Banco Products climbs over 14 per cent owing to excellent results

Banco Products on Aug 2, as at 12.23 pm is currently trading at Rs 199.25, up by 14.14 per cent on an intraday basis. Company on Aug 1, post market hours has declared its Q1FY17 results. In Q1FY17, company has posted excellent results in this quarter. Total income from operations stands at Rs 385.75 crores, which is up 21 per cent as compared to Q1FY16. EBITDA stands at Rs 53.81 crores, which has surged by 20 per cent. Net profits stand at Rs 40.65 crores which have increased by 46 per cent as compared to the corresponding quarter of the previous fiscal.

Shares of the company have enjoyed good momentum over the months. Shares in the last one month have gained over 24 per cent. In the last 3 months the shares have given a return of Rs 53 per cent making it one of the prime stock in the small cap. 52-week High/Low stands at Rs 207.90/90.3.

Banco Products (India) Limited, is a company that is engaged in the business of manufacturing gaskets and radiators. The company also exports aftermarket radiators. The product portfolio of the company includes radiators, air coolers, rubber cork gaskets, aluminium edge moulded gaskets, steel fibre composite gaskets and many more. These products are considered critical components in sealing and cooling applications of automotive, power, earthmoving and industrial engines.