MSME (Udyam registered) Ministry of MSME
- Category
- Medium (2024-25)
- Udyam number
- UDYAM-GJ-24-0025319
_LIMITED.webp)
Banco Gaskets (India) Limited - machinery and equipment in Vadodara, Gujarat, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹228.84 Cr
▲ 12% YoY
Net profit · FY 2025
₹43.89 Cr
Net margin 19.2%
EBITDA · FY 2025
₹62.45 Cr
EBITDA margin 27.3%
Authorised capital
₹35 Cr
Registered with MCA
Paid-up capital
₹35 Cr
Issued & subscribed
Open charges
₹25 Cr
Satisfied ₹40 Cr
Company age
15 yrs
Est. 2011
Employees · EPFO
235
Provident fund records
About Banco Gaskets (India) Limited
Data last updated:
Banco Gaskets (India) Limited is a public limited company based in Vadodara, Gujarat, India, a subsidiary of Banco Products (India) Limited. It operates in the industrial tools and components segment of the machinery and industrial equipment sector. It was incorporated on 26 August 2011 and has been in existence for over 15 years.
Its director Mehul Kanubhai Patel and family are #602 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U25199GJ2011PLC066886. Its GSTIN is 24AAECB6694C1ZR (Gujarat).
The company has an authorised share capital of ₹35 Cr and a paid-up capital of ₹35 Cr. It is led by directors including Chandan Kumar Das (Whole-Time Director) and Mayank Jayantilal Vyas.
Its last annual general meeting (AGM) was held on 19 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Bil Near Bhaili Railway Station Padra Road, Vadodara, Gujarat, India – 391410.
As per the financials filed for FY 2025, the company reported a revenue of ₹228.84 Cr, a growth of 12% compared to the previous year. For the same year it recorded a net profit of ₹43.89 Cr (net margin 19.2%) and EBITDA of ₹62.45 Cr (EBITDA margin 27.3%). Revenue has grown at a compounded annual rate (CAGR) of 13% over three years and 14% over five years.
The company has about 235 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Banco Products. As per MCA filings, the company has open charges of ₹25 Cr and satisfied charges of ₹40 Cr on record. Court records list 18 cases involving the company, including 6 filed by the company and 12 filed against it; 4 cases are pending. The company has 1 deal on record (1 acquisition); the latest was in March 2012. Its 3 peer companies in the Machinery and Equipment industry (Industrial Products Manufacturers), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment) are compared by revenue, 1 larger and 2 smaller; the largest is Precision Machine & Auto Components Private Limited with revenue of ₹230.1 Cr. The company has 12 MSME Form 1 returns on record between 2019 and 2024, listing 119 overdue payments to 21 micro and small suppliers.
Banco Gaskets (India) Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-GJ-24-0025319). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website bancogaskets.com.
Company details
CIN U25199GJ2011PLC066886
Registration Number 066886
Incorporation Date 26 August 2011
ROC Ahmedabad
Listing Status Unlisted
Company Status Active
Parent Company Banco Products (India) Limited
Compliance Status Active Compliant
MSME Classification Medium
Udyam Registration UDYAM-GJ-24-0025319
Key People
Chandan Kumar Das Whole-Time Director Mayank Jayantilal Vyas Director Shivam Mehul Patel Director Recognitions & Rankings of Banco Gaskets (India)
India's Richest People 2026 edition · 1 director · Source: Hurun India
- #602 Mehul Kanubhai Patel & family ₹5,600 Cr
Contact details
Banco Gaskets (India) Limited's registered office is in Vadodara, Gujarat. Its website is bancogaskets.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressBil Near Bhaili Railway Station Padra Road, Vadodara, Gujarat, India – 391410
- IndustryMachinery and Equipment, Industrial Tools & Components
To see the full contact details of Banco Gaskets (India) Limited, buy the company report.
Comprehensive company report
Banco Gaskets (India) Limited - one report that includes everything
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
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Brands
Banco Gaskets (India) operates one associated brand: Banco Products. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Cooling systems and gaskets are manufactured for vehicles and machinery. | bancoindia.com |
Business activity
The main business activity of Banco Gaskets (India) is manufacturing. In detail, this covers electrical equipment, general purpose and special purpose machinery & equipment, transport equipment.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C10 | Electrical equipment, General Purpose and Special purpose Machinery & equipment, Transport equipment |
To see the full business activity and turnover split of Banco Gaskets (India) Limited, buy the company report.
Financials of Banco Gaskets (India) Limited
FY 2025 filings availableBanco Gaskets (India) Limited reported revenue of ₹228.84 Cr (up 12% YoY) for FY 2025.
