About
Banco Products (India) Limited, together with its subsidiaries, engages in the manufacture and sale of heat exchangers/cooling systems in India and internationally. The company offers engine cooling systems, such as radiators, charge air coolers, oil coolers, transmission and hydraulic type, condensers, fuel coolers, battery coolers, inverter coolers configurations and accessories, expansion tanks, fan motor assembly, fan shroud and guard, and miscellaneous mounting plumbing accessories. It also provides precision-engineered sealing solutions, including cylinder head gaskets, peripheral gaskets, heat shields, compressed fibre gaskets, industrial and jointing gaskets, rubber/cork gaskets, exhaust manifold and ring gaskets, oil pan and valve cover gaskets, as well as intake manifold, water/oil pump, and transmission gaskets. The company's products are used in passenger cars; light, medium, and heavy commercial vehicles; agricultural tractors and harvesters; high-performance motorcycles; construction equipment; material handling equipment; mining machinery; traction locomotives; industrial air compressors; and standalone gensets and backup power systems for data centres. The company was incorporated in 1961 and is based in Vadodara, India.
Key Metrics
as of Sep 2026Market Cap8,918 Cr
P/E18.50
Div Yield3.69 %
Book Value₹118.00
52w High₹880.00
52w Low₹502.00
Face Value₹2.00
Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,184.00 | 1,099.00 | 789.00 | 1,038.00 | 970.00 | 875.00 | 639.00 | 895.00 | 804.00 | 724.00 | 571.00 | 725.00 | 749.00 |
| Expenses | 971.00 | 874.00 | 664.00 | 889.00 | 788.00 | 660.00 | 581.00 | 689.00 | 671.00 | 610.00 | 482.00 | 602.00 | 653.00 |
| Operating Profit | 213.00 | 225.00 | 125.00 | 149.00 | 182.00 | 214.00 | 58.00 | 206.00 | 133.00 | 114.00 | 89.00 | 122.00 | 97.00 |
| OPM % | 18.00 | 20.00 | 16.00 | 14.00 | 19.00 | 24.00 | 9.00 | 23.00 | 17.00 | 16.00 | 16.00 | 17.00 | 13.00 |
| Other Income | 6.00 | 20.00 | 27.00 | 59.00 | 14.00 | 19.00 | 5.00 | 17.00 | 2.00 | 6.00 | 12.00 | 3.00 | 16.00 |
| Depreciation | 35.00 | 60.00 | 26.00 | 25.00 | 24.00 | 36.00 | 20.00 | 19.00 | 19.00 | 28.00 | 17.00 | 16.00 | 15.00 |
| Interest | 5.00 | 0.00 | 8.00 | 8.00 | 7.00 | 8.00 | 5.00 | 6.00 | 7.00 | 7.00 | 4.00 | 6.00 | 5.00 |
| Profit before tax | 179.00 | 186.00 | 119.00 | 175.00 | 164.00 | 190.00 | 39.00 | 197.00 | 109.00 | 86.00 | 81.00 | 104.00 | 93.00 |
| Tax % | 31.00 | 21.00 | 28.00 | 20.00 | 33.00 | 19.00 | 21.00 | 30.00 | 37.00 | 20.00 | 15.00 | 36.00 | 26.00 |
| Net Profit | 122.00 | 147.00 | 86.00 | 139.00 | 110.00 | 154.00 | 31.00 | 139.00 | 69.00 | 68.00 | 68.00 | 66.00 | 69.00 |
| EPS in Rs | 8.56 | 10.31 | 6.00 | 9.71 | 7.66 | 10.73 | 2.16 | 9.70 | 4.80 | 4.77 | 4.78 | 4.62 | 4.81 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 3,896.00 | 3,213.00 | 2,768.00 | 2,332.00 | 1,958.00 | 1,533.00 | 1,422.00 | 1,567.00 | 1,336.00 | 1,239.00 | 1,148.00 | 1,129.00 |
| Expenses | 3,213.00 | 2,601.00 | 2,340.00 | 1,966.00 | 1,686.00 | 1,354.00 | 1,300.00 | 1,405.00 | 1,157.00 | 1,096.00 | 1,002.00 | 1,027.00 |
| Operating Profit | 684.00 | 611.00 | 428.00 | 366.00 | 272.00 | 178.00 | 122.00 | 161.00 | 179.00 | 144.00 | 146.00 | 102.00 |
