0%Latest close ₹3548.20 on 2026-10-19
Bar
-2.5%
RSI
39
MACD hist
19.96
52W pos
11%
2026-10-19O ₹3638.40H ₹3638.50L ₹3532.00C ₹3548.20Vol 9,232 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
BAYERCROPNifty ChemicalsNifty 500
- BAYERCROP
- -16.7%
- Nifty 500
- -5.6%
- Nifty Chemicals
- -8.5%
- Vs Nifty 500
- -11.2 pp
Chart stats
19 Oct 2026- From 52W high
- -31.1%
- 52W range position
- 10%
- ATR (14)
- 2.4%
- Volume vs 20D
- 0.23x
- Avg traded value
- ₹13.3 Cr
- 20D price channel
- ₹3,366.3 - ₹3,797.4
₹5,149.9
₹3,366.3 - ₹5,149.9
₹85.9
Latest completed session
20-session average
24.8% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management trust is acceptable, price trend argues for patience, and recent execution is mixed.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · OVERVALUED26
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Average30
Revenue -4.2% · PAT +15.4% YoY
Technical
Bearish33
Price trend and sector-relative-strength timing.
Valuation
Legacy model-5482.8%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Mixed Trust66
medium confidence · 3/4 claims checked
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Average · 30/100Rev -4% YoY · PAT +15% YoY · margin expansion · +67% QoQ · operating leverage
Filed 05 Aug 2026
Open results browser →| 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.
Fundamentals
Valuation
- P/E
- 327.00
- P/B
- 42.32
- EV/EBITDA
- 279.16
- Market Cap
- 16079.00Cr
Profitability
- ROE
- 15.80%
- ROCE
- 20.10%
- ROA
- 6.02%
- Dividend Y
- 4.19%
Growth (CAGR)
- Revenue 5Y
- -7.00%
- EPS 5Y
- -7.00%
- Revenue 3Y
- -12.00%
- EPS 3Y
- -12.00%
Balance Sheet
- Debt/Equity
- 0.34
- Interest Coverage
- 3.89×
- Altman Z
- 7.50
- Book Value
- 84.50
Cash Flow
- FCF Yield
- 0.14%
- FCF Positive Y
- 1/5
- OCF
- 38.00 Cr
- EPS TTM
- 14.03
Shareholding
- Promoter Hold
- 71.44%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 12%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 5,675+3.7% vs prev
Net Profit
₹ CrLatest: 689+21.3% vs prev
Return on Equity
%Latest: 1,531+21.3% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 39. Wait for confirmation.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~10.6% over last month) — short-term momentum negative.
- RSI(14) at 39 — rising, no extreme reading.
- MACD above signal, histogram expanding — bullish momentum building.
- 30% off 52W high · 5% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
11
RS percentile
Stage 4 Downtrend
1M return
-6.1%
3M return
-16.7%
6M return
-25.9%
1Y return
-28.3%
RS 1D
0
RS 20D
0
Sector rank
#13
Industry rank
-
Stage evidence
- Price is 16.4% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -3.0%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
neutral
Industry
unranked
Relative-strength line vs Nifty 500 (base 100)
261 observations
19 Oct 2026Value 74.34-1.48%
RS vs Nifty 50074
Valuation & peers
U-Score 26 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 26 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
OVERVALUED
Fundamental score breakdown
U band · OVERVALUEDValuation0/30
Growth0/25
Quality11/20
Balance Sheet10/15
Cash Flow1/10
Piotroski
5/9 (+3)
Penalties
1
Raw sum
26
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
26/100 · legacy band OVERVALUED
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 -5482.8%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
- Growth is weaker at 0/25; verify the latest quarterly trend.
Sector valuation model
Cyclical valuation: normalized earnings, not just trailing PE
Cyclical companies can look cheapest near peak profits, so IndiaPulse flags value-trap risk separately.
Primary lens
Mid-cycle PE/EV/EBITDA using multi-year average margins or earnings.
Secondary checks
Current margin versus 5-year average, balance sheet strength, commodity cycle.
Main risk check
A low trailing PE may mean peak-cycle earnings, not true cheapness.
PE
327.0
PB
42.3
EV/EBITDA
279.2
ROE
15.8%
ROCE
20.1%
FCF Yield
0.1%
Debt/Equity
0.3
MoS
-5482.8%
Cyclical/value-trap warning
This sector can look cheap when profits are temporarily high. Check mid-cycle margins/earnings before relying on trailing PE.
