MarketFriction

BEML Ltd

NSE BEML · BSE 500048 · Construction Vehicles
₹1,962.30 -1.51%
NSE close2026-10-01
52 week range1,355.00 - 2,275.75
Market cap₹16,380 Cr.
P/E91.8
Nifty 500Nifty Smallcap 100Smallcap 250Nifty India Defence Price band 20% Delivery 25.6%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales9171,0471,5146348608761,6536348391,0831,794820
Expenses8589911,1436847878151,2306837661,0801,523818
Operating Profit5956370-507360422-497342722
OPM %6%5%24%-8%8%7%26%-8%9%0.3%15%0.2%
Other Income1034511554974102
Interest1181191617131010121414
Depreciation161617171719192020212223
Profit before tax4267348-755530395-7050-25245-34
Tax %-23%28%26%-7%7%17%27%-9%5%-12%27%-20%
Net Profit5248257-705124288-6448-22180-27
EPS in Rs6.225.7930.83-8.466.132.9334.52-7.705.77-2.6921.59-3.24
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales2,9752,4943,2393,4743,0253,5574,3373,8994,0544,0224,3514,536
Expenses2,8252,3412,9863,2372,9423,4194,0123,5303,6093,5164,0514,186
Operating Profit14915325323884138325369445506299350
OPM %5%6%8%7%2.8%3.9%8%9%11%13%7%8%
Other Income42632523496062242242922
Interest565548604139654942544549
Depreciation576365717271666464718387
Profit before tax79981641301987200278382404200236
Tax %18%14%21%52%-229%21%36%43%26%28%29%
Net Profit6485130636469129158282293141178
EPS in Rs7.7310.1815.577.587.678.2715.4618.9633.8335.1217.0021.43
Dividend Payout %26%39%26%46%39%36%32%26%30%29%101%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth4%4%4%13%
Compounded Profit Growth8%15%-3%-40%
Stock Price CAGR19%28%19%-6%
Return on Equity6%8%9%5%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital424242424242424242424242
Reserves2,0352,0882,1412,1592,1462,2112,1732,3152,3802,6262,8462,892
Borrowings64556943844640434174383238171229309
Other Liabilities1,9211,7222,1372,0972,4952,5702,8852,6242,3042,8522,9283,892
Total Liabilities4,6434,4204,7574,7445,0865,1635,8435,8135,1075,5916,0447,135
Fixed Assets482557583595631621601621505528580684
CWIP1921047968251514142337107298
Investments000000000068
Other Assets3,9693,7594,0944,0814,4304,5275,2285,1784,5795,0265,3516,146
Total Assets4,6434,4204,7574,7445,0865,1635,8435,8135,1075,5916,0447,135
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity54880209130257106-3015156045899118
Cash from Investing Activity-36-33-59-62-62-51-49-25-20-68-210-354
Cash from Financing Activity-384-105-160-101-1293-176-10-331-130107238
Net Cash Flow128-57-11-336557-52616208260-42
Free Cash Flow502531446419254-35030551358-92-208
CFO/OP722%64%83%58%119%39%-229%26%176%116%44%68%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days129148209186170182193157116130154191
Inventory Days460375615395331482373328369418462394
Days Payable1278915211414215213385116132129164
Cash Conversion Cycle462434673467358512434400369416487421
Working Capital Days243246316245232337294242236261295251
ROCE %3%5%6%8%7%2%5%9%10%15%16%8%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters54.03%54.03%54.03%54.03%54.03%54.03%54.03%54.03%54.03%54.03%54.03%54.03%
FIIs6.79%9.12%9.91%6.76%5.66%7.41%7.26%5.67%5.82%5.51%5.59%5.48%
DIIs19.03%18.97%17.79%20.14%18.51%18.10%18.69%18.80%18.54%18.39%18.71%19.40%
Public20.16%17.87%18.28%19.08%21.79%20.45%20.00%21.51%21.62%22.08%21.68%21.10%
No. of Shareholders1,01,57699,5861,21,0011,52,6981,91,6041,85,0051,92,7971,95,1761,93,3041,98,4782,00,6091,97,269

