BEML

Aug 11 (Reuters) - India's state-owned BEML BEML.NS reported a narrower first-quarter loss on Monday, helped by better order execution and a surge in non-operating income.

The heavy equipment manufacturer reported a loss of 641.1 million rupees ($7.3 million) in the April-June period, compared to a loss of 704.7 million rupees in the year-ago quarter.

India's manufacturing sector activity INPMI=ECI hit a 10-month-high in April and a 14-month-high in June, led by a surge in exports.

The Bengaluru-based firm's revenue was largely unchanged at 6.34 billion rupees, but its non-operating income, usually income from investments, surged 16-fold to 85.7 million rupees.

BEML is known for its mainstay railway business, which makes India's Vande Bharat express trains as well as metro rail coaches. Last year, however, the business reported lower revenue due to weak execution of past orders.

The company's Managing Director, Shantanu Roy, told CNBC-TV18 in May that he expects the business to scale up in the current year on improved order executions and also form the bulk of new contracts, which are expected to take the company's order book to 220 billion rupees from about 146 billion rupees in fiscal 2025.

BEML is also targeting a 150-basis-point improvement in its earnings before interest, taxes, depreciation and amortisation (EBITDA) margin to about 14.5% in fiscal 2026.

Expenses were flat for BEML, which also makes missile launch vehicles, with raw material and employee costs inching marginally lower.

($1 = 87.6170 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru)

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Aug 4 (Reuters) - BEML Ltd BEML.NS:

• GOT CONTRACT VALUED ABOUT 2.82 BILLION RUPEES

Source text: ID:nBSE1tVYSH

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July 25 (Reuters) - BEML Ltd BEML.NS:

• BEML LTD - CO, HINDUSTAN SHIPYARD SIGN MOU FOR MARINE SYSTEMS

Source text: ID:nBSE3ftgPT

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July 23 (Reuters) - BEML Ltd BEML.NS:

• BEML LTD - BAGGED ORDER WORTH 2.94 BILLION RUPEES

Source text: [ID:]

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July 21 (Reuters) - BEML Ltd BEML.NS:

• BEML LTD - SUB-DIVISION OF 1 SHARE INTO 2 SHARES

Source text: [ID:]

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July 11 (Reuters) - BEML Ltd BEML.NS:

• BOARD TO DISCUSS EQUITY SHARE SPLIT

Source text: ID:nBSE6pvmDF

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** Shares of BEML BEML.NS rise 1.6% to 4,598 rupees, set to gain for third straight session

** Construction vehicles maker bags two export orders worth $6.23 Mln

** First order from Commonwealth of Independent States region to supply heavy duty bulldozers and second order from Uzbekistan to Supply high performance motor grader

** BEML up ~13% YTD

(Reporting by Vijay Malkar)

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July 4 (Reuters) - BEML Ltd BEML.NS:

• GETS CONTRACT WORTH $6.23 MILLION

Source text: ID:nBSE7HTWjk

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** Shares of BEML BEML.NS rise 2.3% to 4470.90 rupees

** NDTV Profit reports the state-owned railways and defence engineering firm is in the race to secure the Mumbai suburban rail network upgrade project

** Report says Mumbai Railway Vikas Corporation is set to re-invite tender for a revamp of Mumbai local trains, citing a senior industry executive

** BEML did not immediately respond to a Reuters email seeking comment

** BEML shares are up 7.6% in 2025 so far, outperforming the 2% drop in small-cap index .NIFSMCP100

(Reporting by Bharath Rajeswaran in Bengaluru)

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** Shares of BEML Ltd BEML.NS surge 12.3% to 4,174.3 rupees

** Stock hits its highest level since early January

** State-owned railways and defence engineering firm expects revenue to grow 20% and margins of 14.5% in FY26, its Chairman Shantanu Roy tells CNBC-TV18

** Expecting order book to rise to 220 billion rupees ($2.6 billion) from 140 billion rupees by FY25-end, Roy tells channel

** Trading volume at 4 mln shares; 7.5x the 30-day average

** Stock turns positive YTD, last up 3%

($1 = 84.9800 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru)

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May 23 (Reuters) - BEML Ltd BEML.NS:

• BEML Q4 CONSOL PROFIT 2.88 BILLION RUPEES

• BEML Q4 CONSOL REVENUE FROM OPERATIONS 16.53 BILLION RUPEES

Source text: [ID:]

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** Indian defence stocks climb after India attacked Pakistan and Pakistan-administered Kashmir on Wednesday

** Pakistan said it had shot down five Indian fighter jets in the worst fighting in more than two decades between the nuclear-armed enemies

