Setco Automotive Ltd. is the largest manufacturer of clutches for Medium and Heavy Commercial Vehicles (M&HCV) in India

Setco Automotive Ltd. (NSE: SETCO | BSE: 505075), the largest manufacturer of clutches for Medium and Heavy Commercial Vehicles (M&HCV) in India, announced its financial result for the third quarter (Q3 FY19) ended December 31, 2018 and nine months (9M FY19) ended December 31, 2018. Setco Automotive reported a strong sales of INR 466cr 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 67.71cr, up by 82.3% YoY. The company posted Profit after Tax of INR 24.20cr 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 7.21cr 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).

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