On consolidated basis
Quarter ended September 2024 compared with Quarter ended September 2023.
Net sales (including other operating income) of Fiem Industries has increased 20.22% to Rs 612.4 crore. Sales of Automotive segment has gone up 20.36% to Rs 611.48 crore (accounting for 99.85% of total sales). Sales of Others segment has gone down 31.80% to Rs 0.91 crore (accounting for 0.15% of total sales). Profit before interest, tax and other unallocable items (PBIT) has jumped 18.65% to Rs 74.15 crore. PBIT of Automotive segment rose 18.74% to Rs 74.31 crore (accounting for 100.22% of total PBIT). PBIT of Others segment fell 83.18% to Rs -0.16 crore (accounting for -0.22% of total PBIT). PBIT margin of Automotive segment fell from 12.32% to 12.15%. PBIT margin of Others segment fell from negative 6.69% to negative 17.96%. Overall PBIT margin fell from 12.27% to 12.11%. Operating profit margin has declined from 13.36% to 13.18%, leading to 18.63% rise in operating profit to Rs 80.73 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 60.91% to 62.09%. Purchase of finished goods cost fell from 0.44% to 0.22%. Employee cost decreased from 14.39% to 14.03%. Other expenses fell from 10.95% to 10.44%. Other income fell 9.55% to Rs 3.6 crore. PBIDT rose 17.08% to Rs 84.33 crore. Provision for interest fell 4.88% to Rs 0.39 crore. Loan funds declined from Rs 23.49 crore as of 30 September 2023 to Rs 22.63 crore as of 30 September 2024. Inventories rose to Rs 230.99 crore as of 30 September 2024 from Rs 207.78 crore as of 30 September 2023. Sundry debtors were higher at Rs 247.34 crore as of 30 September 2024 compared to Rs 150.55 crore as of 30 September 2023. Cash and bank balance rose to Rs 217.61 crore as of 30 September 2024 from Rs 195.52 crore as of 30 September 2023. Investments declined from Rs 0.25 crore as of 30 September 2023 to Rs 0.08 crore as of 30 September 2024. PBDT rose 17.20% to Rs 83.94 crore. Provision for depreciation rose 18.78% to Rs 15.94 crore. Fixed assets increased to Rs 539.56 crore as of 30 September 2024 from Rs 494.79 crore as of 30 September 2023. Intangible assets increased from Rs 2.01 crore to Rs 2.30 crore. Profit before tax grew 16.84% to Rs 68.00 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 17.82 crore, compared to Rs 14.72 crore. Effective tax rate was 26.21% compared to 25.29%. Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 15.39% to Rs 50.17 crore. Equity capital increased from Rs 13.16 crore as of 30 September 2023 to Rs 26.32 crore as of 30 September 2024. Per share face Value remained same at Rs 10.00. Promoters’ stake was 58.96% as of 30 September 2024 ,compared to 66.56% as of 30 September 2023 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Fiem Industries has increased 20.95% to Rs 1190.09 crore. Sales of Automotive segment has gone up 21.00% to Rs 1,187.02 crore (accounting for 99.74% of total sales). Sales of Others segment has gone up 4.15% to Rs 3.07 crore (accounting for 0.26% of total sales). Profit before interest, tax and other unallocable items (PBIT) has jumped 28.14% to Rs 146.51 crore. PBIT of Automotive segment rose 28.14% to Rs 146.71 crore (accounting for 100.14% of total PBIT). PBIT of Others segment fell 30.98% to Rs -0.20 crore (accounting for -0.14% of total PBIT). PBIT margin of Automotive segment rose from 11.67% to 12.36%. PBIT margin of Others segment fell from negative 5.24% to negative 6.59%. Overall PBIT margin rose from 11.62% to 12.31%. Operating profit margin has jumped from 13.10% to 13.38%, leading to 23.58% rise in operating profit to Rs 159.27 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 61.36% to 61.87%. Purchase of finished goods cost fell from 0.33% to 0.26%. Employee cost decreased from 14.29% to 14.12%. Other expenses fell from 11.01% to 10.37%. Other income fell 7.21% to Rs 6.95 crore. PBIDT rose 21.89% to Rs 166.22 crore. Provision for interest fell 64.35% to Rs 0.77 crore. Loan funds declined from Rs 23.49 crore as of 30 September 2023 to Rs 22.63 crore as of 30 September 2024. Inventories rose to Rs 230.99 crore as of 30 September 2024 from Rs 207.78 crore as of 30 September 2023. Sundry debtors were higher at Rs 247.34 crore as of 30 September 2024 compared to Rs 150.55 crore as of 30 September 2023. Cash and bank balance rose to Rs 217.61 crore as of 30 September 2024 from Rs 195.52 crore as of 30 September 2023. Investments declined from Rs 0.25 crore as of 30 September 2023 to Rs 0.08 crore as of 30 September 2024. PBDT rose 23.28% to Rs 165.45 crore. Provision for depreciation rose 11.94% to Rs 31.04 crore. Fixed assets increased to Rs 539.56 crore as of 30 September 2024 from Rs 494.79 crore as of 30 September 2023. Intangible assets increased from Rs 2.01 crore to Rs 2.30 crore. Profit before tax grew 26.23% to Rs 134.41 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 35.34 crore, compared to Rs 27.5 crore. Effective tax rate was 26.29% compared to 25.83%.Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 25.42% to Rs 99.06 crore. Equity capital increased from Rs 13.16 crore as of 30 September 2023 to Rs 26.32 crore as of 30 September 2024. Per share face Value remained same at Rs 10.00. Promoters’ stake was 58.96% as of 30 September 2024 ,compared to 66.56% as of 30 September 2023 .
