New Risk • Jun 20
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 3.2% Last year net profit margin: 7.3% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (3.2% net profit margin). Announcement • May 20
BEML Limited to Report Q4, 2026 Results on May 29, 2026 BEML Limited announced that they will report Q4, 2026 results on May 29, 2026 Major Estimate Revision • Feb 13
Consensus EPS estimates fall by 19% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from ₹44.8b to ₹44.0b. EPS estimate also fell from ₹45.75 per share to ₹37.20 per share. Net income forecast to grow 79% next year vs 30% growth forecast for Machinery industry in India. Consensus price target down from ₹2,132 to ₹2,063. Share price rose 7.5% to ₹1,737 over the past week. Price Target Changed • Feb 10
Price target decreased by 9.0% to ₹2,063 Down from ₹2,266, the current price target is an average from 3 analysts. New target price is 17% above last closing price of ₹1,770. Stock is up 20% over the past year. The company is forecast to post earnings per share of ₹37.20 for next year compared to ₹35.13 last year. Reported Earnings • Feb 09
Third quarter 2026 earnings released: ₹2.69 loss per share (vs ₹2.93 profit in 3Q 2025) Third quarter 2026 results: ₹2.69 loss per share (down from ₹2.93 profit in 3Q 2025). Revenue: ₹10.9b (up 24% from 3Q 2025). Net loss: ₹223.8m (down 192% from profit in 3Q 2025). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Machinery industry in India. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Feb 09
Dividend of ₹2.50 announced Shareholders will receive a dividend of ₹2.50. Ex-date: 13th February 2026 Payment date: 8th March 2026 Dividend yield will be 0.7%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (25% earnings payout ratio) but not covered by cash flows (418% cash payout ratio). The dividend has increased by an average of 44% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 92% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jan 30
BEML Limited to Report Q3, 2026 Results on Feb 06, 2026 BEML Limited announced that they will report Q3, 2026 results on Feb 06, 2026 Reported Earnings • Nov 06
Second quarter 2026 earnings released: EPS: ₹11.53 (vs ₹6.13 in 2Q 2025) Second quarter 2026 results: EPS: ₹11.53. Revenue: ₹8.46b (down 1.6% from 2Q 2025). Net income: ₹480.3m (down 5.9% from 2Q 2025). Profit margin: 5.7% (down from 5.9% in 2Q 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Machinery industry in India. Announcement • Oct 29
BEML Limited to Report Q2, 2026 Results on Nov 05, 2025 BEML Limited announced that they will report Q2, 2026 results on Nov 05, 2025 Announcement • Sep 30
BEML Limited Announces Board Appointments BEML Limited in its Annual General Meeting held on 29 September, 2025 approved the appointment of Shri Vikas Ramkrishna Kakatkar and Shri Siva Makutam as independent directors and Smt. Meera Mohanty as Government Nominee Director of the company. Declared Dividend • Sep 06
Dividend of ₹1.20 announced Shareholders will receive a dividend of ₹1.20. Ex-date: 22nd September 2025 Payment date: 28th October 2025 Dividend yield will be 0.5%, which is lower than the industry average of 0.6%. Sustainability & Growth Dividend is covered by earnings (28% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 35% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 115% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Sep 05
BEML Limited, Annual General Meeting, Sep 29, 2025 BEML Limited, Annual General Meeting, Sep 29, 2025, at 11:30 Indian Standard Time. Location: four seasons hotel, bangalore, 8,bellary road, ganganagar, 560032, bangalore India Reported Earnings • Aug 12
First quarter 2026 earnings released: ₹15.40 loss per share (vs ₹16.92 loss in 1Q 2025) First quarter 2026 results: ₹15.40 loss per share (improved from ₹16.92 loss in 1Q 2025). Revenue: ₹6.43b (up 1.3% from 1Q 2025). Net loss: ₹641.1m (loss narrowed 9.0% from 1Q 2025). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Machinery industry in India. Over the last 3 years on average, earnings per share has increased by 29% per year whereas the company’s share price has increased by 31% per year. Announcement • Aug 05
BEML Limited to Report Q1, 2026 Results on Aug 11, 2025 BEML Limited announced that they will report Q1, 2026 results on Aug 11, 2025 Price Target Changed • May 28
Price target increased by 7.6% to ₹4,129 Up from ₹3,838, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of ₹4,237. Stock is down 4.9% over the past year. The company is forecast to post earnings per share of ₹101 for next year compared to ₹70.24 last year. New Risk • May 26
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.9% average weekly change). Reported Earnings • May 24
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: ₹70.24 (up from ₹67.67 in FY 2024). Revenue: ₹40.5b (flat on FY 2024). Net income: ₹2.93b (up 3.8% from FY 2024). Profit margin: 7.2% (up from 7.0% in FY 2024). Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) also surpassed analyst estimates by 9.4%. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Machinery industry in India. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 16
