Setco Automotive Q4FY18 profit accelerates 51 per cent

Setco Automotive reported its results for the quarter ended March 31, 2018. The company’s standalone revenue for the quarter came in at Rs. 175.56 crore, registering 4.9 per cent yoy decline.
  
EBITDA for the quarter rose by 23.6 per cent yoy to Rs. 29.1 crore with a corresponding margin expansion of 382 bps. EBITDA margin for the quarter stood at 16.6 per cent.
  
The PAT for the quarter came in at Rs. 15.67 crore, yoy increase of 51.4 per cent. This was led by jump in other income from Rs. 1.69 crore to Rs. 5.52 crore in Q4FY18.
  
Looking at the full year numbers, we see that revenue slid by 3 per cent to reach Rs. 529.02 crore while EBITDA rose by 2 per cent to 66.24 crore. The company reported net profit of Rs. 28.81 crore, up 56 per cent yoy.
  
The board of directors has recommended a final dividend of Rs 0.80 per equity share of the face value of Rs 2 each.
  
Setco Automotive is the third largest clutch manufacturing company in the world in terms of volumes. It commands over 85 per cent of the OEM M&HCV clutch market, meets 100 per cent requirement of Tata Motors, Bharat Benz and Eicher Volvo and caters 65 per cent demand of Ashok Leyland.
  
On Thursday, the stock opened at Rs. 54.05, up by almost 4 per cent and made an intraday high of Rs. 55.35 on the BSE.