Fundamentals

Market Cap₹ 16,380 Cr.
Current Price₹ 1,967
Stock P/E91.8
Book Value₹ 352
ROCE7.66 %
ROE4.78 %
Dividend Yield0.87 %
Face Value₹ 5.00
Compounded Sales Growth (TTM)13%
Compounded Profit Growth (TTM)-40%
Consolidated figures.
Valuation
Market capRs 16,444 Cr
Enterprise valueRs 16,716 Cr
P/E (TTM)92.14x
Price to book5.61x
Price to sales3.63x
EV / EBITDA44.85x
EV / EBIT58.53x
EV / sales3.69x
Price to cash flow139.09x
Earnings yield1.09%
Dividend yield0.87%
P/E, 3-year average42.59x
P/B, 3-year average2.92x
P/E, 5-year average33.66x
P/B, 5-year average2.23x
Profitability
Operating margin (excl. other income)6.88%
Operating margin (incl. other income)7.55%
EBITDA margin8.22%
Pre-tax margin5.21%
Net profit margin3.93%
Net margin, latest quarter-3.30%
ROE4.86%
ROCE7.71%
ROA2.15%
ROE, 3-year average8.82%
ROCE, 3-year average12.88%
ROA, 3-year average4.15%
ROE, 5-year average7.74%
ROCE, 5-year average11.63%
ROA, 5-year average3.51%
ROIC (approx.)6.31%
Tax rate29.16%
Other income / net worth0.99%
Growth
Sales growth (latest year)8.16%
Profit growth (latest year)-51.61%
Sales CAGR, 3 years3.72%
Sales CAGR, 5 years4.11%
Profit CAGR, 3 years-3.58%
Profit CAGR, 5 years15.49%
Sales growth QoQ-54.32%
Profit growth QoQ-115.02%
Sales growth YoY (latest quarter)29.28%
Per share
EPS (TTM)Rs 21.30
EPS (latest year)Rs 16.89
EPS (latest quarter)Rs -3.22
EPS, 3-year averageRs 51.33
EPS, 5-year averageRs 44.51
Book value per shareRs 350.10
Sales per shareRs 541.31
Cash flow per shareRs 14.11
Free cash flow per shareRs -24.82
Dividend per share (latest year)Rs 17.05
Dividend per share, 3-year averageRs 19.14
Dividend per share, 5-year averageRs 15.48
Dividends
Dividend payout100.90%
Dividend payout, 3-year average53.28%
Dividend payout, 5-year average43.75%
Efficiency
Asset turnover0.61x
Fixed asset turnover6.36x
Inventory turnover1.05x
Inventory days346 days
Debtor days191 days
Debtors turnover1.91x
Creditor days164 days
Cash conversion cycle421 days
Working capital days251 days
Leverage
Total debtRs 309 Cr
Cash and bankRs 37 Cr
Net debtRs 272 Cr
Debt to equity0.11x
Net debt / EBITDA0.73x
Interest coverage5.77x
Current ratio (filing 2026-03-31)2.01x
Quick ratio (filing 2026-03-31)1.20x
Trade payables (filing 2026-03-31)Rs 1,024 Cr
Owners' fund to total sources41.12%
Debt to assets4.33%
Cash flow
Cash from Operating Activity (latest year)Rs 118 Cr
Cash from Investing Activity (latest year)Rs -354 Cr
Cash from Financing Activity (latest year)Rs 238 Cr
Net Cash Flow (latest year)Rs 2 Cr
Free cash flow (latest year)Rs -208 Cr
FCFE (approx.: FCF + change in debt)Rs -128 Cr
Cash from ops / profit, 5 years1.28x
