Setco Automotive Ltd (SETCO)

Automobile and Auto Components · Auto Ancillaries · NSE · Updated 1 September 2026

By StockFin Research Team • AI-Assisted Analysis • Source: BSE/NSE Filings

₹17.81 ↑ 10.28% (1Y)

🎯 Key Takeaways

Setco Automotive is undergoing a strategic transformation marked by the divestment of its subsidiary SASPL and leadership continuity, signaling a shift toward core automotive components and capital reallocation. The company maintains a stable promoter holding while navigating regulatory and operational refinements post-merger approvals.
Revenue grew 27.5% QoQ to ₹251 in Q4FY26.
⚠️ The company faces execution risk in completing the SASPL divestment, which is critical for capital allocation and strategic focus. Prolonged regulator

Market Cap

₹238

P/E Ratio

33.0

P/B Ratio

-0.34

ROE

0.6%

ROCE

16.4%

Debt/Equity

-1.61

Promoter

59.3%

✨ Ask AI About SETCO 📊 Interactive Charts

📖 The Story

Setco Automotive is undergoing a strategic transformation marked by the divestment of its subsidiary SASPL and leadership continuity, signaling a shift toward core automotive components and capital reallocation. The company maintains a stable promoter holding while navigating regulatory and operational refinements post-merger approvals.

📰 What's Happening

In August 2026, the board approved audited FY2026 results showing ₹8374 crore revenue and ₹8507 crore comprehensive income, alongside a ₹13 interim dividend. Key actions included reappointments of directors, approval of a merger scheme, and the first tranche of a phased divestment of SASPL to RSB Transmissions for ₹215 crore. Management plans to sell the residual 24% stake by August 31, 2027, subject to NCLT, shareholder, and creditor approvals. Earlier, in June 2026, the company faced a delay in filing audited results due to extended audit procedures, pushing submission to immediately after completion.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	211	179	179	197	251
Operating Profit	33	14	18	22	15
OPM %	15.5%	7.8%	9.8%	11.4%	5.8%
Net Profit	-22	-42	-41	-57	136
EPS	₹-1.37	₹-2.61	₹-1.99	₹-3.79	₹8.93

Revenue has shown volatility over the past year, peaking at ₹251 crore in March 2026 before declining from a high of ₹211 crore in March 2025, with operating margins contracting from 15.5% to 5.8% in the same period. Profitability remains negative in Q4 and Q3 2025, though operating performance improved sequentially in the latest quarter. Despite revenue fluctuations, the company reported a positive operating cash flow of ₹89 crore in March 2025, indicating underlying cash generation amid transitional financials.

🔮 Management Outlook & What's Next

Management has indicated plans to complete the residual divestment of SASPL by August 31, 2027, contingent on regulatory and stakeholder approvals, which will likely unlock value and streamline operations. The board emphasized continuity in leadership with key appointments and reappointments, reinforcing governance stability. No forward revenue or margin guidance was provided in the latest filings, but the divestment strategy appears central to future growth and capital efficiency.

Extracted from official company announcements. Not StockFin.ai's opinion.

🏦 Balance Sheet (₹ Cr)

Item	Mar 2024	Mar 2025	Mar 2025	Mar 2026	Mar 2026
Equity Capital	27	27	27	27	27
Reserves	-593	-660	-721	-807	-735
Borrowings	988	1,056	1,116	1,178	1,071
Total Liabilities	556	566	575	551	534
Fixed Assets	195	188	232	169	163
Investments	83	83	83	83	72
Total Assets	556	566	575	551	534

The balance sheet reflects a high debt burden with net borrowings of ₹1,071 crore as of March 2026, up from ₹1,116 crore a year earlier, despite stable equity. Reserves remain deeply negative, suggesting accumulated losses, while total assets have slightly declined. The company is not deleveraging aggressively but may use proceeds from SASPL sales to reduce debt or fund strategic initiatives.

💰 Cash Flow Statement (₹ Cr)

Item	Mar 2025
Operating	+89
Investing	-5
Financing	-77
Net Cash Flow	+6

👥 Shareholding Pattern

Category	Q2FY26	Q3FY26	Q4FY26	Q1FY27
Promoters	59.3%	59.3%	59.3%	59.3%
FII	0.1%	0.1%	0.0%	0.1%
DII	0.0%	0.0%	0.0%	0.0%
Public	33.8%	33.9%	34.0%	34.5%
# Shareholders	30,253	29,518	28,724	28,600

Promoter holding remains stable at 59.25% across all quarters, indicating no dilution or stake reduction. Institutional ownership (FII) is minimal and fluctuating, with a slight increase from 0.03% to 0.08% in recent quarters, while DII remains at zero. The growing number of public shareholders suggests rising retail interest, but overall institutional engagement remains limited.

⚖️ Peer Comparison — Auto Ancillaries

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
MOTHERSON	1.76 L Cr	40.1	13.9%	11.0%	0.39
BOSCHLTD	1.44 L Cr	61.1	21.7%	15.9%	0.00
UNOMINDA	73,774	61.3	19.3%	18.9%	0.37
SONACOMS	50,497	72.5	15.2%	11.5%	0.04
ENDURANCE	40,405	41.7	17.3%	14.2%	0.15
EXIDEIND	37,443	40.2	9.8%	6.7%	0.08
CRAFTSMAN	29,279	55.7	14.7%	14.2%	1.02
ZFCVINDIA	28,863	11.7	18.3%	13.5%	0.00
GABRIEL	25,551	67.5	32.0%	25.6%	0.06
SUNDRMFAST	25,335	41.5	17.4%	14.3%	0.14

🔗 Peer Stock Analyses

MOTHERSON BOSCHLTD UNOMINDA SONACOMS ENDURANCE

⚠️ Risk Factors

The company faces execution risk in completing the SASPL divestment, which is critical for capital allocation and strategic focus. Prolonged regulatory delays or creditor opposition could stall the transaction. Additionally, persistent negative reserves and high leverage pose financial instability risks, especially if operating cash flows remain inconsistent amid core business volatility.

📋 Recent Filings

🧠 Analyst's Read

Setco Automotive is in a transitional phase, shedding non-core assets and stabilizing governance, but financial performance remains uneven with declining margins and volatile revenues. The success of its divestment strategy and debt management will be pivotal for future resilience and investor confidence.

Based on filing content and financial data. Not a recommendation.

Read the full analysis

Quarterly trends, balance sheet, cash flow, peer comparison, and AI insights — sign up free to unlock.

2 free AI queries per day.

✨ Deep Dive with AI on SETCO

Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-01.

Editorial & Data Transparency Notice

This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.

📡 Get AI alerts when SETCO files new disclosures

Track SETCO filings, board meetings, and corporate actions. Free email alerts at 5 PM.

Track SETCO — Free

Free account · 2 AI queries/day

About · Privacy Policy · Terms of Service · Pricing

Today's Announcements · Screener · Insights · AI Chat

Data provided by CMOTS Internet Technologies Pvt Ltd