1,000 per cent return; This auto ancillary company surged 20 per cent today following stellar quarterly results
The stock has displayed remarkable performance an impressive 387 per cent return in the last three years.
The stock opened at Rs 357, marking a 6.8 per cent increase from the previous day's closing price of Rs 334.40. Throughout the intraday session, the stock surged by 19.99 per cent, accompanied by significant trading volume in Banco Products (India) Ltd, leading to a substantial increase today.
Upon analysing today's share volumes, it is evident that there has been a substantial increase of more than 12.62 times in volumes than its normal trading volumes on the BSE.
Finally, the shares of the company concluded the day up by Rs 66.85, at Rs 401.25 on the BSE. The stock hit the upper circuit price limit of Rs 401.25 during the intraday trading session.
The stock's 52-week highs and lows are recorded at Rs 401.25 and Rs 176.55, respectively. With a market capitalization of just Rs 2870 Crore, the stock has displayed remarkable performance in recent times, delivering a 30 per cent return in a month and an impressive 387 per cent return in the last three years.
Financial Performance
The company announced its June quarter results on August 07. Upon examining the company's financials, revenue from operations experienced an increase of 28 per cent YoY, going from Rs 586 crore to Rs 749 crore. The operating profit of the company increased from Rs 67 crore to Rs 97 crore, and the operating profit margin increased from 11 per cent to 13 per cent.
The net profit of the company amounts to Rs 69 crore, with net profit margins standing at 9 per cent in FY23. The company's return on capital employed (ROCE) and return on equity (ROE) are at 25.7 per cent and 23.8 per cent, respectively.
Business Overview
Banco Products (India) Ltd produces and distributes engine cooling modules and systems, catering to automotive and industrial needs across domestic and global markets. Established in 1961, the company was founded by Mr. Mehul K. Patel, a veteran of over four decades in the automotive sector.