Whalesbook
Toh bhaiyo aur behno, BEML Land Assets ne finally land se paisa banaana shuru kar diya hai!
FY26 mein company ne ₹0.98 Crore ka revenue generate kiya hai, mainly Mysore aur Bangalore mein apni land ko lease par dekar. Aur iss quarter mein ₹0.01 Crore ka profit bhi dikhaya hai, jo last year ke ₹3.75 Crore ke loss se kaafi zyada improvement hai. Q4 FY26 mein bhi ₹0.98 Crore revenue aur ₹0.50 Crore ka profit dekha gaya, jabki pichle saal isi time koi revenue nahi tha aur ₹0.42 Crore ka loss tha.
Ek aur important baat yeh hai ki ₹3.24 Crore ke Deferred Tax Asset ko recognise karne se profitability mein kafi help mili hai.
Ye company ke liye ek bada milestone hai, kyunki ab land ko monetize karne ka core business start ho gaya hai. Chhota hi sahi, par progress toh dikh rahi hai!
Lekin, ab ek bahut badi problem hai. Company mein governance ke naam par kuch bhi nahi hai, bhai! Na koi independent director hai aur na hi koi audit committee. Iski wajah se stock exchanges ne company par ₹270.46 Lakhs ki heavy penalties laga di hain. Plus, company ki 'Other Equity' ₹4,052 Lakhs negative mein hai, jo dikhata hai ki kitne zyada losses accumulate ho chuke hain.
Yaad hai na, BEML Land Assets ko BEML Ltd ki surplus land ko unlock karne ke liye banaya gaya tha. Toh investors ko pehla tangible sign mila hai revenue ka, par yeh sustainable hoga kya bina governance issues solve kiye, yeh bada sawaal hai. Investment properties ki fair value ₹2,325 Crore hai, par abhi toh sirf land lease se thoda-thoda paisa aa raha hai. Auditor ne bhi note kiya hai ki land leasing ke alawa abhi kuch start nahi hua hai. Baki developers jaise DLF, Sobha se compare karein toh ye scale bahut hi chhota hai.
Ab dekhna yeh hai ki company governance violations ko kaise theek karti hai aur future mein land deals se kitna kama paati hai. Aur kya woh apni negative 'Other Equity' position ko improve kar paayegi, yeh bhi important hoga.