Fiem Industries financials and balance sheet

NSE: FIEMINDBSE: 532768Auto ComponentsSmall Cap

₹1,757.70₹88.50 (4.79%)BSE ₹1,758.85

Share price at the NSE close on 23 Oct 2026. Previous close ₹1,846.20.

52-week range of traded prices to 23 Oct 2026

₹1,696.20Low, 13 Oct 2026₹2,674.80High, 12 Aug 2026

Market cap: ₹4,626 Cr734th largest listed
P/E: 17.6
P/B: 3.8
Dividend yield: 2.28%
ROE: 23.3%
ROCE: 27.6%
Debt to equity: 0.00
Volume, NSE: 74,88652.1% delivered

10 years at a glance

Consolidated: the company and its subsidiaries together. ₹ crore, years to March.Fiem Industries annual reports

Revenue, net profit and borrowings, ₹ crore

Revenue
Net profit
Borrowings

Peak revenue ₹2,816 Cr, year to Mar 2026

Operating and net margin, per cent

Operating margin
Net margin

From Apr 2019 leases sit on the balance sheet: rent is charged as depreciation and interest instead, so operating profit and total assets step up with nothing about the business having changed. Borrowings here leave lease liabilities out. Lease payments were 0.7% of operating profit in the first full year.

Results for the year to Mar 2026

Consolidated: the company and its subsidiaries together. ₹ crore.

From revenue to net profit

Revenue2,816
Materials and goods−1,710
Employee costs−394
Other expenses−316
Operating profit396
Depreciation−72
Other income+21
One-off items0.0
Finance costs−2.8
Profit before tax341
Tax−86
Joint ventures0.0
Net profit256

What the company owns

Plant, investments and other assets₹767 Cr
Receivables₹388 Cr
Cash and bank₹280 Cr
Inventory₹267 Cr

What pays for it: net worth and liabilities

Net worth₹1,215 Cr
Owed to suppliers₹286 Cr
Other liabilities₹199 Cr

Fiem Industries business segments, year to Mar 2026

A reportable segment is a line of business the company must report on its own. Consolidated, ₹ crore, as the company reports them. A segment at a loss has no share of profit.Fiem Industries segment results by quarter

Revenue by segment

₹2,816 CrTotal

Automotive Segment₹2,811 Cr99.8% of total
Others Segment₹5 Cr0.2% of total

Profit by segment

Automotive Segment₹365 Cr100.0% of total

Segment results by year

Consolidated from the year to Mar 2020, standalone before, ₹ crore, years to March.

Automotive Segment
Revenue, ₹ crore
1,414
1,359
1,210
1,564
1,841
2,021
2,417
2,811
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
128
122
100
157
207
243
302
365
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Others Segment
Revenue, ₹ crore
11
8
8
8
6
5
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
−6
−5
−1
0
0
0
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26

₹ crore	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue of all businesses	1,444	1,379	1,221	1,572	1,848	2,029	2,423	2,816
Company revenue, as in its results	1,444	1,379	1,221	1,572	1,848	2,029	2,423	2,816
Revenue	1,414	1,359	1,210	1,564	1,841	2,021	2,417	2,811
Revenue growth	–	–	−11.0%	29.2%	17.7%	9.8%	19.6%	16.3%
Profit	128	122	100	157	207	243	302	365
Profit growth	–	–	−18.1%	56.2%	32.3%	17.1%	24.4%	20.9%
Margin	9.0%	9.0%	8.3%	10.0%	11.3%	12.0%	12.5%	13.0%
Return on capital	21.2%	23.5%	19.9%	27.9%	35.3%	35.3%	40.3%	38.9%
Assets	853	751	739	881	831	969	1,085	1,381
Liabilities	252	229	234	320	243	282	336	443
Capital employed	601	521	505	561	588	687	749	938
Revenue	–	–	11	8	8	8	6	5
Profit	–	–	−6	−5	−1	0	0	0
Margin	–	–	−58.0%	−59.0%	−7.3%	−3.4%	−7.3%	−8.4%
Return on capital	–	–	−12.9%	−24.7%	−3.5%	−2.3%	−4.4%	−5.0%
Assets	–	–	51	21	16	13	11	9
Liabilities	–	–	1	1	1	1	1	1
Capital employed	–	–	50	20	16	11	10	8
Revenue	30	20	–	–	–	–	–	–
Profit	−3	−2	–	–	–	–	–	–
Margin	−11.0%	−8.7%	–	–	–	–	–	–
Return on capital	−3.5%	−1.9%	–	–	–	–	–	–
Assets	99	98	–	–	–	–	–	–
Liabilities	7	3	–	–	–	–	–	–
Capital employed	93	95	–	–	–	–	–	–

