Sector Alpha Week of 2026-08-14
Sector Alpha — machine-written from the numbers · Data as of 2026-08-14

Bayer CropScience Ltd

BAYERCROP
Pesticides/Agrochemicals

Bayer CropScience Ltd's earnings have outrun its stock. EPS grew +21.3% in a year against a −28.4% price move.

The sharpest disagreement: annual EPS moved +21.3% against a −28.4% price move — the market has not yet caught up with the delivery.

The price is in a downtrend (46 weeks in) while the P/E sits at the 0th percentile of its own 10-year range. Underneath, the last four quarters read improving — profit +15.4% year on year, and 115% of the last 3 years' profit arrived as cash. What settles it: whether the price catches up with earnings that have already moved.

Stage
Turning around
partial read
Price
₹4,046
−28.4% 1Y
P/E
24.8×
0th pctile
of its own 10-year range
Revenue (Jun 26)
₹1,835 Cr
−4.2% YoY
Profit (Jun 26)
₹322 Cr
+15.4% YoY
Operating margin
20.0%
+2.0 pp YoY
ROCE
29%
FY26
ROIC
39.1%
vs WACC 12.0% → +27.1 pp
Cash conversion
115%
of profit, last 3 FY
01 · Price story

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Bayer CropScience Ltd trades at ₹4,046, in a downtrend and 46 weeks into that stage. That is −11.0% against its own 200-day average. It sits at 0% of a 52-week range of ₹4,046 to ₹5,347. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (17 weeks and counting).

Today the stock is in a downtrend — week 46 of stage 4, confirmed. At ₹4,046 it trades −11.0% versus its 200-day average and sits at 0% of its 52-week range (₹4,046–₹5,347).

Aug 26: ₹4,046 Weekly closing price (₹) with 50- and 200-day averages; shaded bands mark the price stage (grey base, green advance, amber top, red decline). 3-year window.
−11.0% versus the 200-day line, week 46 of stage 4
Price50-day avg200-day avg
S2S4S2S4₹7,101₹6,281₹5,460₹4,640₹3,820₹4,046₹4,544Aug 23May 24Feb 25Nov 25Aug 26
S2S4S2S4₹7,101₹6,281₹5,460₹4,640₹3,820₹4,046₹4,544Aug 23Feb 25Aug 26
Beating or trailing, week by week since 2016 Each cell is one week from 2016 to now (548 weeks): the stock's trailing 13-week return minus the NIFTY 500's, green ahead / red behind (±25% ramp). Grey cells are the 13-week warm-up or weeks where the NIFTY 500 reading is not held.
trailing 13-week return vs the NIFTY 500
Mar 16Aug 26

Against the market, two honest reads. Cumulative: over the last 10.4 years the stock moved +14% while the NIFTY 500 moved +278% — behind the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (17 weeks and counting; last ahead the week of 2026-05-22) — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

02 · Valuation

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Bayer CropScience Ltd trades at 24.8× P/E, about the cheapest it has ever traded. Its long-run median P/E is 39.8×, measured across 10.0 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 24.8× is about the cheapest it has ever traded, against a long-run median of 39.8× measured over 10.0 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

P/E 24.8× vs a 39.8× long-run median P/E, weekly (left axis); earnings per share, trailing twelve months, weekly (right axis). 10.0-year window; loss-period spikes above 57× shown pinned at the top. The eps (ttm) bars are red where the reading is lower than the quarter before.
about the cheapest it has ever traded
P/EMedianEPS (TTM) (quarterly)
59.7×₹19250.3×₹14441.0×₹96.231.6×₹48.122.2×₹0.0×24.80×₹163Aug 16Feb 19Aug 21Feb 24Aug 26
59.7×₹19250.3×₹14441.0×₹96.231.6×₹48.122.2×₹0.0×24.80×₹163Aug 16Aug 21Aug 26
P/E
24.8×
0th percentile of 10y
PEG
2.11
derived from 3-year earnings growth

Why the multiple sits where it does: over the past year annual EPS moved +21.3% against a −28.4% price move — earnings outran the price, pushing the multiple DOWN its own range.

The price move, decomposed: over 5y, of the −7.9%/yr price move, ~+8.4%/yr came from earnings growth and ~−16.3 pp from the multiple (compressing); over 10y, of the −0.1%/yr price move, ~+5.7%/yr came from earnings growth and ~−5.8 pp from the multiple (compressing). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.

Put together: the multiple is low against its own past, so the story rests on the earnings line underneath it, not the multiple.

03 · Stage: Turning around

Stage: Turning around Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Bayer CropScience Ltd reads as turning around on its fundamental arc. Turning around — profit growth swung from −21.3% at the trough to +23.8% off a 5-quarter-old trough, ROCE holding at 29.0%. The read is built from 8 quarters across 4 curves, on partial evidence.

