Setco Automotive Limited has informed the Exchange regarding Board meeting held on February 13, 2026.
SETCO · price
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Setco Automotive's Board approved unaudited financial results for Q3 and nine months ended December 31, 2025. On a consolidated basis, revenue from operations grew about 11% year-on-year to Rs 19,655 lakhs in Q3 and Rs 55,430 lakhs for nine months. However, the consolidated net loss widened sharply to Rs 5,718 lakhs in Q3 (vs Rs 3,442 lakhs loss a year ago) and Rs 14,069 lakhs for nine months (vs Rs 10,451 lakhs loss), dragged down by heavy finance costs of Rs 6,215 lakhs in the quarter. The auditor flagged material uncertainty about the going concern of two subsidiaries — SETCO Auto Systems (negative net worth of Rs 80,515 lakhs) and Lava Cast (negative net worth of Rs 13,384 lakhs). The company also disclosed a SEBI order dated February 5, 2026 against certain directors and ex-CEO over alleged past related-party transaction violations, with penalties, market access bans, and a direction to repay amounts with 23% interest; the company says it is appealing and that no direct financial liability falls on it. Additionally, Rs 57,450 lakhs of non-convertible debentures, originally due September 2025, have been further extended to March 31, 2026. Mahesh Udhwani & Co. was appointed as Internal Auditor for FY 2026-27.
Negative for shareholders: widening consolidated losses, going-concern flags on key subsidiaries, and a SEBI regulatory action against senior directors raise serious concerns about the group's financial health and governance, even though the standalone entity showed a small profit. The repeated extension of NCD redemptions signals continued liquidity stress.