BSE: 532768 | NSE: FIEMIND | Auto Ancillary | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Fiem Industries Ltd is a good quality company.
The key valuation ratios of Fiem Industries Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Fiem Industries Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 23% | 26% | 13.3% | 16.8% | 17.1% | 16.4% | 12.2% | 21.2% | 27.4% | 27.5% | - |
| Value Creation Index ⓘ | 0.6 | 0.9 | -0.1 | 0.2 | 0.2 | 0.2 | -0.1 | 0.5 | 1.0 | 1.0 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 825 | 987 | 1,014 | 1,238 | 1,444 | 1,378 | 1,221 | 1,572 | 1,848 | 2,028 | 2,219 |
| Sales YoY Gr. | - | 19.7% | 2.8% | 22.1% | 16.6% | -4.6% | -11.4% | 28.8% | 17.5% | 9.7% | - |
| Adj EPS ⓘ | 17.7 | 23.9 | 16.2 | 19.1 | 21.1 | 30.3 | 18.7 | 36.2 | 53 | 63 | 70.9 |
| YoY Gr. | - | 34.9% | -32% | 17.4% | 10.4% | 44.1% | -38.2% | 93.1% | 46.5% | 18.8% | - |
| BVPS (₹) ⓘ | 89.2 | 108.3 | 155.7 | 170.6 | 181.1 | 201 | 217.9 | 246 | 288.6 | 336.4 | 353.5 |
| Adj Net Profit ⓘ | 42.4 | 57.1 | 42.8 | 50.2 | 55.4 | 79.8 | 49.3 | 95.3 | 140 | 166 | 187 |
| Cash Flow from Ops. ⓘ | 82.1 | 122 | 46 | 124 | 119 | 209 | 136 | 92.6 | 131 | 135 | - |
| Debt/CF from Ops. ⓘ | 1.4 | 1.2 | 4.9 | 1.3 | 1.4 | 0.5 | 0.4 | 0.2 | 0 | 0 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 10.5% | 7% | 18.4% | 9.7% | ||||
| Adj EPS ⓘ | 15.1% | 24.5% | 49.8% | 18.8% | ||||
| BVPSⓘ | 15.9% | 13.2% | 15.6% | 16.6% | ||||
| Share Price | 14.2% | 48.7% | 36.1% | 43.2% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 20 | 22.8 | 12.5 | 11.7 | 12 | 15.9 | 9 | 15.6 | 19.8 | 20.2 | 20.5 |
| Op. Profit Mgn % ⓘ | 12.4 | 12.9 | 11.6 | 11.4 | 10.7 | 11.4 | 11 | 12.3 | 13.4 | 13.2 | 13.5 |
| Net Profit Mgn % ⓘ | 5.1 | 5.8 | 4.2 | 4.1 | 3.8 | 5.8 | 4 | 6.1 | 7.6 | 8.2 | 8.4 |
| Debt to Equity ⓘ | 0.6 | 0.5 | 0.6 | 0.4 | 0.4 | 0.2 | 0.1 | 0 | 0 | 0 | 0 |
| Working Cap Days ⓘ | 60 | 64 | 81 | 90 | 90 | 82 | 74 | 73 | 75 | 78 | 56 |
| Cash Conv. Cycle ⓘ | 10 | 4 | 5 | 12 | 16 | 14 | 3 | 8 | 18 | 28 | 32 |
Return on Equity has increased versus last 3 years average to 20.50%
Sales growth is growing at healthy rate in last 3 years 18.43%
Net Profit is growing at healthy rate in last 3 years 49.78%
Sales growth is good in last 4 quarters at 20.11%
No data to display
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 70.9 | 70.6 |
| TTM Sales (₹ Cr.) | 2,219 | 2,219 |
| BVPS (₹.) ⓘ | 353.5 | 354.2 |
| Reserves (₹ Cr.) ⓘ | 904 | 906 |
| P/BV ⓘ | 4.21 | 4.21 |
| PE ⓘ | 21.02 | 21.10 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 922.92 / 1782.10 |
| All Time Low / High (₹) | 19.62 / 1782.10 |
| Market Cap (₹ Cr.) | 3,920 |
