Setco Auto Reports Unprecedented Revenue Growth
y-o-y growth of 9.6%
EBITDA reached Rs. 68.6 crore, a y-o-y growth of 36.0%
Subsidiary Lava Cast Operational Milestones in Q3 FY25
INDIA: Setco Automotive Limited (BSE: 505075, NSE: SETCO), 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 nine months ended December 31st, 2024 in the Board meeting held on 12th February 2025.
Consolidated Q3 & 9M FY25 Financial Highlights
Particulars (Rs. Crore)Q3 FY25Q3 FY24Y-o-Y%9M FY259M FY24Y-o-Y%Revenue from Operations177.3165.17.4%499.8456.09.6%EBITDA29.424.719.0%68.652.836.0%EBITDA Margin16.6%15.0%161 bps13.7%11.6%266 bps
Performance Highlights: –
For the quarter ended December 31st, 2024:
Revenue from Operations stood at Rs. 177.3 crores in Q3 FY25, as against Rs. 165.1 crore in Q3 FY24, a growth of 7.4% on a year-on-year basis, mainly on account of robust demand for Setco’s high-quality products and its ability to cater to evolving customer needs in the MHCV sector
EBITDA for the Q3 FY25 is Rs. 29.4 crores as against Rs. 24.7 crores in Q3 FY24, a year-on-year growth of 19.0%, mainly on account of higher sales, favorable segment mix, and higher operational efficiencies at LAVA cast
EBITDA Margin for Q3 FY25 stood at 16.6%
For the nine months ended December 31st, 2024:
Revenue from Operations stood at Rs. 499.8 crores in 9M FY25, as against Rs. 456.0 crores in 9M FY24, a year-on-year growth of 9.6% mainly on account of an increase in sales to OES and aftermarket and introduction of Setco allied products
EBITDA for the 9M FY25 is Rs. 68.6 crores as against Rs. 52.8 crores in 9M FY24, a year-on-year growth of 36.0%, mainly on account of favorable sales mix, continuous efforts on cost saving, LAVA Cast turnaround
EBITDA Margin for nine months stood at 13.7%
Business highlights to date
Received NVB Excellence Award from Tata Motors in the Annual supplier conference
Received an Award from SEEM for Energy Management for the 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During the first half, the bank sanctioned the restructuring of Lava Cast’s debt, and the Insolvency petition was withdrawn and disposed of.
Lava Cast turned EBITDA positive in H1
Lava Cast achieved its highest quarterly tonnage since 2019. This milestone signifies Lava Cast’s ability to capitalize on market opportunities and operational efficiencies
Lava Cast recorded its best-ever rejection rates during Q3 FY25. This improvement stems from rigorous quality checks and advanced production processes, driving rejection rates down
Commenting on the result, Harish Sheth, Chairman & MD, Setco Automotive Ltd. said, “I’m happy to share that we’ve had another strong quarter, with solid revenue growth, better profitability, and improved efficiencies. Our revenue grew by 9.6% YoY in 9 9-month period for FY25, and EBITDA jumped 36.0%, reflecting the strong demand for our products and our ability to keep up with evolving customer needs in the MHCV sector.
Our efforts around a better sales mix, cost optimization, and the turnaround at LAVA Cast have helped push our EBITDA margin to 16.6% this quarter. We also hit our best-ever third-quarter sales, and LAVA Cast recorded its highest tonnage since 2019—clear signs of our strong operations and execution.
At the same time, we are focused on expanding our market presence and broadening our product portfolio withthe addition of allied offerings. These initiatives will further strengthen our position in the industry. Going forward, we’re confident in maintaining this momentum, making the most of market opportunities, and continuing to create value for all our stakeholders.”
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