BEML Limited has informed the Exchange about Transcript
BEML · price
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Awaiting price reaction for this filing.
BEML posted ~24% YoY revenue growth in Q3 FY26, but profitability took a hit due to an INR 80 crore one-time correction on a metro project that had to be restarted; management expects this to reverse in 16-18 months as execution progresses. Current order book stands at INR 16,300 crores (68% Rail & Metro, 25% Defense, 7% Mining & Construction), with management targeting INR 20,000 crores by year-end. Board has approved INR 1,500 crore capex for a new greenfield rolling stock plant in Bhopal (300 cars/year additional capacity, funding entirely through long-term debt), and guided to 15-20% revenue growth for FY26. Management unveiled diversification into Tunnel Boring Machines and maritime cranes, with maritime cranes targeted at INR 5,000 crore annual revenue potential 5 years out. Inventory and working capital days improved, with a 20% inventory reduction targeted this year.
Positive long-term signals on capacity expansion, diversification, and a robust 15,000+ car pipeline over 5 years, but near-term margin pressure from the metro project write-off and lack of specific Q4 execution guidance may keep sentiment cautious in the short term.