Banco Products (India) Limited

NSE: BANCOINDIA · Auto Components & Equipments

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Snapshot

Unlock Banco Products (India) Limited's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Banco Products (India) Limited specialises in the design, development, and manufacture of engine cooling modules and sealing systems for the automotive and industrial sectors. The company serves a diverse range of applications, including commercial vehicles, agricultural machinery, construction equipment, and railway locomotives.

Business Model

The company operates as an original equipment manufacturer (OEM) supplier, generating revenue through the sale of high-performance cooling and sealing components to domestic and international automotive and industrial manufacturers.

  • Incorporation Year:1961

Growth Outlook

Growth is driven by the expansion of the automotive sector and increasing demand for specialised cooling solutions across heavy-duty commercial, agricultural, and power generation applications.

Key Risks

  • Cyclical Automotive Demand. The company's performance is highly sensitive to the cyclical nature of the automotive and industrial equipment manufacturing sectors.
  • Raw Material Price Volatility. Fluctuations in the prices of metals and other raw materials used in manufacturing cooling modules can significantly impact operating margins.
  • Technological Obsolescence. The transition toward electric vehicles may necessitate significant R&D investment to adapt traditional cooling and sealing technologies for new powertrain architectures.
  • Export Market Dependency. Exposure to international markets introduces risks related to geopolitical instability, currency fluctuations, and varying global regulatory standards.

Price

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Key Metrics

REVENUE

₹3,896 Cr

TTM · consolidated

+21.3%YoY

NET PROFIT

₹482 Cr

TTM · consolidated

+22.9%YoY

EPS

₹33.68

TTM · consolidated

-19.6%YoY

RETURN ON EQUITY

34.4%

TTM · consolidated

-0.8 ppYoY

RETURN ON CAPITAL EMPLOYED

38.0%

TTM · consolidated

-1.0 ppYoY

P/E

19.6x

Q4 FY26 · consolidated

19.6 vs 24.2x5Y avg

EV/EBITDA

12.6x

Q4 FY26 · consolidated

12.6 vs 29.1x5Y avg

EBITDA MARGIN

20.0%

TTM · consolidated

-0.4 ppYoY

NET PROFIT MARGIN

13.4%

Q4 FY26 · consolidated

-4.1 ppYoY

DEBT TO EQUITY

0.2x

Q4 FY26 · consolidated

+0.01xYoY

Peers · Auto Components & Equipments

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Banco Products (India) LimitedBANCOINDIA
7,89419.6312.6421.3%20.0%34.4%38.0%-1.0%
Ramkrishna Forgings Ltd.RKFORGE
8,741148.9119.663.9%15.5%2.3%6.7%-9.5%
ASK Automotive LimitedASKAUTOLTD
8,15632.1618.5216.0%13.2%26.8%28.4%-10.1%
Varroc Engineering LimitedVARROC
7,53944.7512.629.0%9.5%14.2%22.0%+16.3%
Sedemac MechatroSEDEMAC
6,65020.0%
Pricol LimitedPRICOLLTD
6,51330.3916.3450.1%11.9%23.3%29.0%+38.3%

As of Q4 FY26

Financials