Fiem Industries Ltd, a key supplier to India’s two-wheeler makers, has reported its strongest quarterly performance to date, supported by rising volumes, operating efficiencies and a favourable product mix.
Founded in 1989, Fiem Industries manufactures automotive lighting and signalling systems, rear-view mirrors and plastic moulded parts. The company has built a strong position in the two-wheeler OEM supply chain and was among the early adopters of LED lighting technology. Its customer base includes TVS Motor, Honda, Yamaha, Suzuki and Royal Enfield.
In the July–September quarter of FY26, revenue rose 17.1% year-on-year to ₹711.4 crore, the highest in the company’s history. Management attributed the growth to robust demand from key OEM customers, particularly TVS, Royal Enfield and Yamaha. Earnings before interest, tax, depreciation and amortisation (EBITDA) increased to ₹99.1 crore, translating into a margin of 13.93%, compared with 13.21% a year earlier. Profit after tax climbed 28% to ₹63.8 crore, marking another quarterly record.
For the first half of FY26, revenue stood at ₹1,360.5 crore, up 15.2% year-on-year, while net profit rose 21% to ₹119.8 crore. Management said margins benefited from higher capacity utilisation, improved plant efficiencies and operating leverage, and expressed confidence in sustaining EBITDA margins in the 13–14% range.
LED products continue to be a key growth driver, accounting for nearly 64% of Fiem’s lighting portfolio, reflecting the industry-wide shift away from halogen systems. The company said new model launches during the quarter supported lighting growth, which remains its core business focus.
Fiem operates nine manufacturing plants and three offices across India and continues to invest in research and testing infrastructure, including an electronics and EMC laboratory and an innovation centre in Gurugram. While a recent fire led to inventory and fixed-asset losses, management said these are insurance-recoverable and have had no impact on revenue or profitability.
