Fiem Industries Limited (FIEMIND)
₹1,919.10 +5.13% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Fiem Industries' revenue was ₹775 Cr (+17.7% year on year, +3.2% on the previous quarter), and net profit ₹64.9 Cr (+12.8% year on year); the operating margin was 13.4%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹775 | +17.7% | +3.2% |
| Operating profit | ₹104 | +16.1% | -5.6% |
| Net profit | ₹64.9 | +12.8% | -8.6% |
| EPS (₹) | 24.65 | +12.8% | -8.7% |
| Operating margin | 13.4% | — | — |
FIEMIND delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 43.67% of the FIEMIND shares traded on NSE were taken to delivery, against the stock's own 20-session average of 55.37%. The price rose 5.13% on unusually low delivery, so more of the move than usual was intraday trading.
Delivery in the last 5 sessions: 54.5% · 50.2% · 49.6% · 54.8% · 43.7%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Fiem Industries Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, for the quarter ended September 30, 2026. The certificate from RTA MUFG Intime India Private Limited confirms that security certificates received for dematerialisation were processed, confirmed or rejected, and cancelled within prescribed timelines. The report is a regular administrative compliance update with no financial or operational impact.
- Compliance certificate submitted under Regulation 74(5) of SEBI Regulations, 2018
- Covers the quarter ended September 30, 2026
- Issued by Registrar and Share Transfer Agent MUFG Intime India Private Limited on October 12, 2026
Fiem Industries released the transcript for its Q1 FY27 earnings call, reporting an 18.62% YoY revenue growth to ₹769.9 Cr and a 16.31% YoY increase in PAT to ₹65.19 Cr. EBITDA came in at ₹104.06 Cr (13.5% margin), with management retaining a full-year EBITDA margin guidance of ~14% as raw material cost increases are passed through with a lag. LED lighting contributed 63% of total automotive lighting sales, and the company deployed ₹41.15 Cr in capex during the quarter. Key growth drivers include ramping supplies to EV models (Ather, River, Royal Enfield, Hero Vida) and capacity expansion across Hosur plants.
- Q1 FY27 revenue rose 18.62% YoY to ₹769.9 Cr from ₹649.07 Cr in Q1 FY26
- Net profit (PAT) grew 16.31% YoY to ₹65.19 Cr with an EBITDA margin of 13.5%
- Incurred capex of ₹41.15 Cr in Q1 FY27 to expand Hosur facilities (Kelamangalam and Thally Road)
- LED lighting share stood at 63% of total automotive lighting value
- Management guided for ~14% full-year EBITDA margins despite Q1 RM and employee cost pressures
Fiem Industries (FIEM) demonstrated strong historical performance with a 5-year revenue CAGR of 18.24% and an EBITDA CAGR of 24.07% through FY26. The company is successfully transitioning its product mix, with LED lighting now accounting for 48.23% of automotive sales in Q1FY27. While profitability remains robust with a 28.02% ROCE in FY26, the company maintains a high concentration in the two-wheeler segment, which represents 97.7% of its automotive revenue. Management leadership has transitioned, with Mr. Rahul Jain elevated to Managing Director effective June 2026.
- Revenue grew from Rs 1,207.5 Cr in FY21 to Rs 2,790.6 Cr in FY26 (Standalone Net Sales).
- LED lighting share in the automotive product mix reached 48.23% in Q1FY27.
- Return on Capital Employed (ROCE) expanded significantly from 11.66% in FY21 to 28.02% in FY26.
- Dividend per share has grown five-fold from Rs 8 in FY21 to Rs 40 in FY26.
- Two-wheeler segment continues to dominate, contributing 97.7% of automotive sales in Q1FY27.
Fiem Industries reported a steady Q1 FY27 with standalone revenue from operations growing 17.8% YoY to ₹775.38 Cr, primarily driven by the automotive segment. Net profit increased by 16.3% YoY to ₹65.19 Cr, although it saw a sequential decline from ₹70.59 Cr in Q4 FY26. The company is currently processing insurance claims for two fire incidents, including a significant ₹82.30 Cr claim for its Tapukara unit. The automotive segment continues to dominate, contributing 99.8% of total revenue.
