Fiem Industries hosted a conference call on Feb 12, 2026. In the conference call, the company was represented by- Mr. J.K. Jain, Chairman & Managing Director, Mr. O.P. Gupta, Chief Financial Officer and Mr. Arvind K. Chauhan, Company Secretary.

Key takeaways of the call

In Q3 FY26, the company delivered strong performance, supported by the festival demand and improving rural sentiment.

Management stated that domestic demand is expected to remain strong in FY27 aided by stable inflation, GST reforms, and supportive government policies.

The company maintained its revenue growth guidance of 15-20%YoY for FY27.

Management expects EBITDA margins to remain above 14% going forward driven by operational efficiency and cost control.

Its major customers like TVS, Honda have reported healthy volume performance during the quarter.

The company is rolling out renewable energy projects across all its plants. This green initiative will help reduce energy costs and improve operational efficiency.

Its state-of-the-art EMC and EMI laboratory in Gurgaon has started trials and product validation. This enhances its electronic capabilities and in-house testing and validation infrastructure.

The company is expanding its capabilities in advanced lighting and electronic technologies, which is expected to drive future growth.

The company now supply products such as number plate lamps, rear reflector and fog lamp across various models to Mahindra & Mahindra. In addition, high mount stop lamp of Bolero and Scorpio are currently under development.

The company continues development and production of lighting parts for Yamaha’s Tracer 700 export models.

RFQs from Force Motors have progressed to development stage and is expected to be announced in the next quarterly meet.

The company remains focused on increasing PV segment contribution gradually.

During Q2 FY26, a fire incident occurred on August 23, 2025 at Unit 8 in Tapukara, Rajasthan. There was no loss of life or injury, and the fire was largely confined to the first floor of the facility. The company recognized insurance claims receivable for affected inventories of Rs 21.05 crore and property, plant and equipment of Rs 27.61 crore, supported by adequate insurance coverage. An estimated claim of Rs 82.30 crore has been submitted to the insurer on January 30, 2026, with final settlement subject to assessment.

During 9M FY26, automotive segment contributed 99.8% to total revenue and IPIS & LED luminaries 0.2%.

In terms of product mix, automotive lighting contributed 27.49% to total revenue in 9M FY26, Automotive LED lighting 47.74%, plastic moulded parts 9.22%, rear view mirrors 10.8% and others 4.75%.

Automotive lighting contributed 27.76% to total revenue in Q3 FY26, Automotive LED lighting 47.53%, plastic moulded parts 9.29%, rear view mirrors 10.84% and others 4.58%.

During 9M FY26, two-wheelers customers contributed 97.32% to total revenue and four-wheelers 2.68%.

In Q3 FY26, two-wheelers customers contributed 97.02% to total revenue and four-wheelers 2.98%.

During 9M FY26, domestic OEMs contributed 93.12% to total revenue, domestic replacement market 5.02% and exports 1.86%.

In Q3 FY26, domestic OEMs contributed 93.09% to total revenue, domestic replacement market 4.94% and exports 1.97%.

During 9M FY26, Honda two-wheeler contributed 24.86% to total revenue, TVS Motor 32.48%, India Yamaha 14.32%, Suzuki Motorcycle 9.22%, Replacement market 5.02%, Eicher Royal Enfield 5.77% and other customers 8.33%.

In Q3 FY26, Honda two-wheeler contributed 24.47% to total revenue, TVS Motor 34.04%, India Yamaha 13.26%, Suzuki Motorcycle 9.73%, Replacement market 4.94%, Eicher Royal Enfield 5.91% and other customers 7.65%.

The company intends to move up the value chain, by focusing on high value products.

Others Automotive Segment Include items contributing less than 10% of Total Sale, mainly includes Fabrication items, Canister, Bank Angle Sensor etc.

During Q3 FY26, the company incurred a capex of Rs 41.02 crore, taking the total capex for 9M FY26 to Rs 78.83 crore, while planned capex for Q4 FY26 stands at Rs 20 crore.

Management guided capex of Rs 200 crore for the next two years.

The company achieved utilization of around 77-78% in Q3 FY26 and is simultaneously investing in capacity expansion to cater to increasing demand.