BEML Ltd.

•

bemlindia.inBSE: 500048NSE: BEML

Market Cap₹ 16,858 Cr.

Current Price

High / Low₹ 2,276 / 1,355

Stock P/E94.5

Book Value₹ 349

Price to Book3.88

Dividend Yield0.84 %

ROCE7.9 %

ROE4.9 %

Face Value₹ 5

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ABOUT

KEY POINTS

Revenue Breakup Mar 2015 • Mining & Construction: 58.7% • Railway Customers: 35.4% • Defence Customers: 5.7%

AI Sector View

AI GENERATED

Capital Goods

Buy

Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.

Confidence

72%

View full sector analysis →

PROS

Company is almost debt free
Company has consistently been profitable over the last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 0.94x)
Company has a consistent dividend-paying track record

CONS

Recent results are weak - TTM profit is down 60.1% versus prior year
Receivables are growing faster than sales - a possible quality concern
Company has a low return on equity of 8.8% over last 3 years
Valuation is stretched - P/E of 94.5 is well above its own 5-year median (47.0)
Company has delivered a poor sales growth of 3.9% over past five years
Total debt has risen sharply - up 33.7% year on year

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Capital GoodsCapital GoodsConstruction Vehicles

Part ofNIFTY TOTAL MKT NIFTY 500 NIFTY SMLCAP 250

S.No.	Name
1.	BEML	2024.05	94.46	16858.11	0.84	-27.01	57.87	819.62	29.28	7.94	0.24
2.	ACE	1129.40	30.79	13449.26	0.18	1194.90	1122.78	7856.80	1104.88	31.80	15.00
3.	SANGHVIMOV	427.25	18.56	3698.96	0.47	65.25	29.84	379.67	38.89	16.24	33.05

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	577	917	1,047	1,514	634	860	876	1,653	634	839	1,083	1,794	820
	627	855	991	1,143	684	787	815	1,230	683	766	1,080	1,523	855
Operating Profit	-51	61	56	370	-50	73	60	423	-49	73	4	272	-35
OPM %	-8.76%	6.70%	5.34%	24.47%	-7.91%	8.48%	6.89%	25.57%	-7.77%	8.72%	0.33%	15.13%	-4.31%
	1	7	34	5	1	15	5	4	9	7	4	10	2
Interest	10	11	8	11	9	16	17	13	10	10	12	14	14
Depreciation	16	16	16	17	17	17	19	19	20	20	21	22	23
Profit before Tax	-75	42	67	348	-75	55	30	395	-70	50	-25	245	-34
Tax %	-0.00%	-22.76%	27.90%	26.12%	6.51%	6.78%	17.48%	27.17%	8.78%	4.51%	11.92%	26.59%	19.90%
Net Profit	-75	52	0	0	-70	51	24	288	-64	48	-22	180	-27
	-18.01	12.43	11.57	61.66	-16.92	12.25	2.93	69.05	-15.40	11.53	-2.69	21.59	-3.24

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	2,494	3,239	3,474	3,025	3,597	4,337	3,899	4,054	4,022	4,351	4,536
	2,341	2,980	3,261	2,966	3,410	4,003	3,524	3,601	3,508	4,045	4,223
Operating Profit	153	259	214	60	187	334	375	454	514	305	313
OPM %	6.14%	8.00%	6.15%	1.97%	5.19%	7.70%	9.62%	11.19%	12.79%	7.02%	6.90%
	63	25	55	79	20	6	24	42	24	29	22
Interest	55	55	67	47	48	74	57	50	63	52	49
Depreciation	63	65	71	72	71	66	64	64	71	83	87
Profit before Tax	98	164	130	19	87	200	278	382	404	200	236
Tax %	13.74%	20.96%	51.58%	-228.87%	21.14%	35.62%	43.15%	26.16%	27.55%	29.16%	24.42%
Net Profit	85	130	63	64	69	129	158	282	293	141	178
EPS	20.36	31.14	15.17	15.29	16.50	30.88	37.91	67.67	70.26	17.00	—
Dividend Payout %	39.31%	25.69%	46.14%	39.14%	36.26%	32.33%	26.37%	30.29%	30.18%	100.60%	—

