Banco’s numbers for the year ended March 2022 have been nothing short of phenomenal with all time high Sales at 1958 crs & Profits at 152 crs. Even the operating margins have come in at around all time highs at 14%. With its current market cap at 1217 crs, the stock is available at only about 8 times its trailing earnings.
The Dividend of Rs 20 per share means the payout ratio is 94%. This high payout ratio is not a one off with the Co. passing out in excess of 80% in three of the last four years. The last twelve months have seen a marked improvement in growth rates & accounting ratios.
Looks like a value stock with all the characteristics of a growth stock!!
Profit & Loss (Taken from Screener.in)
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 872 | 986 | 1,024 | 1,116 | 1,129 | 1,148 | 1,239 | 1,336 | 1,567 | 1,422 | 1,533 | 1,958 |
| Expenses + | 761 | 864 | 905 | 951 | 1,027 | 1,002 | 1,096 | 1,157 | 1,405 | 1,300 | 1,354 | 1,686 |
| Operating Profit | 111 | 122 | 119 | 165 | 102 | 146 | 144 | 179 | 161 | 122 | 178 | 272 |
| OPM % | 13% | 12% | 12% | 15% | 9% | 13% | 12% | 13% | 10% | 9% | 12% | 14% |
| Other Income + | 2 | 10 | 9 | 9 | 53 | 11 | 32 | 18 | 10 | 25 | 9 | 5 |
| Interest | 9 | 8 | 16 | 19 | 8 | 3 | 2 | 2 | 4 | 3 | 4 | 5 |
| Depreciation | 19 | 21 | 29 | 32 | 34 | 35 | 33 | 28 | 29 | 33 | 34 | 48 |
| Profit before tax | 85 | 102 | 83 | 122 | 113 | 119 | 141 | 167 | 138 | 111 | 150 | 224 |
| Tax % | 23% | 25% | 26% | 26% | 22% | 25% | 31% | 30% | 50% | 31% | 24% | 32% |
| Net Profit | 66 | 77 | 61 | 90 | 88 | 90 | 97 | 117 | 69 | 77 | 114 | 152 |
| EPS in Rs | 9.18 | 10.70 | 8.57 | 12.56 | 12.26 | 12.57 | 13.59 | 16.33 | 9.66 | 10.71 | 15.90 | 21.31 |
| Dividend Payout % | 33% | 23% | 21% | 16% | 24% | 37% | 66% | 61% | 83% | 187% | 13% | 94% |
Compounded Sales Growth
10 Years: 7%
5 Years: 10%
3 Years: 8%
TTM: 28%
Compounded Profit Growth
10 Years: 8%
5 Years: 12%
3 Years: 30%
TTM: 34%
Stock Price CAGR
10 Years: 10%
5 Years: -5%
3 Years: 8%
1 Year: 3%
Return on Equity
10 Years: 13%
5 Years: 13%
3 Years: 14%
Last Year: 17%