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹3,659, the stock trades at a forward P/E ratio of 39x. Average forward P/E is 34x in the Machinery industry in India. Total returns to shareholders of 220% over the past three years. Valuation Update With 7 Day Price Move • Mar 28
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹3,220, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 32x in the Machinery industry in India. Total returns to shareholders of 119% over the past three years. Announcement • Mar 03
BEML Limited Announces Promotion of Yogananda G as Executive Director- SBU-Head (Mining) BEML Limited announced the promotion of Shri Yogananda G from Chief General Manager- SBU-Head (Mining) to Executive Director- SBU-Head (Mining), effective March 1, 2025. Major Estimate Revision • Feb 13
Consensus revenue estimates fall by 13% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from ₹46.1b to ₹40.1b. EPS estimate fell from ₹82.95 to ₹63.00 per share. Net income forecast to grow 58% next year vs 23% growth forecast for Machinery industry in India. Consensus price target down from ₹4,759 to ₹4,223. Share price fell 10% to ₹2,937 over the past week. Declared Dividend • Feb 08
Dividend of ₹5.00 announced Dividend of ₹5.00 is the same as last year. Ex-date: 14th February 2025 Payment date: 8th March 2025 Dividend yield will be 0.7%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (25% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 35% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 105% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 07
Third quarter 2025 earnings released: EPS: ₹5.86 (vs ₹11.57 in 3Q 2024) Third quarter 2025 results: EPS: ₹5.86 (down from ₹11.57 in 3Q 2024). Revenue: ₹8.80b (down 16% from 3Q 2024). Net income: ₹244.1m (down 49% from 3Q 2024). Profit margin: 2.8% (down from 4.6% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Machinery industry in India. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Announcement • Feb 06
BEML Limited Declares Interim Dividend for the Financial Year 2024-25 The board of directors of the BEML Limited in its 408th meeting held on February 06, 2025, inter-alia, has declared interim dividend of INR 5/- per equity share of INR 10/- each (i.e. 50% of paid up share capital) for the financial year 2024-25. In this connection, the Company had fixed the Record date as February 14, 2025for payment of said interim dividend to the eligible equity shareholders as on the record date. Announcement • Jan 01
BEML Limited Announces Change in Senior Management BEML Limited announced the change the the designation of the Senior Management of the company: Sunil R. Kharad: Superannuation from BEML Limited as Executive Director (Corporate Materials) with effect from December 31, 2024 and Macharla Ganesh Govinda Raju: Promotion as Executive Director SBU Head (HMV), effective from 1 January 2025. Announcement • Dec 18
BEML Limited Announces Change of Designations BEML Limited notify the Stock Exchanges about the change in the designations of the Senior Management (one level below the Board) of the Company vide the Inter Office Memo- Corp. HR-ES/C62024-25/3419 dated 17.12.2024 as below: Sekar V from Chief General Manager to Executive Director (Palakkad) and Subramanyam S M from Chief General Manager to Executive Director (KGF), effective July 1, 2024. Reported Earnings • Nov 13
Second quarter 2025 earnings released: EPS: ₹12.25 (vs ₹12.43 in 2Q 2024) Second quarter 2025 results: EPS: ₹12.25 (down from ₹12.43 in 2Q 2024). Revenue: ₹8.75b (down 4.6% from 2Q 2024). Net income: ₹510.3m (down 1.4% from 2Q 2024). Profit margin: 5.8% (up from 5.6% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Machinery industry in India. Over the last 3 years on average, earnings per share has increased by 31% per year whereas the company’s share price has increased by 32% per year. Announcement • Oct 18
BEML Limited Appoints Sanjay Som as Director Pursuant to Article 97 of the Articles of Association of BEML Limited, the President of India has appointed Shri Sanjay Som, Director (Mining & Construction Business) (DIN- 10811981), on the Board of the Company vide letter dated October 16, 2024. Since, the DIN for Shri Som has been allotted October 17, 2024, hence, the Company is filing the intimation accordingly after allocation of DIN. Shri Sanjay Som, is a graduate in Mechanical Engineering from NIT Raipur, 1988 batch, is having over 35 years of experience in working in Heavy Engineering and Manufacturing industries, both in Private and Public Sector. His major contributions includes: 17 years in BEML Ltd. working in all three business verticals Mining & Construction, Defence & Aerospace and Rail & Metro Business covering Manufacturing division located in KGF, Mysore & Bangalore. He was Head of Manufacturing and Assembly shop in EM Division of KGF Complex for the aggregates required for Dozer assembly, Excavator Assembly and other high end mining equipment. He