NSE: FIEMIND · BSE: 532768
FIEM INDUSTRIES LIMITED
Manufactures automotive lighting and rear-view mirrors for Indian vehicle OEMs, with the Automotive Segment contributing 99.8% of FY26 segment revenue (Rs 2,811.02 crore) and the Others Segment the residual 0.2%. LED-based products dominate the auto mix, and the customer base is led by two-wheeler OEMs including TVS, Honda, and Yamaha, with four-wheeler customers including Tata Motors. FY26 consolidated revenue was Rs 2,815.61 crore with EBITDA margin of 14.80%. Materials are the dominant input cost at 60.7% of revenue, followed by employees at 14.0% and other operating expenses at 11.2%; depreciation was 2.6% of revenue. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Automotive Segment (100%), Others Segment (0%). Auto component supplier (lighting, mirrors) tied to Indian OEM production volumes
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1,572 | 1,848 | 2,029 | 2,423 | 2,816 |
| EBITDA (ex other income) | 194 | 249 | 269 | 326 | 396 |
| margin % | 12.3 | 13.5 | 13.2 | 13.5 | 14.1 |
| Owners' profit | 94 | 140 | 166 | 205 | 256 |
| EPS, as reported (₹) | 71.55 | 106.26 | 62.96 | 77.86 | 97.11 |
| ROE % · ROCE % | 14.7 · 19.3 | 18.4 · 23.9 | 18.7 · 24.1 | 19.7 · 25.5 | 21.0 · 26.4 |
| Debt / equity (x) | 0.07 | 0.03 | 0.03 | 0.02 | 0.00 |
| Cash from operations | 92 | 131 | 135 | 233 | 161 |
| Capex | (19) | (55) | (84) | (130) | (126) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 612 | 593 | 639 | 659 | 715 | 690 | 751 | 775 |
| Profit before tax | 68 | 65 | 77 | 78 | 85 | 84 | 95 | 88 |
| Net profit | 50 | 47 | 59 | 58 | 64 | 63 | 71 | 65 |
| EPS (₹) | 19.06 | 17.86 | 22.36 | 21.85 | 24.19 | 24.08 | 26.99 | 24.65 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Automotive Segment | 2,811 | 99.8 |
| Others Segment | 5 | 0.2 |
| Total, before eliminations | 2,816 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| SAMVRDHNA MTHRSN INTL LTD | 1,66,707 | 38.1 | 3.82 | 14.8 | 9.4 | 8.2 | 17.1 | 9.0 |
| BOSCH LIMITED | 1,34,520 | 56.9 | 9.06 | 33.0 | 18.7 | 24.1 | 15.6 | 17.9 |
| BHARAT FORGE LTD | 84,295 | 119.4 | 8.82 | 30.4 | 11.4 | 13.2 | 21.6 | 8.8 |
| UNO MINDA LIMITED | 62,653 | 52.0 | 8.63 | 28.8 | 17.7 | 15.7 | 25.3 | 10.4 |
| SCHAEFFLER INDIA LIMITED | 57,518 | 45.9 | 9.36 | — | 10.4 | 14.1 | — | 19.4 |
| SONA BLW PRECISION FRGS L | 52,988 | 76.1 | 8.64 | 46.0 | 10.3 | 12.9 | — | 25.1 |
| TUBE INVEST OF INDIA LTD | 40,753 | 67.2 | 2.87 | 15.8 | 7.9 | 12.4 | 30.3 | 10.6 |
| ENDURANCE TECHNO. LTD. | 32,042 | 33.0 | 4.68 | 15.7 | 13.9 | 15.6 | 17.4 | 13.2 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 17.0 | 25.0 | 34 of 119 | 72% |
| P/B | 3.7 | 3.3 | 67 of 117 | 43% |
| ROCE | 26.2 | 12.6 | 13 of 125 | 90% |
| ROE | 21.0 | 11.7 | 16 of 117 | 87% |
| Debt / Equity | 0.0 | 0.3 | 1 of 117 | 85% |
| EBITDA margin | 14.0 | 12.2 | 44 of 118 | 63% |
| Revenue growth | 17.7 | 20.2 | 69 of 113 | 39% |
| Profit growth | 12.8 | 24.4 | 69 of 115 | 40% |
| Market cap | 4474 | 1455 | 40 of 126 | 69% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 26 Oct 2026 · Board to approve quarter and half-year results on November 12 | results | low | — | — |
| 12 Oct 2026 · Routine RTA compliance certificate for Q2 FY27 | compliance | minimal | — | — |
| 25 Sept 2026 · Trading Window Closure for Q2 FY26 Financial Results | compliance | minimal | — | — |
| 18 Aug 2026 · FIEM Q1FY27: Revenue up 18.6 percent, EBITDA margin 13.5 percent, guides 14 percent full year | investor communications | medium | — | — |
| 18 Aug 2026 · HDFC Mutual Fund raises FIEM Industries stake to 9.43% | ownership changes | medium | — | — |
| 12 Aug 2026 · Fiem Industries Q1FY27 Investor Presentation Submitted to Exchanges | investor communications | medium | — | — |
| 12 Aug 2026 · Fiem Industries Q1FY27 results: revenue up 18.6% YoY, PAT rises 16.3% | results | high | — | — |
| 5 Aug 2026 · Fiem Industries schedules Q1FY27 earnings call on August 13, 2026 | board shareholder meetings | low | — | — |
| 4 Aug 2026 · Board meeting on Aug 12, 2026 to approve Q1 FY27 results | results | low | — | — |
| 31 Jul 2026 · FIEM promoter Jain family re-designated to key board roles | management changes | medium | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.