Banco Products

Vadodara, India Founded: 1961 • Age: 65 yrs Listed
Cooling systems and gaskets are manufactured for vehicles and machinery.
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About Banco Products

Banco Products is a publicly listed company based in Vadodara (India) founded in 1961. Cooling systems and gaskets are manufactured for vehicles and machinery. The company has 3,700 employees. Banco Products has completed 1 acquisition, including NRF. Its website bancoindia.com draws about 12 thousand monthly visits. Its Indian entity Banco Products (India) Limited reported revenue of ₹4,016 Cr. Its focus areas include Auto, Auto Components, Thermal System and Engine Cooling System.

Company details

Banco Products was established in 1961 in Vadodara, India, as a manufacturer in the automotive and industrial components sector. Radiators, intercoolers, and oil coolers are produced for passenger cars, light and heavy commercial vehicles, agricultural tractors, power generation equipment, earth-moving machinery, and rail locomotives. Gaskets are also included in the product range, with operations focused on domestic and export markets.

  • Headquarters Vadodara, India
  • Employees 3,700
  • Stage Public
  • Sectors
    Transportation, Automotive & Logistics
  • Email
    ••••••••
  • Phone
    •••• ••••
  • Website bancoindia.com
  • Social LinkedIn X Facebook YouTube
  • Legal Name Banco Products (India) Limited
Operational Areas
Transportation, Automotive & Logistics → Automotive Manufacturing & Components
Key Metrics
  • Market Cap
    ₹9,606 Cr

    BANCOINDIA · NSE

  • Share Price
    ₹676.55

    +0.74% today

  • Revenue
    ₹3,896 Cr

    FY 2025-26 · +21.3% YoY

  • EBITDA
    ₹684 Cr

    Margin 17.5%

  • Net Profit
    ₹452 Cr

    FY 2025-26 · +22.2% YoY

  • P/E (TTM)
    18.5x

    P/B 5.1x

  • ROE
    32.3%

    ROCE 31.5%

  • Debt / Equity
    0.40

    Interest cover 4.5x

  • Employee Count
    3,700
  • Investments & Acquisitions
    NRF

Apps and channels of Banco Products

its YouTube channel Banco Products India Ltd. has 197 subscribers.

Banco Products India Ltd.
YouTube 197 subscribers
Open channel

Board of directors of Banco Products (India) Limited (Banco Products)

Banco Products (India) Limited is the primary company behind Banco Products. The boards of the 2 registered companies of Banco Products currently have 9 directors; the longest-serving is Mehul K Patel, appointed in 1990. 48 earlier directors have ceased.

DirectorDesignationAppointedTenureEntity
Mehul K Patel
DIN 01772099
Director08 Feb 199036 yrs 9 moBanco Products (India) Limited, Banco Gaskets (India) Limited
Mayank Jayantilal Vyas
DIN 08666512
Director13 Jan 20206 yrs 9 moBanco Gaskets (India) Limited
Ameeta Vikas Manohar
DIN 00903232
Director25 Apr 20206 yrs 6 moBanco Products (India) Limited
Sharan Mehul Patel
DIN 09151194
Whole-time director22 Apr 20215 yrs 6 moBanco Products (India) Limited
Chandan Kumar Das
DIN 09464938
Whole-time director21 Jan 20224 yrs 9 moBanco Gaskets (India) Limited
Shivam Mehul Patel
DIN 09501828
Director07 Aug 20233 yrs 3 moBanco Products (India) Limited, Banco Gaskets (India) Limited
Tarak Patel
DIN 00009568
Director05 Feb 20242 yrs 9 moBanco Products (India) Limited
Pranav Rohit Patel
DIN 00259728
Director08 Feb 20251 yr 9 moBanco Products (India) Limited
Anand Majmudar
DIN 03019026
Director08 Feb 20251 yr 9 moBanco Products (India) Limited

People of Banco Products

6 people are tracked at Banco Products (5 in leadership, 1 in team); the tracked headcount is 3,700.

NameRoleGroup
Mehul K Patel
Managing DirectorLeadership
Sharan Patel
Executive DirectorLeadership
Sujith Ramankutty
President - Marketing - OE - Domestic And ExportsLeadership
Ritunch Gupta
Vice President Sales MarketingLeadership
Snehalkumar Shah
Head Of Internal Audit DepartmentLeadership
Archita Patel
Sr. Officer EHSTeam
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Complete people profiles for Banco Products

Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.

