The company said the order is in the normal course of business.
Yesterday, BEML said it is expecting a stronger performance in FY27, with Chairman and Managing Director Shantanu Roy projecting around 30% revenue growth for the year.
The company expects the momentum seen in the first quarter to continue through the rest of the year, supported by a pick-up in rail and metro orders, steady defence demand and improving execution.
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On the order front, BEML is targeting around ₹20,000 crore of order inflows in FY27, subject to the finalisation of key tenders. Roy said the company has order prospects worth more than ₹40,000 crore across rail and metro, while additional opportunities are building up in defence, mining, construction and exports.
BEML is also targeting EBITDA margins of around 12-13%, with Roy expecting the company to return to the margin levels seen in FY24 and FY25 and potentially improve on them.
First Quarter Results
The company posted a consolidated net loss of ₹27 crore for the June quarter, compared with a loss of ₹64 crore in the corresponding period last year. The stock is attempting a recovery from the lows. The company’s revenue increased 29.3% year-on-year to ₹820 crore from ₹634 crore, driven by improved execution across its businesses.
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Operating performance also improved during the quarter, with the earnings before interest, tax, depreciation and amortisation (EBITDA) turning positive at ₹3 crore, compared with an EBITDA loss of ₹49 crore a year earlier. EBITDA margin stood at 0.4%, versus a negative margin in the year-ago period.
At the pre-tax level, consolidated loss narrowed to ₹33.7 crore from ₹70.3 crore a year ago. Total income rose to ₹821.2 crore from ₹642.6 crore, while total expenses increased to ₹854.9 crore from ₹712.8 crore.
Material costs rose to ₹428.6 crore from ₹371.6 crore in the year-ago quarter, while employee benefit expenses stood at ₹202.6 crore compared with ₹209.4 crore a year earlier. Finance costs increased to ₹13.9 crore from ₹9.8 crore, and depreciation and amortisation expense rose to ₹23.4 crore from ₹19.8 crore.
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BEML said its subsidiary Vignyan Industries remains under voluntary liquidation, while MAMC Industries continues to be consolidated in the group’s financial statements.
The company has also advanced ₹74.7 crore to the MAMC consortium and ₹6.2 crore to MAMC Industries as part of the asset acquisition process for Mining & Allied Machinery Corporation (MAMC), with recoverability dependent on the eventual sale or realisation of the acquired assets.
Shares of BEML Ltd ended at ₹1,904.35, up by ₹19.45, or 1.03%, on the BSE.