Sales to cash flow36.80x
Statement figures
Net sales (TTM)Rs 4,536 Cr
Net sales (latest year)Rs 4,351 Cr
Sales (latest quarter)Rs 820 Cr
Operating profit excl. other income (latest year)Rs 299 Cr
Operating profit (latest quarter)Rs 2 Cr
Other income (TTM)Rs 22 Cr
EBITDA (TTM)Rs 373 Cr
PBDT (TTM)Rs 323 Cr
Profit before tax (TTM)Rs 236 Cr
Tax (latest year)Rs 58 Cr
Net profit (TTM)Rs 178 Cr
Net profit (latest year)Rs 142 Cr
Net profit (latest quarter)Rs -27 Cr
Depreciation (TTM)Rs 87 Cr
Depreciation (latest quarter)Rs 23 Cr
Interest (TTM)Rs 49 Cr
Cost of goods sold (latest year)Rs 2,596 Cr
Total expenditure (latest year)Rs 4,051 Cr
Total income (latest year)Rs 4,380 Cr
Share capitalRs 42 Cr
ReservesRs 2,892 Cr
Shareholders' fundsRs 2,934 Cr
Total assetsRs 7,135 Cr
Net blockRs 684 Cr
Capital work in progressRs 298 Cr
InvestmentsRs 8 Cr
ReceivablesRs 2,274 Cr
InventoryRs 2,463 Cr
Other liabilitiesRs 3,892 Cr
Shares outstanding (crore)8.38
Ownership
Promoter holding54.03% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 92.1 is at the 87th percentile of its own 9.4-year range (median 60.1, low 19.0, high 116.8).
P/B 5.61 is at the 84th percentile (median 2.80).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodBEMLNifty 50Difference
1 week-4.0%-2.8% -1.2 pts
1 month-0.4%-6.8% +6.4 pts
3 months+5.2%-7.6% +12.9 pts
6 months+43.3%+0.4% +42.9 pts
1 year-10.0%-9.9% -0.0 pts
2 years+2.5%-13.6% +16.0 pts
3 years+69.3%+14.2% +55.1 pts
5 years+175.6%+27.9% +147.7 pts
69 mutual fund schemes hold about ₹3,268 Cr. Over three months 12 bought more and 8 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
HDFC Defence Fund4.89%562 -4%
HDFC Balanced Advantage Fund0.39%415 +4%
Kotak Flexi Cap Fund0.65%368 +3%
Kotak Flexi Cap Fund0.65%366 +3%
Kotak Small Cap Fund1.44%283 -1%
Invesco India Focused Fund2.31%149 -8%
Invesco India Smallcap Fund0.75%118 -11%
Kotak Large & Mid Cap Fund0.36%116 +1%
Motilal Oswal Nifty India Defence Index Fund1.84%102 +2%
Abakkus Flexi Cap Fund1.48%94 +40%
HDFC Manufacturing Fund0.81%86 +0%
HDFC Small Cap Fund0.19%79 +1%
HDFC Multi Cap Fund0.29%60 +2%
ICICI Pru Mid Cap Fund0.64%54 -2%
Invesco India PSU Equity Fund3.57%52 +6%
ICICI Pru Mid Cap Fund0.64%51 -2%
Baroda BNP Paribas Multi Cap Fund1.27%45 -15%
Aditya Birla SL PSU Equity Fund0.67%41 +4%
Abakkus Small Cap Fund1.31%37 +100%
Baroda BNP Paribas Small Cap Fund2.15%28 -12%
Aditya Birla SL Nifty India Defence Index Fund1.84%26 +2%
ICICI Pru PSU Equity Fund0.89%17 -24%
ICICI Pru Retirement Fund-Pure Equity Plan0.76%16 -3%
LIC MF Small Cap Fund1.58%13 +2%
Nippon India Nifty Smallcap 250 Index Fund0.34%12 +1%

