Bayer Cropscience Q3 Review - Giving Away The Gains Of Hay Days: Prabhudas Lilladher
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Prabhudas Lilladher Report
Bayer Cropscience Ltd. reported disappointing third quarter results.
While topline was in-line with our estimates at Rs 9.2 billion with 8% growth (our estimate Rs 9.3 billion), gross margin contracted by sharp 542 basis points due to lower sales of high margin corn seeds and product repositioning (downward price revision) of few brands to arrest the loss of market share.
Better realisations of round-up (Glyphosate) too failed to arrest decline in gross margins.
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