Fiem Industries (FIEMIND) Q3 24/25 earnings summary

Executive summary

• Q3 FY2025 standalone sales rose 22.15% YoY to ₹590.10 crore and PAT increased 17.64% to ₹47.41 crore; 9M sales and PAT grew 21.34% and 23.42%, respectively.

• Q3 standalone revenue from operations was ₹593.07 crore and net profit ₹47.42 crore; consolidated revenue was ₹593.09 crore and net profit after JV share ₹47.02 crore.

• 9M standalone total income was ₹1,783.1 crore, EBITDA including other income ₹247.7 crore and PAT ₹146.4 crore; automotive remained the core business.

• Management expects two-wheeler demand momentum to continue into FY2026 and aims to outperform the industry, without giving specific revenue guidance.

Financial highlights

• Q3 standalone revenue from operations was ₹593.07 crore versus ₹486.97 crore in Q3 FY2024; net profit was ₹47.42 crore versus ₹40.30 crore.

• 9M standalone revenue from operations reached ₹1,783.13 crore versus ₹1,470.43 crore; net profit was ₹146.44 crore versus ₹118.65 crore.

• Q3 EBITDA increased to ₹77.88 crore from ₹64.48 crore YoY; EBITDA margin was 13.2% versus 13.35%.

• Consolidated 9M revenue from operations was ₹1,783.19 crore and net profit after JV share ₹146.07 crore; consolidated 9M PBT was ₹198.94 crore.

• CapEx was ₹36.94 crore in Q3 and ₹108.78 crore in 9M FY2025.

Outlook and guidance

• Two-wheeler demand momentum is expected to continue across rural and urban markets into FY2026; management expects positive Q4 growth momentum.

• Management cited a desired growth range of 15%-20%, while emphasizing that it does not provide specific revenue guidance.

• Target EBITDA margin is 13%-13.5% over the next couple of years; no quarter-by-quarter margin guidance was provided.

• FY2025 CapEx is expected at ₹125-150 crore, including ~₹25 crore in Q4; FY2026 CapEx could be ₹75-100 crore, excluding a new greenfield four-wheeler plant.