2

Summary

Company

Auto
Components

LED

Financials
3
• Fiem Industries Ltd. (FIEM) was founded and incorporated in 1989 by Dr. J.K. Jain.
• The Company was listed on BSE and NSE in 2006.
• FIEM is one of the leading manufacturers of Automotive Lighting & Signalling Equipments and Rear
Overview View Mirrors in India. FIEM is among first companies in India introducing LED lights in two wheelers.
• FIEM has diversified its product portfolio by entering into LED luminaires for Indoor and Outdoor
applications and Integrated Passenger Information System for Railways & Buses.

Automotive Division LED Division Integrated Passenger

• LED luminaires for indoor Information Systems with LED
• Automotive Lamps - Head
and outdoor applications Display (IPIS) for:
lamps, Tail Lamps, Blinker
lamps, Fog lamps etc. • LED Bulbs • Buses
• Rear View Mirrors • LED Tubes • Railways
Products
• Sheet Metal Parts • LED Down lights • Metros
• Plastic Moulded Parts • LED Street Lights • Airports
• Solar Based LED Street
lights
• Solar Based LED Lantern
• Two Wheeler Segment – Honda, TVS, Suzuki, Yamaha, Mahindra, Harley Davidson etc.
Top Clients • Four Wheeler Segment - Tata Motors, Force Motors, Honda Siel, GM, Hyundai, Daimler,
Mahindra Reva etc.

Consolidated • Total Income has grown from INR 2,967mn in FY10 to INR 6,068mn in FY13 at 3 year CAGR of 26.9%
Financial • EBITDA has grown from INR 282mn in FY10 to INR 707mn in FY13 at a 3 year CAGR of 35.8%
Performance • Net Profit has grown from INR 106mn in FY10 to INR 277mn in FY13 at a 3 year CAGR of 37.9%
4

Summary

Company

Auto
Components

LED

Financials
5

• The Company was originally incorporated in India as Rahul Auto Private FY13 Revenue Product Mix
Limited on February 6, 1989 in New Delhi and was founded by Dr. J.K.
Jain, a first generation entrepreneur. Sheet Metal LED Products
part, 3% & Others, 3%
• FIEM is one of the leading manufacturers of automotive lighting &
Mirrors,
signalling equipments and rear view mirrors in India. Its major business 13%
comes from the two-wheeler segment of the vehicle industry. Plastic
Moulded, Auto
• FIEM has a diversified product portfolio ranging from head lamps, tail 10% Lamps,
lamps, signalling lamps, roof lamps, rear view mirrors, wheel covers, 71%
warning triangles, complete rear fender assembly, frame assembly,
mudguards, various automobile sheet metal and plastic parts.

• FIEM has already diversified its product portfolio by venturing into LED
Luminaires for Indoor and Outdoor applications and Integrated Geographical Revenue Breakup
Passenger Information Systems with LED Display. INR Mn
6,000 5,655
• The Company is fully equipped with world class R&D and testing facility 5,088
and has developed in-house capabilities in LED technology and 5,000
3,995
manufacturing. 4,000
3,000
• Outside India, the Company has one Wholly owned Subsidiary & one J.V.
Company 2,000

• Wholly Owned Subsidiary - Fiem Industries Japan Co., Ltd. 1,000 253 231 376
• JV Company - Centro Ricerche Fiem Horustech SRL, Italy -
FY11 FY12 FY13
Domestic Exports
6

Dr. J. K. Jain, Chairman & Managing Director

• He is the founder of the Company and is a first generation entrepreneur. He has rich
experience over 40 years and is one of the pioneers in the Automotive Lighting Industry in
India. He has commenced his business journey since 1970 as a small scale industry and
today with his true vision and hard work the company has grown multifold with 8 state-of-
art manufacturing facilities in different locations in the North and the South of India. He has
emerged as a major leader in the automotive component industry.

Mrs. Seema Jain, Whole-time Director

• She belongs to Business family and was involved in her family business activities right from
her college days. Holding B.Sc. Degree from Delhi University with long relevant experience.
Actively involved in decision making in the Company besides oversees Finance Functions.

