Setco Automotive Limited has submitted to the Exchange, the financial results for the period ended December 31, 2025.
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Setco Automotive reported consolidated revenue of Rs. 19,655 lakhs for Q3 FY26, up about 11% year-on-year, with nine-month revenue at Rs. 55,430 lakhs (vs Rs. 49,976 lakhs). However, the company deepened its consolidated loss to Rs. 5,718 lakhs in Q3 (from Rs. 3,442 lakhs loss a year ago), with nine-month loss at Rs. 14,069 lakhs versus Rs. 10,451 lakhs in the prior period, giving a negative EPS of Rs. 8.94 for nine months. Standalone results were minimal as the standalone entity is largely a holding company with just Rs. 86 lakhs in nine-month operating revenue. Two subsidiaries (SASPL and Lava Cast) were flagged by auditors with material uncertainty about their ability to continue as going concerns due to negative net worth (Rs. 80,515 lakhs and Rs. 13,384 lakhs respectively) and mounting losses. Non-convertible debentures of Rs. 57,450 lakhs had their maturity extended again from January to March 31, 2026. Separately, SEBI has ordered penalties and market access restrictions on the company's Executive Directors and former CEO for alleged related-party transaction violations, with the Managing Director and Whole-Time Director directed to repay amounts with 23% interest; the company is filing an appeal.
Negative for shareholders: widening consolidated losses despite revenue growth, going-concern flags at key subsidiaries, repeated NCD maturity extensions signalling debt stress, and an adverse SEBI order against senior management over related-party dealings — all of which raise serious concerns about the group's financial health and governance.