BEML Ltd.

BEMLIndustrials filings

We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.

Earnings calls

8 transcript(s)/analyst meet(s) served; 8 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 8 documents here); elsewhere sentences render unattributed.

Kind	Date	Period	Served
TRANSCRIPT	20241219	unresolved	yes
COVER_LETTER	20230628	2023-03-31	no
COVER_LETTER	20230704	2023-06-30	no
COVER_LETTER	20231212	2023-09-30	no
COVER_LETTER	20240528	2024-03-31	no
COVER_LETTER	20241219	2024-09-30	no
DUPLICATE	20241219	2024-09-30	no
ANALYST_MEET	20250623	2025-03-31	yes
ANALYST_MEET	20251219	2025-09-30	yes
DUPLICATE	20251219	2025-09-30	no
TRANSCRIPT	20260223	2025-12-31	yes
TRANSCRIPT	20260616	2026-03-31	yes
TRANSCRIPT	20260819	2026-06-30	yes
COVER_LETTER	20260819	2026-06-30	no

BEML

files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.

Identity


Statement division	general
Scope served	consolidated
Panels on this page	4

Market

The closes are adjusted for every split and bonus on record inside the period this series covers, and each adjustment is checked against the price move on its ex-date.


Last close	2,044.40
52-week range	1369.4 – 2235.5
Return 1M	6.31%
Return 3M	16.91%
Return 1Y	-5.13%
Return 3Y	77.44%
Return 5Y	196.73%
Market capitalisation	not shown — we could not confirm it
Shares outstanding	not shown — we could not confirm it
P/E	not shown — we could not confirm it
P/B	not shown — we could not confirm it
EV/EBITDA	not shown — we could not confirm it

Latest quarter filed — period ending 2026-06-30

In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.


Revenue from operations	820.00
Other income	2.00
Total income	821.00
Cost of materials consumed	429.00
Purchases of stock-in-trade	0.00
Changes in inventories	28.00
Employee benefit expense	203.00
Finance costs	14.00

Ownership — 2026-06-30, and the change from 2026-03-31

Holder	Per cent	Change
promoter and promoter group	0.54	0.00
institutions foreign	0.05	-0.00
institutions domestic	0.19	0.01
mutual funds	0.18	0.00
public	0.46	0.00

Documents on file

Class	Most recent	On file
ANALYST_MEET	2025-09-30	2
COVER_LETTER	2026-06-30	6
DUPLICATE	2025-09-30	2
TRANSCRIPT	nan	4

Financial statements

Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.

