Banco Products ltd (BPIL) is a manufacturer of radiators and gaskets that have applications in automobiles, oil engines, compressors & locomotives. 80% of the revenue comes from the commercial vehicles (CV) Industry. Q4FY19 revenue grew by strong 27.6%, mainly due to higher contribution from the European subsidiary (Constitutes 60% of revenue) growing at 55%YoY respectively. Despite lower RM & Employee cost, EBITDA margin contracted by 740bps due to significant increase in other expenses....