Fiem is one of the leading manufacturers of automotive lighting & signalling equipment's and rear view mirrors in India. Its major business comes from the two-wheeler segment of the automotive industry.
The company has a diversified product portfolio ranging from head lamps, tail lamps, signalling lamps, roof lamps, rear view mirrors, wheel covers, warning triangles, complete rear fender assembly, frame assembly, mudguards, various automobile sheet metal and plastic parts, Canister and Bank (Lean) Angle Sensor.
Among two wheelers, the company’s top clients include Honda, TVS, Yamaha, Suzuki, Eicher Royal Enfield, Harley Davidson, Mahindra etc and in four wheelers it includes Tata Marcopolo, Force Motors, Honda Siel, Hyundai, Daimler, Mahindra Reva etc.
For the financial year 2021-22 (FY22), Fiem Industries consolidated profit after tax more-than-doubled to Rs 95.3 crore as against Rs 46.9 crore in FY21. Total income grew 29 per cent year on year (YoY) to Rs 1,575 from Rs 1,224 crore in last fiscal. Ebitda margin expanded 129 bps to 12.48 per cent from 11.19 per cent.
The management expects the momentum to continue in FY23, driven by the new products and geographies like Japan, Europe, and Thailand. The two-wheeler electric vehicle (EV) segment saw a 464 per cent YoY increase in the volume during FY22. While this is on small base, the trend points towards healthy increase in this segment. Overall, the management believes that the worst is behind the two-wheeler industry and expect the industry to get back on its growth path.
According to analysts now things have changed for the better for automobile sector as supply chain issues remain largely resolved with management commentary suggesting improving chip availability and commodity prices mainly metals have corrected substantially amid resurfacing global growth concerns, Covid led clampdown in China, high inflation and consequent global centrals bank efforts to tame the same via interest rate hikes.
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