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Last Updated on: 11 October, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo
Stock Ticker - BSE: 506285 | NSE: BAYERCROP

Bayer CropScience Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: October 11, 2024, 10:27 pm

Market Cap 30,153 Cr.
Current Price 6,714
High / Low7,197/4,813
Stock P/E45.3
Book Value 634
Dividend Yield2.09 %
ROCE33.9 %
ROE26.7 %
Face Value 10.0
PEG Ratio7.30

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Bayer CropScience Ltd

Competitors of Bayer CropScience Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Epigral Ltd 9,256 Cr. 2,2282,408/87237.0 3020.22 %17.5 %16.9 % 10.0
Dharmaj Crop Guard Ltd 1,169 Cr. 346390/19727.5 1060.00 %14.5 %13.2 % 10.0
Bhaskar Agrochemicals Ltd 33.6 Cr. 64.5122/36.516.9 26.50.00 %14.7 %13.4 % 10.0
Bhagiradha Chemicals & Industries Ltd 4,353 Cr. 352448/117172 31.90.03 %9.69 %6.27 % 1.00
Best Agrolife Ltd 1,261 Cr. 5341,110/45434.0 2740.56 %16.5 %18.1 % 10.0
Industry Average12,181.00 Cr1,851.3650.92359.140.30%13.80%15.51%7.35

All Competitor Stocks of Bayer CropScience Ltd

Quarterly Result

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Sales1,4161,3659909631,6671,4521,0389821,7401,6179557921,631
Expenses1,0941,1439247631,2721,2149527771,3151,3128276951,317
Operating Profit322222662013952388520642530512897314
OPM %23%16%7%21%24%16%8%21%24%19%13%12%19%
Other Income151468161414116242116153028
Interest2236483784354
Depreciation15141421231514273112151622
Profit before tax320220118190382229184195406306124105316
Tax %21%30%28%19%21%29%27%19%19%27%25%9%20%
Net Profit254154851533031631341583282239396254
EPS in Rs56.4534.2918.8733.9867.3336.1829.9335.2773.0949.6020.7221.3656.56

Last Updated: October 7, 2024, 8:32 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024TTM
Sales2,6823,1883,6602,7692,8032,7103,1673,6094,2614,7345,1405,1034,995
Expenses2,3212,7683,1442,3342,3892,3002,6842,8833,4503,9234,2164,1474,151
Operating Profit362419516435414410483726812812924956843
OPM %13%13%14%16%15%15%15%20%19%17%18%19%17%
Other Income1,242918882703951-64691121687988
Interest4551071110141313222016
Depreciation37652525293344657464807464
Profit before tax1,563441574482448404480583794847990941851
Tax %26%34%33%35%35%26%30%19%38%24%23%21%
Net Profit1,162290383315291300337474493645758740666
EPS in Rs294.1179.06104.5989.1382.3187.4198.18105.58109.72143.58168.71164.77148.24
Dividend Payout %2%7%20%19%21%21%18%24%105%104%77%85%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)-75.04%32.07%-17.75%-7.62%3.09%12.33%40.65%4.01%30.83%17.52%-2.37%
Change in YoY Net Profit Growth (%)0.00%107.11%-49.82%10.14%10.71%9.24%28.32%-36.64%26.82%-13.31%-19.89%

Bayer CropScience Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:5%
5 Years:10%
3 Years:6%
TTM:-4%
Compounded Profit Growth
10 Years:10%
5 Years:17%
3 Years:15%
TTM:-6%
Stock Price CAGR
10 Years:11%
5 Years:15%
3 Years:9%
1 Year:27%
Return on Equity
10 Years:21%
5 Years:24%
3 Years:25%
Last Year:27%

Last Updated: Unknown

Balance Sheet

Last Updated: Unknown

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Equity Capital403737353534344545454545
Reserves1,8921,7061,9961,8042,0211,7442,2052,5282,5052,4792,6672,804
Borrowings0000000226867447
Other Liabilities4846457405977697561,3101,2621,6631,7421,8931,701
Total Liabilities2,4152,3872,7732,4372,8252,5353,5493,8364,2394,3534,6794,597
Fixed Assets219228322290342334440468425468462414
CWIP127217117243647567698109119
Investments44296850004152384154
Other Assets2,0661,9392,4222,0622,4102,1643,0623,2703,6863,7494,0664,010
Total Assets2,4152,3872,7732,4372,8252,5353,5493,8364,2394,3534,6794,597