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  • Team structure
  • Board tenure
  • Professional contacts

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IPO & Listings of Banco Products

Banco Products is a publicly listed company on the NSE with ticker symbol BANCOINDIA in India, operating in the Producer manufacturing sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.

  • IPO date22 Dec 2006
  • Listed onNSE: BANCOINDIA
  • Listed entityBanco Products (India) Limited
  • Exchange sectorProducer manufacturing
  • ISININE213C01025
  • Share price₹600.85 (+1.8% on the day) · 2026-10-14
  • Market capitalisation₹8,441 Cr
  • Price to earnings17.4
  • EPS (diluted, trailing year)₹34.57
  • Dividend yield3.9%
  • Volume (last session)59,563

Financials of Banco Products

Exchange-reported figures of Banco Products (India) Limited, the listed company behind Banco Products (NSE: BANCOINDIA).

Financial Highlights

FY 2025-26 · Consolidated
Revenue
₹3,896 Cr
+21.3% YoY
EBITDA
₹684 Cr
+11.9% YoY
Profit After Tax
₹452 Cr
+22.2% YoY
Net Worth
₹1,684 Cr
+29.3% YoY
Total Assets
₹2,338 Cr
+22.4% YoY
Total Debt
₹614 Cr
+7.0% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue3,8963,2132,7682,3321,9581,5331,422
Revenue growth+21.3%+16.0%+18.7%+19.1%+27.8%+7.8%-
EBITDA684611422364272178122
EBITDA margin+17.5%+19.0%+15.3%+15.6%+13.9%+11.6%+8.6%
Profit before tax644534363311224150111
Net profit45236927623715211473.15
Net profit margin+11.6%+11.5%+10.0%+10.2%+7.8%+7.4%+5.1%
EPS (₹)33.6827.3937.9532.9421.3115.9010.71
Balance sheet
Total assets2,3381,9101,5001,4301,119850809
Net worth1,6841,3031,0521,002982828710
Total debt61457342341811514.2391.65
Cash & bank80.7711963.4618.3381.5712370.43
Net working capital1,7871,3921,0561,076827685625
Cash flow
Cash from operations380164458(41.46)57.2415752.12
Cash from investing(175)(38.26)(114)(23.37)(104)(58.72)149
Cash from financing(189)(123)(339)58.71(11.24)(78.19)(153)
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue1,2651,1841,0997891,038970875639
Revenue growth (YoY)+21.8%+22.0%+25.6%+23.5%+16.0%+20.7%--
Other income5.735.7220.3727.4358.5313.7618.795.28
EBITDA26321322512514918221458.33
EBITDA margin+20.9%+18.2%+20.6%+16.0%+14.5%+18.9%+24.7%+9.2%
Depreciation35.6235.0559.6125.6724.8624.3735.5119.99
Interest6.925.20(0.37)7.668.237.067.894.68
Profit before tax22617918611917516419038.94
Tax60.4056.2338.7933.1635.8054.7336.178.01
Net profit16512214785.8313911015430.93
EPS (₹)11.568.5610.314.739.717.6610.732.16
MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue1,2451,1051,0111,004795654598
Revenue growth+12.7%+9.3%+0.8%+26.2%+21.7%+9.2%-
EBITDA20819618117010111774.40
EBITDA margin+16.7%+17.7%+17.9%+16.9%+12.7%+17.9%+12.4%
Profit before tax470311297281110104101
Net profit41726425524585.5580.0266.04
Net profit margin+33.5%+23.9%+25.2%+24.4%+10.8%+12.2%+11.0%
EPS (₹)29.2818.6135.6934.3311.9811.199.72
Balance sheet
Total assets1,066867756739693623542
Net worth1,054851742731685615535
Total debt0.007.104.640.230.042.652.58
Cash & bank72.0511325.8116.0467.1410760.51
Net working capital614469421409389345250
Cash flow
Cash from operations16195.1215468.041.3659.3159.05
Cash from investing73.4566.2292.80127(40.93)(37.72)182
Cash from financing(215)(160)(244)(201)(14.66)(0.62)(194)
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue374342355301288301308257
Revenue growth (YoY)+30.1%+13.5%+15.2%+17.1%+1.9%+17.2%--
Other income32.632.881664.6310911.0410235.34
Total expenses308278299257240242251214
EBITDA66.3764.1056.4744.3147.6759.5757.2542.71
EBITDA margin+18.0%+19.1%+16.1%+15.0%+16.8%+20.1%+18.8%+16.9%
Depreciation7.627.417.327.266.916.756.976.76
Interest0.260.07(0.08)0.210.420.140.250.27
Profit before tax91.1259.5021541.4714963.7215271.02
Tax15.6614.9913.5610.1811.4915.8214.687.82

