Mumbai, India
May 27, 2019
- Revenue from Operations of Rs. 26,857 million
- Profit for the year of Rs. 2,376 million
Bayer CropScience Limited (BSE: 506285) announced its audited results for the financial year (FY) and quarter ending March 31, 2019. In FY 2018-19, the Company registered Revenue from Operations of Rs. 26,857 million, compared to Rs. 27,490 million in the previous year. Profit for the year stood at Rs. 2,376 million, compared to Rs. 3,001 million in the previous year.
In Q4 of FY 2018-19, the Company registered Revenue from Operations of Rs. 1,288 million and Loss for the quarter of Rs. 798 million. Commenting on the quarterly results, D. Narain, Vice Chairman & Managing Director and CEO of Bayer CropScience Limited, stated, “Adverse weather and drought led to a weaker than expected Rabi season. This affected our fourth quarter performance and we shifted our focus on receivables collection and channel inventory reduction. While overall crop economics remain stressed in the near-term, we are convinced about the long-term potential of the market. We will continue to contribute towards sustainable agriculture and prosperity for Indian farmers through product innovation, digitalization and partnerships.”
Sharing the future outlook for Bayer CropScience Limited, D. Narain, said, “Based on the anticipated completion of the merger in India, we envisage new market opportunities and operational synergies from the integration with Monsanto. In the short to medium term, our robust lineup of new products in crop protection and hybrid seeds will help us expand our farmer reach to new crop segments. We also plan new launches in Environmental Science to boost the Indian public health market. Besides new products, Bayer CropScience Limited will accelerate business growth through new business models that will offer tailored agronomic solutions to farmers.”
The Board of Directors have recommended a dividend payment of Rs. 18/- per equity share of Rs.10 each for the financial year ended March 31, 2019, subject to the shareholders’ approval.
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