BEML Ltd manufactures a wide range of heavy earthmoving equipment catering to the mining and construction industry, vehicles for defense forces and coaches for the metro and Indian Railways.[1]
Industries Served[1]Defence & Aerospace, Coal, Mining, Steel, Cement, Power, Irrigation, Construction, Infrastructure, Railways and Metro Transportation System.
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | BEML Ltd | 1786.00 | 49.02 | 14875.40 | 0.58 | 54.80 | 6.59 | 839.09 | -2.41 | 16.07 | 4001.38 | 12.70 | 303.70 | 54.80 | 5.39 | 5.05 | 0.24 |
| 2. | Action Const.Eq. | 850.85 | 24.24 | 10132.24 | 0.23 | 90.06 | -5.01 | 744.24 | -1.65 | 40.11 | 3232.42 | 15.48 | 418.01 | 90.05 | 5.65 | 16.70 | 0.08 |
| 3. | Ajax Engineering | 567.20 | 25.85 | 6489.15 | 0.00 | 39.07 | 14.81 | 444.81 | 47.79 | 33.58 | 2215.26 | 13.79 | 251.03 | 39.07 | 5.19 | 19.14 | 0.00 |
| 4. | TIL | 251.00 | – | 1671.70 | 0.00 | -7.73 | -261.21 | 78.27 | 15.72 | 11.08 | 321.84 | 2.51 | -7.89 | -7.73 | 20.02 | 0.11 | 3.79 |
| 5. | Brady & Morris | 860.00 | 40.31 | 193.52 | 0.00 | 0.48 | -80.25 | 12.99 | -44.53 | 25.40 | 79.15 | 9.03 | 4.80 | 0.48 | 3.92 | 13.13 | 0.12 |
| – | Median: 5 Co. | 850.85 | 33.08 | 6489.15 | 0.0 | 39.07 | -5.01 | 444.81 | -1.65 | 25.4 | 2215.26 | 12.7 | 251.03 | 39.07 | 5.39 | 13.13 | 0.12 |
Standalone figures in ₹ crores
| Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 805 | 1,037 | 1,388 | 577 | 917 | 1,047 | 1,514 | 634 | 860 | 876 | 1,653 | 634 | 839 |
Expenses | 763 | 947 | 1,101 | 627 | 858 | 991 | 1,143 | 684 | 787 | 815 | 1,230 | 682 | 766 |
Operating Profit | 42 | 89 | 287 | -50 | 59 | 56 | 370 | -50 | 73 | 60 | 423 | -48 | 73 |
Other Income | 1 | 5 | 19 | 1 | 10 | 34 | 5 | 1 | 15 | 5 | 4 | 7 | 7 |
Profit before tax | 16 | 67 | 278 | -75 | 42 | 67 | 348 | -75 | 55 | 30 | 395 | -70 | 50 |
Tax % | 0% | 0% | 43% | 0% | -23% | 28% | 26% | -7% | 7% | 17% | 27% | -9% | -9% |
Net Profit | 16 | 67 | 158 | -75 | 52 | 48 | 257 | -70 | 51 | 25 | 288 | -64 | 55 |
EPS in Rs | 1.96 | 7.99 | 18.99 | -8.96 | 6.26 | 5.81 | 30.87 | -8.41 | 6.17 | 2.97 | 34.58 | -7.67 | 6.58 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 2,912 | 2,809 | 2,981 | 2,499 | 3,246 | 3,481 | 3,029 | 3,597 | 4,337 | 3,899 | 4,054 | 4,022 | 4,001 |
Expenses | 2,782 | 2,735 | 2,833 | 2,347 | 2,994 | 3,244 | 2,942 | 3,406 | 3,999 | 3,522 | 3,600 | 3,507 | 3,493 |
Operating Profit | 129 | 74 | 148 | 152 | 251 | 237 | 87 | 191 | 339 | 377 | 454 | 515 | 508 |
Other Income | 60 | 60 | 42 | 62 | 25 | 23 | 49 | 20 | 7 | 22 | 43 | 25 | 23 |
Interest | 127 | 76 | 56 | 54 | 48 | 59 | 40 | 48 | 74 | 57 | 50 | 63 | 49 |
Depreciation | 54 | 52 | 56 | 62 | 64 | 70 | 71 | 71 | 66 | 64 | 64 | 71 | 77 |
Profit before tax | 9 | 7 | 78 | 98 | 164 | 131 | 24 | 93 | 206 | 279 | 383 | 405 | 405 |
Net Profit | 5 | 7 | 64 | 84 | 129 | 63 | 68 | 75 | 135 | 159 | 283 | 294 | 304 |
EPS in Rs | 0.56 | 0.81 | 7.64 | 10.14 | 15.54 | 7.62 | 8.21 | 8.98 | 16.16 | 19.06 | 33.98 | 35.32 | 36.46 |
Dividend Payout % | 89% | 62% | 26% | 40% | 26% | 46% | 37% | 34% | 31% | 26% | 30% | 28% | – |
Standalone figures in ₹ crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 42 | 42 | 42 | 42 | 42 | 42 | 42 | 42 | 42 | 42 | 42 | 42 | 42 |
Reserves | 2,038 | 2,035 | 2,087 | 2,140 | 2,158 | 2,145 | 2,215 | 2,183 | 2,265 | 2,353 | 2,601 | 2,812 | 2,734 |
