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BEML Q2 FY27 results: net profit down 39.9% to ₹32.93 crore, revenue up 42.0%
BEML Limited reported standalone revenue of ₹1,192 crore for Q2 FY27, up 42.0% from ₹839.09 crore in Q2 FY26. EBITDA rose to ₹79.45 crore, but the margin fell to 6.7% from 8.7%, while net profit declined to ₹32.93 crore from ₹54.80 crore.
Key points
- Standalone Q2 FY27 revenue was ₹1,192 crore, up 42.0% year on year and 45.4% from Q1 FY27.
- EBITDA was ₹79.45 crore at a margin of 6.7%, compared with ₹72.91 crore and 8.7% in Q2 FY26.
- Net profit was ₹32.93 crore versus ₹54.80 crore in Q2 FY26, with basic EPS of ₹3.95 against ₹13.16.
- H1 FY27 revenue was ₹2,011.23 crore, up 36.5% from ₹1,473.08 crore in H1 FY26, and the company reported a net profit of ₹5.67 crore.
- Total assets were ₹7,201.06 crore and total equity was ₹2,847.54 crore at 30 September 2026, while borrowings were ₹630.47 crore and cash was ₹6.07 crore.
How did BEML perform in Q2 FY27?
BEML’s standalone revenue for Q2 FY27 was ₹1,192 crore, compared with ₹839.09 crore in Q2 FY26 and ₹819.62 crore in Q1 FY27. Total income was ₹1,197.66 crore, against ₹846.14 crore a year earlier and ₹820.76 crore in the previous quarter. The company also filed consolidated results, with revenue of ₹119,161 lakhs and total income of ₹119,810 lakhs for the quarter.
Standalone EBITDA was ₹79.45 crore, up from ₹72.91 crore in Q2 FY26 and ₹2.13 crore in Q1 FY27. The EBITDA margin declined to 6.7% from 8.7% a year earlier but rose from 0.3% in the previous quarter. Profit before tax was ₹47.30 crore, compared with ₹50.07 crore in Q2 FY26, while Q1 FY27 recorded a loss of ₹33.96 crore.
Standalone net profit was ₹32.93 crore, down from ₹54.80 crore in Q2 FY26, while Q1 FY27 recorded a net loss of ₹27.26 crore. Basic EPS was ₹3.95, compared with ₹13.16 a year earlier and negative ₹3.27 in the previous quarter. The net profit margin was 2.8%, compared with 6.5% in Q2 FY26.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 1,192 | 819.62 | 839.09 | +42.0% | +45.4% |
| Other income | 6.05 | 1.14 | 7.05 | −14.2% | +430.7% |
| Total expenses | 1,150 | 854.72 | 796.07 | +44.5% | +34.6% |
| EBITDA | 79.45 | 2.13 | 72.91 | +9.0% | +3630.0% |
| EBITDA margin | 6.7% | 0.3% | 8.7% | −2.0 pp | +6.4 pp |
| Profit before tax | 47.30 | −33.96 | 50.07 | −5.5% | turned to profit |
| Tax | 14.37 | −6.70 | −4.73 | ||
| Net profit | 32.93 | −27.26 | 54.80 | −39.9% | turned to profit |
| EPS (₹) | 3.95 | −3.27 | 13.16 | −70.0% | turned to profit |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in BEML's costs and profit?
Total expenses increased to ₹1,150 crore in Q2 FY27 from ₹796.07 crore in Q2 FY26. Cost of materials was ₹723.99 crore, up ₹246.48 crore, while employee cost was ₹218.66 crore, up ₹15.21 crore. Other expenses increased by ₹68.39 crore to ₹226.97 crore, finance costs rose by ₹4.97 crore to ₹14.88 crore, and depreciation increased by ₹3.33 crore to ₹23.32 crore.
Other income was ₹6.05 crore in Q2 FY27, ₹1 crore lower than Q2 FY26. There was no exceptional item in either quarter. Tax was ₹14.37 crore against a credit of ₹4.73 crore in Q2 FY26, an increase of ₹19.10 crore. The figures show the higher expenses and lower other income alongside the year-on-year fall in profit before tax and net profit.
Against Q1 FY27, total expenses rose by ₹295.64 crore to ₹1,150 crore, led by a ₹295.35 crore increase in cost of materials to ₹723.99 crore. Other expenses rose by ₹68.69 crore and employee cost by ₹16.03 crore, while other income increased by ₹4.91 crore to ₹6.05 crore. Tax moved from a credit of ₹6.70 crore to ₹14.37 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 723.99 | 477.51 | +246.48 | +51.6% |
| Employee cost | 218.66 | 203.45 | +15.21 | +7.5% |
| Finance costs | 14.88 | 9.91 | +4.97 | +50.2% |
| Depreciation | 23.32 | 19.99 | +3.33 | +16.7% |
| Other expenses | 226.97 | 158.58 | +68.39 | +43.1% |
| Total expenses | 1,150 | 796.07 | +354.29 | +44.5% |
| Other income | 6.05 | 7.05 | −1 | −14.2% |
| Tax | 14.37 | −4.73 | +19.10 |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, standalone revenue was ₹2,011.23 crore, up 36.5% from ₹1,473.08 crore in H1 FY26. Total income rose 35.7% to ₹2,018.41 crore from ₹1,487.6 crore. The company reported profit before tax of ₹13.33 crore, compared with a loss of ₹20.01 crore in the year-earlier period.