Mr. Rahul Jain, Whole-time Director

• He has done Masters in Business Management from London. He is mainly involved in
strategic affairs and Corporate Planning besides close interaction with customer for total
customer satisfaction and initiative for new projects. He also oversee the manufacturing
operations of various units periodically.

Ms. Aanchal Jain, Whole-time Director

• She has done her Masters in Business Administration in Human Resource & Management
from USA. She takes care of Human Resource Management functions of the Company and is
also actively involved in Skill Development and Labour Welfare Programme in the Company.
7

Mr. J.S. S. Rao – Whole-time Director

• He has an overall experience of over 30 years in automotive lighting and components
industry involving manufacturing, operational & business strategic functions. He is on the
board of the company and presently responsible for the overseas and South India
operations of the Company.

Mr. Kashi Ram Yadav – Whole-time Director

• He has more than 30 years experience in production & manufacturing operations of
automotive lightings, signalling equipments and rear view mirrors. He is on the board of
the company and responsible for production and manufacturing operations in North India
Units of the Company.

Mr. Rajesh Sharma - Executive Director

• He is having an experience of more than 30 years in the fields of Marketing, Sales and
new product developments, majorly in Automotive Lighting and Rear View Mirrors along
with other Auto Components. Presently, he is heading Marketing and New Business
Development (OEMs).

Mr. Vijay Kumar Jain - Executive Director

• Having 42 years of experience with specialization in R&D, planning and procurement
which includes 22 years of experience in auto-component manufacturing like Switches,
Lighting, Locks, Horns, Wiring harness, Die Casting, panel instrument, battery, CNG/LPG
kits etc.
8

• He is having experience of over 26 • With 13 Years experience in • Has been working in the field of
years in the fields of accounts, secretarial & legal field, he is marketing and sales in the Lighting
finance and taxation. He is a responsible for secretarial, legal and Industry for last 18 years with
member of the ICAI, ICSI and corporate compliance matters of emphasis on LED lighting since last
ICWAI. He is responsible for the Company. He is an Associate 5 years. Vast experience in
financial planning, budgeting, Member of Institute of Company Institutional and Industrial sales
taxation, fund management and Secretaries of India and LLB from especially in Defence , Railways,
financial reporting functions in the Delhi University DGS&D, PSU’s, Government
company bodies and large size Projects

Mr. O.P. Gupta - Mr. Arvind K. Mr. Sunil Kaul –Head-

Chief Financial Chauhan - Planning and Sales
Officer Company Secretary (LED Division)

• He has over 30 years of • He is having more than 22 years • He is having an experience of more
experience, in Electronics & experience in electronic products than 30years in the field of R&D in
Electrical industry. He is BE in industry with special focus on LED Automotive Components, with major
E&C Engg. and has vast lighting and has worked with focus in testing evaluation and
experience of new product Industry leaders like Harris homologation. Presently he is looking
development. He is heading the Semiconductor, Everlight after testing, products validation and
product development for LED Electronics and Onida. He has rich homologation etc.
Luminaires and Integrated experience in product
Passenger Information Systems. development and marketing.

Mr. G.V. George –

Mr. R.K. Bansal-
Mr. Avnish Jauhari - Head (Product
Head (Electronics &
Sales Head (IPIS) Validation
Electrical)
&Homologation)
9

2013 - 2014
• 2013 - Entered into
2008-2012 a 50:50 JV with
• 2010 - Started a Horustech Lighting
2001-2007 manufacturing Unit of Italy for setting
in Rai, Sonepat up a design centre
• 2004 &2005- setup
1994-2000 (Unit 7) • 2013 - Vendor
mfg facilities in
• 2011 – Setup registration
• 1994-A new state Hosur (Unit 2&3)
1989-1993 facility for mfg received from RDSO
of art Plant was Mysore (Unit 4)
Plastic moulded for Integrated LED
• 1989- established at • 2005 & 2006 – setup Passenger
Incorporated as parts in Tapukara
Kundli, Sonepat mfg facilities Hosur Information System
Rahul Auto (Unit 8)
(Unit 1) (Unit 5), Nalagarh
• 2011 – FIEM R&D • 2014 – MOU with
Private Limited • 1996- Fiem Sung (Unit 6)
Centre approved by two Japanese
• 1992-Name San (India) Ltd., a • 2006 – Initial Public companies Honda
changed to Fiem Govt. of India
JV Company was Offering Lock Mfg. Co. and
Industries Pvt. established • 2012- Started
• 2007 – Setup LED Toyota Tsusho
Ltd. manufacturing auto
• 1998- Multi Focal SMT plant Corporation, for
• 1993- Converted lamps and
Reflector first time • 2007-Merged Fiem components for mfg of Key Sets,
into Public introduced in India Sung San with Fiem Door Mirrors and
Limited-Fiem Honda Japan
by FIEM Industries Outside Handles
Industries Limited
10
11