Growth, year by year: revenue +3.7% in FY26, profit +21.3% Year-over-year growth per fiscal year, %: revenue (left axis); net profit and EPS (right axis — profit growth swings far wider). Zero line drawn.
Revenue YoYProfit YoYEPS YoY
21%46%9.2%27%−3.1%8.7%−15%−9.9%−28%−28%%%3.7%21.3%FY16FY21FY26
21%46%9.2%27%−3.1%8.7%−15%−9.9%−28%−28%%%3.7%21.3%FY16FY21FY26
Three growth curves, twelve quarters Year-on-year growth of trailing-twelve-month revenue (left axis), profit and EPS (right axis — they swing far wider), % at each quarter-end. A missing point means that reading is not held for the quarter.
the trajectory the stage is read from · revenue rolling over, profit accelerating
RevenueProfitEPS
37%33%26%18%16%2.8%4.9%−12%−5.7%−28%%%−2.8%23.8%23.6%Sep 23Dec 24Jun 26
37%33%26%18%16%2.8%4.9%−12%−5.7%−28%%%−2.8%23.8%23.6%Sep 23Dec 24Jun 26
ROCE Annual readings — the quarterly balance-sheet pieces this curve needs are not held for this stock, so the returns read moves once a year and carries less weight in the call.
the return curve, annual readings
ROCE
35%32%30%27%24%%29%FY23FY24FY26
35%32%30%27%24%%29%FY23FY24FY26
Revenue growth
Falling
latest −2.8% · span −2.8% to +33.9%
Profit growth
Rising
latest +23.8% · span −23.4% to +29.0%
EPS growth
Rising
latest +23.6% · span −23.3% to +28.8%
ROCE
Steady high
latest 29.0% · span 25.0%–34.0%

Why it matters: growth inflections are where re-ratings start — the curves say a turn is forming, so the question becomes whether the next quarters confirm it.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.

Compound annual growth rate (%) Compound annual growth rate over each window, %. Revenue, profit and EPS from fiscal-year figures; share price is the price CAGR over the same spans. A dash = that window is not held, or the base was a loss.
1yr3yr5yr10yr
Revenue+3.7%+3.4%+5.9%+7.4%
Profit+21.3%−3.1%+6.9%+8.1%
EPS+21.3%−3.1%+6.9%+5.6%
Share price−28.4%−5.2%−7.9%−0.1%
Revenue YoY (Jun 26)
−4.2%
latest quarter vs a year ago
Profit YoY (Jun 26)
+15.4%
latest quarter vs a year ago
Revenue 10y
7.4%
long-run compound pace
04 · 4-Factor Sector Score

4-Factor Sector Score

71.0/100 — rank 2 of 24 in Pesticides/Agrochemicals · 91% evidence confidence

Bayer CropScience Ltd scores 71.0 out of 100 against the 24 companies it is compared with in Pesticides/Agrochemicals, ranking 2. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 22.5 + 20.8 + 14.7 + 13 = 71. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

05 · Revenue

Revenue Revenue is the top line: everything the company billed its customers in the period.

Bayer CropScience Ltd reported ₹1,835 Cr of revenue in the Jun 26 quarter, −4.2% year on year. Over 10 years it has compounded at 7.4% a year. The last full year, FY26, came in at ₹5,675 Cr. The last four reported quarters add to ₹5,595 Cr.

FY26 revenue came in at ₹5,675 Cr (+3.7% on the year), capping 10 years at 7.4% compound. The latest quarter (Jun 26) printed ₹1,835 Cr, −4.2% year on year.

FY26 revenue ₹5,675 Cr (+3.7% YoY) Revenue bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
7.4% a year over 10 years
RevenueYoY growth
6.1k21%4.6k9.2%3.1k−3.1%1.5k−15%0−28%₹ Cr%₹5,6753.7%FY16FY21FY26
6.1k21%4.6k9.2%3.1k−3.1%1.5k−15%0−28%₹ Cr%₹5,6753.7%FY16FY21FY26
Jun 26: ₹1,835 Cr (−4.2% YoY) Quarterly revenue bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
Revenue (quarterly)YoY growth
2.1k36%1.6k23%1.0k11%517−1.6%0−14%₹ Cr%₹1,835−4.2%Sep 23Dec 24Jun 26
2.1k36%1.6k23%1.0k11%517−1.6%0−14%₹ Cr%₹1,835−4.2%Sep 23Dec 24Jun 26

Pace check: the last four quarters averaged −1.2% growth against the decade's 7.4% — the current year is running slower than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew −2.8% over the last 4 quarters against +5.8%/yr over the last 8 — rolling over; TTM profit +23.8% vs +4.9%/yr — accelerating.

06 · Operating margin

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

Bayer CropScience Ltd's operating margin is 20.0% in the Jun 26 quarter, +2.0 percentage points against the same quarter a year ago. Across 14 fiscal years the operating margin has ranged 4.8% to 20.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 20.0%, +2.0 pp against the same quarter a year ago. Across 14 fiscal years the operating margin has ranged 4.8%–20.0%.

Why the margin moved: operating margin went +1.8 pp year on year while gross margin went +4.6 pp — the gain came mostly from the gross line: input costs and pricing.

