Setco Automotive (SETCO) — concall transcript

📢 Key Event
Setco reported Q1 FY21 loss due to 30% revenue drop from industry disruption, skipping dividends for the first time in 20 years.

🔄 What Changed
30% revenue decline, first dividend skip in 20 years, fixed cost savings initiated, aftermarket demand recovering faster than OE.

🔮 What's Next
Production to reach Rs. 50 crores monthly by Q3 FY21; full fixed cost savings impact expected in FY22; tractor segment supplies expected to begin in Q3; export orders targeting 5,000-8,000 metric tonnes annually.

💡 Investor Takeaway
The company is stabilizing through cost cuts and aftermarket recovery, with diversification into tractors and exports offering long-term diversification benefits beyond the cyclical commercial vehicle market.

Setco Automotive reported a loss in Q1 FY21 due to a 30% revenue decline from industry turmoil, skipping dividends for the first time in 20 years. Management expects aftermarket demand to recover to pre-COVID levels by August, with production ramping to Rs. 50 crores monthly by Q3. Fixed cost savings are underway, with full benefits expected in FY22. Diversification into tractor components and export opportunities for castings are progressing, targeting 5,000-8,000 metric tonnes annually. Current capacity utilization stands at 70-75% at Rs. 50 crores monthly output.

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About Setco Automotive Ltd (SETCO)

Automobile and Auto Components · Auto Ancillaries · Listed on BSE

Market Cap: ₹230.08 Cr P/E: 31.9 ROE: 0.6% ROCE: 16.4%

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🔥 Also filed on 30 June 2020

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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