BEML

By Nikunj Ohri and Sarita Chaganti Singh

NEW DELHI, Aug 21 (Reuters) - India is set to approve a $1.2-billion incentive scheme for the making of high-value, technologically sophisticated construction and infrastructure equipment, two government sources said, in a bid to reduce dependence on China for critical machinery.

The scheme, which is expected to be finalised soon, aims to draw $1.8 billion in fresh investment by offering incentives over seven years to domestic manufacturers of equipment including tunnel boring machines, fire-fighting equipment and elevators used in high-rise buildings, one of two the sources said.

India remains heavily dependent on imported tunnel boring machines, with China among the key suppliers of tunnelling and other boring equipment used in metro rail and highway construction, underscoring the country's long-standing struggle to build domestic manufacturing capacity.

The government of Prime Minister Narendra Modi is making a renewed push to reduce reliance on key imports even as previous attempts to boost domestic manufacturing have failed to make a dent.

The new scheme has been designed after assessing the incentives required to make local production viable against the country's existing import dependence, the sources said.

The incentive plan could benefit state-run BEML BEML.NS, which has plans to domestically manufacture tunnel boring machines, along with other equipment makers including Larsen and Toubro LART.NS and Johnson Lifts.

The plan would also include targets for local value addition for machines that are presently fully imported.

A final decision on the incentive plan is expected soon, both the sources said. India's federal heavy industries ministry and finance ministry did not respond to a request for comment.

India's construction and infrastructure equipment market, valued at 1 trillion rupees ($10.5 billion), is set to expand as the country accelerates spending on roads, metros, airports and other infrastructure.

CHINESE DEPENDENCE

Following the 2020 deadly border clashes between Indian and Chinese troops, New Delhi had imposed restrictions on investments and public procurement from Beijing.

In 2024, China gradually imposed restrictions on exports of tunnel boring machines by delaying customs clearances for shipments to India.

Imports of tunneling machinery from China dropped to $3 million in 2023-24 from $18 million a year earlier. They fell further to $500,000 in 2024-25, and were $800,000 in 2025-26.

The issue of easing restrictions on tunnel boring machines also figured in bilateral talks between the two countries last year.

In 2026, India eased restrictions on investments made by Chinese companies and gradually allowed Chinese firms to participate in government contracts.

The incentive plan aims to address the gap where India does not have sufficient manufacturing capability and has high import dependency, the first source said.

($1 = 95.6800 Indian rupees)

(Reporting by Nikunj Ohri and Sarita Chaganti Singh; Editing by Lincoln Feast.)

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BEML appointed Promila Kundara, Shankar Lal Agrawal and Karunakaran Nambiar K as independent directors on its board after the President of India issued the appointments on 18 August 2026. The company said it would provide their DINs and other required details to the exchanges after receiving them from the appointees. BEML had been without independent directors since December 2024, while its Q1 FY27 results were approved without an Audit Committee review. The defence and rail-and-mining equipment maker reported FY26 revenue of ₹4,351 crore and an order book of ₹16,285 crore at 30 June.

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BEML secured a ₹184.25 crore order from Hindustan Aeronautics Limited to manufacture and supply fuselage aerostructures for Light Combat Helicopters. The company said the award was received in the normal course of business. Defence contributed about ₹1,500 crore to BEML's FY26 revenue, compared with roughly ₹1,000 crore a year earlier. Its order book stood at ₹16,285 crore on June 30, including ₹5,312 crore executable in FY27.

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

• BEML - SECURED SIGNIFICANT ORDER WORTH 1.84 BILLION RUPEES FROM HINDUSTAN AERONAUTICS

• BEML - ORDER FOR SUPPLY OF LIGHT COMBAT HELICOPTER FUSELAGE AEROSTRUCTURES

Source text: ID:nnAZN4TDALL

Further company coverage: BEML.NS

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May 29 (Reuters) - BEML Ltd BEML.NS:

• BEML - DECLARES 2ND INTERIM DIVIDEND OF 2.30 RUPEES AND FINAL DIVIDEND OF 0.55 RUPEE PER SHARE

• BEML MARCH-QUARTER CONSOL PROFIT 1.8 BILLION RUPEES

• BEML MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 17.94 BILLION RUPEES