Unit - 1 Kundli, Sonepat, Unit - 2 Hosur, Tamil Nadu Unit - 3 Hosur, Tamil Nadu Unit - 4 Mysore, Karnataka
Haryana • Established in 2004 • Established in 2005 • Established in 2005
• Established in 1994 • Land 12,505 Sq. Mtrs. • Land 19,110 Sq. Mtrs. • Land 4,014 Sq. Mtrs.
• Land 16,588 Sq. Mtrs. • Products Mfg. - • Products Mfg. – Sheet • Products Mfg. - Rear
• Products Mfg. - Rear View Automotive Lights, Reflex Metal parts Fender Assembly
Mirrors, Automotive Lights. Reflectors

Unit - 5 Hosur, Tamil Nadu Unit – 6 Nalagarh, Himachal Unit 7 – Rai, Sonepat, Haryana Unit 8 – Tapukara, Rajasthan
• Established in 2006 Pradesh • Established in 2010 • Established in 2011
• Land 13,467 Sq. Mtrs. • Established in 2006 • Land 28,357 Sq. Mtrs. • Land 42,863 Sq. Mtrs.
• Products Mfg.- Rear View • Land 19,191 Sq. Mtrs. • Corporate Office • Products Mfg. – Plastic
Mirrors, Automotive Lights • Products Mfg. – Rear View • Products Mfg – Automotive Injection moulded
Mirrors, Automotive Lights, Lights, LED Lights components, LED lights
Plastic Parts
 12
• FIEM’s state of the art R&D Unit offers its clients design and development capabilities in Automotive Lighting &
Signalling Equipments and Rear View Mirrors which meet the specifications of the clients requirements.
• Government of India, Ministry of Science and Technology, Department of Science and Industrial Research has
accorded Recognition to Company’s in-house R&D Unit situated at Rai Industrial Estate, Sonepat
• The Company’s R&D Unit is established with modern infrastructure, state-of-the-art technology, equipped with latest
software, qualified and experienced manpower.
• FIEM’s in-house R&D unit does various kinds of testing such as Product Testing, Photometry Testing, Environmental
Testing, Thermal Tests, Electronic Test, Vibration Test, Chemical Test, Mechanical Tests etc.
• Some examples of R&D conducted by company:
• Developed more than 100 new generation LED Luminaires for industrial & domestic applications for Indoor and
Outdoor including LED drivers
• In-house design and development of Railway IPIS (Integrated Passenger Information Systems with LED Display )
• In-house design and development for four wheeler LED Rear combination, LED direction indicator lamp etc.
• Advantages of in-house R&D unit:
• Diversified and large portfolio of lighting products developed
• New generation LED technology in automotive and home lighting segments developed
• Reduction in development time and cost savings to clients

Electrical Testing Environmental Testing Light Simulation Test Mechanical Durability Test
13

Strong Client Base

• FIEM has a strong client base of more than 50 OEMs and is supplying to its prestigious customers since their inception.
• Significant market share for supply of automotive lighting & signalling equipments and rear view mirrors to Two-wheeler and Four-
wheeler OEM's
• Exporting automotive lighting to Honda Japan, Kubota Japan (Tractors & Farm equipments) besides exporting to Austria, UK, Germany,
Thailand, Indonesia & Vietnam.