Profit is before tax and finance costs, the way companies report their segments.

Profit and loss

Consolidated, ₹ crore, years to March.Fiem Industries quarterly results

₹ crore	Mar 2017	Mar 2018	Mar 2019	Mar 2020Filed 3 Jul	Mar 2021Filed 6 Jul	Mar 2022Filed 11 Jun	Mar 2023Filed 30 May	Mar 2024Filed 11 Jun	Mar 2025Filed 13 Jun	Mar 2026Filed 30 May
Revenue from operations	1,019	1,275	1,449	1,379	1,221	1,572	1,848	2,029	2,423	2,816
	901	1,134	1,292	1,223	1,087	1,378	1,599	1,760	2,100	2,420
Materials and goods bought	587	740	901	840	755	986	1,131	1,243	1,502	1,710
Employee costs	146	–	196	198	166	208	241	291	335	394
Other expenses	168	–	195	184	167	185	227	227	263	316
Operating profit before depreciation	118	141	157	157	134	194	249	269	322	396
Operating margin	11.6%	11.0%	10.8%	11.4%	11.0%	12.3%	13.5%	13.2%	13.3%	14.1%
Materials, % of revenue	57.6%	–	62.1%	60.9%	61.8%	62.7%	61.2%	61.3%	62.0%	60.7%
Employee costs, % of revenue	14.3%	–	13.6%	14.4%	13.6%	13.2%	13.0%	14.3%	13.8%	14.0%
Other expenses, % of revenue	16.5%	–	13.4%	13.3%	13.7%	11.7%	12.3%	11.2%	10.9%	11.2%
Depreciation and amortisation	39	44	49	53	57	59	63	59	64	72
Operating profit after depreciation	79	96	108	104	77	135	185	210	258	323
Other income	5	5	1	2	3	3	11	16	16	21
Finance costs	23	23	22	18	12	9	7	3	2	3
Profit before one-off items and tax	60	78	87	88	68	129	189	223	273	341
One-off items	−14	3	0	−1	−3	0	0	0	4	0
Profit before tax	46	82	87	87	65	129	189	223	276	341
	13	29	30	8	18	34	49	57	71	86
Current tax	–	–	–	22	19	37	59	58	70	94
Deferred tax	–	–	–	−14	−1	−4	−10	−1	1	−8
Share of profit of joint ventures and associates	–	0	−1	−4	0	−1	0	0	0	0
Net profit	33	53	56	75	47	94	140	166	205	256
Other comprehensive income	–	–	–	−1	1	0	−1	0	−1	−1
Total comprehensive income	–	–	–	74	48	94	139	165	203	255
Net margin	3.3%	4.1%	3.8%	5.4%	3.8%	6.0%	7.6%	8.2%	8.5%	9.1%
Net margin without joint ventures and associates	–	4.1%	3.9%	5.7%	3.8%	6.1%	7.6%	8.2%	8.5%	9.1%

Materials, employee costs and other expenses are shown for the years they add up to operating expenses; for the year to Mar 2018 they do not, so they are left blank.

Balance sheet

Consolidated, ₹ crore, at 31 March.