Borrowings | 956 | 643 | 568 | 436 | 445 | 402 | 339 | 752 | 832 | 381 | 71 | 229 | 666 |
Other Liabilities | 1,784 | 1,915 | 1,716 | 2,129 | 2,087 | 2,485 | 2,562 | 2,873 | 2,624 | 2,304 | 2,853 | 2,928 | 2,463 |
Total Liabilities | 4,819 | 4,635 | 4,413 | 4,746 | 4,733 | 5,074 | 5,158 | 5,849 | 5,763 | 5,081 | 5,566 | 6,011 | 5,905 |
Fixed Assets | 499 | 469 | 544 | 571 | 583 | 620 | 611 | 591 | 551 | 501 | 524 | 576 | 599 |
Gross Block | 1,200.62 | 1,226.27 | 597.89 | 682.94 | 755.97 | 859.00 | 919.55 | 968.53 | 987.63 | 988.73 | 1,073.46 | 1,186.48 | – |
Accumulated Depreciation | 701.93 | 757.56 | 53.44 | 112.08 | 173.12 | 239.13 | 308.62 | 377.06 | 436.25 | 487.74 | 549.55 | 610.70 | – |
CWIP | 173 | 192 | 104 | 79 | 68 | 25 | 15 | 14 | 14 | 23 | 37 | 107 | 171 |
Investments | 4 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 8 | 8 |
Other Assets | 4,144 | 3,971 | 3,761 | 4,093 | 4,079 | 4,426 | 4,530 | 5,241 | 5,195 | 4,555 | 5,003 | 5,320 | 5,126 |
Total Assets | 4,819 | 4,635 | 4,413 | 4,746 | 4,733 | 5,074 | 5,158 | 5,849 | 5,763 | 5,081 | 5,566 | 6,011 | 5,905 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | 394 | 548 | 80 | 208 | 128 | 257 | 104 | 1,769 | 49 | 565 | 457 | 172 |
Cash from Investing Activity | -28 | -36 | -33 | -59 | -62 | -61 | -50 | -2,122 | -29 | -42 | -67 | -194 |
Cash from Financing Activity | -427 | -384 | -104 | -160 | -100 | -129 | 3 | -176 | -10 | -309 | -130 | -140 |
Net Cash Flow | -61 | 128 | -57 | -11 | -34 | 67 | 58 | -529 | 11 | 214 | 260 | -162 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 123 | 129 | 148 | 209 | 186 | 169 | 182 | 191 | 157 | 116 | 130 | 154 |
Inventory Days | 471 | 453 | 370 | 606 | 389 | 327 | 479 | 372 | 328 | 369 | 418 | 462 |
Days Payable | 82 | 125 | 87 | 149 | 112 | 140 | 150 | 133 | 85 | 116 | 132 | 129 |
Cash Conversion Cycle | 511 | 457 | 431 | 666 | 463 | 356 | 510 | 431 | 400 | 369 | 416 | 487 |
Working Capital Days | 254 | 243 | 246 | 316 | 245 | 231 | 337 | 292 | 244 | 238 | 262 | 296 |
ROCE % | 4% | 3% | 5% | 6% | 8% | 7% | 2% | 5% | 9% | 11% | 16% | 16% |
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Stock Analysis
BEML Limited, a public sector undertaking, manufactures heavy earthmoving equipment for mining and construction, vehicles for defense, and coaches for railways and metro systems.
BEML has secured substantial orders, including a ₹1888 crore order from Integral Coach Factory for LHB coaches and a ₹414 crore order from BMRCL for trainsets. Strategic MoUs for defence programs and collaborations in new mobility sectors also contribute to its growth prospects.
As of June 30, 2025, BEML's order book stood at ₹14,429 crore. The company has set a growth target of 25% for FY25-26 and aims to further strengthen its order book with new domestic and international contracts.
The company reported a net loss in Q1 FY26 and a negative interest coverage ratio, indicating financial strain. While Q2 FY26 showed improved standalone PAT, the consolidated PAT decline and YoY revenue dip in the same quarter are points to monitor.
Key past events include the 61st Annual General Meeting on September 29, 2025, where resolutions including share sub-division were approved. The company also conducted board meetings in August and November 2025 to consider financial results.
Corporate Announcements