| Equity (₹ Cr.) | 26.3 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 51.1 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 825 | 987 | 1,014 | 1,238 | 1,444 | 1,378 | 1,221 | 1,572 | 1,848 | 2,028 |
| Operating Expenses ⓘ | 722 | 860 | 897 | 1,098 | 1,289 | 1,221 | 1,087 | 1,379 | 1,600 | 1,760 |
| Manufacturing Costs | 84 | 105 | 113 | 128 | 131 | 125 | 105 | 127 | 136 | 158 |
| Material Costs | 498 | 573 | 587 | 737 | 898 | 840 | 754 | 986 | 1,131 | 1,242 |
| Employee Cost | 98 | 127 | 146 | 177 | 196 | 196 | 164 | 205 | 236 | 284 |
| Other Costs ⓘ | 42 | 56 | 51 | 56 | 64 | 60 | 64 | 61 | 96 | 76 |
| Operating Profit ⓘ | 102 | 127 | 117 | 141 | 155 | 157 | 134 | 193 | 248 | 268 |
| Operating Profit Margin (%) | 12.4% | 12.9% | 11.6% | 11.4% | 10.7% | 11.4% | 11.0% | 12.3% | 13.4% | 13.2% |
| Other Income ⓘ | 1 | 1 | 5 | 5 | 1 | 2 | 3 | 3 | 11 | 16 |
| Interest ⓘ | 12 | 16 | 23 | 23 | 22 | 18 | 12 | 9 | 7 | 3 |
| Depreciation ⓘ | 31 | 33 | 39 | 44 | 49 | 53 | 57 | 59 | 63 | 58 |
| Exceptional Items ⓘ | 0 | 0 | -14 | 3 | 0 | -1 | -3 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 61 | 79 | 45 | 82 | 85 | 87 | 65 | 129 | 188 | 223 |
| Tax ⓘ | 18 | 22 | 13 | 29 | 30 | 8 | 18 | 34 | 49 | 57 |
| Profit After Tax | 42 | 57 | 33 | 53 | 55 | 79 | 47 | 95 | 140 | 166 |
| PAT Margin (%) | 5.1% | 5.8% | 3.2% | 4.2% | 3.8% | 5.7% | 3.9% | 6.1% | 7.6% | 8.2% |
| Adjusted EPS (₹) | 17.7 | 23.9 | 12.5 | 20.0 | 21.1 | 30.0 | 17.9 | 36.2 | 53.1 | 63.0 |
| Dividend Payout Ratio (%) | 20% | 17% | 32% | 23% | 28% | 22% | 45% | 28% | 28% | 32% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 227 | 273 | 410 | 449 | 477 | 529 | 573 | 647 | 759 | 885 |
| Share Capital ⓘ | 12 | 12 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 26 |
| Reserves ⓘ | 215 | 261 | 397 | 436 | 463 | 516 | 560 | 634 | 746 | 859 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 86 | 109 | 184 | 124 | 131 | 58 | 22 | 8 | 0 | 0 |
| Long Term Debt | 51 | 91 | 119 | 87 | 93 | 58 | 22 | 8 | 0 | 0 |
| Short Term Debt | 34 | 18 | 64 | 37 | 38 | 0 | 0 | 0 | 0 | 0 |
| Trade Payables | 88 | 151 | 151 | 220 | 189 | 167 | 172 | 261 | 165 | 189 |
| Others Liabilities ⓘ | 100 | 126 | 125 | 143 | 165 | 169 | 158 | 138 | 125 | 139 |
| Total Liabilities ⓘ | 501 | 658 | 869 | 935 | 962 | 923 | 926 | 1,054 | 1,050 | 1,214 |
Fixed Assets | ||||||||||
| Gross Block | 480 | 593 | 695 | 804 | 861 | 938 | 949 | 962 | 994 | 1,004 |
| Accumulated Depreciation | 145 | 178 | 215 | 250 | 297 | 348 | 403 | 455 | 502 | 509 |
| Net Fixed Assetsⓘ | 334 | 416 | 479 | 554 | 564 | 590 | 546 | 507 | 493 | 495 |
| CWIP ⓘ | 5 | 12 | 6 | 7 | 11 | 0 | 3 | 1 | 5 | 5 |