was Head of Production in Truck Division of Mysore Complex. He was spearheading the development of 190 Ton Electric Dump Truck. He was Head of Defence Production for supply of High Mobility Vehicles, Sarvatra Bridge Systems, 50 Ton Trailers etc for various Defence requirements. He was Chief of Bangalore Complex in Rail and Metro Division and led the manufacturing of rolling stocks for various Metro Corporations including Driverless Metro car supplied for Mumbai Metro and also developed Vande Bharat Sleeper coach for Indian Railways. Previously, he has worked 18 years in Public limited companies ie. M/s Simplex Engineering, M/s ACC Machinery & M/s Grasim Industries for manufacturing products for Railways, Steel Plants, Cements & Tyre Machineries, Pressure vessels & Heat
exchangers. Announcement • Oct 11
BEML Limited Appoints Rajeev Kumar Gupta as Director (Rail & Metro Business) Bharat Heavy Electricals Limited informed that Shri Rajeev Kumar Gupta has been relieved from the services of the Company on 10 October, 2024. Designation: Executive Director (CSM & CC), New Delhi. Shri Rajeev Kumar Gupta has been appointed as Director (Rail & Metro Business) in M/s BEML Limited vide Ministry of Defence, GOI letter no. 8(4)/2021-D(BEML)-Vol-II dated October 8, 2024, and has been allowed to retain lien on the post of Executive Director in BHEL till the date of his superannuation, that is up to March 24, 2027. Announcement • Sep 20
BEML Limited Approves Final Dividend for the Year 2023-24 BEML Limited at its AGM held on September 20, 2024, approved declaration of the final dividend of INR 15.5 per equity share (i.e. 155% of the paid-up share capital) for the year 2023-24. Declared Dividend • Aug 31
Dividend increased to ₹15.50 Dividend of ₹15.50 is 210% higher than last year. Ex-date: 13th September 2024 Payment date: 20th October 2024 Dividend yield will be 0.5%, which is lower than the industry average of 0.6%. Sustainability & Growth Dividend is well covered by both earnings (33% earnings payout ratio) and cash flows (24% cash payout ratio). The dividend has increased by an average of 23% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 143% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Aug 30
BEML Limited, Annual General Meeting, Sep 20, 2024 BEML Limited, Annual General Meeting, Sep 20, 2024, at 11:30 Indian Standard Time. Location: hotel shangri-la bangalore, no.56-6b, palace road, bengaluru- 560001, India Reported Earnings • Aug 06
First quarter 2025 earnings released: ₹16.92 loss per share (vs ₹18.01 loss in 1Q 2024) First quarter 2025 results: ₹16.92 loss per share (improved from ₹18.01 loss in 1Q 2024). Revenue: ₹6.34b (up 9.9% from 1Q 2024). Net loss: ₹704.7m (loss narrowed 6.1% from 1Q 2024). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Machinery industry in India. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 29
BEML Limited to Report Q1, 2025 Results on Aug 05, 2024 BEML Limited announced that they will report Q1, 2025 results on Aug 05, 2024 Announcement • Jul 12
BEML Limited Announces Board Changes BEML Limited announced that Smt Urmi Chaudhury, Senior Manager- Company Secretary, is appointed as Company Secretary and Compliance Officer of BEML Limited i.e. w.e.f. July 12, 2024 in place of Shri Jai Gopal Mahajan. With over a decade of robust experience in Regulatory & Corporate Compliance and Secretarial Practices, Smt. Chaudhury brings extensive expertise across diverse domains including SEBI (LODR), ROC, CSR & ESG, FEMA, IBC and Labour Laws etc. Her career highlights include leadership in IPO project management and roles with prominent organizations, including 6+ years with a listed CPSE under the Ministry of Steel and 4 years with a Tata Steel JV Company as Compliance Officer in liaison with regulators, government authorities, and directors. Her proficiency extends to conducting Boards/Committee Meetings, Shareholders Meetings (AGM/EGM/Postal Ballot), and preparing comprehensive agendas for high-stakes decisions such as High Value Tenders, Bank Loans, Mining Operations, Lease Deeds, and Office Relocations across states. Adept at managing end-to-end pre and post-meeting compliances with regulators, ensuring adherence to stringent procedural requirements, her strong track record underscores her ability to navigate complex regulatory landscapes and deliver effective governance and compliance solutions to the Board and other stakeholders at large. Announcement • Jun 25
