BEML Limited has informed the Exchange about Transcript
BEML · price
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BEML's CMD Shri Shantanu Roy reiterated order book doubling guidance, expecting to close FY25 at Rs 22,000-23,000 crores with FY25 inflows more than double of FY24. Order mix is guided at 20% mining, 20% defense (likely higher with emergency procurement), and 60% rail and metro. The company guided for 150 basis points EBITDA margin expansion (not 50 bps) over last year, driven by product mix, material cost reduction, and growing systems business. Defense turnover is expected to more than double in FY26 after 40% growth in FY25. Capex of Rs 1,800 crores is planned over 5 phases, with the Bhopal plant partially funded through debt from PSU banks. Key rail opportunities include MRVC (2,856 cars, ~Rs 30,000+ crores), LHB coaches, RRTS, and metro projects across multiple cities, supported by capacity expansion to 700-800 cars per annum.
The guidance is positive and broadly in line with or above street expectations, with order book doubling, 20% revenue CAGR, and 150 bps margin expansion signaling strong growth visibility. Sustenance business (now 26% of revenue, target 30%+) and capex-funded capacity buildout support the multi-year story, though working capital remains a near-term watchpoint as the company targets a 15% reduction.