Setco Automotive Ltd, one of India’s largest Medium and Heavy Commercial Vehicles (MHCV) clutch manufacturers, reported a 10% increase in revenue from operations in Q2 FY25 to Rs 159.9 crore up from Rs 145.7 crore in Q2 FY24. The company’s EBITDA for Q2 FY25 was Rs 26.0 crore, a 104% year-on-year growth from Rs 12.7 crore in Q2 FY24. EBITDA margin for the quarter stood at 16.2%.
The company recorded its highest-ever revenue of Rs 322.4 crore in H1 FY25. For the same period, Setco’s revenue from operations grew 11% to Rs 322.4 crore, compared to Rs 290.9 crore in H1 FY24. The company’s EBITDA for H1 FY25 was Rs 46.3 crore, a 72% increase from Rs 27.0 crore in H1 FY24. EBITDA margin for H1 FY25 was 14.4%.
Harish Sheth, Chairman & MD of Setco Automotive Ltd., said, “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.”
Setco has received the NVB Excellence Award from Tata Motors at their Annual Supplier Conference. Additionally, Setco received recognition for its energy management efforts at the UKD plant with an award from the Society of Energy Engineers and Managers (SEEM).
On the business front, the company successfully launched additional products under the Setco Allied Products range, including Centre Bearings. The innovative Drive Rewards’ program introduced through the Setco App has gained remarkable traction, with over 20,000 mechanics and retailers onboard.
In terms of financial achievements, the restructuring of subsidiary Lava Cast’s debt was successfully sanctioned, leading to the withdrawal and disposal of the insolvency petition against it. Moreover, Lava Cast achieved a significant milestone by turning EBITDA positive during H1.
Setco Automotive Ltd, established in 1982, is a manufacturer of M&HCV clutches and a premium supplier of truck products. The company has a diversified product portfolio within the commercial vehicle segment, offering brake linings, clutches, flywheels, lubricants, release bearing assemblies, and universal joints.