Defence PSU BEML Ltd announces Q4 results, Profit soars by 62.5%

Mumbai: BEML Ltd, country’s leading indigenized heavy equipment defence PSU, has announced its financial results for the fourth quarter of FY24, ending March 31, 2024. The company’s net peofit during the period has soared by 62.5% to Rs 257.13 crore compared to Rs 158.22 crore in the previous financial year.

In a statement, BEML said that the revenue has witnessed a significant increase of 9.1% at Rs 1514 crore in the fourth quarter, up from Rs 1388 crore in previous financial year.

The result unveils thagt EBITDA for Q4 has registered a growth of 22.54% at Rs 375.3 crore compared to Rs 306.27 crore in the previous year. Also as year as a whole EBITDA has jumped up by 25% to Rs. 486 Crs compared to Rs. 389 Crs in previous financial year.

The company announced that the Gross margin has improved by 20% to 11.98% in FY 24 compared to 9.99% in FY23, driven by a favorable segment mix of business. The company has declared a dividend of 205% for shareholders for FY 24, underlining its commitment to value creation for investors.

The Defence PSU also stated that it has recently undergone organizational restructuring, creating 11 strategic business units and 2 micro business units. This move aims to enhance focus on revenue generation and achieve targetable revenue in the near future.

Commenting on results, CMD of BEML Shantanu Roy said, “We are delighted to report a strong performance for Q4FY24, with significant growth across key financial parameters. Our relentless focus on innovation, cost optimization, and strategic expansion has enabled us to deliver robust results despite challenging market conditions. As we embark on our journey towards new growth avenues, we remain committed to creating long-term value for all stakeholders.”

(Defence Watch– India’s Defence News centre that places the spotlight on Defence Manufacturing, Defence Technology, Strategy and Military affairs is on Twitter. Follow us here and stay updated.)