Setco Automotive CFO Kuldeep Singh Resigns

Setco Automotive Limited has announced the resignation of Kuldeep Singh from his role as Chief Financial Officer (CFO) and Key Managerial Personnel, effective from the close of business hours on April 18, 2025. The company shared this update in a regulatory filing to both BSE and the National Stock Exchange (NSE) under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

According to the disclosure, Singh has stepped down from his position citing personal reasons. His resignation also marks his cessation as a senior management personnel of the company. Setco Automotive confirmed that the resignation letter submitted by Singh has been formally accepted and annexed in the filing.

The company stated that all necessary details as per the SEBI circular dated July 13, 2023, have been provided and that this development has been shared with the stock exchanges in compliance with applicable regulatory norms.

Setco Automotive has not yet announced a successor to Singh.

Setco Automotive Limited is an Indian company engaged in the manufacture and supply of clutch systems and components for commercial vehicles. Headquartered in Mumbai, the company primarily caters to the medium and heavy commercial vehicle (M&HCV) segment. It has manufacturing facilities located in Kalol (Gujarat), Sitarganj (Uttarakhand), and an overseas unit in the United Kingdom. Setco’s operations cover OEM (Original Equipment Manufacturer), aftermarket, and export segments.

Established in 1982, Setco Automotive has focused on developing clutch solutions that align with evolving industry requirements. The company supplies products to leading domestic and global commercial vehicle manufacturers and also serves the aftermarket through its distribution network. Its product portfolio includes clutch discs, cover assemblies, and clutch systems tailored for various vehicle models. The company’s in-house research and development capabilities support innovation and product customization.

Setco’s subsidiary, LavaCast Pvt. Ltd., operates in the foundry business and supplies castings, primarily for automotive applications. The company’s operations emphasize manufacturing quality and maintaining standards consistent with OEM expectations. Through its manufacturing and foundry infrastructure, Setco aims to support both captive and third-party requirements.

Over the years, Setco Automotive has also engaged in strategic partnerships and technology development to expand its footprint in the commercial vehicle component segment. While the company’s primary market remains India, its presence in international markets contributes to its overall business performance.

Setco is a publicly listed company with its equity shares traded on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). It follows regulatory compliance in line with the Securities and Exchange Board of India (SEBI) guidelines.

As part of its corporate governance practices, Setco regularly updates stakeholders on material events, financial results, and management changes. The company continues to focus on operational efficiency, customer servicing, and long-term sustainability in the automotive components sector.