Setco Automotive Limited, one of India's largest manufacturers of MHCV clutches and a premium supplier of truck products, announced its unaudited financial results for the quarter and half-year ended September 30, 2024, at the board meeting held on November 14, 2024.
For the quarter ended September 30, 2024:
Revenue from Operations stood at Rs. 159.9 crore in Q2 FY25, up from Rs. 145.7 crore in Q2 FY24, driven by higher volumes in the OES and aftermarket segments. The EBITDA for Q2 FY25 was Rs. 26.0 crore compared to Rs. 12.7 crore in Q2 FY24, marking a year-on-year growth of 104 per cent, due to increased sales and a focused approach to cost savings. The EBITDA margin for Q2 FY25 stood at 16.2 per cent.
For the first half ended September 30, 2024:
Revenue from Operations reached Rs. 322.4 crore in H1 FY25, up from Rs. 290.9 crore in H1 FY24, an 11 per cent year-on-year growth due to higher sales to OES and aftermarket channels and the introduction of Setco Allied products. The EBITDA for H1 FY25 stood at Rs. 46.3 crore, an increase from Rs. 27.0 crore in H1 FY24, with a 72 per cent year-on-year growth driven by rising aftermarket volumes, ongoing cost-saving initiatives, and improved operational efficiencies. The EBITDA margin for H1 FY25 stood at 14.4 per cent.
Commenting on the results, Harish Sheth, Chairman & MD of Setco Automotive Ltd., said, "I am pleased to report another quarter of growth, with significant improvements in both revenue and EBITDA. Our performance reflects robust demand across OES and IAM channels, surpassing expectations. Our cost-optimisation focus has led to substantial savings, boosting our operational margin. We continue to work closely with our clients, further increasing our market share through the quality and reliability of our products and services. These accomplishments underscore our commitment to operational excellence and sustainable growth, and we remain optimistic about maintaining this momentum in the coming quarters."