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Banco Products (I) Limited (BANCOINDIA)

₹604.55 +0.40% last close, 16 Oct

📊 NSE: BANCOINDIA 🏢 Auto Ancillaries 📢 Latest filing: 07 Oct 2026 📝 Analysis written: 13 Dec 2025

Q2 FY27 results

📅 Next results: 06 Nov 2026 (board meeting)

Banco Products (I) Limited's board meets on 6 Nov 2026 to consider its Q2 FY27 results (July-September 2026).

In its latest reported quarter, Q1 FY27, Banco Products' revenue was ₹1,184 Cr (+22.0% year on year, +7.7% on the previous quarter), and net profit ₹122 Cr (+11.7% year on year); the operating margin was 18.0%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹1,184	+22.0%	+7.7%
Operating profit	₹213	+17.2%	-5.3%
Net profit	₹122	+11.7%	-16.7%
EPS (₹)	8.56	+11.7%	-17.0%
Operating margin	18.0%	—	—

Full quarterly financials → Results calendar →

BANCOINDIA delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 51.46% of the BANCOINDIA shares traded on NSE were taken to delivery, against the stock's own 20-session average of 51.01%. That is close to its usual level.

51.46%Delivery, 16 Oct

51.01%Own 20-session average

0.6×Volume vs its average

₹604.55NSE close · +0.40%

Delivery in the last 5 sessions: 49.9% · 52.5% · 51.8% · 49.2% · 51.5%

Delivery across the market →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

Banco Products Submits Demat Compliance Certificate for Q2 Ended September 30, 2026

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 07 Oct 2026, 04:59 PM

Banco Products (India) Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate was issued by Registrar and Share Transfer Agent MUFG Intime India Private Limited on October 3, 2026. It confirms that all securities received for dematerialisation during the quarter were processed, verified, and listed on the exchanges within prescribed timelines. This is a standard quarterly administrative filing with no impact on business operations or financials.

Compliance certificate submitted under Regulation 74(5) of SEBI Regulations, 2018
Covers the quarter ended September 30, 2026
Issued by Registrar and Share Transfer Agent MUFG Intime India Private Limited on October 3, 2026
Filed with BSE and NSE on October 7, 2026

💡 No investor action required. Investors should monitor upcoming announcements regarding the Q2 FY27 earnings schedule.

Banco Products DGM - Purchase Mahendra Nath Mahato Resigns Effective September 30, 2026

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 30 Sep 2026, 05:34 PM

Banco Products (India) Limited has announced the resignation of Mr. Mahendra Nath Mahato from his role as Deputy General Manager (DGM) - Purchase, designated as Senior Management Personnel. The resignation took effect on September 30, 2026, after the close of business hours, citing the pursuit of better career prospects. Given that this is a functional departmental head role within a business with TTM revenue of ₹4,110 crore, the change represents routine personnel turnover without broader strategic disruption.

Mr. Mahendra Nath Mahato resigned from his role as DGM - Purchase w.e.f. September 30, 2026 (after close of business hours).
The resignation letter was initially tendered on September 24, 2026.
Reason provided for the departure is the pursuit of better career prospects.

💡 Monitor upcoming quarterly disclosures to ensure procurement and supply chain continuity remain unaffected given raw material sensitivity.

Banco Products Announces Resignation of OEM Marketing President and DGM

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 28 Sep 2026, 06:26 PM

Banco Products (India) Limited has reported the resignation of two senior management personnel in OEM Marketing: Mr. Sujith Nair (President - Marketing OEM) effective September 5, 2026, and Mr. Santosh Sawant (DGM - OEM Marketing) effective September 9, 2026. Mr. Nair noted in his resignation that he oversaw monthly sales growth from ~₹42-45 crore in 2021 to peak monthly sales exceeding ₹72 crore during his 5-year tenure. The company acknowledged a compliance delay in notifying stock exchanges beyond prescribed timelines due to oversight.

