Bayer CropScience Limited. — Interim / Quarterly Report 2022

Aug 13, 2021

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August 13, 2021

The General Manager Department of Corporate Services BSE Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai - 400 001

COMPANY CODE : 506285 SCRIP CODE : BAYERCROP

Dear Sir / Madam,

Sub.: Unaudited financial results of the Company for the quarter ended June 30, 2021 and Limited Review Report thereon

Pursuant to Regulation 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are pleased to furnish the unaudited financial results of the Company for the quarter ended June 30, 2021 and the Limited Review Report thereon from the Statutory Auditors, Deloitte Haskins & Sells LLP (ICAI Firm Registration No. 117366W/W100018).

Bayer CropScience Ltd. CIN: L24210MH1958PLC011173

Registered and Corporate Office: Bayer House Central Avenue Hiranandani Estate Thane (West) – 400 607 Maharashtra, India

Tel : +91 22 2531 1234 Fax : +91 22 2545 5063 www.bayer.in www.cropscience.bayer.com

Kindly acknowledge receipt.

Thanking You.

Yours faithfully, for Bayer CropScience Limited

Digitally signed by NIKUNJKUMAR JAYSUKHLAL SAVALIYA DN: c=IN, st=Gujarat, 2.5.4.20=f4b6303c6a9fe05eb04e62759179373cbcf4b728c73ed8032

NIKUNJKUMAR DN: c=IN, st=Gujarat, 2.5.4.20=f4b6303c6a9fe05eb04e62759179373cbcf4b728c73ed8032 294e09b9e3e0c98, postalCode=390024, street=102 TITHI FLATS, JAYSUKHLAL BHADRAN NAGAR, NEW SAMA ROAD, CHHANI RD, VADODARA, serialNumber=d3cad62ac6fcdd76e7d78a49dee85262351ff6c69d1c3 b84d7669f10a495714a, o=Personal, cn=NIKUNJKUMAR JAYSUKHLAL SAVALIYA SAVALIYA, pseudonym=edc1463c7f2e505c0cb80b5170d37433 Date: 2021.08.13 21:04:13 +05'30'

Nikunjkumar Savaliya

Company Secretary and Compliance Officer

Encl.: As above

BAYER CROPSCIENCE LIMITED

Registered Office:

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Bayer House, Central Avenue, Hiranandani Estate, Thane - 400 607 CIN L24210MH1958PLC011173

PART I ₹ in Millions	PART I ₹ in Millions	PART I ₹ in Millions	PART I ₹ in Millions	PART I ₹ in Millions
STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR THEQUARTER ENDED JUNE 30, 2021
PARTICULARS	Quarter Ended			Year Ended
	30.06.2021	31.03.2021	30.06.2020	31.03.2021
	UNAUDITED	UNAUDITED	UNAUDITED	AUDITED
Revenue from Operations Other Income Total Income Expenses Cost of Materials Consumed Purchases of Stock-in-Trade Changes in Inventories of Finished Goods, Work-in-Progress and Stock-in-Trade Employee Benefits Expense Finance Costs Depreciation and Amortisation Expense Other Expenses Total Expenses Profit Before Exceptional Items and Tax Add/ (Less): Exceptional Items(Note 3) - Employee separation expenses Profit Before Tax Tax Expense/ (Credit) (Note 4) - Current Tax - Deferred Tax Total Tax Expense Profit for the period/ year Other Comprehensive Income Items that will not be reclassified to profit or loss: - Remeasurement of Defined Benefit Obligation - Tax on remeasurement of Defined Benefit Obligation Total Other Comprehensive Income Total Comprehensive Income for the period/ year Paid up Equity Share Capital (Face Value ₹ 10/-) Reserves (excluding Revaluation Reserve as per Balance Sheet) Earnings per share (basic and diluted) (*not annualised) in ₹	14,159 148	7,337 159	12,278 149	42,613 638
	14,307	7,496	12,427	43,251
	7,599 871 (608) 1,070 25 146 2,004	6,705 308 (2,947) 967 35 216 1,477	5,994 386 86 938 27 237 1,621	24,840 1,398 (1,779) 3,622 126 735 6,415
	11,107	6,761	9,289	35,357
	3,200 -	735 63	3,138 (12)	7,894 51
	-	63	(12)	51
	3,200 640 23	798 190 (11)	3,126 556 53	7,945 2,939 75
	663	179	609	3,014
	2,537 4 (1)	619 75 (27)	2,517 - -	4,931 32 (16)
	3	48	-	16
	2,540	667	2,517	4,947
	449 - 56.45*	449 - 13.77*	449 - 56.01*	449 25,054 109.72

