Rs 8,570 crore order book: This multibagger heavy equipment manufacturer secures orders worth USD 19.71 million; stock hits 52 week high!

Shares of the company have gained more than 80 per cent in the last six months.

BEML Limited informed in the exchange filing that the company has received a contract for an export order from KAMSS Ltd, Russia, for BEML Dozer BD355 valued at 19.71 million USD. The order is to be executed in different phases starting from August 2023. Owing to the positive news, the stock made a fresh 52-week high on Tuesday.

Earlier, the company also received a work order from the Ministry of Defence for the supply of Command Post Vehicles with a contract value of Rs 101 crores.

The company recently reported results for the first quarter ended June 30, 2023 (Q1FY24). The company posted weak Quarterly Results. The revenue of the company stood at Rs 576.91 crore which declined by 13.79 per cent YoY. The company's operating profit stood at a loss of Rs 49.33 crore, while the PAT of the company stood at a loss of Rs 75.01 crore.

BEML Limited manufactures a wide range of heavy earthmoving equipment catering to the mining and construction industry, vehicles for defence forces and coaches for the metro and Indian Railways.

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In the last one year, the shares of the company have given more than 50 per cent returns and in the last three years, the stock gained about 260 per cent returns.

Investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.