Resignation of Sujith Nair, President - Marketing (OEM), effective September 5, 2026
Resignation of Santosh Sawant, DGM - OEM Marketing, effective September 9, 2026, after 19 days of tenure
Outgoing President noted monthly sales expanded from ~₹42-45 crore in 2021 to over ₹72 crore during his tenure
Company disclosed an inadvertent delay in filing the intimation under Regulation 30

💡 Monitor upcoming quarterly disclosures for announcements regarding successor appointments in OEM sales leadership and any disruption in OEM client relationship management.

Banco Products Holds 65th AGM; Votes on 400% Dividend (Rs 8/Share) and Board Appointments

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 19 Sep 2026, 03:46 PM

Banco Products (India) Limited concluded its 65th Annual General Meeting on September 19, 2026, conducting key ordinary and special business items. Shareholders voted on adopting FY26 audited financial statements and approving a final dividend of 400% (Rs 8 per equity share of face value Rs 2). The meeting also considered the appointment of Mr. Hiteshbhai Manubhai Patel as Whole-time Director, the re-appointment of retiring director Mr. Sharan M. Patel, and commission payment to Non-Executive Director Mr. Shivam M. Patel. Formal voting results via e-voting scrutinizer report will follow within prescribed statutory timelines.

Conducted 65th Annual General Meeting on September 19, 2026, concluding at 1:47 PM IST
Tabled approval for 400% dividend (Rs 8 per share of face value Rs 2) for FY26
Considered regularisation and appointment of Mr. Hiteshbhai Manubhai Patel as Whole-time Director (KMP)
Adopted audited financial statements for the financial year ended March 31, 2026

💡 Track the formal scrutinizer voting report submission on the exchanges to confirm all resolutions were passed, and monitor dividend payout timelines.

Banco Products Appoints Kshitikesh Parmeshwar as Chief Technology Officer

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 14 Sep 2026, 05:19 PM

Banco Products (India) Limited has appointed Mr. Kshitikesh Parmeshwar as Chief Technology Officer (Senior Management Personnel) effective September 14, 2026. Mr. Parmeshwar brings over 30 years of experience in automotive R&D, product innovation, and thermal management engineering. This aligns with Banco's strategic focus on thermal management innovation across its automotive (35% of sales) and industrial segments (30% of sales). The company operates at a TTM revenue base of Rs 4,110 Cr with zero debt.

Appointment of Mr. Kshitikesh Parmeshwar as Chief Technology Officer effective September 14, 2026
Appointee brings over 30+ years of experience in R&D and engineering leadership
Holds a B.Tech in Mechanical Engineering from NIT Calicut
Specialization in thermal management domain and developing patented technologies for global OEMs

💡 Track future quarterly updates for R&D outcomes, new product launches in advanced thermal management, and patent additions.

Banco Products Issues 65th AGM Notice for Sep 19, 2026; Proposes ₹8/Share Dividend

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 27 Aug 2026, 03:20 PM

Banco Products (India) Limited has released the notice for its 65th Annual General Meeting scheduled for September 19, 2026. Key agenda items include the approval of a final dividend of ₹8 per equity share (400% on ₹2 face value) for FY26 and the appointment of Mr. Hiteshbhai Manubhai Patel as Whole-time Director for a 3-year term starting August 8, 2026. Shareholders will also vote on paying a 1.5% net profit commission to Non-Executive Director Mr. Shivam M. Patel for FY26.

65th Annual General Meeting scheduled for Saturday, September 19, 2026, via Video Conferencing.
Proposed dividend of ₹8 per equity share of face value ₹2 (400%) for FY26 subject to shareholder approval.
Special resolution to appoint Mr. Hiteshbhai Manubhai Patel as Whole-time Director for 3 years effective August 8, 2026.
Proposed approval of 1.5% net profit commission to Non-Executive Director Mr. Shivam M. Patel for FY26.