FY26: 15.0% Operating margin by fiscal year, %, line (left); year-on-year change in the margin, in percentage points, line (right). 14-year window.
within a 4.8–20.0% band over 14 years
operating marginYoY change (pp)
21%10%17%6.0%12%1.6%8.0%−2.8%3.6%−7.2%%%15%2%Dec 05FY19FY26
21%10%17%6.0%12%1.6%8.0%−2.8%3.6%−7.2%%%15%2%Dec 05FY19FY26
Jun 26: 20.0% operating margin (+2.0 pp YoY) Quarterly operating margin, %, line (left); year-on-year change in the margin, in percentage points, line (right). Last 12 quarters. Operating profit as a share of revenue, per quarter.
Operating marginYoY change (pp)
21%11%16%4.9%11%−1.0%5.7%−6.9%0.5%−13%%%20%2%Sep 23Dec 24Jun 26
21%11%16%4.9%11%−1.0%5.7%−6.9%0.5%−13%%%20%2%Sep 23Dec 24Jun 26
07 · Net profit

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Bayer CropScience Ltd earned ₹322 Cr of net profit in the Jun 26 quarter, +15.4% year on year. It is the 6th consecutive quarter of growth. Full-year FY26 profit was ₹689 Cr. The 10-year compound rate is 8.1%. That is 17.5% of the quarter's revenue. The same quarter a year earlier earned ₹279 Cr.

Jun 26 profit was ₹322 Cr, +15.4% year on year — the 6th consecutive quarter of growth. On the full year, FY26 printed ₹689 Cr (+21.3%), and the 10-year compound rate is 8.1%.

FY26 profit ₹689 Cr (+21.3% YoY) Net profit bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
8.1% a year over 10 years
Net profitYoY growth
81946%61427%4098.8%205−9.8%0−28%₹ Cr%₹68921.3%FY16FY21FY26
81946%61427%4098.8%205−9.8%0−28%₹ Cr%₹68921.3%FY16FY21FY26
Jun 26: ₹322 Cr (+15.4% YoY) Quarterly net profit bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
6th straight quarter of growth
Net profit (quarterly)YoY growth
348202%261131%17460%87−12%0−83%₹ Cr%₹32215.4%Sep 23Dec 24Jun 26
348202%261131%17460%87−12%0−83%₹ Cr%₹32215.4%Sep 23Dec 24Jun 26

Why profit moved: revenue contributed −4.2% and the margin +2.0 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.

Pace comparison, last four quarters: profit +55.9% vs revenue −1.2%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.

08 · Cash flow — the router

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years 115% of Bayer CropScience Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹1,078 Cr of operating cash against ₹689 Cr of profit. After ₹90.0 Cr of capital spending, ₹988 Cr was left as free cash.

FY26: operating cash of ₹1,078 Cr against reported profit of ₹689 Cr, leaving free cash of ₹988 Cr after ₹90.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 115% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

FY26: CFO ₹1,078 Cr vs profit ₹689 Cr Operating cash flow and net profit by fiscal year, ₹ Cr; the line is free cash flow (CFO minus capital spending). 11-year window, annual resolution.
115% of 3-year profit arrived as cash
Operating cashNet profitFree cash
1.2k8735822910₹ Cr₹1,078₹689₹988FY16FY21FY26
1.2k8735822910₹ Cr₹1,078₹689₹988FY16FY21FY26
FY26: CFO = 156% of profit (three-year rate 115%) Operating cash as a share of net profit, per fiscal year, % (line). Dashed line = 100% — every unit of profit arriving as cash.
Conversion100%
166%130%95%59%23%%156%FY16FY21FY26
166%130%95%59%23%%156%FY16FY21FY26

Why conversion sits at 115%: the cash cycle stretched 44 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving.

Router verdict: no single sink dominates — the next section checks both the working-capital cycle and the capital spending.

09 · Where the cash goes

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Bayer CropScience Ltd's cash conversion cycle runs 193 days in FY26, up from 149 days in FY21. Capital spending ran ₹267 Cr over the last 3 years. At FY26 sales of ₹5,675 Cr each day of that cycle holds about ₹15.5 Cr, so roughly ₹3,001 Cr sits inside the business at any moment.

FY26: debtors at 72 days, inventory at 289 days — roughly 9.5 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 193 days, looser than FY21's 149.

The full loop: cash goes out to suppliers and production on day 0; stock waits 289 days to sell; customers pay about 72 days after that; and suppliers themselves are paid at 167 days — netting out to the 193-day cycle.

In money terms: at FY26 sales of ₹5,675 Cr, each day of the cycle holds about ₹15.5 Cr — so the 193-day loop keeps roughly ₹3,001 Cr sitting inside the business at any moment.

FY26: a 193-day cash cycle Debtor days, inventory days, payable days and the cash conversion cycle by fiscal year. 14-year window.
+44 days vs FY21
Cash cycleInventory daysDebtor daysPayable days
3412601809918days193d289d72d167dDec 05FY16FY19FY22FY26
3412601809918days193d289d72d167dDec 05FY19FY26

On the investment side: capital spending of ₹267 Cr over the last 3 fiscal years against ₹253 Cr of depreciation — building somewhat ahead of wear-and-tear. Capital work-in-progress stands at ₹127 Cr (FY26) — capacity paid for but not yet earning.