Red flags

F-score 3 of 8
explainReceivables outrunning sales Receivables grew 34% vs sales +8% in 2026
explainDebt up, profit down Borrowings up 35% while net profit fell in 2026
lookAuditor change Auditor change 2026-09-22: BEML Limited has informed the Exchange regarding Change in Auditors of the company.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹820 Cr +29.3% vs Jun 2025. Net loss ₹27 Cr.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-09-22Dividend - Rs 12.28 Per Share
2026-06-05Interim Dividend - Rs 2.30 Per Share
2026-02-13Interim Dividend - Rs 2.50 Per Share
2025-11-03Face Value Split (Sub-Division) - From Rs 10/- Per Share To Rs 5/- Per Share0.5000
2025-09-22Dividend - Rs 1.20 Per Share
2025-05-15Interim Dividend - Rs 15 Per Share
2025-02-14Interim Dividend - Rs 5 Per Share
2024-09-13Annual General Meeting/Dividend - Rs 15.50 Per Share
2024-02-16Interim Dividend - Rs 5 Per Share
2023-09-20Dividend - Rs 5 Per Share
2023-09-20Annual General Meeting
2023-02-24Interim Dividend - Rs 5 Per Share
2022-09-15Annual General Meeting/Dividend - Rs 5 Per Share
2022-09-08Demerger
2022-03-29Interim Dividend - Rs 5 Per Share
2022-02-17Extra Ordinary General Meeting
2021-09-16 Annual General Meeting/Dividend - Rs 1.20 Per Share
2021-02-17 Interim Dividend - Rs 4.80 Per Share
2020-09-17 Annual General Meeting/Dividend - Rs 3.50 Per Share
2020-03-19 Interim Dividend - Rs 2.5 Per Share
2019-09-19 Dividend - Rs 2.50 Per Share
2019-03-28 Interim Dividend - Rs 4.50 Per Share
2018-09-19 Annual General Meeting/Dividend- Rs 8 Per Share
2017-09-13 Annual General Meeting/Dividend - Rs 8 Per Share
2016-09-07 Dividend - Rs 4/- Per Share
2015-09-07 Dividend - Re 1/- Per Share
2014-08-20Annual General Meeting / Dividend - Re 1/- Per Share
2013-09-05Annual General Meeting / Dividend - Rs 2.50/- Per Share
2012-09-06Annual General Meeting And Dividend Rs.5/- Per Share
2011-08-23Dividend-Rs.10/- Per Share
2010-08-09Annual General Meeting And Dividend Rs.10/- Per Share
2009-09-17Dividend-Rs.12/- Pr Share
2008-09-25Agm/Dividend - 65%
2008-03-04Interim Dividend - 55%
2007-08-16Agm
2007-07-112nd Interim Dividend-80%
2007-02-13Interim Dividend-40%
2006-09-18Agm/Dividend-70%
DateTypeWhat it says
2026-10-01Press ReleaseA press release titled "BEML Unveils India s First Indigenous 60-Ton Electric Dump Truck, Advancing Sustainable Mining".
2026-09-30Shareholder meetingVoting results.
2026-09-30CessationCessation of Brigadier T Srinivasa Rao (Retd) as Chief General Manager- SBU Head - Armoured Business of the company w.e.f. September 30, 2026.
2026-09-30CessationCessation of Mr Sanjay Som as Director (Mining & Construction Business) of the company w.e.f. September 30, 2026.
2026-09-29Shareholder meetingProceedings of Annual General Meeting held on September 29, 2026
2026-09-22Change in AuditorsChange in Auditors of the company.
2026-09-18Awarding of order(s)/contracAwarding of order(s)/contract(s)
2026-09-03Record DateRecord date for the purpose of Dividend & Meeting is 22-Sep-2026.
2026-09-03Shareholder meetingNotice of Annual General Meeting to be held on September 29, 2026
2026-09-02Order winBagging/Receiving of orders/contracts
2026-08-31CessationCessation of Mr Shivakumar HG, ED(Offg.)- FPIIC of the company w.e.f. August 31, 2026.
2026-08-31CessationCessation of Mr Shri Anil Jerath as Executive Director of the company w.e.f. August 31, 2026.
2026-08-21AppointmentAppointment of Independent Directors on the Board of M/s. BEML Limited.
2026-08-19Concall / analyst meetTranscript
2026-08-18AppointmentPursuant to Article 95 and 97(1) & (2) of the Articles of Association of the Company, vide letter dated 18.08.2026, the President of India has appoint...
2026-08-14Order winBagging/Receiving of orders/contracts
2026-08-13Concall / analyst meetLink of Recording
2026-08-12Concall / analyst meetRegistration link for Investor Earning Call
2026-08-11Order winBagging/Receiving of orders/contracts
2026-08-11General UpdatesUpdate in details of KMPs authorized for determining/disclosing materiality of event/information under Reg 30 of SEBI (LODR), Reg, 2015.
2026-08-10Concall / analyst meetPostponement of Investor Earnings Call.
2026-08-07Concall / analyst meetSchedule of meet
2026-08-07General UpdatesGeneral Updates
2026-08-07Change in AuditorsChange in Auditors of the company.
2026-08-07DividendBoard of Directors at its meeting held on August 07, 2026, recommended Final Dividend of Rs. 12.28 per equity share.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Order dateForumCase
2021-07-30NCLTBEML Limited & BEML Midwest & Others Vs
2021-03-23NCLTBEML Limited & BEML Midwest & Others Vs
2021-01-20NCLTBEML Limited & BEML Midwest & Others Vs
2020-10-16NCLTAction Group Associates Vs BEML Midwest Ltd Vs
2020-10-08NCLTAction Group Associates Vs BEML Midwest Ltd Vs
2020-09-03NCLTAction Group Associates Vs BEML Midwest Ltd Vs
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Scrip PE is greater than 50 (4 trailing quarters)

Quick answers

What is the market cap of BEML Ltd?

BEML Ltd (BEML) has a market capitalisation of Rs 16,380 Cr. at the 2026-10-01 close.

What is the P/E ratio of BEML Ltd?

BEML Ltd trades at a P/E of 91.8 on trailing twelve-month profit, at the 2026-10-01 close.

What were BEML Ltd's latest quarterly results?

In the Jun 2026 quarter, BEML Ltd sales was Rs 820 Cr (+29.3% vs Jun 2025) with a net loss of Rs 27 Cr.

What is the 52-week high and low of BEML Ltd?

The 52-week high is Rs 2,275.75 and the 52-week low is Rs 1,355.00.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03