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Last Updated: April 2, 2026, 2:41 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 500039 | NSE: BANCOINDIA

Banco Products (India) Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹488.96Fairly Valued by 9.45%vs CMP ₹540.00

P/E (16.2) × ROE (32.2%) × BV (₹114.00) × DY (2.78%)

₹388.31Overvalued by 28.09%vs CMP ₹540.00
MoS: -39.1% (Negative)Confidence: 58/100 (Moderate)Models: 2 Under, 7 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹616.9823%Under (+14.3%)
Graham NumberEarnings₹295.7517%Over (-45.2%)
Earnings PowerEarnings₹115.3411%Over (-78.6%)
DCFCash Flow₹786.5811%Under (+45.7%)
Net Asset ValueAssets₹114.387%Over (-78.8%)
EV/EBITDAEnterprise₹343.569%Over (-36.4%)
Earnings YieldEarnings₹341.007%Over (-36.9%)
ROCE CapitalReturns₹232.779%Over (-56.9%)
Revenue MultipleRevenue₹224.776%Over (-58.4%)
Consensus (9 models)₹388.31100%Overvalued
Key Drivers: EPS CAGR 26.2% lifts DCF — verify sustainability. | Wide model spread (₹114–₹787) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 26.2%

*Investments are subject to market risks

Investment Snapshot

72
Banco Products (India) Ltd scores 72/100 (Strong)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health88/100 · Strong
ROCE 32.4% ExcellentROE 32.2% ExcellentD/E 0.01 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money60/100 · Moderate
FII holding up 0.12% (6mo) Slight increasePromoter holding at 67.9% Stable
Earnings Quality50/100 · Moderate
OPM stable around 17% Steady
Quarterly Momentum70/100 · Strong
Revenue (4Q): +18% YoY GrowingProfit (4Q): +26% YoY StrongOPM: 14.0% (down 9.0% YoY) Margin pressure
Industry Rank90/100 · Strong
P/E 16.2 vs industry 50.7 Cheaper than peersROCE 32.4% vs industry 16.5% Above peersROE 32.2% vs industry 14.3% Above peers3Y sales CAGR: 18% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:41 am

Market Cap 7,719 Cr.
Current Price 540
Intrinsic Value₹388.31
High / Low 880/305
Stock P/E16.2
Book Value 114
Dividend Yield2.78 %
ROCE32.4 %
ROE32.2 %
Face Value 2.00
PEG Ratio0.62

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Banco Products (India) Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Banco Products (India) Ltd 7,719 Cr. 540 880/30516.2 1142.78 %32.4 %32.2 % 2.00
Federal-Mogul Goetze (India) Ltd 2,326 Cr. 418 622/32012.2 2440.00 %19.6 %14.0 % 10.0
Shriram Pistons & Rings Ltd 13,326 Cr. 3,025 3,416/1,55623.7 5990.33 %25.7 %23.2 % 10.0
GNA Axles Ltd 1,625 Cr. 378 471/27014.6 2190.79 %14.3 %12.5 % 10.0
Talbros Automotive Components Ltd 1,502 Cr. 243 326/20115.2 1100.29 %19.3 %15.9 % 2.00
Industry Average11,137.67 Cr3,051.2150.72554.760.77%16.53%14.30%7.25

All Competitor Stocks of Banco Products (India) Ltd

Quarterly Result

MetricSep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales 6285096097497255717248048956398759701,038
Expenses 569369511653602482610671689581660788889
Operating Profit 5914098971228911413320658214182149
OPM % 9%28%16%13%17%16%16%17%23%9%24%19%14%
Other Income 10131631262175191459
Interest 1375647765878
Depreciation 12132015161728191920362425
Profit before tax 561267493104818610919739190164175
Tax % 8%22%31%26%36%15%20%37%30%21%19%33%20%
Net Profit 529851696668686913931154110139
EPS in Rs 3.626.873.574.814.624.784.774.809.702.1610.737.669.71

