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Fiem: Shrugs off weak Q1; LED to light up the road ahead

Fiem Industries posted a weak set of numbers in Q1 FY21 due to the pandemic-triggered disruption in business activities. Revenues suffered a significant decline on a year-on-year (YoY) basis, while operating profit turned negative.

September 04, 2020 / 01:18 PM IST
Fiem: Shrugs off weak Q1; LED to light up the road ahead

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Fiem Industries (CMP: Rs 597.9, MCAP: Rs 782 crore), the end-to-end lighting solutions provider for automobiles, posted a weak set of numbers in Q1 FY21 due to the pandemic-triggered disruption in business activities. Revenues suffered a significant decline on a year-on-year (YoY) basis, while operating profit turned negative. However, Fiem saw demand picking up smartly once lockdown restrictions were eased. LED-based products could be a key growth driver for the company. At 11 times FY22 earnings, the valuation looks reasonable and investors...

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