💡 Track voting outcomes and resolutions passed at the AGM on September 19, 2026, alongside the record date and payment timelines for the declared dividend.

Banco Products Appoints Santosh Sawant as DGM - OEM Marketing Effective Aug 24, 2026

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 24 Aug 2026, 05:50 PM

Banco Products (India) Limited has appointed Mr. Santosh Sawant as Deputy General Manager (DGM) - OEM Marketing, categorized as Senior Management Personnel, effective August 24, 2026. Mr. Sawant holds a Diploma in Mechanical Engineering and brings over 29 years of automotive industry experience in sales, marketing, and vendor management. The appointment aligns with the company's core operations in automotive thermal management and gaskets, supporting its OEM customer relationships across an annual revenue base of ₹4,110 crore.

Appointment of Mr. Santosh Sawant as DGM - OEM Marketing effective August 24, 2026
Designated as Senior Management Personnel (SMP) under SEBI LODR regulations
Mr. Sawant brings more than 29 years of experience in the automotive industry across sales, marketing, and vendor management
Educational qualification: Holds a Diploma in Mechanical Engineering

💡 Track upcoming quarterly performance and OEM business traction in the automotive segment during subsequent quarterly earnings calls.

Banco Products Sets Sep 12, 2026 as Record Date for FY26 Final Dividend

🟡 NEUTRAL ⭐ 3/10

DIVIDEND 📅 17 Aug 2026, 06:25 PM

Banco Products (India) Limited has scheduled its 65th Annual General Meeting for September 19, 2026. The company has fixed September 12, 2026, as the Record Date to determine shareholder entitlement for the FY26 final dividend. Subject to shareholder approval at the AGM, dividend disbursement will take place on or after September 25, 2026.

65th Annual General Meeting scheduled for September 19, 2026 at 11:30 a.m. IST
Record date for FY26 final dividend entitlement fixed as September 12, 2026
Dividend payout to be initiated on or after September 25, 2026 subject to approval

💡 Investors seeking dividend eligibility must hold shares before the ex-dividend date prior to September 12, 2026; track the AGM outcome on September 19, 2026.

Banco Products Sets Sep 12 Record Date for Dividend; Appoints New Whole-Time Director

🟡 NEUTRAL ⭐ 5/10

BOARD_MEETING 📅 08 Aug 2026, 06:28 PM

Banco Products (India) Limited has fixed September 12, 2026, as the record date for its final dividend for FY26, with the 65th AGM scheduled for September 19, 2026. The board approved Q1 FY27 results and appointed Mr. Hiteshbhai Manubhai Patel, an internal veteran with 15+ years of experience, as Whole-Time Director for a three-year term. A key subsidiary reported revenue of ₹72.36 cr and a PAT of ₹13.34 cr for the quarter ended June 30, 2026. The company remains debt-free with a strong ROCE of 49.0%.

Record date for final dividend eligibility fixed as September 12, 2026.
Appointment of Mr. Hiteshbhai Manubhai Patel as Whole-Time Director for a 3-year term effective August 8, 2026.
One subsidiary reported Q1 FY27 revenue of ₹72.36 cr and PAT of ₹13.34 cr.
65th Annual General Meeting (AGM) to be held on September 19, 2026, via video conferencing.
M/s. S S Puranik and Associates appointed as Cost Auditors for the financial year 2026-27.

💡 Investors should verify their holdings by the September 12 record date to ensure dividend eligibility. Monitor the full Q1 FY27 results for margin performance, as the company faces raw material volatility.

Banco Products to Hold 65th AGM on Sept 19; Appoints New Whole-Time Director

🟡 NEUTRAL ⭐ 5/10

BOARD_MEETING 📅 08 Aug 2026, 06:16 PM

Banco Products (India) Limited has scheduled its 65th Annual General Meeting (AGM) for September 19, 2026. The Board has approved the Q1 FY27 unaudited financial results and appointed Mr. Hiteshbhai Manubhai Patel as a Whole-Time Director for a 3-year term, leveraging his 15+ years of experience within the company. A final dividend for FY26 will be processed with a book closure period starting September 12, 2026. Additionally, one subsidiary reported a Q1 PAT of ₹13.34 cr on revenue of ₹72.36 cr.

