FIEM Industries – A Play on Rising Content Per Vehicle Rs 2300
FIEM is one of India’s leading manufacturers of automotive lighting systems, signalling equipment and rear-view mirrors. It is predominantly a domestic two-wheeler (2W) supplier, with 97% of revenue coming from India and around 97% linked to the 2W segment. Its key customers include TVS (33%), Honda (25%), Yamaha (14%), Suzuki (9%) and Royal Enfield (6%), giving it strong relationships with most leading motorcycle manufacturers.