Full year results analysis.
Net sales (including other operating income) of Fiem Industries has increased 9.78% to Rs 2028.79 crore. Sales of Automotive segment has gone up 9.81% to Rs 2,021.11 crore (accounting for 99.62% of total sales). Sales of Others segment has gone up 1.86% to Rs 7.67 crore (accounting for 0.38% of total sales). Profit before interest, tax and other unallocable items (PBIT) has jumped 17.24% to Rs 242.45 crore. PBIT of Automotive segment rose 17.05% to Rs 242.71 crore (accounting for 100.11% of total PBIT). PBIT of Others segment rose 52.33% to Rs -0.26 crore (accounting for -0.11% of total PBIT). PBIT margin of Automotive segment rose from 11.27% to 12.01%. PBIT margin of Others segment rose from negative 7.26% to negative 3.40%. Overall PBIT margin rose from 11.19% to 11.95%. Operating profit margin has declined from 13.45% to 13.24%, leading to 8.06% rise in operating profit to Rs 268.68 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 60.70% to 61.06%. Purchase of finished goods cost fell from 0.44% to 0.32%. Employee cost increased from 13.07% to 14.29%. Other expenses fell from 12.30% to 11.13%. Other income rose 47.87% to Rs 15.97 crore. PBIDT rose 9.72% to Rs 284.65 crore. Provision for interest fell 60.43% to Rs 2.94 crore. Loan funds declined from Rs 23.83 crore as of 31 March 2023 to Rs 23.11 crore as of 31 March 2024. Inventories rose to Rs 204.36 crore as of 31 March 2024 from Rs 175.70 crore as of 31 March 2023. Sundry debtors were higher at Rs 193.73 crore as of 31 March 2024 compared to Rs 140.80 crore as of 31 March 2023. Cash and bank balance rose to Rs 206.12 crore as of 31 March 2024 from Rs 183.12 crore as of 31 March 2023. Investments declined from Rs 0.25 crore as of 31 March 2023 to Rs 0.14 crore as of 31 March 2024. PBDT rose 11.79% to Rs 281.71 crore. Provision for depreciation fell 7.48% to Rs 58.65 crore. Fixed assets increased to Rs 498.74 crore as of 31 March 2024 from Rs 497.19 crore as of 31 March 2023. Intangible assets increased from Rs 1.77 crore to Rs 2.41 crore. Profit before tax grew 18.26% to Rs 223.06 crore. Share of profit/loss was 120% lower at Rs -0.11 crore. Provision for tax was expense of Rs 57.24 crore, compared to Rs 48.74 crore. Effective tax rate was 25.67% compared to 25.85%. Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 18.51% to Rs 165.71 crore. Equity capital increased from Rs 13.16 crore as of 31 March 2023 to Rs 26.32 crore as of 31 March 2024. Per share face Value remained same at Rs 10.00. Promoters’ stake was 66.56% as of 31 March 2024 ,compared to 66.56% as of 31 March 2023 . Cash flow from operating activities increased to Rs 134.88 crore for year ended March 2024 from Rs 130.89 crore for year ended March 2023. Cash flow used in acquiring fixed assets during the year ended March 2024 stood at Rs 84.29 crore, compared to Rs 55.17 crore during the year ended March 2023. Business highlights
In Q2 FY25, automotive segment contributed
99.88% to total revenue and IPIS & LED luminaries 0.12%.
In terms of product
mix, automotive lighting contributed 31.18% to total revenue in Q2 FY25,
Automotive LED lighting 41.79%, plastic moulded parts 10.12%, rear view mirrors
11.58% and others 5.33%.
In Q2 FY25, two-wheelers
customers contributed 97.68% to total revenue and four-wheelers 2.32%.