| OPM % | 18.00 | 19.00 | 15.00 | 16.00 | 14.00 | 12.00 | 9.00 | 10.00 | 13.00 | 12.00 | 13.00 | 9.00 |
| Other Income | 120.00 | 43.00 | 32.00 | 14.00 | 5.00 | 9.00 | 25.00 | 10.00 | 18.00 | 32.00 | 11.00 | 53.00 |
| Interest | 25.00 | 26.00 | 21.00 | 13.00 | 5.00 | 4.00 | 3.00 | 4.00 | 2.00 | 2.00 | 3.00 | 8.00 |
| Depreciation | 135.00 | 94.00 | 76.00 | 56.00 | 48.00 | 34.00 | 33.00 | 29.00 | 28.00 | 33.00 | 35.00 | 34.00 |
| Profit before tax | 644.00 | 534.00 | 363.00 | 311.00 | 224.00 | 150.00 | 111.00 | 138.00 | 167.00 | 141.00 | 119.00 | 113.00 |
| Tax % | 25.00 | 27.00 | 25.00 | 24.00 | 32.00 | 24.00 | 31.00 | 50.00 | 30.00 | 31.00 | 25.00 | 22.00 |
| Net Profit | 482.00 | 392.00 | 271.00 | 236.00 | 152.00 | 114.00 | 77.00 | 69.00 | 117.00 | 97.00 | 90.00 | 88.00 |
| EPS in Rs | 33.68 | 27.39 | 18.98 | 16.47 | 10.66 | 7.95 | 5.36 | 4.83 | 8.17 | 6.80 | 6.29 | 6.13 |
| Dividend Payout % | 24.00 | 40.00 | 53.00 | 67.00 | 94.00 | 13.00 | 187.00 | 83.00 | 61.00 | 66.00 | 37.00 | 24.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 29.00 | 29.00 | 14.00 | 14.00 | 14.00 | 14.00 | 14.00 | 14.00 | 14.00 | 14.00 | 14.00 | 14.00 |
| Reserves | 1,656.00 | 1,274.00 | 1,037.00 | 987.00 | 967.00 | 814.00 | 696.00 | 818.00 | 793.00 | 705.00 | 674.00 | 605.00 |
| Borrowings | 614.00 | 573.00 | 423.00 | 418.00 | 115.00 | 14.00 | 92.00 | 40.00 | 34.00 | 38.00 | 36.00 | 36.00 |
| Other Liabilities | 760.00 | 868.00 | 508.00 | 435.00 | 405.00 | 344.00 | 287.00 | 322.00 | 356.00 | 211.00 | 232.00 | 164.00 |
| Total Liabilities | 3,058.00 | 2,744.00 | 1,982.00 | 1,855.00 | 1,502.00 | 1,187.00 | 1,089.00 | 1,195.00 | 1,197.00 | 969.00 | 956.00 | 819.00 |
| Fixed Assets | 472.00 | 516.00 | 454.00 | 359.00 | 297.00 | 190.00 | 193.00 | 184.00 | 191.00 | 192.00 | 221.00 | 227.00 |
| CWIP | 11.00 | 5.00 | 10.00 | 18.00 | 15.00 | 1.00 | 3.00 | 13.00 | 13.00 | 4.00 | 3.00 | 11.00 |
| Investments | 79.00 | 38.00 | 0.00 | 0.00 | 1.00 | 1.00 | 9.00 | 69.00 | 24.00 | 91.00 | 1.00 | 1.00 |
| Other Assets | 2,496.00 | 2,185.00 | 1,518.00 | 1,477.00 | 1,190.00 | 995.00 | 883.00 | 929.00 | 969.00 | 682.00 | 731.00 | 581.00 |
| Total Assets | 3,058.00 | 2,744.00 | 1,982.00 | 1,855.00 | 1,502.00 | 1,187.00 | 1,089.00 | 1,195.00 | 1,197.00 | 969.00 | 956.00 | 819.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 380.00 | 164.00 | 458.00 | -41.00 | 57.00 | 157.00 | 52.00 | 62.00 | 99.00 | 90.00 | 68.00 | 85.00 |
| Cash from Investing Activity | -175.00 | -38.00 | -114.00 | -23.00 | -104.00 | -59.00 | 149.00 | -52.00 | -22.00 | -59.00 | -17.00 | 88.00 |
| Cash from Financing Activity | -189.00 | -123.00 | -339.00 | 59.00 | -11.00 | -78.00 | -153.00 | -49.00 | -68.00 | -61.00 | -6.00 | -136.00 |
| Net Cash Flow | 16.00 | 3.00 | 5.00 | -6.00 | -58.00 | 20.00 | 49.00 | -39.00 | 9.00 | -30.00 | 46.00 | 36.00 |
| Free Cash Flow | 267.00 | 121.00 | 363.00 | -135.00 | -15.00 | 125.00 | 26.00 | 21.00 | 49.00 | 89.00 | 48.00 | 61.00 |
| CFO/OP % | 80.00 | 45.00 | 128.00 | 13.00 | 39.00 | 103.00 | 72.00 | 77.00 | 90.00 | 97.00 | 70.00 | 110.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 69.00 | 69.00 | 63.00 | 65.00 | 60.00 | 64.00 | 75.00 | 63.00 | 70.00 | 60.00 | 70.00 | 57.00 |
| Inventory Days | 263.00 | 289.00 | 210.00 | 271.00 | 225.00 | 234.00 | 212.00 | 191.00 | 217.00 | 171.00 | 190.00 | 152.00 |
