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Swing Capital

BEML Ltd

NSE: BEML BSE: 500048Infra

BEML Ltd manufactures a wide range of heavy earthmoving equipment catering to the mining and construction industry, vehicles for defense forces and coaches for the metro and Indian Railways.[1]

₹1,739
52W: ₹1355 — ₹2437
PE 56.5 · Book ₹333 · +422% vs book
Market Cap₹14,483 Cr
Stock P/E56.5Price to Earnings
ROCE16.1%Return on Capital
ROE10.6%Return on Equity
Div. Yield0.6%Face Value ₹5

Strengths

  • +Company has delivered good profit growth of 33.8% CAGR over last 5 years
  • +Company has been maintaining a healthy dividend payout of 28.3%

Weaknesses

  • −Stock is trading at 5.24 times its book value
  • −The company has delivered a poor sales growth of 5.84% over past five years.
  • −Company has a low return on equity of 9.53% over last 3 years.
  • −Company has high debtors of 154 days.

Shareholding Pattern

Promoters54.03%
FIIs5.59%
DIIs18.71%
Public21.68%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters54.03%54.03%54.03%54.03%54.03%54.03%54.03%54.03%
FIIs6.76%5.66%▼1.17.41%▲1.87.26%▼0.25.67%▼1.65.82%▲0.25.51%▼0.35.59%▲0.1
DIIs20.14%18.51%▼1.618.1%▼0.418.69%▲0.618.8%▲0.118.54%▼0.318.39%▼0.118.71%▲0.3
Public19.08%21.79%▲2.720.45%▼1.320%▼0.421.51%▲1.521.62%▲0.122.08%▲0.521.68%▼0.4

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales9171,0471,5146348608761,6536348391,083
Expenses8589911,1436847878151,2306827661,080
Operating Profit5956370-507360423-48734
OPM %6%5%24%-8%8%7%26%-8%9%0%
Net Profit5248257-705125288-6455-23
EPS ₹6.265.8130.87-8.416.172.9734.58-7.676.58-2.73

AI Insights

Revenue Trend

TTM revenue at ₹4,209Cr, up 4.6% YoY. OPM at 11%.

Debt Position

Borrowings at ₹666Cr. Debt-to-equity ratio: 0.24x. Healthy balance sheet.

Capex Cycle

CWIP at ₹171Cr (29% of fixed assets). Significant capex underway — growth runway building.

Institutional Flow

DIIs: 18.71% (-0.80pp change). FIIs: 5.59% (-0.49pp change). Promoters hold 54.03%.

Margin & Efficiency

ROCE improving from 4% (Mar 2014) to 16% (Mar 2025). Working capital days: 296.

Valuation

PE 56.5x with 16.1% ROCE. Price is 422% above book value of ₹333. Dividend yield: 0.6%.

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