What we do Setco Automotive Limited manufactures clutch driven plates, clutch cover assemblies, and allied hydraulic products for commercial vehicles globally. It serves OEMs, aftermarket, and exports. |
Founded in 1,982 |
Market share Market leader with approximately 65% share in India's M&HCV clutch segment and significant global presence via subsidiaries. |
Problem solved Provides high-quality clutch systems enhancing vehicle drivability, protecting engine-gearbox, and meeting global standards including BS-VI norms. |
Top clients or who we serve OEMs like Tata Motors, Ashok Leyland, Daimler, Mahindra, Volvo Eicher; focuses on B2B and aftermarket for commercial vehicles and tractors. |
Key management Harish Sheth (Chairman & Managing Director), Udit Sheth (Vice Chairman & Whole-time Director), Urja Shah (Whole-time Director) |
Our journey and innovations Founded in 1982, technical collaboration with Lipe UK in 2001; global expansion with subsidiaries in UK, USA, Mauritius; launched BS-VI clutches and new products till 2025. |
Where we operate India, United Kingdom, United States, Dubai, Mauritius with exports to Europe, USA, Middle East, Africa, Central Asia, Latin America, and South Asia. |
Top products or what we offer M&HCV clutches, tractor clutches, clutch cover assemblies, dual clutch, diaphragm clutches, clutch release bearings, allied products like flywheels, bearings, brakes, lubricants. |
Top brands Setco clutches (#1 in M&HCV India), Lipe (legacy global brand acquired via acquisition), Lava Cast foundry products, Setco allied aftermarket products. |
Raw materials needed Steel and other metals for clutch components, specialized ceramics for linings, lubricants and hydraulic materials. |
Raw materials supplier Primarily domestic suppliers in India; imports for critical components from global suppliers as needed. |
Recurring vs cyclical contribution Revenue driven by combination of recurring aftermarket sales and cyclical OEM vehicle production cycles. |
Our industry position Largest producer of M&HCV clutches in India with leadership in OEM and aftermarket segments, supported by global footprints. |
Financial highlights FY25 revenue Rs. 718.6 crore (+12.2% YoY), EBITDA Rs. 109.2 crore (+50.7% YoY), net loss Rs. 126.33 crore; steady margin improvement and operational turnaround ongoing. |
Geographical revenue split Operations and revenue from India, UK, USA and exports spanning EU, USA, Middle East, Africa, Central Asia and Latin America. |
Order book - |
Whats driving growth Growth driven by exports, increased OEM and aftermarket sales, operational efficiencies, product innovation especially for BS-VI and new allied products. |
Our future plans Expand global market presence, diversify product portfolio into LCVs and passenger vehicles, increase exports via subsidiaries, leverage R&D for future-ready clutch systems. |
Our green promise ISO 14001 certified facilities, zero liquid discharge initiatives at foundry, dust suppression, solar power integration underway, scrap recycling and efficient material handling. |
Our people and values Focus on talent development, employee engagement, ethical business practices, diversity and rigorous compliance to workplace safety and harassment prevention. |
Key challenges ahead Managing global economic and regulatory uncertainties, raw material sourcing challenges, turnaround from losses, and competition in domestic and global markets. |
Interesting facts Setco commands 65% market share in Indian M&HCV clutches, operates 4 global plants, and has pioneered clutch technology for Indian driving conditions since 1982. |
Risks and strategy Risks include raw material cost volatility and demand cyclicality; mitigated through operational efficiencies, R&D innovation, global diversification and robust risk management. |