BEML Limited Appoints Debi Prasad Satpathy, Executive Director (Hr) as Director (Human Resources) BEML Limited announced that Pursuant to Article 97 of the Articles of Association of the Company, the President of India has appointed Shri Debi Prasad Satpathy, Executive Director (HR) as Director (Human Resources) on the Board of the Company vide letter dated June 20, 2024. Since, the DIN- 10679597 for Shri Satpathy has been allotted on June 24, 2024 hence, the Company is filing the intimation. Shri Debi Prasad Satpathy is a Post-Graduate in Industrial Relation and Personnel Management and holds a Degree in Science with Honours from Berhampur University. Shri Satpathy has 32 years of vivid and diverse experience in the field of Human Resource and Development from over 3 Public Sector Undertakings both under the Central Government and the Odisha State Government. His professional Career started in February 1992 as an Executive Trainee at the Nagaon Paper Mill of Hindustan Paper Corporation Ltd. at Assam. Over the 15 years at Nagaon Paper Mill, he went on to become Manager HR before he moved to Kolkata at the Head Quarters of Hindustan Paper Corporation for the next 4 years. In 2011, after handling and acquiring a vast experience in all the facets of Human Resource Development, he migrated from Hindustan Paper Corporation to BEML Limited, Bangalore to head the Industrial Relation and Recruitment Department and later to head the Personal Department of BEML's first production unit, the Rail Coach Unit, Bangalore Complex. He was instrumental in establishing the Centre of Excellence, Welfare amenities and compliances at Bangalore Complex. Shri Debi Prasad Satpathy is not having any inter-se relationship among the Directors of the Company. Price Target Changed • Jun 20
Price target increased by 21% to ₹4,868 Up from ₹4,015, the current price target is an average from 2 analysts. New target price is 9.3% above last closing price of ₹4,453. Stock is up 174% over the past year. The company is forecast to post earnings per share of ₹88.40 for next year compared to ₹61.66 last year. Valuation Update With 7 Day Price Move • Jun 10
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹3,899, the stock trades at a forward P/E ratio of 44x. Average forward P/E is 41x in the Machinery industry in India. Total returns to shareholders of 243% over the past three years. Valuation Update With 7 Day Price Move • May 22
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹4,554, the stock trades at a forward P/E ratio of 52x. Average forward P/E is 44x in the Machinery industry in India. Total returns to shareholders of 319% over the past three years. Announcement • May 08
BEML Limited to Report Fiscal Year 2024 Results on May 13, 2024 BEML Limited announced that they will report fiscal year 2024 results on May 13, 2024 Price Target Changed • Mar 19
Price target increased by 7.3% to ₹3,141 Up from ₹2,928, the current price target is an average from 2 analysts. New target price is 13% above last closing price of ₹2,780. Stock is up 131% over the past year. The company is forecast to post earnings per share of ₹71.60 for next year compared to ₹37.92 last year. Announcement • Feb 29
BEML Limited Announces Change in Management BEML Limited notified the Stock Exchanges about the cessation of the Executive Directors as below: Mr. Umashankar Devappa, Executive Director (Defence), Reason for cessation: Superannuation, effective date is February 29, 2024. Mr. Pawan Kumar, Executive Director (Marketing- M & C), Reason for cessation: Superannuation, effective date is February 29, 2024. Major Estimate Revision • Feb 15
Consensus EPS estimates increase by 22% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from ₹56.80 to ₹69.40. Revenue forecast steady at ₹44.0b. Net income forecast to grow 88% next year vs 17% growth forecast for Machinery industry in India. Consensus price target broadly unchanged at ₹2,937. Share price fell 12% to ₹3,107 over the past week. New Risk • Feb 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.1% average weekly change). Declared Dividend • Feb 10
Dividend of ₹5.00 announced Dividend of ₹5.00 is the same as last year. Ex-date: 16th February 2024 Payment date: 9th March 2024 Dividend yield will be 0.3%, which is lower than the industry average of 0.6%. Sustainability & Growth Dividend is well covered by both earnings (12% earnings payout ratio) and cash flows (13% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 42% over the next year, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 09
Third quarter 2024 earnings released: EPS: ₹11.57 (vs ₹15.92 in 3Q 2023) Third quarter 2024 results: EPS: ₹11.57 (down from ₹15.92 in 3Q 2023). Revenue: ₹10.8b (up 4.3% from 3Q 2023). Net income: ₹482.0m (down 27% from 3Q 2023). Profit margin: 4.5% (down from 6.4% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 49% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 08
BEML Limited Approves Interim Dividend BEML Limited announced that the Board of Directors have declared an Interim Dividend of INR 5.00 per equity share (i.e. 50 % of paid-up share capital), which will be paid to the eligible shareholders as on the record date i.e. on Feb. 16, 2024. Announcement • Feb 01
BEML Limited Announces Retirement of Basudev Mishra as Executive Director, Mysore Complex BEML Limited announced Voluntary Retirement of Shri Basudev Mishra as Executive Director, Mysore Complex. Date of cessation February 1, 2024. Valuation Update With 7 Day Price Move • Jan 30
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹3,504, the stock trades at a forward P/E ratio of 53x. Average forward P/E is 33x in the Machinery industry in India. Total returns to shareholders of 360% over the past three years. Announcement • Jan 26