- Total Sales grew 18.62% YoY to ₹769.90 Cr compared to ₹649.07 Cr in the previous year's quarter
- Standalone Net Profit (PAT) increased 16.31% YoY to ₹65.19 Cr
- Automotive segment revenue reached ₹774.28 Cr, representing 99.8% of total operations
- Insurance claim of ₹82.30 Cr submitted for the Unit-8 Tapukara fire incident as of January 2026
- Employee benefit expenses rose significantly to ₹114.90 Cr from ₹88.35 Cr in Q1FY26
Fiem Industries has scheduled its Q1FY27 earnings conference call for August 13, 2026, at 4:00 PM IST. The management team, including the Executive Chairman and CFO, will discuss the company's operational and financial performance for the quarter. This follows a strong FY26 performance where the company achieved a TTM revenue of ‑2,815 crore and a PAT of ‑256 crore. Investors will likely seek updates on the LED lighting segment, which currently constitutes 63.92% of lighting sales, and the status of their 'heavy order book'.
- Earnings conference call scheduled for August 13, 2026, at 4:00 PM IST
- Management to discuss Q1FY27 financial results and business outlook
- Company reported TTM revenue of ‑2,815.30 crore as of the latest full-year data
- LED lighting currently accounts for 63.92% of the company's lighting sales
- Operating profit margin (OPM) stood at 14.1% for the TTM period
At the 37th AGM held on July 31, 2026, shareholders approved the re-designation and re-appointment of five key board members. Mr. Jagjeevan Kumar Jain has been appointed as Executive Chairman until August 2030, while Mr. Rahul Jain takes over as Managing Director until September 2030. The move formalizes leadership roles within the promoter family, which maintains a 54.52% stake in the company. These appointments ensure continuity for a business currently generating TTM revenue of ₹2,815 Cr with a strong 29% ROCE.
- Mr. Jagjeevan Kumar Jain appointed as Executive Chairman with a term ending August 6, 2030
- Mr. Rahul Jain re-designated as Managing Director with a term ending September 30, 2030
- Ms. Aanchal Jain and Mrs. Seema Jain re-appointed for 5-year terms effective April 1, 2027
- Mr. Kashi Ram Yadav re-appointed as Whole-time Director for 3 years effective October 25, 2026
- Promoter group continues to hold a majority 54.52% stake as of June 2026
Fiem Industries concluded its 37th Annual General Meeting on July 31, 2026, where shareholders considered 11 resolutions including a final dividend of ₹40 per share for FY26. Significant leadership re-designations were proposed, including Mr. J.K. Jain as Executive Chairman and Mr. Rahul Jain as Managing Director with revised remuneration. The company confirmed the adoption of FY26 financial results, which saw revenue grow to ₹2,815 Cr with a PAT of ₹256 Cr. Voting results are expected to be finalized within 48 hours, with no adverse qualifications reported by auditors.
- Proposed a final dividend of ₹40 per equity share for the financial year 2025-26
- Re-designated Mr. J.K. Jain as Executive Chairman and Mr. Rahul Jain as Managing Director
- Approved re-appointments for Ms. Aanchal Jain and Mrs. Seema Jain for 5-year terms
- Ratified the remuneration of Cost Auditors for the upcoming Financial Year 2026-27
- Confirmed FY26 performance with TTM revenue of ₹2,815 Cr and OPM of 14.1%
Fiem Industries Limited concluded its 37th Annual General Meeting on July 31, 2026, where shareholders considered the adoption of FY26 financial results and a final dividend of ₹40 per share. This dividend represents a payout of approximately 41% of the FY26 EPS of ₹97.14. The meeting also covered significant leadership re-designations, including appointing Mr. J.K. Jain as Executive Chairman and Mr. Rahul Jain as Managing Director. The company maintains a strong financial position with FY26 revenue of ₹2,815.30 Cr and a low debt-to-equity ratio of 0.05.