Quarterly results, as filed

Line	2022-09-30	2022-12-31	2023-03-31	2023-06-30	2023-09-30	2023-12-31	2024-03-31	2024-06-30	2024-09-30	2024-12-31	2025-03-31	2025-06-30	2025-09-30	2025-12-31	2026-03-31	2026-06-30
Revenue from operations	805.00	1,037.00	1,388.00	577.00	917.00	1,047.00	1,514.00	634.00	860.00	876.00	1,653.00	634.00	839.00	1,083.00	1,794.00	820.00
Other income	1.00	3.00	19.00	1.00	7.00	34.00	5.00	1.00	15.00	5.00	4.00	9.00	7.00	4.00	10.00	2.00
Total income	806.00	1,040.00	1,407.00	578.00	924.00	1,081.00	1,518.00	635.00	875.00	880.00	1,656.00	643.00	846.00	1,087.00	1,804.00	821.00
Cost of materials consumed	588.00	465.00	652.00	274.00	473.00	556.00	844.00	377.00	474.00	395.00	791.00	372.00	478.00	559.00	912.00	429.00
Purchases of stock-in-trade	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Changes in inventories	-160.00	124.00	86.00	26.00	22.00	-21.00	-80.00	-66.00	-46.00	71.00	20.00	-47.00	-73.00	43.00	37.00	28.00
Employee benefit expense	211.00	214.00	202.00	209.00	206.00	211.00	197.00	214.00	201.00	207.00	205.00	209.00	203.00	223.00	200.00	203.00
Finance costs	11.00	12.00	12.00	10.00	11.00	8.00	11.00	9.00	16.00	17.00	13.00	10.00	10.00	12.00	14.00	14.00
Depreciation and amortisation	16.00	16.00	16.00	16.00	16.00	16.00	17.00	17.00	17.00	19.00	19.00	20.00	20.00	21.00	22.00	23.00
Other expenses	125.00	141.00	161.00	118.00	155.00	245.00	182.00	160.00	158.00	143.00	215.00	150.00	158.00	255.00	375.00	158.00
Total expenses	790.00	973.00	1,129.00	653.00	882.00	1,014.00	1,171.00	710.00	820.00	851.00	1,262.00	713.00	796.00	1,113.00	1,559.00	855.00
Profit before exceptional items and tax	16.00	66.00	278.00	-75.00	42.00	67.00	348.00	-75.00	55.00	30.00	395.00	-70.00	50.00	-25.00	245.00	-34.00
Exceptional items	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Profit before tax	16.00	66.00	278.00	-75.00	42.00	67.00	348.00	-75.00	55.00	30.00	395.00	-70.00	50.00	-25.00	245.00	-34.00
Current tax	0.00	0.00	70.00	0.00	12.00	15.00	78.00	0.00	3.00	5.00	92.00	7.00	1.00	9.00	112.00	0.00
Deferred tax	0.00	0.00	50.00	0.00	-22.00	4.00	13.00	-5.00	1.00	0.00	15.00	-13.00	2.00	-12.00	-47.00	-7.00
Tax expense	0.00	0.00	120.00	0.00	-10.00	19.00	91.00	-5.00	4.00	5.00	107.00	-6.00	2.00	-3.00	65.00	-7.00
Profit for the period	16.00	66.00	158.00	-75.00	52.00	48.00	257.00	-70.00	51.00	24.00	288.00	-64.00	48.00	-22.00	180.00	-27.00
Profit attributable to owners	0.00	—	158.00	0.00	52.00	—	—	-70.00	51.00	24.00	288.00	—	-48.00	-22.00	180.00	-27.00
Profit attributable to non-controlling interests	0.00	—	-0.00	0.00	-0.00	—	—	-0.00	-0.00	-0.00	-0.00	—	0.00	0.00	0.00	0.00
Other comprehensive income	-24.00	-24.00	51.00	-7.00	-3.00	-5.00	22.00	-2.00	-3.00	-1.00	8.00	1.00	-7.00	-1.00	3.00	-2.00
Total comprehensive income	-7.00	43.00	209.00	-82.00	48.00	43.00	278.00	-73.00	48.00	24.00	296.00	-63.00	41.00	-23.00	182.00	-29.00
Earnings per share, basic	3.90	15.92	37.87	-18.01	12.44	11.57	61.66	-16.92	12.26	5.86	69.05	-15.40	11.53	-2.69	21.59	-3.24
Earnings per share, diluted	3.90	15.92	37.87	-18.01	12.44	11.57	61.66	-16.92	12.26	5.86	69.05	-15.40	11.53	-2.69	21.59	-3.24

Annual results, as filed

Line	2020-03-31	2021-03-31	2022-03-31	2023-03-31	2024-03-31	2025-03-31	2026-03-31
Revenue from operations	3,025.00	3,557.00	4,337.00	3,899.00	4,054.00	4,022.00	4,351.00
Other income	49.00	60.00	6.00	24.00	42.00	24.00	29.00
Total income	3,074.00	3,617.00	4,343.00	3,923.00	4,097.00	4,046.00	4,380.00
Cost of materials consumed	1,882.00	2,037.00	2,269.00	2,099.00	2,147.00	2,036.00	2,320.00
Purchases of stock-in-trade	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Changes in inventories	-291.00	1.00	151.00	38.00	-52.00	-21.00	-41.00
Employee benefit expense	848.00	852.00	861.00	840.00	822.00	826.00	835.00
Finance costs	41.00	39.00	49.00	46.00	39.00	54.00	45.00
Depreciation and amortisation	72.00	71.00	66.00	64.00	64.00	71.00	83.00
Other expenses	503.00	529.00	747.00	558.00	695.00	676.00	938.00
Total expenses	3,055.00	3,530.00	4,143.00	3,645.00	3,715.00	3,642.00	4,180.00
Profit before exceptional items and tax	19.00	87.00	200.00	278.00	382.00	404.00	200.00
Exceptional items	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Profit before tax	19.00	87.00	200.00	278.00	382.00	404.00	200.00
Current tax	0.00	18.00	35.00	70.00	105.00	100.00	128.00
Deferred tax	-44.00	0.00	36.00	50.00	-5.00	12.00	-70.00
Tax expense	-44.00	18.00	71.00	120.00	100.00	111.00	58.00
Profit for the period	64.00	69.00	129.00	158.00	282.00	293.00	141.00
Profit attributable to owners	—	—	129.00	158.00	—	293.00	142.00
Profit attributable to non-controlling interests	—	—	-0.00	-0.00	—	-0.00	-0.00
Other comprehensive income	-44.00	-75.00	-26.00	-19.00	6.00	2.00	-4.00
Total comprehensive income	20.00	-7.00	102.00	139.00	288.00	295.00	137.00
Earnings per share, basic	15.29	16.50	30.88	37.91	67.66	70.24	16.97
Earnings per share, diluted	15.29	0.00	30.88	37.91	67.66	70.24	16.97

