Established in: 1964
Managing director: Shantanu Roy
BEML Limited, formerly Bharat Earthmovers Limited, is a public sector company, incorporated on May 11, 1964, in Bengaluru. It is a public sector undertaking of the Defence Ministry that is primarily engaged in the manufacture of rail coaches and spare parts, and mining equipment.
BEML is pioneering the Make in India initiative of the central government, catering to the needs of customers across industries. The company plays a significant role in manufacturing different products and offering technology solutions for defence, rail, power, coal, steel, irrigation, construction and mining sectors.
BEML has achieved major strides in Indian defence systems and Metro Rail locomotives. The defence PSU has 4 manufacturing units in Bengaluru, Mysore, Kolar Gold Fields and Palakkad. Besides manufacturing, the company provides test facilities to private entities, particularly promoting the start-up ecosystem.
History of BEML
Between 1970 and 1980, BEML expanded its product range by adding dump trucks, motor graders and rail coaches to its portfolio. The Kolar Gold Fields (KGF) became the backbone of its earth-moving operations, while the Bengaluru facility began to manufacture rail coaches.
In 1992, the Indian Government decided to divest a 25% stake in BEML and offered the public the opportunity to become its shareholders.
In 2007, BEML Limited executed a Follow-on-Public offer (FPO) and raised ₹526.75 crore. In the same year, the company shed its full name and officially rebranded as BEML Limited.
Today, BEML stands as Asia’s second-largest manufacturer of earthmoving equipment. Its market capitalisation is around ₹13,730 crore as on 4 March 2026.
BEML Limited Business Segments
BEML’s business is divided into four main segments. The details of the business segment are as follows.
- Rail and Metro: This is the company’s largest segment by order book, accounting 42% of the revenue and about 55% to 65% of the pending orders.
This segment is also working to enter into new territory. BEML secured a contract to build India’s first indigenousaly manufactured high-speep train prototype and is developing the Vande Bharat Sleeper.
The rail business is expected to witness massive growth because India keeps its Vande Bharat fleet expansion target of 4,500 trainsets by 2047.
- Mining and Construction: This segment contributes around 33% to the revenue, which is second highest after Rail and Metro.
In this segment, the company manufactures a range of earth-moving and mining equipment, like hydraulic excavators, bulldozers, wheel loaders, dump trucks, motor graders, pipe layers, etc.
- Defence and Aerospace: This segment contributes 25% to the revenue, and the company is expecting 70% growth in this vertical as India continuously strengthens its defence.
The company is slowly moving into complex systems integration, building Manefield Marking vehicles and Command Post Vehicles rather than just standalone platforms. It entered into a partnership with Bharat Forge for Advance Medium Combat Aircraft programme, giving support in building India’s next-generation fighter aircraft ecosystem.
- Maritime and Port Business: BEML is diversifying into the port infrastructure by manufacturing heavy-duty cranes for ports.
BEML partnered with HD Korea Shipbuilding and HD Hyundai Samho for maritime cranes. The company is targeting ₹4,000 crore revenue from its maritime and port business over the next 5 years.
BEML Limited - Order Book
As of late 2025, the BEML order book stands at a record high of ₹16,500 crore. This represents a book-to-bill ratio of nearly 3.4x its annual revenue. It means BEML has about 3.4 years of revenue already locked in.
Recent Orders
- ₹6,750 crore: Vande Bharat Sleeper project
- ₹1,888 crore: LHB Coaches from ICF Chennai
- ₹866 crore: Contract to build India’s first manufactured bullet train prototypes.
- ₹842 crore: High Mobility Vehicles for Pinaka rocket programme from the Ministry of Defence.
- ₹282 crore: High Mobility Vehicles order from the Ministry of Defence.
- Bangalore Metro: 53 trains in production.
- Mumbai Metro Lines 2 and 7: 180 coaches delivered.
BEML Limited Financial Performance (FY25 vs FY24)
Revenue: BEML Limited reported consolidated revenue of ₹4,045.95 crore in FY25 vs ₹4,096.56 crore in FY24. It showed a decrease of -1.23% on a yearly basis.
Operating Profit: The company reported an operating profit of ₹403.76 crore in FY25 vs ₹381.62 crore in FY24. It showed a decline of -5.80% on a year-on-year basis, indicating that the company's operating profit remained under pressure.
Net Profit: It reported a net profit of ₹292.52 crore in FY25 compared to ₹281.77 crore in FY24. It showed an increase of 3.81% on a yearly basis, indicating a steady performance.
BEML Financial Highlights
- Revenue: BEML reported revenue of ₹4,379.97 crore in FY26 vs ₹4,045.95 crore in FY25. It showed an increase of 8.26% on a yearly basis.
- Operating Profit: BEML reported an operating profit of ₹199.57 crore in FY26 vs ₹403.76 crore in FY25. It showed a decrease of 50.57% on a year-on-year basis.
- Net Profit: BEML reported a net profit of ₹141.37 crore in FY26 vs ₹292.52 crore in FY25. It showed a decrease of 51.67% on a yearly basis.
BEML Quarterly Result Highlights
- BEML reported revenue of ₹1,804.14 crore in Mar 2026, compared with ₹1,087.13 crore in Dec 2025, representing an increase of 65.95% on a quarter-on-quarter (QoQ) basis.
- BEML reported an operating profit of ₹244.94 crore in Mar 2026, compared with ₹25.41 crore in Dec 2025, representing an increase of 1,063.95% on a quarter-on-quarter (QoQ) basis.
- BEML reported a profit of ₹179.81 crore in Mar 2026, compared with ₹22.38 crore in Dec 2025, reflecting an increase of 903.44% on a QoQ basis.
- The earnings per share (EPS) of BEML stood at ₹70.24 during Mar 2026.
