Setco’s OEM business grew by ~65% compared to MHCV industry production growth of 57%.

Setco Automotive Ltd. (NSE: SETCO | BSE: 505075), the largest manufacturer of clutches for Medium and Heavy Commercial Vehicles (M&HCV) in India, announced its financial result for the quarter and half year ended September 30, 2018.

The company's management maintains its sales growth guidance at ~35% for the year.

Harish Sheth, Chairman & Managing Director at Setco Automotive, said, "Strong economic fundamentals continue to drive the growth of the M&HCV segment. This growth trend is seen for the last 5 quarters in a row and the growth cycle is expected to continue for the next 3-4 years, driven by Government's thrust in the rural sector and investment in infrastructure. All planned initiatives are on target to build on this strong start and deliver a superior top line and bottom-line performance by strong cost management and better efficiencies."

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