Fiem Industries Ltd Stock Analysis

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

BSE Share Price 08-Feb-2023 10:07
1649.30 10.80 (0.66%)

DeciZen - Make an Informed Decision on Fiem Inds

Overall Rating

1. Quality

2. Valuation

Somewhat overvalued

3. Price Trend

Semi Strong

Fiem Inds Price Chart

P/E Ratio ( SA) :
17.17
Market Cap :
2,156.2 Cr.
52-wk low :
800
52-wk high :
2,084.6
Bole Toh?

1. Is Fiem Industries Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Fiem Industries Ltd is a good quality 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 Somewhat overvalued 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
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

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.
Fiem Industries Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22TTM
ROCE % 12.6%15.3%15.4%18%11.3%10.6%11.3%14.4%9.1%15.6%-
Value Creation Index -0.10.10.10.3-0.2-0.2-0.20.0-0.40.1-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 6027188259871,0141,2381,4441,3781,2211,5721,833
YoY Gr. Rt. %-19.3%14.8%19.7%2.8%22.1%16.6%-4.6%-11.4%28.8%-
Adj EPS 24.63135.447.832.538.242.160.737.572.495.5
YoY Gr. Rt. %-25.8%14.3%34.9%-32%17.4%10.3%44.1%-38.2%93.2%-
BVPS (₹) 129153.2178.5216.7311.4341.2362.2402435.8492524.6
Adj Net Profit 29.537.142.457.142.850.255.479.849.395.3126
Cash Flow from Ops. 71.376.682.11224612411920913692.6-
Debt/CF from Ops. 1.91.61.41.24.91.31.40.50.40.2-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 11.3%9.2%2.9%28.8%
Adj EPS 12.7%17.4%19.8%93.2%
BVPS 169.610.812.9
Share Price 24.1% 12.8% 51.3% 48%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22TTM
Return on Equity % 18.920.32022.812.511.71215.9915.618.8
Op. Profit Mgn % 1212.312.412.911.611.410.711.41112.313
Net Profit Mgn % 4.95.25.15.84.24.13.85.846.16.9
Debt to Equity 0.90.70.60.50.60.40.40.20.100
Working Cap Days 7464606481909082747394
Cash Conv. Cycle 161110451216143843

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 18.80%

Net Profit is growing at healthy rate in last 3 years 19.81%

Sales growth is good in last 4 quarters at 28.16%

Sales growth has been subdued in last 3 years 2.88%

Latest Financials - Fiem Industries Ltd.

Standalone Consolidated
TTM EPS (₹) 95.5 96.4
TTM Sales (₹ Cr.) 1,833 1,833
BVPS (₹.) 524.6 525.5
Reserves (₹ Cr.) 677 678
P/BV 3.12 3.13
PE 17.17 17.08
From the Market
52 Week Low / High (₹) 800.00 / 2084.60
All Time Low / High (₹) 39.25 / 2084.60
Market Cap (₹ Cr.) 2,156
Equity (₹ Cr.) 13.2
Face Value (₹) 10
Industry PE 35.3

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

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Analyst's Notes

Key Ratios of Fiem Inds

Adj EPS (Rs.)
Sales (Cr.)
ROE (%)
ROCE (%)

News

Fiem Industries Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Fiem Inds on 08-Feb-2023 10:07 is : 1,649.3.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 08-Feb-2023 10:07 the market cap of Fiem Inds stood at ₹ 2,156.2.
The latest PE ratio of Fiem Inds as of 08-Feb-2023 10:07 is 17.17.
The latest PB ratio of Fiem Inds as of 08-Feb-2023 10:07 is 3.12
The 52-week high of Fiem Inds is ₹ 2,084.6 and the 52-week low is ₹ 800.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue / sales of Fiem Inds is ₹ 1,833 ( Cr.) .

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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