Choice Equity Broking has outperform call on FIEM Industries; target price-Rs 2112

Choice Equity Broking Private has outperform call on FIEM Industries with a target price of Rs 2112. The current market price of FIEM Industries is Rs 1687.8.

FIEM Industries, incorporated in the year 1989, is a Small Cap company (having a market cap of Rs 2219.08 Crore) operating in Auto Ancillaries sector.

FIEM Industries key Products/Revenue Segments include Automotive Lamps, Other Operating Revenue, Luminaries, Scrap and Duty Drawback for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 445.52 Crore, down -15.47 % from last quarter Total Income of Rs 527.03 Crore and up 14.35 % from last year same quarter Total Income of Rs 389.59 Crore. Company has reported net profit after tax of Rs 31.92 Crore in latest quarter.

The company’s top management includes Mr.J K Jain, Mr.Ashok Kumar Sharma, Mr.Jawahar Thakur, Mr.V K Malhotra, Mr.Iqbal Singh, Mr.S K Jain, Mr.Mohan Bir Sahni, Mr.Rajesh Sharma, Mr.Kashi Ram Yadav, Ms.Aanchal Jain, Mr.Rahul Jain, Mrs.Seema Jain, Ms.Shobha Khatri. Company has V Sachdeva & Associates as its auditors. As on 31-12-2022, the company has a total of 1 Crore shares outstanding.

Investment Rationale
The brokerage believes lighting as a product will continue to gain traction, driven by an increase in the frequency of model launches and facelifts.

Promoter/FII Holdings
Promoters held 66.56 per cent stake in the company as of 31-Dec-2022, while FIIs owned 5.97 per cent, DIIs 0.93 per cent.