Manufacturing Edge...Cost Saving to the Customers

• State-of-the-art manufacturing facilities located close to the OEM Customers offering Logistic cost saving and just in-time delivery
• FIEM has three world class R&D centres located in India, Italy and Japan having more than 120 personnel in Designing, Optical
Simulation and Guest Engineering facilities for development of the lamp assembly and LED luminaires as per Indian and Global
standards
• Strategic technological tie ups with global players to provide advance and cost efficient products

Diversified Product Portfolio Up-Coming Ventures

• Leading manufacturers of automotive lighting & signalling equipments and rear
• Signed MOU with Honda Locks Mfg. Co. Ltd.
view mirrors for two and four wheelers
Japan and Toyota Tsusho Corporation, Japan
• Diversified into LED luminaires for indoor and outdoor applications for a joint venture proposal in India for
• Also diversified into Integrated Passenger Information Systems with LED Display manufacturing of Key Sets, Door Mirrors and
(IPIS) Outside Handles. These companies are group
companies of Japanese conglomerates
Honda and Toyota respectively. The Key Sets
LED Products will be for four-wheeler as well as for two-
• In-house LED R&D, manufacturing and assembly unit offering low cost and high wheeler vehicles.
quality LED luminaires • MOU signed with Yamato Industrial Co. Ltd.,
• Diverse and cost efficient range of indoor and outdoor LED luminaires Japan for manufacturing of automotive parts,
i.e., Control Cables, Pipes, Resin Dies, Throttle
• Approval from Ministry of Railway (RDSO) for Integrated Passenger Information
Wires, Sensors & Switches etc.
System
14
MORE THAN 50+ AWARDS SINCE 1991
• Bronze Award for Excellence in Quality for 2013 from India Yamaha Motor Pvt. Ltd.-2014
• ESQR’S Quality Achievement Award 2013 in the GOLD CATEGORY for the Extra Ordinary achievement
in quality management - 2013
• Manufacturing Today Award “Champion of Indian Manufacturing” for Small and Medium Enterprise -
2013
• Achievement Award for Vendor Performance in the field of 'Development' in the year 2012-13 from
Suzuki Motor Cycle India Private Limited-2013
• Achievement Award for Honda Global Support for 2012-13 from Honda Motorcycle & Scooter India
Ltd. 2013
• 1st Prize for Entrepreneurial Excellence Award in Electronics 2012-13 from ELCINA for LED-Luminaires
& Display-2013
• Achievement Award for Delivery Management for 2011-2012 from Honda Motorcycle & Scooter India
Ltd - 2012
• Award for Q.D Performance from Honda Motorcycle & Scooter India Ltd-2011
• Outstanding Entrepreneurship Award from Enterprise Asia.-2011
• National Achievement Award for Business Excellence from Indian Society for Industry & Intellectual
Development -2010
• Grand Award for Development from Honda Motorcycle & Scooter India Ltd.-2009
• SMB Award for superior performance during 2007-2008 from Industry 2 Magazine.-2009
• Appreciation Certificate from Hyundai Motor India Ltd. -2009
• Transworld Gold Star Award from International Study Cycle-2006
15

Government Approved R&D Center Approval from Ministry of Railway

MNRE Approved Solar Lantern Approval from PWD, Haryana for LED products
16

Auto Monitor – Fiem adds Honda Japan as client Economic Times (15/8/13)- Dr. JK Jain success story

Economic Times (25/9/12)- ELCINA award

17

Summary

Company

Auto
Components

LED

Financials
 18
FIEM is one of the most renowned names in Automotive Lightings & Automotive Light Contribution
Signalling Equipments with the history of around four decades. The
company is associated with some of the most prestigious OEM customers INR Mn
5,000 4,707
in India. 4,177
• Automotive Lighting - In the automotive components segment the 4,000 3,473
Company makes various types of Head lamps, Tail Lamps, Blinker
3,000
lamps, Fog lamps, Warning triangles, Interior lamps and Beacon lights 2,436
etc. for Two Wheelers and Four Wheelers. 2,000

