NSEI:BANCOINDIA

Stock Analysis Report

Banco Products (India)

Executive Summary

Banco Products (India) Limited, together with its subsidiaries, designs, develops, manufactures, and sells automobile components for original equipment manufacturers in India and internationally.

Rewards

PE ratio (10.5x) is below the Indian market (12.9x)

Risk Analysis

Dividend of 8.6% is not well covered by earnings

Profit margins (4.3%) are lower than last year (8.2%)

Does not have a meaningful market cap (₹7B)



Snowflake Analysis

Flawless balance sheet and fair value.


Similar Companies

Share Price & News

How has Banco Products (India)'s share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: BANCOINDIA has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-0.9%

BANCOINDIA

-2.2%

IN Auto Components

-1.3%

IN Market


1 Year Return

-43.7%

BANCOINDIA

-16.5%

IN Auto Components

5.2%

IN Market

Return vs Industry: BANCOINDIA underperformed the Indian Auto Components industry which returned -16.5% over the past year.

Return vs Market: BANCOINDIA underperformed the Indian Market which returned 5.2% over the past year.


Shareholder returns

BANCOINDIAIndustryMarket
7 Day-0.9%-2.2%-1.3%
30 Day-11.9%-0.3%-0.2%
90 Day-6.3%9.8%7.6%
1 Year-39.9%-43.7%-15.6%-16.5%7.2%5.2%
3 Year-41.5%-49.7%-1.2%-3.6%30.3%23.4%
5 Year-28.7%-41.8%17.8%13.4%39.3%26.8%

Price Volatility Vs. Market

How volatile is Banco Products (India)'s share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Banco Products (India) undervalued compared to its fair value and its price relative to the market?

10.53x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: BANCOINDIA (₹94.1) is trading above our estimate of fair value (₹62.38)

Significantly Below Fair Value: BANCOINDIA is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: BANCOINDIA is good value based on its PE Ratio (10.5x) compared to the Auto Components industry average (15.9x).

PE vs Market: BANCOINDIA is good value based on its PE Ratio (10.5x) compared to the Indian market (12.9x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate BANCOINDIA's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: BANCOINDIA is good value based on its PB Ratio (0.8x) compared to the IN Auto Components industry average (1.4x).


Next Steps

Future Growth

How is Banco Products (India) forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

18.7%

Forecasted Automobiles industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Banco Products (India) has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Banco Products (India) performed over the past 5 years?

0.03%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BANCOINDIA has high quality earnings.

Growing Profit Margin: BANCOINDIA's current net profit margins (4.3%) are lower than last year (8.2%).


Past Earnings Growth Analysis

Earnings Trend: BANCOINDIA's earnings have grown by 0.03% per year over the past 5 years.

Accelerating Growth: BANCOINDIA's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: BANCOINDIA had negative earnings growth (-49.2%) over the past year, making it difficult to compare to the Auto Components industry average (-14.7%).


Return on Equity

High ROE: BANCOINDIA's Return on Equity (7.4%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Banco Products (India)'s financial position?


Financial Position Analysis

Short Term Liabilities: BANCOINDIA's short term assets (₹10.8B) exceed its short term liabilities (₹4.0B).

Long Term Liabilities: BANCOINDIA's short term assets (₹10.8B) exceed its long term liabilities (₹722.9M).


Debt to Equity History and Analysis

Debt Level: BANCOINDIA's debt to equity ratio (8.6%) is considered satisfactory.

Reducing Debt: BANCOINDIA's debt to equity ratio has reduced from 9.8% to 8.6% over the past 5 years.

Debt Coverage: BANCOINDIA's debt is well covered by operating cash flow (122.9%).

Interest Coverage: BANCOINDIA earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet

Inventory Level: BANCOINDIA has a high level of physical assets or inventory.

Debt Coverage by Assets: BANCOINDIA's debt is covered by short term assets (assets are 14.7x debt).


Next Steps

Dividend

What is Banco Products (India)'s current dividend yield, its reliability and sustainability?

8.60%

Current Dividend Yield


Dividend Yield vs Market

company8.6%marketbottom25%0.6%markettop25%2.5%industryaverage0.9%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: BANCOINDIA's dividend (8.6%) is higher than the bottom 25% of dividend payers in the Indian market (0.6%).