FY26: capex ₹90.0 Cr, work-in-progress ₹127 Cr Capital spending per fiscal year, ₹ Cr (bars); capital work-in-progress, ₹ Cr (line). Quarterly capital-spending history is not held for India — annual is the honest resolution.
steady investment
CapexWork-in-progress
17413087430₹ Cr₹90₹127FY16FY18FY21FY23FY26
17413087430₹ Cr₹90₹127FY16FY21FY26

The synthesis: neither the cycle nor the build-out is hoarding the cash — the machine is reasonably clean.

10 · Return on capital

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.

Bayer CropScience Ltd earns a ROCE of 29% in FY26. That is up from a trough of 20% in Dec 06. Return on invested capital clears the cost of that capital by +27.1 percentage points, so growth here adds value rather than only size. The wiring behind it is 12.1% net margin on 1.00× asset turns.

FY26 ROCE is 29%, recovered from a Dec 06 trough of 20% — the full ladder below shows the fall and the climb, undoctored.

Why the return is what it is — the wiring (FY26): 12.1% net margin × 1.00× asset turns × 1.92× balance-sheet leverage ≈ 23.2% on equity. Margin does its share; leverage is a meaningful part of the equation.

The capstone test — ROIC − WACC: 39.1% − 12.0% = a +27.1 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. A spread this wide means every rupee reinvested creates more than a rupee of value — the engine compounds.

FY26: ROCE 29% Return on capital employed by fiscal year, % (line); ROIC by fiscal year, % (line). 13-year window, dips included. Dashed line = the 12.0% cost of capital used on this page.
the climb back from Dec 06's 20%
ROCEROIC (annual)WACC
42%34%26%18%9.8%%29%34.9%Dec 06FY20FY26
42%34%26%18%9.8%%29%34.9%Dec 06FY20FY26
Q4 FY26: ROCE 24.9% (TTM) vs WACC 12.0% Trailing-twelve-month ROCE and ROIC, per quarter, %; dashed line = the cost of capital. Last 12 quarters, put on a trailing-twelve-month basis and anchored to the annual figure.
ROCE (TTM)ROIC (TTM)WACC
39%31%24%17%10%%24.9%28.6%Q1 FY24Q2 FY25Q4 FY26
39%31%24%17%10%%24.9%28.6%Q1 FY24Q2 FY25Q4 FY26
11 · Debt

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.

Bayer CropScience Ltd carries total debt of ₹82.0 Cr against shareholder equity of ₹2,966 Cr as of Mar 26, a debt-to-equity of 0.03 — effectively unlevered. On the annual view that ratio went from 0.03 in FY22 to 0.03 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.

Mar 26: total debt of ₹82.0 Cr against shareholder equity of ₹2,966 Cr — a debt-to-equity of 0.03. On the annual view, debt-to-equity went from 0.03 (FY22) to 0.03 (FY26). The returns on this page are earned, not borrowed.

FY26: debt ₹82.0 Cr at 0.03× equity Total debt by fiscal year, ₹ Cr (bars); debt-to-equity, × (line). 5-year window.
Total debtDebt-to-equity
1130.042×850.036×570.030×280.024×00.018×₹ Cr×₹820.03×FY22FY24FY26
1130.042×850.036×570.030×280.024×00.018×₹ Cr×₹820.03×FY22FY24FY26
Mar 26: debt ₹82.0 Cr, debt-to-equity 0.03 Total debt per quarter, ₹ Cr (bars); debt-to-equity, × (line). Last 12 quarters. India reports the full balance sheet half-yearly, so the intervening quarter carries the prior reading forward.
Total debt (quarterly)Debt-to-equity
1130.042×850.034×570.025×280.016×00.008×₹ Cr×₹820.03×Jun 23Sep 24Mar 26
1130.042×850.034×570.025×280.016×00.008×₹ Cr×₹820.03×Jun 23Sep 24Mar 26
12 · Ownership

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

No holder of Bayer CropScience Ltd moved a full percentage point over the last two years — the register is quiet. Foreign institutions moved +0.3 points over the same window, to 4.0%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Domestic institutions: −0.8 points over 8 quarters to 11.6%; Foreign institutions: +0.3 points over 8 quarters to 4.0%; Promoters: +0.0 points over 8 quarters to 71.4%.