Source text: ID:nNSE9JtZLf

Further company coverage: BEML.NS

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May 27 (Reuters) -

• INDIA SEEKS PROPOSALS FOR FIFTH GEN COMBAT AIRCRAFT FROM LT-BHARAT ELECTRONICS, TATA ADVANCED SYSTEMS, BHARAT FORGE-BEML - ANI CITING DEFENCE OFFICIALS

Source text: [ID:]

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May 8 (Reuters) - BEML Ltd BEML.NS:

• BEML LTD- EXTENDED ADDITIONAL CHARGE OF SHANTANU ROY AS CHAIRMAN MD ON BOARD OF BEML LAND ASSETS LIMITED (BLAL) FOR A PERIOD OF ONE YEAR

Source text: [ID:]

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** Shares of BEML BEML.NS rise as much as 8% to 1,910 rupees, its highest since Jan. 5, last up 5.4%

** Construction vehicles maker bags order worth 5.9 billion rupees ($62.96 million) from the Ministry of Defence for supply of Trawl Assemblies

** BEML almost flat YTD

($1 = 93.7075 Indian rupees)

(Reporting by Brijesh Patel in Bengaluru)

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

• GOT ORDER WORTH 5.9 BILLION RUPEES

Source text: [ID:]

Further company coverage: BEML.NS

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April 13 (Reuters) - BEML Ltd BEML.NS:

• BEML LTD - SECURES USD 36.38 MILLION EXPORT ORDER FROM MIDDLE EAST

Source text: ID:nNSE7SlTXx

Further company coverage: BEML.NS

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April 9 (Reuters) - BEML Ltd BEML.NS:

• BEML LTD - CO AND DELHI METRO RAIL CORPORATION TO JOINTLY BID FOR RAIL AND METRO PROJECTS

Source text: ID:nNSEbtsLGG

Further company coverage: BEML.NS

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March 18 (Reuters) - BEML Ltd BEML.NS:

• BEML LTD - GETS ORDER WORTH USD 60 MILLION

Source text: ID:nnAZN4SLVGV

Further company coverage: BEML.NS

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** Shares of BEML BEML.NS fall as much as 10% to 1570 rupees, hitting its lowest since May 12, 2025

** Railways and defence engineering firm posts consol loss of 223.8 million rupees ($2.5 million) for Q3, comapred to profit of 244.1 million rupees a year earlier

** A 31% jump in expenses more than offset a 24% rise in revenue

** More than 1.7 mln shares change hands, 6x its 30-day avg

** Stock last down 6.6%, taking YTD losses to 12%

($1 = 90.6500 Indian rupees)

(Reporting by Nishit Navin in Bengaluru)

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Dec 16 (Reuters) - BEML Ltd BEML.NS:

• SECURES 1.10 BILLION RUPEES ORDER FROM MINISTRY OF DEFENCE

Source text: ID:nBSE4J0JJW

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Dec 5 (Reuters) - BEML Ltd BEML.NS:

• BEML LTD - SIGNS MOU WITH HD KOREA AND HYUNDAI SAMHO FOR MARITIME CRANES

Source text: ID:nNSE94XF7T

Further company coverage: BEML.NS

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

• SECURES ORDER VALUED AT 1.57 BILLION RUPEES

Source text: ID:nBSE47pPqB

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Nov 14 (Reuters) - BEML BEML.NS:

• ENTERS MOU WITH APMB, DMRC, AND UTIPL

• MOU FOR REAL TIME AUTOMATIC CARGO EVACUATION SYSTEM

Source text: ID:nBSE93wrsk

Further company coverage: BEML.NS

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Oct 16 (Reuters) - BEML Ltd BEML.NS:

• BEML LTD - CO, KINECO SIGN MOU FOR AEROSPACE AND DEFENCE COLLABORATION

Source text: ID:nNSE5dxpcC

Further company coverage: BEML.NS

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

• BEML LTD - GETS ORDER WORTH 18.88 BILLION RUPEES

Source text: [ID:]

Further company coverage: BEML.NS

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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

Further company coverage: BEML.NS

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

• BEML LTD - BAGGED ORDER WORTH 2.94 BILLION RUPEES

Source text: [ID:]

Further company coverage: BEML.NS

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

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

Source text: [ID:]

Further company coverage: BEML.NS

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

• BOARD TO DISCUSS EQUITY SHARE SPLIT

Source text: ID:nBSE6pvmDF

Further company coverage: BEML.NS

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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:]

Further company coverage: BEML.NS

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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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