In Q2 FY25, Honda two
wheeler contributed 28.76% to total revenue, TVS Motor 28.34%, India Yamaha
14.07%, Suzuki Motorcycle 8.92%, Replacement market 5.63%, Eicher Royal Enfield
4.7% and other customers 9.58%.
| Fiem Industries : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
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| Particulars | 202409 | 202309 | Var.(%) | 202409 | 202309 | Var.(%) | 202403 | 202303 | Var.(%) |
|---|
| Net Sales (including other operating income) | 612.40 | 509.38 | 20.22 | 1,190.09 | 983.98 | 20.95 | 2,028.79 | 1,848.06 | 9.78 | | OPM (%) | 13.18 | 13.36 | -18 bps | 13.38 | 13.10 | 29 bps | 13.24 | 13.45 | -21 bps | | OP | 80.73 | 68.05 | 18.63 | 159.27 | 128.88 | 23.58 | 268.68 | 248.64 | 8.06 | | Other Inc. | 3.60 | 3.98 | -9.55 | 6.95 | 7.49 | -7.21 | 15.97 | 10.80 | 47.87 | | PBIDT | 84.33 | 72.03 | 17.08 | 166.22 | 136.37 | 21.89 | 284.65 | 259.44 | 9.72 | | Interest | 0.39 | 0.41 | -4.88 | 0.77 | 2.16 | -64.35 | 2.94 | 7.43 | -60.43 | | PBDT | 83.94 | 71.62 | 17.20 | 165.45 | 134.21 | 23.28 | 281.71 | 252.01 | 11.79 | | Depreciation | 15.94 | 13.42 | 18.78 | 31.04 | 27.73 | 11.94 | 58.65 | 63.39 | -7.48 | | PBT | 68.00 | 58.20 | 16.84 | 134.41 | 106.48 | 26.23 | 223.06 | 188.62 | 18.26 | | Share of Profit/(Loss) from Associates | -0.01 | 0 | - | -0.01 | 0 | - | -0.11 | -0.05 | -120.00 | | PBT before EO | 67.99 | 58.2 | 16.82 | 134.4 | 106.48 | 26.22 | 222.95 | 188.57 | 18.23 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 67.99 | 58.2 | 16.82 | 134.4 | 106.48 | 26.22 | 222.95 | 188.57 | 18.23 | | Taxation | 17.82 | 14.72 | 21.06 | 35.34 | 27.5 | 28.51 | 57.24 | 48.74 | 17.44 | | PAT | 50.17 | 43.48 | 15.39 | 99.06 | 78.98 | 25.42 | 165.71 | 139.83 | 18.51 | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit | 50.17 | 43.48 | 15.39 | 99.06 | 78.98 | 25.42 | 165.71 | 139.83 | 18.51 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 50.17 | 43.48 | 15.39 | 99.06 | 78.98 | 25.42 | 165.71 | 139.83 | 18.51 | | EPS (Rs)* | 19.06 | 16.52 | 15.39 | 37.64 | 30.01 | 25.42 | 62.96 | 53.13 | 18.51 | | | * EPS is on current equity of Rs 26.32 crore, Face value of Rs 10, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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| Fiem Industries : Consolidated Segment Results | td>-| | Quarter ended | Year to Date | Year ended |
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| % of (Total) | 202409 | 202309 | Var.(%) | % of (Total) | 202409 | 202309 | Var.(%) | % of (Total) | 202403 | 202303 | Var.(%) |
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| Sales | | Automotive | 99.85 | 611.48 | 508.05 | 20.36 | 99.74 | 1,187.02 | 981.04 | 21.00 | 99.62 | 2,021.11 | 1,840.53 | 9.81 | | Others | 0.15 | 0.91 | 1.33 | -31.80 | 0.26 | 3.07 | 2.95 | 4.15 | 0.38 | 7.67 | 7.53 | 1.86 | | Total Reported Sales | 100.00 | 612.39 | 509.38 | 20.22 | 100.00 | 1,190.09 | 983.98 | 20.95 | 100.00 | 2,028.78 | 1,848.06 | 9.78 | | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | | 0.00 | 0.00 | - | | Net Sales | 100.00 | 612.39 | 509.38 | 20.22 | 100.00 | 1,190.09 | 983.98 | 20.95 | 100.00 | 2,028.78 | 1,848.06 | 9.78 | | PBIT | | Automotive | 100.22 | 74.31 | 62.58 | 18.74 | 100.14 | 146.71 | 114.49 | 28.14 | 100.11 | 242.71 | 207.35 | 17.05 | | Others | -0.22 | -0.16 | -0.09 | -83.18 | -0.14 | -0.20 | -0.15 | -30.98 | -0.11 | -0.26 | -0.55 | 52.33 | | Total PBIT | 100.00 | 74.15 | 62.49 | 18.65 | 100.00 | 146.51 | 114.34 | 28.14 | 100.00 | 242.45 | 206.81 | 17.24 | | Less : Interest | | 0.39 | 0.41 | -5.17 | | 0.77 | 2.16 | -64.31 | | 2.94 | 7.43 | -60.46 | | Add: Other un-allcoable | | -5.77 | -3.88 | -48.64 | | -11.34 | -5.70 | -98.85 | | -16.45 | -10.76 | -52.93 | | PBIT Margin(%) | | Automotive | | 12.15 | 12.32 | -16.53 | | 12.36 | 11.67 | 68.93 | | 12.01 | 11.27 | 74.29 | | Others | | -17.96 | -6.69 | -1,127.48 | | -6.59 | -5.24 | -135.09 | | -3.40 | -7.26 | 386.05 | | PBT | 100.00 | 67.99 | 58.20 | 16.82 | 100.00 | 134.41 | 106.48 | 26.22 | 100.00 | 223.06 | 188.62 | 18.26 |
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