BEML

BEML Limited

Engineering manufacturer of construction vehicles

Industrials›Capital Goods›Agricultural, Commercial & Construction Vehicles›Construction Vehicles

bemlindia.in(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹1968.50
Market cap
16,418 Cr
Stock P/E
92.1
P/B
5.59
Dividend yield
0.5%
ROE (FY26)
4.8%
ROCE (FY26)
7.6%
Operating margin (FY26)
5.0%
Debt / equity (FY26)
0.10
OCF / EBITDA (FY26)
39.5%
OCF / EBITDA (3Y)
60.9%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

BEML builds heavy machines for India: mining and construction equipment, metro and railway coaches, and military vehicles, selling mainly to government-linked buyers such as coal producers, metro corporations, the railways and the armed forces.

Company snapshot

1stBy market cap

Ranked among 5 companies in Construction Vehicles.

What we see

Positives
  • ✓Debt-to-equity of 0.10x — the company is largely funded by its own money, not borrowed funds.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales917 Cr1,047 Cr1,514 Cr634 Cr860 Cr876 Cr1,653 Cr634 Cr839 Cr1,083 Cr1,794 Cr820 Cr
Operating expenses (approx.)855 Cr991 Cr1,143 Cr684 Cr787 Cr815 Cr1,230 Cr683 Cr766 Cr1,080 Cr1,523 Cr818 Cr
EBITDA61 Cr56 Cr370 Cr-50 Cr73 Cr60 Cr423 Cr-49 Cr73 Cr4 Cr272 Cr2 Cr
OPM %6.7%5.3%24.5%-7.9%8.5%6.9%25.6%-7.8%8.7%0.3%15.1%0.2%
Other income7 Cr34 Cr5 Cr0.53 Cr15 Cr5 Cr4 Cr9 Cr7 Cr4 Cr10 Cr2 Cr
Interest11 Cr8 Cr11 Cr9 Cr16 Cr17 Cr13 Cr10 Cr10 Cr12 Cr14 Cr14 Cr
Depreciation16 Cr16 Cr17 Cr17 Cr17 Cr19 Cr19 Cr20 Cr20 Cr21 Cr22 Cr23 Cr
Profit before tax42 Cr67 Cr348 Cr-75 Cr55 Cr30 Cr395 Cr-70 Cr50 Cr-25 Cr245 Cr-34 Cr
Tax %-22.8%27.9%26.1%6.5%6.8%17.5%27.2%8.8%4.5%11.9%26.6%19.9%
Net profit52 Cr48 Cr257 Cr-70 Cr51 Cr24 Cr288 Cr-64 Cr48 Cr-22 Cr180 Cr-27 Cr
EPS (₹)₹12.44₹11.57₹61.66₹-16.92₹12.26₹5.86₹69.05₹-15.40₹11.53₹-2.69₹21.59₹-3.24

