BEML Ltd.

NSE: BEML · Construction Vehicles

52W Range₹1,355 ₹4,552

Snapshot

Unlock BEML Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

BEML Limited is a diversified Indian public sector undertaking that manufactures a wide range of heavy equipment for the mining, construction, rail, metro, and defence sectors. The company provides specialised machinery including excavators, metro cars, and military mobility vehicles, serving both domestic and international markets.

Business Model

The company generates revenue through the design, manufacture, and supply of heavy engineering equipment and systems across three primary business verticals. It operates through long-term contracts with government entities, defence departments, and industrial mining corporations.

  • Incorporation Year:1964
  • Export Reach:68 countries

Growth Outlook

Growth is driven by India's infrastructure expansion in the metro and rail sectors, alongside increased indigenisation efforts in the defence and aerospace industries. The company continues to leverage its technical expertise to secure large-scale government procurement orders.

Key Risks

  • Order Book Concentration. Heavy reliance on government and public sector contracts makes the company vulnerable to shifts in public spending and policy priorities.
  • Supply Chain Volatility. Fluctuations in the cost of raw materials like steel and aluminium can significantly impact manufacturing margins.
  • Technological Obsolescence. The company faces intense competition from global players, necessitating continuous investment in R&D to maintain product competitiveness.
  • Geopolitical Risks. Export operations across 68 countries expose the company to international trade barriers and geopolitical instability.

Price

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Key Metrics

REVENUE

₹4,351 Cr

TTM · consolidated

+8.2%YoY

NET PROFIT

₹141 Cr

TTM · consolidated

-51.7%YoY

EPS

₹15.03

TTM · consolidated

-78.6%YoY

RETURN ON EQUITY

4.9%

TTM · consolidated

-5.8 ppYoY

RETURN ON CAPITAL EMPLOYED

6.1%

TTM · consolidated

-6.4 ppYoY

P/E

121.1x

Q4 FY26 · consolidated

121.1 vs -5.9x5Y avg

EV/EBITDA

24.0x

Q4 FY26 · consolidated

24.0 vs 34.2x5Y avg

EBITDA MARGIN

7.5%

TTM · consolidated

-5.7 ppYoY

NET PROFIT MARGIN

10.0%

Q4 FY26 · consolidated

-7.4 ppYoY

DEBT TO EQUITY

0.1x

Q4 FY26 · consolidated

+0.02xYoY

Peers · Construction Vehicles

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
BEML Ltd.BEML
12,081121.1324.018.2%7.5%4.9%6.1%-60.6%
Action Construction Equipment Ltd.ACE
9,56128.7819.35-1.4%18.7%24.2%33.4%-13.2%
AJAX Engineering LtdAJAXENGG
5,28731.0721.6715.0%18.5%24.5%-13.2%
TILTIL
1,398-47.32101.682.5%5.7%-34.4%2.2%-44.8%

As of Q4 FY26

Financials