| Days Payable | 100.00 | 128.00 | 90.00 | 95.00 | 95.00 | 118.00 | 99.00 | 102.00 | 90.00 | 51.00 | 71.00 | 39.00 |
| Cash Conversion Cycle | 232.00 | 231.00 | 183.00 | 241.00 | 191.00 | 180.00 | 188.00 | 152.00 | 197.00 | 180.00 | 189.00 | 170.00 |
| Working Capital Days | 117.00 | 106.00 | 102.00 | 123.00 | 133.00 | 132.00 | 120.00 | 111.00 | 108.00 | 105.00 | 107.00 | 103.00 |
| ROCE % | 31.00 | 32.00 | 27.00 | 26.00 | 24.00 | 19.00 | 13.00 | 17.00 | 21.00 | 17.00 | 18.00 | 12.00 |
Corporate Actions
39 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Dividend | 18 Mar 2026 | 19 Mar 2026 | — | 8.00 | |
| Dividend | 19 Nov 2025 | 19 Nov 2025 | — | 7.00 | |
| Dividend | 14 Feb 2025 | 14 Feb 2025 | — | 11.00 | |
| Bonus | 30 Dec 2024 | 30 Dec 2024 | 1:1 | — | |
| Other | 12 Sep 2024 | — | — | — | Annual General Meeting |
| Dividend | 16 Feb 2024 | 16 Feb 2024 | — | 20.00 | |
| Dividend | 07 Sep 2023 | — | — | 14.00 | |
| Dividend | 24 Feb 2023 | 25 Feb 2023 | — | 8.00 | |
| Dividend | 06 Sep 2022 | — | — | 20.00 | |
| Dividend | 03 Sep 2021 | — | — | 2.00 | |
| Other | 03 Sep 2020 | — | — | — | Annual General Meeting |
| Dividend | 18 Mar 2020 | 19 Mar 2020 | — | 20.00 | |
| Dividend | 07 Aug 2019 | — | — | 3.00 | |
| Dividend | 26 Feb 2019 | 27 Feb 2019 | — | 5.00 | |
| Dividend | 06 Sep 2018 | — | — | 5.80 | |
| Dividend | 27 Mar 2018 | 28 Mar 2018 | — | 4.20 | |
| Dividend | 07 Sep 2017 | — | — | 4.00 | |
| Dividend | 20 Jan 2017 | 23 Jan 2017 | — | 5.00 | |
| Dividend | 01 Sep 2016 | — | — | 4.00 | |
| Dividend | 11 Feb 2016 | 12 Feb 2016 | — | 0.60 | |
| Dividend | 27 Jul 2015 | — | — | 2.50 | |
| Dividend | 26 Feb 2015 | 27 Feb 2015 | — | 0.50 | |
| Dividend | 11 Sep 2014 | — | — | 0.30 | |
| Dividend | 20 Feb 2014 | 21 Feb 2014 | — | 1.70 | |
| Dividend | 10 Sep 2013 | — | — | 1.80 | |
| Dividend | 24 Jul 2012 | — | — | 2.50 | |
| Dividend | 25 Aug 2011 | — | — | 3.00 | |
| Dividend | 16 Sep 2010 | — | — | 2.00 | |
| Dividend | 18 Nov 2009 | — | — | 1.50 | |
| Other | 18 Nov 2009 | — | — | — | Dividend-Rs.1.50 Pr Share |
| Dividend | 21 Aug 2008 | — | — | 1.40 | |
| Split | 23 Nov 2007 | 30 Nov 2007 | 10:2 | — | |
| Bonus | 30 Aug 2007 | 31 Aug 2007 | 1:1 | — | |
| Dividend | 19 Jul 2007 | — | — | 1.50 | NSE/BSE dividend mismatch: NSE=0.3; BSE=1.5 |
| Dividend | 19 Jul 2007 | — | — | 0.30 | NSE/BSE dividend mismatch: NSE=0.3; BSE=1.5 |
| Dividend | 22 Mar 2007 | 23 Mar 2007 | — | 7.50 | |
| Dividend | 04 Jul 2001 | — | — | 0.60 | |
| Dividend | 02 Jul 2001 | — | — | 3.00 | |
| Dividend | 28 Jun 2000 | — | — | 0.20 |
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results — Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
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Rating update6 Jul from care
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Rating update25 Jun from crisil
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Rating update29 Oct 2025 from crisil
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Rating update30 Sep 2025 from crisil
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Rating update1 Jul 2025 from care
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Rating update31 Jul 2024 from crisil