Balance sheet, as filed

Line	2022-09-30	2023-03-31	2023-09-30	2024-03-31	2024-09-30	2025-03-31	2025-09-30	2026-03-31
Total assets	5,041.00	5,010.00	4,901.00	5,445.00	5,982.00	5,872.00	5,935.00	7,011.00
Non-current assets	860.00	756.00	742.00	799.00	783.00	873.00	973.00	1,240.00
Current assets	4,181.00	4,254.00	4,116.00	4,647.00	5,036.00	4,947.00	4,963.00	5,771.00
Property, plant and equipment	575.00	522.00	472.00	493.00	506.00	543.00	562.00	645.00
Capital work-in-progress	8.00	9.00	27.00	37.00	45.00	107.00	171.00	276.00
Goodwill	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other intangible assets	25.00	25.00	21.00	35.00	31.00	37.00	34.00	39.00
Inventories	2,292.00	2,061.00	2,146.00	2,256.00	2,666.00	2,379.00	2,469.00	2,338.00
Trade receivables	1,187.00	1,237.00	1,116.00	1,439.00	1,452.00	1,696.00	1,439.00	2,274.00
Cash and cash equivalents	10.00	9.00	9.00	8.00	8.00	4.00	36.00	7.00
Total equity and liabilities	5,041.00	5,010.00	4,901.00	5,445.00	5,982.00	5,872.00	5,935.00	7,011.00
Equity	2,215.00	2,421.00	2,367.00	2,668.00	2,699.00	2,887.00	2,800.00	2,933.00
Equity share capital	42.00	42.00	42.00	42.00	42.00	42.00	42.00	42.00
Other equity	2,174.00	2,380.00	2,325.00	2,626.00	2,658.00	2,846.00	2,759.00	2,892.00
Total liabilities	2,826.00	2,589.00	2,534.00	2,778.00	3,283.00	2,986.00	3,136.00	4,077.00
Non-current liabilities	916.00	802.00	815.00	891.00	1,073.00	1,118.00	1,128.00	1,212.00
Current liabilities	1,910.00	1,786.00	1,719.00	1,887.00	2,210.00	1,867.00	2,008.00	2,866.00
Borrowings, non-current	10.00	10.00	0.00	0.00	0.00	9.00	14.00	15.00
Borrowings, current	636.00	372.00	380.00	61.00	638.00	220.00	652.00	292.00
Trade payables	527.00	678.00	577.00	760.00	684.00	710.00	617.00	1,024.00

Cash flow, as filed

Line	2022-09-30	2023-03-31	2023-09-30	2024-03-31	2024-09-30	2025-03-31	2025-09-30	2026-03-31
Net cash from operating activities	-66.00	563.00	37.00	458.00	-367.00	183.00	-243.00	118.00
Net cash from investing activities	—	-20.00	-6.00	-68.00	-177.00	-205.00	-73.00	-354.00
Net cash from financing activities	—	-335.00	-91.00	-130.00	142.00	-139.00	70.00	238.00
Purchase of property, plant and equipment	—	37.00	38.00	97.00	51.00	181.00	118.00	345.00
Net increase in cash	-66.00	208.00	-59.00	260.00	-402.00	-162.00	-246.00	2.00
con:CFO.BEFORE_TAX	-66.00	563.00	81.00	458.00	-367.00	305.00	-157.00	203.00
con:INTEREST_RECEIVED.OPERATING	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
con:INTEREST_PAID.OPERATING	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
con:DIVIDENDS_RECEIVED.OPERATING	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
con:TAX_PAID.OPERATING	—	0.00	44.00	0.00	0.00	122.00	87.00	85.00
con:CF_OTHER.OPERATING	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
con:INVESTMENTS_PURCHASED	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
con:INVESTMENTS_SOLD	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
con:PPE_DISPOSALS	—	56.00	0.00	1.00	0.00	3.00	51.00	55.00
con:CF_INVESTING.SUBSIDIARIES_SOLD	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
con:CF_INVESTING.SUBSIDIARIES_ACQUIRED	—	0.00	0.00	0.00	6.00	6.00	0.00	2.00
con:CF_INVESTING.JV_SOLD	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
con:CF_INVESTING.JV_ACQUIRED	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Who owns it

The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.

