Sunday 24 February 2019
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business-standard - 13 days ago

Setco Automotive 9M FY19 sales up 33.6% at Rs. 466 crore

Setco Automotive Ltd. (NSESetco Automotive reported a strong sales of INR 466 Cr. in 9M FY19, up by 33.6% YoY despite a slowdown in the M HCV segment in Q3. On the back of robust growth and improved operating efficiencies, EBITDA in 9MFY19 stood at INR 67.71 Cr., up by 82.3% YoY. The company posted Profit after Tax of INR 24.20 Cr. in 9MFY19, up by 84.1% YoY.The company reported sales of INR 160.42 crore in Q3 FY19, up by 10.1% YoY and EBITDA of INR 23.27 crore in the quarter, up by 6.9% YoY. The company posted Profit after Tax of INR 7.21 Cr. in Q3FY19, down by 35% YoY due to the normal tax rate of 34% applicable in FY19 as compared to ~21% in FY18 (actual rate was ~8% in Q3FY18).Despite unanticipated liquidity crisis affecting MHCV industry sales and production, Setco s sales from Original Equipment Manufacturer (OEM) segment grew by 9.9% and sales from Aftermarkets segment grew by 32.2% in this quarter. LavaCast (a subsidiary of Setco) ramps-up its capacity utilization to ~70% .

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