BEML Limited to Report Q3, 2024 Results on Feb 08, 2024 BEML Limited announced that they will report Q3, 2024 results on Feb 08, 2024 Announcement • Jan 25
BEML Limited Announces Board Changes BEML Limited announced that the changes in the designation of Senior Management (one level below the Board). Jai Gopal Mahajan, currently Chief General Manager- Finance & Company Secretary, promoted to Executive Director (Finance) & Company Secretary. Debi Prasad Satpathy, currently Chief General Manager -HR, promoted as Executive Director (HR). Sasi Kumar K, currently Chief General Manager, Accounts, promoted as Executive Director (Accounts). Sunil R Kharad, currently Chief General Manager- Corporate Materials, promoted as Executive Director (Corporate Materials). These are effective January 07, 2023. Shashikanth KC, currently Chief General Manager-R&D (R&M), promoted as Executive Director (R&D)- Rail & Metro effective on February 02, 2023. Ishwara Bhat V, currently Chief General Manager- KGF Complex, promoted as Executive Director (KGF). Srinivasan G, currently Chief General Manager - Palakkad Complex, promoted as Executive Director (Palakkad). These are effective on January 07, 2023. Announcement • Dec 12
BEML Limited Announces Change in Directorate BEML Limited announced appointed Shri Rajeev Prakash as Government Nominee Director on the Board of Directors of the Company in place of Shri Surendra Prasad Yadav. Shri Rajeev Prakash is a 1995 batch, Indian Post & Telecommunication Accounts and Finance Service officer (IP&TAFS). He has completed B.A. Honors in English from St. Stephen's College, University of Delhi and M.A. in Development Studies from the Institute of Social Studies, Erasmus University, the Hague Netherlands. Shri Prakash has vast experience in the field of Telecommunications and has held various important positions in the Government of India. He has been working as Joint Secretary (Naval Systems) in the Department of Defence Production, Ministry of Defence, Government of India since June 2022. He deals with all financial, administrative & operational matters of the Defence Public SectorUndertaking shipyards. He also deals with issues of indigenisation of technologies pertaining to the shipyards. Shri Prakash is also the Country Officer in DDP for SAARC, ASEAN and East Asian Countries. Shri Rajeev Prakash is not having any inter-se relationship among the Directors of the Company. Reported Earnings • Nov 10
Second quarter 2024 earnings released: EPS: ₹12.43 (vs ₹3.90 in 2Q 2023) Second quarter 2024 results: EPS: ₹12.43 (up from ₹3.90 in 2Q 2023). Revenue: ₹9.24b (up 15% from 2Q 2023). Net income: ₹517.8m (up 219% from 2Q 2023). Profit margin: 5.6% (up from 2.0% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has increased by 53% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 29
BEML Limited to Report Q2, 2024 Results on Nov 09, 2023 BEML Limited announced that they will report Q2, 2024 results on Nov 09, 2023 Valuation Update With 7 Day Price Move • Oct 23
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹2,041, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 33x in the Machinery industry in India. Total returns to shareholders of 292% over the past three years. Announcement • Sep 28
BEML Limited Approves Final Dividend for the Fiscal Year 2023 BEML Limited at its AGM held on September 27, 2023, confirmed the Interim Dividend on Equity shares @ INR 5 per equity share (50% of the paid up share capital) paid to the shareholders and declaration of the Final Dividend @ INR 5 per equity share (50% of the paid-up share capital) for the fiscal year 2023. Upcoming Dividend • Sep 13
Upcoming dividend of ₹5.00 per share at 0.4% yield Eligible shareholders must have bought the stock before 20 September 2023. Payment date: 27 October 2023. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 0.4%. Lower than top quartile of Indian dividend payers (1.4%). Lower than average of industry peers (0.7%). Announcement • Sep 02
BEML Limited, Annual General Meeting, Sep 27, 2023 BEML Limited, Annual General Meeting, Sep 27, 2023, at 11:30 Indian Standard Time. Location: at Hotel The Lalit Ashok Bangalore Kumara Krupa Road, High Grounds Bengaluru India Agenda: To receive, consider and adopt: the Audited Financial Statement of the Company for the Financial Year ended 31st March, 2023 together with the Reports of the Board of Directors and the Auditors thereon; To confirm the payment of Interim Dividend on Equity Shares and declare a Final Dividend on Equity Shares for the Year ended 31.03.2023; To appoint a Director in place of Shri Ajit Kumar Srivastav, Director (Defence Business), who retires by rotation and being eligible, offers himself for re-appointment; To appoint a Director in place of Shri Anil Jerath, Director (Finance), who retires by rotation and being eligible, offers himself for re-appointment; To consider resolution for fixation of remuneration of Statutory Auditors for the year 2023-24. Reported Earnings • Aug 12
