3 Automotive Lighting and Mirrors Maker, Switches and Sensors Supplier and Vehicle Air Conditioning Specialist Stocks With a Strong Future Roadmap: Fiem Industries, UNO Minda and Subros
- October 26, 2026
- Posted by: Chaitanya Auti
- Category: Best Stocks
Fiem Industries, UNO Minda and Subros: ROE of 13.3% to 21.0% and FY22 to FY26 revenue CAGR of 14.0% to 23.8%. Prices as of 23 Oct 2026.
Quick Answer
The three auto lamp, switch and cooling stocks to watch are Fiem Industries, UNO Minda and Subros. Their return on equity ranges from 13.3% to 21.0%, and their revenue compound annual growth from FY22 to FY26 ranges from 14.0% to 23.8%. Fiem Industries has the highest return on equity at 21.0%, while UNO Minda has the fastest revenue growth at 23.8% a year. Prices are based on the 23 October 2026 close, and this article is educational, not investment advice.
Auto lamp, switch and cooling stocks let investors follow companies that serve a growing part of the Indian economy. Fiem Industries, UNO Minda and Subros cover an automotive lighting and mirrors maker, a switches and sensors supplier and a vehicle air conditioning specialist.
This list covers three auto lamp, switch and cooling stocks with complete current figures: Fiem Industries, UNO Minda and Subros. Every figure comes from the latest reported financials and the 23 October 2026 market close. Companies without complete current figures were left out.
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What Are Auto Lamp, Switch and Cooling Stocks?
Auto lamp, switch and cooling stocks are listed auto component makers that supply lamps, switches and cooling systems to two-wheeler, car and truck brands. Their earnings depend on vehicle production, content per vehicle and replacement demand.
Auto Lamp, Switch and Cooling Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| Fiem Industries | 1,757.7 | 4,790 | 18.2 | 36.9 | 21.0 | 0.05 |
| UNO Minda | 1,057 | 61,685 | 47.8 | 36.1 | 17.5 | 0.40 |
| Subros | 588.1 | 4,017 | 24.1 | 36.1 | 13.3 | 0.02 |
On valuation, Fiem Industries and Subros trade at a P/E below the industry P/E, while UNO Minda trades above it, which reflects the growth the market already expects. Readers comparing auto lamp, switch and cooling stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain.
Why Do Auto Lamp, Switch and Cooling Stocks Have a Strong Roadmap in India?
Auto lamp, switch and cooling stocks have a strong roadmap in India because richer vehicle features, rising two-wheeler output and wider use of air conditioning keep lifting orders for component makers.
- Better lighting. Newer vehicles carry advanced lamps.
- Vehicle electronics. Switches and sensors add content per vehicle.
- Cabin cooling. More vehicles ship with air conditioning.
Why Fiem Industries Features Among These Auto Lamp, Switch and Cooling Stocks
Among the auto lamp, switch and cooling stocks on this list, Fiem Industries makes automotive lighting, signalling equipment and rear view mirrors, mainly for two-wheelers, with leading Japanese and Indian makers as customers.
The company has a return on equity of 21.0%, a debt to equity ratio of 0.05 and a market capitalisation of Rs 4,790 crore. The stock trades at a P/E of 18.2, below the industry P/E of 36.9.
Revenue rose from Rs 1,575 crore in FY22 to Rs 2,836 crore in FY26, a compound annual growth rate of 15.8%. Net profit grew from Rs 95.3 crore in FY22 to Rs 256 crore in FY26, which works out to a compound annual growth rate of 28.0%. In the June 2026 quarter, revenue grew 17.4% year on year to Rs 780 crore, while net profit rose 12.9% to Rs 64.9 crore.
Roadmap: LED lighting is replacing older bulbs, which raises the value of each vehicle’s lighting set. Fiem is also adding capacity and customers, and the move to premium two-wheelers helps its mix.
What to watch: Follow two-wheeler production volumes and customer-specific launch schedules.
Why UNO Minda Features Among These Auto Lamp, Switch and Cooling Stocks
Among the vehicle lamp and mirror company shares on this list, UNO Minda is a Gurugram-based global automotive supplier of switches, lighting, sensors, alloy wheels, controllers and acoustic products for two-wheelers, passenger vehicles and commercial vehicles.
Revenue rose from Rs 8,376 crore in FY22 to Rs 19,692 crore in FY26, a compound annual growth rate of 23.8%. Net profit grew from Rs 347 crore in FY22 to Rs 1,284 crore in FY26, which works out to a compound annual growth rate of 38.6%.
