(Reuters) – Agricultural chemicals maker Bayer CropScience posted a 63.3% drop in third-quarter profit on Tuesday, as costs rose sharply.
The Indian unit of German drugs and pesticides maker Bayer AG posted a consolidated profit of 342 million rupees ($3.9 million) for the three months ended December 31, compared with 931 million rupees a year earlier.
Revenue from operations grew 10.7% to 10.57 billion rupees, while total expenses rose 24.9% to 10.56 billion rupees.
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KEY CONTEXT
Demand growth in the quarter stayed weak due to low pest infestations, favorable weather, and delayed seasonal trends, impacting sales.
Analysts believe India’s agrochemical sector is set to recover in 2025 after a tough period of destocking, though some firms still face challenges.
PEER COMPARISON
Valuation (next Estimates (next 12 Analysts’ sentiment
12 months) months)
RIC PE EV/EBITDA Revenue Profit Mean No. of Stock to Div
growth (%) growth (%) rating* analyst price yield
s target** (%)
Bayer Cropscience 26.94 19.52 10.03 26.70 Hold 6 0.82 2.57
Coromandel 25.78 16.87 5.05 15.19 Buy 9 0.90 0.41
International
UPL 18.91 8.70 8.50 198.05 Buy 21 0.95 0.15
Rallis India 22.90 11.52 10.70 30.76 Sell 13 0.91 1.06
* Mean of analysts’ ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell
** Ratio of the stock’s last close to analysts’ mean price target; a ratio above 1 means the stock is trading above the PT
OCTOBER-DECEMBER STOCK PERFORMANCE
— All data from LSEG
— $1 = 86.6990 rupees
(Reporting by Yagnoseni Das and Anuran Sadhu in Bengaluru; Editing by Sumana Nandy)
