BEML Ltd - Stock Valuation and Financial Performance

BSE: 500048 | NSE: BEML | Construction Vehicles | Small Cap

BEML Share Price

2,783.55 -89.45 -3.11%
as on 19-Mar'24 15:40

DeciZen - make an informed investing decision on BEML

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

BEML stock performance -

mw4me loader
P/E Ratio (SA):
64.99
Market Cap:
11,964.5 Cr.
52-wk low:
1,180.6
52-wk high:
4,139.4

Is BEML Ltd an attractive stock to invest in?

1. Is BEML Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that BEML Ltd is a average quality company.

2. Is BEML Ltd undervalued or overvalued?

The key valuation ratios of BEML Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is BEML Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of BEML Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of BEML:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
BEML Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 3%2.2%3.9%4.4%6.2%4.3%3.6%4%6.2%6.3%-
Value Creation
Index
-0.8-0.8-0.7-0.7-0.5-0.7-0.7-0.7-0.5-0.5-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 2,9122,8092,9812,4993,2463,4813,0293,5974,3373,8993,929
Sales YoY Gr.--3.5%6.1%-16.2%29.9%7.3%-13%18.8%20.6%-10.1%-
Adj EPS 1.52.516.218.930.215.814.418.5333544.2
YoY Gr.-63.6%543.3%16.3%60%-47.6%-8.6%27.9%78.7%5.9%-
BVPS (₹) 499.4498.7511.2523.8528.3525.2542534.1553.9575.1573.9
Adj Net
Profit
6.410.567.578.512665.860.276.9137146184
Cash Flow from Ops. 394548802081282571041,76949.2568-
Debt/CF from Ops. 2.41.27.12.13.51.63.30.416.70.7-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 3.3%3.7%8.8%-10.1%
Adj EPS 41.5%3%34.3%5.9%
BVPS1.6%1.7%2%3.8%
Share Price 26.1% 22.9% 27.5% 128.7%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
0.30.53.23.65.732.73.46.16.27.7
Op. Profit
Mgn %
3.62.95.16.17.96.22.15.47.99.79
Net Profit
Mgn %
0.20.42.33.13.91.922.13.23.74.7
Debt to
Equity
0.50.30.30.20.20.20.20.30.40.2-
Working Cap
Days
487466401480432426506465415431171
Cash Conv.
Cycle
31929725633430927932329526227199

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 7.70%

Net Profit is growing at healthy rate in last 3 years 34.26%

Sales growth has been subdued in last 3 years 8.78%

Sales growth is not so good in last 4 quarters at -4.12%

Latest Financials - BEML Ltd.

Standalone Consolidated
TTM EPS (₹) 44.2 43.9
TTM Sales (₹ Cr.) 3,929 3,929
BVPS (₹.) 573.9 580
Reserves (₹ Cr.) 2,348 2,374
P/BV 5.01 4.95
PE 64.99 65.50
From the Market
52 Week Low / High (₹) 1180.55 / 4139.40
All Time Low / High (₹) 12.30 / 4139.40
Market Cap (₹ Cr.) 11,964
Equity (₹ Cr.) 41.6
Face Value (₹) 10
Industry PE 46.3

Management X-Ray of BEML:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales2,9122,8092,9812,4993,2463,4813,0293,5974,3373,899
Operating Expenses 2,8102,7352,8332,3472,9883,2682,9663,4063,9993,523
Manufacturing Costs168154158150194199208196252223
Material Costs1,7041,5711,7011,2261,7441,9851,5992,0392,4202,137
Employee Cost 717769755781808802844849858840
Other Costs 221240220190242282315322470324
Operating Profit 1027514815225821363191339376
Operating Profit Margin (%) 3.5%2.7%5.0%6.1%7.9%6.1%2.1%5.3%7.8%9.6%
Other Income 7160426225547920724
Interest 127765654546747487457
Depreciation 54525662647071716664
Exceptional Items 16000000000
Profit Before Tax 9778981641312493206279
Tax 4014143467-441871120
Profit After Tax 576484129636875135159
PAT Margin (%) 0.2%0.2%2.1%3.4%4.0%1.8%2.3%2.1%3.1%4.1%
Adjusted EPS (₹)1.11.615.320.331.115.216.418.032.338.1
Dividend Payout Ratio (%)89%62%26%39%26%46%37%33%31%26%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 2,0802,0772,1292,1822,2002,1872,2572,2242,3072,395
Share Capital 42424242424242424242
Reserves 2,0382,0352,0872,1402,1582,1452,2152,1832,2652,353
Minority Interest0000000000
Debt905592516423439400238642723371
Long Term Debt46541436331130430320110000
Short Term Debt4391781541131359836542723371
Trade Payables386543411497535762659741561678
Others Liabilities 1,2911,2771,2041,4811,3951,5331,7031,9661,9151,431
Total Liabilities 4,6614,4904,2604,5834,5694,8834,8565,5735,5054,875