First quarter 2024 earnings released: ₹18.01 loss per share (vs ₹19.78 loss in 1Q 2023) First quarter 2024 results: ₹18.01 loss per share (improved from ₹19.78 loss in 1Q 2023). Revenue: ₹5.77b (down 14% from 1Q 2023). Net loss: ₹750.1m (loss narrowed 8.9% from 1Q 2023). Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Machinery industry in India. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 01
BEML Limited to Report Q1, 2024 Results on Aug 11, 2023 BEML Limited announced that they will report Q1, 2024 results on Aug 11, 2023 Announcement • Jul 06
BEML Limited Announces Resignation of Director BEML Limited has approved the proposal of premature termination of tenure of Dr. G. Jawahar from the post of Director (Human Resourse), BEML Limited on account of his resignation. Reported Earnings • May 30
Full year 2023 earnings released: EPS: ₹37.91 (vs ₹30.93 in FY 2022) Full year 2023 results: EPS: ₹37.91 (up from ₹30.93 in FY 2022). Revenue: ₹39.2b (down 9.6% from FY 2022). Net income: ₹1.58b (up 23% from FY 2022). Profit margin: 4.0% (up from 3.0% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Machinery industry in India. Over the last 3 years on average, earnings per share has increased by 35% per year whereas the company’s share price has increased by 34% per year. Announcement • May 27
Beml Limited Declares Interim Dividend The Board of Directors pf BEML Limited had declared an Interim Dividend of INR 5.00 per equity share on 10.02.2023 which was paid to the eligible shareholders. Further, the Board of Directors have recommended a final dividend of INR 5.00 per equity share (i.e. 50% of paid-up share capital) for the year ended 31.03.2023, aggregating to INR 10 per equity share (100% of paid-up share capital). Valuation Update With 7 Day Price Move • May 04
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹1,389, the stock trades at a trailing P/E ratio of 43.2x. Average forward P/E is 27x in the Machinery industry in India. Total returns to shareholders of 190% over the past three years. Announcement • Feb 18
BEML Limited Appoints Shantanu Roy as Director BEML Limited announced that Pursuant to Article 97 of the Articles of Association of the Company, the President of India has appointed Shri Shantanu Roy, as Director (Mining & Construction Business) on the Board of BEML Limited for a period of Five years with effect from February 17, 2023. Brief Profile: ‘Shri Shantanu Roy has assumed charge as Director (Mining and Construction Business) on February 17, 2023. Prior to assuming his present position, Shri Shantanu Roy was Executive Director and was responsible for International Business Division, Strategy & New initiatives, Coordination and northern region operations. Shri Shantanu Roy is a Graduate in Electrical Engineering from NIT Raipur and an MBA in Financial Management. He is having more than 30 years of extensive experience in the capital goods sectors for Defence, Mining & Construction, Transportation, Transmission, Renewable and large power projects. A Six sigma Black Belt certified professional and widely traveled, he is adept at various models of project financing, mechanisms and processes for financial closure of large projects, international laws, arbitration rules, international legal & arbitration cases and statutory & Legal Compliances. In his earlier stint as Head of BHEL's Marketing and Business Development team for Neighbouring countries, Middle East & Americas and After sales business for entire overseas operations, he was responsible for positioning BHEL in the international market for the supercritical thermal power segment with the largest ever export order of USD 1.5 billion for the 2X660 MW Maitree STPP in Bangladesh, further consolidation of BHEL's presence in Bhutan by securing orders for three major Hydroelectric Power Projects and in Nepal by securing orders for two major Hydroelectric Power Projects, entry of BHEL in subcritical thermal power segment and large Gas Turbine based power plant in the Middle East. Prior to that, he lead the production and operations for manufacturing of high voltage rotating electrical machines and traction applications at BHEL's Bhopal Unit and underwent Training on Rolling Stock electrics and rotating electrical machines in Netherlands and Germany respectively.’ Shri Shantanu Roy is not related to other Directors in the company. Announcement • Feb 17