Revenue · FY 2025
₹228.84 Cr ▲ 12%
Net profit · FY 2025
₹43.89 Cr margin 19.2%
EBITDA · FY 2025
₹62.45 Cr margin 27.3%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 12%
3 years · compounded
▲ 13%
5 years · compounded
▲ 14%
EBITDA CAGR growth
1 year
▲ 41%
3 years · compounded
▲ 33%
5 years · compounded
▲ 43%
Revenue has grown at a compounded annual rate (CAGR) of 14% over five years, including 12% growth in the latest year. EBITDA rose 41% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | |||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹62.45 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹43.89 Cr | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
| Long-term Borrowings | |||||
| Short-term Borrowings | |||||
| Trade Payables | |||||
| Total Liabilities | |||||
| Fixed Assets | |||||
| Investments | |||||
| Inventories | |||||
| Trade Receivables | |||||
| Cash and Bank Balance | |||||
| Total Assets | |||||
Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 27.3% | ||||
| Net Profit Margin | 19.2% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
| Liquidity and Debt | |||||
| Current Ratio | |||||
| Quick Ratio | |||||
| Debt-to-Equity Ratio | |||||
| Interest Coverage Ratio | |||||
| Efficiency and Growth | |||||
| Asset Turnover | |||||
| Receivable Days | |||||
| Payable Days | |||||
| Inventory Days | |||||
| Revenue Growth | |||||
| Net Profit Growth | |||||
To see the full financial statements and ratios of Banco Gaskets (India) Limited, buy the company report.
Board of directors of Banco Gaskets (India) Limited
Banco Gaskets (India) has 4 current directors and 22 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Mayank Jayantilal Vyas Also directs: Banco New Energy Cooling Systems Limited | Director | 13 Jan 2020 | 6 Years 10 Months | Current |
| Shivam Mehul Patel Also directs: Banco Products (India) Limited, Radhika Advisory Private Limited | Director | 14 Feb 2022 | 4 Years 8 Months | Current |
| Chandan Kumar Das | Whole-Time Director | 21 Jan 2022 | 4 Years 9 Months | Current |
| Mehul K Patel | Director | 26 Aug 2011 | 15 Years 2 Months | Current |
Peer comparison
Banco Gaskets (India) Limited is compared with the 3 companies closest to it by revenue in the Machinery and Equipment industry (Industrial Products Manufacturers), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Precision Machine & Auto Components Private Limited | ₹230.1 Cr (FY 2025) | 11.0% | Chennai, Tamil Nadu, India | |||
| Banco Gaskets (India) Limitedthis company | ₹228.84 Cr (FY 2025) | ₹43.89 Cr | 19.2% | 12.0% | 235 | Vadodara, Gujarat, India |
| Ycube Engineered Solutions Private Limited | ₹228.1 Cr (FY 2025) | 91.0% | New Delhi, Delhi, India | |||
| Adage Automation Private Limited | ₹227.42 Cr (FY 2025) | 23.0% | Navi Mumbai, Maharashtra, India |
To see the full peer comparison of Banco Gaskets (India) Limited, buy the company report.
Auditor
Banco Gaskets (India) Limited is audited by Pradip J. Shah & Co. for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Pradip J. Shah & Co. | FY 2023 | 112845W |
Shareholding
The shareholding of Banco Gaskets (India) Limited is on record for 5 financial years, the latest being FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Banco Gaskets (India) Limited, buy the company report.
Charges & borrowings
Open charges
₹25 Cr
Satisfied charges
₹40 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 13 Feb 2015 | 10553024 | Hdfc Bank Limited | ₹5 Cr | Open | |
| 02 Feb 2015 | 10549573 | State Bank of India | ₹10 Cr | Open | |
| 30 Jan 2015 | 10549750 | Kotak Mahindra Bank Limited | ₹10 Cr | Open | |
| 20 Sep 2012 | 10378374 | State Bank of India - Lead Bank | ₹25 Cr | Satisfied | |
| 21 Jun 2012 | 10364430 | Kotak Mahindra Bank Limited | ₹15 Cr | Satisfied |
To see the full charge records of Banco Gaskets (India) Limited, buy the company report.
Total charge records: 5 View all charges
Deals & funding
Banco Gaskets (India) Limited has 1 deal on record (1 acquisition); the latest was in March 2012.
Total deals
1
Acquisition
1
Deals on record (1 of 1)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2012 | Acquisition | ₹34.95 Cr | Buyer: Banco Products (India) Limited |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Banco Gaskets (India) Limited has 18 court cases on record: 6 filed by Banco Gaskets (India), 12 filed against it. 4 cases are pending and 14 are disposed.
