Banco Products (India) Ltd manufactures and supplies engine cooling modules and systems for automotive and industrial applications in both the domestic and international markets. Banco Products India Limited was incorporated on March 16, 1961. It was Incorporated in 1961, promoted by Mr. Mehul K. Patel who has more than 40 years of experience in the automotive industry. The company has established itself as a prominent player in the automotive cooling and sealing systems sector with over six decades of operational experience.
The Company produces gaskets and radiators that have applications in automobiles, oil engines, compressors, and locomotives. It has 4 modern manufacturing plants based at Baroda (Vadodara) and Mumbai with state-of-the-art facilities for Production, Design & Development, and Quality Assurance. With four state-of-the-art manufacturing plants in Baroda, Vadodara, and Mumbai, the company supplies to original equipment manufacturers such as Telco, Ashok Leyland, Mahindra, Premier Automobiles, Hindustan Motors, Maruti Udyog, and exports to the US, UK, Australia, and Germany.
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. These products are considered very critical for Internal Combustion Engines, mainly for Automobiles, Commercial Vehicles, Agricultural, Power Generation, Rail, Earth Moving, and Industrial applications.
It provides 12000 varieties of gaskets and radiators that have various applications among different industries, from automobiles to oil engines. The company serves both domestic and international markets, catering to a diverse range of applications across multiple industries including automotive, industrial, and power generation sectors.
Banco Products has a market capitalization of ₹9,569 Crore as of recent data, representing a 98.4% increase in 1 year. The company has demonstrated strong financial performance across recent quarters, showcasing robust growth momentum.
For the full year FY25, the company achieved exceptional results. Sales rose 16.23% to ₹3,187.24 Crore in the year ended March 2025, as against ₹2,742.15 Crore during the previous year ended March 2024. For the full year, net profit rose 44.36% to ₹391.80 Crore in the year ended March 2025, as against ₹271.40 Crore during the previous year ended March 2024. On a full-year basis, the company's consolidated net profit jumped 44.36% to ₹391.80 Crore on 16.23% increase in revenue from operations to ₹3,187.24 Crore in FY25 over FY24.
The fourth quarter of FY25 showed particularly strong performance. Sales rose 21.05% to ₹868.40 Crore in the quarter ended March 2025, as against ₹717.40 Crore during the previous quarter ended March 2024. Net profit of Banco Products (India) rose 125.21% to ₹153.50 Crore in the quarter ended March 2025, as against ₹68.16 Crore during the previous quarter ended March 2024. The company's revenue from operations jumped 21.04% YoY to ₹868.40 Crore in the quarter ended March 31, 2025. Profit before tax was at ₹189.67 Crore in the fourth quarter of FY25, up 121.60% from ₹85.59 Crore posted in the same period a year ago.
The company maintains strong financial health with impressive profitability metrics. The company reported revenue of ₹3,213 Crore and profit of ₹392 Crore for the latest period. The stock has a P/E ratio of 24.4, book value of ₹91.1, dividend yield of 1.64%, ROCE of 33.4%, and ROE of 33.3%. An annual revenue growth of 16% is outstanding, Pre-tax margin of 17% is great, ROE of 30% is exceptional. The company has a reasonable debt to equity of 2%, which signals a healthy balance sheet.
Promoter holding stands at 67.9%, indicating strong promoter confidence in the company's future prospects. Promoter holding in Banco Products (India) Ltd has remained stable at 67.88% as of March 2025 (unchanged from June 2024). This stable promoter holding pattern reflects the management's commitment to the company's long-term growth strategy.
The company has undergone recent management changes to strengthen its leadership team. The company's board has approved the appointment of Sachin Jayantilal Kotak as the chief financial officer of the company with effect from May 17, 2025. Himali H. Patel (DIN: 07081636), Whole-time Director & CFO, has resigned from the position of Whole-time Director & CFO of the Company w.e.f. April 30, 2025 (after close of the business hours) due to personal reasons.
The board declared an interim dividend of ₹11 per equity share for the financial year 2024-25. However, The Board of Banco Products (India) at the meeting held on May 17, 2025, has not recommended a Final Dividend for the Financial Year 2024-25. In the quarter ending December 2024, Banco Products (India) Ltd declared a dividend of ₹11, translating to a dividend yield of 2.03%.
Established in 1961, Banco Products India Ltd has increased its radiator capacity from 80000 Nos to 762000 Nos, and has obtained TS 16949 certification. It has also acquired NEDERLANDSE RADIATEURN FABRIEK B.V. in 2010 in the Netherlands and Wholly Owned Subsidiary in 2011, with Lake Minerals Mauritius as its main investment in the same year. The company continues to expand its manufacturing capabilities and international presence to capitalize on growing demand in the automotive cooling systems market.
The company's strategic focus on expanding into emerging markets and maintaining strong relationships with leading OEMs positions it well for future growth in the evolving automotive landscape.
