BEML bags order for metro coaches from DMRC

BEML has received an order from Delhi Metro Rail Corporation Limited (DMRC) for production of additional metro coaches for the MMRDA Mumbai line 2&7. However, the stock was trading 3 per cent lower than its previous close.

The order is for the production of an additional 21 trainsets for the MMRDA Mumbai line 2&7. The approximate value of the order is around Rs. 834 crore. BEML had previously received order for Rs. 3,015 crore from MMRDA for the supply of 378 metro cars which includes 63 metro trainsets having 6 cars each for Mumbai Metro Corridor 2&7. The order includes spares, designing, installation and commissioning of metro cars. Metro train is set operate on 25 kv AC traction and will be equipped with CCTV surveillance to safeguard the passengers. It is made of stainless steel body having four doors on each side and will also be equipped with realtime track monitoring. The metro train cars will hold a capacity of carrying 300 passengers per car.

For Q1FY20, the company posted a revenue of Rs. 581.07 crore which is an increase of 27.7 per cent YoY. The company reported a net loss of Rs. 96.85 crore in Q1FY20 compared to a net loss of Rs. 160.34 crore.

BEML Limited is a miniratna category company under the Ministry of Defence. It is a manufacturer of metro cars, heavy equipment used for earthmoving, transport and mining. The company has manufacturing facilities in Kolar Gold Fields, Bengaluru, Palakkad and Mysore. 

However, the stock of the company on Monday closed at Rs. 811.65 per share, down by 3.16 per cent or Rs. 26.50 per share. The 52-week high is Rs. 1034.35 and 52-week low is Rs. 521.