** Defence equipment maker Paras Defence PRAF.NS and ship-builder Garden Reach GRSE.NS lead gains, climb ~3% each

** Mazagon Dock MAZG.NS up 2%, Bharat Electronics BAJE.NS and Bharat Dynamics BARA.NS rise 0.3% each

** Defence index .NIFTYINDDEFENCE up 0.6% in broadly flat market .BO

(Reporting by Kashish Tandon in Bengaluru)

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** BEML BEML.NS rises 2.3% to 3,215 rupees

** Rail coaches and metro cars maker gets order worth 4.05 bln rupees ($47.4 million) from Bengaluru Metro Rail Corp Ltd (BMRCL) to manufacture metro cars, train personnel

** Contract includes maintenance services for up to 15 years

** Stock sees busiest session since September 4, 2024, with ~2 mln shares traded - 4.6x the 30 day avg

** Stock gains ~1% in the last 12 months

(Reporting by Ananta Agarwal in Bengaluru)

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March 27 (Reuters) - BEML Ltd BEML.NS:

• BEML LTD - GOT CONTRACT FROM BENGALURU METRO RAIL CORPORATION

• BEML LTD - SECURES CONTRACT FROM BMRCL FOR BENGALURU METRO RAIL PROJECTS

• BEML LTD - CONTRACT VALUE APPROXIMATELY 4.05 BILLION RUPEES

Source text: ID:nBSEDS4mh

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** Shares of BEML Ltd BEML.NS climb 2.8% to 2,560.30 rupees

** BEML on Wednesday evening said it has signed a non-binding agreement with Siemens' Indian unit SIEM.NS to jointly explore metro rail and semi-high-speed train manufacturing

** State-owned firm also partnered with Dragflow and Italy Forge to explore dredging solutions

** Over 626,000 shares traded, 1.7x the 30-day avg volume

** BEML trims YTD losses to 37%

(Reporting by Nandan Mandayam in Bengaluru)

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March 12 (Reuters) - BEML Ltd BEML.NS:

• BEML LTD - CO AND SIEMENS SIGN MOU TO EXPLORE TRAIN AND METRO MARKETS

• BEML LTD - CO AND DRAGFLOW S.R.L., ITALY FORGE SIGN MOU TO STRENGTHEN DREDGING SOLUTIONS

Source text: ID:nBSE7P05pd

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** Shares of India's BEML BEML.NS slide 3.2% to 3,278 rupees, extends losses to fifth straight session

** Heavy machinery maker's consol Q3 profit nearly halved, rev from ops dropped 16% y/y

** Trading vols at ~429k shares vs 30-day avg of 248.6k shares

** Stock has dropped ~20% so far in 2025

(Reporting by Hritam Mukherjee in Bengaluru)

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Updates with details, market reaction and analyst quotes

MUMBAI, Feb 1 (Reuters) - India's federal government will spend a record 11.21 trillion rupees ($129.54 billion) on infrastructure in the upcoming financial year that begins on April 1, but the increase in planned spending disappointed markets.

The spending plan is slightly higher than the revised 10.18 trillion rupees for the current fiscal year, as per budget documents.

Alongside this, the government has set aside 1.5 trillion rupees for 50-year interest-free loans to states for infrastructure development for 2025-26.

WHY IT'S IMPORTANT

India significantly raised spending on infrastructure after the COVID-19 pandemic, as it tried to boost economic growth and create more jobs in the world's most populous country.

However, the government failed to meet its planned capital spending target of 11.11 trillion rupees in the current financial year.

Growth in Asia's third-largest economy is seen slowing to 6.4% in the current fiscal year, from 8.2% in the previous year, prompting calls for measures to kick-start private investment and job creation.

A failure to create enough well-paying jobs in a country of more than 1.4 billion people, where the majority are under the age of 30, has led to curtailed consumption and investment.

GRAPHIC

KEY QUOTES

"The next year's capex target has seen 10% increase, which will be positive for crowding in private investments," said Sonal Badhan, economist at Bank of Baroda.

"We believe that ~10% growth in capex budget from downward my revised FY25 levels while balancing focus on the fiscal consolidation roadmap is a positive," said Kanika Pasricha, economist at Union Bank of India.

"More importantly, demand stimulus via tax cuts is likely to further help support pickup in private capex recovery even as public capex is hitting absorptive capacity in recent years," Pasricha said.

MARKET REACTION

Stocks of capital goods companies such as Larsen & Toubro LART.NS declined 4%, while Siemens SIEM.NS and BEML BEML.NS fell 5.3% and 1.3% respectively.

