BEML Ltd

₹ 2,009 -0.44%

12 Nov - close price

About

BEML Ltd manufactures a wide range of heavy earthmoving equipment catering to the mining and construction industry, vehicles for defense forces and coaches for the metro and Indian Railways.^[1]

Key Points

Industries Served^[1]
Defence & Aerospace, Coal, Mining, Steel, Cement, Power, Irrigation, Construction, Infrastructure, Railways and Metro Transportation System.

Website BSE NSE

Market Cap ₹ 16,742 Cr.
Current Price ₹ 2,009
High / Low ₹ 2,437 / 1,173
Stock P/E 55.1
Book Value ₹ 333
Dividend Yield 0.53 %
ROCE 16.1 %
ROE 10.6 %
Face Value ₹ 5.00

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Pros

Company has delivered good profit growth of 33.8% CAGR over last 5 years
Company has been maintaining a healthy dividend payout of 28.3%

Cons

Stock is trading at 6.03 times its book value
The company has delivered a poor sales growth of 5.84% over past five years.
Company has a low return on equity of 9.53% over last 3 years.
Company has high debtors of 154 days.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Industrials Capital Goods Agricultural, Commercial & Construction Vehicles Construction Vehicles

Part of BSE 500 BSE PSU Nifty 500 BSE SmallCap Nifty Smallcap 100 BSE CPSE BSE Allcap BSE Industrials BSE 250 SmallCap Index BSE 400 MidSmallCap Index Nifty MidSmallcap 400 Nifty Smallcap 250 Nifty 500 Multicap 50:25:25 Nifty Total Market Nifty India Defence Nifty500 Multicap Infrastructure 50:30:20 Nifty Smallcap250 Momentum Quality 100 Nifty500 Equal Weight Nifty500 LargeMidSmall Equal-Cap Weighted

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
	805	1,037	1,388	577	917	1,047	1,514	634	860	876	1,653	634	839
	763	947	1,101	627	858	991	1,143	684	787	815	1,230	682	766
Operating Profit	42	89	287	-50	59	56	370	-50	73	60	423	-48	73
OPM %	5%	9%	21%	-9%	6%	5%	24%	-8%	8%	7%	26%	-8%	9%
	1	5	19	1	10	34	5	1	15	5	4	7	7
Interest	11	12	12	10	11	8	11	9	16	17	13	10	10
Depreciation	16	16	16	16	16	16	17	17	17	19	19	20	20
Profit before tax	16	67	278	-75	42	67	348	-75	55	30	395	-70	50
Tax %	0%	0%	43%	0%	-23%	28%	26%	-7%	7%	17%	27%	-9%	-9%
	16	67	158	-75	52	48	257	-70	51	25	288	-64	55
EPS in Rs	1.96	7.99	18.99	-8.96	6.26	5.81	30.87	-8.41	6.17	2.97	34.58	-7.67	6.58
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	2,912	2,809	2,981	2,499	3,246	3,481	3,029	3,597	4,337	3,899	4,054	4,022	4,001
	2,782	2,735	2,833	2,347	2,994	3,244	2,942	3,406	3,999	3,522	3,600	3,507	3,493
Operating Profit	129	74	148	152	251	237	87	191	339	377	454	515	508
OPM %	4%	3%	5%	6%	8%	7%	3%	5%	8%	10%	11%	13%	13%
	60	60	42	62	25	23	49	20	7	22	43	25	23
Interest	127	76	56	54	48	59	40	48	74	57	50	63	49
Depreciation	54	52	56	62	64	70	71	71	66	64	64	71	77
Profit before tax	9	7	78	98	164	131	24	93	206	279	383	405	405
Tax %	49%	2%	18%	14%	21%	52%	-184%	19%	35%	43%	26%	27%
	5	7	64	84	129	63	68	75	135	159	283	294	304
EPS in Rs	0.56	0.81	7.64	10.14	15.54	7.62	8.21	8.98	16.16	19.06	33.98	35.32	36.46
Dividend Payout %	89%	62%	26%	40%	26%	46%	37%	34%	31%	26%	30%	28%

