Setco Automotive Ltd
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]
- 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
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
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
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% |
Documents
Announcements
- Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015 27 Nov
- Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015 27 Nov
- Intimation Of Appointment Of Key Managerial Personnel (KMP) - The Chief Financial Officer 18 Nov
- Disclosure Of Related Party Transactions Pursuant To Regulation 23(9) Of The SEBI (LODR) Regulations, 2015 10 Nov
- Outcome Of Board Meeting In Accordance With SEBI (LODR) Regulations, 2015 10 Nov
Annual reports
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2010
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Financial Year 2009
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Financial Year 2008
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Concalls
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Aug 2021TranscriptNotesPPT
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Feb 2021TranscriptNotesPPT
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Sep 2020TranscriptPPT
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Sep 2020TranscriptPPT
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Sep 2019TranscriptPPT
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Jun 2019TranscriptPPT
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Feb 2019TranscriptPPT
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Oct 2018TranscriptNotesPPT
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Jul 2018Transcript PPT
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May 2018TranscriptNotesPPT
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May 2018TranscriptNotesPPT
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Mar 2018Transcript PPT
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Dec 2017Transcript PPT
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Sep 2017Transcript PPT
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Jun 2017TranscriptNotesPPT
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Feb 2017TranscriptPPT
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Nov 2016TranscriptPPT
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Aug 2016TranscriptPPT
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Jun 2016TranscriptPPT
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]