BEML

BEML secured an order valued at over Rs 5,400 crore from National High Speed Rail Corporation for the supply and maintenance of high-speed rolling stock and allied works for the Mumbai-Ahmedabad high-speed rail corridor. The order book stood at Rs 16,285 crore at 1 July 2026, after in-year awards of Rs 557 crore of high-mobility vehicles for the Ministry of Defence, Rs 82 crore of utility track vehicles for Railways and a Rs 550 crore metro rolling-stock export order in Africa. Domestic rolling stock and defence orders have clustered between Rs 80 crore and Rs 600 crore. Revenue from operations was Rs 4,351 crore in FY26, with defence and aerospace at 35%, mining and construction at 41% and rail and metro at 24%. The ADITYA high-speed facility in Bangalore was built between September 2024 and April 2025 for high-speed, LHB and sleeper car output.

Powered by Tijori

** Shares of India's defence companies .NIFTYINDDEFENCE up 2.2%

** Bharat Electronics BAJE.NS, Hindustan Aeronautics HIAE.NS rise 2.4% and 3.5%, respectively

** Paras Defence PRAF.NS, BEML BEML.NS and Data Patterns DATP.NS jump 4.2%-5.5%

** India's defence acquisition council (DAC) clears capital acquisition proposals worth 1.1 trillion rupees ($11.64 billion) for defence forces

** Goldman Sachs says proposals focused on surveillance, counter-measures and deterrence platforms rather than large, traditional and expensive platforms, which will improve participation of private players

** Clearance of advanced light helicopters and proposals to enhance fighter jet capabilities are positive for HIAE, approvals for ground-based jammers positive for BAJE, says JM Financial

** "These approvals strengthen medium-to-long term order visibility for Indian defence manufacturers, with the high domestic sourcing component providing opportunities across platforms, electronics and critical systems," says ICICI Securities

** YTD, defence index up 28.6%

(Reporting by Vivek Kumar M)

(([email protected];))

BEML secured an additional ₹180.60 crore order from Integral Coach Factory to manufacture and supply Vande Bharat sleeper trainsets. The order was described as being in the normal course of business. Rail and Metro accounted for 65% of BEML's ₹16,285 crore order book at June 30, with ₹5,312 crore classified as executable in FY27. Revenue from operations was ₹4,351 crore in FY26, while first-quarter FY27 revenue rose 29% year on year to ₹819.62 crore.

Powered by Tijori

** Shares of heavy machinery and vehicles manufacturer BEML BEML.NS rise 1.2% to 1,994.4 rupees

** Co receives an additional order worth 1.81 billion rupees ($19.06 million) to manufacture and supply trainsets

** BEML trades at forward 12-month PE of 32.06 vs industry median of 35.98 - data compiled by LSEG

** All four brokerages covering the stock rate it "buy" or higher; their median PT is 2,266 rupees

** YTD, stock up 7.1%

($1 = 94.9600 Indian rupees)

(Reporting by Abhinav Parmar in Bengaluru)

(([email protected];))

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.)

(([email protected]; +91 90284 60730; Reuters Messaging: twitter.com/nikunj_ohri))

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.

Powered by Tijori

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.

Powered by Tijori

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

(([email protected];;))

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

(([email protected];))

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:]

(([email protected];))

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:]

Further company coverage: BEML.NS

(([email protected];))

** 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)

(([email protected]; Ph no. +91 9590227221;))

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

• GOT ORDER WORTH 5.9 BILLION RUPEES

Source text: [ID:]

Further company coverage: BEML.NS

(([email protected];))

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

(([email protected];))

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

(([email protected];))

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

• BEML LTD - GETS ORDER WORTH USD 60 MILLION

Source text: ID:nnAZN4SLVGV

Further company coverage: BEML.NS

(([email protected];))

** 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)

(([email protected]))

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

• SECURES 1.10 BILLION RUPEES ORDER FROM MINISTRY OF DEFENCE

Source text: ID:nBSE4J0JJW

Further company coverage: BEML.NS

(([email protected];))

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

(([email protected];))

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

• SECURES ORDER VALUED AT 1.57 BILLION RUPEES

Source text: ID:nBSE47pPqB

Further company coverage: BEML.NS

(([email protected];))

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

(([email protected];))

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

(([email protected];))

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

• BEML LTD - GETS ORDER WORTH 18.88 BILLION RUPEES

Source text: [ID:]

Further company coverage: BEML.NS

(([email protected];;))

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

• GOT CONTRACT VALUED ABOUT 2.82 BILLION RUPEES

Source text: ID:nBSE1tVYSH

Further company coverage: BEML.NS

(([email protected];;))

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

(([email protected];;))

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

• BEML LTD - BAGGED ORDER WORTH 2.94 BILLION RUPEES

Source text: [ID:]

Further company coverage: BEML.NS

(([email protected];;))

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

(([email protected];))

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

• BOARD TO DISCUSS EQUITY SHARE SPLIT

Source text: ID:nBSE6pvmDF

Further company coverage: BEML.NS

(([email protected];;))

** 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)

(([email protected];))

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

• GETS CONTRACT WORTH $6.23 MILLION

Source text: ID:nBSE7HTWjk

Further company coverage: BEML.NS

(([email protected];;))