Lava cast successfully ships export of Flywheels and Covers to the USA market

Setco Automotive Limited (BSE: 505075, NSE: SETCO), one of India's largest manufacturers of MHCV clutches and a premium supplier of truck products, is proud to announce the successful export shipment of flywheels and covers to the US market manufactured by Lava Cast. This achievement underscores the company's commitment to expanding its global footprint and delivering high-quality products to a diverse customer base.

The shipment includes flywheels tailored for leading auto and auto ancillary players in the USA and covers designed for aftermarket distributors and remanufacturers. This consignment represents a significant milestone in Setco's export journey, as the company looks to capitalize on the growing demand for high-quality automotive components in international markets.

Key Highlights of the Export

Superior Product Competitiveness:

Setco's advanced Lava Cast facility, equipped with a fully automated production line, played a pivotal role in manufacturing these flywheels and covers. The facility ensures precision, consistency, and cost-efficiency, providing a competitive edge in global markets.

Quality Through Innovation:

The products developed showcases Setco's commitment to innovation and its ability to cater to the specific requirements of domestic as well as international customers.

Strategic Growth in Export Markets:

The US market offers significant growth potential, with exports commanding higher margins compared to domestic sales. Setco plans to scale up its international operations for Clutches, Flywheels and Castings through Lava Cast, which could contribute meaningfully to the company's overall revenues.

Commenting on this development, Mr. Harish Sheth, Chairman & MD, Setco Automotive Ltd. said, "This recent export shipment is a testament to our strategic initiatives and relentless efforts over the past few years. The competitive edge of our Lava Cast products, coupled with the higher margins offered by export markets, positions us strongly for sustained growth. We firmly believe the worst is behind us, and now is the time to reap the rewards of our hard work. As we expand our presence in both domestic and international markets, we remain committed to delivering superior quality and innovative solutions to our customers worldwide."

Shares of Setco Automotive Limited was last trading in BSE at Rs. 12.41 as compared to the previous close of Rs. 11.82. The total number of shares traded during the day was 50938 in over 51 trades.

The stock hit an intraday high of Rs. 12.41 and intraday low of 12.39. The net turnover during the day was Rs. 632091.00.

Source : Equity Bulls

Keywords

SetcoAutomotive INE878E01021 Exports Flywheels Covers USAMarket