₹ crore	Mar 2020Filed 3 Jul	Mar 2021Filed 6 Jul	Mar 2022Filed 11 Jun	Mar 2023Filed 30 May	Mar 2024Filed 11 Jun	Mar 2025Filed 13 Jun	Mar 2026Filed 30 May
	525	569	642	761	887	1,038	1,215
Share capital	13	13	13	13	26	26	26
Reserves	512	556	629	748	861	1,012	1,189
	58	46	46	24	23	22	0
Repayable after a year	58	46	31	23	22	21	0
Repayable within a year	0	0	14	1	1	1	0
	269	265	337	233	281	334	399
Trade payables	167	172	261	165	190	231	286
Other financial liabilities	62	51	23	26	32	39	40
Other liabilities	34	36	30	32	49	57	58
Provisions	4	4	5	10	9	6	12
Tax owed	1	2	4	0	0	1	2
	126	88	69	58	50	51	87
Other financial liabilities	25	–	–	0	–	–	61
Provisions	6	5	5	13	7	8	12
Deferred tax	37	36	33	22	22	23	15
Total assets	920	922	1,049	1,053	1,218	1,424	1,701
	636	595	528	521	525	598	661
Plant in use, after depreciation	585	544	507	492	493	550	600
Plant being built	0	3	1	5	5	20	15
Intangible assets	5	3	1	2	2	3	4
Investments	0	21	0	0	0	0	0
Stakes in joint ventures and associates	21	–	0	0	0	0	0
Loans given	9	10	1	1	0	0	1
Other financial assets	6	2	10	11	12	17	19
Deferred tax	1	1	1	2	5	5	5
Trade receivables	1	5	2	0	–	0	0
Other assets	6	7	5	7	7	3	17
	285	327	520	532	694	825	1,040
Inventories	129	117	185	176	204	233	267
Trade receivables	77	81	175	141	194	242	388
Cash and cash equivalents	47	110	68	183	206	298	279
Other bank balances	1	0	0	0	0	0	0
Current investments	0	0	76	0	0	0	0
Loans given	0	0	1	1	1	0	1
Other financial assets	11	2	1	7	57	15	58
Tax paid in advance	0	–	–	–	0	0	–
Other assets	20	16	14	25	32	36	47
Net debt	11	−64	−99	−159	−183	−276	−280

Borrowings are counted again inside the liabilities due within a year and after a year. No balance sheet is on record for the years to Mar 2017, Mar 2018 and Mar 2019, so its lines and the ratios worked from it are blank there.

Cash flow

Consolidated, ₹ crore, years to March.

₹ crore	Mar 2021Filed 6 Jul	Mar 2022Filed 11 Jun	Mar 2023Filed 30 May	Mar 2024Filed 11 Jun	Mar 2025Filed 13 Jun	Mar 2026Filed 30 May
	136	92	131	135	233	161
	154	128	194	195	301	255
	10	−67	−74	−65	−12	−157
Receivables	−20	−91	29	−52	−44	−149
Inventories	12	−68	9	−29	−29	−33
Payables	5	89	−96	25	41	54
Other working capital	13	3	−16	−9	20	−29
Tax paid	−18	−36	−63	−60	−68	−94
Capital spending	20	19	55	84	130	126
Free cash flow	116	73	76	51	103	35
	−15	−74	39	−69	−86	−97
Plant and property sold	0	0	0	0	1	1
Interest received	2	2	11	15	16	20
	−57	−61	−55	−43	−55	−84
Borrowings repaid	−41	−30	−20	0	0	0
Interest paid	−10	−7	−6	−2	0	0
Lease payments	0	0	0	0	−2	−5
Dividends paid	4	21	26	39	53	79
Shares bought back	0	0	0	0	0	0
Shares issued	0	0	0	0	0	0
Net change in cash	63	−42	114	23	92	−20

Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2017, Mar 2018, Mar 2019 and Mar 2020.

