BEML Ltd pays annual dividend of Rs 22.5 crore to Govt

Bengaluru: BEML Limited, India’s leading Defence PSU company, has paid the final dividend of Rs 22.5 crore to Government of India for the financial year 2022-23. Shantanu Roy, Chairman & Managing Director of BEML Ltd presented the dividend cheque to Raksha Mantri Rajnath Singh at Delhi on December 29, 2023, in the presence of T Natarajan, Additional Secretary (Defence Production) and Shalabh Tyagi, Joint Secretary (P&C).

For the same financial year, the board of BEML had approved a dividend of Rs 10 per share to shareholders. The Govt of India, being the majority shareholder, holds 2.25 crore equity shares in the company. It has registered a profit before tax of Rs 279 crore for the same period, which is up by 35.41% than previous financial year.

Shantanu Roy, CMD of BEML Ltd said, “We felt happy to share our achievement during 2023 and the roadmap for the next year 2024 with our Defence Minister. BEML is strategically planning to implement significant transformations, possibly in terms of operations, products and organizational structure, with the aim of achieving further growth and success.”

BEML Ltd registered a revenue growth of 3.43% in defence business, a rise of 1.78% in mining & construction and 2.64% in spare parts business over its previous financial year respectively. During the said period, the exports rose to Rs 830.14 crore (which includes physical exports of Rs 178.42 crore and deemed export of Rs 651.72 crore) against previous financial year’s Rs 564.74 crore.

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