Banco Products (India) Ltd

₹ 1,115 -1.41%

25 Nov 11:35 a.m.

bancoindia.com BSE: 500039 NSE: BANCOINDIA

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]

Website BSE NSE

Market Cap ₹ 7,974 Cr.
Current Price ₹ 1,115
High / Low ₹ 1,200 / 505
Stock P/E 23.2
Book Value ₹ 178
Dividend Yield 1.81 %
ROCE 27.0 %
ROE 26.9 %
Face Value ₹ 2.00

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Pros

Company has delivered good profit growth of 31.9% CAGR over last 5 years
Company has been maintaining a healthy dividend payout of 71.1%

Cons

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.

Peer comparison

Sector: Auto Ancillaries Industry: Auto Ancillaries

Part of BSE Allcap BSE Consumer Discretionary BSE SmallCap Nifty Microcap 250 Nifty Total Market

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	549	402	507	586	628	509	609	749	725	571	724	804	895
	468	363	427	519	569	369	511	653	602	482	610	671	689
Operating Profit	81	40	80	67	59	140	98	97	122	89	114	133	206
OPM %	15%	10%	16%	11%	9%	28%	16%	13%	17%	16%	16%	17%	23%
	0	-3	-1	1	10	1	3	16	3	12	6	2	17
Interest	1	1	3	2	1	3	7	5	6	4	7	7	6
Depreciation	8	8	24	12	12	13	20	15	16	17	28	19	19
Profit before tax	72	28	53	55	56	126	74	93	104	81	86	109	197
Tax %	31%	40%	23%	37%	8%	22%	31%	26%	36%	15%	20%	37%	30%
	49	17	40	35	52	98	51	69	66	68	68	69	139
EPS in Rs	6.88	2.39	5.62	4.84	7.23	13.73	7.14	9.62	9.24	9.55	9.53	9.60	19.39
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	1,024	1,116	1,129	1,148	1,239	1,336	1,567	1,422	1,533	1,958	2,332	2,768	2,993
	905	951	1,027	1,002	1,096	1,157	1,405	1,300	1,354	1,686	1,966	2,340	2,452
Operating Profit	119	165	102	146	144	179	161	122	178	272	366	428	542
OPM %	12%	15%	9%	13%	12%	13%	10%	9%	12%	14%	16%	15%	18%
	9	9	53	11	32	18	10	25	9	5	14	32	37
Interest	16	19	8	3	2	2	4	3	4	5	13	21	23
Depreciation	29	32	34	35	33	28	29	33	34	48	56	76	84
Profit before tax	83	122	113	119	141	167	138	111	150	224	311	363	472
Tax %	26%	26%	22%	25%	31%	30%	50%	31%	24%	32%	24%	25%
	61	90	88	90	97	117	69	77	114	152	236	271	344
EPS in Rs	8.57	12.56	12.26	12.57	13.59	16.33	9.66	10.71	15.90	21.31	32.94	37.95	48.07
Dividend Payout %	21%	16%	24%	37%	66%	61%	83%	187%	13%	94%	67%	53%

Compounded Sales Growth
10 Years:	10%
5 Years:	12%
3 Years:	22%
TTM:	15%

Compounded Profit Growth
10 Years:	12%
5 Years:	32%
3 Years:	34%
TTM:	21%

Stock Price CAGR
10 Years:	21%
5 Years:	64%
3 Years:	86%
1 Year:	96%

Return on Equity
10 Years:	16%
5 Years:	19%
3 Years:	23%
Last Year:	27%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	14	14	14	14	14	14	14	14	14	14	14	14	14
Reserves	458	574	605	674	705	793	818	696	814	967	987	1,037	1,259
	214	172	36	36	38	34	40	92	14	115	418	423	420
	168	183	164	232	211	356	322	287	344	405	435	508	648
Total Liabilities	854	944	819	956	969	1,197	1,195	1,089	1,187	1,502	1,855	1,982	2,342
	232	243	227	221	192	191	184	193	190	297	359	454	447
CWIP	9	12	11	3	4	13	13	3	1	15	18	10	12
Investments	62	71	1	1	91	24	69	9	1	1	0	0	31
	551	618	581	731	682	969	929	883	995	1,190	1,477	1,518	1,852
Total Assets	854	944	819	956	969	1,197	1,195	1,089	1,187	1,502	1,855	1,982	2,342

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	97	131	85	68	90	99	62	52	157	57	-41	458
	-104	-42	88	-17	-59	-22	-52	149	-59	-104	-23	-114
	-10	-82	-136	-6	-61	-68	-49	-153	-78	-11	59	-339
Net Cash Flow	-16	7	36	46	-30	9	-39	49	20	-58	-6	5

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	69	70	57	70	60	70	63	75	64	60	65	63
Inventory Days	178	172	152	190	171	217	191	212	234	225	271	210
Days Payable	53	57	39	71	51	90	102	99	118	95	95	90
Cash Conversion Cycle	194	184	170	189	180	197	152	188	180	191	241	183
Working Capital Days	102	107	106	118	116	116	119	142	134	139	166	131
ROCE %	15%	19%	12%	18%	17%	21%	17%	13%	19%	24%	26%	27%

Shareholding Pattern

Numbers in percentages

4 Recently

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	67.88%	67.88%	67.88%	67.88%	67.88%	67.88%	67.88%	67.88%	67.88%	67.88%	67.88%	67.88%
	0.34%	0.31%	0.37%	0.74%	1.15%	1.88%	1.87%	2.07%	2.35%	3.00%	3.21%	3.08%
	0.02%	0.02%	0.02%	0.02%	0.02%	0.03%	0.02%	0.02%	0.08%	0.13%	0.14%	0.18%
	31.76%	31.79%	31.73%	31.37%	30.95%	30.20%	30.23%	30.04%	29.69%	28.97%	28.77%	28.86%
No. of Shareholders	34,631	36,279	35,755	43,257	43,180	40,571	40,550	48,399	47,751	51,172	52,823	58,795

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	67.88%	67.88%	67.88%	67.88%	67.88%	67.88%	67.88%	67.88%	67.88%
	0.40%	0.75%	0.83%	0.72%	0.26%	0.31%	1.88%	3.00%	3.08%
	4.32%	4.33%	3.92%	2.77%	0.02%	0.02%	0.03%	0.13%	0.18%
	27.39%	27.03%	27.36%	28.63%	31.83%	31.79%	30.20%	28.97%	28.86%
No. of Shareholders	22,063	22,966	24,859	26,837	31,346	36,279	40,571	51,172	58,795

* 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.

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Banco Products (India) Ltd

Banco Products (India) Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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