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Banco Products (India) Ltd.

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bancoindia.comBSE: 500039NSE: BANCOINDIA
Market Cap₹ 8,810 Cr.
Current Price
High / Low₹ 880 / 502
Stock P/E21.2
Book Value₹ 77
Price to Book6.85
Dividend Yield3.73 %
ROCE49.3 %
ROE44.0 %
Face Value₹ 2

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ABOUT

AI Sector View

AI GENERATED

Automobile and Auto Components

Buy

Domestic auto demand remains strong across categories, with total vehicles registered up 27% YoY (2026-07), passenger vehicle sales up 14% YoY (2026-06), 2-wheelers up 23% YoY (2026-06), and tractor sales up 18% YoY (2026-07). Core demand is reinforced by vehicle sales of 395199 units (Jul/26) and car registrations of 457810 units (Jul/26), outweighing FPI outflows of INR -11826 crore over 3 months to 2026-08-31. The stance stays positive because fundamentals are stronger than positioning.

Confidence
74%
View full sector analysis →

PROS

  • Company has delivered good profit growth of 39.2% CAGR over last 5 years
  • Company is almost debt free
  • Company has a healthy return on capital (ROCE) of 43.0%
  • Company has a good return on equity (ROE) track record: 3 Years ROE 37.4%
  • Company has a consistent dividend-paying track record
  • Company generates healthy free cash flow

CONS

  • A large part of profit comes from other income (61.9% of PBT)
  • Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.44x)
  • Operating margins have contracted to 16.6% from 29.8%
  • Effective tax rate is unusually low at 10.9% - earnings may be flattered
  • Stock is trading at 6.9x its book value

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Automobile and Auto ComponentsAutomobile & AncillariesAuto Ancillary
Part ofNIFTY MICROCAP250NIFTY TOTAL MKT
S.No.Name
1.MOTHERSON164.3039.59173409.490.371075.6677.4835243.7717.7013.638.86
2.BOSCHLTD48388.7560.40142727.940.56706.10-36.745841.9022.0025.6014.08
3.UNOMINDA1202.4057.7569434.660.22315.512.105556.8523.7920.7411.14
4.TIINDIA2607.2583.2150469.140.13293.96-3.046215.3320.2027.338.81
5.SONACOMS788.9570.7649240.610.43178.5146.671301.2052.3814.7522.55
6.ENDURANCE2696.7539.1137933.250.43244.528.034314.8930.0118.3312.42
7.CRAFTSMAN11663.7565.6130505.880.10150.55116.312431.5836.3014.6515.81
8.ZFCVINDIA2548.9058.1029007.880.031044.78753.7510661.76992.8920.2312.93
9.SANSERA4130.2073.9725773.920.1087.3638.711021.2633.2714.2919.18
10.MSUMI36.3038.3724072.931.601453.20915.5134072.601273.4343.727.58
11.GABRIEL1345.4580.1123845.410.37108.1374.481425.6829.8026.3711.71
12.BANCOINDIA615.9017.818809.673.73122.3811.741183.9022.9235.8618.00
Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
266237230259253278253304297283296350342
215200194222212231214251242240257299285
Operating Profit51373637404738535543405157
OPM %19.18%15.64%15.68%14.22%15.91%16.90%15.15%17.47%18.53%15.19%13.34%14.70%16.56%
725372816351021110951663
Interest00012000000-00
Depreciation6666667777777
Profit before Tax124417162385171152641494121560
Tax %10.82%24.97%13.94%13.94%25.95%25.09%11.01%9.66%24.83%7.70%24.55%6.30%25.19%
Net Profit110316153283863137481383120245
15.434.304.253.731.942.654.429.603.359.632.1914.113.11

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
5106197365986547951,0041,0111,1051,2451,271
4175256355245376948348319091,0371,081
Operating Profit939410174117101170181196208191
OPM %18.25%15.26%13.75%12.44%17.88%12.69%16.93%17.85%17.74%16.72%14.99%
61709246829132142144291283
Interest00101001311
Depreciation1717182020202124262829
Profit before Tax137147174101104110281297311470466
Tax %19.73%18.65%29.33%30.87%23.25%22.13%12.60%14.17%14.44%10.87%10.79%
Net Profit110120123708086246255266419415
EPS15.3316.7417.199.7211.1911.9834.3335.6918.6129.28—
Dividend Payout %58.72%59.74%46.55%205.76%17.87%167.00%64.08%56.04%59.09%78.56%—

COMPOUNDED SALES GROWTH

10 Years:
10%
5 Years:
14%
3 Years:
7%

COMPOUNDED PROFIT GROWTH

10 Years:
18%
5 Years:
39%
3 Years:
19%

STOCK PRICE CAGR

10 Years:
19%
5 Years:
43%
3 Years:
40%
1 Year:
-1%

RETURN ON EQUITY

10 Years:
25%
5 Years:
32%
3 Years:
37%
Last Year:
44%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Corporate actions

2024

Dec 30

1:1

Quarterly Results & Bonus issue

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital14141414141414142929
5406016495216016717167288221,025
2233300570
Trade Payables3968725894768683102124
164916182123272511850
Total Liabilities6127357556137337858448551,0781,228
112112131128126134150153164177
Capital Work in Progress1722062824
253186215155147151155160221236
94136127102156196249261277279
0000000202269300
Cash & Bank371401196110767162611372
1151541621651982302714532159
Total Assets6127357556137337858448551,0781,228

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
88698478752211115495161
Cash from Investing-313533182-38-41127936673
Cash from Financing-70-59-79-194-1-15-201-244-160-215
-42-0-04721-54-63119

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026

Shareholding Pattern

Numbers in percentages

Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
67.8867.8867.8867.8867.8867.8867.8867.8867.88
3.213.083.763.883.834.404.004.063.91
0.140.180.210.170.430.290.220.220.24
Government0.000.000.000.000.000.000.000.000.00
28.7728.8528.1428.0727.8527.4227.8827.8327.97

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-08-30
Copy of Newspaper Publication

2026-08-30 - Banco Products (I) Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-27
Shareholders meeting

2026-08-27 - Banco Products (I) Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 19, 2026

2026-08-24
Appointment

2026-08-24 - Banco Products (I) Limited has informed the Exchange regarding Appointment of Mr. Santosh Sawant as DGM - OEM Marketing of the company w.e.f. August 24, 2026.

2026-08-17
Updates

2026-08-17 - Banco Products (I) Limited has informed the Exchange regarding ''. Intimation of Record date for payment of Dividend

2026-08-13
Copy of Newspaper Publication

2026-08-13 - Banco Products (I) Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-11
Copy of Newspaper Publication

2026-08-11 - Banco Products (I) Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-08
Record Date

2026-08-08 - Banco Products (I) Limited has informed the Exchange that Record date for the purpose of Dividend is 12-Sep-2026.

2026-08-08
Shareholders meeting

2026-08-08 - Banco Products (I) Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 19, 2026

2026-08-08
Change in Management

2026-08-08 - Banco Products (I) Limited has informed the Exchange about change in Management

News

Recent coverage and analyst commentary for BANCOINDIA

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