BEML gains 3% on bagging Rs 385-crore order for high mobility vehicles

Shares of BEML jumped 3 percent in trade on June 28 after the company bagged an order worth Rs 385 crore. At 12:26pm, the stock was trading 3.34 percent higher at Rs 1625.35 on the NSE.

According to a BSE filing today, BDL and BEL have given the contract for supply of high mobility vehicles (HMV) to BEML, formerly Bharat Earth Movers Limited.

BEML Ltd on June 23 announced that it had won a Rs 423.11-crore contract from the Ministry of Defence (MOD) for the supply of high Mobility vehicles.

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The reported an 18.2 percent growth in consolidated net profit to Rs 157.7 crore in the fourth quarter of FY23 – up from Rs 133 crore a year. BEML’s PAT in Q4FY23 more than doubled on-quarter basis. The EBITDA climbed 25 percent to Rs 287 crore from Rs 229.6 crore in the last one year, while EBITDA margins expanded sharply to 20.6 percent from 13.6 percent.

The company’s revenue from operations stood at Rs 1,387.94 crore in Q4FY23, down 17.56 percent from Rs 1,683.58 crore last year. Sequentially, the revenue was up 33.85 percent from Rs 1,036.97 crore in Q3FY23. For the full year of FY23, the company’s PAT stood at Rs 157.89 crore as against Rs 128.59 crore.

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