BEML Ltd

₹ 4,391 0.59%

03 Jul 10:18 a.m.

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 ₹ 18,286 Cr.
Current Price ₹ 4,391
High / Low ₹ 5,489 / 2,346
Stock P/E 62.5
Book Value ₹ 694
Dividend Yield 0.47 %
ROCE 15.6 %
ROE 10.5 %
Face Value ₹ 10.0

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Pros

Company is almost debt free.
Company has delivered good profit growth of 35.8% CAGR over last 5 years
Company has been maintaining a healthy dividend payout of 21.3%

Cons

Stock is trading at 6.29 times its book value
The company has delivered a poor sales growth of 5.86% over past five years.
Company has a low return on equity of 9.39% 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

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	1,684	669	805	1,037	1,388	577	917	1,047	1,514	634	860	876	1,653
	1,454	725	763	948	1,101	627	858	991	1,143	684	787	815	1,230
Operating Profit	230	-56	42	89	287	-51	59	56	370	-50	73	60	422
OPM %	14%	-8%	5%	9%	21%	-9%	6%	5%	24%	-8%	8%	7%	26%
	1	1	1	5	19	1	10	34	5	1	15	5	4
Interest	10	11	11	12	12	10	11	8	11	9	16	17	13
Depreciation	16	16	16	16	16	16	16	16	17	17	17	19	19
Profit before tax	205	-82	16	66	278	-75	42	67	348	-75	55	30	395
Tax %	35%	0%	0%	0%	43%	0%	-23%	28%	26%	-7%	7%	17%	27%
	133	-82	16	66	158	-75	52	48	257	-70	51	24	288
EPS in Rs	32.07	-19.80	3.91	15.94	37.91	-18.03	12.45	11.59	61.73	-16.94	12.27	5.87	69.12
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	2,904	2,802	2,975	2,494	3,239	3,474	3,025	3,597	4,337	3,899	4,054	4,022
	2,773	2,728	2,825	2,341	2,986	3,237	2,942	3,419	4,012	3,530	3,609	3,517
Operating Profit	131	74	149	153	253	238	84	178	325	369	445	506
OPM %	5%	3%	5%	6%	8%	7%	3%	5%	8%	9%	11%	13%
	60	60	42	63	25	23	49	20	6	22	42	24
Interest	127	76	56	55	48	60	41	39	65	49	42	54
Depreciation	54	53	57	63	65	71	72	71	66	64	64	71
Profit before tax	10	5	79	98	164	130	19	87	200	278	382	404
Tax %	39%	-9%	18%	14%	21%	52%	-229%	21%	36%	43%	26%	28%
	6	6	64	85	130	63	64	69	129	158	282	293
EPS in Rs	1.47	1.43	15.48	20.38	31.17	15.19	15.35	16.56	30.96	37.96	67.74	70.32
Dividend Payout %	68%	70%	26%	39%	26%	46%	39%	36%	32%	26%	30%	7%

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

Compounded Profit Growth
10 Years:	48%
5 Years:	36%
3 Years:	32%
TTM:	4%

Stock Price CAGR
10 Years:	15%
5 Years:	52%
3 Years:	62%
1 Year:	-4%

Return on Equity
10 Years:	6%
5 Years:	8%
3 Years:	9%
Last Year:	11%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	42	42	42	42	42	42	42	42	42	42	42	42
Reserves	2,039	2,035	2,088	2,141	2,159	2,146	2,211	2,173	2,315	2,380	2,626	2,846
	958	645	569	438	446	404	341	752	832	381	71	229
	1,790	1,921	1,722	2,137	2,097	2,495	2,570	2,877	2,624	2,304	2,852	2,756
Total Liabilities	4,828	4,643	4,420	4,757	4,744	5,086	5,163	5,843	5,813	5,107	5,591	5,872
	513	482	557	583	595	631	621	601	621	505	528	580
CWIP	173	192	104	79	68	25	15	14	14	23	37	107
Investments	0	0	0	0	0	0	0	0	0	0	0	6
	4,142	3,969	3,759	4,094	4,081	4,430	4,527	5,228	5,178	4,579	5,026	5,180
Total Assets	4,828	4,643	4,420	4,757	4,744	5,086	5,163	5,843	5,813	5,107	5,591	5,872

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	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	209	130	257	106	-301	51	560	458	183
	-28	-36	-33	-59	-62	-62	-51	-49	-25	-20	-68	-205
	-427	-384	-105	-160	-101	-129	3	-177	-10	-331	-130	-139
Net Cash Flow	-61	128	-57	-11	-33	65	57	-527	16	208	260	-162

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	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	170	182	191	157	116	130	154
Inventory Days	478	460	375	615	395	331	482	373	328	369	418	431
Days Payable	84	127	89	152	114	142	152	133	85	116	132	129
Cash Conversion Cycle	517	462	434	673	467	358	512	432	400	369	416	456
Working Capital Days	309	266	265	333	260	242	341	356	312	271	266	299
ROCE %	4%	3%	5%	6%	8%	7%	2%	5%	9%	10%	15%	16%

Shareholding Pattern

Numbers in percentages

12 Recently

	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 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%
	5.91%	5.13%	5.50%	5.44%	6.08%	6.79%	9.12%	9.91%	6.76%	5.66%	7.41%	7.26%
	18.75%	20.39%	19.87%	19.72%	19.51%	19.03%	18.97%	17.79%	20.14%	18.51%	18.10%	18.69%
	21.32%	20.44%	20.59%	20.79%	20.38%	20.16%	17.87%	18.28%	19.08%	21.79%	20.45%	20.00%
No. of Shareholders	92,714	93,050	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

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	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%
	22.90%	24.27%	25.31%	26.35%	21.29%	19.08%	19.72%	17.79%	18.69%
	15.29%	17.71%	16.95%	17.21%	23.32%	20.75%	20.79%	18.28%	20.00%
No. of Shareholders	55,398	66,476	70,498	74,869	1,00,992	88,267	94,767	1,21,001	1,92,797

* 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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