• NIFTY 11,588.35  (-0.63% )  
  • SENSEX 38,963.84  (-0.85%)  
  • USDINR 70.99  (-0.31%)  
  • GOLD 37,884.00  (-0.02%)
  •  
  • Go
News
  •         News Details
Bayer Crop Science
(16:14, 24 Jul 2019)
The company held its AGM on 24 July 19 and was addressed by Mr. Pankaj Patel Chairman

Key Highlights

The company launched 4 products in seed segment and 6 new products in insecticides segment in FY 19. Another 8-10 products are under pipeline which will be launched in FY 20.

Exports account for around 10% of total sales as compared to around 18-20% in the past due to lower demand in the international market. Not much encouraging environment in international market.

The new offerings in Crop Protection include Regent Gold, an insecticide for controlling vector Thrips in cotton; VELUM prime, a nematicide for healthy plants; Infinito, a fungicide for control of late blight in potatoes; Ambition, a crop supplement for enhancing crop performance; EverGol xtend, a fungicidal seed treatment product to control seed & seedling rot diseases; Alion plus, a herbicide for foliar and pre-emergence control of weeds in tea plantations and COUNCIL active, an early post-emergent herbicide for transplanted as well as wet DSR rice.

The proposed merger between Monsanto and Bayer Crop is underway and subject to regulatory clearance the same will be effective from April 20 onwards.

The company launched new offering from environment science which is an innovative spray for mosquitoes. This launch also represents Bayer's first product introduction in the space-spray segment in 20 years.

Deferred monsoon led to delayed sowing season which affected June 19 quarter. This monsoon is very important given last year also monsoon was below normal and uneven which affected Kharif season last year. While the monsoon is picking up in July, its too early to celebrate.

Seeds business now accounts for around 20% of total revenues. Expects the business should continue to grow as company plans to add more and more hybrid and value added seeds.

The company imports around 30% of its total raw material requirements. These are traded products which the company imports from the Parent. The settlement on rupee and other expenses normally happens at the end of every year. Immediate passing of the cost may not happen.

Overall FY 20 should see improvements and after dismal June 19 quarter, things should improve. However environment continues to remain challenging both locally and globally.

Powered by Capital Market - Live News