| Investmentsⓘ | 0 | 1 | 87 | 20 | 28 | 29 | 29 | 86 | 5 | 5 |
| Inventories | 51 | 66 | 102 | 140 | 147 | 129 | 117 | 185 | 176 | 204 |
| Trade Receivables | 87 | 119 | 119 | 144 | 146 | 77 | 81 | 175 | 141 | 194 |
| Cash Equivalents | 3 | 4 | 23 | 2 | 1 | 46 | 109 | 67 | 180 | 204 |
| Others Assetsⓘ | 21 | 42 | 54 | 69 | 63 | 53 | 41 | 34 | 51 | 107 |
| Total Assets ⓘ | 501 | 658 | 869 | 935 | 962 | 923 | 926 | 1,054 | 1,050 | 1,214 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 82 | 122 | 46 | 124 | 119 | 209 | 136 | 93 | 131 | 135 |
| PBT ⓘ | 61 | 79 | 45 | 82 | 85 | 87 | 65 | 129 | 188 | 223 |
| Adjustment ⓘ | 43 | 49 | 73 | 60 | 71 | 70 | 79 | 68 | 79 | 37 |
| Changes in Working Capital ⓘ | -7 | 13 | -57 | -1 | -17 | 70 | 9 | -69 | -74 | -67 |
| Tax Paid ⓘ | -14 | -19 | -15 | -16 | -19 | -19 | -18 | -36 | -62 | -58 |
| Cash Flow From Investing Activity ⓘ | -59 | -108 | -198 | -45 | -81 | -47 | -15 | -74 | 37 | -68 |
| Capex | -59 | -109 | -116 | -115 | -74 | -46 | -20 | -19 | -54 | -83 |
| Net Investments | 0 | 0 | -86 | 67 | -8 | -2 | 0 | -57 | 83 | 0 |
| Others ⓘ | 0 | 1 | 4 | 4 | 1 | 1 | 4 | 2 | 9 | 15 |
| Cash Flow From Financing Activityⓘ | -22 | -13 | 173 | -102 | -38 | -118 | -57 | -61 | -55 | -43 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 117 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | -6 | 39 | 39 | -39 | 10 | -38 | -41 | -30 | -20 | 0 |
| Interest Paid ⓘ | -13 | -18 | -25 | -23 | -22 | -17 | -10 | -7 | -6 | -2 |
| Dividend Paid ⓘ | -7 | -14 | -4 | -11 | -22 | -18 | -4 | -21 | -26 | -39 |
| Others ⓘ | 4 | -19 | 45 | -29 | -3 | -44 | -2 | -2 | -2 | -2 |
| Net Cash Flow ⓘ | 2 | 0 | 22 | -22 | 0 | 44 | 63 | -42 | 113 | 24 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 21.3 | 24.19 | 9.81 | 12.24 | 11.99 | 15.7 | 8.55 | 15.6 | 19.85 | 20.16 |
| ROCE (%) | 22.97 | 26.01 | 13.27 | 16.78 | 17.07 | 16.39 | 12.22 | 21.17 | 27.38 | 27.46 |
| Asset Turnover Ratio | 1.89 | 1.88 | 1.48 | 1.41 | 1.52 | 1.46 | 1.33 | 1.6 | 1.76 | 1.8 |
| PAT to CFO Conversion(x) | 1.95 | 2.14 | 1.39 | 2.34 | 2.16 | 2.65 | 2.89 | 0.98 | 0.94 | 0.81 | Working Capital Days |
| Receivable Days | 33 | 34 | 38 | 38 | 37 | 30 | 23 | 30 | 31 | 30 |
| Inventory Days | 19 | 20 | 27 | 35 | 36 | 37 | 37 | 35 | 35 | 34 |
| Payable Days | 61 | 76 | 94 | 92 | 83 | 77 | 82 | 80 | 69 | 52 |
The company was originally incorporated in India as Rahul Auto Private Limited on February 6, 1989 in New Delhi under the Companies Act, 1956. The company is promoted by J.K. Jain, its Chairman and Managing Director. The Company is one of the leading manufacturers of automotive lighting & signaling equipments and rear view mirrors.