1,000
• Manufacturing Facilities for Automotive Lights:
• Unit 1 - Kundli, Sonepat, Haryana -
FY10 FY11 FY12 FY13
• Unit 2 - Hosur, Tamil Nadu
• Unit 5 - Hosur, Tamil Nadu Head and Rear Lamps
• Unit 6 - Nalagarh, Himachal Pradesh
• Unit 7 – Rai, Sonepat, Haryana

• Top Clients
19
 20
• Rear-View Mirror – FIEM has four state-of-the-art mirror manufacturing Rear View Mirror Contribution
plants in its different units having all the processes in-house which
includes: INR Mn
 Mirror Plate Making - Profile cutting, Washing, Grinding, Convexing, 1,000
900 866
Cleaning, Aluminium coating/Chrome coating and finally back side 765
800
painting.
700 632
 Plastic Housing: In-house manufacturing with injection moulding
600
machines. 469
500
 Rod Making: In-house complete rod making facilities such as 400
machining, bending, welding, powder coating etc. 300
 Final Assembly: All the above sub-components are assembled in the 200
assembly lines to make the complete mirror assembly. 100
-
• Manufacturing Facilities for Rear View Mirrors: FY10 FY11 FY12 FY13
• Unit 1 - Kundli, Sonepat, Haryana Rear View Mirrors
• Unit 2 - Hosur, Tamil Nadu
• Unit 5 - Hosur, Tamil Nadu
• Unit 6 - Nalagarh, Himachal Pradesh

• Top Clients
 21
• Plastic Moulded Parts – Plastic moulding is integral part of automotive Plastic Molded Parts Contribution
lamps as well as rear view mirrors, as these parts are required to make
final assembly of all the products. INR Mn
700 663
• FIEM has installed world class more than 450 latest injection moulding
600
machines in their six plants ranging from 50 tonnes to 1400 tonnes
capable of making 20 gms to 2.5 kgs of components. 500 442
400
• Apart from above, FIEM also supply standalone plastic moulded parts to
its customers from Unit 2 and Unit 7. 300

• The above mentioned moulding machines can easily make even big 200
120
products of two wheelers like front fender, floor panel, side cover, rear 100
fender, handle bar, seat base etc. etc. -
FY11 FY12 FY13

• Manufacturing Facilities for Standalone Plastic Moulded Parts: Plastic Molded Parts
• Unit 2 - Hosur, Tamil Nadu
• Unit 8 - Tapukara, Rajasthan
• Top Clients
 22

• Sheet Metal Parts – FIEM has full fledged sheet metal fabrication Sheet Metal Parts Contribution
facilities as well as Mudguard rolling plants for manufacturing Front and
Rear mudguard for Motorcycles & Mopeds. The fabrication facility have INR Mn
250
the following in-house processes:
• Presses: More than 50 presses such as hydraulic, double action 183 192
200 174
deep draw, single action presses etc.
• Rolling Plant 150
115
• Pipe Bending
100
• Spot welding, Projection welding, Argon welding, CO2 welding etc.
• Zink Plating: Blue/Black passivation, Yellow passivation 50
• Phosphating facilities
-
• Powder Coating for base coat and top coat FY10 FY11 FY12 FY13

• Manufacturing Facility used for making Sheet Metal Parts Sheet Metal Parts

• Unit 3 - Hosur, Tamil Nadu

• Unit 6 – Nalagargh, Himachal Pradesh

• Top Clients
 23
• In 2012, FIEM commenced their supplies to Honda Japan for
Honda Integra 4-670CC
670cc Integra-4 Motorcycle which includes all lamps such as
Head lamps, RC Lamps, Blinker lights etc. and become global
supplier to Honda.
• FIEM also supplying through Honda Trading to Honda
Vietnam and Honda Thailand.
• The component for supplying to Honda Motorcycle is
developed by FIEM’s in-house design and development
center.
Parts Manufactured for Honda Japan
Honda Award for Global Support Supplier
2012-13
24

Two wheeler segment (Domestic)- FY13 Top Clientele Contribution

1.50% 11.50%
4.00%

40.00%
12.00%

Two wheeler segment (Global Customers)

