Setco Automotive Limited — Updates, 14-11-2024: Press Release

Setco Automotive Limited has reported strong financial results for the quarter and half-year, achieving record revenue of Rs. 322.4 Cr in H1 FY25, reflecting an 11% year-on-year growth. Q2 FY25 revenue reached Rs. 159.9 Cr, up 10% from Q2 FY24, driven by increased volumes in Original Equipment Suppliers (OES) and aftermarket channels. EBITDA saw remarkable growth, rising by 72% to Rs. 46.3 Cr for H1 FY25, with a Q2 EBITDA of Rs. 26.0 Cr, representing a 104% increase compared to the same quarter last year. The EBITDA margin improved significantly to 14.4% for the first half and 16.2% for Q2.

The company has expanded its product offerings with the launch of Setco Allied products and the 'Drive Rewards' program, which has successfully onboarded over 20,000 mechanics and retailers. Additionally, Setco received the NVB Excellence Award from Tata Motors and an energy management award from SEEM. The restructuring of Lava Cast's debt has resulted in positive EBITDA for the subsidiary, indicating a positive outlook for operational performance. Management remains optimistic about sustaining growth momentum in the coming quarters.