65th Annual General Meeting scheduled for September 19, 2026, via Video Conference.
Appointment of Mr. Hiteshbhai Manubhai Patel as Whole-Time Director for a 3-year term effective August 8, 2026.
Book closure for final FY26 dividend set from September 12 to September 19, 2026.
One subsidiary reported Q1 revenue of ₹72.36 cr and net profit of ₹13.34 cr.
M/s. S S Puranik and Associates appointed as Cost Auditors for the financial year 2026-27.

💡 Investors should note the dividend record date of September 12, 2026, and monitor the full Q1 FY27 earnings report for operational performance trends in the auto ancillary segment.

Banco Products Appoints Hiteshbhai Patel as WTD; Sets Sept 19 for 65th AGM

🟡 NEUTRAL ⭐ 6/10

MANAGEMENT 📅 08 Aug 2026, 05:48 PM

Banco Products (India) Limited has appointed Mr. Hiteshbhai Manubhai Patel as a Whole-Time Director for a 3-year term effective August 8, 2026. Mr. Patel is an internal veteran with over 15 years at the company and 25 years of engineering experience. The board also approved Q1 FY27 results, with one subsidiary contributing Rs 72.36 cr in revenue and Rs 13.34 cr in PAT. The 65th AGM is scheduled for September 19, 2026, with the book closure for the final dividend starting September 12, 2026.

Appointment of Mr. Hiteshbhai Manubhai Patel as Whole-Time Director for a 3-year term starting Aug 8, 2026.
One subsidiary reported Q1 FY27 revenue of Rs 72.36 cr and PAT of Rs 13.34 cr.
65th Annual General Meeting (AGM) scheduled for September 19, 2026.
Book closure for final dividend set from September 12 to September 19, 2026.
Appointment of M/s. S S Puranik and Associates as Cost Auditors for FY 2026-27.

💡 Investors should monitor the full Q1 FY27 financial performance to assess if the 17.5% OPM is sustained. Note the September 12 cut-off date for dividend eligibility and e-voting.

Banco Products Q1 FY27 Results Approved; Appoints New Whole-Time Director

🟡 NEUTRAL ⭐ 6/10

BOARD_MEETING 📅 08 Aug 2026, 05:16 PM

Banco Products (India) Limited approved its unaudited financial results for the quarter ended June 30, 2026, and scheduled its 65th AGM for September 19, 2026. The board appointed Mr. Hiteshbhai Manubhai Patel, a 15-year company veteran, as a Whole-Time Director for a three-year term. A final dividend for FY26 is pending shareholder approval, with the book closure set for mid-September. While full consolidated figures were not in the summary text, one subsidiary reported a quarterly revenue of Rs 72.36 Cr and a PAT of Rs 13.34 Cr.

Board approved unaudited standalone and consolidated financial results for the quarter ended June 30, 2026
Appointed Mr. Hiteshbhai Manubhai Patel as Whole-Time Director for a 3-year term effective August 8, 2026
Scheduled the 65th Annual General Meeting (AGM) for September 19, 2026, via video conferencing
Set book closure for final dividend from September 12 to September 19, 2026
One subsidiary reported quarterly revenue of Rs 72.36 Cr and net profit of Rs 13.34 Cr

💡 Investors should review the full Q1 FY27 financial statements to compare performance against the previous year's June quarter revenue of Rs 970.09 Cr. Monitor the AGM on September 19 for the final dividend confirmation.

