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Banco Products (India)
BSE Announcements on Banco Products
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MMB MessengerTracked by: 0 Boarder
Banco Products India Ltd has informed BSE that the members at the Annual General Meeting (AGM) of the Company held on September 02, 2008, inter alia, have approved the Dividend of (70%) i.e. Rs 1.40 per Equity Share for the year ended March 31, 2008, on 62078650 Equity Shares of Rs 2/- each (excluding on 8921350 Equity Shares of Rs 2/- each held by Ganga Investments Pvt Ltd at its request) absorbing Rs 1016/- lacs including Tax on Dividend....
NSE Announcements on Banco Products
Posted by : MMB MessengerTracked by: 0 Boarder
Banco Products (I) Ltd has informed the Exchange that the shareholders, in the Annual General Meeting held on September 02, 2008, have approved the Dividend of (70%) i.e. Rs. 1.40 per Equity Share for the year ended March 31, 2008, on 62078650 Equity Shares of Rs.2/- each ( excluding on 8921350 Equity Shares of Rs.2/- each held by Ganga Investments Private Limited , at its request) absorbing Rs. 1016/-lacs including Tax on Dividend. ...
NSE Announcements on Banco Products
Posted by : MMB MessengerTracked by: 0 Boarder
Banco Products (I) Ltd has informed the Exchange that the Board, in its Meeting held on August 30, 2008 has decided the following: (1) Approval to the proposal for amalgamation of Ganga Investments Private Limited with the Company, subject to sanctioning of the scheme of Amalgamation by appropriate statutory authorities and various approvals in this regard. (2) Approval of the share Exchange ratio recommended by valuers as 236:1, i.e. 236 equity share of Rs.2/- each of the Company to be given in exchange of every 01 equity share of Rs 100/- each held by the shareholders of Ganga Investments Private Limited whose names appear on Record Date as may be fixed by the Company in due course of time after obtaining the various approvals. (3) Approvals to the Draft Scheme of Amalgamation of Ganga Investments Private Limited with the Company, subject to sanctioning of the scheme of Amalgamation by appropriate statutory authorities and various approvals in this regard. (4) Approval of investment in Equity Capital of Kilimanjaro Biochem Limited, Tanzania up to USD 3,000,000 (Three Million) subject to various Statutory and other approvals as may be required in this regard....
BSE Announcements on Banco Products
Posted by : MMB MessengerTracked by: 0 Boarder
Banco Products India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 30, 2008, inter alia, has decided the following:
1. Approval to the proposal for amalgamation of Ganga Investments Pvt. Ltd with the Company, subject to sanctioning of the Scheme of Amalgamation by appropriate statutory authorities and various approvals in this regard.
2. Approval of the Share Exchange ratio recommended by valuers as 236:1 i.e. 236 equity share of Rs 2/- each of the Company to be given in exchange of every 01 equity shares of Rs 100/- each held by the shareholders of Ganga Investments Pvt. Ltd whose names appear on Record Date as may be fixed by the Company in due course of time after obtaining the various approvals.
3. Approval to the Draft Scheme of Amalgamation of Ganga Investments Pvt. Ltd with the Company, subject to sanctioning of the Scheme of Amalgamation by appropriate statutory authorities and various approvals in this regard.
4. Approval of investment in Equity Capital of Kilimanjaro Biochem Ltd, Tanzania up to USD 3,000,000 (Three Million) subject to various Statutory and other approvals as may be required in this regard....
Report from News paper DNA 21st Aug
Posted by :
rrvoraTracked by: 0 Boarder
In spite of steep rise in raw material prices, which has seen margins of auto ancillary companies shrink over the last several quarters, Banco Products will pass on the rising input cost to customers, a senior company official said on Wednesday.
The company, which has expanded operating margins to 21% in FY08 from 15% in FY05, is confident of continuing margin improvement. Despite slowdown in the auto sector, it has revenue growth visibility of at least 20-25% for the next two-three years.
In FY08, the company has reported 51% revenue growth and 98% net profit growth.
The Baroda-based company manufactures aluminum radiators and gaskets in the 70:30 ratio.
Around 80% of the revenues come from original equipment manufacturers (OEMs) and 20% from the after sales market. Exports constitute about a third of its Rs 300 crore sales, with western Europe being the main market.
Chairman V K Patel said the company was exploring new export geographies such as non-passenger car segment in the US and was confident of booking significant revenues from there next year. Largely catering to the export aftermarket segment, the company is now looking at supplying to the OEMs.
The automotive sector contributes about 70% to the company’s revenues. Earth-moving engines and industrial engines contribute about 15% each. Patel said going forward contribution from auto sector will fall as the other sectors are growing faster. This would also de-risk the business.
He said this year the company’s capex would be higher than Rs 15-20 crore it has been averaging over the last few years. It has set up a plant in Jamshedpur to cater to Tata Motors, which is expected to contribute Rs 40 crore to revenues this year.
With above report the prospect of this company is looks very good. Investment at CMP for long term can provide good return
rrvora
...
BSE Announcements on Banco Products
Posted by : MMB MessengerTracked by: 0 Boarder
Banco Products India Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on August 30, 2008, inter alia, to consider the proposal for merger of Ganga Investments Pvt Ltd (forming part of Promoter / Promoter Group) with Company, subject to necessary rules, regulations, approvals / permissions as may be applicable / required in this regard u/s 391/394 of the Companies Act, 1956 etc....
Just ... excellent
Posted by : rrvoraTracked by: 1 Boarder
Looking good at current market price Rs.34 for long term.
The company reported a net sales of Rs 812 million for the quarter ended Mar. 31, 2008, a jump of 9.2% as against Rs 744 million posted in the same period of the last fiscal. Net profit for the fourth quarter stood at Rs 150 million, a growth of 2.42 times as compared to Rs 62 million posted in the same period of last year.
Net sales for the year ended Mar. 31, 2008 grew by 14.9% to Rs 2,989 million compared with Rs 2,602 million in the year ago period, while net profit for the year ended Mar. 31, 2008 rose by 71.4% to Rs 433 million, as against Rs 253 million posted in the same period of last fiscal. Earnings per share (EPS) for FY08 worked out to Rs 6.10.
rrvora...
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