BAYERCROP · Chemicals
Bayer Cropscience Ltd. reported revenue of ₹1,915 cr for April to June 2025, +17.4% on the year and +83.1% on the quarter. It is the highest quarterly revenue in the last 9 quarters on record. Over the last four quarters revenue comes to ₹5,756 cr, +15.2% on the four before.
Operating profit (EBITDA) was ₹348 cr, a margin of 18.2%, −108 bps on the year and +182 bps on the quarter. Over the last 8 quarters the margin has ranged from 1.9% to 19.3%, averaging 13.8%. Operating costs grew +19.0%, faster than revenue at +17.4%, so operating profit grew less than sales.
Net profit was ₹279 cr, +9.8% on the year and +95.1% on the quarter, with earnings per share of ₹62.01. Profit before other income, one-offs and tax grew 9.3%, so the profit growth came from the business itself. The tax rate of 17% is in line with its recent average. Profit over the last four quarters totals ₹592 cr, −11.1% on the four before.
Speciality chemicals are read on volumes and pricing, with Chinese supply a recurring swing factor; inventory destocking can hit a quarter without a change in demand. The quarterly statements do not carry volumes against prices, capacity utilisation and new molecules; those come with the filing read.
On earnings per share of ₹131.84 over the last four quarters, the stock at ₹3,639.90 trades at 27.6 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹1,617 cr | ₹955 cr | ₹792 cr | ₹1,631 cr | ₹1,738 cr | ₹1,057 cr | ₹1,046 cr | ₹1,915 cr | ₹1,553 cr | ₹1,106 cr | ₹1,101 cr | ₹1,835 cr |
| YoY | — | — | — | −6% | +7% | +11% | +32% | +17% | −11% | +5% | +5% | −4% |
| EBITDA margin | 18.9% | 13.4% | 12.2% | 19.3% | 10.6% | 1.9% | 16.3% | 18.2% | 13.2% | 10.6% | 18.4% | 20.1% |
| Other income, % of PBT | 5% | 12% | 28% | 9% | 13% | 94% | 22% | 6% | 7% | 14% | 23% | 22% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 27% | 25% | 9% | 20% | 28% | −2% | 15% | 17% | 24% | 15% | 21% | 20% |
| Net profit | ₹223 cr | ₹93.0 cr | ₹96.0 cr | ₹254 cr | ₹136 cr | ₹34.0 cr | ₹143 cr | ₹279 cr | ₹153 cr | ₹96.0 cr | ₹162 cr | ₹322 cr |
| YoY | — | — | — | −23% | −39% | −63% | +49% | +10% | +13% | +182% | +13% | +15% |
| Core profit YoY | — | — | — | −25% | −43% | −98% | +72% | +9% | +12% | +4,750% | +21% | −1% |
| EPS | ₹49.60 | ₹20.72 | ₹21.36 | ₹56.56 | ₹30.33 | ₹7.61 | ₹31.89 | ₹62.01 | ₹33.98 | ₹21.29 | ₹36.07 | ₹71.56 |
| Flags | · | · | 1 | 1 | 1 | 3 | ✓ | ✓ | ✓ | ✓ | ✓ | 1 |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Bayer Cropscience Ltd. reported revenue of ₹1,915 cr (+17.4% on the year) and net profit of ₹279 cr (+9.8% on the year) for April to June 2025.
Profit before other income, exceptional items and tax moved +9.3% on the year, against +9.8% for reported profit.
None of the 7 checks that could run raised a question.
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Numbers as filed with the exchanges, read by rules. Every flag is a question with its source, not an accusation. FinMinutes is a financial data and analytics platform; nothing here is a recommendation to buy, sell or hold any security. How each check works.