- Final dividend of ₹40 per equity share declared for the financial year 2025-26
- FY26 Revenue reported at ₹2,815.30 Cr, representing a 16.2% growth over FY25
- Mr. Rahul Jain re-designated as Managing Director with a revision in remuneration
- Mr. J.K. Jain re-designated as Executive Chairman (Key Managerial Personnel)
- Remote e-voting concluded on July 30, 2026, with final results expected within 48 hours
Fiem Industries has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by MUFG Intime India Private Limited, confirms that all securities received for dematerialization during the quarter ended June 30, 2026, were processed and listed on the stock exchanges. It also verifies that physical certificates were mutilated and cancelled as per regulatory requirements. This is a standard administrative filing with no impact on business operations or financials.
- Compliance certificate for the quarter ended June 30, 2026
- Confirmation of dematerialization processing within prescribed timelines
- Issued by Registrar and Share Transfer Agent MUFG Intime India Private Limited
- Filing submitted to exchanges on July 13, 2026
Fiem Industries has dispatched notices to shareholders who have not registered their email IDs, providing access to the Annual Report for FY 2025-26. The 37th Annual General Meeting (AGM) is scheduled for July 31, 2026, at 10:30 AM via video conferencing. The communication also serves as a mandatory reminder for shareholders holding physical securities to update KYC details and PAN to ensure uninterrupted receipt of dividends. This is a procedural filing in compliance with SEBI Regulation 36(1)(b).
- 37th Annual General Meeting scheduled for July 31, 2026, at 10:30 AM IST
- Annual Report for Financial Year 2025-26 released via web-link and QR code for non-registered shareholders
- Mandatory KYC update reminder issued as per SEBI circular dated February 6, 2026
- Physical security holders without updated PAN/KYC are restricted to electronic payments only since April 1, 2024
Fiem Industries has issued a notice for its 37th Annual General Meeting (AGM) scheduled for July 31, 2026. The board has recommended a final dividend of ₹40 per share for FY26, representing a payout of approximately 41% of the TTM EPS of ₹97.14. Key leadership changes are also proposed, including the re-designation of Mr. Rahul Jain as Managing Director with a revised monthly salary of ₹22 lakh and Mr. Jagjeevan Kumar Jain as Executive Chairman at ₹20 lakh per month. The record date for dividend eligibility is July 24, 2026.
- Final dividend of ₹40 per equity share (400% on face value of ₹10) recommended for FY 2025-26.
- Record date for dividend entitlement set for July 24, 2026, with payment by August 14, 2026.
- Proposed re-designation of Mr. Rahul Jain as Managing Director with a monthly salary of ₹22,00,000 effective April 1, 2026.
- Proposed re-designation of Mr. Jagjeevan Kumar Jain as Executive Chairman with a monthly salary of ₹20,00,000 effective June 1, 2026.
- Cost Auditor remuneration for FY 2026-27 proposed at ₹3.50 Lakh plus expenses.
Fiem Industries Limited has announced the unexpected demise of Mr. Rakesh Chand Jain, an Independent Director, which occurred on July 07, 2026. Mr. Jain (DIN: 10638945) was part of the board of this Rs 5,891 Cr market cap auto ancillary company. The company will now need to fill this vacancy to remain compliant with SEBI board composition regulations. This event is administrative in nature and does not impact the company's operational performance or its TTM revenue of Rs 2,815 Cr.
- Demise of Independent Director Mr. Rakesh Chand Jain occurred on July 07, 2026
- The vacancy affects the board of a company with a Market Cap of Rs 5,891 Cr
- Company reported TTM Revenue of Rs 2,815 Cr and TTM PAT of Rs 256 Cr
- Compliance with SEBI Regulation 30 and Schedule III is required for filling the vacancy
Fiem Industries Limited has informed the stock exchanges that its trading window for dealing in company securities will be closed starting July 1, 2026. This action is taken in compliance with SEBI (Prohibition of Insider Trading) Regulations for the quarter ending June 30, 2026. The window will remain closed for all designated persons and their immediate relatives until 48 hours after the financial results are declared. The specific date for the board meeting to approve these results will be announced at a later date.
