BAYERCROP

Bayer Cropscience share price & financials

Price
₹4,234.1
Market cap
₹17.9k Cr
Sector
Chemicals
Calls analysed
5
Latest concall · Q2 FY26 · call held 25 Nov 2025

Bayer Crop Sci. Q2 FY26

EPS ₹126 −24%

EPS (FY25) ₹126 (−24% YoY). H1 FY26 Revenue grew 3% YoY despite a challenging and erratic monsoon season in Q2.

Read the full call →

What Bayer Cropscience Limited does

Bayer CropScience Limited is the Indian listed subsidiary of Bayer AG's global Crop Science division, developing and selling crop-protection chemicals (fungicides, insecticides, herbicides) and hybrid seeds — chiefly corn under the DEKALB brand — to farmers across India. It operates as a single reportable business segment, "Agri Care," spanning Crop Protection and Corn Seeds, and earns by manufacturing/sourcing branded agri-inputs and distributing them through a network of distributors, retailers, Field Officer Territories and farmer-facing programmes. It also runs farmer-outreach initiatives — Better Life Farming Centres, the FarmRise One digital platform, and the DirectAcres Direct Seeded Rice programme — to build brand loyalty and last-mile market access down to the smallholder level. Its India ForwardFarm in Panipat, Haryana demonstrates regenerative-agriculture practices as part of Bayer's global sustainability network.

Segments

  • Agri Care
Better Life Farming Centres
1,500+ (as of 2025)
Farmers reached via FarmRise One digital platform
100,000+
FPOs/PACS onboarded as retail partners via FarmRise One
200+
New crop-protection products launched (record launch cycle)
7 (Bicota, Etcio Star, Camalus, Felujit, Spintor, Mateno More, Council Prime)
Farmers enrolled in DirectAcres (Direct Seeded Rice) programme
5,000+ farmers across 8,600 hectares (2024)
India ForwardFarm regenerative-agriculture demonstration site
1 flagship site (Panipat, Haryana) — first in India, part of Bayer's global 29-farm network across 14 countries
Founded 1958Headquarters Thane, Maharashtra, India Company website

Guidance record · Q2 FY26

what the last two calls moved 11 tracked 2 delivered 4 missed 5 open
  • COGS Inflation delivered said Q4 FY22 Promised: Continued inflation in COGS Q2 FY26: Management confirmed FY25 was the 'most challenging year' due to a significant increase in input prices, validating the forecast.
  • Glyphosate Volume went quiet said Q1 FY25 Promised: Highest ever volume year in FY25 Q2 FY26: The Q2 FY26 call, which reviewed FY25 performance, did not confirm whether this volume record was achieved.
  • Dividend Payout Strategy on track said Q4 FY22 Promised: Prudent management, prioritizing liquidity Q2 FY26: Maintained interim dividend at Rs. 90 per share, consistent with prior periods.

All 11 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q4 FY26: revenue up 5.3%, net profit up 13.3% against the same quarter last year.

₹ Cr · quarterly
Line itemQ1 FY25Q2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26
Revenue1,631 1,738 1,057 1,046 1,915 +17%1,553 −11%1,106 +5%1,101 +5%
EBITDA314 184 20 171 348 +11%205 +11%117 +485%203 +19%
Net profit254 136 34 143 279 +10%153 +13%96 +182%162 +13%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −22.2% 1Y

₹4.0k₹4.5k₹5.0kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 25 Nov 2025

1Y: ₹5,109.5 on 10 Sept 2025 → ₹3,974.1. High ₹5,347 (19 Sept 2025), low ₹3,951.1 (9 Sept 2026).

How the price took the results

close before → close after

Q2 FY26
+1.6%
25 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 3.4% a year over 3 years, FY23 to FY26. Operating margin narrowed to 15.4%.

Year endingFY23FY24FY25FY26
Revenue₹5.1k Cr₹5.1k Cr₹5.5k Cr₹5.7k Cr
Operating profit₹924 Cr₹955 Cr₹689 Cr₹873 Cr
Operating margin18.0%18.7%12.6%15.4%
Interest₹22 Cr₹20 Cr₹17 Cr₹20 Cr
Depreciation₹79 Cr₹74 Cr₹85 Cr₹94 Cr
Net profit₹758 Cr₹740 Cr₹567 Cr₹690 Cr
Net margin14.7%14.5%10.4%12.2%
Cash from operations₹609 Cr₹952 Cr₹262 Cr₹1.1k Cr
Free cash flow₹537 Cr₹912 Cr₹222 Cr₹1.0k Cr
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹45 Cr₹45 Cr₹45 Cr₹45 Cr₹45 Cr₹45 Cr
Reserves₹2.5k Cr₹2.5k Cr₹2.7k Cr₹2.8k Cr₹3.1k Cr₹2.9k Cr
Borrowings₹26 Cr₹86 Cr₹74 Cr₹47 Cr₹102 Cr₹82 Cr
Other liabilities₹1.7k Cr₹1.7k Cr₹1.9k Cr₹1.7k Cr₹2.0k Cr₹2.7k Cr
Total liabilities₹4.2k Cr₹4.4k Cr₹4.7k Cr₹4.6k Cr₹5.2k Cr₹5.7k Cr
Fixed assets₹425 Cr₹468 Cr₹462 Cr₹414 Cr₹585 Cr₹458 Cr
Capital work in progress₹76 Cr₹98 Cr₹109 Cr₹119 Cr₹9 Cr₹127 Cr
Investments₹52 Cr₹38 Cr₹41 Cr₹54 Cr₹41 Cr₹57 Cr
Other assets₹3.7k Cr₹3.7k Cr₹4.1k Cr₹4.0k Cr₹4.6k Cr₹5.1k Cr
Total assets₹4.2k Cr₹4.4k Cr₹4.7k Cr₹4.6k Cr₹5.2k Cr₹5.7k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, the public trimmed −0.59 pp while FIIs added +0.33 pp. The shareholder count grew 6% to 58,884.

