As of 6 Nov 2026, Setco Automotive trades at 0.9× trailing earnings, below the industry P/E of 25.6×, and the shares are 39% below their 52-week high. Sales grew 14% a year over 3 years, though net profit is above operating profit, which points to a one-off gain. Its net worth is negative, as liabilities exceed assets, and borrowings are ₹1,071 Cr. It is a small-cap company with a market cap of ₹234 Cr, ranked 105th of 140 Auto Parts companies by market cap; the shares fell 9.4% over the past year.
- ₹16.93
- ₹17.75
- ₹16.93
- ₹16.93
- 1 L
Health check
- ReturnsBehind
−9.4% over a year, better than 2 of 7 peers.
- Price tagNegative equity
Book value is below zero, so P/E and P/B mislead here.
- GrowthSteady
Sales +13.8% a year over 3 years.
- ProfitabilityDistorted
With negative net worth, return ratios are meaningless.
- Balance sheetStretched
Negative net worth: liabilities exceed assets.
- Red flags4 to check
Negative net worth: liabilities exceed assets.
Small cap
Defensive
Key metrics
- Market cap
- ₹234 Cr
- Small cap
- P/E
- 0.9
- Industry 25.6
- Price to book
- −0.40
- Peers 8.75
- Dividend yield
- 149.17%
- ROE
- n/a
- Peers 12.3%
- ROCE
- n/a
- Peers 15.6%
- Debt to equity
- n/a
- Debt ₹1,071 Cr
- EPS (TTM)
- ₹18.39
- Face value ₹2
- OPM (TTM)
- 9.4%
- Net margin 29.4%
- Sales growth
- +12.3%
- Latest quarter vs a year ago
- Profit growth
- n/a
- Year-ago quarter not reported
- Price to sales
- 0.29
- EV/EBITDA 13.6
Strengths and risks
Strengths
- Dividend yield of 149.17%.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Negative net worth: liabilities exceed assets.
- Net profit is above operating profit, so a one-off gain is likely flattering earnings.
- 39% below its 52-week high.
- Interest coverage of only 1.9×.
About Setco Automotive
Shilayan Industries Limited, together with its subsidiaries, manufactures and trades in clutches and other automotive components in India and internationally. The company offers brake linings; clutch products for commercial vehicles and farm tractors comprising cover and disc assemblies, and repair kits; clutch release and center support bearings; flywheels; universal joint crosses; water pumps; load cushions; torque rod bushes; and lubricants, such as…
- Headquarters
- Mumbai
- Sector
- Consumer Cyclical
- ISIN
- INE878E01021
- Website
- shilayanindustries.com
Price range
- Avg volume (3M)
- 60.6K
- 1-year return
- minus 9.4%
- From 52-week high
- minus 39.1%
Peers · Auto Parts
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| MOTHERSONSamvardhana Motherson International | 158.55 | minus 5.62% | 1,68,549 | 35.4 | 3.70 | 11.5% | 10.2% | 9.6% | 17.1% | 37.2% | 0.32% | plus 60.8% |
| BOSCHLTDBosch | 50,700.00 | minus 3.38% | 1,49,545 | 54.2 | 19.50 | 24.2% | 19.4% | 13.4% | 10.3% | 24.8% | 0.53% | plus 38.6% |