31.00%

Four wheeler segment (Domestic)-

Honda Motor Cycle TVS Motor

Replacement Market Suzuki Motorcycle India

Mahindra Two wheeler Other Customers

Four wheeler segment (Global Customers)-

25

Summary

Company

Auto
Components

LED

Financials
26

• After strengthening its position in the Automotive Industry, FIEM has already LED Luminairies
diversified into two more additional segments:
• LED luminaires for indoor and outdoor applications
• Integrated Passenger Information Systems with LED Display for
Railways and Buses

• FIEM has in-house R&D and manufacturing facilities for LEDs in Rai, Sonepat,
Haryana. The Company only imports LED chips and electrical component and
rest of the LED luminaires parts are manufactured in-house including the
most crucial part i.e. LED Drivers. LED Passenger Info Display System

• Company has already developed more than 100 products and developing
more & more LED luminaires to attain significant market share

• Benefits of Fiem Technology for LED

• Strong R&D and development team consisting 100 engineers having
experience of more than a decade
• Govt. approved R&D center
• PCB circuit designing LED Solar Lantern
• Cost and Energy Efficient designs
• Structural product designing
• Innovative optical designing, thermal simulation to achieve higher
efficiency
• Complete SMT plant installed a decade ago
• Strong team for OEM and after market service
 27
FIEM manufactures the following types of LED Luminaires:
Indoor LED Lights
• LED Bulbs
• LED Tubes Ceiling Lights
• LED Ceiling Lights
• LED Down Lights
• LED Solar Lanterns
• LED Torches LED Tubes LED Bulbs LED Torches Down Lights
• Applications - Commercial, Industrial, Residential and other buildings such as Showrooms, Offices & Bank, Malls,
Factories, Industrial shed, Warehouses, Residential Houses/Flats etc. LED Torches have safety features like glass
breaking, seat belt cutter and warning lights which helps the vehicle driver during emergency
• Outdoor LED Lights
• LED Bay Lights
• LED Street Lights
• LED Spot Lights
• LED Park Lights
• LED Flood Lights
• Bollards LED Park Lights LED Street Lights LED Flood Lights Bollards
•Applications - Roads, Highways, Tunnels, Open spaces in the building compounds such as Farm houses, Amusement
parks, Hotels, Banquets, Gardens & parks, Residential apartments, Institutional & Industrial compounds etc.
28

Fiem LED CFL Incandescent Bulbs

Life Expectancy >35,000hrs 8,000hrs 1,200hrs

Watt 7watts 13-15watts 60watt

Kwh of electricity
350 700 3,000
used in 50,000hrs

Hazardous
None 5mg mercury/bulb None
Material
Color Rendition Wide range of color Restricted color Restricted color

Dimmability Yes Restricted Possibility Yes

Robustness Breakable Sensitive Sensitive

Start up time Instant Delay Instant

Disposal Via Landfill As per guidelines Via Landfill

Light Efficiency 620lum/7=90 Im/wtt 620/15=53 Im/wtt 620/60=13 Im/wtt

Maintenance Negligible High High

29
• Integrated Passenger Information System with LED Display (IPIS or PIDS) is an LED Integrated Passenger Information System
electronic information system which provides real-time passenger
Railway
information.
• Passenger information delivered in relevant locations along the bus route is an
important part of this strategy and FIEM has played a key role in helping its
partners deliver an effective solution.
• Company has successfully installed this Passenger Information System in many
DTC buses in Delhi operating at different routes and has also installed the
same in many of the school buses of Delhi Public School, GD Goenka School,
PP international school, Dynasty International School, Manav Rachna
International School etc.
• Association of State Road Transport Undertakings has also inspected the
Company’s LED based Destination system and found it satisfactory.
• Also received approval for Integrated Passenger Information System with LED
Display (IPIS) from Ministry of Railways - Research Design and Standard Buses
Organization (RDSO) for manufacture and supply of this system (consisting of
Train indication, Coach Guidance & PC based announcement).
• FIEM is looking for big business opportunities from Railways, Central & State
Government, Metro, Overseas Market etc.

