Rs 11,818 crore order book: This multibagger defence & railway company signs 2 MoUs; One with India Navy & other with Malaysia's SMH Rail
The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 1,904.50 per share and has been maintaining a healthy dividend payout of 29.7 per cent.
Bharat Earth Movers Limited (BEML Ltd) informed that the company has signed 2 MoUs; One with India Navy & other with Malaysia's SMH Rail: Here are the details: -
MoU 1: In a significant step towards India's self-reliance in defence manufacturing, BEML Ltd., a leading defence and heavy engineering company, has entered a strategic partnership with the Indian Navy. The collaboration aims to develop, manufacture, and support critical marine equipment and systems. The partnership aligns with the Government of India's Aatmanirbhar Bharat initiative, which seeks to reduce dependence on foreign imports.
BEML, with its expertise in heavy engineering, structural fabrication, hydraulics, diesel engines, and manufacturing, is well-positioned to contribute to the Indian Navy's maritime capabilities. The company will leverage its existing strengths to provide cost-effective and reliable solutions. The partnership is expected to enhance indigenous marine engineering capabilities and ensure that the Indian Navy has access to state-of-the-art, domestically produced technology. BEML's recent establishment of a dedicated maritime business unit highlights its commitment to the sector.
MoU 2: In a significant step towards expanding its global footprint, BEML Ltd. has entered a strategic partnership with SMH Rail, Malaysia's largest rolling stock manufacturer. This collaboration aims to address the growing global demand for advanced rail and metro rolling stock. Together, BEML and SMH Rail will focus on marketing, supply, and servicing of rail and metro rolling stock products, with a particular emphasis on markets in Malaysia, Southeast Asia, and Africa.
The partnership will involve joint efforts in marketing, manufacturing, maintenance, repair and overhaul services. Additionally, BEML and SMH Rail will collaborate on the design, engineering, manufacturing, and integration of rolling stock tailored to client-specific requirements. This move is a part of BEML's ongoing efforts to bolster its global presence and cater to the increasing demand for reliable and innovative rail and metro solutions. With its strong track record and expertise, BEML is well-positioned to capitalize on this partnership and drive global growth.
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About the Company
BEML Limited is a leading multi-technology ‘Schedule A’ company under the Ministry of Defence, which plays a pivotal role in serving India’s core sectors like defence, rail, power, mining and construction by offering world-class products. BEML operates in three verticals viz. defence & aerospace, mining & construction and rail & metro and has state-of-the-art manufacturing facilities located at Bangalore, Kolar Gold Fields (KGF), Mysore, Palakkad, with very strong R&D infrastructure and a nationwide network of sales and services. BEML Limited, a committed player in the field of manufacturing earthmoving, transportation, and construction equipment, celebrates a rich legacy spanning six decades of relentless pursuit of excellence and innovation.
The company has a market cap of Rs 16,285 crore and as of June 30, 2024, the company’s order book stands at Rs 11,818 crore. The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 1,904.50 per share and has been maintaining a healthy dividend payout of 29.7 per cent. Investors should keep an eye on this PSU stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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