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Published: Feb 14, 2023
Updated: Feb 14, 2023

Banco Products India Ltd. Rally Continues on Strong Q3 Earnings

Banco Products India Ltd., a small-cap company in the consumer discretionary industry, saw its shares close 9.27% higher at ₹235.25 on the NSE following the announcement of its Q3 earnings and a 400% dividend declaration. With a market worth of ₹1,673.54 Cr, Banco Products is a leading firm in the field of engine cooling and sealing systems for both industrial and automotive applications.

Staggering YoY Growth in Q3 Results

The company recorded consolidated net profit growth of 474.44% YoY in the quarter ended December 2022, reaching ₹98.23 crore compared to ₹17.10 crore in the same quarter of the previous year. The company posted net sales of ₹501.69 crore in Q3FY23, a YoY growth of 27.78%, and recorded net expenses of ₹384.48 crore against ₹371.47 crore in the year-ago quarter. On a standalone basis, Banco Products saw a net profit growth of 119.98% YoY in Q3FY23, reaching ₹33.02 crore compared to ₹15.01 crore in the same quarter of the previous year.

Declaration of 400% Dividend

The Board of Directors of Banco Products declared an interim dividend of Rs. 8/- (400%) per equity share of ₹2.00 each for the financial year ending 31st March, 2023. The record date for the purpose of payment of the interim dividend has been fixed as 25th February, 2023, and the dividend will be paid on or after 9th March, 2023.

Shares soar 9.27% boosting shareholders confidence

Banco Products India Ltd.'s Q3 results, combined with the declaration of a 400% dividend, have sent the company's shares soaring by 9.27%. With YoY growth in net profit and sales, Banco Products continues to impress in the consumer discretionary industry. The company's commitment to providing value to its shareholders is evident through its continued financial performance and generous dividend declaration.