Rs 8,570 crore order book: This multibagger heavy equipment manufacturer secures multiple orders worth Rs 3,278 crore; stock hits 52 week high!

Shares of the company have gained more than 50 per cent in the last six months.

On August 22, 2023, BEML Limited informed in the exchange filing that the company has received a work order from the Ministry of Defence for the supply of Command Post Vehicles with a contract value of Rs 101 crores. Owing to the positive news, the stock made a fresh 52-week high on Wednesday.

Earlier, on August 07, 2023, the company received another work order worth Rs 3,177 crores. The order was from Bangalore Metro Rail Corporation (BMRC) for the supply of Rolling stock contract 5RS-DM.

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 operating profit of the company stood at a loss of Rs 49.33 crore, while the PAT of the company stood at a loss of Rs 75.01 crore.

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

In the last one year, the shares of the company have given more than 30 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.