Bayer Cropscience hit a new high on the back of its very good performance for Q1FY15. It recorded a 24% (yoY) growth in its net profit at Rs.109 crore mainly on account of higher sales – net sales for the quarter rose by a smart 21% at Rs.1172 crore. Keeping a tight control on costs too helped as its operating profit also come in pretty strong at Rs.1482 crore, up 26%.

The company is the Indian subsidiary of Bayer Germany which holds 68.96% stake and like a typical MNC, has negligible debt, a tight working capital cycle and strong reserves at Rs.1706 crore, with cash balance of around Rs.500 crore. FIIs hold 7.92% and DIIs hold 11.68%. Q2 is expected to be much better than Q1 based on the late arrival of monsoon and the ensuing sowing season.