Promoters
71.4%
FIIs
4.0%
DIIs
11.6%
Public
13.0%

Since Jun 2025

  • Public −0.59 pp
  • FIIs +0.33 pp
  • DIIs +0.26 pp

How it drifted, 12 quarters

Over this window DIIs fell from 13.2% to 11.6% — −1.6 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 71.4%, FIIs 3.3%, DIIs 13.2%, Public 12.1%.Dec '23: Promoters 71.4%, FIIs 3.5%, DIIs 12.7%, Public 12.3%.Mar '24: Promoters 71.4%, FIIs 3.6%, DIIs 12.8%, Public 12.2%.Jun '24: Promoters 71.4%, FIIs 3.6%, DIIs 12.5%, Public 12.5%.Sep '24: Promoters 71.4%, FIIs 3.3%, DIIs 12.1%, Public 13.2%.Dec '24: Promoters 71.4%, FIIs 3.4%, DIIs 11.7%, Public 13.4%.Mar '25: Promoters 71.4%, FIIs 3.5%, DIIs 11.6%, Public 13.5%.Jun '25: Promoters 71.4%, FIIs 3.6%, DIIs 11.4%, Public 13.6%.Sep '25: Promoters 71.4%, FIIs 3.8%, DIIs 11.2%, Public 13.6%.Dec '25: Promoters 71.4%, FIIs 3.8%, DIIs 11.5%, Public 13.3%.Mar '26: Promoters 71.4%, FIIs 3.9%, DIIs 11.9%, Public 12.8%.Jun '26: Promoters 71.4%, FIIs 4.0%, DIIs 11.6%, Public 13.0%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 2 holders trimming and 0 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Bayer Cropscience Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Bayer Vapi Private Limited 17.89%unchanged
Bayer Investments India Private Limited 15.04%unchanged
Bayer Sas 14.73%unchanged
Bayer Cropscience Ag 11.91%unchanged
Bayer Ag 8.43%unchanged
Monsanto Company 3.44%unchanged
Quant Mutual Fund - Quant Small Cap Fund Mutual fund2.31%unchanged
DSP Small Cap Fund Mutual fund1.98%newly disclosed
Nippon Life India Trustee Ltd-A/C Nippon India Small Cap Fund Mutual fund1.31%−0.66 pp
Bandhan ELSS Tax Saver Fund Mutual fund1.17%unchanged
Aditya Birla Sun Life Trustee Private Limited A/C - Aditya Birla Sun Life Large Cap Fund Mutual fund1.08%−0.12 pp

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in BAYERCROP

Filings to Aug 2026

0 new, 4 added, 1 trimmed, 0 sold out — net +0.00 L shares (+0.1%).

Held by funds
₹257 Cr
8 schemes
Biggest holder
Nippon India Small Cap Fund
₹225 Cr · 0.3% of that fund
SchemeHoldingLast month
Nippon India Small Cap Fund Nippon India Mutual Fund₹225 Crheld
HDFC Equity Savings Fund HDFC Mutual Fund₹13 Crheld
Nippon India Nifty Smallcap 250 Index Fund Nippon India Mutual Fund₹8 Cr+0.00 L
HDFC Retirement Savings Fund - Hybrid-Equity Plan HDFC Mutual Fund₹6 Crheld
SBI Nifty Smallcap 250 Index Fund SBI Mutual Fund₹4 Cr+0.00 L
Nippon India Nifty 500 Equal Weight Index Fund Nippon India Mutual Fund₹1 Cr+0.00 L
SBI Nifty 500 Index Fund SBI Mutual Fund₹0 Cr−0.00 L
SBI Nifty Small Cap 250 ETF SBI Mutual Fund₹0 Cr+0.00 L

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

4 added, 1 trimmed — net +364 shares (+0.1%)

Funds are sitting on
-3%
vs est. average cost
Held by funds
₹257 Cr
8 schemes · ≈ 1.5% of the company
Biggest holder
Nippon India Small Cap Fund
₹225 Cr · 0.3% of that fund

Shares held by these funds −37%

Aug '23 6.45 L shares Jul '26

What the price assumes

Growth trap

To justify its price of ₹3974, this stock must grow earnings at 18% every year for 7 years. Our analysis caps realistic growth at ~1%. At that growth it is worth ₹1605 — downside of 60%.

Growth the price implies
18.3% a year
for 7 years, fading to 4%
It has actually compounded at
1.4% a year
net profit, FY23–FY26 · EPS 1.4%
The gap
0.2 pp
-60% downside if it only repeats history
Price today ₹3,974.1 Value at the reference growth ₹1,605.34

Change the assumptions yourself →

All earnings calls (5)

Read the Q2 FY26 call →

Learn to analyse Bayer Cropscience Limited

Guides on how to read this kind of business and the numbers that matter.