BDL and BEL ordered Rs 3.85 billion worth of BEML bags

29 Jun 2023 CW Team

State-owned BEML stated that it has received Rs 3.85 billion order from BDL and BEL. "We hereby tell you that BEML has received an order for the supply of High Mobility Vehicles (HMV) from BDL and BEL. The total contract value is Rs 3.85 billion, according to a regulatory filing from the business. It said, "This is in the ordinary course of business.

BEML had won a sizable contract from the Ministry of Defence (MOD) earlier this month for the supply of High Mobility vehicles. The contract was for a total of Rs 4.23 billion.

The company reported 18.2% improvement in consolidated net profit to Rs 1.57 billion in the fourth quarter of FY23 compared to Rs 1.33 billion in the same quarter last year when it released its fiscal fourth quarter results in May. PAT for BEML more than doubled quarter over quarter in Q4FY23. The growth was over 137.84% when compared to the December 2022 quarter, when PAT was Rs 660 billion.

While this was going on, the company's EBITDA increased by 25% to Rs 2.87 billion in Q4FY23 from Rs 2.29 billion in Q4FY22. EBITDA margins increased significantly from 13.6% in Q4FY22 to 20.6% in Q4FY23. Additionally, a 50% dividend for its stockholders had been declared.

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