Consolidated, ₹ per share, years to March.Fiem Industries dividend history

₹ per share	Mar 2017	Mar 2018	Mar 2019	Mar 2020Filed 3 Jul	Mar 2021Filed 6 Jul	Mar 2022Filed 11 Jun	Mar 2023Filed 30 May	Mar 2024Filed 11 Jun	Mar 2025Filed 13 Jun	Mar 2026Filed 30 May
	₹13.15	₹19.70	₹21.15	₹28.33	₹17.74	₹35.78	₹53.13	₹62.96	₹77.86	₹97.11
As stated that year	₹26.30	₹39.40	₹42.29	₹56.66	₹35.48	₹71.55	₹106.26	₹62.96	₹77.86	₹97.11
	₹13.15	₹19.70	₹21.15	₹28.33	₹17.74	₹35.78	₹53.13	₹62.96	₹77.86	₹97.11
As stated that year	₹26.30	₹39.40	₹42.29	₹56.66	₹35.48	₹71.55	₹106.26	₹62.96	₹77.86	₹97.11
	₹4.00	₹4.50	₹6.00	₹6.50	₹8.00	₹10.00	₹15.00	₹20.00	₹30.00	₹40.00
As declared that year	₹8.00	₹9.00	₹12.00	₹13.00	₹16.00	₹20.00	₹30.00	₹20.00	₹30.00	₹40.00
	–	–	–	₹199.59	₹216.32	₹244.01	₹289.20	₹336.98	₹394.45	₹461.64
On that year's share count	–	–	–	₹399.19	₹432.64	₹488.03	₹578.40	₹336.98	₹394.45	₹461.64
Dividend payout	31.8%	22.5%	28.4%	22.9%	45.1%	28.0%	28.2%	31.8%	38.5%	41.2%
Shareholder yield	–	–	–	–	0.5%	1.8%	1.3%	1.3%	1.4%	1.6%
Market cap at the year end (₹ crore)	1,268	1,151	670	333	732	1,185	2,061	2,981	3,705	5,029

Every year is restated for later splits and bonuses, so they do not break the line. The figure the company stated that year is under each line it differs from.

Ratios

Consolidated, years to March.Fiem Industries PE ratio and valuation

Ratio	Mar 2017	Mar 2018	Mar 2019	Mar 2020Filed 3 Jul	Mar 2021Filed 6 Jul	Mar 2022Filed 11 Jun	Mar 2023Filed 30 May	Mar 2024Filed 11 Jun	Mar 2025Filed 13 Jun	Mar 2026Filed 30 May
Revenue growth	3.1%	25.1%	13.7%	−4.8%	−11.5%	28.8%	17.5%	9.8%	19.4%	16.2%
Operating profit growth	−7.5%	19.5%	11.7%	−0.2%	−14.7%	45.0%	28.2%	8.1%	19.9%	22.9%
Net profit growth	−42.2%	58.7%	5.9%	34.0%	−37.4%	101.7%	48.5%	18.5%	23.7%	24.7%
Earnings per share growth	–	49.8%	7.3%	34.0%	−37.4%	101.7%	48.5%	18.5%	23.7%	24.7%
	–	–	–	14.2%	8.5%	15.5%	19.9%	20.1%	21.3%	22.7%
	–	–	–	–	−5.7 pts	7.0 pts	4.4 pts	0.2 pts	1.2 pts	1.4 pts
From the net margin	–	–	–	–	−4.2 pts	4.8 pts	4.1 pts	1.6 pts	0.7 pts	1.6 pts
From asset turnover	–	–	–	–	−1.2 pts	2.7 pts	2.0 pts	0.3 pts	0.6 pts	−0.4 pts
From borrowing	–	–	–	–	−0.3 pts	−0.5 pts	−1.7 pts	−1.7 pts	−0.1 pts	0.2 pts
Return on capital employed	–	–	–	17.8%	12.4%	19.6%	23.6%	23.1%	24.3%	26.6%
Cash conversion	–	–	–	–	291.2%	98.0%	93.6%	81.4%	113.7%	63.1%
Interest cover	3.4	4.2	4.9	5.9	6.6	15.7	24.9	71.5	167.1	116.1
Debt to equity	–	–	–	0.11	0.08	0.07	0.03	0.03	0.02	0.00
Receivable days	–	–	–	20	24	41	28	35	37	50
Inventory days	–	–	–	56	57	68	57	60	57	57
Payable days	–	–	–	73	83	97	53	56	56	61
Cash conversion cycle, days	–	–	–	4	−3	12	31	39	37	46
Working capital days	–	–	–	−9	−15	12	23	37	29	47
Asset turnover	–	–	–	1.50	1.33	1.60	1.76	1.79	1.83	1.80
Assets per rupee of net worth	–	–	–	1.75	1.68	1.63	1.50	1.38	1.37	1.39
Sales per rupee of plant	–	–	–	2.36	2.24	3.10	3.76	4.11	4.40	4.69
Capital spending to depreciation	–	–	–	–	0.35	0.33	0.87	1.44	2.02	1.74
Plant being built, % of plant in use	–	–	–	0.0%	0.5%	0.1%	1.1%	1.1%	3.7%	2.5%

