Banco Products Share Price ₹604 | P/E 18.3

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of Banco Products

Quarter-by-quarter operating performance

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales +	509	609	749	725	571	724	804	895	639	875	970	1,038	789
Expenses +	369	511	653	602	482	610	671	689	581	660	788	889	664
Operating Profit	140	98	97	122	89	114	133	206	58	214	182	149	125
OPM %	28%	16%	13%	17%	16%	16%	17%	23%	9%	24%	19%	14%	16%
Other Income +	1	3	16	3	12	6	2	17	5	19	14	59	27
Interest	3	7	5	6	4	7	7	6	5	8	7	8	8
Depreciation	13	20	15	16	17	28	19	19	20	36	24	25	26
Profit before tax	126	74	93	104	81	86	109	197	39	190	164	175	119
Tax %	22%	31%	26%	36%	15%	20%	37%	30%	21%	19%	33%	20%	28%
Net Profit +	98	51	69	66	68	68	69	139	31	154	110	139	86
EPS in Rs	6.87	3.57	4.81	4.62	4.78	4.77	4.80	9.70	2.16	10.73	7.66	9.71	6.00

Financials of Banco Products

Annual income statement trend

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales +	1,116	1,129	1,148	1,239	1,336	1,567	1,422	1,533	1,958	2,332	2,768	3,213	3,672
Expenses +	951	1,027	1,002	1,096	1,157	1,405	1,300	1,354	1,686	1,966	2,340	2,601	3,002
Operating Profit	165	102	146	144	179	161	122	178	272	366	428	611	670
OPM %	15%	9%	13%	12%	13%	10%	9%	12%	14%	16%	15%	19%	18%
Other Income +	9	53	11	32	18	10	25	9	5	14	32	43	119
Interest	19	8	3	2	2	4	3	4	5	13	21	26	31
Depreciation	32	34	35	33	28	29	33	34	48	56	76	94	110
Profit before tax	122	113	119	141	167	138	111	150	224	311	363	534	648
Tax %	26%	22%	25%	31%	30%	50%	31%	24%	32%	24%	25%	27%
Net Profit +	90	88	90	97	117	69	77	114	152	236	271	392	488
EPS in Rs	6.28	6.13	6.29	6.80	8.17	4.83	5.36	7.95	10.66	16.47	18.98	27.39	34.10
Dividend Payout %	16%	24%	37%	66%	61%	83%	187%	13%	94%	67%	53%	40%

Financials of Banco Products

Capital structure and asset base

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	14	14	14	14	14	14	14	14	14	14	14	29	29
Reserves	574	605	674	705	793	818	696	814	967	987	1,037	1,274	1,606
Borrowings +	172	36	36	38	34	40	92	14	115	418	423	573	729
Other Liabilities +	183	164	232	211	356	322	287	344	405	435	508	868	714
Total Liabilities	944	819	956	969	1,197	1,195	1,089	1,187	1,502	1,855	1,982	2,744	3,078
Fixed Assets +	243	227	221	192	191	184	193	190	297	359	454	516	484
CWIP	12	11	3	4	13	13	3	1	15	18	10	5	16
Investments	71	1	1	91	24	69	9	1	1	0	0	38	76
Other Assets +	618	581	731	682	969	929	883	995	1,190	1,477	1,518	2,185	2,501
Total Assets	944	819	956	969	1,197	1,195	1,089	1,187	1,502	1,855	1,982	2,744	3,078

Financials of Banco Products

Operating, investing and financing cash movement

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity +	131	85	68	90	99	62	52	157	57	-41	458	164
Cash from Investing Activity +	-42	88	-17	-59	-22	-52	149	-59	-104	-23	-114	-73
Cash from Financing Activity +	-82	-136	-6	-61	-68	-49	-153	-78	-11	59	-339	-89
Net Cash Flow	7	36	46	-30	9	-39	49	20	-58	-6	5	3
Free Cash Flow	84	61	48	89	49	21	26	125	-15	-135	363	86
CFO/OP	100%	110%	70%	97%	90%	77%	72%	103%	39%	13%	128%	45%

Financials of Banco Products

Working capital efficiency and return ratios

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	70	57	70	60	70	63	75	64	60	65	63	69
Inventory Days	172	152	190	171	217	191	212	234	225	271	210	289
Days Payable	57	39	71	51	90	102	99	118	95	95	90	128
Cash Conversion Cycle	184	170	189	180	197	152	188	180	191	241	183	231
Working Capital Days	71	103	107	105	108	111	120	132	133	123	102	106
ROCE %	19%	12%	18%	17%	21%	17%	13%	19%	24%	26%	27%	32%

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Banco Products Share Price & Earnings Call Analysis