In the June 2026 quarter, revenue grew 23.6% year on year to Rs 5,563 crore, while net profit rose 2.1% to Rs 316 crore. The company has a return on equity of 17.5%, a debt to equity ratio of 0.40 and a market capitalisation of Rs 61,685 crore. The stock trades at a P/E of 47.8, above the industry P/E of 36.1.
Roadmap: The company is growing in electronics, electric vehicle components and premium products, which carry higher value per vehicle. Acquisitions and joint ventures have widened its technology base.
What to watch: Track electric vehicle component orders, new product launches and international growth.
Why Subros Features Among These Auto Lamp, Switch and Cooling Stocks
Among the three companies on this list, Subros is a Noida-based maker of automotive air conditioning and thermal systems such as compressors, condensers and evaporators for passenger and commercial vehicles.
In the June 2026 quarter, revenue grew 17.5% year on year to Rs 1,038 crore, while net profit rose 1.7% to Rs 41.5 crore. Revenue rose from Rs 2,248 crore in FY22 to Rs 3,794 crore in FY26, a compound annual growth rate of 14.0%.
Net profit grew from Rs 32.5 crore in FY22 to Rs 166 crore in FY26, which works out to a compound annual growth rate of 50.3%. The company has a return on equity of 13.3%, a debt to equity ratio of 0.02 and a market capitalisation of Rs 4,017 crore. The stock trades at a P/E of 24.1, below the industry P/E of 36.1.
Roadmap: The company benefits from rising air conditioner fitment in new vehicles and demand for thermal management in electric vehicles. Close ties with leading vehicle makers support steady volumes.
What to watch: Follow content per vehicle, electric vehicle thermal orders and new customer additions.
Fiem Industries vs UNO Minda vs Subros on Key Financials
The table below sets the three auto lamp, switch and cooling stocks side by side on revenue, profit and margin, using reported figures.
| Company | FY22 Revenue (Rs Cr) | FY26 Revenue (Rs Cr) | Revenue CAGR (FY22-FY26) | FY26 Net Profit (Rs Cr) | FY26 Net Margin |
|---|---|---|---|---|---|
| Fiem Industries | 1,575 | 2,836 | 15.8% | 256 | 9.0% |
| UNO Minda | 8,376 | 19,692 | 23.8% | 1,284 | 6.5% |
| Subros | 2,248 | 3,794 | 14.0% | 166 | 4.4% |
Fiem Industries posts the highest return on equity in this group at 21.0%. UNO Minda combines the largest FY26 revenue at Rs 19,692 crore with the fastest revenue growth, a 23.8% compound annual rate. A useful habit with auto lamp, switch and cooling stocks is to check each new quarterly result against the capacity plans the company described earlier.
The June 2026 quarter, the latest reported, gives a fresh read on momentum:
| Company | Q1 FY26 Revenue (Rs Cr) | Q1 FY27 Revenue (Rs Cr) | Year-on-Year Growth |
|---|---|---|---|
| Fiem Industries | 665 | 780 | 17.4% |
| UNO Minda | 4,501 | 5,563 | 23.6% |
| Subros | 884 | 1,038 | 17.5% |
Key Risks to Check Before Investing in Auto Lamp, Switch and Cooling Stocks
Every theme carries risks that deserve a check before any decision. For these auto lamp, switch and cooling stocks, the main points are: Long-term vehicle lamp and mirror company shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.
- Vehicle cycles. Component orders follow vehicle production.
- Customer concentration. A few large vehicle makers buy most output.
- Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them.
Treat this list as a starting point for research and not as a recommendation. Read the latest results presentation, check the management commentary on order books or capacity plans, and compare each company with its peers before you decide anything.
Use the Univest Stock Screener to filter auto lamp, switch and cooling stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Auto Lamp, Switch and Cooling Stocks
Auto lamp, switch and cooling stocks reward investors who follow demand trends, order books and margins together. Fiem Industries, UNO Minda and Subros each have a clear plan to grow. Based on the 23 October 2026 close, Fiem Industries trades at Rs 1,757.7, UNO Minda at Rs 1,057 and Subros at Rs 588.1. Valuation matters as much as growth, so compare each company’s P/E with its industry P/E before adding any of these auto lamp, switch and cooling stocks to a watchlist.
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Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
What are auto lamp, switch and cooling stocks?