No balance sheet is on record for the years to Mar 2017, Mar 2018 and Mar 2019, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Consolidated: the company and its subsidiaries together. Each window ends with the year to Mar 2026.

Return on assets, latest year: 16.4%
Cash from operations against operating profit: 40.7%

Measure	10 years	5 years	3 years
Revenue growth, yearly rate	11.0%	18.2%	15.1%
Profit growth, yearly rate	16.1%	40.5%	22.3%
Return on equity, average	–	19.9%	21.4%
Return on capital employed, average	–	23.4%	24.7%
Operating margin, average	12.2%	13.3%	13.5%
Net margin, average	6.0%	7.9%	8.6%
Asset turnover, average	–	1.76	1.81
Cash conversion cycle, days, average	–	33	41
Interest cover, average	42.0	79.1	118.2
Debt to equity, average	–	0.03	0.02

Where the cash came from and went

Consolidated: the company and its subsidiaries together. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore	5 years	3 years	Latest year
Cash from operations	752	529	161
Cash from investing	−287	−252	−97
Cash from financing	−298	−182	−84
Capital spending	414	340	126
Dividends paid	218	171	79
Shares bought back	0	0	0
Shares issued for cash	0	0	0
Borrowings raised	0	0	0
Borrowings repaid	51	0	0

Accounting checks

Consolidated, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

Check	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9	–	–	–	–	–	7	8	6	8	7
Altman Z-scorePublished threshold 1.81	–	–	–	3.18	3.77	4.73	7.94	9.07	9.52	9.97
Beneish M-scorePublished threshold −1.78	–	–	–	–	−3.01	−1.74	−2.36	−2.07	−2.21	−1.71
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	–	–	–	–	−8.02	7.68	−2.81	8.76	4.36	12.26
Cash from operations to profit, 3 yearsPublished threshold 0.7 times	–	–	–	–	–	–	1.28	0.90	0.98	0.85
Receivables growth less revenue growthOur threshold 0 percentage points	–	–	–	–	16.52	87.16	−36.90	27.81	5.69	43.67
Inventory growth less cost-of-goods growthOur threshold 0 percentage points	–	–	–	–	0.78	27.29	−19.63	6.48	−6.66	0.48
Other current assets growth less revenue growthOur threshold 5 per cent of revenue	–	–	–	–	−1.04	−0.17	0.89	2.81	−1.57	1.93
Assets under construction, years of additionsOur threshold 2 years of additions	–	–	–	–	0.17	0.03	0.11	0.09	0.17	0.12
Effective tax ratePublished threshold 17.16 per cent	27.60	35.56	34.90	9.40	27.77	26.10	25.84	25.66	25.81	25.14
Tax charged less tax paid, % of profitOur threshold 10 percentage points	–	–	–	–	–	−1.78	−7.74	−1.22	1.04	−2.32

A threshold marked as ours has no published figure; it is the line we read the check against.