Q1 2027 Fiem Industries Ltd Earnings Call Transcript
Key Points
- Record Q1 for Indian two-wheeler industry with 7.25 million units, supporting strong demand for FIEM Industries Ltd (BOM:532768)'s products.
- Sales grew 18.6% year-over-year to INR 770 crores, with EBITDA margin stable at 13.5%.
- PBS business achieved 1 million cumulative sales and launched a new model for export to the UK.
- Hero MotoCorp is a fast-growing customer, with plans to supply all Vida lamps for its new Andhra Pradesh plant from next quarter.
- EV segment growth (now 9% of two-wheeler volumes) is boosting LED-intensive lighting content, with new supply agreements for Ather, River, and Royal Enfield EV models.
- Four-wheeler business revenue contribution remains minimal at 2.5%, with guidance pushed out by two quarters due to longer-than-expected customer conversion cycles.
- Raw material costs increased significantly in Q1, with a lag in passing on to customers, impacting margins.
- Employee costs rose sharply due to minimum wage hikes in Haryana, with similar increases expected in other states.
- Yamaha business was flat year-over-year due to lower export volumes and slower sales of certain models like R15 and Aerox.
- LED penetration in lighting has stagnated at 63% over the past seven quarters, with growth expected only gradually over the next 24-30 months.
Ladies and Gentlemen, Good day and welcome to the Q1 FY27 Earnings Conference Call of Fiem Industries Limited hosted by Monarch Network Capital Limited. This conference call may contain forward-looking statements about the company which are based on the beliefs, opinions and expectations of the company as on date of this call.
These statements are not the guarantees of future performance and involved risks and uncertainties that are difficult to predict.(Operator Instructions) I now hand the conference over to Mr. Sahil Sanghvi. Thank you and over to you sir.
Thank you, Anushka. Good evening, everyone. On behalf of Monarch Network Capital, I welcome you all to the Q1 FY27 conference call of CM Industries Limited. We will start the call with the initial comment about the results and the future outlook of the company, and then we will open the floor for questions and answers. Now, I hand over the call to Mr. JK Jain, the Executive Chairman of the company. Over to you, Jain, sir.
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