Holder	2023-03-31	2023-06-30	2023-09-30	2023-12-31	2024-03-31	2024-06-30	2024-09-30	2024-12-31	2025-03-31	2025-06-30	2025-09-30	2025-12-31	2026-03-31	2026-06-30
Promoter and promoter group	54.03	54.03	54.03	54.03	54.03	54.03	54.03	54.03	54.03	54.03	0.54	0.54	0.54	0.54
Domestic institutions	19.72	19.51	19.03	18.98	17.79	20.15	18.52	18.11	18.70	18.79	0.19	0.18	0.19	0.19
Mutual funds	—	—	—	—	—	—	—	—	—	17.66	0.17	0.17	0.18	0.18
Insurance companies	1.45	1.40	1.33	1.26	1.26	1.22	1.16	1.14	1.09	1.02	0.01	0.01	0.01	0.01
Foreign institutions	5.45	6.08	6.79	9.12	9.91	6.76	5.66	7.41	7.27	5.67	0.06	0.06	0.06	0.05
Government	—	—	—	—	—	—	—	—	—	—	0.00	—	—	—
Public	45.97	45.97	45.97	45.97	45.97	45.97	45.97	45.97	45.97	45.97	0.46	0.46	0.46	0.46
Non-institutional	20.80	20.38	20.15	17.87	18.27	19.06	21.78	20.45	20.01	21.51	0.22	0.22	0.22	0.21
Shares outstanding	41644500	41644500	41644500	41644500	41644500	41644500	41644500	41644500	41644500	41644500	41644500	83289000	83289000	83289000

Related parties

Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.

Counterparty	Relationship	Type	Amount in the period	Transactions
Vignyan Industries Limited	Subsidiary	Investment, Loan	6,495,000.00	2
Shri.Shantanu Roy	Chairman and Managing Director	Remuneration	3,873,000.00	1
Shri. Anil Jerath	Director	Remuneration	3,367,000.00	1
Shri. Ajit Kumar Srivastav	Director	Remuneration	3,314,000.00	1
Shri. Debi Prasad Satpathy	Director	Remuneration	1,566,000.00	1
Shri. Jai Gopal Mahajan	Company Secretary	Remuneration	1,332,000.00	1
Smt. Urmi Chaudhury	Company Secretary	Remuneration	605,000.00	1
MAMC Industries Limited	Subsidiary	Advance, Investment	19,000.00	2
BEML Midwest Limited	Joint Venture	Investment	0.00	1

What management said

Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.

Date	Quarter	Who spoke
2026-02-23	Q3FY26	LIMITED CONFERENCE CALL, PRIVATE LIMITED	Read the call
2025-12-19	Q2FY26		Read the call
2025-06-23	Q4FY25		Read the call

Some earlier announcements under this heading are covering letters only — no transcript was attached.

What they said about it, quarter by quarter

Topic	Q3FY26	Q4FY25
Capex	Firstly, how would you fund the capex of around INR1,500 odd crores?	Otherwise, we'll not be able to deliver unless we invest in Capex.
Debt and cash	The working capital also in terms of the number of days has gone down.	So, we have to bring down the working capital.
Demand	We are in the last quarter now, and the current order book that we have is more than INR16,000 crores -- in fact, it is INR16,300 crores, out of which…	No, \| said, no, the order book that we are expecting in 2026, Mining will contribute around 20% to it.
Guidance	In the balance period of the current financial year, we expect that we will cross INR20,000 crores in order book.	Let me start with our order book doubling guidance.
Margin	The challenging part has been the dip in the profit, the PBT, the PAT, and the EBITDA, and the total comprehensive income.	So if you look at the EBITDA graph from 5% to 7.7 % 10 9.2% ; 9.2 % to 11.9 %; 11.9 to 13.2%.
People	—	Average utilization What will the spectrum in the bandage?
Pricing	—	We monitor it based on that because a lot of our pricing is on cost basis or we pass on.
Revenue growth	We are trying; even in a capital goods industry, a growth of 10% CAGR, 10% to 15% is pretty decent.	And in real, it should be around 60% number two, as far as the top line is concerned in FY25, there were certain headwinds, because of which we could …