Fiem Industries

On consolidated basis

Quarter ended December 2024 compared with Quarter ended December 2023.

Net sales (including other operating income) of Fiem Industries has increased 21.72% to Rs 593.09 crore.''Sales of Automotive segment has gone up 21.90% to Rs 591.78 crore (accounting for 99.78% of total sales).''Sales of Others segment has gone down 27.23% to Rs 1.32 crore (accounting for 0.22% of total sales).''

Profit before interest, tax and other unallocable items (PBIT) has jumped 20.97% to Rs 70.45 crore.''PBIT of Automotive segment rose 21.04% to Rs 70.57 crore (accounting for 100.17% of total PBIT).''PBIT of Others segment fell 87.70% to Rs -0.12 crore (accounting for -0.17% of total PBIT).''

PBIT margin of Automotive segment fell from 12.01% to 11.93%.''PBIT margin of Others segment fell from negative 3.50% to negative 9.03%.''Overall PBIT margin fell from 11.95% to 11.88%.''

Operating profit margin has declined from 13.32% to 13.08%, leading to 19.57% rise in operating profit to Rs 77.58 crore.''Raw material cost as a % of total sales (net of stock adjustments) increased from 60.46% to 62.42%. ''Purchase of finished goods cost fell from 0.31% to 0.30%. ''Employee cost decreased from 14.84% to 13.81%. ''Other expenses fell from 11.23% to 10.60%. ''

Other income fell 22.74% to Rs 3.84 crore.''PBIDT rose 16.56% to Rs 81.42 crore.''Provision for interest fell 4.88% to Rs 0.39 crore.''

PBDT rose 16.69% to Rs 81.03 crore.''Provision for depreciation rose 13.33% to Rs 16.49 crore.''

Profit before tax grew 17.58% to Rs 64.54 crore.''Share of profit/loss were nil in both the periods.''Provision for tax was expense of Rs 17.52 crore, compared to Rs 14.39 crore.''Effective tax rate was 27.15% compared to 26.22%.

Minority interest was nil in both the periods.''Net profit attributable to owners of the company increased 16.10% to Rs 47.02 crore.''

Promoters' stake was 58.96% as of 31 December 2024 ,compared to 66.56% as of 31 December 2023 .''

For year-to-date (YTD) results analysis.

Net sales (including other operating income) of Fiem Industries has increased 21.20% to Rs 1783.18 crore.''Sales of Automotive segment has gone up 21.30% to Rs 1,778.80 crore (accounting for 99.75% of total sales).''Sales of Others segment has gone down 7.79% to Rs 4.39 crore (accounting for 0.25% of total sales).''

Profit before interest, tax and other unallocable items (PBIT) has jumped 25.72% to Rs 216.97 crore.''PBIT of Automotive segment rose 25.75% to Rs 217.29 crore (accounting for 100.15% of total PBIT).''PBIT of Others segment fell 47.57% to Rs -0.32 crore (accounting for -0.15% of total PBIT).''

PBIT margin of Automotive segment rose from 11.78% to 12.22%.''PBIT margin of Others segment fell from negative 4.58% to negative 7.33%.''Overall PBIT margin rose from 11.73% to 12.17%.''

Operating profit margin has jumped from 13.17% to 13.28%, leading to 22.23% rise in operating profit to Rs 236.82 crore.''Raw material cost as a % of total sales (net of stock adjustments) increased from 61.06% to 62.05%. ''Purchase of finished goods cost fell from 0.32% to 0.27%. ''Employee cost decreased from 14.47% to 14.02%. ''Other expenses fell from 11.09% to 10.45%. ''

Other income fell 13.40% to Rs 10.79 crore.''PBIDT rose 20.08% to Rs 247.61 crore.''Provision for interest fell 55.08% to Rs 1.15 crore.''

PBDT rose 21.02% to Rs 246.46 crore.''Provision for depreciation rose 12.42% to Rs 47.53 crore.''

Profit before tax grew 23.28% to Rs 198.93 crore.''Share of profit/loss were nil in both the periods.''Provision for tax was expense of Rs 52.85 crore, compared to Rs 41.89 crore.''Effective tax rate was 26.57% compared to 25.96%.

Minority interest was nil in both the periods.''Net profit attributable to owners of the company increased 22.25% to Rs 146.07 crore.''

Promoters' stake was 58.96% as of 31 December 2024 ,compared to 66.56% as of 31 December 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 9M FY25, automotive segment contributed 99.78% to total revenue and IPIS & LED luminaries 0.22%.

In terms of product mix, automotive lighting contributed 30.88% to total revenue in 9M FY25, Automotive LED lighting 42.44%, plastic moulded parts 10.02%, rear view mirrors 11.29% and others 5.37%.

