Earning Call Transcript Q1FY27

August 18, 2026 The Manager, The Manager, Dept. of Corporate Services Listing Department, B S E Limited National Stock Exchange of India Ltd. 25th Floor, P. J. Towers, Dalal Street, Exchange Plaza, Bandra Kurla Complex Fort, Mumbai - 400 001 Bandra (East), Mumbai -400051 [BSE Code: 532768] [NSE Symbol: FIEMIND] Dear Sir, Sub: Q1FY27 Earning Call: Transcript. Ref: Regulation 30(6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (referred herein as Listing Regulations). An Earning Call was held on August 13, 2026, to discuss Operational and Financial performance of the Company for Q1FY27. Pursuant to Regulation 46(2)(oa) of the Listing Regulations, the copy of Transcript of above Earning Call has been made available on the website of the Company under Investors section. The web link of the above Transcript is as under: Link:https://fiemindustries.com/analyst-meet-audio-recording-written-transcript/ Pursuant to Regulation 30(6) read with Schedule III [Part A, Para A, sub-para 15] of the Listing Regulations, copy of the Transcript is also being submitted herewith. This is for your information and records please. Yours faithfully For Fiem Industries Limited Arvind K. Chauhan Company Secretary Encls: A/a Fiem Industries Limited Q1 FY27 Earnings Conference Call August 13, 2026 COMPANY MANAGEMENT - MR.J.K.JAIN–EXECUTIVE CHAIRMAN -MR.RAHUL JAIN-MD - MR. RAJESH SHARMA–JMD - MS.AANCHAL JAIN -JMD - MR. ARVIND CHAUHAN–CS - MR.O.P.GUPTA–CFO - OTHER FINANCE TEAM MEMBERS HOSTED BY MR.SAHIL SANGHVI –MONARCH NETWORTH CAPITAL Page 1 of 16 Fiem Industries Limited August 13, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the Q1 FY '27 Earnings Conference Call of Fiem Industries Limited hosted by Monarch Networth Capital Limited. This conference call may contain forward-looking statements about the company, which are based on the beliefs, opinions and expectations of the company as on date of this call. These statements are not the guarantees of future performance and involve risks and uncertainties that are difficult to predict. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Sahil Sanghvi. Thank you, and over to you, sir. Sahil Sanghvi: Thank you, Anushka. Good evening, everyone. On behalf of Monarch Networth Capital, I welcome you all to the Q1 FY '27 conference call of Fiem Industries Limited. We will start the call with the initial comment about the results and the future outlook of the company, and then we'll open the floor for question and answers. Now I hand over the call to Mr. J.K. Jain, the Executive Chairman of the company. Over to you, Jain sir. J. K. Jain: Thank you. Good afternoon, and welcome to the Q1 FY '27 Earnings Call of Fiem Industries Limited. Joining me on today's call are Rahul Jain, Managing Director; Rajesh Sharma, Joint Managing Director; Aanchal Jain, Joint Managing Director; Arvind Chauhan, Company Secretary; O.P. Gupta, CFO; and other members of the finance team. Our investor presentation and the results are now available on our website and the stock exchange. We trust you must have reviewed the same. Let me start with the broader economic backdrop. Geopolitical conflicts continued trade and tariff tensions remain elevated and the global supply chain faces fresh disturbance. At the same time, we saw significant increase in the input cost and continued pressure from the weaker rupee. Despite these headwinds, the Indian 2-wheeler industries delivered a record first quarter. Industry's volume reached to 7.25 million units, the highest ever for a first quarter. Growth was supported by GST rationalization, India retail financing and strong rural demand, while export and electric vehicles grew even faster. For us, this is an important signal. It demonstrates the underlying strength and resilience of the Indian automotive market even when the global backdrop remains uncertain. Against this backdrop, Fiem has a strong start to FY '27. Our sales grew 18.6% to INR770 crores, while margins remained stable at 13.5%. TVS has an excellent quarter. The iQube crosses 1 million cumulative sales and the second model of the Norton Manx was launched for export to U.K. We are proud to be a part of this program with more projects expected to launch in the coming quarters. Honda remains a valued and long-standing partner. Our business grew in line with their volumes with several new models in pipeline. Hero remains our fast-growing customer with our business growing strongly, led by Vida EV platform. From next quarter, we will supply all Vida lamp for Hero new plant in Andhra Pradesh from our Hosur facility. The recent launch X440, which Hero is exporting to U.S. market also features Fiem front and rear lighting. Now let me turn my attention to the electric vehicle segment. The EV accounts for more than 9% of the 2-wheeler volume in Q1, up from around 6% a year ago. Page 2 of 16 Fiem Industries Limited August 13, 2026 We believe EV adoption is a structural shift and an important opportunity for Fiem because EV platforms typically carry higher LED intensive lighting content. As we are participating across the EV ecosystem during the quarter, we commenced supplies for Ather new model, Konarc. We are also supplying to River for their new launch RX02 model. In addition, we have also commenced supply for Royal Enfield EV Flying Flea model. Our customers have also announced significant enhancement in their capacities. TVS is expanding 2-wheeler capacity from 6.8 million to 8.3 million units by year-end. Hero is tripling Vida's capacity from 15,000 to 45,000 units a month. These investments give us the confidence about the underlying growth opportunity. We are also enhancing our capacity by expanding our Hosur footprint at both our plants situated at Kelamangalam and Thally Road. While 2-wheeler remains our core growth engine, we continue to focus on building the 4-wheeler industry business. Supplies to Mahindra and Mahindra, we are scaling up as planned, while several other projects are progressing well. Our development program with Force Motors and other leading OEMs are also moving forward. As we look ahead, we see strong momentum across the industries and a healthy opportunity for Fiem. The festive season is starting on a strong footnote and the shift towards the premium and electric vehicle is increasing the content opportunity. With a strong order book and pipeline, we are well-positioned to deliver the next phase of growth. With this, I now hand over to Mr. O.P. Gupta and the finance team to take you through the detailed financial performance. O. P. Gupta: Thank you, sir. Good afternoon to everyone. I would like to present the Q1 numbers for FY27 in comparison to the corresponding quarter of last year. The company has registered quarterly sales of INR769.9 crores in Q1 of FY27 as compared to INR649.07 crores over same quarter last year, registering a growth of 18.62%. The EBITDA in Q1 is INR104.06 crores translating into an EBITDA margin of 13.5% as compared to INR87.36 crores over same quarter last year with EBITDA margin of 13.46%. The PAT of the company has also increased to INR65.19 crores as compared to INR56.05 crores, representing an increase of 16.31%. The LED lighting share in total automotive lighting remained at 63% during the quarter. During the quarter, the company has made a capex of INR41.15 crores. With this, I end the financial brief, and now the floor is open for question and answer. Moderator: Thank you very much. We take the first question from the line of CA Garvit Goyal from Serene Alpha. Please proceed. Garvit Goyal: Hi. Am I audible? Management: Yes, please. Page [Showing first 8,000 characters — download PDF for full document]