Banco Products (India) Ltd

Banco Products (India) Ltd

₹ 571 1.96%
30 May - close price
About

Banco Products (India) Ltd manufactures and supplies engine cooling modules and systems for automotive and industrial applications in both the domestic and international markets. It was Incorporated in 1961, promoted by Mr. Mehul K. Patel who has more than 40 years of experience in the automotive industry [1]

Key Points

Product Portfolio
The company’s product portfolio comprises engine cooling modules such as radiators, charged air coolers, fuel coolers, oil coolers, AC condensers, deaeration plastic tanks, metal-layered gaskets, and hybrid elastomeric molded gaskets. [1]

  • Market Cap 8,161 Cr.
  • Current Price 571
  • High / Low 603 / 259
  • Stock P/E 30.6
  • Book Value 59.5
  • Dividend Yield 1.93 %
  • ROCE 39.1 %
  • ROE 33.4 %
  • Face Value 2.00

Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 32.2% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 34.2%
  • Company has been maintaining a healthy dividend payout of 59.7%

Cons

  • Stock is trading at 9.59 times its book value
  • Tax rate seems low
  • Earnings include an other income of Rs.144 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025
227 252 261 237 254 272 242 233 264 257 282 257 308
197 208 223 196 208 215 200 194 222 212 231 214 251
Operating Profit 29 44 38 41 46 57 42 39 42 45 51 43 57
OPM % 13% 17% 15% 18% 18% 21% 17% 17% 16% 17% 18% 17% 19%
3 3 110 8 12 72 5 37 28 1 6 35 102
Interest 0 0 0 0 0 0 0 0 1 2 0 0 0
Depreciation 5 5 5 5 5 6 6 6 6 6 6 7 7
Profit before tax 27 41 143 44 53 124 41 71 62 38 51 71 152
Tax % 30% 18% 6% 25% 15% 11% 25% 14% 14% 26% 25% 11% 10%
19 34 134 33 45 110 31 61 53 28 38 63 137
EPS in Rs 1.34 2.36 9.36 2.31 3.14 7.72 2.15 4.25 3.73 1.94 2.65 4.42 9.60
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
437 420 493 510 619 736 598 654 795 1,004 1,011 1,105
357 356 400 417 525 635 524 537 694 834 831 909
Operating Profit 80 64 93 93 94 101 74 117 101 170 181 196
OPM % 18% 15% 19% 18% 15% 14% 12% 18% 13% 17% 18% 18%
34 12 32 61 70 92 46 8 29 132 142 144
Interest 14 6 2 0 0 1 0 1 0 0 1 3
Depreciation 17 16 19 17 17 18 20 20 20 21 24 26
Profit before tax 83 53 104 137 147 174 101 104 110 281 297 311
Tax % 20% 22% 21% 20% 19% 29% 31% 23% 22% 13% 14% 14%
66 42 82 110 120 123 70 80 86 246 255 266
EPS in Rs 4.64 2.91 5.74 7.67 8.37 8.60 4.86 5.60 5.99 17.17 17.85 18.61
Dividend Payout % 22% 51% 40% 59% 60% 47% 206% 18% 167% 64% 56% 59%
Compounded Sales Growth
10 Years: 10%
5 Years: 13%
3 Years: 12%
TTM: 9%
Compounded Profit Growth
10 Years: 21%
5 Years: 32%
3 Years: 46%
TTM: 4%
Stock Price CAGR
10 Years: 28%
5 Years: 77%
3 Years: 87%
1 Year: 92%
Return on Equity
10 Years: 23%
5 Years: 27%
3 Years: 34%
Last Year: 33%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 14 14 14 14 14 14 14 14 14 14 14 29
Reserves 376 395 440 540 601 649 521 601 671 716 728 822
114 23 2 2 2 3 3 3 0 0 5 7
65 70 100 60 123 89 75 116 99 113 108 220
Total Liabilities 569 502 556 618 741 755 613 733 785 844 855 1,078
124 123 120 112 112 131 128 126 134 150 153 164
CWIP 7 3 0 1 7 2 2 0 6 2 8 2
Investments 198 172 163 253 186 215 155 147 151 155 160 221
240 204 272 251 435 407 328 460 493 536 534 691
Total Assets 569 502 556 618 741 755 613 733 785 844 855 1,078

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
89 61 59 58 24 47 59 59 1 68 154 95
-3 63 31 -31 35 33 182 -38 -41 127 93 66
-82 -103 -45 -70 -59 -79 -194 -1 -15 -201 -244 -160
Net Cash Flow 4 21 45 -42 -0 -0 47 21 -54 -6 3 1

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 77 65 73 68 67 65 89 94 89 84 73 89
Inventory Days 111 122 112 121 132 100 102 148 142 146 157 154
Days Payable 53 35 53 50 66 57 57 90 55 50 50 56
Cash Conversion Cycle 135 151 132 139 133 108 134 153 176 180 180 186
Working Capital Days 96 82 78 101 82 92 116 133 148 143 143 129
ROCE % 19% 12% 24% 25% 25% 26% 16% 18% 17% 40% 40% 39%

Shareholding Pattern

Numbers in percentages

Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025
67.88% 67.88% 67.88% 67.88% 67.88% 67.88% 67.88% 67.88% 67.88% 67.88% 67.88% 67.88%
0.37% 0.74% 1.15% 1.88% 1.87% 2.07% 2.35% 3.00% 3.21% 3.08% 3.76% 3.88%
0.02% 0.02% 0.02% 0.03% 0.02% 0.02% 0.08% 0.13% 0.14% 0.18% 0.21% 0.17%
31.73% 31.37% 30.95% 30.20% 30.23% 30.04% 29.69% 28.97% 28.77% 28.86% 28.15% 28.07%
No. of Shareholders 35,75543,25743,18040,57140,55048,39947,75151,17252,82358,79560,52767,945

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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