LED Display Panel

 30
LED Industry Glimpse:
• India is emerging as a very big market for LEDs. However, being a price sensitive market, it is expected to witness
significant increase in penetration, as LED luminaires prices go down the price ladder.
• LED switching offers the following benefits to our country :
• INR 1350 billion savings in reduced electricity cost
• 95 million tons of CO2-or the equivalent of 91 power plants
• Offering billions of INR saving in reduced need for power infrastructure
• Virtually making this an economic necessity in these times of national budget deficits
• Potential Saving across different segments :
• Street Lights (Potential of up to 50% savings)
• Street Lights with Fluorescent lamps: 2.5 Crore (Nos.)
• Street Lights with HID, Gas Discharge lamps: 22.5 Lakh (Nos.)
• Down Lights (Potential of up to 80% savings)
• Estimated Retail outlets with GLS/CFL points: 50 Lakh (Nos.)
• Estimated points, with average 6 DLs per outlet: 3.0 Crore (Nos.)
• Home users (Retrofit LED lamps)
• Government procurement under RGGVY per annum: 3.5 Crore (Nos.)
• Other Government DSM and CDM schemes: > 10.0 Crore (Nos.)

Source: Presentation of Nirupam Sahay, President, ELCOMA, 18 December, 2013

 31

LED lighting is transforming the entire landscape of the Lighting Industry and as per
estimates LED will constitute around 75% of the lighting in 2020.

Expected Industry Growth

INR Crs
12,000
7%
10,460
10,000
2008

93% 8,000
7,560

6,000
5,500
4,662
4,000 4,110
25%
2,989
2,000 1,925
2020 1,250
-
75%
2012 2013 2014 2015 2016
Early Estimates Revised Estimates

Conventional lighting LED lighting

Source: Presentation of Nirupam Sahay, President, ELCOMA, 18 December, 2013
32

Summary

Company

Auto
Components

LED

Financials
33

Particulars (INR Mn) FY11 FY12 FY13

Total Income* 4,279 5,354 6,068

Expenses 3,900 4,675 5,361

EBITDA 379 680 707

EBITDA Margin 8.85% 12.70% 11.65%

Depreciation & Amortization 130 169 183

Finance Cost 95 208 130

PBT 154 303 394

Taxes 43 92 116

PAT 111 211 277

PAT Margin 2.59% 3.95% 4.57%

EPS 9.25 17.67 23.17

* Includes Other Income

34
Particulars (INR Mn) FY12 FY13 Particulars (INR Mn) FY12 FY13
Shareholder Funds Non Current Asset
Share Capital – Equity 120 120 Tangible Asset 2,806 2,916
Reserves & Surplus 1,318 1,561 Intangible Asset 10 11
Total - Shareholder Funds 1,438 1,681 Capital Work in Progress 14 15
Non Current Liabilities
Non Current Investment 0 0
Long term Borrowings 950 762
Long Term Loans and Advances 70 79
Deferred Tax Liability (net) 193 242
Other Non Current Assets 1 1
Other Long term Liability 26 17
Total Non Current Assets 2,900 3,021
Long Term Provision 6 8
Total Non Current Liabilities Current Assets
1,175 1,029
Inventories 460 487
Current Liabilities
Short-Term Borrowings 442 304 Trade Receivable 669 693
Trade Payables 647 751 Cash and Bank Balance 55 16
Other Current Liabilities 430 495 Short Term loans and Advances 99 110
Short-term provisions 53 74 Other Current Assets 2 5
Total Current Liabilities 1,572 1,623 Total Current Assets 1,284 1,311
GRAND TOTAL 4,184 4,333 GRAND TOTAL 4,184 4,333
Cash Flow (INR Mn) FY11 FY12 FY13
Cash and Cash Equivalents at Beginning of the year 15 47 55
Cash Flow From Operating Activities 187 488 711
Cash Flow from Investing Activities (784) (542) (277)
Cash Flow From Financing Activities 629 61 (473)
Net Inc./(Dec.) in Cash and Cash Equivalent 32 7 (39)
Cash and Cash Equivalents at End of the year 47 55 16
35

