3 weeks ago

SETL Q1 net profit rises 26.6% to Rs 26.7 crore

SETL Q1 net profit rises 26.6% to Rs 26.7 crore
SETL posts 26.6% increase in Q1 net profit at Rs 26.7 cr · thehansindia.com

SETL is a company that makes very precise engineering parts.

In the first three months of the new financial year, it made a profit of Rs 26.7 crore.

That is about 26.6 percent more money than it earned at the same time last year.

Its total income also jumped 41.5 percent to Rs 252.2 crore.

The company did well even while spending a lot of money on new projects.

SETL now wants to enter the data centre business, where big buildings hold thousands of computers.

To do this, it plans to buy up to 51 percent of a company called GScale Energy.

It also invested Rs 71.5 crore in a Japanese company called GL Hakko.

The board also approved raising Rs 136.5 crore to help pay for these plans.

Thanks to these moves, SETL is growing its business both at home and in other countries.

Key facts

Company
Standard Engineering Technology Limited (SETL)
Q1 net profit
Rs 26.7 crore (up 26.6%)
Total income
Rs 252.2 crore (up 41.5%)
PAT margin
10.6%
Planned acquisition
Up to 51% stake in GScale Energy (data centre business)
Capital programme
Around Rs 500 crore self-funded
GL Hakko investment
Rs 71.5 crore for initial 19.19% stake, scalable to 51% over three years
Approved fund raise
Rs 136.5 crore preferential allotment

Quotes

Nageswara Rao Kandula

Managing Director of SETL

“The performance of first quarter (Q1FY27) is evidence of consistent, repeatable performance rather than a one-off achievement as SETL is becoming "India's high precision engineering power house."”
thehansindia.com

Sources

Related news