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity 138282200206157121433666687216609952
Cash from Investing Activity 427-29048516-838-113-29764830
Cash from Financing Activity -21-480-42-590-73-581-158-148-556-703-613-656
Net Cash Flow544-488644-36776-421162489138-42479296

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow362.00419.00516.00435.00414.00410.00483.00724.00786.00726.00850.00909.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days444757537289817365776969
Inventory Days1069885169178175294206226235268222
Days Payable42514052676716410114212712987
Cash Conversion Cycle10894102171184197211177149185208204
Working Capital Days798853921041341167762878980
ROCE %29%24%31%25%23%22%25%30%31%31%34%34%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters71.43%71.43%71.43%71.43%71.43%71.43%71.44%71.44%71.44%71.44%71.44%71.44%
FIIs2.87%2.97%3.05%2.99%2.90%2.95%3.10%3.19%3.18%3.18%3.30%3.53%
DIIs12.49%11.34%12.23%12.53%12.90%13.10%12.76%12.78%12.74%13.06%13.23%12.70%
Public13.21%14.26%13.28%13.05%12.77%12.51%12.71%12.59%12.64%12.32%12.05%12.33%
No. of Shareholders65,28565,09362,32162,17860,23057,76057,89657,04857,25348,40445,32946,907

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Mirae Asset Large & Midcap Fund792,9541.33449.55792,9542024-10-100%
Nippon India Small Cap Fund531,4600.65301.3792,9542024-10-10-32.98%
Mirae Asset Midcap Fund510,0841.99289.18792,9542024-10-10-35.67%
Aditya Birla Sun Life ELSS Tax Saver Fund392,8961.48222.75792,9542024-10-10-50.45%
Aditya Birla Sun Life Frontline Equity Fund329,4350.71186.77792,9542024-10-10-58.45%
Nippon India Growth Fund303,5120.7172.07792,9542024-10-10-61.72%
HSBC Midcap Fund294,9591.72167.22792,9542024-10-10-62.8%
Aditya Birla Sun Life MNC Fund - Div280,9764.49159.3792,9542024-10-10-64.57%
Aditya Birla Sun Life MNC Fund - Gr280,9764.49159.3792,9542024-10-10-64.57%
Kotak Flexicap Fund - Regular Plan215,0000.27121.89792,9542024-10-10-72.89%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)164.77168.71143.58109.72105.58
Diluted EPS (Rs.)164.77168.71143.58109.72105.58
Cash EPS (Rs.)181.40186.57158.08126.19120.22
Book Value[Excl.RevalReserv]/Share (Rs.)634.61604.03562.20568.00572.94
Book Value[Incl.RevalReserv]/Share (Rs.)634.61604.03562.20568.00572.94
Dividend / Share (Rs.)140.00130.00150.00115.0025.00
Revenue From Operations / Share (Rs.)1136.571144.701054.43949.06803.88
PBDIT / Share (Rs.)230.51220.07192.81194.99176.48
PBIT / Share (Rs.)214.03202.36178.44178.62161.94
PBT / Share (Rs.)209.66220.51188.60176.95129.87
Net Profit / Share (Rs.)164.92168.86143.72109.82105.68
PBDIT Margin (%)20.2819.2218.2820.5421.95
PBIT Margin (%)18.8317.6716.9218.8220.14
PBT Margin (%)18.4419.2617.8818.6416.15
Net Profit Margin (%)14.5114.7513.6311.5713.14
Return on Networth / Equity (%)25.9827.9525.5619.3318.44
Return on Capital Employeed (%)32.0331.3129.7430.0526.96
Return On Assets (%)16.1016.2014.8211.6312.37
Asset Turnover Ratio (%)1.101.141.101.060.97
Current Ratio (X)2.442.192.152.262.65
Quick Ratio (X)1.481.181.241.411.80
Inventory Turnover Ratio (X)1.621.391.822.171.65
Dividend Payout Ratio (NP) (%)0.0074.09104.47104.8221.41
Dividend Payout Ratio (CP) (%)0.0067.0694.9891.2218.82
Earning Retention Ratio (%)0.0025.91-4.47-4.8278.59
Cash Earning Retention Ratio (%)0.0032.945.028.7881.18
Interest Coverage Ratio (X)52.8144.3167.1169.4857.42
Interest Coverage Ratio (Post Tax) (X)38.7830.3546.4939.7344.82
Enterprise Value (Cr.)22377.2917307.3021584.0322612.2014460.29
EV / Net Operating Revenue (X)4.383.374.565.314.01
EV / EBITDA (X)21.6217.5224.9325.8318.25
MarketCap / Net Operating Revenue (X)4.613.544.735.594.30
Retention Ratios (%)0.0025.90-4.47-4.8278.58
Price / BV (X)8.266.708.869.346.04
Price / Net Operating Revenue (X)4.613.544.735.594.30
EarningsYield0.030.040.020.020.03

