The shares of Setco Automotive Limited were trading at ₹13.44 up by ₹1.22 or 9.98 per cent on the NSE today at 12.30 pm.
Setco Automotive Limited has successfully shipped flywheels and covers to the US market through its subsidiary Lava Cast, marking a significant milestone in the company’s export strategy. The December 5th, 2024 shipment targets leading auto and aftermarket distributors in the United States.
The export consignment leverages Setco’s advanced manufacturing capabilities at its fully automated Lava Cast facility. Chairman and Managing Director Harish Sheth highlighted the strategic importance of the shipment, noting the potential for higher margins in export markets compared to domestic sales.
The company plans to scale up international operations for clutches, flywheels, and castings. Established in 1982, Setco Automotive specializes in commercial vehicle components, with a diverse product portfolio including brake linings, clutches, and release bearing assemblies.
Setco operates five manufacturing units and maintains research and development facilities in India and the UK. The company’s global market presence spans the US, UK, SAARC, and Middle East regions. This latest export shipment underscores the company’s commitment to expanding its international footprint and delivering high-quality automotive components to global customers.
