Setco Automotive Limited has confirmed the record date for its 43rd Annual General Meeting (AGM). The company’s Board of Directors approved the convening of the meeting during a session held on September 4, 2026.

The AGM is scheduled to take place on September 30, 2026, at the company’s registered office in Alindra Village, Vadodara Godhra Highway, Kalol, Panchmahal, Gujarat.

Book Closure Details

Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Section 91 of the Companies Act, 2013, the Register of Members and Share Transfer Books will remain closed for equity securities from September 24, 2026, to September 30, 2026, inclusive.

Shareholders registered within this six-day window will be eligible to attend and vote at the general meeting. The closure ensures an accurate record of shareholders entitled to participate in the proceedings.

Regulatory Compliance

The disclosure was made in compliance with SEBI regulations. The Board meeting commenced at 10:00 am and concluded at 11:00 am. Aditi Pai, Company Secretary, signed the communication confirming the outcomes.

Statutory auditors Sharp & Tannan Associates issued a qualified opinion on the consolidated audited financial statements of Setco Automotive for the fiscal year ended March 31, 2026. The qualification stems from the failure to prepare consolidated financial statements for its UK subsidiary in accordance with International Financial Reporting Standards (IFRS) 10.

The disclosure was made pursuant to Regulation 33(3)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and a SEBI Master Circular dated January 30, 2026. This marks the first time this specific qualification has appeared in the company's audit reports.

Financial Overview

Despite the audit qualification, management stated there is no quantifiable financial impact on the reported figures. The consolidated results for FY26 show a turnover of ₹81,674 lakh against total expenditure of ₹79,221 lakh, resulting in a net loss of ₹4.28 lakh.

What the Numbers Show

The balance sheet reveals a significant negative net worth of ₹70,817 lakh, driven by total liabilities exceeding total assets by more than double. With total liabilities at ₹1,24,255 lakh against assets of only ₹53,438 lakh, the company’s capital structure indicates substantial leverage or accumulated losses impacting equity. The audit qualification specifically cites Setco Automotive (UK) Limited, noting that consolidated statements are necessary for a proper understanding of the group’s state of affairs under IFRS 10.

Management and Auditor Sign-offs

The declaration was signed by Aditi Pai, Company Secretary, on September 1, 2026. The statement on the impact of audit qualifications was countersigned by key leadership and audit partners:

• Harish Sheth, Chairman & Managing Director
• Vijay Kalra, Audit Committee Chairman
• Anurag Jain, Chief Financial Officer
• Pramod Bhise, Partner at Sharp & Tannan Associates