Banco Products Appoints Mr. Omkar Dharmadhikari as DGM - OE Marketing

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 04 Aug 2026, 05:02 PM

Banco Products (India) Limited has appointed Mr. Omkar Dharmadhikari as Deputy General Manager (DGM) - OE Marketing, effective August 4, 2026. Mr. Dharmadhikari joins the Senior Management Personnel (SMP) team with over 25 years of experience in sales and marketing across diverse industries. This appointment is strategically relevant as the company derives approximately 35% of its revenue from the cyclical automobile segment and 30% from the industrial segment, both of which rely heavily on OEM (Original Equipment) relationships.

Appointment of Mr. Omkar Dharmadhikari as DGM - OE Marketing effective August 4, 2026
New appointee brings over 25 years of extensive experience in the sales and marketing domain
The role focuses on OE (Original Equipment) Marketing, critical for the company's 35% automobile segment revenue share
Company maintains a strong financial profile with TTM revenue of ₹3,897 Cr and 49.0% ROCE

💡 Investors should monitor the company's ability to secure new OEM contracts or expand existing ones, as this role is central to managing relationships that drive 65% of total sales.

June 30, 2026: Banco Products Submits Routine SEBI Dematerialization Certificate

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 08 Jul 2026, 02:39 PM

Banco Products (I) Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The document, issued by MUFG Intime India Private Limited, confirms that all share dematerialization requests for the quarter ended June 30, 2026, were processed within mandated timelines. This is a standard administrative filing required for all listed entities to verify the integrity of shareholding records. It has no impact on the company's financial position, which includes a TTM revenue of ₹3,897 Cr and a debt-free balance sheet.

Compliance certificate issued for the quarter ended 30th June 2026
Registrar and Share Transfer Agent (RTA) MUFG Intime India Private Limited confirmed processing of demat requests
Securities comprised in the certificates are listed on BSE (500039) and NSE (BANCOINDIA)
Confirmation that security certificates were mutilated and cancelled after due verification

💡 No action is required as this is a routine regulatory filing. Investors should monitor upcoming quarterly financial results for operational updates.

Banco Products Designates 3 Executives as Senior Management Personnel in Internal Restructuring

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 29 Jun 2026, 05:30 PM

Banco Products (India) Limited has designated three existing executives from its procurement and vendor development departments as Senior Management Personnel (SMP) effective June 29, 2026. This move follows an internal restructuring aimed at formalizing leadership within the supply chain function. The newly designated SMPs—Mr. Parasram Parihar, Mr. Jigar Pathak, and Mr. Rakesh Motekar—bring a combined experience of over 53 years in the automobile and industrial sectors. For a company with a high ROCE of 49.0% and TTM revenue of Rs 3,897 Cr, maintaining robust procurement leadership is essential for managing raw material volatility.

3 executives designated as Senior Management Personnel (SMP) effective June 29, 2026
Mr. Rakesh Motekar (DGM Purchase) brings the highest individual experience of 23+ years
Mr. Parasram Parihar (AGM Purchase) holds an MBA from IIM Mumbai with 18+ years of experience
Mr. Jigar Pathak (Manager Vendor Development) has 12+ years of experience in the automobile sector

💡 Monitor future quarterly margins to see if this procurement-focused restructuring helps mitigate the raw material price volatility the company previously identified as a risk.

View All BANCOINDIA Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

The company operates in a single segment: automobile components. Total revenue grew from INR 992 Cr in FY24 to INR 1,087 Cr in FY25, representing a 9.6% YoY growth.

Geographic Revenue Split

Revenue within India contributed 70.3% (INR 764 Cr, up 5.1% YoY) and revenue outside India contributed 29.7% (INR 323 Cr, up 21.9% YoY).

Profitability Margins

Operating Profit (PBT) margin was 29% in FY25, a slight decrease from 30% in FY24, primarily due to commodity price volatility and inflationary pressures on manufacturing costs.

EBITDA Margin

The company targets maintaining operating margins above 19% on a sustained basis to support its credit profile; current PBT margins of 29% indicate strong core profitability despite a 1% YoY decline.

