SETL’s Q1 profit soars 26.6% to Rs 26.7 crore

Leading high-precision engineering company, Standard Engineering Technology Limited (SETL) reported a 26.6 per cent growth in its net profit to Rs 26.7 crore in the first quarter of ongoing financial year. Its total income came at Rs 252.2 crore, an increase of 41.5 per centin Q1 of FY27 as compared to same period last fiscal year.

The company reported a PAT (profit after tax) margin of 10.6 percent during the quarter. The engineering company continued to report sound growth despite its aggressive investment into new growth platforms.

Earlier, the company has entered into high-growth data centre business by announcing its planned acquisition of up to 51 per cent stake in GScale Energy.

This proposed acquisition is likely to create a second growth engine for the company, backed by around Rs 500 crore self-funded capital programme to build an integrated datacentre engineering and manufacturing platform, the company said.

Last month, SETL also strengthened its near-decade-long technology relationship with GL Hakko Coof Japan by investing Rs 71.5 crore for an initial 19.19 per cent stake in the company. Under the agreement, the company can scale up to 51 per centstake in the Japanese firm over next three years.