Bayer

Bayer CropScience Limited
AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31st DECEMBER, 2004

SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED
(UNDER CLAUSE 41 OF THE LISTING AGREEMENT)

Rs. in lacs

Rs. in Lacs

PARTICULARS

NINE MONTH
ENDED
30TH SEPTEMBER
2004

QUARTER ENDED

31ST
DECEMBER

YEAR ENDED

31ST
DECEMBER

PARTICULARS

NINE MONTH
ENDED
30TH SEPTEMBER
2004

QUARTER ENDED

31ST
DECEMBER

YEAR ENDED

31ST
DECEMBER

2004

2003

2004
(AUDITED)

2003 (AUDITED)

2004

2003

2004
(AUDITED)

2003
(AUDITED)

Sales (Net of Excise Duty) and Other Operating Income

49,158

24,612

42,809

73,770

87,230

1. Segment Revenue

Other Income

756

1,861

674

2,617

954

a. Segment - Pesticides

49,158

24,612

41,093

73,770

72,867

Total Income

49,914

26,473

43,483

76,387

88,184

b. Segment- Rubber

1,118

9,632

Total Expenditure

c. Others

598

4,732

a)(Increase)/Decrease in Stock

(4,044)

2,408

3,129

(1,636)

3,067

Total

49,158

24,612

42,809

73,770

87,230

(b) Consumption of Raw Materials

23,127

8,419

15,418

31,546

32,151

Less: Inter segment revenue

–

3,568

2,769

4,808

6,337

11,098

Sales & Other Operating Income

49,158

24,612

42,809

73,770

87,230

(d) Employee Cost

4,576

1,948

2,066

6,524

6,532

2. Segment Results

(e) Other Expenditure (Net of Recoveries)

15,068

9,697

12,678

24,765

22,310

a. Segment - Pesticides

5,741

508

3,330

6,249

9,848

Total

42,295

25,242

38,099

67,537

75,158

b. Segment- Rubber

(54)

Interest

582

534

588

1,116

1,973

c.Others

(19)

Depreciation

1,878

724

1,793

2,602

2,955

Total

5,741

508

3,439

6,249

9,784

PROFIT BEFORE PRIOR PERIOD, EXTRA -
ORDINARY ITEMS AND TAXATION

5,159

(26)

3,003

5,133

8,098

Add/(Less) :

Add/(Less): Prior Period Items

187

(350)

I. Interest

(582)

(534)

(588)

(1,116)

(1,973)

Add/(Less): Extraordinary Items

(45)

(35)

(735)

(80)

(3,028)

II. Other
un-allocable income/(expenses) (net)

152

287

PROFIT FOR THE PERIOD BEFORE TAXATION

5,114

126

2,268

5,240

4,720

Total Profit Before Extra-Ordinary Items

5,159

(26)

3,003

5,133

8,098

Add/(Less): Provision For Current Tax

(1,630)

(680)

(1,438)

(2,310)

(3,331)

Add/(Less): Provision For Deferred Tax

(55)

(239)

738

(294)

2,136

3. Capital Employed

PROFIT FOR THE PERIOD AFTER TAXATION

3,429

(793)

1,568

2,636

3,526

(Segment Assets - Segment Liabilities)

Paid up Equity Share Capital

3,950

a. Segment - Pesticides

36,119

26,181

27,468

26,181

27,468

Reserves & Surplus

22,884

20,247

b. Segment- Rubber

Weighted Average Number of Equity Shares

39,498,747

c.Others

3,337

Earnings Per Share before Prior Period
and Extraordinary Item after Taxation- Basic
and Diluted (Net of Tax)

8.87

2.39

6.51

6.48

17.48

d. Unallocated Corporate

8,848

Total

36,119

26,181

39,653

26,181

39,653

Earnings Per Share after Prior Period
and Extraordinary Item after Taxation- Basic
and Diluted (Net of Tax)

8.68

(2.01)

3.97

6.67

8.93

Aggregate of non-promoters
shareholdings

Number of shares

11,412,032

11,371,032

11,412,032

11,371,032

Percentage of shareholding (%)

28.89

28.79

28.89

28.79

Notes:
1. The above results have been reviewed and recommended by the Audit Committee and approved by the Board of Directors at its meeting held
on 24th March, 2005.

2. The Board of Directors have recommended a dividend of 22% for the year ended 31st December, 2004 (Previous year 22%) amounting to
Rs. 869 (lacs). Dividend per share is Rs. 2.20 for 39,498,747 Equity shares of Rs. 10 each.

3. Exceptional items for the year ended 31st December, 2004 represent Voluntary Retirement Costs.

4. The previous year’s figures are not comparable as non-cropscience businesses of the Company comprising of Healthcare, Polymers, Chemicals
and related businesses were transferred to Bayer Polychem (India) Limited, 100% subsidiary of the Company with effect from November 1, 2003.

5. Consequent to the transfer of non-cropscience business to the wholly owned subsidiary Bayer Polychem (India) Limited, the Company has only one
segment in the current quarter i.e. “Pesticides”. Hence no Segment data is required to be provided for the current quarter.

6. The status of Investor complaints received and disposed off during the quarter ended 31st December, 2004 is as follows:

Complaints pending at the beginning of the quarter	Nil
Complaints received during the quarter	15
Complaints attended during the quarter	15
Complaints lying unresolved at the end of the quarter	Nil

7. The Company had during the previous years, taken on lease, certain computers of aggregate value Rs. 53,275 (’000s) and treated the same as
an Operating Lease. Upon the review of the terms of the lease, the Company has decided to treat these leases as Finance Lease.
Consequently, principal component of lease rentals charged to the Profit and Loss Account in the previous years of Rs. 26,732 (’000s) and
depreciation of Rs. 16,284 (’000s) upto December 31, 2003 in respect of these computers have been disclosed as Prior Period Items.

8. (Increase)/Decrease in stocks and Cost of Traded Goods Sold for the year ended 31st December, 2004 include Rs. 1,236 lacs and Rs. 544 lacs
on account of write off/write downs in the carrying values of Finished Goods and Traded Goods respectively. Write offs/write downs in the
carrying values of Finished Goods for the year ended 31st December 2003 was Rs. 271 lacs.

9. The name of the Company has been changed from Bayer (India) Limited to Bayer CropScience Limited with effect from 5th April 2004.

10. Previous Period’s figures have been regrouped wherever necessary.

Place: Mumbai
Date: 24th March, 2005.

Top

By Order of the Board

S. Gerlich
Managing Director