Shares of BEML Ltd rose over 12 percent on May 13 as the company reported 62.9 per cent year-on-year growth in consolidated net profit at Rs 256.8 crore for the quarter ended March 2024, led by healthy operating numbers. Its revenue from operations grew by 9 percent YoY to Rs 1,513.7 crore.
The company's EBITDA surged 29.2 percent to Rs 370.4 crore, with an improvement in margins to 24.5 percent from 20.7 percent on YoY basis.
BEML is a public sector undertaking under the Ministry of Defence, which serves sectors like defence, power and infrastructure. The company manufactures a variety of heavy equipment, such as those used for earth moving, railways, transport, and mining.
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For the full year (FY24), BEML's net profit rose 78.46 percent YoY to Rs 281.77 crore as against Rs 157.89 crore during the previous fiscal ended March 2023. The PSU firm's sales rose 3.98 percent year-on-year to to Rs 4,054.32 crore as against Rs 3,898.95 crore in the year-ago period.
The company's board also recommended final dividend of Rs 15.5 per equity share. At 9:23 am, BEML shares were trading 1.5 percent higher at Rs 3,258.45 apiece on the National Stock Exchange (NSE).
The stock has climbed around 48 percent in the last six months. So far this year, BEML share price has jumped over 14 percent, outpacing benchmark Nifty 50, which has risen around 1.5 percent during this period.
In the last one year, BEML shares have delivered multi-bagger returns of 155 percent, more than doubling investors' money.
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