Setco Automotive Ltd

Setco Automotive Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Setco Automotive Ltd

₹ 7.77 4.30%
01 Dec 12:11 p.m.
setcoauto.com BSE: 505075 NSE - BE : SETCO
About

Setco Automotive Limited (SAL), incorporated in 1982, is engaged in the manufacture of clutches for Medium and Heavy Commercial Vehicles (MHCV) and markets it under the brand name ‘LIPE Clutches’. SAL led by Mr. Harish Sheth, is the flagship company of the ‘Sheth Group’. SAL has 4 manufacturing facilities: 2 in India (Kalol - Gujarat, Sitarganj - Uttarakhand), 1 in UK (Haslingden - Lancashire) and 1 in USA (Paris – Tennessee). The product line of SAL also includes supply of hydraulics (pressure converters) and fully machined ferrous castings. [1]

Key Points

Products and Brands
Construction Equipment
Hydraulics – Pressure Converters for the Construction Equipment industry.
Truck & Automotive - Clutch Systems for Medium and Heavy Commercial Vehicle Industry.
Pressings - Deep Drawn and Complex utilizing up to 1000 tons.
Precision Components Machined & Heat Treated.
The Co. sells its clutch systems under the brand LIPE Clutches and machined ferrous casting products under the brand Lava Cast. [1]

Website BSE NSE - BE
  • Market Cap ₹ 104 Cr.
  • Current Price ₹ 7.77
  • High / Low ₹ 14.5 / 4.70
  • Stock P/E
  • Book Value ₹ -38.0
  • Dividend Yield 0.00 %
  • ROCE 1.31 %
  • ROE %
  • Face Value ₹ 2.00
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Pros

  • Debtor days have improved from 36.8 to 26.5 days.
  • Company's working capital requirements have reduced from 58.8 days to 43.3 days

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -0.96% over past five years.
  • Contingent liabilities of Rs.757 Cr.
  • Promoters have pledged 94.6% of their holding.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Auto Ancillaries Industry: Auto Ancillaries

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023
93 111 114 71 89 120 156 158 116 111 160 145 146
84 102 132 78 110 116 146 143 114 108 140 132 134
Operating Profit 9 9 -17 -7 -22 3 10 15 1 3 21 14 12
OPM % 9% 8% -15% -10% -25% 3% 6% 10% 1% 3% 13% 9% 8%
3 1 -28 1 -89 1 -6 2 2 -3 -9 1 1
Interest 15 14 17 16 23 34 35 37 38 40 40 42 45
Depreciation 8 8 9 8 9 10 10 9 9 9 11 9 9
Profit before tax -13 -12 -71 -31 -143 -39 -41 -28 -44 -48 -41 -37 -41
Tax % 5% 4% 3% 2% -13% -1% 35% 0% 0% 0% -77% 0% 0%
-12 -12 -69 -30 -161 -40 -27 -28 -44 -48 -72 -37 -41
EPS in Rs -0.84 -0.81 -5.15 -2.20 -10.20 -2.63 -1.75 -2.10 -2.77 -2.51 -4.31 -2.32 -2.54
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
419 388 402 508 568 543 554 660 451 348 423 527 563
344 332 365 444 493 484 493 563 415 358 439 487 513
Operating Profit 75 57 38 64 74 59 61 97 36 -10 -16 40 49
OPM % 18% 15% 9% 13% 13% 11% 11% 15% 8% -3% -4% 8% 9%
0 5 17 4 6 0 23 6 -1 -24 -93 -8 -11
Interest 19 20 23 26 33 51 50 53 57 59 108 155 167
Depreciation 11 12 14 16 19 30 32 34 32 34 37 38 38
Profit before tax 46 29 18 26 28 -22 0 17 -54 -127 -254 -161 -167
Tax % 1% 11% -2% 21% 19% 38% 304% 103% 8% 3% -1% -19%
45 26 18 21 23 -14 -1 -1 -50 -123 -257 -192 -198
EPS in Rs 3.44 1.96 1.37 1.55 1.74 -0.65 0.28 0.23 -3.33 -8.98 -16.77 -11.40 -11.68
Dividend Payout % 16% 27% 39% 39% 46% -100% 285% 427% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 3%
5 Years: -1%
3 Years: 5%
TTM: 2%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: 4%
Stock Price CAGR
10 Years: -7%
5 Years: -27%
3 Years: -15%
1 Year: -38%
Return on Equity
10 Years: %
5 Years: %
3 Years: %
Last Year: %

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 18 27 27 27 27 27 27 27 27 27 27 27 27
Reserves 116 155 163 176 187 170 161 144 78 -54 -267 -457 -535
159 181 185 318 397 425 385 376 417 470 760 873 935
63 58 76 78 129 104 150 168 161 158 120 132 132
Total Liabilities 356 421 450 598 740 726 723 716 682 602 639 574 559
103 137 150 185 200 330 321 317 301 282 308 285 272
CWIP 12 14 8 82 154 17 15 16 22 6 2 0 0
Investments 22 37 51 45 58 43 15 15 51 56 83 83 83
219 233 241 286 329 336 372 368 309 257 245 207 203
Total Assets 356 421 450 598 740 726 723 716 682 602 639 574 559

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
36 31 57 13 73 43 92 109 92 26 -127 48
-36 -32 -27 -117 -112 -17 15 -28 -61 -17 -98 -12
6 -5 -28 107 32 -19 -111 -74 -32 -6 232 -40
Net Cash Flow 5 -6 2 4 -7 6 -4 7 -0 3 7 -4

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 77 75 63 56 72 83 84 60 38 47 37 26
Inventory Days 138 183 199 164 172 177 209 206 292 241 160 153
Days Payable 63 54 79 52 93 111 137 119 196 179 123 115
Cash Conversion Cycle 151 204 184 168 150 149 155 147 134 109 74 64
Working Capital Days 108 143 123 120 102 97 81 56 24 64 69 43
ROCE % 28% 15% 9% 12% 11% 5% 9% 12% 2% -8% -9% 1%

Shareholding Pattern

Numbers in percentages

Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
59.15% 59.25% 59.25% 59.25% 59.25% 59.25% 59.25% 59.25% 59.25% 59.25% 59.25% 59.25%
0.07% 0.07% 0.07% 0.08% 0.09% 0.11% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07%
0.04% 0.04% 0.04% 0.00% 0.00% 0.00% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.03% 0.03% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
40.74% 40.61% 40.61% 40.67% 40.66% 40.64% 40.67% 40.67% 40.67% 40.68% 40.67% 40.69%
No. of Shareholders 30,73529,98232,17832,71233,05933,14232,97033,13133,09932,75632,34331,851

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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