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Shares of Fiem Industries continued their northward movement, clocking a new high at Rs 2,024.95 - up 11 per cent on the BSE in Monday’s intra-day trade. In the past two trading sessions, the stock of the auto ancillary company has soared 22 per cent after it reported 54 per cent year-on-year (YoY) jump in its consolidated net profit at Rs 40.77 crore for the quarter ended September 2022 (Q2FY23). Consolidated net sales grew 25 per cent YoY to Rs 521 crore.
In the past five months, the stock price of Fiem Industries has doubled from a level of Rs 1,010. In the past six months, it has zoomed 140 per cent, as compared to 17 per cent rise in the S&P BSE Sensex.
Fiem is one of the leading manufacturers of automotive lighting & signalling equipment's and rear view mirrors in India. Its major business comes from the two-wheeler segment of the automotive industry.
The company has a diversified product portfolio ranging from head lamps, tail lamps, signalling lamps, roof lamps, rear view mirrors, wheel covers, warning triangles, complete rear fender assembly, frame assembly, mudguards, various automobile sheet metal and plastic parts, canister and bank (Lean) angle sensor.
Fiem has significant market share for supply of automotive lighting & signalling equipment's and rear view mirrors to Two-wheeler and Four-wheeler OEM’s. The company exporting automotive lighting to Honda Japan, Harley Davidson (USA & Thailand), Kubota Japan (Tractors & Farm equipment's) besides exporting to other OEM’s in Austria, UK, Germany, Thailand, Indonesia & Vietnam. The company has the first mover advantage and working with all major EV OEMs in India.
The company strongly believes that Electric 2W is the future of two-wheeler Industry. The speed of transformation is really encouraging. The competitive landscape among OEMs is taking new shape, while the existing OEMs have put special focus through new verticals and subsidiaries, the new players, who are only making Electric 2W, are also coming with big capital and large production capacity plans.
The Electric 2W ecosystem is developing with a fast pace in the country and it has got unprecedented support and push from Central as well as State Governments, the company said.
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First Published: Mon, November 14 2022. 12:20 IST
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