BEML Bags Rs. 385 Crore Order from BDL and BEL
BEML Ltd, a state-owned company, has announced its successful bid for an order worth Rs. 385 crore from BDL and BEL. The company revealed this information through an official regulatory filing, stating that the order pertains to the supply of High Mobility vehicles (HMV). BEML emphasized that this order is part of its regular business operations.
In a noteworthy development earlier this month, BEML secured a significant contract from the Ministry of Defence (MOD) for the supply of High Mobility vehicles, with a total contract value of Rs. 423.11 crore.
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During May, BEML disclosed its fiscal fourth quarter results, highlighting a remarkable 18.2 percent growth in consolidated net profit. The company’s net profit for the fourth quarter of FY23 amounted to Rs. 157.7 crore, compared to Rs. 133 crore during the same quarter the previous year. Notably, BEML’s profit after tax (PAT) more than doubled on a quarter-on-quarter basis, registering a growth of approximately 137.84 percent compared to the PAT of Rs. 66.30 crore in the December 2022 quarter.
About BEML:
BEML Limited, previously known as Bharat Earth Movers Limited, is an Indian government-owned company that specializes in the production of various heavy equipment for earth moving, railways, transportation, and mining purposes. Its headquarters are located in Bangalore. BEML holds the position of being the second-largest manufacturer of earth moving equipment in Asia.
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