India's leading manufacturer of automotive lighting, signalling equipment and rear-view mirrors for 2W/4W OEMs.
Reported
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 775 | +17.6% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 13.0 | −1.0 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 65.0 | +12.1% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
| Return on equity | 23.35 | +1.9 pts | Trailing twelve months | TTM to Jun 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | 1.14 | −4.3 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | 17.10 | −3.2 pts | Trailing twelve months | TTM to Jun 2026 | Revenue change against the same period one year earlier. |
Guidance
2 of 5 judged targets kept · 11 open · verdicts reflect calls analysed to Q1 FY27.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| 4-Wheeler Business Plan | Present crystallized numbers/business plan 'after a year'. | Q3 FY25 | Promise to disclose crystallized numbers was fulfilled in Q4 FY26. No new updates. | Achieved |
| Gogoro Partnership | Technology transfer to happen in the next couple of quarters. | Q3 FY25 | The Gogoro partnership was not mentioned. | Ghosted |
| EBITDA Margin | Maintain a band of 13-13.5% over the next couple of years. | Q3 FY25 | Q1 margin was 13.5%, below the revised 14%+ target. Management acknowledged the dip due to costs but reiterated a full-year guidance of 'around 14%'. | At Risk |
3 of Fiem Industries Limited's 16 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 13 more targets are in the full ledger.
Claimed
Qualified
Price
1Y: ₹2,016.6 on 24 Oct 2025 → ₹1,699.9. High ₹2,645.9 (12 Aug 2026), low ₹1,671.5 (26 Oct 2026).
Overview
Based on the company's own presentations, annual report and earnings calls.
Fiem Industries designs and manufactures automotive lighting and signalling equipment (head lamps, tail lamps, blinker and fog lamps), rear-view mirrors, plastic moulded parts and sheet-metal/fabrication components, supplying two-wheeler and four-wheeler OEMs in India and abroad. It counts TVS, Honda, Yamaha, Suzuki, Royal Enfield, Hero MotoCorp, Tata Motors and Mahindra & Mahindra among its customers, and has recently begun supplying passenger-vehicle programs for Mahindra and export orders for Mercedes-Benz. Beyond automotive components, it makes LED luminaires and Integrated Passenger Information Systems (IPIS) with LED displays for railways and buses. The company runs backward-integrated, in-house R&D, design and testing facilities in India, Italy and Japan.
Segments
close before → close after
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Guidance
2 of 5 judged targets kept · 11 open · verdicts reflect calls analysed to Q1 FY27.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| 4-Wheeler Business Plan | Present crystallized numbers/business plan 'after a year'. | Q3 FY25 | Promise to disclose crystallized numbers was fulfilled in Q4 FY26. No new updates. | Achieved |
| Gogoro Partnership | Technology transfer to happen in the next couple of quarters. | Q3 FY25 | The Gogoro partnership was not mentioned. | Ghosted |
| EBITDA Margin | Maintain a band of 13-13.5% over the next couple of years. | Q3 FY25 | Q1 margin was 13.5%, below the revised 14%+ target. Management acknowledged the dip due to costs but reiterated a full-year guidance of 'around 14%'. | At Risk |
Claimed
Qualified
The full ledger
A free account opens 5 company ledgers a month. All 16 tracked commitments, with each call’s wording and source.
Call summaries
Fiem Industries Limited Q1 FY27
Fiem Industries Limited reported a strong Q1 FY27 with robust revenue growth of 18.62% and stable EBITDA margins at 13.5%. The company saw significant traction in the EV 2-wheeler segment, with its volume share increasing to over 9%. While new EV model supplies commenced, the 4-wheeler business scale-up is experiencing delays, pushing its meaningful contribution to FY28.
Read the full callFiem Industries Q4 FY26
Fiem Industries reported a strong Q4 and full year FY26, with revenue growing 16.04% and PAT increasing 24.36% for the full year, driven by robust performance in the 2-wheeler segment and expanding 4-wheeler business. The company achieved record margins, continued its transition to green energy, and made strategic leadership appointments. While facing macro challenges, Fiem is confident in its growth trajectory, supported by a strong order book and technological advancements in LED lighting and new product development.
Read the full callFiem Industries Q3 FY26
Fiem Industries reported a strong Q3 FY26, driven by robust 2-wheeler industry recovery and enhanced operational efficiencies, leading to record EBITDA margins. The company is actively investing in advanced lighting technologies, expanding its 4-wheeler business, and implementing green energy initiatives, while maintaining a positive outlook for future growth and profitability.
Read the full callEvery analysed call
Fundamentals
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
Net profit, year on year: +12% (quarter to jun 2026 against jun 2025).
