Setco eyes Rs 1k cr turnover by 2015

Backed by a Rs 100 crore expansion in clutch manufacturing, Kalol-based Setco Automotive Ltd. is eyeing a Rs 1,000 crore turnover by 2015. The company is more than doubling its clutch and clutch disc manufacturing capacities at its Kalol near Vadodara and Uttarakhand plants.

"This year the company will be growing at a rate of over 40 per cent in terms of turnover. Soon, we will be expanding our manufacturing capacities for clutches and clutch discs. By 2015, we are looking at a turnover of Rs 1,000 crore per annum," said Harish Sheth, CMD, Setco Automotive.

While majority of the Rs 100 crore investment will be infused into the Kalol plant, part of its will also be utilised for capacity expansion and R&D at the Uttarakhand plant. From the current 500,000 clutches and 700,000 clutch discs, the company is intending to more than double the capacities in the next three years.

 

"The market for clutches is expected to grow considerably. Moreover, we expect exports to be 15 per cent of the total revenue in near future. With newer export markets like the US and Latin America, we believe the demand for clutches is only set to grow. This has led us to expanding our capacities," said Sheth.

Setco Automotive is a premier manufacturer of clutch products for the automotive and hydraulic products for construction equipment industry. In addition, Setco also manufactures precision engineering components like complex and deep drawn pressings and forgings and castings that are machined and heat-treated.