Fiem Industries (FIEMIND) Q4 25/26 earnings summary

Executive summary

• FY26 standalone net sales rose 16.04% to ₹2,790.65 crore and PAT rose 24.36% to ₹253.87 crore; EBITDA margin reached 14.09%.

• Consolidated FY26 revenue from operations was ₹2,815.61 crore and net profit after associate results was ₹255.58 crore.

• Performance was supported by customer demand, operating leverage and the integrated manufacturing model; LED lighting gained share, while the four-wheeler business is positioned to scale.

• Automotive products represented 99.84% of FY26 revenue; the portfolio includes lighting, mirrors, molded parts, sensors and passenger information systems.

Financial highlights

• Q4 FY26 standalone sales were ₹744.35 crore, up 17.44% YoY; PAT rose 22.36% to ₹70.59 crore.

• FY26 standalone revenue from operations was ₹2,814.11 crore versus ₹2,422.20 crore in FY25; net profit was ₹253.88 crore versus ₹204.14 crore.

• FY26 standalone EBITDA was ₹393.34 crore versus ₹320.73 crore in FY25; standalone EPS was ₹96.46 versus ₹77.56, restated on post-bonus share capital basis.

• Consolidated FY26 sales were ₹2,792.1 crore, EBITDA ₹395.9 crore and PAT ₹255.6 crore; Q4 consolidated net profit after associate/JV results was ₹71.03 crore versus ₹58.85 crore.

• FY25 results included ₹3.75 crore exceptional income from an arbitration award related to an insurance claim for the 2018 Unit-5 fire.

Outlook and guidance

• FY27 revenue growth guidance remains 15%-20%, with an EBITDA margin target of 14% or higher; pricing changes are passed through to customers, potentially with a quarterly lag.

• Four-wheeler revenue is guided at ₹100-150 crore in FY27 and ₹200-250 crore in FY28, with a more meaningful financial contribution expected from FY28.

• Four-wheeler orders are ramping gradually; 70% of cited RFQs progressed to the next development phase, not to confirmed orders.

• Current capacity is considered adequate for growth; utilization is 75%, with debottlenecking and investment plans underway.

• Two-wheeler EV adoption is viewed as a significant opportunity, supported by work with major Indian EV OEMs and in-house R&D, design and testing capabilities.