Last Updated: January 2, 2026, 8:01 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 23, 2026, 1:16 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 1,1161,1291,1481,2391,3361,5671,4221,5331,9582,3322,7683,2133,672
Expenses 9511,0271,0021,0961,1571,4051,3001,3541,6861,9662,3402,6013,002
Operating Profit 165102146144179161122178272366428611670
OPM % 15%9%13%12%13%10%9%12%14%16%15%19%18%
Other Income 953113218102595143243119
Interest 198322434513212631
Depreciation 323435332829333448567694110
Profit before tax 122113119141167138111150224311363534648
Tax % 26%22%25%31%30%50%31%24%32%24%25%27%
Net Profit 908890971176977114152236271392488
EPS in Rs 6.286.136.296.808.174.835.367.9510.6616.4718.9827.3934.10
Dividend Payout % 16%24%37%66%61%83%187%13%94%67%53%40%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-2.22%2.27%7.78%20.62%-41.03%11.59%48.05%33.33%55.26%14.83%44.65%
Change in YoY Net Profit Growth (%)0.00%4.49%5.51%12.84%-61.64%52.62%36.46%-14.72%21.93%-40.43%29.82%

Banco Products (India) Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:11%
5 Years:18%
3 Years:18%
TTM:20%
Compounded Profit Growth
10 Years:20%
5 Years:39%
3 Years:36%
TTM:60%
Stock Price CAGR
10 Years:27%
5 Years:67%
3 Years:68%
1 Year:80%
Return on Equity
10 Years:19%
5 Years:24%
3 Years:28%
Last Year:32%

Last Updated: September 5, 2025, 12:30 am

Balance Sheet

Last Updated: December 4, 2025, 1:01 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 14141414141414141414142929
Reserves 5746056747057938186968149679871,0371,2741,606
Borrowings 17236363834409214115418423573729
Other Liabilities 183164232211356322287344405435508868714
Total Liabilities 9448199569691,1971,1951,0891,1871,5021,8551,9822,7443,078
Fixed Assets 243227221192191184193190297359454516484
CWIP 121134131331151810516
Investments 7111912469911003876
Other Assets 6185817316829699298839951,1901,4771,5182,1852,501
Total Assets 9448199569691,1971,1951,0891,1871,5021,8551,9822,7443,078

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 13185689099625215757-41458164
Cash from Investing Activity + -4288-17-59-22-52149-59-104-23-114-73
Cash from Financing Activity + -82-136-6-61-68-49-153-78-1159-339-89
Net Cash Flow 73646-309-394920-58-653
Free Cash Flow 84614889492126125-15-13536386
CFO/OP 100%110%70%97%90%77%72%103%39%13%128%45%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-7.0066.00110.00106.00145.00121.0030.00164.00157.00-52.005.0038.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 705770607063756460656369
Inventory Days 172152190171217191212234225271210289
Days Payable 573971519010299118959590128
Cash Conversion Cycle 184170189180197152188180191241183231
Working Capital Days 71103107105108111120132133123102106
ROCE %19%12%18%17%21%17%13%19%24%26%27%32%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 67.88%67.88%67.88%67.88%67.88%67.88%67.88%67.88%67.88%67.88%67.88%67.88%
FIIs 1.88%1.87%2.07%2.35%3.00%3.21%3.08%3.76%3.88%3.83%4.40%4.00%
DIIs 0.03%0.02%0.02%0.08%0.13%0.14%0.18%0.21%0.17%0.43%0.29%0.22%
Public 30.20%30.23%30.04%29.69%28.97%28.77%28.86%28.15%28.07%27.85%27.42%27.89%
No. of Shareholders 40,57140,55048,39947,75151,17252,82358,79560,52767,94569,54072,70876,314

