In an exclusive interview, DIPAM Secretary Tuhin Kanta Pandey says plans for FY21 include IPOs of RailTel, IRFC Ltd and WAPCOS Ltd. and the privatisation of Nilanchal Ispat Nigam Ltd plant in Odisha, and the Salem and Bhadravathi steel plants of SAIL Ltd. Pandey also said the government is trying its best to complete the privatisation of Shipping Corp, Concor Ltd, Bharat Earth Movers Ltd and Central Electronics Ltd before March 31, 2021.
The spread of the pandemic and subsequent lockdown from March last week had impacted BEML''s turnover and production due to the closure of manufacturing facilities, disruption in spares and service business, non-receipt of items on account of supply chain disruptions, restrictive movements and non- availability of required trailers among others, he said.
Strong order book and balance sheet of BEML provide comfort
"Further, 6 train sets are ready for deployment in revenue operation," BEML said.
"The contract cost for seven 150-tonne dumpers is around Rs 150 crore and that of eight 190-tonne dumpers is Rs 250 crore. The equipment will be used in opencast coal mines and play a critical role in hauling coal and the top soil," it said.
The order is for the supply of seven 150-T dumpers and eight 190-T dumpers under trial cum sale along with eight years spare parts contract on April 24, 2020, the company said
The consolidated income of the company during the December quarter fell to Rs 699.15 crore, from Rs 926.05 crore in the year-ago period.
The consolidated income of the company during October-December period dropped to Rs 699.15 crore, from over Rs 926.05 crore in the year-ago period, the filing said.
"The Department of Investment and Public Asset Management (DIPAM)...intimated the company that CBRE South Asia Pvt Ltd and JLL Property Consultants (India) Pvt Ltd have been appointed as consultancy firms for monetisation of identified assets of BEML Ltd," the PSU said in a filing to BSE.
The appointment of consultants is for monetisation of identified assets of BEML.
This MoU is aimed at promoting supply of BEML manufactured rolling stock as well as construction equipment for railway projects outside India wherein IRCON will carry out civil and construction work.
The government currently holds 54.03 percent stake in the diversified engineering company. The Cabinet Committee on Economic Affairs in October, 2016 had given an in-principal approval for strategic disinvestment of 26 percent equity shares in BEML Ltd.
Kalyani Group of Companies are BF Utilities, Bharat Forge, BF Investment and Kalyani Investment Company.
Trends on SGX Nifty indicate a positive opening for the broader index in India, with a gain of 25 points
Consolidated revenue during the quarter declined 6.4 percent year-on-year to Rs 687.1 crore, the company said in its BSE filing.
BEML also noted that it had supplied 150 Metro cars to BMRCL which are running as 3-car train sets.