Banco Products (India) Ltd
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]
- Market Cap ₹ 11,696 Cr.
- Current Price ₹ 818
- High / Low ₹ 880 / 293
- Stock P/E 27.0
- Book Value ₹ 91.1
- Dividend Yield 1.35 %
- ROCE 32.4 %
- ROE 32.2 %
- Face Value ₹ 2.00
Pros
- Company has delivered good profit growth of 38.9% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 27.9%
- Company has been maintaining a healthy dividend payout of 53.2%
Cons
- Stock is trading at 8.98 times its book value
- Company might be capitalizing the interest cost
* 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1,116 | 1,129 | 1,148 | 1,239 | 1,336 | 1,567 | 1,422 | 1,533 | 1,958 | 2,332 | 2,768 | 3,213 | 3,379 | |
951 | 1,027 | 1,002 | 1,096 | 1,157 | 1,405 | 1,300 | 1,354 | 1,686 | 1,966 | 2,340 | 2,601 | 2,718 | |
Operating Profit | 165 | 102 | 146 | 144 | 179 | 161 | 122 | 178 | 272 | 366 | 428 | 611 | 660 |
OPM % | 15% | 9% | 13% | 12% | 13% | 10% | 9% | 12% | 14% | 16% | 15% | 19% | 20% |
9 | 53 | 11 | 32 | 18 | 10 | 25 | 9 | 5 | 14 | 32 | 43 | 55 | |
Interest | 19 | 8 | 3 | 2 | 2 | 4 | 3 | 4 | 5 | 13 | 21 | 26 | 26 |
Depreciation | 32 | 34 | 35 | 33 | 28 | 29 | 33 | 34 | 48 | 56 | 76 | 94 | 99 |
Profit before tax | 122 | 113 | 119 | 141 | 167 | 138 | 111 | 150 | 224 | 311 | 363 | 534 | 590 |
Tax % | 26% | 22% | 25% | 31% | 30% | 50% | 31% | 24% | 32% | 24% | 25% | 27% | |
90 | 88 | 90 | 97 | 117 | 69 | 77 | 114 | 152 | 236 | 271 | 392 | 433 | |
EPS in Rs | 6.28 | 6.13 | 6.29 | 6.80 | 8.17 | 4.83 | 5.36 | 7.95 | 10.66 | 16.47 | 18.98 | 27.39 | 30.25 |
Dividend Payout % | 16% | 24% | 37% | 66% | 61% | 83% | 187% | 13% | 94% | 67% | 53% | 40% |
Compounded Sales Growth | |
---|---|
10 Years: | 11% |
5 Years: | 18% |
3 Years: | 18% |
TTM: | 20% |
Compounded Profit Growth | |
---|---|
10 Years: | 20% |
5 Years: | 39% |
3 Years: | 36% |
TTM: | 60% |
Stock Price CAGR | |
---|---|
10 Years: | 28% |
5 Years: | 78% |
3 Years: | 106% |
1 Year: | 126% |
Return on Equity | |
---|---|
10 Years: | 19% |
5 Years: | 24% |
3 Years: | 28% |
Last Year: | 32% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
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 | 574 | 605 | 674 | 705 | 793 | 818 | 696 | 814 | 967 | 987 | 1,037 | 1,274 |
172 | 36 | 36 | 38 | 34 | 40 | 92 | 14 | 115 | 418 | 423 | 573 | |
183 | 164 | 232 | 211 | 356 | 322 | 287 | 344 | 405 | 435 | 508 | 868 | |
Total Liabilities | 944 | 819 | 956 | 969 | 1,197 | 1,195 | 1,089 | 1,187 | 1,502 | 1,855 | 1,982 | 2,744 |
243 | 227 | 221 | 192 | 191 | 184 | 193 | 190 | 297 | 359 | 454 | 516 | |
CWIP | 12 | 11 | 3 | 4 | 13 | 13 | 3 | 1 | 15 | 18 | 10 | 5 |
Investments | 71 | 1 | 1 | 91 | 24 | 69 | 9 | 1 | 1 | 0 | 0 | 38 |
618 | 581 | 731 | 682 | 969 | 929 | 883 | 995 | 1,190 | 1,477 | 1,518 | 2,185 | |
Total Assets | 944 | 819 | 956 | 969 | 1,197 | 1,195 | 1,089 | 1,187 | 1,502 | 1,855 | 1,982 | 2,744 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
131 | 85 | 68 | 90 | 99 | 62 | 52 | 157 | 57 | -41 | 458 | 164 | |
-42 | 88 | -17 | -59 | -22 | -52 | 149 | -59 | -104 | -23 | -114 | -73 | |
-82 | -136 | -6 | -61 | -68 | -49 | -153 | -78 | -11 | 59 | -339 | -89 | |
Net Cash Flow | 7 | 36 | 46 | -30 | 9 | -39 | 49 | 20 | -58 | -6 | 5 | 3 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
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 | 70 | 57 | 70 | 60 | 70 | 63 | 75 | 64 | 60 | 65 | 63 | 69 |
Inventory Days | 172 | 152 | 190 | 171 | 217 | 191 | 212 | 234 | 225 | 271 | 210 | 289 |
Days Payable | 57 | 39 | 71 | 51 | 90 | 102 | 99 | 118 | 95 | 95 | 90 | 128 |
Cash Conversion Cycle | 184 | 170 | 189 | 180 | 197 | 152 | 188 | 180 | 191 | 241 | 183 | 231 |
Working Capital Days | 71 | 103 | 107 | 105 | 108 | 111 | 120 | 132 | 133 | 123 | 102 | 106 |
ROCE % | 19% | 12% | 18% | 17% | 21% | 17% | 13% | 19% | 24% | 26% | 27% | 32% |
Documents
Announcements
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Clarification On Movement In The Price Of The Security.
16h - 8 Oct 2025: Company states disclosures complete; price movement market-driven; management not involved.
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Clarification sought from Banco Products (India) Ltd
1d - Exchange has sought clarification from Banco Products (India) Ltd on October 07, 2025 with reference to significant movement in price, in order to ensure that …
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
2d - Certificate under Regulation 74(5) of SEBI (DP) Regulations, 2018 for the quarter ended 30th September, 2025.
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Announcement under Regulation 30 (LODR)-Change in Management
4 Oct - Mahendra Nath Mahato appointed DGM – Purchase effective 4 October 2025; ~18 years' purchase/vendor experience.
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Announcement under Regulation 30 (LODR)-Change in Management
1 Oct - GM Purchase Bharat Parekh resigned effective 30 September 2025 after business hours.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2013
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Financial Year 2012
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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]