Shareholding Pattern Chart

No. of Shareholders

Banco Products (India) Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Samco Multi Cap Fund 8,424 0.2 0.58N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 2.002.002.002.002.00
Basic EPS (Rs.) 27.3937.9532.9421.3115.90
Diluted EPS (Rs.) 27.3937.9532.9421.3115.90
Cash EPS (Rs.) 33.9948.5740.8228.0020.61
Book Value[Excl.RevalReserv]/Share (Rs.) 91.05146.95139.96137.19115.76
Book Value[Incl.RevalReserv]/Share (Rs.) 91.08147.03140.03137.27115.83
Revenue From Operations / Share (Rs.) 224.59387.09326.04273.78214.29
PBDIT / Share (Rs.) 45.7464.3353.1038.7226.17
PBIT / Share (Rs.) 39.1453.7045.2232.0221.46
PBT / Share (Rs.) 37.3550.7143.4631.2920.95
Net Profit / Share (Rs.) 27.3937.9532.9421.3115.90
NP After MI And SOA / Share (Rs.) 27.3937.9532.9421.3115.90
PBDIT Margin (%) 20.3616.6116.2814.1412.21
PBIT Margin (%) 17.4213.8713.8611.6910.01
PBT Margin (%) 16.6213.1013.3211.429.77
Net Profit Margin (%) 12.199.8010.107.787.42
NP After MI And SOA Margin (%) 12.199.8010.107.787.42
Return on Networth / Equity (%) 30.0825.8223.5315.5313.73
Return on Capital Employeed (%) 32.3828.3226.2119.6316.89
Return On Assets (%) 13.7613.3812.509.959.35
Long Term Debt / Equity (X) 0.010.030.030.010.01
Total Debt / Equity (X) 0.240.210.290.020.01
Asset Turnover Ratio (%) 1.321.420.840.790.70
Current Ratio (X) 1.982.242.243.173.21
Quick Ratio (X) 0.740.860.701.201.37
Inventory Turnover Ratio (X) 2.791.591.311.391.21
Dividend Payout Ratio (NP) (%) 40.1589.5924.289.380.00
Dividend Payout Ratio (CP) (%) 32.3669.9919.597.140.00
Earning Retention Ratio (%) 59.8510.4175.7290.620.00
Cash Earning Retention Ratio (%) 67.6430.0180.4192.860.00
Interest Coverage Ratio (X) 25.5221.5430.1852.6951.73
Interest Coverage Ratio (Post Tax) (X) 16.2913.7019.7230.0032.44
Enterprise Value (Cr.) 5131.354411.671882.76913.42896.66
EV / Net Operating Revenue (X) 1.601.590.800.460.58
EV / EBITDA (X) 7.849.594.963.304.79
MarketCap / Net Operating Revenue (X) 1.541.540.690.490.65
Retention Ratios (%) 59.8410.4075.7190.610.00
Price / BV (X) 3.794.051.610.991.21
Price / Net Operating Revenue (X) 1.541.540.690.490.65
EarningsYield 0.070.060.140.150.11

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Banco Products (India) Ltd. is a Public Limited Listed company incorporated on 16/03/1961 and has its registered office in the State of Gujarat, India. Company's Corporate Identification Number(CIN) is L51100GJ1961PLC001039 and registration number is 001039. Currently Company is involved in the business activities of Manufacture of diverse parts and accessories for motor vehecles sucs as brakes, gearboxes, axles, road wheels, suspension shock absorbers, radiators, silencers, exhaust pipes, catalysers, clutches, steering wheels, steering columns and steering boxes etc.. Company's Total Operating Revenue is Rs. 1104.99 Cr. and Equity Capital is Rs. 28.61 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Auto Ancl - Engine PartsBil, Near Bhaili Railway Station, Vadodra District Gujarat 391410Contact not found
Management
NamePosition Held
Mr. Mehul K PatelChairman
Mr. Venkata Ranganath Kumar SamiWhole Time Director
Mr. Sharan M PatelWhole Time Director
Mr. Shivam M PatelNon Executive Director
Ms. Ameeta V ManoharIndependent Director
Mr. Tarak A PatelIndependent Director
Mr. Anand A MajmudarIndependent Director
Mr. Pranav R PatelIndependent Director

FAQ

What is the intrinsic value of Banco Products (India) Ltd and is it undervalued?

As of 14 April 2026, Banco Products (India) Ltd's intrinsic value is ₹388.31, which is 28.09% lower than the current market price of ₹540.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (32.2 %), book value (₹114), dividend yield (2.78 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Banco Products (India) Ltd?

Banco Products (India) Ltd is trading at ₹540.00 as of 14 April 2026, with a FY2026-2027 high of ₹880 and low of ₹305. The stock is currently in the middle of its 52-week range. Market cap stands at ₹7,719 Cr..

How does Banco Products (India) Ltd's P/E ratio compare to its industry?

Banco Products (India) Ltd has a P/E ratio of 16.2, which is below the industry average of 50.72. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Banco Products (India) Ltd financially healthy?

Key indicators for Banco Products (India) Ltd: ROCE of 32.4 % indicates efficient capital utilization; ROE of 32.2 % shows strong shareholder returns. Dividend yield is 2.78 %.

Is Banco Products (India) Ltd profitable and how is the profit trend?

Banco Products (India) Ltd reported a net profit of ₹392 Cr in Mar 2025 on revenue of ₹3,213 Cr. Compared to ₹152 Cr in Mar 2022, the net profit shows an improving trend.

Does Banco Products (India) Ltd pay dividends?

Banco Products (India) Ltd has a dividend yield of 2.78 % at the current price of ₹540.00. This is a relatively attractive yield for income-seeking investors.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Banco Products (India) Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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