Mumbai, May 24, 2022: Bayer CropScience Limited (BSE: 506285) on Tuesday 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.”
Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. Its products and services are designed to help people and planet thrive by supporting efforts to master the major challenges presented by a growing and aging global population. Bayer is committed to drive sustainable development and generate a positive impact with its businesses. At the same time, the Group aims to increase its earning power and create value through innovation and growth. The Bayer brand stands for trust, reliability and quality throughout the world. In fiscal 2021, the Group employed around 100,000 people and had sales of 44.1 billion euros. R&D expenses before special items amounted to 5.3 billion euros. For more information, go to www.bayer.com.
Communications, Bayer CropScience Limited
This release may contain forward-looking statements based on current assumptions and forecasts made by Bayer management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Bayer’s public reports, which are available on the Bayer website at www.bayer.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.