This heavy equipment manufacturing company delivered 250% returns in 3 years; Do you own it?
The company’s global reach is impressive, with exports to 71 countries and current half-year exports reaching Rs 347 crore. It has been a driving force in core sectors like defence, mining, and metro transportation.
BEML Limited has churned multibagger returns to its shareholders in just three years. During this period, the company’s share price jumped from Rs 797.78 on December 24, 2020, to Rs 2,790.70 on December 22, 2023, an increase of about 250%.
An investment of Rs 1 lakh in the shares of this company three years ago would have turned to Rs 3.50 lakh today.
Financial Performance
In Q2FY24, the company posted 13.91% growth in its consolidated revenue at Rs 916.79 crore compared to Rs 804.86 crore from the previous year’s corresponding quarter. The operating profit of the company stood at Rs 68.68 crore, while the PAT of the company stood at Rs 51.78 crore, from Rs 16.26 crore in last year same quarter.
Business Overview
BEML Limited was established in May 1964 as a public sector undertaking for the manufacture of rail coaches & spare parts and mining equipment at its Bangalore complex. The Government of India owns 54% of total equity and the rest 46% is held by the Public, Financial Institutions, Foreign Institutional Investors, Banks and Employees. BEML Limited, a ‘Schedule-A’ company, serves core sectors like Defence, Rail, Power, Mining and Infrastructure. The company operates under three major Business verticals i.e. Mining & Construction, Defence & Aerospace and Rail & Metro.
The company has delivered over 8,850 military vehicles, 33,100 mining equipment, and 18,000 rail coaches, and export to 71 countries. BEML’s strong order book and commitment to sustainability paint a promising future for this multifaceted leader.
Stock Price Movement
Today, the stock opened at Rs 2,748.30, with a high and low of Rs 2,819.45 and Rs 2,700.80, respectively. The stock closed trading at Rs 2,790.70, which increased by 2.48%. The stock has a 52-week high of Rs 2,819.45 and a 52-week low of Rs 1,129.10.
The stock has shown impressive growth, and investors should keep a close eye on this stock.
Disclaimer: This post has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.