Particulars (INR Mn) FY11 FY12 FY13 9MFY14

Total Income* 4,213 5,338 6,026 5,200

Expenses 3,831 4,659 5,323 4,566

EBITDA 382 680 702 635

EBITDA Margin 9.1% 12.7% 11.7% 12.2%

Depreciation & Amortization 130 169 183 160

Finance Cost 95 208 129 110

PBT 157 303 389 364

Taxes 43 92 116 110

PAT 114 211 273 254

PAT Margin 2.71% 3.96% 4.53% 4.89%

EPS 9.55 17.68 22.83 21.24

* Includes Other Income
36
Particulars (INR Mn) FY12 FY13 H1FY14 Particulars (INR Mn) FY12 FY13 H1FY14
Shareholder Funds Non Current Asset
Share Capital – Equity 120 120 120 Tangible Asset 2,805 2,916 3,114*
Reserves & Surplus 1,324 1,562 1,713
Intangible Asset 10 11
Total - Shareholder Funds 1,443 1,682 1,833
Capital Work in Progress 14 15
Non Current Liabilities
Non Current Investment 0 0 0
Long term Borrowings 950 762 733
Long Term Loans and Advances 72 81 96
Deferred Tax Liabilities 193 242 258
Other Non Current Assets 1 1 1
Other Long Term Liabilities 26 17 17
Total Non Current Assets 2,902 3,024 3,212
Long Term Provision 6 8 11
Total Non Current Liabilities Current Assets
1,175 1,029 1,019
Inventories 457 487 536
Current Liabilities
Trade Receivable 671 688 741
Short-Term Borrowings 442 304 309
Trade Payables 644 746 824 Cash and Bank Balance 53 15 24

Other Current Liabilities 429 494 625 Short Term loans and Advances 102 109 126

Short-term provisions 53 74 33 Other Current Assets 2 5 3

Total Current Liabilities 1,568 1,617 1,791 Total Current Assets 1,284 1,305 1,431

GRAND TOTAL 4,186 4,328 4,643 GRAND TOTAL 4,186 4,328 4,643

* Total Fixed Assets

37

Total Revenue & EBIDTAM% Net Profit

INR Mn INR Mn
7,000 12.73% 14.00%
6,026 300 273
6,000 5,338 12.00%
11.65% 250
5,000 4,213 10.00% 211
9.56% 9.07% 200
4,000 8.00%
2,950 150
3,000 6.00% 108 114
2,000 4.00% 100
1,000 2.00% 50
- 0.00% -
FY10 FY11 FY12 FY13 FY10 FY11 FY12 FY13

EBITDA Efficiency Ratio

INR Mn ROE ROCE

800 702 20.0%
680 17.43% 17.98%
700
600 15.0% 16.2% 17.7%
12.68%
500 10.40%
382
400 10.0% 11.2% 10.2%
282
300
200 5.0%
100
0 0.0%
FY10 FY11 FY12 FY13 FY10 FY11 FY12 FY13
38

Gross Debt/Equity Book Value Per Share

1.4 1.2x INR
1.2x 140 129
1.2
120 109
1.0 0.9x 94
100
0.8 80
80
0.6x
0.6
60
0.4 40
0.2 20
0.0 -
FY10 FY11 FY12 FY13 FY10 FY11 FY12 FY13

Dividend Per Share Working Capital Days

INR 35 33
4.40 4.0 29
30 26
3.90
3.40 3.0 25
2.90 2.5 2.5 20
2.40 14
1.90 15
1.40 10
0.90
5
0.40
-0.10 0
FY10 FY11 FY12 FY13 FY10 FY11 FY12 FY13
39
Fiem Industries Limited
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information or opinions contained in this presentation. Such information and opinions are in all events not current after the date of this presentation. Certain statements
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the Company’s general business plans and strategy, its future financial condition and growth prospects and future developments in its industry and its competitive and
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For further information please contact : Our Investor Relations Representative:

Mr. Arvind K. Chauhan Mr. Anuj Sonpal

Company Secretary Valorem Advisors
Tel: +91-130-2219172 Tel: +91-22-6673-0036
Email: arvind.chauhan@fiemindustries.com Email: anuj@valoremadvisors.com