Compounded Sales Growth
10 Years:	4%
5 Years:	6%
3 Years:	-2%
TTM:	-1%

Compounded Profit Growth
10 Years:	46%
5 Years:	34%
3 Years:	30%
TTM:	6%

Stock Price CAGR
10 Years:	16%
5 Years:	52%
3 Years:	38%
1 Year:	2%

Return on Equity
10 Years:	6%
5 Years:	8%
3 Years:	10%
Last Year:	11%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	42	42	42	42	42	42	42	42	42	42	42	42	42
Reserves	2,038	2,035	2,087	2,140	2,158	2,145	2,215	2,183	2,265	2,353	2,601	2,812	2,734
	956	643	568	436	445	402	339	752	832	381	71	229	666
	1,784	1,915	1,716	2,129	2,087	2,485	2,562	2,873	2,624	2,304	2,853	2,928	2,463
Total Liabilities	4,819	4,635	4,413	4,746	4,733	5,074	5,158	5,849	5,763	5,081	5,566	6,011	5,905
	499	469	544	571	583	620	611	591	551	501	524	576	599
CWIP	173	192	104	79	68	25	15	14	14	23	37	107	171
Investments	4	3	3	3	3	3	3	3	3	3	3	8	8
	4,144	3,971	3,761	4,093	4,079	4,426	4,530	5,241	5,195	4,555	5,003	5,320	5,126
Total Assets	4,819	4,635	4,413	4,746	4,733	5,074	5,158	5,849	5,763	5,081	5,566	6,011	5,905

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	394	548	80	208	128	257	104	1,769	49	565	457	172
	-28	-36	-33	-59	-62	-61	-50	-2,122	-29	-42	-67	-194
	-427	-384	-104	-160	-100	-129	3	-176	-10	-309	-130	-140
Net Cash Flow	-61	128	-57	-11	-34	67	58	-529	11	214	260	-162

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	123	129	148	209	186	169	182	191	157	116	130	154
Inventory Days	471	453	370	606	389	327	479	372	328	369	418	462
Days Payable	82	125	87	149	112	140	150	133	85	116	132	129
Cash Conversion Cycle	511	457	431	666	463	356	510	431	400	369	416	487
Working Capital Days	254	243	246	316	245	231	337	292	244	238	262	296
ROCE %	4%	3%	5%	6%	8%	7%	2%	5%	9%	11%	16%	16%

Shareholding Pattern

Numbers in percentages

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
	54.03%	54.03%	54.03%	54.03%	54.03%	54.03%	54.03%	54.03%	54.03%	54.03%	54.03%	54.03%
	5.50%	5.44%	6.08%	6.79%	9.12%	9.91%	6.76%	5.66%	7.41%	7.26%	5.67%	5.82%
	19.87%	19.72%	19.51%	19.03%	18.97%	17.79%	20.14%	18.51%	18.10%	18.69%	18.80%	18.54%
	20.59%	20.79%	20.38%	20.16%	17.87%	18.28%	19.08%	21.79%	20.45%	20.00%	21.51%	21.62%
No. of Shareholders	93,523	94,767	95,039	1,01,576	99,586	1,21,001	1,52,698	1,91,604	1,85,005	1,92,797	1,95,176	1,93,304

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
	54.03%	54.03%	54.03%	54.03%	54.03%	54.03%	54.03%	54.03%	54.03%	54.03%
	7.78%	3.99%	3.71%	2.41%	1.36%	6.15%	5.44%	9.91%	7.26%	5.82%
	22.90%	24.27%	25.31%	26.35%	21.29%	19.08%	19.72%	17.79%	18.69%	18.54%
	15.29%	17.71%	16.95%	17.21%	23.32%	20.75%	20.79%	18.28%	20.00%	21.62%
No. of Shareholders	55,398	66,476	70,498	74,869	1,00,992	88,267	94,767	1,21,001	1,92,797	1,93,304

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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