BANCO PRODUCTS (I) LTD

Manufactures auto components, with standalone operations in India and a consolidated business that runs through subsidiaries, including step-down subsidiary NRF France S.A.S. Materials form the largest cost line at 51.5% of revenue in FY26, followed by other operating expenses at 17.6% and employee costs at 11.6%. Capital expenditure was 3.6% of revenue and depreciation 3.5%, indicating a manufacturing footprint that needs steady but moderate reinvestment. Consolidated total income reached Rs 3,99,496 lakhs in FY26, while standalone total income was Rs 1,58,595 lakhs, showing a sizeable share of the top line comes from outside India. The company earned Rs 26,469 lakhs as dividend from subsidiaries in FY26, up from Rs 13,081 lakhs the previous year, underscoring how much of the consolidated profit is generated through overseas units. A warehouse fire at NRF France S.A.S. led to an exceptional charge of Rs 2,150 lakhs and a preliminary insurance claim of Euro 6.56 Mn (Rs 7,050 lakhs).