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

Setco's OEM business grew by ~65% compared to MHCV industry production growth of 57%. Post GST, a significant shift to the organized sector is accelerating with each passing quarter, and has delivered 48% growth in the company's Aftermarket segment compared to the corresponding quarter. The growth improvement in International subsidiaries is noticed in last four quarters, which is expected to continue in foreseeable future with sustained improvement in EBITDA margins.

Lava Cast, the state-of-the-art casting business of Setco, saw a continuous ramp-up in capacity utilization with ~60% utilization in Q2FY19 vs ~47% in Q1FY19 and expected to hit capacity utilization of around 85% in H2FY19. It has already commenced supplies to external customers such as TATA Motors, Ashok Leyland and others. It has also received approval from Daimler for supply of castings.

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