| UNOMINDAUNO Minda | 1,326.00 | minus 0.67% | 76,572 | 58.1 | 11.21 | 20.5% | 19.1% | 11.0% | 20.5% | 22.3% | 0.22% | plus 6.6% |
| SONACOMSSona BLW Precision Forgings | 900.00 | minus 1.67% | 56,266 | 75.0 | 8.75 | 13.2% | 11.9% | 23.2% | 18.8% | 17.4% | 0.40% | plus 89.2% |
| SCHAEFFLERSchaeffler India | 3,519.70 | minus 1.17% | 55,014 | 41.9 | 8.97 | 25.7% | 20.2% | 17.9% | 12.3% | 9.4% | 0.99% | minus 13.9% |
| MRFMRF | 1,25,295.00 | minus 0.50% | 53,139 | 22.0 | 2.53 | 15.6% | 12.3% | 15.1% | 10.6% | 46.7% | 0.19% | minus 20.3% |
| BALKRISINDBalkrishna Industries | 2,410.00 | plus 0.34% | 46,589 | 32.7 | 4.25 | 13.8% | 11.6% | 21.1% | 3.6% | 5.5% | 0.71% | plus 1.6% |
| SETCOSetco Automotive | 17.43 | plus 2.95% | 234 | 0.9 | −0.40 | – | – | 9.4% | – | – | 149.17% | minus 9.4% |
| Median of 7 peers | – | −1.17% | 56,266 | 41.9 | 8.75 | 15.6% | 12.3% | 15.1% | 12.3% | 22.3% | 0.40% | 6.6% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 47.1 | 179 | 197 | 251 | 52.9 | |
| 47.1 | 155 | 168 | 228 | 65 | |
| 0 | 24.2 | 28.9 | 23 | −12.1 | |
| 0.1% | 13.5% | 14.7% | 9.2% | −22.8% | |
| 1 | 1.1 | 0.7 | 134 | 218 | |
| 2.3 | 61.1 | 62.2 | – | 1.8 | |
| 3.2 | 6.7 | 6.4 | 8.4 | 2.2 | |
| −1.1 | 1.1 | – | −11.4 | 2.1 | |
| −5.6 | −41.3 | −39 | 137 | 204 | |
| 27.1% | 0.0% | −46.7% | 0.6% | – | |
| −34.9 | −26.7 | −50.7 | 119 | 204 | |
| -2.61 | -1.99 | -3.79 | 8.93 | 15.22 |
Profit & loss
- Sales CAGR 3Y
- +13.8%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 546 | 641 | 719 | 805 | |
| – | +17.4% | +12.2% | +12.0% | |
| 517 | 568 | 609 | 706 | |
| 28.5 | 72.7 | 110 | 99.2 | |
| 5.2% | 11.4% | 15.3% | 12.3% | |
| 10.2 | −1.2 | 4 | 6.3 | |
| 151 | 178 | 214 | 52.6 | |
| 38.4 | 34.7 | 32.1 | 29.2 | |
| −10.2 | −0.7 | 3.6 | −10.5 | |
| −161 | −141 | −129 | 13.2 | |
| −19.3% | 4.4% | 2.2% | 132.4% | |
| −152 | −113 | −105 | −0.1 | |
| -11.40 | -8.42 | -7.86 | -0.01 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 26.8 | 26.8 | 26.8 | 26.8 | |
| −384 | −497 | −603 | −614 | |
| 873 | 988 | 1,116 | 1,071 | |
| 59.1 | 38.5 | 35.9 | 50.9 | |
| 574 | 556 | 575 | 534 | |
| 211 | 195 | 179 | 166 | |
| 0 | 0 | 0.2 | 3.1 | |
| 83.1 | 83.1 | 83.1 | 71.7 | |
| 16.2 | 13.6 | 19.5 | 38.9 | |
| 264 | 264 | 293 | 255 | |
| 574 | 556 | 575 | 534 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 47.5 | 69.2 | 89.2 | 234 | |
| −11 | −7.2 | −5.4 | 5.6 | |
| −40.3 | −64.4 | −77.4 | −218 | |
| −3.7 | −2.4 | 6.5 | 21.2 | |
| −11.9 | −7.6 | −12.3 | −6.1 | |
| 35.7 | 61.5 | 77 | 228 |
Shareholding pattern
- Promoters59.25%
- Public40.75%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 59.25% | 40.75% | 0.00 | |
| 30 Jun 2026 | 59.25% | 40.75% | 0.00 | |
| 31 Mar 2026 | 59.25% | 40.75% | 0.00 | |
| 31 Dec 2025 | 59.25% | 40.75% | 0.00 | |
| 30 Sep 2025 | 59.25% | 40.75% | – |
Major shareholders
Filings & events
News
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