Fixed Assets

Gross Block1,2011,226598683756859920969988989
Accumulated Depreciation70275853112173239309377436488
Net Fixed Assets499469544571583620611591551501
CWIP 17319210479682515141423
Investments 4333333333
Inventories2,1521,9211,6961,9741,8001,7022,0031,9712,0732,061
Trade Receivables9779921,2071,4301,6511,6131,5081,8851,8611,237
Cash Equivalents 1614566142312852839
Others Assets8407686405114638896891,1059741,012
Total Assets 4,6614,4904,2604,5834,5694,8834,8565,5735,5054,875

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 394548802081282571041,76949568
PBT 9778981641312493206279
Adjustment 16014513911620086-385216384
Changes in Working Capital 252384-122-88-22065451636-285296
Tax Paid -2613-1582-16-2573-11-35-91
Cash Flow From Investing Activity -28-36-33-59-62-61-50-42-29-42
Capex -53-46-40-64-65-64-52-50-25-9
Net Investments 00000000-2-28
Others 259753228-1-5
Cash Flow From Financing Activity -427-384-104-160-100-1293-2,256-10-312
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -29-51-51-910-6-1-100
Interest Paid -109-66-48-49-48-59-41-43-53-50
Dividend Paid -10-4-4-17-33-52-21-35-35-32
Others -279-262-1-3-19-1166-2,17878-230
Net Cash Flow -61128-57-11-346758-52911214
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)0.220.333.033.925.912.893.083.345.946.75
ROCE (%)4.252.874.955.758.297.562.745.059.1611.38
Asset Turnover Ratio0.640.660.750.640.720.740.620.690.780.75
PAT to CFO Conversion(x)78.878.291.252.480.994.081.5323.590.363.57
Working Capital Days
Receivable Days108120122170170171188172158145
Inventory Days270248201236208184223202170194
Payable Days9410810213510811916212598106

BEML Ltd Stock News

BEML Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of BEML on 19-Mar-2024 15:40 is ₹2,783.6.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 19-Mar-2024 15:40 the market cap of BEML stood at ₹11,964.5.
The latest P/E ratio of BEML as of 19-Mar-2024 15:40 is 64.99.
The latest P/B ratio of BEML as of 19-Mar-2024 15:40 is 5.01.
The 52-week high of BEML is ₹4,139.4 and the 52-week low is ₹1,180.6.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of BEML is ₹3,929 ( Cr.) .

About BEML Ltd

BEML Limited (formerly Bharat Earth Movers Limited) was established in May 1964 as a Public Sector Undertaking for manufacture of Rail Coaches & Spare Parts and Mining Equipment at its Bangalore Complex. The Company has partially disinvested and presently Government of India owns 54 percent of total equity and rest 46 percent is held by Public, Financial Institutions, Foreign Institutional Investors, Banks and Employees. BEML Limited, a ‘Schedule-A’ Company, plays a pivotal role and serves India’s core sectors like Defence, Rail, Power, Mining and Infrastructure.

Business area of the company

The Company operates under three major Business verticals viz., Mining & Construction, Defence and Rail & Metro. The three verticals are serviced by nine manufacturing units located at Bangalore, Kolar Gold Fields (KGF), Mysore, Palakkad and Subsidiary - Vignyan Industries Ltd, in Chikmagalur District. Each Business vertical is headed by a Director who reports to the Chairman & Managing Director of the company.

Products manufactured under three Business Verticals

DEFENCE & AEROSPACE

  • Tatra based High Mobility Trucks
  • Recovery Vehicles
  • Bridge Systems
  • Vehicles for Missile Projects
  • Tank Transportation Trailers
  • Milrail Wagons
  • Mine Ploughs
  • Crash Fire Tenders
  • Snow Cutters
  • Aircraft Towing tractors
  • Aircraft Weapon Loading Trolley

MINING & CONSTRUCTION

  • Bull Dozers
  • Excavators
  • Loaders
  • Pipe Layers
  • Wheeled Dozers
  • Tyre Handlers
  • Shovels
  • Dumpers
  • Water Sprinklers
  • Motor Graders
  • Under Mining Equipment

RAIL & METRO

  • Integral Rail Coaches
  • Metro Cars
  • AC EMUs
  • OHE Cars
  • Steel and Aluminium Wagons
  • Track Laying Equipment
  • Utility Vehicles
  • Treasury Vans
  • Spoil Disposal Units
  • Broad gauge Rail bus