COMPOUNDED SALES GROWTH

10 Years:: 4%
5 Years:: 4%
3 Years:: 4%

COMPOUNDED PROFIT GROWTH

10 Years:: 8%
5 Years:: 15%
3 Years:: -4%

STOCK PRICE CAGR

10 Years:: 14%
5 Years:: 25%
3 Years:: 21%
1 Year:: 0%

RETURN ON EQUITY

10 Years:: 6%
5 Years:: 8%
3 Years:: 9%
Last Year:: 5%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	42	42	42	42	42	42	42	42	42	42
Minority Interest	0	0	0	0	-0	-0	-0	-0	-0	-1
	2,141	2,159	2,146	2,211	2,173	2,315	2,380	2,626	2,846	2,892
	768	774	736	1,332	1,864	1,904	927	715	1,068	1,222
Trade Payables	501	540	767	663	742	561	678	760	710	1,024
	1,143	1,065	1,204	614	748	734	875	1,190	1,106	1,660
Total Liabilities	4,594	4,580	4,895	4,861	5,568	5,555	4,902	5,332	5,771	6,839
	583	595	631	621	601	621	505	528	580	684
Capital Work in Progress	79	68	25	15	9	6	9	37	107	276
	0	0	0	0	0	0	0	0	6	8
	1,979	1,807	1,710	2,008	1,975	2,073	2,061	2,256	2,379	2,338
	0	0	0	0	0	0	0	1,439	1,696	2,274
Cash & Bank	15	2	31	28	5	34	39	9	5	37
	1,937	2,108	2,497	2,189	2,977	2,821	2,287	1,063	998	1,222
Total Assets	4,594	4,580	4,895	4,861	5,568	5,555	4,902	5,332	5,771	6,839

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	127	146	282	33	-290	86	650	458	99	118
Cash from Investing	-59	-62	-62	-51	-49	-25	-20	-68	-210	-354
Cash from Financing	-160	-101	-129	3	-177	-10	-331	-130	107	238
	-11	-33	65	57	-527	16	208	260	-4	2

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	54.03	54.03	54.03	54.03	54.03	54.03	54.03	54.03	54.03
	6.76	5.66	7.41	7.25	5.67	5.82	5.51	5.59	5.48
	20.14	18.51	18.09	18.68	18.79	18.53	18.38	18.70	19.39
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	19.07	21.79	20.46	20.02	21.52	21.61	22.08	21.68	21.11

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-04

Copy of Newspaper Publication

2026-09-04 - BEML Limited has informed the Exchange about Copy of Newspaper Publication

2026-09-03

Record Date

2026-09-03 - BEML Limited has informed the Exchange that Record date for the purpose of Dividend & Meeting is 22-Sep-2026.

2026-09-03

Shareholders meeting

2026-09-03 - BEML Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 29, 2026

2026-09-02

Bagging/Receiving of orders/contracts

2026-09-02 - BEML Limited has informed the Exchange about Bagging/Receiving of orders/contracts

2026-08-31

Cessation

2026-08-31 - BEML Limited has informed the Exchange regarding Cessation of Mr Shivakumar HG, ED(Offg.)- FPIIC of the company w.e.f. August 31, 2026.

2026-08-31

Cessation

2026-08-31 - BEML Limited has informed the Exchange regarding Cessation of Mr Shri Anil Jerath as Executive Director of the company w.e.f. August 31, 2026.

2026-08-21

Appointment

2026-08-21 - BEML Limited has informed the Exchange regarding Appointment of Independent Directors on the Board of M/s. BEML Limited.

2026-08-19

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-19 - BEML Limited has informed the Exchange about Transcript

2026-08-18

Appointment

2026-08-18 - BEML Limited has informed the Exchange that Pursuant to Article 95 and 97(1) & (2) of the Articles of Association of the Company, vide letter dated 18.08.2026, the President of India has appointed the following persons as Independent Directors (IDs) (Non-Official Directors) on the Board of Company:1. Smt. Promila Kundara 2. Shri Shankar Lal Agrawal 3. Shri Karunakaran Nambiar K Detail as required under schedule III, part A, para A (7) of SEBI (LODR) Regulation, 2015 including DIN will be communicate to Exchange upon receipt from the respective persons.This is a preliminary information.

