BANCO PRODUCTS LTD

·         Banco India is manufacturer for radiators and gaskets, engine cooling systems, engine sealing systems, cork rubber materials.

·         All this products are used in auto industry and other heavy weight industrial applications.

·         It supplies to its various clients in India as well exports globally.

·         With increasing demand for auto vehicles for two and as well four wheelers, this will be adding more revenue than the normal demand observed   in previous years.

·          Some of the product is also used in industrials use example:  the cooling system used in wind mills / compressors.

·         So it not only just manufactures this product but also keeping on adding enhancement and innovation through its R&D and testing Team.

·         Visit Company website to find list of applications. http://www.bancoindia.com/

·         You can add this as part of auto industry growth stock in your portfolio.

         

         Q2Q

(in Cr.)	Jun-14	Mar-14	Dec-13	Sep-13	Jun-13
Income Statement
Revenue	113.49	119.39	101	99.86	126.98
Other Income	1.67	9.56	3.74	3.6	16.77
Total Income	115.16	128.95	104.74	103.46	143.75
Expenditure	-91.52	-88.83	-85.18	-85.07	-108.19
Interest	-1.95	-6.76	-2.25	-2.64	-2.58
PBDT	21.69	33.36	17.31	15.75	32.98
Depreciation	-3.55	-3.92	-4.3	-4.11	-4.18
PBT	18.14	29.44	13.01	11.64	28.8
Tax	-3.47	-6.64	-1.36	-2.08	-6.41
Net Profit	14.67	22.8	11.65	9.56	22.39
Equity	14.3	14.3	14.3	14.3	14.3
EPS	2.05	3.19	1.63	1.34	3.13
CEPS	2.55	3.74	2.23	1.91	--
OPM %	20.83	33.6	19.37	18.42	28
NPM %	12.93	19.1	11.53	9.57	17.63

ARVIND LTD

·    

•          Arvind LTD is textile manufacturer which includes product as fabric / yarn /garment business.

•          Arvind not only exports to others but also has its own retail channels across India. This show company’s strategy for having its own brand in the market.

•          Its  brands include Flying Machine, Colt and Excalibur plus joint venture in India with Tommy Hilfiger.

•          It has also now entered into e-commerce segment for sales and growth through Creyate (http://beta.creyate.com/en/homepage).

•          Its subsidiary company Arvind Lifestyle Brands Ltd, has tied up with Gap Inc, to open Gap stores in India. The first stores are expected to open in India's two largest cities Mumbai and Delhi. Arvind plans to open about 40 franchise operated Gap stores in India.

•          Company has now entered into franchise business with children’s wear as well called The Children's Place (TCP), the largest American kids speciality apparel retailer.

•          Garment business covering from babies / kids  / adults    - what’s  left now ?

•          Mode of sales – outlets / franchise /  e-commerce – what’s left now ?

•          All the point will be adding +ve value to balance sheet in coming quarters and YOY.

•          You can add this stock as part of textile portfolio.

Q2Q

(in Cr.)	Jun-14	Mar-14	Dec-13	Sep-13	Jun-13
Income Statement
Revenue	1,277.53	1,283.96	1,208.00	1,192.89	1,093.27
Other Income	36.64	21.28	14.61	19.91	24.42
Total Income	1,314.17	1,305.24	1,222.61	1,212.80	1,117.69
Expenditure	-1,076.63	-1,083.32	-1,002.89	-991.14	-918.45
Interest	-79.08	-78.6	-70.56	-76.22	-71.06
PBDT	158.46	143.32	149.16	145.44	128.18
Depreciation	-30.13	-39.32	-40.29	-40.26	-37.64
PBT	128.33	104	108.87	105.18	90.54
Tax	-15	-9.11	-15	-11.9	-11.19
Net Profit	113.33	94.89	93.87	93.28	79.35
Equity	258.21	258.17	258.04	258.04	258.04
EPS	4.39	3.67	3.64	3.61	3.08
CEPS	5.56	5.2	5.2	5.18	4.53
OPM %	18.59	17.28	18.19	18.58	18.22
NPM %	8.87	7.39	7.77	7.82	7.26