Fiscal-year ends: promoters +0.0 pts from Mar 24 to Mar 26 Shareholding at each fiscal-year end (March quarter), % of the company. 3 year-ends held.
PromotersForeign inst.Domestic inst.Public
77%57%37%18%−1.9%%71.4%3.9%11.9%12.8%Mar 24Mar 25Mar 26
77%57%37%18%−1.9%%71.4%3.9%11.9%12.8%Mar 24Mar 25Mar 26
A quiet register: no holder moved a full point in two years Shareholding by holder class, % of the company, quarterly, last 13 quarters.
PromotersForeign inst.Domestic inst.Public
77%57%37%18%−2.3%%71.4%4.0%11.6%13.0%Jun 23Dec 24Jun 26
77%57%37%18%−2.3%%71.4%4.0%11.6%13.0%Jun 23Dec 24Jun 26
13 · Safety line

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Bayer CropScience Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

14 · Related companies · Pesticides/Agrochemicals
CompanyScorePrice stageGrowth & earnings/35Capital efficiency/25Valuation/20Relative strength/20
1Titan Biotech LtdTITANBIO 73.2/100Favorable setup76% evidence 30.1/35 Revenue 37.7% · PAT 59.1% · OPM change 2 pp 95% evidence 20.1/25 ROCE 22.8% · OPM 21% 76% evidence 6.0/20 P/E 48.7× · PEG — 50% evidence 17.0/20 RS sector 103.8% · RS bench 85% · 1Y 212.3%8 of 12 weeks ahead to 2026-03-08 70% evidence
Exact sum: 30.1 + 20.1 + 6 + 17 = 73.2 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
2Bayer CropScience Ltdthis pageBAYERCROP 71.0/100Favorable setup91% evidence BASING 22.5/35 Revenue -2.8% · PAT 23.8% · OPM change 2 pp 95% evidence 20.8/25 ROCE 29.1% · OPM 20% 95% evidence 14.7/20 P/E 24.8× · PEG 1.28 100% evidence 13.0/20 RS sector 12.3% · RS bench -14% · 1Y -27.4%0 of 10 weeks ahead 70% evidence
Exact sum: 22.5 + 20.8 + 14.7 + 13 = 71 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
3Sharda Cropchem LtdSHARDACROP 64.1/100Mixed-positive evidence97% evidence ASLEEP 23.6/35 Revenue 18.5% · PAT 49% · OPM change -5 pp 95% evidence 19.3/25 ROCE 30.2% · OPM 17% 95% evidence 18.7/20 P/E 11.3× · PEG 0.26 100% evidence 2.5/20 RS sector -14.9% · RS bench -17% · 1Y -20.6%0 of 12 weeks ahead 100% evidence
Exact sum: 23.6 + 19.3 + 18.7 + 2.5 = 64.1 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -14.9% and the one-year return is -20.6%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
4Punjab Chemicals & Crop Protection LtdPUNJABCHEM 61.6/100Mixed-positive evidence81% evidence FADING 23.0/35 Revenue 8.2% · PAT 43.5% · OPM change 1 pp 95% evidence 18.1/25 ROCE 18.6% · OPM 12% 95% evidence 11.6/20 P/E 20× · PEG — 50% evidence 8.9/20 RS sector -3.8% · RS bench -6.7% · 1Y -15.4%1 of 10 weeks ahead 70% evidence
Exact sum: 23 + 18.1 + 11.6 + 8.9 = 61.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5Dharmaj Crop Guard LtdDHARMAJ 60.7/100Mixed-positive evidence74% evidence BASING 20.7/35 Revenue 8.5% · PAT 13.2% · OPM change 1 pp 95% evidence 15.2/25 ROCE 16.4% · OPM 15% 95% evidence 10.9/20 P/E 15.2× · PEG — 15% evidence 13.9/20 RS sector 7.7% · RS bench -1.3% · 1Y -17.1%2 of 10 weeks ahead 70% evidence
Exact sum: 20.7 + 15.2 + 10.9 + 13.9 = 60.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
6Advance Agrolife LtdADVANCE 57.2/100Mixed-positive evidence60% evidence TURNING 21.5/35 Revenue 48.4% · PAT 81.5% · OPM change 1 pp 95% evidence 14.9/25 ROCE 19.3% · OPM 11% 95% evidence 10.8/20 P/E 15.6× · PEG — 15% evidence 10.0/20 RS sector — · RS bench — · 1Y —4 of 10 weeks ahead 0% evidence
Exact sum: 21.5 + 14.9 + 10.8 + 10 = 57.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
7Bhagiradha Chemicals & Industries LtdBHAGCHEM 56.8/100Mixed-positive evidence100% evidence TURNING 28.8/35 Revenue 33.7% · PAT 100% · OPM change 9 pp 100% evidence 7.0/25 ROCE 4.5% · OPM 16% 100% evidence 1.6/20 P/E 137× · PEG 8.06 100% evidence 19.4/20 RS sector 20.5% · RS bench 16.9% · 1Y 0.6%11 of 12 weeks ahead 100% evidence