BEML Limited to Showcase Prime Products During AERO INDIA 2023 BEML is showcasing some of its prime products during AERO INDIA 2023, the biennial mega Aero exhibition, being held at Yellahanka Airbase, Bangalore from Monday 13th Feb. to Friday 17th Feb. 2023. With the theme of `Atmanirbharata'; BEML is being to display its niche products such as Variants of Unmanned aerial vehicles (UAV) and structure of space vehicle along with critical components in the aero-space sector & Miniature Models of its defence equipment. BEML's focus at AERO Show is to showcase its capability, promote Aerospace & Defence products and to interact with potential customers and also to explore collaborations. BEML would be signing MoUs, to enter into collaborations with major players in the Defence & Aerospace Business. BEML would also be using the opportunity to network with MSMEs and Start-ups to maximize its efforts of localization /indigenization. BEML is also displaying the 25 kg Class Tactical UAV being developed indigenously in collaboration with Indian Institute of Technology, Kanpur. The UAV is intended to carry versatile payloads of 3.0 kg, such as day & night cameras. It can take off and land in short runways, fly continuously for 8 hours and has 50 kms radio range. BEML Limited, the leading multi-technology, multi-product company, is engaged in the design, development and manufacturing of a wide range of products for core sectors of economy such as Defence, Mining, Power, Infrastructure and Urban Transportation. Presently over 87% of total business is won against tough competition mainly from MNCs, while above 68% of the business comes from in- house R&D developed products. BEML Limited has exported its products to over 68 countries. Upcoming Dividend • Feb 17
Upcoming dividend of ₹5.00 per share at 0.7% yield Eligible shareholders must have bought the stock before 24 February 2023. Payment date: 12 March 2023. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of Indian dividend payers (1.6%). In line with average of industry peers (0.7%). Announcement • Feb 15
BEML Limited Appoints Bipin Kumar Gupta as Independent Director BEML Limited announced that pursuant to Article 97 of the Articles of Association of the Company, the President of India has appointed Shri Bipin Kumar Gupta has as Independent Director on the Board of the Company for the three year with effect from 10 February 2023. Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: ₹15.92 (vs ₹18.85 in 3Q 2022) Third quarter 2023 results: EPS: ₹15.92 (down from ₹18.85 in 3Q 2022). Revenue: ₹10.4b (down 8.5% from 3Q 2022). Net income: ₹663.0m (down 16% from 3Q 2022). Profit margin: 6.4% (down from 6.9% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Machinery industry in India. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Feb 11
BEML Limited Declares Interim Dividend for the Financial Year 2022-2023 BEML Limited Board of Directors has at its meeting held on February 10, 2023 declared an Interim Dividend of INR 5 per equity share (i.e. 50% of paid-up share capital) for the Financial Year 2022-2023, which will be paid to the eligible shareholders as on the record date on 24 February 2023. Announcement • Feb 01
BEML Limited to Report Q3, 2023 Results on Feb 10, 2023 BEML Limited announced that they will report Q3, 2023 results on Feb 10, 2023 Announcement • Jan 21
BEML Limited Announces Resignation of Balmuri Vanitha as Independent Director BEML Limited informed that Smt. Balmuri Vanitha, Independent Director (DIN: 08679028) on the Board of BEML Limited has ceased to be Director w.e.f. 21 January 2023 as per the terms of appointment order vide letter No. 8(2)/2014-D (BEML)-VoI-II dated 21.01.2020 issued by Government of India. Announcement • Jan 12
BEML Limited Appoints Gunaseelan Jawahar, as Director (Human Recourses) The President of India has appointed Dr. Gunaseelan Jawahar, as Director (Human Recourses) of BEML Limited. He assumed the charge of the post on January 11, 2023. Dr. Gunaseelan Jawahar is holding the degrees of BBA. MBA(HR), BL. and PHD. Before joining REML . he worked as Executive Director in Power Finance Corporation at New Delhi. Prior to that he worked in N HPC and Power Grid Corporation of India. He has a rich & varied experience of 33 years in Public Sector with wide exposure in all aspect s of Managing Human Resources, Devised Innovative Pol ices and Strategies, Evolving performance management System including reward and recognitio n system. Managed and implemented the scheme for Performance Related Pay. Managing Employee relations. revision of Pay and compensation management for all level s of employees. Conducted Il R audit for the first time in the corporation and suggestions given for the improvement of Il R function as a whole. designed and conducted training and development programmes for all the employees. has been a faculty a nd facilitator on a Programme titled 'Train the Trainer', ' Emotional Intelligence' . ' Negotiation and conflictre solution ", Redressal of employee grievances, compliance of labour law s, Management of Contract employees and outsourced staff, etc. With this richexperience, Dr Gunaseelan will add value to BEML. Price Target Changed • Nov 16
Price target increased to ₹2,000 Up from ₹1,600, the current price target is provided by 1 analyst. New target price is 34% above last closing price of ₹1,497. Stock is down 9.0% over the past year. The company posted earnings per share of ₹30.93 last year. Board Change • Nov 16
High number of new and inexperienced directors There are 8 new directors who have joined the board in the last 3 years. The company's board is composed of: 8 new directors. No experienced directors. No highly experienced directors. Independent Woman Director Balmuri Vanitha is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Nov 10