Awards and recognition

2016-17

  • Company was bestowed with Rajbhasha Award in Big PSU category for Corporate Office by the Town Official Language Implementation Committee for PSUs for commendable performance in implementation of Hindi during 2015-16.
  • Company received two awards- (i) Excellence in Training, Learning and Development Programmes, and (ii) Outstanding Contribution in CSR. These awards were presented in recognition of Talent Management,
    Talent Development and Talent Innovation, instituted by Employer Branding Institute, Mumbai.
  • Company won the prestigious QCI - DL Shah National Quality Award-2016 at the 11th National Quality Conclave held at New Delhi for metro quality assurance with a case study on ‘Optimization of painting process parameters’ for metro car interior panels.
  • Company was awarded the prestigious ‘International Gold Award’ for its Quality initiatives in the manufacture of Metro Cars at the International Convention of Quality Circle Competition held at Bangkok.
  • Company was bestowed with the prestigious award ‘Buildcon India’s Top Challenger 2015-16’ instituted by ASAPP Info Global Group during the 14th Construction World Annual Awards-2016 at Mumbai.
  • Company was bestowed with Rajbhasha Award in Small PSU category for RO-Sambalpur by the Town Official Language Implementation Committee for PSUs for commendable performance in implementation of Hindi during 2015-16.
  • Company had won prestigious ‘Star Performer Award’ in the Export category for the year 2014-15.
  • Company had bagged various awards for best maintenance of gardens at Complexes, Headquarters and Township Parks in the garden competitions held during Republic Day Horticultural Show-2017.
  • Company bestowed with Hindustan PSU Award under the category ‘Fastest Growing Organisation - Miniratna.’
  • Company bestowed with Equipment India Awards under two categories viz., Best Seller in Rigid Dump Trucks and Best seller in Crawler Dozers for the year 2017.
  • Company bestowed with Raksha Mantri award in the category “Design Effort: Own initiative projects” for the design and development of 180T Class Electric Hydraulic Excavator BE1800E.

2017-18

  • Company has bagged many prizes during the Independence Day Horticulture Show 2017 conducted by Mysore Horticultural Society, Bengaluru, which is a matter of pride to the Company.
  • “Metro Team” of the company won the prestigious QCI - DL Shah National Quality Award -2017. The team made a presentation on ‘Metro Quality Assurance’ with a case study on “Ensuing Zero Defect in Metro Coach Bogie Manufacturing by Business Process Reengineering” based on six sigma using Taguchi
    Method.
  • Company received Certificate of Yellow Dot Award for 50 plus years of invaluable contribution in the field of infrastructure and construction sector to build strong Nation.
  • Company has bagged the SKOCH ORDER-OF-MERIT Award for qualifying amongst “Top 80 Technology Projects in India” for Design and Development of “180T Electric Excavator BE1800E”.
  • Company bagged best seller award for Crawler Dozers at the “5th Annual Equipment India Awards 2018” held in New Delhi.
  • The Company has bagged “Top Public Sector Exporter in Southern Region (GOLD)” award for the year 2015-16 organized by Federation of Indian Export Organisations (FIEO), under Ministry of Commerce. The award was presented to BEML after considering various parameters including export turnover, presence in emerging markets, product diversification and growth.
  • Company has bagged many prizes under Industrial category at the Republic Day Horticultural Flower Show, which is a matter of pride to the Company.

2018-19

  • Bagged 'PSE Excellence Award 2017' from Indian Chamber of Commerce (ICC) for outstanding contribution in steering the Company to greater heights.
  • Metro Team won “International Quality Gold Award - 2018” for case study on 'Minimizing Weld distortion in Metro Bogie Frame Manufacturing'.
  • Received 'Top Challengers Award 2018' for excellent performance during FY 2017-18 and “Best Mining Equipment Seller Award” in Crawler Equipment - Dozers and Rigid Dump Truck segment for mining sectors.
  • Bagged “CII Design Excellence Award 2018” for 'Design and Development of BD65 Torque Converter'.
  • Received 'Governance Now' 6th PSU Award under Resilient Growth (Miniratna-1) category for its achievement and commitment to raise the standard in the public sectors.

2019-20

  • Received “SKOCH Award” under 'Corporate Excellence Gold Category' and “SKOCH Order of Merit” Award for design & development of Armoured Repair & Recovery Vehicle and Metro Cars for KMRCL.
  • Bestowed with Equipment India Awards under two categories, best seller in rigid Dump Truck and best seller in Crawler Dozer for the year 2018 at a function held at New Delhi.
  • BEML Palakkad Complex has won the 'Kerala State Energy Conservation Award 2019' at a function held at, Thiruvananthapuram.
  • Bagged Governance Now 6th PSU Award for its achievement and commitment to Raise the Standard in the Public Sectors.
  • Honoured with 'Research & Innovation and Digital PSU Award' by 'Governance Now' for outstanding contribution.
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