'Setco Automotive held its conference call on 24 May 2018 to discuss its results for the period ended March 2018.
Highlights of the call:
In Q4 sales grew 1% to Rs 175.76 crore. PAT jumped 48% to Rs 15.75 crore.
In FY 2018 sales grew 7% to Rs 524.72 crore. PAT jumped 54% to Rs 28.90 crore.
Q1 FY 2018 was an aberration quarter in Setco history, due to rolling-out of GST & adoption of BSIV norms.
Excluding Q1FY18, it has grown by 21.5% over last 9 months yoy.
Growth would have been much higher, but due to supply constraints aftermarket volume couldn't be realized fully.
Q4FY18 EBITDA margin of 16.4% is the highest in the last 4 years.
Being a vertically integrated clutch manufacturer with its own foundry, complex and machined castings are easily available. A big differentiation between Setco and others is that perhaps Setco is the only company which has its own foundry.
It aims to be the preferred clutch ...
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