Second quarter 2023 earnings released: EPS: ₹3.90 (vs ₹2.56 in 2Q 2022) Second quarter 2023 results: EPS: ₹3.90 (up from ₹2.56 in 2Q 2022). Revenue: ₹8.06b (down 19% from 2Q 2022). Net income: ₹162.6m (up 53% from 2Q 2022). Profit margin: 2.0% (up from 1.1% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Announcement • Oct 29
BEML Limited Announces Shri M V Rajasekhar Will Cease to Be A Director BEML Limited informed that tenure of Shri M V Rajasekhar, Director (Mining & Construction Business) DIN:08467141 on the Board of BEML Limited will come to an end on 31.10.2022 owing to superannuation, as per terms of appointment issued by Government of India vide letter ref. No. 8(1)/2018-D(BEML) dated 01.08.2019. Accordingly, Shri M V Rajasekhar will cease to be a Director on the board of BEML Limited w.e.f the close of business hours on 31.10.2022. Announcement • Sep 24
BEML Limited Approves the Final Dividend for the Year 2021-2022 BEML Limited announced that at the AGM was held on September 23, 2022, the company approved the Interim Dividend on Equity shares INR 5 per equity share (i.e. 50% of the paid up share capital) paid to the shareholders and declaration of the Final Dividend INR 5 per equity share (i.e. 50% of the paid up share capital) for the year 2021-22. Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₹1,558, the stock trades at a trailing P/E ratio of 46.3x. Average trailing P/E is 26x in the Machinery industry in India. Total returns to shareholders of 97% over the past three years. Valuation Update With 7 Day Price Move • Aug 11
Investor sentiment improved over the past week After last week's 24% share price gain to ₹1,782, the stock trades at a trailing P/E ratio of 52.9x. Average trailing P/E is 26x in the Machinery industry in India. Total returns to shareholders of 137% over the past three years. Reported Earnings • Aug 05
First quarter 2023 earnings released: ₹19.78 loss per share (vs ₹22.57 loss in 1Q 2022) First quarter 2023 results: ₹19.78 loss per share (up from ₹22.57 loss in 1Q 2022). Revenue: ₹6.70b (up 49% from 1Q 2022). Net loss: ₹823.6m (loss narrowed 12% from 1Q 2022). Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 20% per year. Announcement • Jul 22
BEML Limited to Report Q1, 2023 Results on Aug 04, 2022 BEML Limited announced that they will report Q1, 2023 results on Aug 04, 2022 Announcement • Jul 12
BEML Limited Announces Cessation of Arvind Kumar Arora as Director BEML Limited announced that Shri Arvind Kumar Arora, Independent Director on the Board of BEML Limited has ceased to be Director with effect from July 10, 2022. Reported Earnings • May 30
Full year 2022 earnings released: EPS: ₹30.88 (vs ₹16.55 in FY 2021) Full year 2022 results: EPS: ₹30.88 (up from ₹16.55 in FY 2021). Revenue: ₹43.4b (up 22% from FY 2021). Net income: ₹1.29b (up 87% from FY 2021). Profit margin: 3.0% (up from 1.9% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Announcement • May 28
BEML Limited Recommends A Final Dividend for the Year Ended March 31, 2022 BEML Limited noted the Board of Directors have recommended a final dividend of INR 5.00 per equity share (i.e. 50% of paid-up share capital) for the year ended March 31, 2022 aggregating to INR 10.00 per equity share (100% of paid-up share capital). Price Target Changed • Apr 27
Price target increased to ₹2,000 Up from ₹1,600, the current price target is provided by 1 analyst. New target price is 19% above last closing price of ₹1,677. Stock is up 42% over the past year. The company posted earnings per share of ₹16.55 last year. Board Change • Apr 27
High number of new and inexperienced directors There are 10 new directors who have joined the board in the last 3 years. The company's board is composed of: 10 new directors. No experienced directors. No highly experienced directors. Director of Mining & Construction and Director M. Rajasekhar is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment improved over the past week After last week's 20% share price gain to ₹1,817, the stock trades at a trailing P/E ratio of 49.4x. Average trailing P/E is 23x in the Machinery industry in India. Total returns to shareholders of 89% over the past three years. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₹1,470, the stock trades at a trailing P/E ratio of 40x. Average trailing P/E is 24x in the Machinery industry in India. Total returns to shareholders of 80% over the past three years. Reported Earnings • Feb 11
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹18.85 (up from ₹6.64 in 3Q 2021). Revenue: ₹11.7b (up 61% from 3Q 2021). Net income: ₹785.1m (up 184% from 3Q 2021). Profit margin: 6.7% (up from 3.8% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Nov 29
Investor sentiment improved over the past week After last week's 19% share price gain to ₹1,875, the stock trades at a trailing P/E ratio of 76.3x. Average trailing P/E is 22x in the Machinery industry in India. Total returns to shareholders of 157% over the past three years.