Un-audited financial results for Q1 30.06.2025
BEML · price
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BEML reported flat revenue of Rs 633.99 crore in Q1 FY26, virtually unchanged from Rs 634.08 crore in Q1 FY25. The company continued to post a net loss, though it narrowed slightly to Rs 63.91 crore (standalone) from Rs 70.03 crore a year ago, translating to a loss per share of Rs 15.35 versus Rs 16.82. Total expenses were broadly steady at Rs 711.54 crore, with employee costs and other overheads keeping the bottom line negative. The statutory auditor (G. Natesan & Co.) issued an unqualified limited review but flagged an Emphasis of Matter on the Rs 73.81 crore advance to the MAMC consortium (with Coal India and DVC) and a Rs 6.05 crore advance to subsidiary MAMC Industries Ltd. Q1 is historically a weak quarter for BEML due to the lumpiness of defence, mining and rail order execution.
A second consecutive quarterly loss is negative for sentiment, though the modest year-on-year narrowing of the loss and stable revenue offer some comfort. The auditor's emphasis of matter on the MAMC consortium exposure (Rs ~80 crore) is a watch item but does not alter the review opinion. The stock may stay range-bound near term until order execution and margin recovery become visible in H2.