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 12 Nov 2026
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue1,2651,1841,0997891,038970875639
Revenue growth (YoY)+21.8%+22.0%+25.6%+23.5%+16.0%+20.7%--
Other income5.735.7220.3727.4358.5313.7618.795.28
EBITDA26321322512514918221458.33
EBITDA margin+20.9%+18.2%+20.6%+16.0%+14.5%+18.9%+24.7%+9.2%
Depreciation35.6235.0559.6125.6724.8624.3735.5119.99
Interest6.925.20(0.37)7.668.237.067.894.68
Profit before tax22617918611917516419038.94
Tax60.4056.2338.7933.1635.8054.7336.178.01
Net profit16512214785.8313911015430.93
EPS (₹)11.568.5610.314.739.717.6610.732.16
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue3,8963,2132,7682,3321,9581,5331,422
Revenue growth+21.3%+16.0%+18.7%+19.1%+27.8%+7.8%-
Other income12043.0237.7315.685.159.0325.17
Total expenses3,2132,6012,3461,9681,6861,3541,300
Employee cost452335282229196186192
EBITDA684611422364272178122
EBITDA margin+17.5%+19.0%+15.3%+15.6%+13.9%+11.6%+8.6%
Depreciation13594.3475.9956.3547.8733.6832.77
Interest25.0025.6321.3612.585.263.623.10
Profit before tax644534363311224150111
Tax16214291.3075.2571.3436.1134.90
Net profit45236927623715211473.15
Net profit margin+11.6%+11.5%+10.0%+10.2%+7.8%+7.4%+5.1%
EPS (₹)33.6827.3937.9532.9421.3115.9010.71
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital28.6128.6114.3014.3014.3014.3014.30
Reserves & surplus1,6561,2741,037987967814696
Shareholders' funds (net worth)1,6841,3031,0521,002982828710
Minority interest0.000.000.000.000.000.000.00
Secured loans42831822229219.3313.7291.65
Unsecured loans18625520112695.890.510.00
Total debt61457342341811514.2391.65
Total liabilities2,3381,9101,5001,4301,119850809
Assets
Gross block1,3361,2241,072904783726711
Net block472516454359297190193
Capital work in progress11.275.159.8218.4714.921.032.62
Investments78.5538.100.000.000.510.819.21
Inventories1,4981,381922995720564476
Sundry debtors738611481413324270294
Cash & bank balances80.7711963.4618.3381.5712370.43
Loans & advances14860.2839.6228.8134.5026.9617.55
Total current assets2,4652,1721,5061,4561,161984858
Total current liabilities678780450380334299233
Net working capital1,7871,3921,0561,076827685625
Total assets2,3381,9101,5001,4301,119850809
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash14.7411.796.7912.9171.2051.312.25
Net cash from operating activities380164458(41.46)57.2415752.12
Net cash from investing activities(175)(38.26)(114)(23.37)(104)(58.72)149
Net cash from financing activities(189)(123)(339)58.71(11.24)(78.19)(153)
Net change in cash15.922.955.00(6.13)(58.29)19.9049.06
Closing cash80.7711963.4618.3381.5712370.43
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+21.3%+16.0%+18.7%+19.1%+27.8%+7.8%-
EBITDA growth+11.9%+44.7%+16.0%+34.0%+52.6%+45.8%-
PBT growth+20.6%+47.3%+16.7%+38.9%+49.3%+34.4%-19.4%
Net income growth+22.2%+34.0%+16.5%+55.8%+33.5%+55.6%-
Revenue CAGR (3Y)+18.7%+18.0%+21.8%+17.9%+7.7%+4.7%+4.7%
EBITDA CAGR (3Y)+23.4%+31.0%+33.4%+43.9%+19.0%-0.1%-5.3%
Profitability & leverage
Net income margin+12.4%+12.2%+9.8%+10.1%+7.8%+7.4%+5.4%
Return on capital employed+31.5%+32.9%+26.2%+25.4%+23.3%+18.5%+13.6%
Return on net worth+32.3%+33.3%+26.5%+23.8%+16.9%+14.8%+9.9%
Debt / equity0.400.420.410.270.070.070.09
Long-term debt / equity0.130.190.170.120.050.010.01
Interest cover4.554.966.174.092.352.513.47
Efficiency & per share
Fixed asset turnover3.052.802.802.772.602.132.09
Inventory turnover2.712.792.892.723.052.952.98
Debtors turnover5.785.886.196.326.595.445.03
EPS (₹)33.6827.3937.9532.9421.3115.9010.71
