Setco Automotive Board Approves FY26 Results, Reappoints Key Management
Setco Automotive's Board approved FY26 results. Key appointments include Aditi Pai as Company Secretary. Re-appointments: Harish Sheth (Chairman & MD), Udit Sheth (Vice Chairman), Urja Shah (Whole-time Director). Consolidated profit before tax ₹8,507 lakh vs loss ₹350 lakh YoY. Standalone profit before tax ₹8,507 lakh vs loss ₹350 lakh YoY.
The approval of financial results, coupled with significant management re-appointments and a substantial improvement in profitability, will have a material impact on investor perception and the company's future strategic direction.
The company reported a significant turnaround in its financial performance, moving from a loss to a profit on both consolidated and standalone bases. The re-appointment of key management personnel also indicates stability.
Setco Automotive Limited announced the outcome of its Board Meeting held on August 31, 2026. The Board approved the audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2026.
Key management changes were also noted, including the resignation of Mr. Hiren Vala as Company Secretary and Compliance Officer, and the appointment of Ms. Aditi Pai to the same role, effective July 13, 2026. The Board also approved the re-appointment of Mr. Harish Sheth as Chairman & Managing Director for a three-year term starting January 1, 2027. Additionally, Mr. Udit Harish Sheth was re-appointed as Vice Chairman and Executive Director for a three-year term effective May 1, 2026, and Mrs. Urja Shah was re-appointed as Whole-time Director for a three-year term effective November 11, 2026.
The company also disclosed a modified opinion on its consolidated audited financial statements for the year ended March 31, 2026, while maintaining an unmodified opinion on the standalone statements. The financial results for the year ended March 31, 2026, show a profit before tax of ₹8,507 lakhs on a consolidated basis, compared to a loss of ₹350 lakhs in the previous year. Standalone profit before tax was ₹8,374 lakhs for the quarter and ₹8,507 lakhs for the year, a significant improvement from the previous year's loss of ₹94 lakhs for the quarter and ₹350 lakhs for the year. A significant exceptional item of ₹8,290 lakhs related to the reversal of impairment loss on investment in a subsidiary was recorded for the standalone results.
A plain-language summary of a public exchange filing by Setco Automotive Limited. Read the original for the full detail.