Sells crop protection chemicals and hybrid seeds to Indian farmers. Crop protection (insecticides, herbicides, fungicides) made up 76% of FY26 revenue, hybrid seeds (anchored by corn) contributed 19%, and exports 5%. Corn has emerged as India's third field crop driven by ethanol, feed and silage demand, and the corn seed portfolio has nearly doubled over five years (CAGR 15–16%); management is targeting to double it again. Seven new crop protection products were launched in FY26, including BICOTA, with Camalus, Xivana Smart and the global insecticide Plenexos in the pipeline. Materials — largely imported active ingredients — are the dominant cost line at 55.6% of revenue, prompting a shift to 'India for India' and broader Asia sourcing away from China. H1 FY26 grew only 3% as relentless monsoon extended into the Rabi season and missed spray windows; eastern India go-to-market is being rebuilt around a partner-led Better Life Farming model. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Crop Protection (76%), Hybrid Seeds (19%), Exports (5%). Seasonal, monsoon-dependent agrochemical and hybrid seeds business with a heavy imported-input cost base
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 4,734 | 5,140 | 5,103 | 5,473 | 5,675 |
| EBITDA (ex other income) | 870 | 1,028 | 954 | 690 | 874 |
| margin % | 18.4 | 20.0 | 18.7 | 12.6 | 15.4 |
| Owners' profit | 645 | 758 | 741 | 568 | 689 |
| EPS, as reported (₹) | 143.58 | 168.71 | 164.77 | 126.38 | 153.35 |
| ROE % · ROCE % | 25.6 · 31.9 | 28.0 · 34.9 | 26.0 · 32.0 | 19.9 · 24.0 | 23.2 · 27.9 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 216 | 609 | 952 | 262 | 1,079 |
| Capex | (34) | (44) | (33) | (26) | (40) |
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,631 | 1,738 | 1,057 | 1,046 | 1,915 | 1,553 | 1,106 | 1,101 |
| Profit before tax | 316 | 190 | 34 | 168 | 335 | 200 | 113 | 206 |
| Net profit | 254 | 136 | 34 | 143 | 279 | 153 | 96 | 162 |
| EPS (₹) | 56.56 | 30.33 | 7.61 | 31.88 | 62.01 | 33.98 | 21.29 | 36.07 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| UPL LIMITED | 48,414 | 23.7 | 1.17 | 6.5 | 5.4 | 5.5 | 6.0 | 16.3 |
| PI INDUSTRIES LTD | 34,337 | 29.4 | 3.06 | 16.2 | 11.8 | 14.5 | 8.0 | 25.3 |
| SUMITOMO CHEM INDIA LTD | 23,762 | 41.0 | 7.00 | 29.6 | 16.0 | 20.8 | 4.1 | 28.9 |
| BAYER CROPSCIENCE LTD ◆ | 17,895 | 26.0 | 6.03 | — | 23.2 | 27.3 | — |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · Bayer CropScience Postal Ballot for Independent Director Appointment | management changes | medium | — | — |
| 9 Sept 2026 · Public notice regarding loss of share certificates by shareholder | compliance | minimal | — | — |
| 8 Sept 2026 · Postal ballot for appointment of Independent Director | management changes | medium | — | — |
| 1 Sept 2026 · Bayer CropScience receives Crisil ESG 66 and Core ESG 70 rating | business updates | medium | — | — |
| 26 Aug 2026 · Bayer CropScience to attend Ashwamedh Elara India Dialogue 2026 | board shareholder meetings | low | — | — |
| 19 Aug 2026 · Bayer CropScience 68th AGM: All 5 resolutions passed with over 99% approval | board shareholder meetings | low | — | — |
| 19 Aug 2026 · 68th AGM outcome: Final dividend Rs 60 declared, FY26 total Rs 150 per share | board shareholder meetings | low | — | — |
| 7 Aug 2026 · Bayer CropScience Q1 FY27 PAT up 15% YoY at Rs 321.6 Cr | compliance | minimal | — | — |
| 5 Aug 2026 · Bayer CropScience Q1 FY26-27: revenue dips 4%, PBT up 20% YoY | compliance | low | — | — |
| 5 Aug 2026 · Chairman Pankaj Patel completes term; Ravi Kirpalani appointed new Chairman | management changes | high | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| 22.7 |
| SHARDA CROPCHEM LTD. | 6,910 | 11.0 | 2.20 | 5.7 | 21.7 | 25.2 | 17.1 | 20.5 |
| DHANUKA AGRITECH LTD | 4,359 | 14.9 | 3.11 | 9.7 | 21.2 | 27.0 | 12.7 | 27.4 |
| RALLIS INDIA LTD | 3,833 | 23.9 | 2.26 | 12.9 | 9.7 | 12.5 | — | 0.9 |
| NACL INDUSTRIES LIMITED | 3,709 | 310.4 | 5.43 | 45.4 | 0.7 | 1.4 | 5.9 | 11.3 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 26.0 | 20.1 | 20 of 27 | 27% |
| P/B | 6.0 | 2.4 | 26 of 28 | 7% |
| ROCE | 27.3 | 12.5 | 1 of 29 | 100% |
| ROE | 23.2 | 9.2 | 1 of 28 | 100% |
| Debt / Equity | 0.0 | 0.3 | 1 of 29 | 96% |
| EBITDA margin | 22.7 | 14.8 | 5 of 28 | 85% |
| Revenue growth | 5.2 | (0.8) | 11 of 28 | 63% |
| Profit growth | 13.1 | 18.1 | 16 of 28 | 44% |
| Market cap | 17895 | 1540 | 4 of 29 | 89% |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
