Fiem Industries Ltd

FIEM Industries Ltd is a manufacturer of automotive lighting & signaling equipments and rear view mirrors.

Pros:
Company has reduced debt.
Stock is trading at 1.20 times its book value
Company has been maintaining a healthy dividend payout of 23.78%
Cons:
Promoter's stake has decreased

Peer Comparison Sector: Auto Ancillaries // Industry: Auto Ancillaries

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019
244 291 235 244 291 327 286 335 360 394 333 356
213 255 208 220 260 289 250 299 324 355 296 314
Operating Profit 31 36 26 24 31 38 36 36 36 40 37 42
OPM % 13% 12% 11% 10% 11% 12% 13% 11% 10% 10% 11% 12%
Other Income 0 0 2 -12 2 1 1 4 0 0 0 0
Interest 5 6 6 5 6 6 6 5 5 6 6 6
Depreciation 9 10 10 10 11 11 11 11 12 12 13 12
Profit before tax 17 20 12 -4 16 22 19 25 19 22 19 25
Tax % 31% 31% 27% 55% 35% 34% 35% 38% 34% 33% 33% 38%
Net Profit 11 14 9 -2 10 14 13 15 13 15 13 15
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
166 176 217 293 421 533 601 717 823 985 1,014 1,238 1,444
146 154 198 266 383 465 531 628 721 858 897 1,098 1,289
Operating Profit 20 21 20 27 38 68 70 88 103 127 117 140 155
OPM % 12% 12% 9% 9% 9% 13% 12% 12% 12% 13% 12% 11% 11%
Other Income 4 3 1 1 0 0 0 1 1 1 -9 8 1
Interest 2 2 4 3 10 21 13 14 12 16 23 23 22
Depreciation 5 8 9 9 13 17 18 22 31 33 39 44 49
Profit before tax 18 14 8 16 16 30 39 53 61 79 45 82 85
Tax % 23% 34% 40% 31% 27% 30% 30% 29% 30% 28% 28% 36%
Net Profit 14 9 5 11 11 21 27 37 42 57 33 53 55
EPS in Rs 10.99 7.38 3.43 8.57 9.15 17.19 22.15 30.25 33.91 46.18 24.39 38.30
Dividend Payout % 22% 32% 65% 28% 26% 17% 18% 19% 20% 17% 32% 23%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:21.58%
5 Years:15.55%
3 Years:14.58%
TTM:16.61%
Compounded Profit Growth
10 Years:19.15%
5 Years:12.94%
3 Years:5.97%
TTM:5.59%
Return on Equity
10 Years:14.92%
5 Years:16.09%
3 Years:14.53%
Last Year:11.74%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
12 12 12 12 12 12 12 12 12 12 13 13 13
Reserves 96 102 84 98 114 132 156 185 215 261 397 436 463
Borrowings 30 48 49 54 131 163 134 119 117 140 225 159 131
48 45 82 89 99 112 131 139 158 250 234 327 354
Total Liabilities 186 207 228 253 356 419 434 456 503 663 869 935 962
108 139 137 154 231 282 293 313 334 416 479 554 568
CWIP 11 4 13 25 13 1 1 0 5 12 6 7 8
Investments 6 0 0 0 0 0 0 0 0 1 87 20 28
61 64 77 74 112 137 139 143 164 235 298 354 358
Total Assets 186 207 228 253 356 419 434 456 503 663 869 935 962

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
4 8 23 38 16 52 71 77 82 122 46 124
-45 -30 -14 -35 -78 -54 -28 -41 -59 -108 -198 -45
52 11 -8 -4 63 6 -47 -36 -22 -13 173 -102
Net Cash Flow 10 -11 1 -0 0 4 -4 0 2 0 22 -22

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % 16% 10% 8% 12% 12% 18% 17% 22% 22% 25% 16% 16%
Debtor Days 50 50 55 38 40 46 42 39 38 44 43 42
Inventory Turnover 10.75 8.24 8.73 10.80 12.12 12.14 12.74 15.75 17.57 16.77 12.03 10.21