Capital Expenditure

Not disclosed in absolute INR Cr; however, the company is pursuing growth opportunities and investments in manufacturing efficiency and digital transformation.

Credit Rating & Borrowing

Assigned CARE AA; Stable / CARE A1+ as of July 1, 2025. Borrowing costs are managed within a profile where Total Debt/PBILDT is targeted to remain below 1.5x.

⚙️ Operational Drivers

Raw Materials

Metals (specifically aluminum and copper for radiators) and other raw materials critical to thermal management components, representing a significant but unspecified percentage of total costs.

Import Sources

Sourced globally with a strategic focus on reducing import dependence; specific countries are not listed, but international operations suggest a global supply chain.

Key Suppliers

Not disclosed by specific name; however, the company is actively diversifying its supplier base to mitigate vendor dependency and import risks.

Capacity Expansion

Current installed capacity is not disclosed in units; planned expansion is driven by strategically owned subsidiaries to support fluctuating demand with quick turnaround times.

Raw Material Costs

Raw material costs are susceptible to high volatility; sustained rises in metal prices have exerted pressure on margins, though specific YoY cost change percentages were not disclosed.

Manufacturing Efficiency

Efficiency is driven by state-of-the-art manufacturing infrastructure and an upgrade to SAP S/4HANA for real-time data processing and seamless integration.

📈 Strategic Growth

Expected Growth Rate

9.60%

Growth Strategy

Growth will be achieved through penetration into emerging markets via strategically owned subsidiaries, R&D in thermal management innovation, and digital transformation including a transition to Zero Trust Architecture and AI-based threat detection.

Products & Services

Radiators, gaskets, thermal management components, and engine components for the automotive and industrial sectors.

Brand Portfolio

Banco, Banco Gaskets.

New Products/Services

New product development is focused on advanced thermal management solutions, though specific expected revenue contribution percentages are not disclosed.

Market Expansion

Targeting emerging markets through subsidiaries to enhance customer service and support fluctuating demand with quick turnaround times.

Market Share & Ranking

Established position in the radiator segment; specific industry ranking not disclosed.

Strategic Alliances

Banco Gaskets (India) Ltd is a key subsidiary; the company maintains long-standing relationships with major Original Equipment Manufacturers (OEMs).

🌍 External Factors

Industry Trends

The industry is shifting toward advanced thermal management and digitalization; Banco is positioning itself by upgrading to SAP S/4HANA and investing in next-generation manufacturing technologies.

Competitive Landscape

Competes in the global thermal management and automotive components industry against both domestic and international players.

Competitive Moat

Moat is built on an established track record, high level of operational integration, and long-standing OEM relationships, which are sustainable due to high switching costs in automotive supply chains.

Macro Economic Sensitivity

Highly sensitive to GDP growth and industrial production, as 65% of sales are tied to the cyclical automobile and industrial segments.

Consumer Behavior

Demand is driven by OEM production schedules and industrial capital expenditure cycles rather than direct consumer retail trends.

Geopolitical Risks

Export operations (INR 323 Cr) are subject to trade barriers and regional economic fluctuations, mitigated by a diversified global export base.

⚖️ Regulatory & Governance

Industry Regulations

Adheres to IATF 16949:2016 quality standards and SEBI corporate governance norms; board consists of 7 members with 4 independent directors.

Environmental Compliance

Compliant with The Environment (Protection) Act 1986, The Air Act 1981, and The Water Act 1974; specific ESG costs were not disclosed.

Taxation Policy Impact

Interim dividend of INR 7 per share (350%) is subject to Tax Deduction at Source (TDS) as per the Income Tax Act, 1961.

Legal Contingencies

No specific pending court cases or case values in INR were disclosed in the secretarial audit or financial summaries.

⚠️ Risk Analysis

Key Uncertainties

Commodity price volatility and the cyclical nature of the automotive industry (35% of sales) are the primary uncertainties impacting margin stability.