"FIEM Industries, has subsisting technical support from Ichikoh Industries, Japan (IOL)). IOL is a well-known name worldwide in automotive lighting, rear view mirrors & wiper blades and is a Tier 1 supplier to the major Japanese vehicle manufacturers such as Nissan Motor, Toyota Motor Corporation, Fuji Heavy Industries, Daihatsu Motor Co, Mazda Motor Corporation etc. FIEM has blue chip customers in domestic and global markets. In four wheeler segment, the clients are Tata Motors, Skoda Auto, Hyundai, Force Motors, Fiat, Chrysler, Sparex, etc. Customers in two wheeler segments are TVS, Honda, Suzuki, HMSL, Yamaha, Zadi, Piaggio, etc. The tractor clients include VST Tillers, M & M, International Tractors, HMT Tractors, Escorts, Preet Tractors and Tractors & Farms Equipment."
"FIEM has established 100% EOU at Hosur with latest technology. FIEM is trying its level best to leverage its relations with the existing customers for fulfilling their supply need in foreign markets. Its valuable customers also need components for their global requirement and trying to grab the orders and also succeeded in winning the award for global requirement of components for their customers. FIEM is not only focusing on OEMs but also approaching the top class Tier-1 suppliers, by marketing with low cost, high quality products. Exports during FY11 stood at Rs 12.5 crore."
"FIEM products under the brand name "FIEM" are well known in India for their exemplary quality and durability. FIEM continues to receive orders from its blue chip clients. The proximity of plants to its OEM customers offers logistic savings to valued customers and further enables FIEM to cut its inventory carrying costs and shorten the delivery time. At the CMP of Rs 142, the share is trading at a P/E of 8.3x on FY12E and 5.7x on FY13E. We recommend BUY with a target price of Rs 185 at which the share will trade at a P/E 7.5," says Sunidhi Securities research report
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