Dividend per share (₹)8.0011.0020.0022.0020.002.0020.00
Book value per share (₹)117.7291.05146.95139.96137.19115.7699.20
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue374342355301288301308257
Revenue growth (YoY)+30.1%+13.5%+15.2%+17.1%+1.9%+17.2%--
Other income32.632.881664.6310911.0410235.34
Total expenses308278299257240242251214
EBITDA66.3764.1056.4744.3147.6759.5757.2542.71
EBITDA margin+18.0%+19.1%+16.1%+15.0%+16.8%+20.1%+18.8%+16.9%
Depreciation7.627.417.327.266.916.756.976.76
Interest0.260.07(0.08)0.210.420.140.250.27
Profit before tax91.1259.5021541.4714963.7215271.02
Tax15.6614.9913.5610.1811.4915.8214.687.82
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue1,2451,1051,0111,004795654598
Revenue growth+12.7%+9.3%+0.8%+26.2%+21.7%+9.2%-
Other income29114414213229.058.0546.49
Total expenses1,037909831834694537524
Employee cost85.5567.1955.1951.4142.4035.8337.97
EBITDA20819618117010111774.40
EBITDA margin+16.7%+17.7%+17.9%+16.9%+12.7%+17.9%+12.4%
Depreciation28.2426.2224.2721.1119.7419.9820.00
Interest0.882.681.280.350.360.620.35
Profit before tax470311297281110104101
Tax51.0544.9542.1235.4124.3424.2531.04
Net profit41726425524585.5580.0266.04
Net profit margin+33.5%+23.9%+25.2%+24.4%+10.8%+12.2%+11.0%
EPS (₹)29.2818.6135.6934.3311.9811.199.72
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital28.6128.6114.3014.3014.3014.3014.30
Reserves & surplus1,025822728716671601521
Shareholders' funds (net worth)1,054851742731685615535
Secured loans0.007.104.640.230.042.652.58
Unsecured loans0.000.000.000.000.000.000.00
Total debt0.007.104.640.230.042.652.58
Total liabilities1,066867756739693623542
Assets
Gross block506465430404368342324
Net block177164153150134126128
Capital work in progress4.142.038.112.036.270.021.51
Investments236221160155151147155
Inventories279277261249196156102
Sundry debtors300269202231194169147
Cash & bank balances72.0511325.8116.0467.1410760.51
Loans & advances12216.3827.3912.0113.8914.754.94
Total current assets774676516508471445315
Total current liabilities16020695.0298.7982.1310164.44
Net working capital614469421409389345250
Total assets1,066867756739693623542
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash9.338.025.5111.1865.4144.43(2.55)
Net cash from operating activities16195.1215468.041.3659.3159.05
Net cash from investing activities73.4566.2292.80127(40.93)(37.72)182
Net cash from financing activities(215)(160)(244)(201)(14.66)(0.62)(194)
Net change in cash18.951.322.51(5.67)(54.23)20.9846.98
Closing cash72.0511325.8116.0467.1410760.51
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+12.7%+9.3%+0.8%+26.2%+21.7%+9.2%-
EBITDA growth+6.2%+8.6%+6.2%+68.2%-13.5%+57.0%-
PBT growth+51.0%+4.7%+5.8%+155.4%+5.5%+3.7%-42.2%
Net income growth+57.9%+3.6%+4.0%+186.8%+6.9%+21.2%-
Revenue CAGR (3Y)+7.5%+11.6%+15.7%+18.8%+2.6%+1.8%+5.5%
EBITDA CAGR (3Y)+7.0%+24.7%+15.6%+31.7%-0.1%+7.4%-7.2%
Profitability & leverage
Net income margin+33.6%+24.1%+25.2%+24.5%+10.8%+12.3%+11.6%
Return on capital employed+48.7%+38.7%+40.0%+39.3%+16.8%+18.0%+16.7%
Return on net worth+44.0%+33.5%+34.7%+34.7%+13.2%+13.9%+11.6%
Debt / equity0.000.010.000.000.000.000.00
Long-term debt / equity0.000.000.000.000.000.000.00
Interest cover0.491.580.820.240.440.640.64
Efficiency & per share
Fixed asset turnover2.572.472.432.602.241.971.90
Inventory turnover4.474.103.974.514.525.075.22
Debtors turnover4.384.704.674.724.394.154.30
EPS (₹)29.2818.6135.6934.3311.9811.199.72
Dividend per share (₹)8.0011.0020.0022.0020.002.0020.00
Book value per share (₹)73.6259.43103.71102.1095.7785.9474.71

