BANCOINDIABanco Products (India) Ltd.
Banco Products (India) Q2 FY27 Results: Consolidated Net Profit ₹165 Crore on Total Income of ₹1,270 Crore
- Earnings
- Automobile components
Reviewed byKeshav SehgalBlacklitt Research
Banco Products (India) reported consolidated total income of ₹1,270.28 crore and net profit of ₹165.37 crore for the quarter ended 30 Sep 2026. Standalone total income was ₹407.06 crore and standalone net profit was ₹75.46 crore.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹1,270.28 crore, up 15.8% YoY and 6.8% QoQ
- Net profit and EPS: ₹165.37 crore, up 19.1% YoY; basic EPS ₹11.56 against ₹9.71
- Tax expense: ₹60.40 crore, up 68.7% YoY; 26.8% of profit before tax
Standalone
The company on its own, without its subsidiaries
- Total income: ₹407.06 crore, up 2.6% YoY and 18.1% QoQ
- Net profit and EPS: ₹75.46 crore, down 45.2% YoY; basic EPS ₹5.28 against ₹9.63
- Other income: ₹32.63 crore, down 70.0% YoY from ₹108.92 crore
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 1,270.28 | 1,096.72 | +15.8% | 1,189.62 | +6.8% | |
| Revenue from operations | 1,264.55 | 1,038.19 | +21.8% | 1,183.90 | +6.8% |
| Other income | 5.73 | 58.53 | -90.2% | 5.72 | +0.2% |
| 165.37 | 138.90 | +19.1% | 122.38 | +35.1% | |
| Finance costs | 6.92 | 8.23 | -15.9% | 5.20 | +33.1% |
| Depreciation | 35.62 | 24.86 | +43.3% | 35.05 | +1.6% |
| Tax expense | 60.40 | 35.80 | +68.7% | 56.23 | +7.4% |
| Net profit margin | 13.02% | 12.67% | +0.35 pp | 10.29% | +2.73 pp |
| Tax as share of profit before tax | 26.8% | 20.5% | +6.26 pp | 31.5% | -4.73 pp |
| EPS, basic (₹) | 11.56 | 9.71 | +19.1% | 8.56 | +35.0% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Consolidated net profit grew faster than total income. Net profit rose 19.1% to ₹165.37 crore, while total income rose 15.8% to ₹1,270.28 crore. Profit before tax rose 29.2%, from ₹174.70 crore to ₹225.77 crore, and tax expense rose 68.7% to ₹60.40 crore. Tax took 26.8% of profit before tax, against 20.5% a year earlier.
Revenue from operations rose 21.8% to ₹1,264.55 crore, while other income fell 90.2% to ₹5.73 crore from ₹58.53 crore a year earlier. Other income was 0.5% of total income this quarter.
Finance costs fell 15.9% to ₹6.92 crore, while depreciation rose 43.3% to ₹35.62 crore. Depreciation was 2.8% of total income, against 2.3% a year earlier.
The statement shows exceptional items of nil for the quarter ended 30 Sep 2026. The column for the year ended 31 Mar 2026 shows exceptional items of ₹21.51 crore. Current tax for the quarter was ₹63.23 crore and deferred tax was a credit of ₹2.83 crore.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 407.06 | 396.64 | +2.6% | 344.80 | +18.1% | |
| Revenue from operations | 374.43 | 287.72 | +30.1% | 341.92 | +9.5% |
| Other income | 32.63 | 108.92 | -70.0% | 2.88 | n/a |
| 75.46 | 137.77 | -45.2% | 44.51 | +69.5% | |
| Finance costs | 0.26 | 0.42 | -38.1% | 0.07 | +271.4% |
| Depreciation | 7.62 | 6.91 | +10.3% | 7.41 | +2.8% |
| Tax expense | 15.66 | 11.49 | +36.3% | 14.99 | +4.5% |
| Net profit margin | 18.54% | 34.73% | -16.20 pp | 12.91% | +5.63 pp |
| Tax as share of profit before tax | 17.2% | 7.7% | +9.49 pp | 25.2% | -8.01 pp |
| EPS, basic (₹) | 5.28 | 9.63 | -45.2% | 3.11 | +69.8% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit fell 45.2% to ₹75.46 crore, while total income rose 2.6% to ₹407.06 crore. Revenue from operations rose 30.1% to ₹374.43 crore. Other income fell 70.0% to ₹32.63 crore from ₹108.92 crore a year earlier.
Profit before tax fell from ₹149.26 crore to ₹91.12 crore. Tax expense rose 36.3% to ₹15.66 crore, and tax as a share of profit before tax rose to 17.2% from 7.7%. The net profit margin was 18.54%, against 34.73% a year earlier, and basic EPS was ₹5.28 against ₹9.63.
Against the previous quarter, standalone net profit rose 69.5% from ₹44.51 crore, and total income rose 18.1% from ₹344.80 crore. Standalone other income was ₹2.88 crore in the quarter ended 30 Jun 2026.
Inference
The board approved the standalone and consolidated unaudited results for the quarter and half year ended 30 Sep 2026 on 6 Nov 2026. The Limited Review Reports by PSCA & Co. carry an unmodified opinion. The company says it is primarily engaged in the automobile ancillary business and reports one segment.
The company says the revised outcome was filed because one page of the standalone Limited Review Report was inadvertently omitted during the scanning process, and that there is no change in the financial results.
What the filing leaves open is why other income fell sharply in both natures, and what the exceptional item of ₹21.51 crore in the year ended 31 Mar 2026 relates to.
Filed with BSE on . Reference: Original filing (PDF)
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