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Banco Products (India) Limited
(BANCOINDIA)
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Rating:66Neutral
Price Target:
₹678.00
▲(11.47% Upside)
Action:Downgraded
Date:08/11/26
The score is driven primarily by solid financial performance (strong growth and profitability with moderate leverage), offset by weaker cash-flow consistency/cash conversion and a notable FY2026 gross margin drop. Technical indicators are currently soft (below key moving averages with subdued RSI), while valuation is broadly reasonable with a moderate dividend yield.
Positive Factors
Consistent multi-year revenue growth
Multi-year top-line expansion demonstrates durable demand and successful OEM/aftermarket penetration. Sustained revenue growth supports scale, improves fixed-cost absorption, funds incremental capacity and product development, and underpins medium-term market share gains across segments.
Negative Factors
Volatile and weak cash conversion
Inconsistent OCF relative to profits raises longer-term funding risk for capex, working capital and distributions. Volatility—including a prior negative-OCF year—suggests working-capital swings or timing issues that can strain liquidity during downturns or growth investments.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent multi-year revenue growth
Multi-year top-line expansion demonstrates durable demand and successful OEM/aftermarket penetration. Sustained revenue growth supports scale, improves fixed-cost absorption, funds incremental capacity and product development, and underpins medium-term market share gains across segments.
Read all positive factors
Banco Products (India) Limited (BANCOINDIA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹85.39B
Dividend Yield3.8%
Average Volume (3M)11.49K
Price to Earnings (P/E)17.7
Beta (1Y)1.53
Revenue Growth21.65%
EPS Growth14.31%
CountryIN
Employees690
SectorGeneral
Sector StrengthN/A
IndustryAuto - Parts
Share Statistics
EPS (TTM)34.34
Shares Outstanding143,037,300
10 Day Avg. Volume9,685
30 Day Avg. Volume11,489
Financial Highlights & Ratios
PEG Ratio0.70
Price to Book (P/B)4.58
Price to Sales (P/S)1.98
P/FCF Ratio32.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Banco Products (India) Limited Business Overview & Revenue Model
Company Description
Banco Products (India) Limited, together with its affiliates, is engaged in the design, development, manufacturing, and distribution of automotive components for original equipment manufacturers both domestically and internationally. Their offerin...
How the Company Makes Money
Banco Products (India) Limited makes money mainly by manufacturing and selling automotive and industrial engine cooling and sealing components. Key revenue streams typically include: (1) OEM supply: Sale of radiators, cooling modules/heat exchange...
Banco Products (India) Limited Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
78
Positive
Cash Flow
56
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 40.85B | 38.96B | 32.13B | 27.68B | 23.32B | 19.58B |
| Gross Profit | 17.57B | 12.32B | 14.33B | 11.34B | 9.73B | 7.68B |
| EBITDA | 8.24B | 8.01B | 5.61B | 3.90B | 3.37B | 2.53B |
| Net Income | 4.95B | 4.82B | 3.92B | 2.71B | 2.36B | 1.52B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 30.58B | 28.46B | 20.27B | 18.84B | 15.32B |
| Cash, Cash Equivalents and Short-Term Investments | 1.59B | 1.59B | 1.57B | 593.66M | 145.20M | 779.47M |
| Total Debt | 0.00 | 6.14B | 5.73B | 4.23B | 4.18B | 1.15B |
| Total Liabilities | -16.84B | 13.74B | 15.44B | 9.76B | 8.82B | 5.50B |
| Stockholders Equity | 16.84B | 16.84B | 13.03B | 10.52B | 10.02B | 9.82B |
Cash Flow | ||||||
| Free Cash Flow | -518.90M | 2.41B | 658.50M | 3.63B | -1.67B | -177.62M |
| Operating Cash Flow | 143.10M | 3.80B | 1.64B | 4.58B | -414.61M | 572.39M |
| Investing Cash Flow | -893.10M | -1.75B | -725.40M | -1.14B | -233.74M | -1.04B |
| Financing Cash Flow | 1.65B | -1.89B | -888.10M | -3.39B | 587.20M | -112.42M |
Banco Products (India) Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | ₹26.78B | 23.71 | ― | 0.18% | 8.71% | 16.57% | |
70 Neutral | ₹3.90B | 23.02 | ― | 0.26% | 22.29% | 13.00% | |
66 Neutral | ₹85.39B | 17.66 | ― | 3.80% | 21.65% | 14.31% | |
66 Neutral | ₹67.57B | 35.36 | ― | 0.73% | 18.40% | 71.01% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
50 Neutral | ₹2.70B | 74.21 | ― | 0.09% | -4.69% | 13.74% | |
46 Neutral | ₹2.46B | 33.91 | ― | 71.04% | 13.31% | ― |
* General Sector Average
IN:BANCOINDIA
Banco Products (India) Limited
588.75
-240.00
-28.96%
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4.66%
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418.70
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.