BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Prabhudas Lilladher Report
Bayer Crop Science Ltd. reported better than expected results during Q2 FY23 led by strong performance from crop protection portfolio and product liquidation.
While remunerative corn prices in the domestic market has resulted into strong sales of corn hybrids during the kharif season.
Bayer Crop Science reported revenue growth of 6% YoY to Rs 14.5 billion (our estimate: Rs 14.8 billion). Ebitda grew by 7% YoY to Rs 2.3 billion and was higher than our as well as consensus estimate.
We believe, better performance in the crop protection business was aided by higher realisations in Glyphosate.
While decent revenue growth coupled with price hikes taken in the recent past helped to partially mitigate the cost inflation. Corn seeds business witnessed better liquidation in kharif 2022 led by remunerative crop prices.
While rice hybrids were impacted due to delay in monsoons and unfavorable weather conditions.
Click on the attachment to read the full report:
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.