Investments & Acquisitions by Banco Products

Banco Products has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include NRF.

Acquisitions
Company NameDescriptionDomainLocationFoundedAcquiredAmount
NRF
NRF is recognized as a leading supplier of automotive aftermarket parts and industrial cooling solutions.
nrf.euMill, Netherlands1927Feb 2010$23.93M
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Complete acquisition details for Banco Products

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  • Acquired stakes
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  • Exports

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Timeline of Banco Products

3 dated milestones of Banco Products across 49 years, from founding to its latest funding, stage changes and deals.

  1. Founded Banco Products is founded.
  2. IPO Lists on the stock exchange (IPO).
  3. Acquisition Acquires NRF.

Web traffic of Banco Products

The website of Banco Products (bancoindia.com) receives about 11.8K visits a month.

  • Monthly visits
    11.8K

    ▲ 35.7% vs previous month

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Top companies in Automotive Manufacturing & Components

3 companies that operate in the same segment as Banco Products (Automotive Manufacturing & Components) in India, ranked by their profile score on The Company Check.

CompanyDescriptionFoundedLocationTotal fundingRevenueEmployees
SEDEMAC
Electrical and electronic parts for automobiles are provided by SEDEMAC.
2007Pune, Maharashtra, IndiaUSD 26.22 MUSD 32.69 M415
Mahindra Last Mile Mobility
Manufacturer of petrol, CNG, diesel and electric last mile mobility 3 & 4 wheelers, passenger, and cargo vehicles
1994Mumbai, Maharashtra, IndiaUSD 137.89 MUSD 24.41 B33,980
Greenfuel Energy Solutions
Lithium-ion batteries for electric vehicles are manufactured across categories.
2006Gurugram, Haryana, IndiaUSD 34.18 M177
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Related news about Banco Products

BANCOINDIA: Q2 REVENUE 12.5B RUPEES VS 10.31B (YOY)
Exchange Update • 6 days ago
BANCOINDIA: Q2 CONS NET PROFIT 1.65B RUPEES VS 1.39B (YOY)
Exchange Update • 6 days ago
BANCOINDIA: Q2 EBITDA 2.6B RUPEES VS 1.49B (YOY); Q2 EBITDA MARGIN 20.69% VS 14.47% (YOY)
Exchange Update • 6 days ago
Banco Products (India) Declares Dividend Of 8 Rupees Per Share
Reuters • 5 months ago
Banco Products (India) Declares Second Interim Dividend Of 8 Rupees Per Share
Reuters • 8 months ago
Banco Products (India) Sept-Quarter Consol Net Profit 1.39 Billion Rupees
Reuters • 12 months ago
Banco Products (India) Says NRF Holding Reports Fire At NRF France S.A.S. Warehouse
Reuters • 1 year ago
Banco Products (India) Reports June Quarter Consol Net Profit 1.1 Bln Rupees
Reuters • 1 year ago
India's Banco Products set for best day in six months after Q4 profit doubles
Reuters • 1 year ago
Banco Products (India) Says NRF Enters Asset Deal With Alanko For Turbocharger Business
Reuters • 1 year ago
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Frequently Asked Questions about Banco Products

Banco Products was founded in 1961.

Banco Products is headquartered in Vadodara, India. It is registered at Vadodara, Gujarat, India.

Banco Products has 3,700 employees.

The primary company behind Banco Products, Banco Products (India) Limited, reported revenue of ₹4,016 Cr for FY 2026, up 21% year on year.

Banco Products was established in 1961 in Vadodara, India, as a manufacturer in the automotive and industrial components sector. Radiators, intercoolers, and oil coolers are produced for passenger cars, light and heavy commercial vehicles, agricultural tractors, power generation equipment, earth-moving machinery, and rail locomotives. Gaskets are also included in the product range, with operations focused on domestic and export markets.

Yes, Banco Products is publicly traded on NSE under the ticker symbol BANCOINDIA.

Banco Products has made 1 acquisition, including NRF.

Banco Products is associated with 3 legal entities: Banco Products (India) Limited, Banco Products (India) Ltd., Banco Gaskets (India) Limited.

The legal entities of Banco Products currently have 12 directors, including Mehul K Patel, Ameeta Vikas Manohar, Sharan Mehul Patel and others.

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