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales2,829 Cr3,299 Cr3,474 Cr3,025 Cr3,557 Cr4,337 Cr3,899 Cr4,054 Cr4,022 Cr4,351 CrSign in free for the trailing twelve months
Operating expenses (approx.)2,683 Cr3,046 Cr3,237 Cr2,942 Cr3,419 Cr4,028 Cr3,535 Cr3,612 Cr3,517 Cr4,052 CrSign in free for the trailing twelve months
EBITDA147 Cr253 Cr238 Cr84 Cr138 Cr310 Cr364 Cr442 Cr506 Cr299 CrSign in free for the trailing twelve months
OPM %5.2%7.7%6.8%2.8%3.9%7.1%9.3%10.9%12.6%6.9%Sign in free for the trailing twelve months
Other income63 Cr25 Cr23 Cr49 Cr60 Cr6 Cr24 Cr42 Cr24 Cr29 CrSign in free for the trailing twelve months
Interest48 Cr48 Cr60 Cr41 Cr39 Cr49 Cr46 Cr39 Cr54 Cr45 CrSign in free for the trailing twelve months
Depreciation63 Cr65 Cr71 Cr72 Cr71 Cr66 Cr64 Cr64 Cr71 Cr83 CrSign in free for the trailing twelve months
Profit before tax98 Cr164 Cr130 Cr19 Cr87 Cr200 Cr278 Cr382 Cr404 Cr200 CrSign in free for the trailing twelve months
Tax %13.7%21.0%51.6%-228.9%21.1%35.6%43.1%26.2%27.6%29.2%Sign in free for the trailing twelve months
Net profit85 Cr130 Cr63 Cr64 Cr69 Cr129 Cr158 Cr282 Cr293 Cr141 CrSign in free for the trailing twelve months
EPS (₹)₹20.36₹20.36₹15.17₹15.29₹16.50₹30.88₹37.91₹67.66₹70.24₹16.97Sign in free for the trailing twelve months
Dividend payout %—————27.3%20.4%14.8%29.1%63.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital42 Cr42 Cr42 Cr42 Cr42 Cr42 Cr42 Cr42 Cr42 Cr42 Cr
Reserves2,141 Cr2,159 Cr2,146 Cr2,211 Cr2,173 Cr2,315 Cr2,380 Cr2,626 Cr2,846 Cr2,892 Cr
Borrowings425 Cr440 Cr402 Cr240 Cr642 Cr832 Cr381 Cr61 Cr229 Cr307 Cr
Other liabilities2,098 Cr2,044 Cr2,423 Cr2,579 Cr2,878 Cr2,521 Cr2,207 Cr2,717 Cr2,757 Cr3,770 Cr
Total liabilities4,706 Cr4,686 Cr5,012 Cr5,072 Cr5,734 Cr5,709 Cr5,010 Cr5,445 Cr5,872 Cr7,011 Cr
Fixed assets (net)531 Cr543 Cr584 Cr569 Cr559 Cr593 Cr522 Cr493 Cr543 Cr645 Cr
CWIP79 Cr68 Cr25 Cr15 Cr9 Cr6 Cr9 Cr37 Cr107 Cr276 Cr
Investments0.0004 Cr0.0004 Cr0.0004 Cr0 Cr0 Cr0.0004 Cr0.0004 Cr0 Cr6 Cr8 Cr
Loans & advances———0 Cr0 Cr0 Cr1 Cr4 Cr9 Cr12 Cr
Inventories1,979 Cr1,807 Cr1,710 Cr2,008 Cr1,975 Cr2,073 Cr2,061 Cr2,256 Cr2,379 Cr2,338 Cr
Trade receivables1,431 Cr1,642 Cr1,614 Cr1,510 Cr1,885 Cr1,861 Cr1,237 Cr1,439 Cr1,696 Cr2,274 Cr
Cash & bank15 Cr3 Cr22 Cr27 Cr4 Cr22 Cr9 Cr8 Cr4 Cr7 Cr
Other assets670 Cr623 Cr1,057 Cr942 Cr1,302 Cr1,154 Cr1,170 Cr1,208 Cr1,128 Cr1,451 Cr
Total assets4,706 Cr4,686 Cr5,012 Cr5,072 Cr5,734 Cr5,709 Cr5,010 Cr5,445 Cr5,872 Cr7,011 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity209 Cr130 Cr257 Cr106 Cr—51 Cr563 Cr458 Cr183 Cr118 Cr
Cash from investing-59 Cr-62 Cr-62 Cr-51 Cr—-25 Cr-20 Cr-68 Cr-205 Cr-354 Cr
Cash from financing-160 Cr-101 Cr-129 Cr3 Cr—-10 Cr-335 Cr-130 Cr-139 Cr238 Cr
Net cash flow-11 Cr-33 Cr65 Cr57 Cr—16 Cr208 Cr260 Cr-162 Cr2 Cr
Free cash flow (OCF − Capex)144 Cr64 Cr192 Cr49 Cr—9 Cr515 Cr357 Cr-10 Cr-263 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %5.6%8.0%7.3%2.4%4.4%7.8%11.6%15.4%14.7%7.6%
ROE %3.9%5.9%2.9%2.8%3.1%5.5%6.5%10.6%10.1%4.8%
Debtor days184181169182193156115130153190
Inventory days542385319389353333358383425367
Days payable13711514312913390118129127161
Cash conversion cycle589451345443413399355384452396
OCF / EBITDA %142.4%51.3%108.1%n.m.—16.6%154.6%103.5%36.2%39.5%
OCF / EBITDA % (3 years)——93.5%85.8%———96.1%91.8%60.9%
Debt / equity0.190.200.180.110.290.350.160.020.080.10
Current ratio2.252.242.072.882.322.382.382.462.652.01
Net debt / EBITDA2.80—1.602.534.632.611.020.120.441.00