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Bayer CropScience Ltd as of October 11, 2024 is: ₹7,828.56

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of October 11, 2024, Bayer CropScience Ltd is Undervalued by 16.60% compared to the current share price ₹6,714.00

Intrinsic Value of Bayer CropScience Ltd as of October 11, 2024 is: ₹8,314.15

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of October 11, 2024, Bayer CropScience Ltd is Undervalued by 23.83% compared to the current share price ₹6,714.00

Last 5 Year EPS CAGR: 6.20%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 28.25%, which is a positive sign.
  2. The company has higher reserves (2,195.92 cr) compared to borrowings (19.58 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (3.23 cr) and profit (602.77 cr) over the years.
  1. The stock has a high average Working Capital Days of 88.42, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 165.83, which may not be favorable.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Bayer CropScience Ltd:
    1. Net Profit Margin: 14.51%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 32.03% (Industry Average ROCE: 13.8%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 25.98% (Industry Average ROE: 15.51%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 38.78
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 1.48
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 45.3 (Industry average Stock P/E: 37.64)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

Bayer Cropscience Ltd. is a Public Limited Listed company incorporated on 09/09/1958 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L24210MH1958PLC011173 and registration number is 011173. Currently Company is involved in the business activities of Manufacture of insecticides, rodenticides, fungicides, herbicides. Company’s Total Operating Revenue is Rs. 4734.40 Cr. and Equity Capital is Rs. 44.90 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Agro Chemicals/PesticidesBayer House, Central Avenue, Mumbai Maharashtra 400607ir_bcsl@bayer.com
http://www.bayer.in
Management
NamePosition Held
Mr. Pankaj Ramanbhai PatelChairman & Ind.Dire (Non-Exe)
Mr. Simon Thorsten WiebuschVice Chairman & Mng.Director
Ms. Ketaki Sanat BhagwatiInd. Non-Executive Director
Mr. Sekhar NatarajanInd. Non-Executive Director
Mr. Simon Johannes BritschExecutive Director & CFO
Dr. Thomas HoffmannNon Exe.Non Ind.Director
Dr. Miriam HolsteinNon Exe.Non Ind.Director
Ms. Radhika RajanInd. Non-Executive Director

FAQ

What is the latest fair value of Bayer CropScience Ltd?

The latest fair value of Bayer CropScience Ltd is ₹7828.56.

What is the Market Cap of Bayer CropScience Ltd?

The Market Cap of Bayer CropScience Ltd is 30,153 Cr..

What is the current Stock Price of Bayer CropScience Ltd as on 11 October 2024?

The current stock price of Bayer CropScience Ltd as on 11 October 2024 is ₹6,714.

What is the High / Low of Bayer CropScience Ltd stocks in FY 2024?

In FY 2024, the High / Low of Bayer CropScience Ltd stocks is 7,197/4,813.

What is the Stock P/E of Bayer CropScience Ltd?

The Stock P/E of Bayer CropScience Ltd is 45.3.

What is the Book Value of Bayer CropScience Ltd?

The Book Value of Bayer CropScience Ltd is 634.

What is the Dividend Yield of Bayer CropScience Ltd?

The Dividend Yield of Bayer CropScience Ltd is 2.09 %.

What is the ROCE of Bayer CropScience Ltd?

The ROCE of Bayer CropScience Ltd is 33.9 %.

What is the ROE of Bayer CropScience Ltd?

The ROE of Bayer CropScience Ltd is 26.7 %.

What is the Face Value of Bayer CropScience Ltd?

The Face Value of Bayer CropScience Ltd is 10.0.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Bayer CropScience Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE