Bayer CropScience Limited reports Annual Results for FY 2018-19
- Revenue from Operations of Rs. 26,857 million
- Profit for the year of Rs. 2,376 million
Mumbai, May 27, 2019: 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.
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 benefit people by supporting efforts to overcome the major challenges presented by a growing and aging global population. At the same time, the Group aims to increase its earning power and create value through innovation and growth. Bayer is committed to the principles of sustainable development, and the Bayer brand stands for trust, reliability and quality throughout the world. In fiscal 2018, the Group employed around 117,000 people and had sales of 39.6 billion euros. Capital expenditures amounted to 2.6 billion euros, R&D expenses to 5.2 billion euros. For more information, go to www.bayer.com.
Communications, Bayer Group in India
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.