In 9M FY25, two-wheelers customers contributed 97.4% to total revenue and four-wheelers 2.6%.

In 9M FY25, Honda two wheeler contributed 27.88% to total revenue, TVS Motor 27.59%, India Yamaha 15.18%, Suzuki Motorcycle 9.25%, Replacement market 5.68%, Eicher Royal Enfield 4.32% and other customers 10.1%.

Fiem Industries : Consolidated Results

' Quarter ended Year to Date Year ended Particulars 202412 202312 Var.(%) 202412 202312 Var.(%) 202403 202303 Var.(%) Net Sales (including other operating income) 593.09 487.27 21.72 1,783.18 1,471.26 21.20 2,028.79 1,848.06 9.78 OPM (%) 13.08 13.32 -23 bps 13.28 13.17 11 bps 13.24 13.45 -21 bps OP 77.58 64.88 19.57 236.82 193.75 22.23 268.68 248.64 8.06 Other Inc. 3.84 4.97 -22.74 10.79 12.46 -13.40 15.97 10.80 47.87 PBIDT 81.42 69.85 16.56 247.61 206.21 20.08 284.65 259.44 9.72 Interest 0.39 0.41 -4.88 1.15 2.56 -55.08 2.94 7.43 -60.43 PBDT 81.03 69.44 16.69 246.46 203.65 21.02 281.71 252.01 11.79 Depreciation 16.49 14.55 13.33 47.53 42.28 12.42 58.65 63.39 -7.48 PBT 64.54 54.89 17.58 198.93 161.37 23.28 223.06 188.62 18.26 Share of Profit/(Loss) from Associates 0 0 - -0.01 0 - -0.11 -0.05 -120.00 PBT before EO 64.54 54.89 17.58 198.92 161.37 23.27 222.95 188.57 18.23 EO Income 0 0 - 0 0 - 0 0 - PBT after EO 64.54 54.89 17.58 198.92 161.37 23.27 222.95 188.57 18.23 Taxation 17.52 14.39 21.75 52.85 41.89 26.16 57.24 48.74 17.44 PAT 47.02 40.5 16.10 146.07 119.48 22.25 165.71 139.83 18.51 Minority Interest (MI) 0 0 - 0 0 - 0 0 - Net profit 47.02 40.5 16.10 146.07 119.48 22.25 165.71 139.83 18.51 P/(L) from discontinued operations net of tax 0 0 - 0 0 - 0 0 - Net profit after discontinued operations 47.02 40.5 16.10 146.07 119.48 22.25 165.71 139.83 18.51 EPS (Rs)* 17.87 15.39 16.10 55.50 45.40 22.25 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

Fiem Industries : Consolidated Segment Results

td>- ' Quarter ended Year to Date Year ended % of (Total) 202412 202312 Var.(%) % of (Total) 202412 202312 Var.(%) % of (Total) 202403 202303 Var.(%) Sales Automotive 99.78 591.78 485.47 21.90 99.75 1,778.80 1,466.50 21.30 99.62 2,021.11 1,840.53 9.81 Others 0.22 1.32 1.81 -27.23 0.25 4.39 4.76 -7.79 0.38 7.67 7.53 1.86 Total Reported Sales 100.00 593.09 487.28 21.72 100.00 1,783.19 1,471.26 21.20 100.00 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 100.00 593.09 487.28 21.72 100.00 1,783.19 1,471.26 21.20 100.00 2,028.78 1,848.06 9.78 PBIT Automotive 100.17 70.57 58.31 21.04 100.15 217.29 172.80 25.75 100.11 242.71 207.35 17.05 Others -0.17 -0.12 -0.06 -87.70 -0.15 -0.32 -0.22 -47.57 -0.11 -0.26 -0.55 52.33 Total PBIT 100.00 70.45 58.24 20.97 100.00 216.97 172.58 25.72 100.00 242.45 206.81 17.24 Less : Interest 0.39 0.41 -4.98 1.15 2.56 -54.91 2.94 7.43 -60.46 Add: Other un-allcoable -5.54 -2.95 -87.91 -16.87 -8.65 -95.13 -16.45 -10.76 -52.93 PBIT Margin(%) Automotive ' 11.93 12.01 -8.46 ' 12.22 11.78 43.24 ' 12.01 11.27 74.29 Others ' -9.03 -3.50 -552.87 ' -7.33 -4.58 -274.98 ' -3.40 -7.26 386.05 PBT 100.00 64.53 54.89 17.57 100.00 198.94 161.37 23.28 100.00 223.06 188.62 18.26