BEML reports strong Q4, net profit rises 63% YoY; shares jump 13%

BEML has also showcased a significant growth for FY24. As compared to the previous year, the company’s net profit for FY24 rose by 78.46% YoY to ₹281.77 crore. The company’s sales also moderately increased by 3.98% YoY to ₹4,054.32 crore. The company’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose to ₹370.4 crore. This resulted in YoY growth in the margins from 20.7% to 24.5%.

Following the announcement, shares of BEML witnessed an upward trend. At 10:47 AM, the shares traded 9.09% higher at ₹3,501.70 apiece on the NSE on 13 May, 2024.

BEML’s stock has achieved robust gains in the past year. Over the last six months, the stock price has shown a decent hike of approximately 48% year-to-date (YTD). BEML shares have outperformed the benchmark Nifty 50 index thereby showcasing a spike of over 14%. A final dividend of ₹15.5 per equity share is also announced by the company’s board of directors.

About BEML:

BEML Limited, a ‘Schedule ‘A’ Company under Ministry of Defence, Govt. of India plays a vital role and serves India’s core sectors like Defence, Rail, Power, Mining and Infrastructure. The Company operates under three major Business verticals viz., Mining & Construction, Defence and Rail & Metro. The three verticals are serviced by nine manufacturing units located at Bangalore, Kolar Gold Fields (KGF), Mysore, Palakkad and Subsidiary – Vignyan Industries Ltd, in Chikmagalur District. Each Business vertical is headed by a Director who reports to the Chairman & Managing Director of the company.