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Banco Products (India) Ltd. Company History and Annual Growth Details

The company was incorporated on 16th day of March, 1961, at Baroda.

A project for the manufacture of industrial radiators, heat exchangers, etc, and gasket at village Ankhi in the Bharuch district of Gujarat, was financed through private placement of secured non-convertible debentures with UTI for a total value of Rs. 80 lakhs for commercial production commenced during the year 1987-88.

The company has set up a full fledged R&D centre. Some of the major contributions of this wing were developed of a special radiator for diesel locomotives for the Indian railway. Introduction of the rubberised coris in gaskets and development of an serial coller for gas pipeline pumping project.

2007

-The Company has issued Bonus Shares in the Ratio of 1:1.

-Company has splits its Face value of Shares from Rs 10 to Rs 2

2008

- Banco Products India Ltd has appointed Shri. Pankaj M Kadakia as Additional Director and Shri. Shailesh A Thakker as Additional Director (designated as Executive Director and CFO).

- The Company has splits its face value from Rs10/- to Rs2/-.

2009

- Banco Products (India) Ltd has appointed Shri. S. K. Duggal as Director w.e.f. September 23, 2009.

- Banco Products (India) Ltd has informed that Shri. Manubhai G. Patel has been appointed as Director of the Company w.e.f. November 07, 2009.

2010

-Company has acquired of 100% Equity shareholding of NEDERLANDSE RADIATEURN FABRIEK B.V. - Netherlands

-Company has commenced manufacturing unit at Rudrapur recently mainly to meet the requirements in and around Rudrapur.

2011

- Banco Products (India) Ltd which is already holding 99.80% Equity Sharers of Kilimanjaro Biochem Limited, has acquired 00.20% Equity Shares of Kilimanjaro Biochem Limited & now Kilimanjaro Biochem Limited is Wholly Owned Subsidiary of Banco Products (India) Limited

-Company has made investment in 100% Equity shareholding of Lake Minerals (Mauritius) Limited

2012

-Banco Prod - Board recommended Dividend of Rs 2.50 i.e (125%)

-Banco Products (India) Ltd - Commercial production of Radiators has started at its manufacturing facilities

2013

-Banco Products (India) Ltd own 'Best Supplier Award' for overall performance for the year 2013.

-Banco Products (India) Ltd own 'Excellent ACE Support Award' in India ABO Supplier Conference for the year 2013.

-Banco Products (India) Ltd own 'Annual Commodity Award' in Recognition of Superior performance in 2013.

-Board recommended a Dividend @ 90% i.e. Rs. 1.80 Per Equity Share of face value of Rs. 2/- each

2014

-Shri Vimal K. Patel has resigned as a Director and now Chairman of the company.

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