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 ₹ 9,181 Cr.
- Current Price ₹ 641
- High / Low ₹ 648 / 293
- Stock P/E 23.4
- Book Value ₹ 91.1
- Dividend Yield 1.72 %
- ROCE 33.4 %
- ROE 33.3 %
- Face Value ₹ 2.00
Pros
- Company has delivered good profit growth of 39.9% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 28.3%
- Company has been maintaining a healthy dividend payout of 53.2%
Cons
- Stock is trading at 7.04 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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
1,116 | 1,129 | 1,148 | 1,239 | 1,336 | 1,567 | 1,422 | 1,533 | 1,958 | 2,332 | 2,768 | 3,213 | |
951 | 1,027 | 1,002 | 1,096 | 1,157 | 1,405 | 1,300 | 1,354 | 1,686 | 1,966 | 2,340 | 2,601 | |
Operating Profit | 165 | 102 | 146 | 144 | 179 | 161 | 122 | 178 | 272 | 366 | 428 | 611 |
OPM % | 15% | 9% | 13% | 12% | 13% | 10% | 9% | 12% | 14% | 16% | 15% | 19% |
9 | 53 | 11 | 32 | 18 | 10 | 25 | 9 | 5 | 14 | 32 | 43 | |
Interest | 19 | 8 | 3 | 2 | 2 | 4 | 3 | 4 | 5 | 13 | 21 | 26 |
Depreciation | 32 | 34 | 35 | 33 | 28 | 29 | 33 | 34 | 48 | 56 | 76 | 94 |
Profit before tax | 122 | 113 | 119 | 141 | 167 | 138 | 111 | 150 | 224 | 311 | 363 | 534 |
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 | |
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 |
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: | 16% |
Compounded Profit Growth | |
---|---|
10 Years: | 21% |
5 Years: | 40% |
3 Years: | 37% |
TTM: | 42% |
Stock Price CAGR | |
---|---|
10 Years: | 30% |
5 Years: | 75% |
3 Years: | 94% |
1 Year: | 86% |
Return on Equity | |
---|---|
10 Years: | 19% |
5 Years: | 24% |
3 Years: | 28% |
Last Year: | 33% |
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 | 970 | |
Total Liabilities | 944 | 819 | 956 | 969 | 1,197 | 1,195 | 1,089 | 1,187 | 1,502 | 1,855 | 1,982 | 2,846 |
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 | 2,287 | |
Total Assets | 944 | 819 | 956 | 969 | 1,197 | 1,195 | 1,089 | 1,187 | 1,502 | 1,855 | 1,982 | 2,846 |
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 | 107 | 106 | 118 | 116 | 116 | 119 | 142 | 134 | 139 | 166 | 131 | 149 |
ROCE % | 19% | 12% | 18% | 17% | 21% | 17% | 13% | 19% | 24% | 26% | 27% | 33% |
Documents
Announcements
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Shareholder Meeting / Postal Ballot-Scrutinizer"s Report
6h - Postal ballot passed appointing Mr. Sarni as director and whole-time director; commission approved for Mr. Patel.
- Shareholder Meeting / Postal Ballot-Outcome of Postal_Ballot 6h
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Closure of Trading Window
26 Jun - Trading window closed from July 1, 2025, till 48 hours post Q1 unaudited results announcement.
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Announcement under Regulation 30 (LODR)-Change in Management
21 Jun - Resignation of GM (IR & HR) Robert Christy effective June 22, 2025.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
30 May - Newspaper Advertisement of Postal Ballot Notice.
Annual reports
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Financial Year 2024
from bse
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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
from nse
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Financial Year 2013
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Financial Year 2012
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Financial Year 2012
from nse
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]