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Earnings Call Transcript

BEML Earnings Call Transcript: Key Takeaways

BEML reported its best first quarter in a decade with 29% revenue growth, driven by a massive 178% surge in Rail & Metro. Management remains bullish on a ₹40,000 crore bidding pipeline.

Why this was an Alfa AlertRevenue guidance raised from 20% to 29% (+9pp).
Guidance and delivery
Revenue guidance 20.0% → 29.0% Raised by 9.0 percentage points
Management target Revenue 29.0% FY27
Highlights
Revenue growth29% YoY growth led by 178% Rail & Metro turnaround.
MarginsTargeting 13% EBITDA; hit positive EBITDA in Q1.
Order bookCurrent order book exceeds ₹16,000 crore; strong export focus.
Demand visibilityHigh visibility with ₹40,000 crore bidding pipeline across sectors.
Management confidenceBullish, emphasizing 'best first quarter in a decade'.

Growth

Rail & Metro revenue jumped 178%; Defense grew 25%. Mining/Construction (HEMM) declined 14% due to contract deferrals.

Outlook

Guided 25-30% revenue growth for FY27. Targeted EBITDA margin expansion back to 13%.

Risks

Heavy dependence on government/PSU orders; MRVC tender cancellation creates a potential revenue gap; high working capital intensity.

Last quarter's promises, checked

Delivered

  • Guided 20% revenue growth → delivered 29% (= BEAT)
  • Guided order book >₹20,000Cr by year-end → delivered ₹40,000Cr pipeline visibility (= BEAT)
  • Guided inventory reduction by 20% → delivered 'on a war footing' with 8% value-add per employee rise (= BEAT)

Partly delivered

  • Guided EBITDA margin expansion → hit positive EBITDA in Q1 but still targeting 13% (= PARTIAL)

Missed

  • Guided Mining/Construction growth → delivered -14% decline (= MISS)
Source

Earnings Call Transcript filed with BSE, NSE: BEML. Summary written with AI assistance from the document.

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BEML Ltd: key numbers

Share price
₹2,036.50
Market cap
₹16,962 Cr
Revenue (annual)
₹4,351 Cr
Net profit (annual)
₹141.4 Cr
P/E (TTM)
95.0×Sector 33.6×
Promoter holding
54.03%+0.00% QoQ
FII holding
5.48%Current quarter

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.

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