Standalone net profit for H1 FY27 was ₹5.67 crore, against a net loss of ₹9.12 crore in H1 FY26. Basic EPS was ₹0.68, compared with negative ₹2.19 in H1 FY26. Other comprehensive income was negative ₹4,769 lakhs, resulting in total comprehensive income of negative ₹4,202 lakhs for H1 FY27.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 2,011 | 1,473 | +36.5% |
| Profit before tax | 13.33 | −20.01 | turned to profit |
| Net profit | 5.67 | −9.12 | turned to profit |
| EPS (₹) | 0.68 | −2.19 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹7,201.06 crore, compared with ₹6,986.12 crore at 31 March 2026. Total equity was ₹2,847.54 crore against ₹2,908.72 crore, while borrowings rose to ₹630.47 crore from ₹306.99 crore and cash fell to ₹6.07 crore from ₹6.71 crore. Inventories increased to ₹2,608.51 crore from ₹2,338.11 crore, while trade receivables declined to ₹1,938.20 crore from ₹2,274.37 crore.
For H1 FY27, operating cash flow was ₹257.02 crore, compared with negative ₹222.08 crore in H1 FY26. Investing cash flow was negative ₹237.58 crore against negative ₹124.81 crore, and financing cash flow was negative ₹20.64 crore compared with positive ₹72.52 crore. Capital expenditure was ₹231.41 crore, up from ₹118.32 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 7,201 | 6,986 |
| Total equity | 2,848 | 2,909 |
| Borrowings | 630.47 | 306.99 |
| Cash and equivalents | 6.07 | 6.71 |
| Inventories | 2,609 | 2,338 |
| Trade receivables | 1,938 | 2,274 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 257.02 | −222.08 |
| Cash from investing | −237.58 | −124.81 |
| Cash from financing | −20.64 | 72.52 |
| Capital expenditure | 231.41 | 118.32 |
Source: Company's results filing (XBRL).
How has BEML done over the last 8 quarters?
Revenue over the last eight quarters ranged from ₹633.99 crore in Q1 FY26 to ₹1,794.17 crore in Q4 FY26. In Q2 FY27, revenue rose to ₹1,191.61 crore from ₹819.62 crore in Q1 FY27, and revenue increased year on year in each of the last four quarters.
Net profit ranged from a loss of ₹63.91 crore in Q1 FY26 to ₹288.04 crore in Q4 FY25. Q2 FY27 profit was ₹32.93 crore, recovering from a loss of ₹27.26 crore in Q1 FY27 but remaining below ₹54.8 crore in Q2 FY26. The EBITDA margin was 6.7%, above Q1 FY27’s 0.3% but below Q2 FY26’s 8.7%.
What else did the company announce?
In its same-day investor update filed on 5 November 2026, BEML reported an order book of ₹21,388 crore as on 30 September 2026. The filing showed an order book of ₹16,285 crore at the beginning of the year, ₹6,229 crore booked during the quarter, ₹1,126 crore executed during the quarter and ₹3,421 crore executed in subsequent years. The same filing also disclosed inventory of ₹2,608.51 crore, borrowings of ₹611.64 crore and trade receivables of ₹1938.20 crore.
The board approved the standalone and consolidated unaudited financial results for the quarter and half-year ended 30 September 2026 at its 426th meeting on 5 November 2026. The filing did not state any dividend, fund raise or appointment around the result.
What did the auditors point out?
The auditors included an Emphasis of Matter paragraph concerning BEML’s outlay of ₹7,488.90 lakhs in the MAMC Consortium and related advance of ₹624.20 lakhs to MAMC Industries Ltd. The auditors stated that recoverability depends on the sale or realisation of assets acquired from Mining & Allied Machinery Corporation Ltd., which was under liquidation, and that the value and timing of those realisations were presently not ascertainable.
Based on the factors set out in the note, management considered the amounts recoverable. The auditors also stated that the interim financial information had been reviewed by other auditors whose reports had been furnished to them, and that the consolidated interim results of two subsidiaries included assets of ₹3,389.8 lakhs.
Quick answers
What was BEML's revenue in Q2 FY27?
Revenue from operations was ₹1,192 crore, up 42.0% from ₹839.09 crore in Q2 FY26 (standalone).
Did BEML make a profit in Q2 FY27?
Yes. Net profit was ₹32.93 crore, against a net profit of ₹54.80 crore in Q2 FY26.
What was BEML's EPS in Q2 FY27?
Basic earnings per share were ₹3.95, against ₹13.16 in Q2 FY26.
When did BEML announce its Q2 FY27 results?
On 5 November 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Consider And Approve The Standalone And Consolidated Un-Audited Financial Results For The Second Quarter And Half-Year Ended 30.09.2026. (BSE, 28 October 2026) · PDF
- Outcome of Board Meeting (NSE, 5 November 2026) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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