($1 = 86.5360 Indian rupees)

(Reporting by Siddhi Nayak; Editing by Varun H K)

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By Nikunj Ohri and Sarita Chaganti Singh

NEW DELHI, Jan 27 (Reuters) - Indian Prime Minister Narendra Modi is pouring billions into ailing state-run firms after slowing ambitious divestment plans that were intended to reduce the role of the state in business, according to government sources and a document reviewed by Reuters.

Less than a month into 2025, New Delhi has plans to invest about $1.5 billion in financial rescue packages for two state-owned firms after failing to sell them to private companies.

It has also decided to put in "abeyance" privatisation of at least nine state-owned units after opposition from relevant ministries, according to a document that detailed recommendations of a government panel set up to identify privatisation candidates. The document, reviewed by Reuters, did not cite reasons for the decision.

The nine companies include Madras Fertilizers MDFT.NS, Fertilizer Corp of India, MMTC MMTC.NS and NBCC (India) NBCC.NS, the document showed.

Housing and Urban Development Corp HUDC.NS, that was also identified for privatisation, has now been 'exempted' implying it will not be sold, according to the document.

Among the state-owned companies being revived with government funding is helicopter operator Pawan Hans.

The government is planning to infuse around $230 million-$350 million in Pawan Hans to modernise its aging fleet of helicopters after four failed attempts to sell the company, two government sources said.

The amount of infusion is still being finalised as the options being considered for fleet modernisation include both outright acquisition and leasing, one of the sources said.

The sources declined to be identified because of the sensitivity of the issue.

India's finance and civil aviation ministries did not immediately reply to e-mails seeking comment on the privatisation plans or on the Pawan Hans investment.

The fund infusion in Pawan Hans and plans to halt the privatisation of nine firms have not been previously reported.

In 2021, Modi's government announced a major programme to privatise most of India's state-run companies. The plan was so drastic that even in the four sectors that India sees as sensitive, such as telecoms and banking, it wanted to keep only a minimum presence, while exiting from all other sectors.

But now it is planning rescue and revival plans for companies even outside the sensitive sectors.

Last week, the government announced a $1.3 billion plan to revive debt-laden steel producer Rashtriya Ispat Nigam Ltd (RINL).

The government has also allocated 80 billion rupees in 2024/25 for bond repayments of state-run telco MTNL that has seen a series of defaults lately, according to budget documents for the current year.

PRIVATISATION SLOWDOWN

Four years since the privatisation policy was announced, the Modi government has had only three successes, out of which Air India's sale to the Tata Group was the largest. The other two were indirect holdings in steel-maker Neelachal Ispat Nigam Ltd to Tata Steel TISC.NS and Ferro Scrap Nigam to Konoike Transport Co 9025.T.

Other large sales have either been deferred or delayed.

The U-turn in policy was partly driven by the expectation that some large state-owned firms could be overhauled and made more profitable, helping the government earn dividend income, Reuters has reported previously.

Political pressures on Modi have increased after he came back to power in mid-2024 only with the help of regional allies, making it more difficult to overcome opposition to privatisation by employee unions fearing job losses.

The sale of state refiner Bharat Petroleum Corp BPCL.NS was rolled back in 2022 after failing to get suitors. The ongoing privatisation of Shipping Corp of India SCI.NS and BEML BEML.NS has been stuck for years due to complications over transfer of land holdings. The government has also been dragging its feet on the sale of a majority stake in IDBI Bank IDBI.NS.

In previous years, privatisation formed an important part of the government’s plan to reduce its budget gap. But with the federal fiscal deficit seen falling to a more comfortable 4.9% of GDP in the 2024-25 year, the fiscal push for divestment has waned.

New Delhi is expected to miss its internal stake sale target of 180 billion to 200 billion rupees in 2024-25 (April-March) for the sixth straight year. As of January, government has mopped up 86.25 billion rupees via stake sales in 2024/25.

($1 = 86.4250 Indian rupees)

(Reporting by Nikunj Ohri and Sarita Chaganti Singh; Editing by Ira Dugal and Raju Gopalakrishnan)

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Dec 26 (Reuters) - Presstonic Engineering Ltd PESS.NS:

• PRESSTONIC ENGINEERING - RECEIVES PURCHASE ORDER FROM BEML WORTH 145.1 MILLION RUPEES

Source text: ID:nNSE5gdFq7

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Dec 20 (Reuters) - BEML Ltd BEML.NS:

• PRESSTONIC ENGINEERING LTD - RECEIVES PURCHASE ORDER FROM BEML

• PRESSTONIC ENGINEERING LTD - TOTAL ORDER VALUE 22.8 MILLION RUPEES

Source text: ID:nNSE1gZR17

Further company coverage: BEML.NS

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** Shares of BEML

** Heavy machinery maker gets 1.36 bln rupees ($16 mln)contract from Ministry of Defence for supply of high mobility

vehicles

** Day's gains help boost BEML's YTD gains to 60%

($1 = 84.8510 Indian rupees)

