Jun. 10, 2022
Bayer CropScience Limited (BSE: 506285) has announced its results for the financial year (FY) and quarter ended March 31, 2022. In FY 2021-22, the Company registered Revenue from Operations of ₹47,344 million, compared to ₹42,613 million in the previous year, registering an overall revenue growth of 11%. Profit Before Exceptional Items & Tax stood at ₹7,883 million, compared to ₹7,894 million in the previous year. Profit after Exceptional Items & Tax increased by 31% from ₹4,931 million to ₹6,453 million.
In Q4 of FY 2021-22, the Company registered Revenue from Operations of ₹9,633 million, compared to ₹7,337 million in the corresponding quarter of the previous year, delivering a strong growth of 31%. Profit Before Exceptional Items & Tax for the quarter stood at ₹1,895 million, compared to ₹735 million in the corresponding quarter of the previous year.
Commenting on the quarterly results, Simon-Thorsten Wiebusch, Executive Director, Bayer CropScience Limited said, “New product launches such as Vayego and Dekalb 9208 and overall strong crop sentiments were key drivers for our sales growth in Q4. This has been achieved overcoming some supply constraints faced during the quarter and partially offsetting inflationary pressure with price increases.”
Speaking on the FY results, Simon Britsch, Chief Financial Officer, Bayer CropScience Limited said, “Effective demand generation, scaling up of alternate business models and new product launches, enabled us to post strong growth of 11% in Revenue from Operations. Our operating costs increases were driven by our continuing investments into strategic initiatives to expand Bayer’s farmer reach of our portfolio and normalization of business activities as travel restrictions eased. During the year, the Company had an exceptional income of ₹585 million arising from the sale of part of the seed distribution business viz. mustard, cotton, millet and sorghum seeds. The Board of Directors has recommended a final dividend payment of ₹25/- per equity share of ₹10/- each for the financial year ended March 31, 2022, subject to shareholders’ approval.”
Sharing an outlook for the future, D. Narain, MD & CEO, Bayer CropScience Limited, said, “We continue to focus our efforts to bring innovations across the entire agricultural value chain to drive business growth. To this effect, we have rolled out multiple initiatives some of which have already started showing growth potential.”