BEML inks MoU with DMRC led SPV for Bahrain metro rail project

In accordance with this announcement, BEML will be in charge of producing and supplying Metro Rolling Stock, while DMRC will contribute expertise in the areas of project development, budgeting, and facilitating contractual requirements. By utilising its manufacturing expertise and technological resources, BEML will be able to expand globally and optimise business processes for Metro Rolling Stock used in urban transportation.

BEML has said in a stock exchange filing that “The Board of Directors has also declared an Interim Dividend of ₹5 per equity share (i.e. 50% of paid-up share capital) for the Financial Year 2022-23, which will be paid to the eligible shareholders as on the record date i.e. on 24.02.2023.”

‘During Q3FY23, the company reported net sales of ₹1,036.97 crore on a consolidated basis, down by 11.70% from Rs. 1,174.50 crore in Q3FY22. The net profit of BEML stood at ₹66.30 Cr in Q3FY23 compared to Rs. 78.51 Cr in the year-ago quarter, representing a fall of 15.55% YoY. The EPS of BEML reached Rs. 15.92 in the quarter ended December 2022 against Rs. 18.85 recorded in the quarter ended December 2021.

Defence & Aerospace, Mining & Construction, and Rail & Metro are the three main business verticals in which BEML Limited operates. Nine production facilities in Bangalore, Kolar Gold Fields (KGF), Mysore, and Palakkad serve the three verticals. Currently, MNCs are the major source of fierce rivalry for over 87% of the overall business, while products created in-house by R&D account for over 68% of the total.

During Aero India 2023 held between 13 to 17 Feb 2023 at Bangalore, BEML has signed various MOUs. The shares of BEML closed today on the NSE at ₹1,400 apiece, down by 2.11% from the previous close of ₹1,430.15.