Exact sum: 28.8 + 7 + 1.6 + 19.4 = 56.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
8India Pesticides LtdIPL 53.6/100Mixed-positive evidence81% evidence ASLEEP 20.0/35 Revenue 17% · PAT 10.1% · OPM change -2 pp 95% evidence 13.7/25 ROCE 16.6% · OPM 14% 95% evidence 14.1/20 P/E 15× · PEG — 50% evidence 5.8/20 RS sector -9.6% · RS bench -18.6% · 1Y -38%3 of 11 weeks ahead 70% evidence
Exact sum: 20 + 13.7 + 14.1 + 5.8 = 53.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
9Rallis India LtdRALLIS 51.3/100Mixed-positive evidence91% evidence ASLEEP 19.8/35 Revenue 4.4% · PAT 24.4% · OPM change 2 pp 95% evidence 10.6/25 ROCE 14.1% · OPM 18% 95% evidence 11.2/20 P/E 18.1× · PEG 2.15 100% evidence 9.7/20 RS sector 0.8% · RS bench -21% · 1Y -40.6%0 of 10 weeks ahead 70% evidence
Exact sum: 19.8 + 10.6 + 11.2 + 9.7 = 51.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
10Jubilant Ingrevia LtdJUBLINGREA 51.1/100Mixed-positive evidence93% evidence FADING 18.6/35 Revenue 11% · PAT 11.2% · OPM change 1 pp 100% evidence 10.6/25 ROCE 11.4% · OPM 15% 100% evidence 6.1/20 P/E 36.9× · PEG 2.41 65% evidence 15.8/20 RS sector 10.5% · RS bench 7.3% · 1Y 5.2%4 of 12 weeks ahead 100% evidence
Exact sum: 18.6 + 10.6 + 6.1 + 15.8 = 51.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
11GSP Crop Science LtdGSPCROP 50.3/100Mixed-positive evidence63% evidence BREAKING OUT 18.1/35 Revenue 16.1% · PAT 36.1% · OPM change 0 pp 100% evidence 12.8/25 ROCE 19% · OPM 11% 100% evidence 9.4/20 P/E 26.5× · PEG — 15% evidence 10.0/20 RS sector — · RS bench — · 1Y —5 of 5 weeks ahead 0% evidence
Exact sum: 18.1 + 12.8 + 9.4 + 10 = 50.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
12NACL Industries LtdNACLIND 47.3/100Mixed-negative evidence100% evidence ASLEEP 28.9/35 Revenue 11.9% · PAT 100% · OPM change 3 pp 100% evidence 4.0/25 ROCE 8.1% · OPM 11% 100% evidence 3.7/20 P/E 151× · PEG 2.02 100% evidence 10.7/20 RS sector -3.5% · RS bench -6.8% · 1Y -39.1%10 of 12 weeks ahead 100% evidence
Exact sum: 28.9 + 4 + 3.7 + 10.7 = 47.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
13Sumitomo Chemical India LtdSUMICHEM 45.8/100Mixed-negative evidence94% evidence BREAKING OUT 12.4/35 Revenue -3.6% · PAT 3.9% · OPM change 1 pp 100% evidence 19.0/25 ROCE 22.1% · OPM 22% 100% evidence 3.8/20 P/E 49.4× · PEG 4 100% evidence 10.6/20 RS sector -5.8% · RS bench 17.2% · 1Y -2.1%9 of 10 weeks ahead 70% evidence
Exact sum: 12.4 + 19 + 3.8 + 10.6 = 45.8 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
14Bharat Rasayan LtdBHARATRAS 45.1/100Mixed-negative evidence87% evidence BASING 10.5/35 Revenue -5.2% · PAT 3.6% · OPM change -3 pp 95% evidence 14.6/25 ROCE 17.4% · OPM 15% 95% evidence 14.3/20 P/E 14.8× · PEG — 50% evidence 5.7/20 RS sector -29.3% · RS bench -32% · 1Y -50.2%0 of 12 weeks ahead 100% evidence
Exact sum: 10.5 + 14.6 + 14.3 + 5.7 = 45.1 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
15Meghmani Organics LtdMOL 45.1/100Mixed-negative evidence74% evidence TURNING 20.8/35 Revenue -7.8% · PAT 100% · OPM change 7 pp 95% evidence 7.8/25 ROCE 6.7% · OPM 18% 95% evidence 9.5/20 P/E 25× · PEG — 15% evidence 7.0/20 RS sector -32% · RS bench 2.7% · 1Y -26.3%4 of 10 weeks ahead 70% evidence
Exact sum: 20.8 + 7.8 + 9.5 + 7 = 45.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
