Banco Products (I) Limited
NSE Symbol BANCOINDIA
BANCO PRODUCTS (I) LTD has declared its annual results for FY 2011, which are compared with FY 2010 results – both Non-Consolidated – below :
Net Sales for FY 11 is Rs.459.98 cr – up by 12.97% from FY 10.
Total Expenditure for FY 11 is Rs.380.36 Cr – up by 20.03% from FY 10 – which means, it has shot up more than proportionately compared to Sales Income. The increase is very pronounced under Raw material cost and other expenditure.
Profit from Operations at Rs. 80.48 cr is down by 16.35% from FY 10.
Profit before tax at Rs.74.42 cr is further down by 24.27% from FY 10.
Net Profit at Rs.58.83 cr is down by 24.97% from FY 10.
On a Face Value of Rs.2/- the Basic EPS is Rs.8.23 in FY 11 compared to Rs.10.96 in FY 10.
Some details of the company are given below the Table.
NON CONSOLIDATED RESULTS TABLE
| BANCOPRODUCTS | ||
| Net Sales | 45,997.69 | 40,714.98 |
| Other Oprtg Income | 87.01 | 594.84 |
| Increase in SIT/WIP | -759.13 | 114.38 |
| Raw Materials | 25,644.28 | 21,321.08 |
| Employees Cost | 2,081.47 | 1,790.51 |
| Depreciation | 1,296.82 | 953.66 |
| Other Expenditure | 9,773.00 | 7,508.63 |
| Total Expenditure | 38,036.44 | 31,688.26 |
| Profit from Operations | 8,048.26 | 9,621.56 |
| Other Income | 265.9 | 421.47 |
| Interest | 871.8 | 215.2 |
| Profit before tax | 7,442.36 | 9,827.83 |
| Tax Expense | 1,559.35 | 1,987.08 |
| Net Profit | 5,883.01 | 7,840.75 |
| Face Value (in Rs.) | 2 | 2 |
| Paid-up Equity | 1,430.37 | 1,430.37 |
| Reserves | 25,031.24 | 21,650.17 |
| Basic EPS (in Rs.) | 8.23 | 10.96 |
| Public holding (%) | 32.81 | 33.05 |
BANCO PRODUCTS (I) LTD
Core Competencies
- Five decades of experience has resulted in better understanding of the business
- One of the largest players in radiator and gasket business in the organized sector
- Wide range of products and constant process innovation
- Adopting to change in technology by investing in R&D (Approx USD 5 Million Annually)
- Globally competitive price and timely delivery is key to Banco’s international business
- Rapid design and proto-typing capabilities, OE quality standards, timely delivery and competitive pricing are major drivers of the business
Domestic Business India
- Major customers for Gaskets include Maruti, TATA Motors, Hero Honda and TVS Group
- Major customers for Heat Exchangers are TATA Motors, Ashok Leyland, M & M, Koel, TAFE, JCB, Indian Railways, among others
- Domestic Market OEM sales accounts for 80-85 % and around 20-15 % from Aftermarket sales
International Business
- BANCO has set up 100% EOU unit at Baroda, India
- Major export market for the company is the EU
- Steady increase in number of OEM players visiting Banco’s facilities
ANNOUNCEMENTS TO NSE
31-05-2011 Banco Products (I) Limited has recommended Dividend of 150% (i.e. Rs.3.00 per Equity Shares of Rs.2/- each) for the Financial Year ended on March 31, 2011 subject to approval by the shareholders in ensuing Annual General Meeting.
19-04-2011 Banco Products (I) Limited has informed the Exchange that "The Company has made investment in 100% Equity shareholding of Lake Minerals (Mauritius) Limited, Mauritius by making investment of USD 25000 (250 Equity Shares of USD 100/- each) and accordingly, Lake Minerals (Mauritius) Limited, Mauritius has become 100% subsidiary of the Company w.e.f. 11.04.2011." -
05-02-2011 Banco Products (I) Limited has informed the Exchange that "Banco Products (India) Limited which is already holding 99.80% of Equity Shares of Kilimanjaro Biochem Limited, has acquired 00.20% Equity Shares of Kilimanjaro Biochem Limited, by investment of Rs. 2,79,009.00 and accordingly Kilimanjaro Biochem Limited is Wholly Owned Subsidiary of Banco Products (India) Limited w.e.f. 01.02.2011".
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