(Reporting by Yagnoseni Das in Bengaluru)

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Dec 10 (Reuters) - BEML Ltd BEML.NS:

• BAGGED ORDER FROM THE MINISTRY OF DEFENCE FOR 835.1 MILLION RUPEES

Source text: ID:nNSEb6XbjY

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** Shares of BEML Ltd BEML.NS rise as much as 3.6% to 4,339 rupees

** Heavy machinery maker secures contract from Chennai Metro Rail worth 25.01 bln rupees ($296.1 mln)

** Stock on track to gain for sixth straight day

** Day's gains bring BEML's YTD gains to 51.5%

($1 = 84.4600 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru)

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Nov 20 (Reuters) - BEML Ltd BEML.NS:

• BEML LTD - GOT ORDER WORTH 2.47 BILLION RUPEES

• BEML LTD - ORDER FROM CENTRAL COALFIELDS LIMITED

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Nov 11 (Reuters) - India's BEML BEML.NS reported a 1.5% fall in its second-quarter profit on Monday, hurt by lower demand for its heavy machinery and equipment as manufacturing activity dipped.

The state-owned company makes machinery and products for industries like aerospace, mining, rail and metro and has clients such as Rail Vikas Nigam RAIV.NS, Adani Power ADAN.NS and Chennai Metro Rail.

India's manufacturing activity growth eased in the last two months of the September quarter as demand softened, according to a survey. Overall growth was hurt by a softer rise in new business and orders. nL4N3L2051

BEML's consolidated profit fell to 510.3 million rupees ($6.1 million) in the quarter ended Sept. 30, compared to 517.8 million rupees a year earlier.

The company's revenue from operations fell 6.2% to 8.6 billion rupees, after four quarters of rise.

Cost of materials consumed, which makes up more than half of the total expenses, grew 0.2% in the quarter, while total expenses fell by 7% to 8.2 billion rupees.

BEML executed orders worth 8.11 billion rupees during the quarter, compared with 9.10 billion rupees a year earlier.

Rival railway coach-maker Jupiter Wagons JUWL.NS reported a 9.3% rise in its September-quarter profit.

BEML's shares were down 0.6% after the results. They have risen 47.5% so far this year, while those of Jupiter Wagons have jumped 47.8%.

($1 = 84.3800 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru; Editing by Mrigank Dhaniwala)

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Oct 15 (Reuters) - BEML Ltd BEML.NS:

• BEML LTD - GETS CONTRACT FROM INTEGRAL COACH FACTORY

• BEML LTD - TOTAL CONTRACT VALUE IS 8.67 BLN RUPEES

• BEML LTD - GETS CONTRACT FOR DESIGN, MANUFACTURING OF HIGH-SPEED RAIL

Source text for Eikon: [ID:]

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Corrects to remove extraneous words in first bullet point

** Defence stocks up; BEML's BEML.NS 3.6% rise is largest

** India's defence ministry approved purchases worth 1.45 trln rupees ($17.27 bln) of military equipment

** Nomura says BEML is among potential beneficiaries of the key order for Future Ready Combat Vehicles; adds that HAL's HIAE.NS aircraft order was in line with its expectation and already factored into estimates

** Antique Stock Broking says state-run defence cos have strong growth opportunity near-to-long term with the approval

** BEML set for best day since Aug. 7

** Shipbuilding stocks had risen on Tuesday on reports that government will approve the defence projects

** Bharat Forge BFRG.NS only one in the pack that is down

* Data from LSEG

($1 = 83.9525 Indian rupees)

(Reporting by Varun Vyas in Bengaluru)

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** Shares of engineering equipment maker BEML BEML.NS are up nearly 3%

** Co partners with Indian Navy for manufacturing and testing of marine equipment and systems

** It also signed a memorandum of understanding with Malaysia's largest rolling stock manufacturer SMH Rail for joint manufacturing and repair of rolling stock for rail and metro

** Stock is up 40% YTD but trails behind Bharat Electronics BAJE.NS and Bharat Dynamics BARA.NS which are up 65.5% and 53% respectively

(Reporitng by Nishit Navin)

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Aug 21 (Reuters) - BEML Ltd BEML.NS:

• INDIA GOVERNMENT: INDIAN NAVY SIGNS MOU WITH BEML

• INDIA GOVERNMENT: INDIAN NAVY SIGNS MOU WITH BEML TO DRIVE INDIGENISATION OF MARINE EQUIPMENT AND SYSTEMS

Source text for Eikon: [ID:]

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