| Line item | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 612 | 593 | 639 | 659 | 715 | 690 | 751 | 775 |
| Expenses | 532 | 516 | 554 | 569 | 616 | 592 | 642 | 672 |
| Operating profit | 81 | 78 | 85 | 89 | 99 | 98 | 110 | 104 |
| Operating margin | 13.0% | 13.0% | 13.0% | 14.0% | 14.0% | 14.0% | 15.0% | 13.0% |
| Other income | 4 | 4 | 9 | 6 | 6 | 5 | 4 | 5 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 1 |
| Depreciation | 16 | 16 | 17 | 17 | 19 | 18 | 18 | 19 |
| Profit before tax | 68 | 65 | 77 | 78 | 85 | 84 | 95 | 88 |
| Tax rate | 26.0% | 27.0% | 24.0% | 26.0% | 25.0% | 25.0% | 25.0% | 26.0% |
| Net profit | 50 | 47 | 59 | 58 | 64 | 63 | 71 | 65 |
| EPS (₹ per share) | 19.06 | 17.86 | 22.36 | 21.85 | 24.19 | 24.08 | 26.99 | 24.65 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 1,848 | 2,029 | 2,422 | 2,815 |
| Expenses | 1,599 | 1,760 | 2,101 | 2,419 |
| Operating profit | 248 | 269 | 323 | 396 |
| Other income | 11 | 17 | 20 | 21 |
| Interest | 8 | 2 | 0 | 2 |
| Depreciation | 64 | 58 | 64 | 72 |
| Profit before tax | 189 | 223 | 276 | 342 |
| Net profit | 140 | 165 | 205 | 256 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 13 | 13 | 26 | 26 | 26 | 26 |
| Reserves | 629 | 748 | 861 | 1,012 | 1,054 | 1,189 |
| Borrowings | 46 | 24 | 23 | 22 | 62 | 66 |
| Other liabilities | 361 | 268 | 308 | 363 | 425 | 420 |
| Total liabilities | 1,049 | 1,053 | 1,218 | 1,424 | 1,567 | 1,701 |
| Fixed assets | 508 | 494 | 496 | 553 | 573 | 604 |
| Capital work in progress | 1 | 5 | 5 | 20 | 9 | 15 |
| Investments | 77 | 0 | 0 | 0 | 0 | 0 |
| Other assets | 463 | 554 | 717 | 850 | 985 | 1,082 |
| Total assets | 1,049 | 1,053 | 1,218 | 1,424 | 1,567 | 1,701 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | 136 | 92 | 131 | 135 | 233 | 161 |
| Cash from investing | -15 | -74 | 39 | -69 | -86 | -96 |
| Cash from financing | -57 | -61 | -55 | -43 | -55 | -84 |
| Net cash flow | 63 | -42 | 115 | 23 | 92 | -19 |
| Free cash flow | 116 | 73 | 76 | 51 | 132 | 33 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 24 | 41 | 28 | 35 | 37 | 50 |
| Inventory days | 57 | 68 | 57 | 60 | 57 | 57 |
| Days payable | 83 | 97 | 53 | 56 | 56 | 61 |
| Cash conversion cycle | -3 | 12 | 31 | 39 | 37 | 46 |
| Working capital days | -15 | 9 | 23 | 37 | 29 | 47 |
| Return on capital employed | 12.0% | 21.0% | 27.0% | 27.0% | 28.0% | 29.0% |
| Dividend payout | 45.0% | 28.0% | 28.0% | 32.0% | 39.0% | 41.0% |
The businesses behind the company’s reported revenue.
Automotive Segment contributes 99.9% of reported segment revenue.
Quarter ended 30 Jun 2026 · Consolidated
₹774.29 crore
₹1.10 crore
| Business segment | Revenue · ₹ crore | Share |
|---|---|---|
| Automotive Segment | 774.29 | 99.9% |
| Others Segment | 1.10 | 0.1% |
Share = segment revenue ÷ total segment revenue, before intersegment adjustments.
Intersegment transactions are between the company’s own businesses. Net segment revenue can differ from income-statement revenue because reporting definitions differ.
Source: FinEdge · Last checked 19 Sept 2026. Reported segment names are kept as supplied.
Each segment’s share of reported revenue, quarter by quarter.
| Segment | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Dec 2025 | Mar 2026 | Jun 2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Automotive Segment | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | +17.8% |
| Others Segment | <1% | <1% | <1% | <1% | <1% | <1% | <1% | <1% | -39.3% |
Share of reported segment revenue by quarter, consolidated basis, as filed. A quarter the company did not report is left blank, never carried forward.
See how segments are shifting across companies → Segment Shift
To justify its price of ₹1700, this stock must grow earnings at 9% every year for 7 years. Our analysis caps realistic growth at ~22%. At that growth it is worth ₹3315 — upside of 95%.
Ownership
Promoters hold 54.51% as of Sept 2026; institutions cut 0.93 pts since Jun 2026.
since Jun 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.
Named in the Sep 2026 filing
Every holder of Fiem Industries Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 20.56% | unchanged | |
| 19.08% | unchanged | |
| Mutual fund | 9.85% | +1.13 pp |
| 7.07% | unchanged | |
| 7.07% | unchanged | |
| 0.64% | unchanged | |
| 0.09% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Filings to Sep 2026
0 new, 0 added, 0 trimmed, 0 sold out — net +0.00 L shares (+0.0%).
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| HDFC Small Cap Fund HDFC Mutual Fund | ₹424 Cr | held | Aug '24 |
| HDFC Children's Fund HDFC Mutual Fund | ₹39 Cr | held | Aug '26 |
| HDFC Transportation and Logistics Fund HDFC Mutual Fund | ₹23 Cr | held | Aug '24 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Sep 2026
0 added, 0 trimmed — net 0 shares (+0.0%)
Shares held by these funds +442%
Aug '24 25.91 L shares Sep '26
Your own record
Free account: one company. Everything above stays public.
Write why you follow Fiem Industries Limited and the condition you want checked. Inve compares your numeric conditions with available results and management guidance; your own conditions remain yours to review.
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