Total cases
18
Filed by the company
6
Filed against the company
12
Pending
4
Disposed
14
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 14 | 10 | 4 |
| High courts | 4 | 2 | 0 |
Cases on record (5 of 18)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Vadodara, Gujarat | Commercial matter | Filed by the company against Global Transportation Services Private Limited | Disposed |
| District court, Vadodara, Gujarat | Court case (SPCS) | Filed by the company against Global Transportation Services Private Limited | Disposed |
| District court, BENGALURU, Karnataka | Court case (I.C.) | Filed against the company by M/S Sawhney Agencies and 4 others | Pending |
| District court, Vadodara, Gujarat | Court case (REF IT) | Filed against the company by an individual | Pending |
| District court, Vadodara, Gujarat | Court case (REF IT) | Filed against the company by an individual | Pending |
To see the full case history of Banco Gaskets (India) Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME payment delays
Banco Gaskets (India) Limited has 12 MSME Form 1 returns on record between 2019 and 2024, listing 119 overdue payments to 21 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 21)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | |||
| an individual supplier | |||
| Deepdeal Electricals Private Limited | |||
| A.H.Rollwala Agency | |||
| an individual supplier |
To see the full MSME payment records of Banco Gaskets (India) Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Banco Gaskets (India) Limited has a workforce of 235 employees on its EPFO records as of May 2026, across 2 active EPFO establishments.
Employee count
235
Active EPFO establishments
2
Employee growth
8.8%
Headcount by financial year
| Financial year | Employees (EPFO) |
|---|---|
| FY 2026-27 | 235 |
| FY 2025-26 | |
| FY 2024-25 | |
| FY 2023-24 | |
| FY 2022-23 | |
| FY 2021-22 | |
| FY 2020-21 | |
| FY 2019-20 | |
| FY 2018-19 | |
| FY 2017-18 | |
| FY 2016-17 | |
| FY 2015-16 | |
| FY 2014-15 | |
| FY 2013-14 |
To see the full employee and EPFO history of Banco Gaskets (India) Limited, buy the company report.
GST
Banco Gaskets (India) has 1 GST registration: 1 active.
Total GSTINs
1
Active
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AAECB6694C1ZR | Gujarat | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Banco Gaskets (India) Limited, buy the company report.
Recent activity
Banco Gaskets (India) Limited has 18 board changes on record since 2011: 4 appointments and 14 cessations. The latest: Bharat Champaneriya ceased to be Director on 12 Nov 2022.
AGM
Banco Gaskets (India) Limited last Annual general meeting of members was held on 19 Sep 2025 as per latest MCA records.
Filing
Banco Gaskets (India) Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Ahmedabad.
Ceased
Bharat Champaneriya ceased to be Director.
Ceased
Shivam Mehul Patel ceased to be Additional Director.
Ceased
Preeti Girishkumar Nair ceased to be Director.
Appointed
Shivam Mehul Patel was appointed as Director.
Appointed
Chandan Kumar Das was appointed as Whole-Time Director.
Ceased
Chandan Kumar Das ceased to be Additional Director.
Ceased
Mayank Jayantilal Vyas ceased to be Director.
Ceased
Samir Kanubhai Patel ceased to be Director.
Ceased
Manisha Rameshbhai Phadke ceased to be Director.
Ceased
Yogeshkumar Jayantilal Shah ceased to be Director.
16 earlier events are in the company report.
Frequently asked questions
Banco Gaskets (India) is an active public limited company based in Vadodara, Gujarat, India. The company works in industrial tools and components, within the machinery and equipment industry. It was incorporated on 26 August 2011 (15+ years old) and is registered under CIN U25199GJ2011PLC066886.
Banco Gaskets (India) has 4 current directors:
- Chandan Kumar Das - Whole-Time Director
- Mayank Jayantilal Vyas - Director
- Shivam Mehul Patel - Director
- Mehul K Patel - Director
The latest financial statements of Banco Gaskets (India) on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 19 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Banco Gaskets (India) is 24AAECB6694C1ZR, registered in Gujarat.
The CIN (Corporate Identification Number) of Banco Gaskets (India) is U25199GJ2011PLC066886. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Banco Gaskets (India) has 18 court cases on record: 6 filed by the company and 12 filed against it. 4 are pending. Most are in the district courts.
Banco Gaskets (India) was incorporated on 26 August 2011, making it 15+ years old. It is registered with the Registrar of Companies, Ahmedabad.
Banco Gaskets (India) has 1 deal on record (1 acquisition); the latest was in March 2012.
The peers of Banco Gaskets (India) by revenue are Precision Machine & Auto Components Private Limited, Ycube Engineered Solutions Private Limited, Adage Automation Private Limited, all in the Machinery and Equipment industry (Industrial Products Manufacturers), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment).
Bharat Champaneriya ceased to be Director on 12 Nov 2022. Shivam Mehul Patel ceased to be Additional Director on 22 Sep 2022. Preeti Girishkumar Nair ceased to be Director on 21 Sep 2022. Banco Gaskets (India) has 18 board changes on record in total.
Yes, Banco Gaskets (India) is registered as a medium enterprise under Udyam registration (number: UDYAM-GJ-24-0025319).
Banco Gaskets (India) has 12 MSME Form 1 returns on record between 2019 and 2024, listing 119 overdue payments to 21 micro and small suppliers. The latest return was filed on 27 Apr 2024.
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