VALUE PICK JANUARY ’18: BANCO PRODUCTS (I) LIMITED
Company Background –
History
Born of an entrepreneurial spirit on 16th March 1961, Banco Products (I) Limited has today carved a niche for itself as a leader in the business of engine cooling and sealing systems both for Automotive and Industrial applications.
Business
- Banco Products (I) Limited is a supplier of high-quality engine cooling components and engine sealing gaskets to the automotive industry for over four decades.
- The product range for engine cooling systems include Radiators, Charge air coolers, Oil coolers – Battery coolers, Fuel coolers, Transmission & hydraulic, Inverter coolers, in Aluminium and cooper (or) brass configurations and accessories expansion tanks, Fan motor assembly, Fan shroud and guard and miscellaneous mounting and plumbing accessories.
- The product range for engine sealing systems include Engine cylinder head and peripheral gaskets, Heat shields and Industrial gasket with a wide material range and sizes for demanding applications of sealing. Material include – Multi layered steel, Graphite composite gaskets, Steel fibre composite gaskets, Compressed fibre joint sheet gaskets, Rubber cork gaskets, Rubber pre-coated beaded gaskets, Edge molded and copper gaskets.
Plants and Subsidiaries
- Banco Products (India) Limited – Bhaili – Spread over an area of 50,000 square meters, the integrated plant at Bhaili produces over 1.5 million cooling system components.
- Banco Products (India) Limited (SEZ Unit) – Baroda – The plant sent up at Special Economic Zone – Waghodia manufactures a wide range of cooling system products for global market.
Clients
The company is an original equipment supplier to Indian automobile majors including Telco, Ashok Leyland, Mahindra & Mahindra, Premier Auto, and Maruti Udyog. It exports its products to Australia, Germany, Singapore and the UK.
Company’s Milestone
1961 – Started as a Private Company
1969 – Engine cooling module for 3000hp traction locomotive
1987 – Listed on the Indian Stock Exchange
1996 – ISO 9002 certificate
2002 – ISO/TS 16949 certification
2003 – Started Aluminium Radiator Production
2007 – Recognized STAR Export House
2010 – Acquired 100% share of NRF B.V. (Netherland)
2012 – Started SEZ plant with capacity to produce 1 million units Per Annum for exports
2013 – New Aluminium radiator plant for Domestic, OEM and After-Market
2014 – Development & Production of all Aluminium Based Products
2015 – Initializing of NRF USA
2016 – Development & Production of EGR (Exhaust Gas Recovery) cololers
Listed On
The company’s shares are listed for trading on National Stock Exchange (NSE) & Bombay Stock Exchange (BSE) in India.
Stock Information
Share Holding Pattern
Banco Products Ltd – Financials
Conclusion –
Considering the techno-funda analysis and sector outlook; Banco Products (I) Limited looks good at Rs 257. FinBlab recommends investing in a stock keeping a long-term view in mind. (One can accumulate on decline also).
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