Ans. Auto lamp, switch and cooling stocks are listed auto component makers that supply lamps, switches and cooling systems to two-wheeler, car and truck brands. Their earnings depend on vehicle production, content per vehicle and replacement demand. This list looks at three of them, Fiem Industries, UNO Minda and Subros, using reported FY22 to FY26 financials and the 23 October 2026 closing prices.
Which auto lamp, switch and cooling stocks are covered in this list?
Ans. This list covers Fiem Industries, UNO Minda and Subros. Based on the 23 October 2026 close, Fiem Industries traded at Rs 1,757.7, UNO Minda at Rs 1,057 and Subros at Rs 588.1. Their return on equity ranges from 13.3% to 21.0%, and their revenue compound annual growth from FY22 to FY26 ranges from 14.0% to 23.8%.
Why do auto lamp, switch and cooling stocks have a strong future roadmap in India?
Ans. Auto lamp, switch and cooling stocks have a strong roadmap in India because richer vehicle features, rising two-wheeler output and wider use of air conditioning keep lifting orders for component makers. The main drivers are as follows. Better lighting. Newer vehicles carry advanced lamps. Vehicle electronics. Switches and sensors add content per vehicle. Cabin cooling. More vehicles ship with air conditioning. Together these factors give the companies on this list a visible path for growth over the coming years.
How has Fiem Industries performed financially?
Ans. Revenue rose from Rs 1,575 crore in FY22 to Rs 2,836 crore in FY26, a compound annual growth rate of 15.8%. Net profit grew from Rs 95.3 crore in FY22 to Rs 256 crore in FY26, which works out to a compound annual growth rate of 28.0%. In the June 2026 quarter, revenue grew 17.4% year on year to Rs 780 crore, while net profit rose 12.9% to Rs 64.9 crore. The company has a return on equity of 21.0%, a debt to equity ratio of 0.05 and a market capitalisation of Rs 4,790 crore. The stock trades at a P/E of 18.2, below the industry P/E of 36.9. Looking ahead, lED lighting is replacing older bulbs, which raises the value of each vehicle’s lighting set. Fiem is also adding capacity and customers, and the move to premium two-wheelers helps its mix.
How has UNO Minda performed financially?
Ans. Revenue rose from Rs 8,376 crore in FY22 to Rs 19,692 crore in FY26, a compound annual growth rate of 23.8%. Net profit grew from Rs 347 crore in FY22 to Rs 1,284 crore in FY26, which works out to a compound annual growth rate of 38.6%. In the June 2026 quarter, revenue grew 23.6% year on year to Rs 5,563 crore, while net profit rose 2.1% to Rs 316 crore. The company has a return on equity of 17.5%, a debt to equity ratio of 0.40 and a market capitalisation of Rs 61,685 crore. The stock trades at a P/E of 47.8, above the industry P/E of 36.1. Looking ahead, the company is growing in electronics, electric vehicle components and premium products, which carry higher value per vehicle. Acquisitions and joint ventures have widened its technology base.
How has Subros performed financially?
Ans. Revenue rose from Rs 2,248 crore in FY22 to Rs 3,794 crore in FY26, a compound annual growth rate of 14.0%. Net profit grew from Rs 32.5 crore in FY22 to Rs 166 crore in FY26, which works out to a compound annual growth rate of 50.3%. In the June 2026 quarter, revenue grew 17.5% year on year to Rs 1,038 crore, while net profit rose 1.7% to Rs 41.5 crore. The company has a return on equity of 13.3%, a debt to equity ratio of 0.02 and a market capitalisation of Rs 4,017 crore. The stock trades at a P/E of 24.1, below the industry P/E of 36.1. Looking ahead, the company benefits from rising air conditioner fitment in new vehicles and demand for thermal management in electric vehicles. Close ties with leading vehicle makers support steady volumes.
What risks should investors check before buying auto lamp, switch and cooling stocks?
Ans. Investors should check a few risks before buying auto lamp, switch and cooling stocks. Vehicle cycles. Component orders follow vehicle production. Customer concentration. A few large vehicle makers buy most output. Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them. Reading the latest results presentation and comparing each company with its peers helps judge how these risks apply to each stock.
Is this list of auto lamp, switch and cooling stocks investment advice?
Ans. No. This article is educational and uses publicly available data as of the 23 October 2026 close. Please verify figures on NSE and BSE, read company filings and consult a SEBI registered adviser before investing. Univest is SEBI registered research analyst INH000013776.