They set up their unit at HSIDC Industrial Estate, Kundli, Sonepat (Haryana) for carrying on the business of manufacturing rear view mirrors for two, three and four wheelers. They changed the name of their company to FIEM Industries Private Limited w.e.f. May 7, 1992. Subsequently, the company was converted into a public company with effect from November 30, 1993 pursuant to which, the name of their company was changed to FIEM Industries Limited. During the year 1993-94, they added additional facilities for manufacturing of automotive lighting and signaling equipments such as head lamp, tail lamp, side indicator, reflex Reflector, fog lamp, etc. With a view to expand their business, they shifted all their manufacturing during the year 1993-94 to the plant situated at 32 Mile Stone, G.T. Road, Kundli, Sonepat, (Haryana) (Unit 1) having full fledged testing laboratory for manufacturing automotive lamps & rear view mirrors conforming to International Standards viz, JIS, ADR, DOT, ECE, SAE and Indian Standards viz., AIS and BIS in the year 1996, the company set-up a Joint Venture Company under the name and style of FIEM Sung San (India) Limited in association with Sung San Co. Limited, Korea and Daewoo Motors India Limited. Subsequently, FIEM Sung San ( India ) Limited became our subsidiary w.e.f September 30, 2005 pursuant to the acquisition of 32,50,000 Equity Shares of Rs.10 each.
They further expanded their capacities with the setting-up of their Unit II in the year 2003-04 at Tamil Nadu for manufacturing head lamps, tail lamps, / rear combination lamps, side indicator lamps, reflex reflectors and rear view mirrors. They set up their Unit III in the year 2004-05 at Kelamanglam, Tamil Nadu for manufacturing sheet metal items viz., frame, mudguards, stands, guard exhaust pipe. In the same year they set up Unit IV at Mysore Taluk, Karnataka for manufacturing value added products such as assembly of rear fender for two wheelers. They are presently conducting trail runs at their Export Unit (Unit V) at Kelamangalam, Tamil, Nadu for manufacturing mirror plates, mirror assembly, head lamps, tail lamps, and side indicators.They are also in the process of setting up of Unit VI at Nalagarh, Himachal Pradesh which shall engage in the manufacture of head lamps, tail lamps, side indicator lamps, rear fender, reflex reflectors and rear view mirrors primarily for the four wheeler segment.
The company is supplying its products to almost all major OEMs in the domestic market as well as few global OEMs. Besides some global Tier I automotive lamp manufacturers.The list includes, Punjab Tractors Ltd, Hyundai Motors India Ltd, Tata Motors Ltd, Inter-national Tractors Ltd, SwarajMazda Ltd, Ashok Leyland Ltd, Force Motors Ltd etc.
Products of the company include:
Awards & Achievements:
Recent developments
Fiem Industries has inked an Memorandum of Understanding (MoU) with Japan based Ichikoh Industries in May 2009. Ichikoh Industries is one of the world's renowned manufacturers in the field of automotive lighting and rear view mirrors. As per the MoU, Ichikoh would have equity participation in Fiem and extend technical assistance for development and manufacturing of automotive lightings and rear view mirrors for various car manufacturers in India.
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