5719.30 -18.80 (-0.33%)
NSEJan 21, 2021 01:54 PM
The 5 reports from 2 analysts offering long term price targets for Bayer Cropscience Ltd. have an average target of 5757.50. The consensus estimate represents an upside of 0.67% from the last price of 5719.30.
|Summary||Date||Stock||Broker||Price at Reco.||Target||Price at reco|
Change since reco(%)
|2020-11-10||Bayer Cropscience Ltd. +||Prabhudas Lilladhar||5101.05||6090.00||5101.05 (12.12%)||6.48||Accumulate|
We lower BYRCS's topline, EBITDA & APAT estimates by 2%/3%/3% for FY21E, 3%/7%/6% for FY22E & 4%/5%/5% for FY23E to factor in lower topline growth and reduced gross margin expansion than earlier anticipated. We downgrade the stock to ACCUMULATE (from BUY) with revised TP of Rs 6090 (Previous 6421) based on 35x Sept'22 EPS of Rs 167. We continue to like the stock due to its lean business model, robust cash flow generation and superior return ratios of ~20-25%. BYRCS's 3% topline growth was largely...
|2020-06-04||Bayer Cropscience Ltd. +||Prabhudas Lilladhar||5392.20||6010.00||5392.20 (6.07%)||Target met||Buy|
Domestic agrochemical industry is expected to grow +20% YoY in Q1 driven by massive surge in herbicide sales, pre-buying led by robust demand expectation and ~5% price increase in generic molecules. Geographically, North India followed by South is expected to drive growth. Also, crop wise Rice will be the single largest growth driver for the industry driven by acreage expansion and shift from transplanting rice to Direct Seeded Rice (DSR). Molecules like Bispyribac Sodium (Key player PI Ind- Nominee Gold), Pyrazosulfuron (UPL- Saathi, Dhanuka- Cempa) Pendimethalin (UPL- Dost...
|2020-05-24||Bayer Cropscience Ltd. +||Prabhudas Lilladhar||5334.75||6010.00||5334.75 (7.21%)||Target met||Buy|
BYRCS reported solid results, topline grew by 82% YoY driven by high corn portfolio sales and sharp growth in CP segment. Massive sales return in 4QFY19 (57% revenue decline in 4QFY19 for core-BYRCS) led to favourable base but even excluding that growth is expected to be ~15-20% in CP. EBITDA (Rs582mn) and APAT (Rs601mn) reversed into profits from losses last year....
|2020-05-04||Bayer Cropscience Ltd. +||Ashika Research||4623.45||5425.00||4623.45 (23.70%)||Target met||Buy|
insecticides, fungicides and herbicides. The Company operates through Agri Care segment. It offers crop solutions for various crops, such as cotton, fruits, millet, mustard, pulses, rice, soybeans, sugar cane,...
|2020-03-12||Bayer Cropscience Ltd. +||Prabhudas Lilladhar||4001.20||5288.00||4001.20 (42.94%)||Target met||Buy|
Total Industry volume is up 11% to 4.4 mn tons. Urea/NPK/DAP sales are @ 2.5 mn tons/0.8 mn tons/0.5 mn tons, up 3%/28%/26% resp. SSP volumes grew 10% to 0.3 mn tons. Domestic phosphatic fertiliser sales...
|2019-05-31||Bayer Cropscience Ltd. +||Prabhudas Lilladhar||3815.15||3783.00||3815.15 (49.91%)||Target met||Hold|
BYRCS reported disappointing 4Q results with high costs and decline in Change in Estimates | Target | Reco revenue of ~57% YoY (due high sales return) leading to EBITDA and PAT loss. Subdued market conditions led to sales return of placed stocks (even though...
|2019-02-05||Bayer Cropscience Ltd. +||Emkay||4324.95||4840.00||4324.95 (32.24%)||Target met||Sell|
Bayer CropScience reported 29% yoy revenue growth to Rs6.2bn in Q3FY19, which was above our and consensus estimates. Despite overall domestic remaining under stress the performance was driven by rice, fruits and vegetable segments. Gross margins improved by 130bps yoy to 42% owing to better product mix and inventory gains. EBITDA margin expanded 280bps yoy to 7.5% vs. our estimates of 5.7%....
|2018-10-23||Bayer Cropscience Ltd. +||Emkay||4210.00||3743.00||4210.00 (35.85%)||Target met||Sell|
Bayer reported a revenue decline of 10% yoy to Rs11.0bn, which was well below our and consensus estimates, primarily due to adverse weather conditions in India (uneven rainfall and hailstorms) which affected standing crops, leading to down-trading by farmers. Despite this, gross margins improved by 170bps yoy to 39.9% on better product mix and inventory gains. However, EBITDA margins contracted by 350bps yoy due to a lower...
|2017-11-09||Bayer Cropscience Ltd. +||HDFC Securities||3899.95||3899.95 (46.65%)||Results Update|
Bayer CropScience Ltd Q2FY18 results comment Revenue grew by 76.5% to Rs. 1232.0 Cr in Q2FY18 when compared to the previous quarter. Also, it increased by 11.61% when compared with Q2FY17.
|2017-08-14||Bayer Cropscience Ltd. +||Axis Direct||4266.45||4200.00||4266.45 (34.05%)||Target met||Hold|
Weak Q1 with revenue down by 15% (flat expected) and PAT at Rs 1.1 bn (Rs 1.4 bn expected). EBITDA margin plummeted to 16.6% (~23% in Q1FY17). The domestic business (~85% of revenue) was impacted by GST-led destocking, while international business was affected by weak global agrichem market.
|2017-06-08||Bayer Cropscience Ltd. +||Axis Direct||4700.85||4200.00||4700.85 (21.67%)||Target met||Hold|
|2017-05-29||Bayer Cropscience Ltd. +||HDFC Securities||4415.50||4415.50 (29.53%)||Results Update|
|2017-05-24||Bayer Cropscience Ltd. +||Emkay||4445.20||4625.00||4445.20 (28.66%)||Target met||Hold|
Bayer reported a sharp 50% yoy drop in revenues to Rs2.4bn and below our estimate of Rs4.7bn (after adjusting for Ind-AS) and is also below consensus estimates. Revenue was impacted due to weak season in South India which constitutes 65% of Q4 sales Gross margins improved 430bps yoy to 44.6% benefiting from lower RM cost. However, Company reported EBITDA loss of Rs581mn vs. a profit of Rs 205mn in Q4FY16 Loss at...
|2017-02-17||Bayer Cropscience Ltd. +||Axis Direct||4008.00||4050.00||4008.00 (42.70%)||Target met||Hold|
Bayer's management expects CY17 to be a challenging year due to lower reservoir levels, high channel inventories and poor farmer liquidity;however, firm commodity prices and one goodagri-seasonare sufficient to address these issues. Despite challenges, Bayer's domestic revenue grew 16% YoY in 9M..
|2015-09-24||Bayer Cropscience Ltd. +||Karvy||3722.75||3322.00||3722.75 (53.63%)||Target met||Sell|
Increasing proportion of manufactured goods in the overall revenue from 43%in FY15 to 44% in FY17E is expected to lead to a 20 basis points jump in grossmargins from 64.8% in FY15 to 65.0% in FY16E & FY17E. It could have been higher, if not for the weak macro-industry environment. This increase is expected to act as a cushion for the EBITDA margins going forward. But, significant dependence on traded goods will continue to act as a ceiling for margins. We expect EBITDA margins to remain stable at lower levels of 11.9% & 12.3% in FY16E & FY17E respectively.