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Bayer CropScience Q2 FY26 Share Price & Earnings Call Analysis

₹3,289.80+0.23% today
Market cap
₹14,785 Cr
P/E
20.19
ROE
23.70%
PEG
38.11
Price to sales
2.65
Debt to equity
0.03
52W high / low
₹4,990 / ₹3,265
Sales growth (5Y)
5.90%
EBITDA margin
15.96%
Net profit margin
12.14%
Promoter holding
71.44%
Sales (last year)
₹5,595 Cr

Bayer CropScience is engaged in Agri Care business which primarily includes manufacture, sale and distribution of insecticides, fungicides, herbicide and various other agrochemical products and corn seeds.[1]

Guidance scorecard · Q2 FY26 call

What Bayer Crop Sci.'s management guided
and where it ranks in Fertilizers & Agrochemicals

#16of 23 in
Fertilizers & Agrochemicals
Revenue0–10%MarginsUp 0–2%CapexPlannedFundraisingWhat management saidOrder bookWhat management said

RevenueQ2 FY26 call

0–10%
  • Aspirational revenue growth target is high single-digit to low double-digit over the next 3-5 years.
  • Growth driven by a strong, strategic focus on Crop Protection (CP) portfolio backed by innovations and doubling of corn seeds portfolio.
  • Expect steady improvement in profitability alongside revenue growth, aiming for around 100 basis points margin improvement over 2-3 years starting from FY 2024-25.
  • Volume growth is important, but margins have limitations, especially in corn due to higher incremental production costs influenced by weather.
  • Pricing power and competitive positioning through new product launches (e.g., BICOTA, Camalus, Xivana Smart) will support growth.

2 more points from Bayer Crop Sci.'s call on revenue

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Full Q2 FY26 analysis

MarginsQ2 FY26 call

Up 0–2%

See what Bayer Crop Sci. said on margins — free account, 30 seconds.

Full Q2 FY26 analysis

CapexQ2 FY26 call

Planned
  • Bayer CropScience is focusing on expanding its corn seeds portfolio, aiming for a continued doubling as part of its 3-5 year strategic framework.
  • Significant new product launches are planned, including major proprietary launch "Plenexos" (insecticide) and other compounds like Xivana Smart targeting fruit and vegetable segments.
  • The company is enhancing backward integration for larger compound manufacturing within India to reduce reliance on imports from high currency countries and improve supply chain resilience.
  • Go-to-market transformation includes shifting focus toward partnerships and digital channels in less profitable areas to improve operational efficiency and margin per head.

2 more points from Bayer Crop Sci.'s call on capex

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Full Q2 FY26 analysis

FundraisingQ2 FY26 call

See what Bayer Crop Sci. said on fundraising — free account, 30 seconds.

Full Q2 FY26 analysis

Order bookQ2 FY26 call

  • Supply chain structure and sourcing strategies.
  • Margin guidance and cost rationalization.
  • Growth outlook and product pipeline.
  • Pricing, operating expenses, and market challenges.
Full Q2 FY26 analysis
Full Fertilizers & Agrochemicals ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Fertilizers & Agrochemicals
on management's own guidance

  1. Dharmaj CropGood growth
    2
  2. Anya Polytech &Good growth
    1
  3. M B Agro Prod.Good growth
    3
See all potential multibaggersWhere does Bayer Crop Sci. rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Fertilizers & Agrochemicals companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
1Anya Polytech &20–40%Up 2%+₹209 Cr25.1
2Dharmaj Crop20–40%Up 0–2%₹882 Cr14.7
3M B Agro Prod.20–40%Flat₹7,668 Cr49.5
420–40%Flat₹6,453 Cr32.8
510–20%Up 2%+₹1,226 Cr18.3
610–20%Flat₹51,882 Cr27.8

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Financials of Bayer Crop Sci.

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of Bayer Crop Sci.

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +9821,7401,6179557921,6311,7381,0571,0461,9151,5531,1061,101
Expenses +7771,3151,3128276951,3171,5541,0378761,5661,348989898
Operating Profit2064253051289731418420171348205117203
OPM %21%24%19%13%12%19%11%2%16%18%13%11%18%
Other Income +24211615292724323719141647
Interest7843543465456
Depreciation27311215162214153427141538
Profit before tax19540630612410531619034168335200113206
Tax %19%19%27%25%9%20%28%-2%15%17%24%15%21%
Net Profit +15832822393962541363414327915396162
EPS in Rs35.2773.0949.6020.7221.3656.5630.337.6131.8962.0133.9821.2936.07

Financials of Bayer Crop Sci.

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +3,6602,7692,8032,7103,1673,6094,2614,7345,1405,1065,4735,675
Expenses +3,1442,3342,3892,3002,6842,8833,4503,9234,2164,1474,7834,801
Operating Profit516435414410483726812812924959691874
OPM %14%16%15%15%15%20%19%17%18%19%13%15%
Other Income +8882703951-64691121687611895
Interest5107111014131322201720
Depreciation252529334465746480748594
Profit before tax574482448404480583794847990941707855
Tax %33%35%35%26%30%19%38%24%23%21%20%19%
Net Profit +383315291300337474493645758740568689
EPS in Rs104.5989.1382.3187.4198.18105.58109.72143.58168.71164.77126.38153.35
Dividend Payout %20%19%21%21%18%24%105%104%77%85%99%39%

Financials of Bayer Crop Sci.

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital373535343445454545454545
Reserves1,9961,8042,0211,7442,2052,5282,5052,4792,6672,8042,8062,921
Borrowings +0000022686744710582
Other Liabilities +7405977697561,3101,2621,6631,7421,8931,7012,2902,652
Total Liabilities2,7732,4372,8252,5353,5493,8364,2394,3534,6794,5975,2465,699
Fixed Assets +322290342334440468425468462414470581
CWIP1172436475676981091191195
Investments2968500041523841543557
Other Assets +2,4222,0622,4102,1643,0623,2703,6863,7494,0664,0104,6225,056
Total Assets2,7732,4372,8252,5353,5493,8364,2394,3534,6794,5975,2465,699

Financials of Bayer Crop Sci.

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +200206157121433666687216609952262
Cash from Investing Activity +48516-838-113-2976483086
Cash from Financing Activity +-42-590-73-581-158-148-556-703-613-656-619
Net Cash Flow644-36776-421162489138-42479296-272
Free Cash Flow29717010880378638656168537912222
CFO/OP76%86%74%53%132%110%105%59%92%113%61%

Financials of Bayer Crop Sci.

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days575372898173657769696372
Inventory Days85169178175294206226235268222319231
Days Payable4052676716410114212712987148134
Cash Conversion Cycle102171184197211177149185208204234169
Working Capital Days539210413411677618486788860
ROCE %31%25%23%22%25%30%31%31%34%34%25%29%

Guidance history

How Bayer Crop Sci.'s guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q2 FY26 call →0–10%Up 0–2%Planned——
Q4 FY23 call →10–20%FlatPlanned——

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

7out of 100

Momentum score · price trend

7 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−33.7%18%
Last 6 months−29.9%8%
Last 3 months−22.7%13%

The price is 52.1% below its all-time high of ₹6,851.5 (2 Aug 2024). Stocks more than 20% below their peak have their score halved, so 13 became 7.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Bayer Crop Sci.: 0.4 × 18 + 0.4 × 8 + 0.2 × 13 = 13, halved to 7 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 28 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Bayer Crop Sci.'s management said in earlier quarters

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