- Trading window closure commences on Wednesday, July 1, 2026
- Closure is for the purpose of declaring financial results for the quarter ending June 30, 2026
- Restriction applies to Directors, Designated Persons, and their immediate relatives
- Window will reopen 48 hours after the official announcement of the financial results
Fiem Industries delivered its strongest financial performance to date in FY26, with annual revenue growing 16.04% to ₹2,790.65 crore and PAT rising 24.36% to ₹253.87 crore. The company achieved record EBITDA margins of 14.09% for the full year, driven by a shift toward high-value LED lighting which now accounts for 63% of lighting sales. Management announced a substantial final dividend of ₹40 per share (400%) and highlighted strategic wins in the EV segment with Hero MotoCorp and Honda, alongside expansion into the 4-wheeler market with Mahindra.
- FY26 Revenue reached ₹2,790.65 crore (up 16% YoY) with PAT at ₹253.87 crore (up 24% YoY).
- EBITDA margins expanded to a record 14.09% for the full year, with Q4 margins hitting 14.67%.
- Board recommended a final dividend of ₹40 per share, representing a 400% payout on face value.
- LED lighting share in automotive lighting increased to 63%, reflecting successful technology adoption.
- Planned capex of ₹200 crore over the next two years to support 4-wheeler and EV platform growth.
Fiem Industries reported a strong performance for FY26, with net sales reaching INR 27,906 million, representing an 18.24% 5-year CAGR. EBITDA has scaled to INR 3,933 million, growing at a faster 5-year CAGR of 24.07% compared to revenue. The company remains heavily dependent on the two-wheeler segment, which contributes 97.15% of its revenue, while LED lighting now accounts for 47.51% of the product mix. Additionally, the company announced a significant leadership transition with Mr. Rahul Jain being elevated to Managing Director effective June 1, 2026.
- Net Sales grew from INR 12,075 mn in FY21 to INR 27,906 mn in FY26 at an 18.24% CAGR.
- EBITDA increased to INR 3,933 mn in FY26, reflecting a robust 5-year CAGR of 24.07%.
- Automotive LED Lighting has become the largest product category, contributing 47.51% of revenue.
- Revenue remains highly concentrated in the 2-Wheeler segment (97.15%) and Domestic OEMs (93.17%).
- Management succession confirmed with Mr. Rahul Jain elevated to MD and Mr. J.K. Jain re-designated as Executive Chairman.
Financial Performance
Revenue Growth by Segment
The Automotive Segment revenue grew 15.47% YoY in H1 FY26, reaching INR 1,370.58 Cr compared to INR 1,186.98 Cr in H1 FY25. The Others Segment grew 22.52% YoY to INR 2.54 Cr from INR 2.07 Cr. Total standalone sales for Q2 FY26 grew 17.12% YoY to INR 711.42 Cr.
Geographic Revenue Split
Not disclosed in available documents; however, operations are primarily centered in India with registered offices in New Delhi and manufacturing units in Hosur and Gurugram.
Profitability Margins
Standalone Profit After Tax (PAT) for H1 FY26 was INR 121.44 Cr. Net profit margins are supported by a shift toward LED products, which now constitute 63.92% of total lighting sales, up from previous periods.
EBITDA Margin
EBITDA margin for Q2 FY26 improved to 13.93% (INR 99.1 Cr) from 13.21% (INR 80.27 Cr) in Q2 FY25, representing a 72 bps YoY increase driven by operating leverage and a favorable product mix.
Capital Expenditure
Total Capital Employed in the Automotive Segment stood at INR 831.53 Cr as of September 30, 2025. Standalone Capital Work-in-Progress was INR 9.32 Cr, down from INR 20.27 Cr in March 2025, indicating recent commissioning of assets.
