Setco Automotive Limited has informed the Exchange regarding Board meeting held on August 12, 2025.
SETCO · price
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Setco Automotive's board met on August 12, 2025 and approved unaudited Q1 FY26 results. On a consolidated basis, revenue from operations rose to Rs. 17,875 lakhs (up from Rs. 16,580 lakhs in Q1 FY25, about 7.8% growth), but the company reported a wider loss of Rs. 4,223 lakhs versus Rs. 3,525 lakhs a year ago, with EPS at negative Rs. 2.61. Other equity is deeply negative at Rs. (72,057) lakhs. Standalone numbers are minimal (revenue of just Rs. 38 lakhs) with a small profit of Rs. 99 lakhs. The auditor flagged a 'Material Uncertainty Related to Going Concern' for two subsidiaries — Setco Auto Systems (negative net worth of Rs. 73,429 lakhs) and Lava Cast (negative net worth of Rs. 10,702 lakhs). The board also re-appointed Sharp & Tannan as statutory auditors for 5 years and appointed Shravan A. Gupta & Associates as secretarial auditor. The 42nd AGM is scheduled for September 25, 2025.
Shareholders should note serious concerns at the subsidiary level, where auditors have highlighted going-concern doubts due to massive accumulated losses and negative net worth — even though the parent standalone entity is technically profitable. Consolidated losses continue to widen and equity is deeply eroded, which is a material risk for the stock price and could affect future fundraising or lender confidence.