Banco Products skids after posting disappointing Q4 numbers

Banco Products (India) slumped 5.8% to Rs 209.35 at 12:00 IST on BSE after consolidated net profit plunged 67.4% to Rs 7.03 crore on 6.16% rise in total revenue to Rs 320.30 crore in Q4 March 2017 over Q4 March 2016.

The result was announced after market hours yesterday, 22 May 2017.

The stock had dropped 4.8% to Rs 222.25 yesterday, 22 May 2017, ahead of the announcement of results. The stock has dropped 10.32% in two sessions to its ruling price of Rs 209.35 from a close of Rs 233.45 on 19 May 2017.

Meanwhile, the S&P BSE Sensex was down 160.30 points or 0.52% at 30,410.67. The S&P BSE Small-Cap index was down 314.33 points or 2.09% at 14,739.81.

On the BSE, 39,586 shares were traded on the counter so far as against the average daily volumes of 50,992 shares in the past one quarter. The stock had hit a high of Rs 219 and a low of Rs 204 so far during the day.

The stock had hit a record high of Rs 255.60 on 16 May 2017 and a 52-week low of Rs 125 on 25 May 2016. The stock had underperformed the market over the past one month till 22 May 2017, falling 3.05% compared with the Sensex's 4.11% rise. The scrip had, however, outperformed the market in past one quarter, rising 9.62% as against the Sensex's 5.91% rise.

The small-cap company has equity capital of Rs 14.30 crore. Face value per share is Rs 2.

Banco Products (India)'s board of directors recommended final dividend of Rs 4 per share for the financial year ended on 31 March 2017 (FY 2017).

Banco Products (India) is an auto component manufacturer and supplies engine cooling products and sealing gaskets.

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