NSE: BEML · BSE: 500048 · ISIN INE258A01024
BEML Limited stock analysis
BEML Limited ranks #2429 in the TickerSutra evidence-ranked universe with a score of 46/100 and 95% data confidence. The latest captured fundamentals show ROCE of 7.7%, quarterly sales growth of 29.3% and quarterly profit growth of 57.9%.Avoid / exit review
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- Low debt/equity of 0.11×
- CWIP indicates an active capacity pipeline
- No promoter shares are reported as pledged
Risks and constraints
- CFO/EBITDA is below 0.6×
- Operating margin has compressed materially
- Valuation is above 40× earnings
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹4,337cr | ₹325cr | ₹129cr | 8.0% |
| 2023 | ₹3,899cr | ₹369cr | ₹158cr | 9.0% |
| 2024 | ₹4,054cr | ₹445cr | ₹282cr | 11.0% |
| 2025 | ₹4,022cr | ₹506cr | ₹293cr | 13.0% |
| 2026 | ₹4,351cr | ₹299cr | ₹141cr | 7.0% |
| TTM | ₹4,536cr | ₹350cr | ₹178cr | 8.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
Proceedings of the 62nd Annual General Meeting
RoutineShareholders meetingNSE · 29 Sept 2026BEML Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 29, 2026
RoutineTrading WindowBSE · 25 Sept 2026BEML Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
RoutineBEML Ltd - 500048 - Announcement under Regulation 30 (LODR)-Appointment of Statutory Auditor/sBSE · 22 Sept 2026Appointment of Statutory Auditor
RoutineChange in Directors/KMP/SMP/Auditor/RTANSE · 22 Sept 2026BEML Limited has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA
MANAGEMENT COMMENTARY
Signals from filed documents
Despite facing global challenges, including delays in the receipt of domestic orders, the Group demonstrated resilience and adaptability. The timely receipt of export orders provided crucial support, helping to sustain momentum and reinforce our presence in international markets. Our Rail & Metro Business Group contributed 24% to the Company’s total sales during the year, despite challenging conditions arising from s
Export Potential India’s push for mining equipment exports under Viksit Bharat creates opportunities for BEML to supply dozers and excavators to emerging markets in Africa and Southeast Asia. Rail & Metro: Metro Expansion Projects With new metro lines planned in Tier-1 and Tier- 2 cities, BEML can supply metro cars, EMUs, and stainless-steel coaches, strengthening its market leadership. Indigenous Rolling Stock
The Company's strategic focus will remain centred on timely execution of its large order book, disciplined cost management, supply chain resilience, technological innovation and enhanced customer engagement. Supported by a strong executable order book, improving project execution, stabilized supply chains and the benefits of operating leverage, BEML is well positioned to achieve sustainable revenue growth together wi
Capital expenditure during the year reached record levels of Rs. with investments in modern production facilities, testing infrastructure, manufacturing automation and capacity expansion. These investments are expected to improve productivity , reduce manufacturing cycle times and support execution of increasingly sophisticated projects.
Furthermore, BEML ’s focus on surface miners positions it to capture opportunities in selective mining applications, offering efficiency and reduced environmental impact. Together , these initiatives highlight BEML ’s comprehensive strategy to seize opportunities in the mining and construction sector , reinforcing its role as a key contributor to India’s self-reliance and export growth. Defence & Aerospace: In FY 202
This improvement is expected to be driven by higher manufacturing utilization, better absorption of fixed costs, improved execution efficiency , stabilization of supply chains, enhanced product mix and continued cost optimization initiatives. The Company's margin expansion strategy is therefore closely linked to execution excellence rather than pricing alone. As larger orders move into the production phase and manufa
• To enhance transparency in all its procurement processes, BEML has well established e-Procurement Portal. Further , as per the directives of Ministry of Defence, BEML has framed an “Outsourcing and Vendor Development Policy” duly approved by the Board. The objective of the policy is to enhance cost effectiveness and improve competitiveness of the Company in Global market.
Green R&D, renewable integration, emission compliance. Positive – new contracts, regulatory advantage. 7 Governance & Transparency Opportunity Strong risk governance builds investor trust.
(xxi) There are no outstanding Bonds/ Debenture/ Commercial Paper at the end of financial year . (xxii) During year , company has not raised fund through preferential allotment or qualified institutional placement. (xxiii) Credit Rating on Working Capital facilities/ Debt Securities: (a) M/s Care Ratings have reaffirmed CARE AA-; Stable/CARE A1+ for fund-based facilities (Short term borrowings) and CARE AA-; Stable f
Out of 205703 shareholders, about 198133 shareholders constituting about 96.32% have registered their e-mail IDs as on 31.03.2026 with the depositories for communication purpose to whom the notice, annual reports, dividend communication etc., can be sent in e-mode. We are confident that the shareholders will appreciate the “Green Initiative” taken by MCA and more and more would give consent for this noble cause of co
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
DIRECTOR & BUSINESS NETWORK
Loading corporate intelligence
Loading universe coverage and exchange-backed evidence…