Industry News

Bayer Cropscience Ltd Reports Net Profit for Q4 of 2019-20

Hitul Awasthi
Hitul Awasthi

The Agrochemicals sector forms the backbone of Indian agriculture. The industry keeps on providing farmers with innovative products and crop production technologies. Bayer CropScience Ltd is a multinational company that provides farmers with various agri-inputs. They not only assist in increasing productivity but also help in protecting the national food and nutritional security.

Bayer Group has been present in India since 1896. In June 2018, it announced a complete acquisition of the US-based biotech major Monsanto to create the world’s biggest agrochemical and seed industry. Recently, the company joined hands with Agrostar, an Agri e-commerce firm, for the supply of agri-inputs at the doorsteps of farmers during the COVID-19 pandemic.

The company posted a net loss of Rs 57.1 crore in the January-March quarter of the last fiscal. But reported a net profit of Rs 31.5 crore in the fourth quarter of 2019-20 fiscal year. 

Commenting on the performance, Bayer CropScience, CEO and Managing Director D Narain said a good monsoon in 2019 ensured sufficient water reserves for rabi sowing. The stable commodity prices and favorable climate also helped in achieving the strong growth in Q4, he added. 

On the outlook for the future, Narain, said, "With the ongoing COVID-19 situation, the external business environment remains uncertain in the short term. However, agriculture and food production will continue to be essential for good health and nutrition.” 

The transformational agri-reforms announced by the government will help India become more self-reliant and food secure. It will also enhance the livelihoods and income of millions of smallholder farmers, he added.

Going forward, Narain said, "We will focus on new business models and value chain collaborations to expand the reach of our agri-solutions, support scale-up of Farmer producers organizations (FPOs) and digital farming solutions.”

The company said its board has recommended a dividend of Rs 25 per equity share for the financial year ended March 31, 2020, subject to shareholders' approval. 

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