Fiem Industries Ltd

- There is no mention of any current plans for fundraising through debt or equity. - The company states it is currently conducting market studies and preparing a business plan. - Management will update investors on any CAPEX or related funding plans once they are ready. - The company is currently a zero-debt company with very little interest cost limited to bill discounting. - Future funding or capital raising plans have not been disclosed; the board will consider options like stock splits or bonuses at an appropriate time.

- No immediate CAPEX is planned as the company is currently conducting market studies and preparing a business plan. - Management will update investors once the plans are finalized and ready. - The company is progressing with localizing Gogoro SKD to CKD production over the next 6-8 months, which involves investment in domestic production capabilities. - Fiem is gradually building its four-wheeler business team and enhancing technical capabilities in a step-by-step manner, indicating future strategic investments in that segment. - Overall, while no explicit current CAPEX is underway aside from ongoing initiatives, the company is actively exploring new business opportunities and technology localization that could require investment soon.

- EV two-wheeler sales grew 66% YoY in Q1 FY'24 despite Fame II subsidy reduction; expected to stabilize and grow during the year. - FY24 outlook is very positive with growth drivers including: - Auto industry growth. - Over 80 new projects in order book. - Increasing LED content usage (5-7% annual increase expected). - Indirect exports through OEMs like Yamaha, Honda, Suzuki, Piaggio. - Higher market share in electric vehicle (EV) segment. - Entry and growth in four-wheeler lighting segment. - Gogoro partnership revenues expected from FY25 onwards with product expansion and localization planned. - New models with Yamaha and Hero (including Harley) are expected to contribute to revenue in the coming years. - Company targets consistent margin profile alongside revenue growth.

- FY24 outlook is positive with expected revenue growth driven by: - Auto industry growth. - Over 80 new projects currently in hand. - Increasing LED share in products, contributing to better margins. - Indirect exports via OEMs like Yamaha, Honda, Suzuki, Piaggio. - Higher market share in the EV segment. - Entry and growth in the four-wheeler segment. - EBITDA margins are expected to normalize around 13% to 13.5%. - Gross margin fluctuates due to product mix but LED share is increasing, aligning with improved margins over next 18 months. - New product launches, especially in EV and four-wheeler lighting, are expected to contribute positively. - Cautious on short-term margin dips; favorable medium-term trajectory expected with scale and product mix improvements. - Stock split or bonus shares currently not planned but may be considered by the Board in the future. - Overall, management optimistic about double-digit growth in revenues and profits going forward.

- Current order book stands at approximately Rs. 9.5 billion as declared in the last quarter. - Around 85 to 90 projects are currently on line. - Expecting to realize 25% to 30% of sales revenue from the current order book within this financial year. - The balance revenue will be realized in the next year and subsequent years. - The company has a healthy pipeline of new projects, with over 80 projects in hand driving growth. - Continuous engagement with four-wheeler customers has resulted in inquiries and RFQs, indicating potential future orders. - The company is focused on ramping up production for existing partnerships like Gogoro with SKD transitioning to CKD in 6-8 months.