Banco Products rallies on strong Q2, bonus issue

On a consolidated basis, net profit of Banco Products (India) surged 109.8% to Rs 138.70 crore on 23.8% increase in net sales to Rs 888.81 crore in Q2 September 2024 over Q2 September 2023.

Profit before tax stood at Rs 197.09 crore in the Q2FY25, up 89.4% YoY and up 81.63% QoQ.

Total expenses rose 14.5% to Rs 689.21 crore in Q2 FY25 over Q2 FY24. During the quarter, cost of materials consumed stood at Rs 538.66 crore (up 78.4% YoY) while employee benefits expense was at Rs 82.01 crore (up 24.1% YoY).

Net cash flow from operating activities decreased to Rs 65.71 crore for the six months ended September 2024, compared to Rs 261.20 crore for the same period in 2023.

The company's board has recommended issue of bonus shares in the ratio of 1:1 i.e. one new fully paid-up equity share for every each existing fully paid-up equity share. The record date will be intimated separately by the company.

Banco Products (India) is a leading provider of engine cooling and sealing solutions for automotive and industrial applications.