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BAYER CROPSCIENCE LIMITED

Registered Office:

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Bayer House, Central Avenue, Hiranandani Estate, Thane - 400 607 CIN L24210MH1958PLC011173

NOTES:

1. The Company has only one reportable business segment, i.e. "Agri Care". The Company’s business is seasonal in nature and hence quarterly figures are not necessarily representative of the full year's performance.

2. The figures for the quarter ended March 31, 2021, are the balancing figures between audited figures for the financial year ended March 31, 2021 and the unaudited published year to date figures upto the third quarter of the previous financial year, which were subjected to limited review.

3. Exceptional item consists of expense in relation to separation of employees arising from restructuring measures due to amalgamation of Monsanto India Limited with Bayer CropScience Limited and Bayer 2022 global efficiency program.

4. In respect of certain past years, with a view to give certainty and effectively close long pending disputes and litigations under the Income Tax Act, 1961, the Company had filed an application under The Direct Tax Vivad Se Vishwas Act, 2020 (VSV Act) and related rules. Consequent to tax authority's order under VSV Act in December 2020, an additional tax expense of ₹ 1,272 Million (net) was recognized in year ended March 2021. The effect of this tax expense on the Profit After Tax for the said period was disclosed below:

	₹ in Millions
PARTICULARS	Year Ended
	31.03.2021
Profit after Tax	4,931
Add: Current tax related topriorperiod arisingunder VSV Act	1,272
Profit after Tax, before Tax Expense related to VSV Act	6,203

5. The Management has considered the possible effects, if any, that may result from COVID-19 pandemic on the carrying amounts of current assets after considering internal and external sources of information as at the date of approval of these financial results. Given the uncertainties associated with pandemic's nature and duration, the actuals may differ from the estimates considered in these financial statements.

6. 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 August 13, 2021. The above results have been subjected to limited review by the Statutory Auditors of the Company.

By Order of the Board

Digitally signed by ROLF AXEL HOFFMANN DN: c=IN, st=Maharashtra, 2.5.4.20=21b32b4e9fde7c1e843d1716dce680a327837ca ROLF AXEL 3c54a8cba7edc21a6ab80563f, postalCode=400076, street=BAYER HOUSE CENTRAL AVENUE HIRANANDANI ESTATE THANE WEST, pseudonym=40ccd669c7192a5aae0275d42228f3fa, serialNumber=d56ff2596ffc3f8d790c63002e90341e7d6f HOFFMANN 9c66f49a76e457a4c7aba5ac744c, o=Personal, cn=ROLF AXEL HOFFMANN Date: 2021.08.13 20:53:55 +05'30'

Rolf Hoffmann

Place: Obermaiselstein, Germany Date: August 13, 2021

Executive Director & Chief Financial Officer DIN 08460583

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INDEPENDENT AUDITOR’S REVIEW REPORT ON REVIEW OF INTERIM FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF BAYER CROPSCIENCE LIMITED

1. We have reviewed the Unaudited Financial Results of BAYER CROPSCIENCE LIMITED (“the Company”), for the quarter ended June 30, 2021 included in the accompanying Statement of Unaudited Financial Results (“the Statement”), being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

2. This Statement, which is the responsibility of the Company’s Management and approved by the Company’s Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 “Interim Financial Reporting” (“Ind AS 34”), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.

3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 ‘Review of Interim Financial Information Performed by the Independent Auditor of the Entity’, issued by the Institute of Chartered Accountants of India (ICAI). A review of interim financial information consists of making inquiries, primarily of the Company’s personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

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1. Based on our review conducted as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For DELOITTE HASKINS & SELLS LLP Chartered Accountants (Firm’s Registration No. 117366W/W-100018)

Sampada Digitally signed by Sampada Narvankar Narvankar Date: 2021.08.13 21:00:46 +05'30' Sampada S Narvankar

(Partner) (Membership No. 102911)

(UDIN: 21102911AAAADH9531 )

Place: MUMBAI Date: August 13, 2021