Fiem Industries Ltd — Q4 FY26 earnings call
Summary generated by AI from the official transcript Fiem Industries Ltd filed with BSE on 06 Jun 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Fiem Industries reported record FY26 results with revenue growth of about 16%, EBITDA margin reaching 14.09%, and PAT growth of 24.36% for the full year. Management discussed progress across 2-wheeler customers including TVS, Honda, Royal Enfield, Suzuki, Yamaha and Hero, and outlined early-stage growth in the 4-wheeler business with Mahindra & Mahindra, Force Motors and Mercedes. Leadership changes were announced, with Rahul Jain taking on additional responsibility for the 4-wheeler business after Vineet Sahni's departure, and Aanchal Jain appointed as Joint Managing Director.
Numbers mentioned
Quarterly sales: INR744.35 crores (Q4 FY26)
p. 5
“The company has registered quarterly sales of INR744.35 crores in Q4 of FY26 as compared to INR633.8 crores over the same quarter last year, registering a growth of 17.44%”
O P Gupta, page 5 of the filed PDF · View the filing
EBITDA: INR109.18 crores (Q4 FY26)
p. 5
“The EBITDA in Q4 was INR109.18 crores translating into an EBITDA margin of 14.67% as compared to INR83.81 crores over the same quarter last year with EBITDA margin of 13.22%”
O P Gupta, page 5 of the filed PDF · View the filing
PAT: INR70.59 crores (Q4 FY26)
p. 5
“The PAT of the company has also increased to INR70.59 crores as compared to INR57.69 crores in Q4 of FY25, representing an increase of 22.36%”
O P Gupta, page 5 of the filed PDF · View the filing
Net sales: INR2,790.65 crores (FY26)
p. 5
“During FY26, the company has achieved net sales of INR2,790.65 crores as compared to INR2,404.96 crores in FY25, representing a growth of 16.04%”
O P Gupta, page 5 of the filed PDF · View the filing
EBITDA margin: 14.09% (FY26)
p. 5
“EBITDA stood at INR393.34 crores translating into an EBITDA margin of 14.09% as compared to INR320.73 crores during FY25, translating into an EBITDA margin of 13.34%”
O P Gupta, page 5 of the filed PDF · View the filing
PAT: INR253.87 crores (FY26)
p. 5
“PAT of the company stood at INR253.87 crores as compared to INR204.14 crores during FY25, which is higher by 24.36%”
O P Gupta, page 5 of the filed PDF · View the filing
LED lighting share: 60% (63%) (FY26)
p. 5
“As a percentage of total automotive lighting, the LED lighting stands at 60% (63%) in comparison to 60% during last 3 years”
O P Gupta, page 5 of the filed PDF · View the filing
Final dividend: 400% (INR40 per share) (FY26)
p. 5
“I am also pleased to share that the Board has recommended a final dividend of 400%, that is INR40 per share amounting to INR105.28 crores”
O P Gupta, page 5 of the filed PDF · View the filing
Capex: INR108.31 crores (FY26)
p. 5
“During the year, the company has made a capex of INR108.31 crores”
O P Gupta, page 5 of the filed PDF · View the filing
Capacity utilization: 75%
p. 12
“Current capacity utilization is in the range of 75%”
Management, page 12 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management explained the increase is due to discontinuing bill discounting with major customers rather than any change in payment terms.
Answered by Management
Asked by Dilip Varma: Why have receivables increased this year versus last, and is the company able to recover money from customers?
p. 5
“There is some increase in the number of debtors, but please understand there is no change in the payment terms.”
Management, page 5 of the filed PDF · View the filing
Management said employee cost as a percentage of sales was largely unchanged year over year, with some increase due to recent labor cost notifications.
Answered by Management
Asked by Khush Nahar: What is driving the increase in other expenses and employee cost relative to revenue?
p. 6
“So as a percentage of sales this year -- for full year, this is 13.80%. And earlier also, this is the same range..13.62%. So there is no major change.”
Management, page 6 of the filed PDF · View the filing
Management said about 70% of the RFQs have already been converted into business under development.
Answered by Management
Asked by Khush Nahar: What is the status of the roughly INR700 crores of RFQs and their conversion into business?
p. 6
“we have already converted 70% of those RFQs into a business and which will be under development right now.”
Management, page 6 of the filed PDF · View the filing
Management described a gradual increase in business with Mahindra, moving from second source to some first source projects, with more detail to come once launched.
Answered by Management
Asked by Anubhav Mukherjee: Can management give color on new business from Mahindra & Mahindra and expected ramp-up in FY27?
p. 6
“We started our business 1.5 years before, and we are slowly and gradually be increasing one other part, which are as a second source.”
Management, page 6 of the filed PDF · View the filing
Management guided to INR100-150 crores in the current year rising to INR200-250 crores in FY27-28, cautioning that RFQ conversion does not equal firm orders.
Answered by Management
Asked by Arun Agarwal: How will the 4-wheeler revenue scale up over the next couple of years?
p. 8
“So let us not read it as conversion into a fixed order.”
Management, page 8 of the filed PDF · View the filing
Management said Sahni mutually decided to pursue other opportunities after a 3-year term and that the new leadership team, comprising Rajesh Sharma and Rahul Jain, would carry the strategy forward without derailment.
Answered by Management
Asked by Yash: Why did Vineet Sahni resign as CEO of the 4-wheeler business and is there any delay to strategy?
p. 9
“Vineet Sahni has left and decided to pursue other interests. He served with us for a 3-year period.”
Management, page 9 of the filed PDF · View the filing
Management said pricing is highly dependent on the specific product configuration but that LED is roughly 3-4x the price of conventional lighting.
Answered by Management
Asked by Akshay Shah: What is the price difference between a halogen lighting setup and an LED setup?
p. 9
“But conventional to LED, it is 3 to 4x.”
Management, page 9 of the filed PDF · View the filing
Management said there is no borrowing cost given healthy cash reserves, and insurance premium renewal terms will be renegotiated each year.
Answered by Management
Asked by Rahul Majethia: Will the Tapukara fire and insurance claim lead to higher insurance or borrowing costs?
p. 11
“We already have a very healthy cash in our hand. So, there is no question of borrowing cost in our company.”
Management, page 11 of the filed PDF · View the filing
Management said the business is currently too small to assess individually and expects it to run at neutral margins for the next few years.
Answered by Management
Asked by Shubham Sehgal: Will the 4-wheeler business be margin accretive or in line with current margins?
p. 13
“Right now, that business is too small to look at individual margin.”
Management, page 13 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.