The company did not have a very good performance for Q4FY13. YoY, the picture looks good, with net sales rising 55% at Rs.367 crore, with net profit coming in at Rs.72 crore v/s net loss of Rs.22 crore for Q4FY12. But sequentially, things look bad with topline falling 34% and net profit declining 92%. But being an agriculture company, business being seasonal, the YoY comparison makes more sense. And for pesticide making companies, the first half is usually the best and Q2 is seasonally the best after which the numbers kind of start tapering off.  

In 2010, the company made an agreement to sell off its 100 acre property at Thane in Maharashra to Agile Real Estate. This was sold for a total consideration of Rs.1250 crore  and they have in Q3 received the full and final payment. As at 31^st March 2013, the company is sitting on cash of Rs.971 crore. The market had thought that the company would give out a fat dividend as it does not have any major capex planned out in the immediate future. But the market was disappointed as the company declared a dividend of Rs.5/share compared to Rs.4.50/share last fiscal. This will result in an outgo of Rs.20 crore. the total chunk of payout here.  The company is the Indian subsidiary of Bayer Germany which holds 71% stake and like a typical MNC, has negligible debt, a tight working capital cycle and strong reserves at Rs.1892 crore. Once again, based on the seasonal demand, the coming two quarters would be good for the company.