Banco Products (India) Ltd: Q3 FY 2018-19 Results
Banco Products (India) Ltd has announced its quarter 3 FY 2018-19 numbers today just after the market hours. The Company has posted a weak set of numbers for the quarter under review.
The Company has reported total income of INR 177.48 Cr on a standalone basis for the quarter ended 31 December 2018 as against INR 144.67 Cr for the corresponding period last year, a jump of 22.68% YoY basis. However, the quarter-on-quarter revenue declined by 1.61% (INR 180.34 Cr for July to September ’18)
Banco Products consolidated revenue grew by 9.49% year-on-year basis (INR 332.74 vs INR 303.91 Cr) while the QoQ revenues dip by 19.24% (INR 412.01 Cr for Q2 FY 2018-19)
The Company’s profit after tax for the Q3 FY 18-19 stood at INR 20.49 Cr versus INR 22.41 Cr same period last year, registering a dip of 8.57 percent YoY basis, while the QoQ PAT declined by as many as 58.73% (INR 49.62 Cr for the second quarter)
The Company’s profitability got a hit because of the higher cost of materials, jumped by 28% YoY and other expenses which rose by 11.50% year-on-year.
The Board of the company has declared Interim Dividend @ INR 5.00 per Equity Shares of Face Value (FV) of INR 2/- each i.e. 250 % for the Financial Year ending on 31.03.2019.
Banco Products (India) Ltd is a supplier of high-quality engine cooling components and engine sealing gaskets to the automotive industry for over 4 decades.
Born of an entrepreneurial spirit in the year 1961, Banco Products Ltd has today carved a niche for itself as a leader in the business of engine cooling and sealing systems both for Automotive and Industrial applications.
The product range for engine cooling systems include –
Radiators, Charge air coolers, Oil coolers – Battery coolers, Fuel coolers, Transmission & hydraulic, Inverter coolers, in Aluminium and cooper (or) brass configurations and accessories expansion tanks, Fan motor assembly, Fan shroud and guard and miscellaneous mounting and plumbing accessories.
The product range for engine sealing systems include –
Engine cylinder head and peripheral gaskets, Heat shields and Industrial gasket (with a wide material range and sizes for demanding applications of sealing)
The Company is an original equipment supplier to Indian automobile majors including Telco, Ashok Leyland, Mahindra & Mahindra, Premier Auto, and Maruti Udyog. It exports its products to Australia, Germany, Singapore and the UK.
Stock Price Movement
The stock ended 1% lower to INR 168.65 on NSE when the market closed on Tuesday! During Q3 FY 2018-19, the share prices of Banco Products Ltd has made a low of INR 160 and high of INR 199
Banco Products on Technical Charts
The stock prices of Banco Products (India) Ltd is trading 12.89% lower when compared to its 200 EMA (194) and trading 3.98% lower when compared to its 50 EMA (176)
The stock has given -22.48% returns over the past 6 months and -29% returns over the last 12 months.
Banco Products current market cap is more than INR 1200 Cr and trading at a PE ratio of 10
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