16Excel Industries LtdEXCELINDUS 43.9/100Mixed-negative evidence74% evidence BASING 12.0/35 Revenue 5.5% · PAT -20.4% · OPM change 0 pp 95% evidence 10.3/25 ROCE 6.1% · OPM 14% 95% evidence 10.4/20 P/E 17.8× · PEG — 15% evidence 11.2/20 RS sector -2.1% · RS bench 0.4% · 1Y -13.4%0 of 10 weeks ahead 70% evidence
Exact sum: 12 + 10.3 + 10.4 + 11.2 = 43.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
17Epigral LtdEPIGRAL 42.0/100Mixed-negative evidence94% evidence ASLEEP 7.1/35 Revenue 4.8% · PAT -37.4% · OPM change -2 pp 100% evidence 14.6/25 ROCE 15.5% · OPM 25% 100% evidence 15.6/20 P/E 17.5× · PEG 0.43 100% evidence 4.7/20 RS sector -31.1% · RS bench -15.3% · 1Y -40.2%5 of 10 weeks ahead 70% evidence
Exact sum: 7.1 + 14.6 + 15.6 + 4.7 = 42 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
18Dhanuka Agritech LtdDHANUKA 41.2/100Mixed-negative evidence100% evidence ASLEEP 6.3/35 Revenue -5.6% · PAT -12.1% · OPM change -4 pp 100% evidence 16.3/25 ROCE 23.8% · OPM 12% 100% evidence 11.6/20 P/E 16.8× · PEG 1.72 100% evidence 7.0/20 RS sector -13% · RS bench -16.1% · 1Y -36.9%3 of 12 weeks ahead 100% evidence
Exact sum: 6.3 + 16.3 + 11.6 + 7 = 41.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
19Astec Lifesciences LtdASTEC 40.4/100Mixed-negative evidence69% evidence ASLEEP 23.7/35 Revenue 9.4% · PAT 47.7% · OPM change 11.2 pp 71% evidence 3.3/25 ROCE -5.4% · OPM -0.8% 95% evidence 10.0/20 P/E — · PEG — 0% evidence 3.4/20 RS sector -14.5% · RS bench -17.3% · 1Y -26.1%6 of 12 weeks ahead 100% evidence
Exact sum: 23.7 + 3.3 + 10 + 3.4 = 40.4 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -14.5% and the one-year return is -26.1%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
20UPL LtdUPL 40.0/100Mixed-negative evidence91% evidence ASLEEP 16.9/35 Revenue 12.9% · PAT 98.4% · OPM change -2 pp 74% evidence 8.3/25 ROCE 10.1% · OPM 13% 100% evidence 12.5/20 P/E 24× · PEG 0.5 100% evidence 2.3/20 RS sector -15.7% · RS bench -18% · 1Y -18.3%0 of 12 weeks ahead 100% evidence
Exact sum: 16.9 + 8.3 + 12.5 + 2.3 = 40 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
21Insecticides India LtdINSECTICID 38.1/100Mixed-negative evidence87% evidence ASLEEP 10.4/35 Revenue 1.3% · PAT -16.7% · OPM change -1 pp 95% evidence 11.0/25 ROCE 15.8% · OPM 11% 95% evidence 11.3/20 P/E 14.7× · PEG — 50% evidence 5.4/20 RS sector -7% · RS bench -9.9% · 1Y -35.2%5 of 12 weeks ahead 100% evidence
Exact sum: 10.4 + 11 + 11.3 + 5.4 = 38.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
22P I Industries LtdPIIND 37.7/100Mixed-negative evidence94% evidence ASLEEP 4.4/35 Revenue -16.6% · PAT -27.8% · OPM change -5 pp 100% evidence 13.9/25 ROCE 15% · OPM 22% 100% evidence 10.6/20 P/E 35× · PEG 1.71 100% evidence 8.8/20 RS sector -0.9% · RS bench -22.6% · 1Y -36.5%0 of 10 weeks ahead 70% evidence
Exact sum: 4.4 + 13.9 + 10.6 + 8.8 = 37.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
23Best Agrolife LtdBESTAGRO 34.6/100Adverse evidence87% evidence TURNING 7.7/35 Revenue -24.1% · PAT -56.5% · OPM change 8 pp 95% evidence 9.2/25 ROCE 5.2% · OPM 20% 95% evidence 7.0/20 P/E 22.6× · PEG — 50% evidence 10.7/20 RS sector -4.5% · RS bench -7.7% · 1Y -37.1%3 of 12 weeks ahead 100% evidence
Exact sum: 7.7 + 9.2 + 7 + 10.7 = 34.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
24Heranba Industries LtdHERANBA 25.8/100Adverse evidence65% evidence ASLEEP 12.0/35 Revenue 13.1% · PAT -80% · OPM change -2.7 pp 62% evidence 1.2/25 ROCE -1.6% · OPM -7% 95% evidence 10.0/20 P/E — · PEG — 0% evidence 2.6/20 RS sector -25.3% · RS bench -28.1% · 1Y -51.4%0 of 12 weeks ahead 100% evidence
Exact sum: 12 + 1.2 + 10 + 2.6 = 25.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