Score movement
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.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
26
Previous: 26
Legacy U-Score band
OVERVALUED
Previous: OVERVALUED
Margin of safety
-5482.8%
Previous: -5482.8%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
26
26
26
26
26
26
26
26
26
26
26
26
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹163.32
-2072.5% MoS
Growth-justified P/E
4.5
Growth-justified Value
₹63.56
-5482.8% MoS
PEG
—
Comparable companies
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.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
RALLIS
Micro
Rallis India Limited
Agrochemicals
match 157
38
17.5
10.2%
-195%
WATCHLIST
UPL
Mid
UPL Limited
Agrochemicals
match 148
32
22.6
5.6%
-478%
WATCHLIST
BHAGCHEM
Small
Bhagiradha Chemicals & Industries Limited
Agrochemicals
match 143
16
108.0
2.6%
-1678%
OVERVALUED
GSPCROP
Small
GSP Crop Science Limited
Agrochemicals
match 142
46
20.3
16.5%
+1%
FAIR VALUE
HERANBA
Small
Heranba Industries Limited
Agrochemicals
match 142
16
—
-9.7%
—
OVERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-06-12T07:52:44.027Z
Management commentary snapshot
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.
Current business mix
Revenue by Product Category (FY2024-25)
Latest issuer-disclosed distribution across 3 reported categories.
CP Ex RUP66.5%
Corn Seeds16.8%
Others16.7%
Growth engines
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.
Tailwinds
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.
Headwinds
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.
Risk radar
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
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare YOY
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.
Sector KPIs management disclosed
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.
Management forward view
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.
Thesis monitor
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
cash flow improvementnot yet verifiable
Bayer CropScience Limited (India) aims to over proportionally expand its cash delivery, aligning with the global Crop Science division's objectives.
Direction: expansionConfidence: strong
"India cannot lag behind"
margin outlookdelivered
Bayer CropScience Limited (India) aims to over proportionally expand its margins, aligning with the global Crop Science division's objectives.
Direction: expansionConfidence: strong
"India cannot lag behind"
Outcome check: OPM moved from 13.0% to average 14.5% (+1.5 pp).
margin outlookdelivered
The company expects an improvement in bottom line performance with the new CFO, Vinit Jindal, on board.
Timeframe: starting to seeDirection: improvementConfidence: moderate
"impact on bottom line performance with him coming to terms"
Outcome check: OPM moved from 13.0% to average 14.5% (+1.5 pp).
revenue outlookpartially delivered
Bayer CropScience Limited (India) aims to grow its top line, aligning with the global Crop Science division's objectives.
Direction: growthConfidence: strong
"India cannot lag behind"
Outcome check: Revenue YoY averaged 4.9% across 2 later quarter(s).
Trust Score
66Mixed Trust · medium confidenceClaim-tested Trust
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 32nd 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.
Computed 21 Oct 2026
management-trust-v1
10 extracted concalls · 3/4 claims matched
Score band
Mixed Trust
Usable, but needs evidence. Treat guidance with a margin of safety.
Relative rank
49th percentile
overall median 67 · Chemicals: 32nd pctile, median 73 · Large: 26th pctile, median 73
Evidence depth
Early sample
3/4 claims checked. Use as directional, not final.
Claim delivery
100% delivered or partly delivered
3/4 claims checked · No contradicted claim yet
How to read this Trust Score
Mixed Trust · medium confidenceWhat it measures
Reliability of management and financial delivery, using management claims matched with later outcomes.
Confidence
Useful directional evidence exists, but still verify the latest filings.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read 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.
Promoter
86
strong · holding, pledge, alignment
Cash flow
53
watch · profit to cash conversion
Balance sheet
81
strong · leverage and solvency
Discipline
74
acceptable · capital discipline
Results
60
acceptable · quarterly consistency
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.
Continue researching Bayer Cropscience Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 9 Sep - Pursuant to Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 we hereby enclose copies of newspaper advertisement regarding intimation on loss …
Source: Bse
Announcement
Announcement Under Regulation 30 Regarding ESG Rating By Crisil ESG Ratings And Analytics Limited 1 Sep - Crisil assigned Bayer CropScience ESG 66 and Core ESG 70 ratings.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 7 Aug - As per Regulation 47 of SEBI LODR Regulations 2015, please find attached herewith the newspaper advertisement for the unaudited financial results for the quarter ended …
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2026 from bse
Source: Bse
Annual report
Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.