Banco Products (I) Limited
NSE Symbol BANCOINDIA
BANCO PRODUCTS(I) LTD has declared good results for the first quarter ending June 2011.
Net Sales at Rs.138.98 cr is up by 7.53 % from the previous qtr of Q4 FY11 and up by 26.27% from the corresponding qtr of Q1 FY11.
Raw Materials Cost at Rs.80.31 cr – is up by 7.05% from Q4 FY 11 and up by 25.94% from Q1 FY11.
Total Expenditure at Rs.117.24 Cr is up by 4.35% from Q4 FY 11 and up by 33.77% from Q1 FY11.
Profit from Operations at Rs.26.83 Cr is up by 56.12% from Q4 FY 11 and up by 4.33% from Q1 FY11.
Profit before tax at Rs.25.53 cr is up by 59.42% from Q4 FY11 and up by 5.32% from Q1 FY11.
Net Profit at Rs.20.48 cr is up by 76.51% from Q4 FY11 and up by 6.49% from Q1 FY11.
Basic EPS is Rs.2.86 in Q1 FY12; Rs.1.62 in Q4 FY11; and Rs.2.69% in Q1 FY11. Higher Raw Material cost has brought down the Profit growth slightly in the Q1 FY12 compared to q1 FY11.
The annualized EPS can be around 11.44. Current MP is Rs.81 for a Rs.2 FV share. Thus, PE Ratio is 7.08
Banco’s performance is reasonably good in Q1 FY12.
RESULTS TABLE :
| BANCO PRODUCTS | 30-Jun-11 | 31-Mar-11 | 30-Jun-10 |
| Net Sales | 13897.99 | 12924.33 | 11006.32 |
| Other Operating Income | 508.98 | 29.5 | 329.25 |
| Increase in SIT/WIP | 76.89 | 120.33 | -674.92 |
| Raw Materials | 8031.4 | 7502.34 | 6377.29 |
| Employees Cost | 595.34 | 570.28 | 505.96 |
| Depreciation | 392.53 | 316.14 | 314.84 |
| Other Expenditure | 2628.1 | 2726.38 | 2241.09 |
| Total Expenditure | 11724.26 | 11235.47 | 8764.26 |
| Profit from Operations | 2682.71 | 1718.36 | 2571.31 |
| Other Income | 79.05 | 132.66 | 22.95 |
| Interest6 | 208.94 | 249.68 | 170.49 |
| Profit before tax | 2552.82 | 1601.34 | 2423.77 |
| Tax expense | 505.05 | 441.22 | 500.84 |
| Net Profit | 2047.77 | 1160.12 | 1922.93 |
| Face Value (In Rs | 2 | 2 | 2 |
| Paid Up Equity | 1430.37 | 1430.37 | 1430.37 |
| Basic EPS | 2.86 | 1.62 | 2.69 |
| Public holding (%) | 32.43 | 32.81 | 32.93 |
ANNOUNCEMENTS TO NSE
14-07-2011 the Board of Directors of the Company at its meeting held on July 14, 2011 inter alia transacted the following business: (1) Approval to hold the Annual General Meeting of the Members on Septembers 06, 2011 for the financial year ended March 31, 2011.(2) The Register of Members and Share Transfer Books of the Company will remain close from August 29, 2011 to September 06, 2011 (both days inclusive) for the purpose of payment of dividend subject to approval of the shareholders at the ensuing Annual General Meeting. -
14-07-2011 following are the decisions / outcome of the Board Meeting held on July 14, 2011: (1) Subject to approval of Shareholders and other approvals the following: In principally, approved the sale/transfer of its "Gasket Division Business Undertaking" to its proposed subsidiary company, viz . Banco Gasket (India) Limited, subject to approval of the same by the members by way of postal ballot process and such other approval/ permissions as may be required in this regard.
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 "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 (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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