Credit Rating & Borrowing
Finance costs for H1 FY26 were INR 0.74 Cr, a slight decrease from INR 0.77 Cr YoY. The low finance cost relative to a revenue of INR 1,367.92 Cr suggests a very low debt-to-equity ratio and efficient borrowing costs.
Operational Drivers
Raw Materials
Specific raw materials include electronic components for LED lighting and plastic resins for automotive parts; these are critical as LED lighting now represents 63.92% of the lighting segment's revenue.
Capacity Expansion
The company is currently operating with a 'heavy order book.' While specific unit capacity is not listed, Property, Plant, and Equipment (PPE) is valued at INR 502.65 Cr as of September 30, 2025.
Raw Material Costs
Raw material costs are a primary driver of the 13.93% EBITDA margin; management noted that margins are highly sensitive to the product mix between conventional and LED lighting.
Manufacturing Efficiency
Operating leverage is 'kicking in' due to increased sales volumes, which improved EBITDA margins by 72 bps YoY in Q2 FY26.
Strategic Growth
Expected Growth Rate
15-18%
Growth Strategy
Growth is driven by increasing the share of high-margin LED lighting (currently 63.92% of lighting sales), leveraging a heavy order book, and improving operational efficiency through higher capacity utilization and operating leverage.
Products & Services
Automotive lighting (Headlamps, Tail lamps, Signaling lamps), Rear-view mirrors, and Plastic molded parts.
Brand Portfolio
FIEM
New Products/Services
Continued transition and expansion in the LED lighting portfolio for automotive OEMs, which is expected to continue contributing to the 17.12% sales growth rate.
Market Expansion
Management is currently in a business planning process to be finalized by the end of the financial year to define future market expansion and technology roadmaps.
Strategic Alliances
The company has joint ventures, though specific partner names for current active JVs were not detailed in the provided snippets; an investment in a JV company was written off previously (INR 0.33 Cr).
External Factors
Industry Trends
The industry is shifting rapidly toward LED lighting and high-end electronics in vehicles. FIEM is positioned as a leader with 63.92% of its lighting revenue already converted to LED.
Competitive Landscape
Competes with other Tier-1 automotive component manufacturers in the lighting and mirror segments.
Competitive Moat
Moat is built on long-standing OEM relationships and technological expertise in LED lighting. This is sustainable due to high switching costs for OEMs and the technical precision required for automotive lighting standards.
Macro Economic Sensitivity
Highly sensitive to the Indian automotive industry's growth cycles and consumer discretionary spending on vehicles.
Consumer Behavior
Increasing consumer preference for premium vehicle aesthetics (LED DRLs, stylish tail lamps) is driving demand for FIEM's high-end lighting products.
Geopolitical Risks
Potential trade barriers on electronic component imports could impact the LED lighting segment, which is the company's primary growth driver.
Regulatory & Governance
Industry Regulations
Subject to stringent automotive safety standards and AIS (Automotive Industry Standards) for lighting and mirrors.
Taxation Policy Impact
The effective tax rate is approximately 25.3%, with a tax provision of INR 41.17 Cr against a standalone PBT of INR 162.60 Cr in H1 FY26.
Legal Contingencies
The company has a pending insurance claim related to a fire incident that occurred on January 25, 2018, at Unit-5, Hosur.
Risk Analysis
Key Uncertainties
Dependence on the automotive sector's cyclicality could impact revenue by 10-15% during economic downturns.
Geographic Concentration Risk
Concentrated in India, particularly in the northern and southern automotive hubs.
Third Party Dependencies
High dependency on automotive OEMs for order flow and electronic component suppliers for LED production.
Technology Obsolescence Risk
Risk of conventional lighting becoming obsolete; however, the company is mitigating this by transitioning to LED (63.92% share).
Credit & Counterparty Risk
Trade receivables stood at INR 330.91 Cr as of September 30, 2025. The company made a provision for bad and doubtful debts of INR 3.00 Cr in H1 FY26.
