Fiem Industries Ltd share Price

Fiem Industries Ltd is one of the leading manufacturers of automotive lighting & signaling equipments and rear view mirrors. The Company is in the business of manufacturing and suppliers of auto components, mainly, automotive lighting and signally equipments, rearview mirror, prismatic mirror, sheet metal parts and moulds, and block and dies for two-wheeler and four wheeler applications. Their main products are Automotive Lighting & Signaling Equipments, Rear View Mirrors, Prismatic Mirror and Sheet Metal Parts. The company also manufactures and supplies value added products such as a complete Rear Fender Assembly for 2-wheelers which typically consists of rear fender (plastic) fitted with two turn signal lamps, tail lamps, number plate, reflex reflectors fitted with various mounting sheet metal brackets. The company has one subsidiary company, namely Fiem Industries Japan Co Ltd. Fiem Industries Ltd was incorporated on February 6, 1989 as private limited company with the name Rahul Auto Pvt Ltd. The company set up a unit at Kundli, Sonepat in Haryana for carrying on the business of manufacturing rear view mirrors for two, three and four wheelers. In May 7, 1992, the name of the company was changed from Rahul Auto Pvt Ltd to Fiem Industries Pvt Ltd. In November 30, 1993, the company was converted into a public limited company and the name was changed to FIEM Industries Ltd. Also, they shifted all manufacturing facilities to the plant situated at Kundli, Sonepat in Haryana having full fledged testing laboratory for manufacturing automotive lamps & rear view mirrors. During the year 1993-94, the company added additional facilities for manufacturing automotive lighting and signaling equipments such as head lamp, tail lamp, side indicator, reflex Reflector, fog lamp, etc. In the year 1996, the company set-up a joint venture company, namely FIEM Sung San (India) Ltd in association with Sung San Co Ltd, Korea and Daewoo Motors India Ltd. In the year 2004, the company set up the Unit II in Kallukondapalli, Hosur for manufacturing head lamps, tail lamps, rear combination lamps, side indicator lamps, reflex reflectors and rear view mirrors. In the year 2005, the company set up Unit III at Kelamanglam, Hosur, Tamil Nadu for manufacturing sheet metal items viz., frame, mudguards, stands, guard exhaust pipe. Also, they set up Unit IV at Mysore, Karnataka for manufacturing value added products such as assembly of rear fender for two wheelers. During the year, the company entered into Technical Support Agreement with Ichikoh Industries Ltd, Japan. They established overseas design centre and liaison office in Japan. Also, they signed MOU for establishing a Joint Venture company with Aspock Holding, GmbH, Austria. In September 30, 2005, the company acquired 32,50,000 Equity Shares FIEM Sung San (India) Ltd and thus FIEM Sung San (India) Ltd became a subsidiary company. In the year 2006, the company entered into a joint venture agreement with Korea Air Conditioner Co Ltd. for establishing a company at Hosur, Tamil Nadu. The company set up an EOU unit (Unit V) at Kelamanglam, Hosur for manufacturing mirror plates, mirror assembly, head lamps, tail lamps, and side indicators. Also, they set up Unit VI at Nalagarh in Himachal Pradesh for manufacturing of lighting and signaling equipments and rear view mirrors. During the year 2006-07, FIEM Sung San (India) Ltd was amalgamated with the company with effect from April 1, 2006. The company came out the public issue of 41,00,001 equity shares and the equity shares were listed on the Bombay Stock Exchange and National Stock Exchange with effect from October 19, 2006. In January 11, 2007, the company acquired a new Industrial Plot measuring around 7 (seven) Acres in Phase V, Industrial Estate, Rai, Sonepat, Haryana for future expansion plans of the company. During the year 2007-08, the company entered into License and Technical Assistance Agreement with BATZ S. Coop. of Spain for manufacturing of Pedal Box Assembly. During the year 2008-09, the company signed strategic MoU for equity participation by Ichikoh Industries Ltd, Japan, in which Ichikoh will extend the technical assistance to the company for designing, development and manufacturing of Automotive Lightings & Rear View Mirrors for supplying to various car manufactures (OEMs) in India. In March 2009, the company incorporated Fiem Industries Japan Co Ltd as a subsidiary company in Japan. In June 2010, the company acquired a new Industrial Plot measuring around 10.5 acre in Industrial Area Tapukara, Alwar in Rajasthan. In July 2010, the company set up Green Field Facility at Rai Industrial Area, Sonepat in Haryana and commenced commercial production. This plant is established with ultramodern manufacturing facilities and latest technology keeping in view the growing business of the Company and well equipped for meeting the growing demand of the OEMs. The company and Ichikoh Industries Ltd signed an agreement to establish a joint venture, which will be engaged in the four-wheeled and two-wheeled vehicle lamp business. FIEM Industries Limited will hold a 34% stake in the joint venture. Also, the company signed an MoU with Ichikoh Industries Ltd, Japan for forming a Strategic Global `Fiem-Ichikoh Alliance` for acquiring the 2-Wheeler Automotive Lighting business in worldwide market. In March 2011, the company set up Unit VIII at Alwar in Rajasthan for manufacturing plastic molded parts. The company commenced commercial production with effect from March 11, 2011. In 2012, the Company has received `Vendor Performance Award` from one of its esteemed customers, M/s. Suzuki Motorcycle India Pvt. Ltd. The company has inked a MoU to technically collaborate with BrightLite Systems Pte. Ltd, Singapore. The company received `Vendor Performance Award` from Suzuki Motorcycle India for the year 2013. In 2014, the company received an award for Best performance `GRAND AWARD FOR QCDDM` (Quality, Cost, Development, Delivery and Management) for the year 2014. The company has received `Supplier Recognition Award` from Harley Davidson India during the year 2014. In 2015, the company receives LoA from EESL for 9W LED bulbs. The company also inks MoU with Asian Industry during the year 2015.