High Dividend: BANCOINDIA's dividend (8.6%) is in the top 25% of dividend payers in the Indian market (2.48%)


Stability and Growth of Payments

Stable Dividend: BANCOINDIA's dividend payments have been volatile in the past 10 years.

Growing Dividend: BANCOINDIA's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (90.6%), BANCOINDIA's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

What is the CEO of Banco Products (India)'s salary, the management and board of directors tenure and is there insider trading?

2.7yrs

Average management tenure


CEO

Rajendra Anandpara (62yo)

2.7yrs

Tenure

0

Mr. Rajendra Jayantilal Anandpara has been Managing Director at Banco Products (India) Limited since April 27, 2017. Mr. Anandpara served as the Chief Executive Officer of Schaeffler India Limited (Alterna ...


CEO Compensation Analysis

Compensation vs Market: Rajendra's total compensation ($USD0.00) is below average for companies of similar size in the Indian market ($USD33.57K).

Compensation vs Earnings: Insufficient data to compare Rajendra's compensation with company performance.


Management Age and Tenure

2.7yrs

Average Tenure

Experienced Management: BANCOINDIA's management team is considered experienced (2.7 years average tenure).


Board Age and Tenure

5.0yrs

Average Tenure

60.5yo

Average Age

Experienced Board: BANCOINDIA's board of directors are considered experienced (5 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Management Team

  • Dinesh Kavthekar

    Compliance officer & Company Secretary

    • Tenure: 2yrs
    • Compensation: ₹910.00k
  • Rajendra Anandpara (62yo)

    MD & Director

    • Tenure: 2.7yrs
  • P. Allinson

    Managing Director of NEDERLANDSE RADIATEUREN FABR1EK B.V.

    • Tenure: 0yrs
  • Himali Patel (37yo)

    CFO & Whole Time Director

    • Tenure: 4.8yrs
  • Praveen Rao

    President of Sales & Marketing

    • Tenure: 2.7yrs
    • Compensation: ₹10.19m

Board Members

  • Samir Patel (59yo)

    Non-Executive Director

    • Tenure: 36.3yrs
  • Mehul Patel (55yo)

    Non Executive Chairman

    • Tenure: 5.1yrs
  • Ram Devidayal (69yo)

    Non-Executive & Independent Director

    • Tenure: 18.4yrs
    • Compensation: ₹540.00k
  • Mukesh Patel (70yo)

    Non-Executive & Independent Director

    • Tenure: 10.8yrs
    • Compensation: ₹540.00k
  • Rajendra Anandpara (62yo)

    MD & Director

    • Tenure: 2.7yrs
  • Devesh Pathak (62yo)

    Non-Executive Independent Director

    • Tenure: 4.8yrs
    • Compensation: ₹340.00k
  • Udayan Patel (55yo)

    Non-Executive Independent Director

    • Tenure: 4.8yrs
    • Compensation: ₹290.00k
  • Himali Patel (37yo)

    CFO & Whole Time Director

    • Tenure: 4.8yrs

Company Information

Banco Products (India) Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Banco Products (India) Limited
  • Ticker: BANCOINDIA
  • Exchange: NSEI
  • Founded: 1961
  • Industry: Auto Parts and Equipment
  • Sector: Automobiles
  • Market Cap: ₹6.755b
  • Shares outstanding: 71.52m
  • Website: https://www.bancoindia.com

Location

  • Banco Products (India) Limited
  • Bil, Near Bhaili Railway Station
  • Padra Road
  • Vadodara
  • Gujarat
  • 391410
  • India

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
500039BSE (Mumbai Stock Exchange)YesEquity SharesININROct 2004
BANCOINDIANSEI (National Stock Exchange of India)YesEquity SharesININROct 2004

Biography

Banco Products (India) Limited, together with its subsidiaries, designs, develops, manufactures, and sells automobile components for original equipment manufacturers in India and internationally. It offers ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/12/08 12:49
End of Day Share Price2019/12/05 00:00
Earnings2019/09/30
Annual Earnings2019/03/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.