BEML: has track record of six decades and has been supplying products and services to reputed clients including Coal India Limited, Ministry of Defence, and metro rail corporations among others

  • BEML FY 25 PAt growth 4% @ 294 cr
  • MAJOR ACHIEVEMENTS DURING 2024-25
  • Highest ever order book of Rs. 14610 Crore
  • Highest ever profit before tax (PBT) of Rs. 405.43 Crore
  • Designed & Developed High Mobility Vehicle HMV12x12 for Strategic Weapon Systems
  • Designed and Developed and fielded for NCNC trial
  • Self propelled Mine Burrier (SPMB) and obtained clearance
  • First of its kind Air cooled Engine based Rigid Axle HMV for Towing Artillery Guns
  • Design & Developed HMV 6x6 with armored cabin for Mounted Gun System
  • 1500 hp Engine program entered next phase of development with 1st engine sent to UK for Mechanical & Combustion development
  • Supplied 1st Vande Bharat Sleeper Trains and completed trials successfully
  • Secured order for Design & Development and Supply of Metro Trains for Bangalore Metro & Chennai Metro
  • Secured order for Design & Development and Supply High Speed Train for Indian Railways   
  • BEML: has track record of six decades and has been supplying products and services to reputed clients including Coal India Limited, Ministry of Defence, and metro rail corporations among others


  • Established and long track record of operations 
    • Established in May 1964, Beml is an established player with wide range of products in segments such as mining & construction (M&C), defence & aerospace (D&A) and rail & metro (R&M). 
    • The company has track record of six decades and has been supplying products and services to reputed clients including Coal India Limited, Ministry of Defence, and metro rail corporations among others. 
    • Its products are also exported to over 72 countries. 
    • Over 75% of Beml’s business are on competition mode. 
    • In FY25, the M&C segment contributed ~54% revenue (PY: 42%), followed by D&A at 27% (PY: 19%) and balance by R&M at 19% (PY:39%). 
  • Experienced management team and majority stake owned by GOI 
    • Beml’s leadership team comprises well-qualified and experienced personnel. Shantanu Roy assumed charge as Chairman and Managing Director, Beml, on August 01, 2023. Earlier, Shantanu Roy was Director (M&C business). 
      • He is an electrical engineering graduate from NIT Raipur and holds an MBA in financial management. 
      • He has over 30 years of extensive experience in the capital goods sectors for defence, M&C, transportation, transmission, renewable and large power projects. He is supported by wellexperienced directors for over three decades. Beml has one Government nominee director and three independent directors. 
    • As on June 30, 2025, the President of India (through the Ministry of Defence) holds 54.03% of the company's total equity share capital. 
    • However, GOI has ‘in-principle’ decided to disinvest 26% equity share capital of Beml through strategic disinvestment with transfer of management control. 
    • The progress and impact of this would be a key monitorable in the future. 
    • Reputed client base with a focus on indigenisation through in-house R&D Beml’s client base consists of major government organisations and public sector undertakings (PSUs) including Coal India Limited, Ministry of Defence, metro rail corporation among others. 
    • Beml has repeat orders, specifically in R&M segment, owing to its track record in providing products and services to metro rail corporations. 
  • Beml has been manufacturing products through technology transfer and have systematically indigenised products over the years. 
    • The company had spent ₹100.68 crore on R&D in FY25, which is ~2.56% of its turnover. 
    • Comfortable order book position Beml’s order book as on April 01, 2025, stood at ₹14,610 crore against ₹11,872 crore in the previous year, improved by over 23%. 
    • The order book is spread across three major business verticals with R&M comprising the highest share of 63% (₹9,200 crore) followed by D&A 28% (₹4,155 crore) and the balance 9% (₹1,254 crore) by M&C. 
    • This translates to almost three years of orders to be executed considering turnover of FY25. 
    • While orders from R&M and D&A are to be serviced by FY27, as they have longer execution time period, for M&C, execution time is ~2-3 months. 
    • CareEdge Ratings expects that the company’s order book position will remain robust with orders coming from all three segments despite growth in the R&M segment is anticipated to be higher.


BEML: securing orders for Metro Car projects     

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