15 · Frequently asked questions

Frequently asked questions

What is Bayer CropScience Ltd's share price today?

Bayer CropScience Ltd trades at ₹4,046, −28.4% over the past year. The company is valued at ₹18,183 Cr. The stock sits at the very bottom of its 52-week range (₹4,046–₹5,347), −11.0% versus its 200-day average. On the tape, the price is in a downtrend, 46 weeks in. — as of 14 August 2026.

What were Bayer CropScience Ltd's latest quarterly results?

Bayer CropScience Ltd reported revenue of ₹1,835 Cr and net profit of ₹322 Cr for the Jun 26 quarter. Revenue fell 4.2% and profit rose 15.4% year on year. Earnings per share were ₹71.56. The operating margin was 20.0%, 2.0 pp higher than a year earlier. — as of 14 August 2026.

What is Bayer CropScience Ltd's revenue?

Bayer CropScience Ltd reported revenue of ₹1,835 Cr in the Jun 26 quarter, −4.2% year on year. For the full FY26 fiscal year, revenue was ₹5,675 Cr (+3.7%). Over the last 10 years revenue compounded at 7.4% a year. — as of 14 August 2026.

What is Bayer CropScience Ltd's profit?

Bayer CropScience Ltd earned ₹322 Cr of net profit in the Jun 26 quarter, +15.4% year on year — the 6th straight quarter of growth. Full-year FY26 profit was ₹689 Cr. The operating margin ran 20.0% in the latest quarter. — as of 14 August 2026.

What is Bayer CropScience Ltd's market cap?

Bayer CropScience Ltd's market capitalisation is ₹18,183 Cr at a share price of ₹4,046. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 14 August 2026.

What is Bayer CropScience Ltd's P/E ratio?

Bayer CropScience Ltd trades at a P/E of 24.8×, at the cheapest it has been in 10 years, against a long-run median of 39.8×. This is a comparison with the stock's own history, not a value call — as of 14 August 2026.

Does Bayer CropScience Ltd pay a dividend?

Yes — Bayer CropScience Ltd's dividend payout was 98% of profit in FY26, and it recorded a payout in each of its last 14 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 14 August 2026.

Is Bayer CropScience Ltd overvalued?

On its own history, Bayer CropScience Ltd looks cheap: its P/E of 24.8× has been cheaper only 0% of the time in 10 years (long-run median 39.8×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 14 August 2026.

Is Bayer CropScience Ltd growing?

Yes — Bayer CropScience Ltd is growing: latest-quarter revenue −4.2% year on year, profit +15.4%, and the margin +2.0 pp at 20.0%. The 10-year compound rates are 7.4% (revenue) and 8.1% (profit). The earnings engine currently reads: improving — as of 14 August 2026.

How is Bayer CropScience Ltd performing?

Bayer CropScience Ltd is in a downtrend, 46 weeks in. Its latest quarter's revenue fell 4.2% and profit rose 15.4% year on year. Against the NIFTY 500 it has been behind on a trailing-13-week view for 17 weeks. This describes what the data did, not a rating. — as of 14 August 2026.

What stage is Bayer CropScience Ltd in?

Turning around — profit growth swung from −21.3% at the trough to +23.8% off a 5-quarter-old trough, ROCE holding at 29.0%. The read comes from the last 12 quarters of growth (revenue growth −2.8% latest, profit growth +23.8% latest, eps growth +23.6% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 14 August 2026.

Is Bayer CropScience Ltd in an uptrend?

No — the price is in a downtrend (week 46 of stage 4), trading −11.0% versus its 200-day average and at the very bottom of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 14 August 2026.

Is Bayer CropScience Ltd beating the market?

Not lately — on a trailing-13-week view Bayer CropScience Ltd is currently behind the NIFTY 500 (17 weeks and counting; last ahead the week of 2026-05-22), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.4 years the stock moved +14% against the NIFTY 500's +278% — behind the index over the full window. — as of 14 August 2026.

Will Bayer CropScience Ltd's share price go up?

This page publishes no price forecast for Bayer CropScience Ltd. What it measures instead: the share price is ₹4,046, the price is in a downtrend 46 weeks in. Its P/E of 24.8× sits at the 0th percentile of its own 10-year range. — as of 14 August 2026.

Who owns Bayer CropScience Ltd?

Promoters hold 71.4% of Bayer CropScience Ltd, foreign institutions 4.0%, domestic institutions 11.6% and the public 13.0% (latest quarter). No holder moved a full point over the last two years — the register is quiet. — as of 14 August 2026.

Does Bayer CropScience Ltd have too much debt?

No — Bayer CropScience Ltd's debt-to-equity is 0.03, and operating profit covers the interest bill 44×. FY26 borrowings were ₹82.0 Cr against equity of ₹2,966 Cr. The returns on this page are earned, not borrowed — as of 14 August 2026.

What is Bayer CropScience Ltd's capex?

Bayer CropScience Ltd spent ₹267 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹90.0 Cr, with ₹127 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 14 August 2026.

What is Bayer CropScience Ltd's cash flow?

Bayer CropScience Ltd generated ₹1,078 Cr of operating cash flow in FY26 and ₹988 Cr of free cash flow after ₹90.0 Cr of capital spending. Reported profit that year was ₹689 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 14 August 2026.

Is Bayer CropScience Ltd's profit real cash?

Yes — over the last 3 fiscal years, 115% of Bayer CropScience Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹1,078 Cr against reported profit of ₹689 Cr. The cash then goes into a mix of the working-capital cycle and capacity. Cash-flow resolution is annual — as of 14 August 2026.

Where is Bayer CropScience Ltd in its business cycle?

Bayer CropScience Ltd's FY26 operating margin was 15.0%, against a 14-year band of 4.8%–20.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 20.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 14 August 2026.

What could break the Bayer CropScience Ltd story?

The sharpest disagreement: annual EPS moved +21.3% against a −28.4% price move — the market has not yet caught up with the delivery. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 14 August 2026.

Is Bayer CropScience Ltd a stock worth studying right now?

This is not investment advice. The machine read: Bayer CropScience Ltd's earnings have outrun its stock. EPS grew +21.3% in a year against a −28.4% price move. The sharpest open question: whether the price catches up with earnings that have already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 14 August 2026.

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