The company has said today in a stock exchange filing that “Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform you that the Board of Directors at their meeting held today i.e., November 09, 2022, has, inter alia: Declared an Interim Dividend of Rs. 100/- per equity share of Rs. 10/- each for the Financial Year 2022-23. The said Interim Dividend will be paid electronically through Bank transfer on Thursday, December 08, 2022, to those shareholders whose names appear in the Register of Members of the Company as on the Record date i.e., Saturday, November 19, 2022. In case of shareholders who have not registered their bank mandate with the Company, the physical dividend warrant/cheques will be dispatched to their registered addresses."
In Q2FY23, the company reported net sales of ₹1451.90 crore compared to ₹1667.40 crore Cr in Q1FY23 and ₹1365.10 crore Cr in Q2FY22, representing a QoQ fall of 12.92% but a YoY growth of 6.35%. The company declared a total expense of ₹1236.70 crore in Q2FY23 compared to ₹1299.30 Cr in Q1FY23 and ₹1159.90 Cr in Q2FY22, representing a QoQ fall of 4.81% but a YoY growth of 6.62%. The company reported a profit before tax (PBT) of ₹229 Cr in Q2FY23, compared to ₹382.30 Cr in Q1FY23 and ₹219.50 Cr in Q2FY22, representing a QoQ fall of 40% but a YoY growth of 4.32%. In Q2FY23, the company reported a net profit of ₹162.6 crore compared to ₹302.60 Cr in Q1FY23 and ₹154.1 crore in Q2FY22, representing a QoQ fall of 46.26% but a YoY growth of 5.51%. The EPS stood at ₹36.18 per share in Q2FY23 compared to ₹67.33 in Q1FY23 and ₹34.29 in Q2FY22.
The company has said in its financial statement that it concluded the sale of a part of its seeds distribution portfolio comprising of mustard, millet, cotton and sorghum seeds in Q3 of FY 2021-22.
Commenting on the quarterly and half-yearly results, Simon-Thorsten Wiebusch, Executive Director BCSL said, “Our continuing revenue growth in Q2 was driven largely by strong demand and product liquidation of our crop protection portfolio despite continuing supply chain challenges and a tough hybrid rice season. Supportive commodity prices led to better acreages and strong sales of Corn seeds. A near normal monsoon in most parts of the country except for the states of Uttar Pradesh, Bihar and West Bengal also aided positive demand momentum. Our efforts of reaching larger segments of smallholder farmers through alternate go-to-market initiatives such as Sahbhaagi and Better Life Farming Centers are also steadily gaining ground."
Simon Britsch, Chief Financial Officer, BCSL said, “We have maintained our growth momentum in H1. We continue to invest in our business growth opportunities and focus on sustaining margins despite continuing challenges associated with global supplies and rising costs. The Board of Directors has also approved an interim dividend payment of ₹100/- per equity share for 44,942,092 of ₹10/- each for the financial year ending March 31, 2023. The record date for the purpose of determining the entitlement for payment of the interim dividend is fixed as November 19, 2022. Due to the recent Gazette Notification on the application of Glyphosate, Management sees a potential impact in the short term on the sale of Glyphosate and is working with all stakeholders to understand the implications and to best serve the critical weed management needs of farmers."
The shares of Bayer CropScience Ltd closed today at ₹4,755.00 apiece, up by 1.74% from the previous close of ₹4,673.50. In trade today the stock recorded a total volume of 10,421 shares compared to the 20-Day average volume of 16,070 shares. On a YTD basis, the stock has fallen 4.12% so far in 2022.
