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Setco’s Arduous Road To Recovery

After a steep decline, Setco Automotive is charting a bold comeback—revamping its core business, expanding into new markets, and redefining its role in India’s commercial vehicle landscape

By Shahkar Abidi & Kiran Murali calendar 03 Mar 2025 Views icon3170 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
Setco’s Arduous Road To Recovery

In fiscal year 2019, Setco Automotive stood at the summit of its industry, reporting a peak revenue of Rs 686 crore. As a dominant supplier of clutches to India’s medium- and heavy-commercial vehicle (M&HCV) market, the company seemed well-positioned for sustained growth. Yet, within two years, the ground beneath it had shifted dramatically. A confluence of regulatory shifts and economic disruptions sent the company into a downward spiral, cutting its revenues nearly in half.

The trouble began with a policy adjustment that, at first glance, appeared beneficial to the logistics sector. The Ministry of Road Transport & Highways revised axle-load ...

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