'Setco Automotive held its conference call on 4 June 2019 to discuss its results and future.
Udit Seth Vice Chairman of the company addressed the call.
Highlights of the call
Setco Automotive is a Tier I supplier of clutches to all the MHCV manufacturers in India such as Tata Motors, Bharat Benz, Ashok Leyland etc.
Setco Automotive has a strategic global footprint with 4 manufacturing facilities. 2 in India, and 1 each in the UK and USA, with R&D centres in India and the UK.
Castings are consumed in many industries such as construction, automotive, mining, earth-moving equipment, aerospace, defence and railways.
Standalone sales grew 19.5% to Rs 613.40 crore in FY 2019 despite subdued OEM market in Q3 & Q4.
FY 2019 sales also saw one time impact of Rs 27 crore due to adoption of Ind-AS. On a like-to-like basis growth would have been around 27%.
FY 2019 saw highest EBITDA% in last 7 years.
Standalone PB...
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