Fiem Industries (FIEMIND) Q3 25/26 earnings summary

Executive summary

• Q3 FY26 sales rose 16.22% YoY to ₹685.81 crore, EBITDA margin reached a record 14.25%, and PAT increased 33.83% to ₹63.45 crore.

• 9M FY26 sales grew 15.54% to ₹2,046.30 crore and PAT rose 25.16% to ₹183.29 crore.

• Portfolio spans automotive lighting, signalling equipment, rear-view mirrors, LED luminaires and passenger information systems; automotive accounted for 99.77% of Q3 sales.

Financial highlights

• Q3 FY26 EBITDA was ₹97.7 crore versus ₹77.88 crore a year earlier; margin was 14.25% versus 13.2%.

• Standalone Q3 revenue from operations was ₹690.01 crore; profit before tax was ₹84.27 crore and net profit ₹63.45 crore.

• 9M FY26 EBITDA was ₹284.16 crore versus ₹236.92 crore; PAT was ₹183.29 crore versus ₹146.44 crore.

• Consolidated 9M FY26 sales were ₹20,475 mn and EBITDA ₹2,862 mn; PAT after share of associates’ results was ₹1,846 mn.

• Q3 standalone sales were ₹711.42 crore in Q2 FY26; PAT was ₹63.78 crore in Q2.

Outlook and guidance

• Management targets 15%–20% organic growth and aims to outperform industry growth; four-wheeler programs may add growth as they scale.

• EBITDA margin target is 14%+ over the next 24 months, supported by efficiencies and operating leverage; management does not expect 17%–18% margins in the competitive market.

• Mercedes RFQs are expected in the next FY; supplier approval covers small lamps, with an estimated 18-month to two-year development process after RFQs.

• 2W EVs are identified as a growth opportunity, with work for major Indian EV OEMs and product areas including lighting, mirrors and plastic parts.