Bayer

Bayer CropScience Limited
Unaudited Financial Results for the Quarter ended
30th September, 2007

Rs. in Lacs

Quarter Ended

Nine Month Ended

Year Ended

Particulars

30th September, 2007

30th September, 2006

30th
September,
2007

30th
September,
2006

31st December
2006
(Audited)

Income

Net Sales/ Income from Operations

36,801

27,282

83,122

53,520

77,574

Other Income

498

318

1,565

1,487

3,273

Total Income

37,299

27,600

84,687

55,007

80,847

Expenditure

(a) Decrease/(Increase) in Stock in Trade and Work in Progress

2,001

(438)

(3,324)

(4,476)

591

(b) Consumption of Raw Materials

7,475

9,916

19,235

23,211

31,119

12,022

6,600

37,076

10,985

13,344

(d) Employees Cost

2,325

1,699

6,470

5,043

6,739

(e) Depreciation

513

552

1,536

1,631

2,186

(f) Impairment Loss on Fixed Assets

683

(g) Other Expenditure

5,108

4,333

14,498

12,253

16,505

Total Expenditure

29,444

22,662

75,491

48,647

71,167

Interest

103

201

288

518

733

Exceptional Items

2,780

839

Profit From Ordinary Activities Before Tax

4,972

4,737

8,069

5,842

8,905

Tax Expense
(including Deferred Tax and Fringe Benefit Tax)

(1,663)

(1,679)

(2,431)

(2,134)

(3,220)

Net Profit From Ordinary Activities After Tax

3,309

3,058

5,638

3,708

5,685

Paid up Equity Share Capital (Face Value Rs. 10)

3,950

Reserves excluding Revaluation Reserve as per Balance sheet of previous accounting year

29,193

Earning Per Share (basic & diluted) (not annualised)

8.38

7.74

14.27

9.39

14.39

Aggregate of non-promoters shareholdings

Number of shares

11,412,085

Percentage of shareholding (%)

28.89%

Notes:

1. The above results have been reviewed and recommended by the Audit Committee and approved by the Board of Directors of the Company at its meeting held on 30th October, 2007 and the statutory auditors have carried out a limited review of the results for the period ended 30th September, 2007.

2. In accordance with the past practice consistently followed, Sales for the nine months ended 30th September, 2007 are net of estimated returns of Rs.1,260 lacs (Jan-September 2006 Rs. 2,094 lacs), in respect of seasonal sales which in the Management’s opinion, may need to be reviewed dependent on future circumstances. Further, sales returns are accounted at actuals at the year end.

3.Exceptional Items for -
(a) the quarter and nine months ended 30th September, 2007 represents Voluntary Retirement Expenditure offerred to 109 employees at Thane.
(b) the nine months ended 30th September, 2007 also include profit of Rs.1,555 lacs on sale of equity shares in Bayer Diagnostics India Limited, pursuant to the global divestment of Diagnostics business by Bayer AG to Siemens AG and profit of Rs. 385 lacs on sale of equity shares in Bayer Polychem (India) Limited, a wholly owned subsidiary.
(c) the period Jan - Dec 2006 represents Voluntary Retirement Expenditure.

4. The Company has only one reportable business segment, i.e. “Agri Care”.

5. The status of Investor complaints received and disposed off during the quarter ended 30th September, 2007 is :

Complaints pending at the beginning of the quarter	0
Complaints received during the quarter	0
Complaints attended during the quarter	0
Complaints lying unresolved at the end of the quarter	0

6. Previous period's figures have been regrouped wherever necessary.

Place: Mumbai
Date: 30th October, 2007

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By Order of the Board

Christian Kunze
Director