News

Recent coverage and analyst commentary for BEML

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BEML Ltd.

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Name

BEML

2024.05

94.46

16858.11

0.84

-27.01

57.87

819.62

29.28

7.94

0.24

ACE

1129.40

30.79

13449.26

0.18

1194.90

1122.78

7856.80

1104.88

31.80

15.00

SANGHVIMOV

427.25

18.56

3698.96

0.47

65.25

29.84

379.67

38.89

16.24

33.05

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

577

917

1,047

1,514

634

860

876

1,653

634

839

1,083

1,794

820

627

855

991

1,143

684

787

815

1,230

683

766

1,080

1,523

855

Operating Profit

-51

370

-50

423

-49

272

-35

OPM %

-8.76%

6.70%

5.34%

24.47%

-7.91%

8.48%

6.89%

25.57%

-7.77%

8.72%

0.33%

15.13%

-4.31%

Interest

Depreciation

Profit before Tax

-75

348

-75

395

-70

-25

245

-34

Tax %

-0.00%

-22.76%

27.90%

26.12%

6.51%

6.78%

17.48%

27.17%

8.78%

4.51%

11.92%

26.59%

19.90%

Net Profit

-75

-70

288

-64

-22

180

-27

-18.01

12.43

11.57

61.66

-16.92

12.25

2.93

69.05

-15.40

11.53

-2.69

21.59

-3.24

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

2,494

3,239

3,474

3,025

3,597

4,337

3,899

4,054

4,022

4,351

4,536

2,341

2,980

3,261

2,966

3,410

4,003

3,524

3,601

3,508

4,045

4,223

Operating Profit

153

259

214

187

334

375

454

514

305

313

OPM %

6.14%

8.00%

6.15%

1.97%

5.19%

7.70%

9.62%

11.19%

12.79%

7.02%

6.90%

Interest

Depreciation

Profit before Tax

164

130

200

278

382

404

200

236

Tax %

13.74%

20.96%

51.58%

-228.87%

21.14%

35.62%

43.15%

26.16%

27.55%

29.16%

24.42%

Net Profit

130

129

158

282

293

141

178

EPS

20.36

31.14

15.17

15.29

16.50

30.88

37.91

67.67

70.26

17.00

—

Dividend Payout %

39.31%

25.69%

46.14%

39.14%

36.26%

32.33%

26.37%

30.29%

30.18%

100.60%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

Minority Interest

-0

-1

2,141

2,159

2,146

2,211

2,173

2,315

2,380

2,626

2,846

2,892

768

774

736

1,332

1,864

1,904

927

715

1,068

1,222

Trade Payables

501

540

767

663

742

561

678

760

710

1,024

1,143

1,065

1,204

614

748

734

875

1,190

1,106

1,660

Total Liabilities

4,594

4,580

4,895

4,861

5,568

5,555

4,902

5,332

5,771

6,839

583

595

631

621

601

621

505

528

580

684

Capital Work in Progress

107

276

1,979

1,807

1,710

2,008

1,975

2,073

2,061

2,256

2,379

2,338

1,439

1,696

2,274

Cash & Bank

1,937

2,108

2,497

2,189

2,977

2,821

2,287

1,063

998

1,222

Total Assets

4,594

4,580

4,895

4,861

5,568

5,555

4,902

5,332

5,771

6,839

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

127

146

282

-290

650

458

118

Cash from Investing

-59

-62

-51

-49

-25

-20

-68

-210

-354

Cash from Financing

-160

-101

-129

-177

-10

-331

-130

107

238

-11

-33

-527

208

260

-4

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

54.03

6.76

5.66

7.41

7.25

5.67

5.82

5.51

5.59

5.48

20.14

18.51

18.09

18.68

18.79

18.53

18.38

18.70

19.39

Government

0.00

19.07

21.79

20.46

20.02

21.52

21.61

22.08

21.68

21.11

BEML Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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BEML Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI