Setco Automotive Limited, amongst India’s largest manufacturer of MHCV clutches and a premium supplier for truck products, has announced its unaudited financial results for the quarter and half year ended September 30, 2024 in the Board meeting held on November 14, 2024.

 

 

 

 

 

•         Revenue from operations stood at Rs 1.59 billion  in Q2 FY25, as against Rs  1.45 billion  in Q2 FY24 on account of increase in volumes for OES and aftermarket.

•         EBITDA for the Q2 FY25 is Rs  260 million  as against Rs  127 million in Q2 FY24, a year on year growth of 104%, mainly on account increase in sales and focused approach on cost savings.

•         EBITDA margin for Q2 FY25 stood at 16.2%.

 

•         Revenue from operations stood at Rs 3.22 billion  in H1 FY25, as against Rs  2.90 billion  in H1 FY24, a year on year growth of 11% mainly on account of increase in sales to OES and aftermarket and introduction of Setco allied products.

 

•         EBITDA for the H1 FY25 is Rs  463 million as against Rs  270 million  in H1 FY24, a year on year growth of 72%, mainly on account increasing volumes in the aftermarket segment, continues efforts on cost savings and improved operational efficiencies.

•         EBITDA margin for the first half stood at 14.4%.

•         Received NVB Excellence Award from Tata Motors in Annual supplier conference.

•         Received Award from SEEM for Energy Management for UKD plant.

•         During the first half, successfully launched additional products Setco Allied products (Centre Bearings).

•         Successfully launched the ‘Drive Rewards’ program with the Setco App (Playstore: Setco Connect) and have onboarded >20k mechanics and retailers.

•         During the first half, bank have sanctioned the restructuring of Lava Cast’s debt and Insolvency petition is withdrawn and disposed off.

•         Lava Cast turned EBITDA positive in H1.

 

Harish Sheth, Chairman & MD, Setco Automotive Ltd, commented,“I am pleased to report another quarter of growth, with both revenue and EBITDA showing significant improvements. Our performance reflects strong demand across Original Equipment Suppliers (OES) and Independent Aftermarket (IAM) channels, where we have exceeded our expectations. Our focus on cost optimization has yielded substantial savings, which is seen in the improvements in our operational margin. We are constantly engaged with our clients and are corking closely to further increase our share with them given the trust and the consistent quality of products and service we deliver. During the quarter we have further increase share in few our customers. These achievements underscore our commitment to operational excellence and sustainable growth and we remain optimistic about maintaining this momentum in the quarters ahead.”