Advertisement
Singapore markets closed

  • Straits Times Index

    3,410.81
    -29.07 (-0.85%)
     

  • Nikkei

    40,912.37
    -1.28 (-0.00%)
     

  • Hang Seng

    17,799.61
    -228.67 (-1.27%)
     

  • FTSE 100

    8,203.93
    -37.33 (-0.45%)
     

  • Bitcoin USD

    56,647.01
    +2,300.46 (+4.23%)
     

  • CMC Crypto 200

    1,174.65
    -34.04 (-2.82%)
     

  • S&P 500

    5,567.19
    +30.17 (+0.54%)
     

  • Dow

    39,375.87
    +67.87 (+0.17%)
     

  • Nasdaq

    18,352.76
    +164.46 (+0.90%)
     

  • Gold

    2,399.80
    +30.40 (+1.28%)
     

  • Crude Oil

    83.44
    -0.44 (-0.52%)
     

  • 10-Yr Bond

    4.2720
    -0.0830 (-1.91%)
     

  • FTSE Bursa Malaysia

    1,611.02
    -5.73 (-0.35%)
     

  • Jakarta Composite Index

    7,253.37
    +32.48 (+0.45%)
     

  • PSE Index

    6,492.75
    -14.74 (-0.23%)
     

India's Bayer CropScience posts fall in Q3 profit on soft demand

Reuters
·1-min read

BENGALURU (Reuters) - Bayer CropScience, the Indian unit of German drug and pesticide maker Bayer AG, reported a 31% fall in quarterly profit on Thursday, hurt by sluggish demand for its crop-protection products.

The company's profit fell to 931 million rupees ($11.2 million) during the three months ended Dec. 31 from 1.35 billion rupees a year earlier.

Revenue from operations fell 8% to 9.55 billion rupees.

For further results highlights, click

KEY CONTEXT

The results come at a time when agro-chemical companies are grappling with reduced demand for crop-protection products and declining prices of glyphosate, a critical herbicide, amid intense competition from Chinese generic varieties.

ADVERTISEMENT

India also experienced the worst monsoon since 2018, resulting in tepid demand for agro-chemical products.

PEER COMPARISON

Estimates Analysts' sentiment

(next 12

months)

RIC PE EV/EBI Revenue profit Mean # of Stock to Div

TDA growth growth rating* analyst price yield

s target** (%)

Bayer Cropscience 30.85 21.93 9.48 12.79 BUY 7 1.02 2.35

Ltd

PI Industries Ltd 29.99 21.36 16.84 12.98 BUY 21 0.83 0.31

Rallis India Ltd 25.28 13.70 11.15 38.93 HOLD 14 1.15 0.95

UPL Ltd 11.23 7.21 5.40 32.56 BUY 25 0.78 1.87

* The mean of analyst ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell

** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT

STOCK PERFORMANCE

-- All data from LSEG

($1 = 82.9450 Indian rupees)

(Reporting by Nishit Navin and Kashish Tandon in Bengaluru; Editing by Sohini Goswami)