with market value 1,673.54 Crore, Banco Products India Limited is a Small-cap company operating in the Consumer Discretionary industry. In the field of engine cooling and sealing systems for both industrial and automotive applications, the firm is a pioneer. Following today’s announcement of the company’s third quarter earnings and 400% dividend to its eligible shareholders, the stock closed with an upside margin of 9% on the NSE.
The company said in a stock exchange filing that “The Board of Directors has declared an interim dividend of Rs 8/- per equity share (400%). 2.00. For every financial year ending 31st March, 2023. The Company has fixed February 25, 2023 as the record date for the purpose of payment of interim dividend. The declared interim dividend will be paid on or after March 9, 2023.”
On Consolidated Basis, Banco Products (India) Net Profit Up 474.44% YoY 98.23 crore in the quarter ending December 2022 17.10 crore during the quarter ending December 2021. The company posted net sales 501.69 cr in Q3FY23 as compared to Rs. 392.63 Cr in Q3FY22, representing a YoY growth of 27.78%. Company recorded net expense 384.48 crore against 371.47 crore in the year-ago quarter. Banco Products India’s EPS reached 13.73 on consolidated basis as compared to Q3FY23 2.39 in Q3FY22.
Net sales of the company on a standalone basis reached 231.46 cr in Q3FY23 as compared to Rs. 183.96 Cr in Q3FY22, representing a YoY growth of 25.82%. The company recorded a net profit of 33.02 crore in the quarter ending December 2022 15.01 Cr over the year-ago quarter, representing a YoY growth of 119.98%. The EPS of Banco Products was as compared to 4.62 in Q3FY23 2.10 in the year-ago quarter.
Banco Products shares closed on NSE today up 9.27% from previous close of 235.25 215.30.
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