Fiem Industries Ltd Stock Analysis

BSE: 532768 | NSE: FIEMIND | Auto Ancillary | Small Cap

BSE Share Price Jan 27, 18:01
1159.35 10.40 (0.91%)

DeciZen - Make an Informed Decision on Fiem Inds

Overall Rating
See How?

1. Quality

2. Valuation

Fair
P/E P/S EV/EBITDA

3. Price Trend

Semi Strong

FAQ's

1. Is Fiem Industries Ltd a good quality company?

Data is not available for this company.

2. Is Fiem Industries Ltd undervalued or overvalued?

The key valuation ratios of Fiem Industries Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is Fiem Industries Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Fiem Industries Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Fiem Inds:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.

Value Creation

Value Creation Index Colour Code Guide
Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21TTM
ROCE % 13.9%12.6%15.3%15.4%18%11.3%10.6%11.3%14.4%9.1%-
Value Creation Index -0.0-0.10.10.10.3-0.2-0.2-0.20.0-0.4-

Growth Parameters

Growth Parameters Colour Code Guide
Sales 5346027188259871,0141,2381,4441,3781,2211,459
YoY Gr. Rt. %-12.9%19.3%14.8%19.7%2.8%22.1%16.6%-4.6%-11.4%-
Adj EPS 20.524.63135.447.832.538.242.160.737.564.8
YoY Gr. Rt. %-20.2%25.8%14.3%34.9%-32%17.4%10.3%44.1%-38.2%-
BVPS (₹) 108.9129153.2178.5216.7311.4341.2362.2402435.8449.7
Adj Net Profit 24.529.537.142.457.142.850.255.479.849.385
Cash Flow from Ops. 51.971.376.682.112246124119209136-
Debt/CF from Ops. 3.11.91.61.41.24.91.31.40.50.4-

CAGR

CAGR Colour Code Guide
9 Years 5 Years 3 Years 1 Years
Sales 9.6%4.4%-0.5%-11.4%
Adj EPS 6.9%-4.7%-0.6%-38.2%
BVPS 16.7158.58.4
Share Price 22.2% 0.8% 32.6% 102.9%

Key Financial Parameters

Performance Ratio Colour Code Guide
Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21TTM
Return on Equity % 18.118.920.32022.812.511.71215.9914.6
Op. Profit Mgn % 13.61212.312.412.911.611.410.711.41112.3
Net Profit Mgn % 4.64.95.25.15.84.24.13.85.845.9
Debt to Equity 1.30.90.70.60.50.60.40.40.20.10
Working Cap Days 7674646064819090827478
Cash Conv. Cycle 1616111045121614320

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 14.60%

Sales growth is good in last 4 quarters at 90.98%

Sales growth has been subdued in last 3 years -0.47%

Net Profit has been subdued in last 3 years -0.60%

Latest Financials - Fiem Industries Ltd.

Standalone Consolidated
TTM EPS (₹) 64.8 64.7
TTM Sales (₹ Cr.) 1,459 1,459
BVPS (₹.) 449.7 445.2
Reserves (₹ Cr.) 579 573
P/BV 2.56 2.59
PE 17.72 17.80
From the Market
52 Week Low / High (₹) 524.95 / 1377.70
All Time Low / High (₹) 39.25 / 1509.95
Market Cap (₹ Cr.) 1,512
Equity (₹ Cr.) 13.2
Face Value (₹) 10
Industry PE 39.4

Management X-Ray of Fiem Inds :

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

Analyst's Notes

News

About Fiem Industries Ltd

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:

  • TWO WHEELERS - lighting & signaling equipments and rear view mirrors.
  • FOUR WHEELERS - lighting & signaling equipments and rear view mirrors.
  • AUXILLARY LAMPS
  • WARNING TRIANGLES  
  • REFLEX REFLECTORS
  • LED LAMPS

Awards & Achievements:

  • The company was accredited with ISO-9002 in the year 1997 by BVQI, London . 
  • In the year 1999, their Unit Sonepat Haryana was accredited with ISO 9001: 2000 & ISO 9002 : 1994 and the quality system requirements certification QS 9000 : 1998 by Underwriters Laboratories Inc. (UL), USA for the manufacture of automotive lighting & signaling equipments and rear view mirrors.
  •  In the year 2004, their Unit I at Sonepat, Haryana was accredited with ISO/TS 16949 : 2002 by UL, USA.
  •  In the year 2005, their Unit II at Hosur , Tamil Nadu was accredited with ISO/TS 16949 : 2002 by UL, USA.
  •  In the same year, their Unit I at Sonepat, Haryana was accredited with ISO 14001-2004 by UL , USA.
  •  Prior to this in the year 2002, their unit I at Sonepat, Haryana also received the 'Confirmity of production' form RDW, Netherlands for e-marked products.
  • The Company was awarded Bhartiya shiromani Puruskar by the Institute of Economic Studies (IES), New Delhi in the year 2005. 
  • In 2007 Company has received QCDDM (Quality, Cost, Delivery, Development and Management) Award from its esteemed customer M/s Honda Motorcycle & Scooter India Pvt. Limited for 4th Consecutive year.

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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