Defence sector public sector undertaking BEML Ltd shares today slipped 3.04% on Bombay Stock Exchange (BSE) after the company declared lukewarm financial results. Last trading price of BEML shares on BSE stood at Rs 3281.80 per share. The company has a market cap of Rs13,666.89 crore and return on equity is 10.31%. The scrip fell 20.36% year-to-date. Meanwhile, Board of the defence firm today approved an interim dividend of Rs 5/- per equity share of the face value of Rs 10/- each for the financial year 2024-25. Check more details below:
BEML Ltd Approves Interim Dividend
The exchange filing of the company said, “we wish to inform that the Board of Directors of the Company in its 408th meeting held on 06.02.2025, inter-alia, has declared interim dividend of Rs. 5/- per equity share of Rs.10/- each (i.e. 50% of paid up share capital) for the financial year 2024-25.”
BEML Ltd Sets Record Date For Interim Dividend
The exchange filing added, “In this connection, the Company had fixed the Record date as 14.02.2025 for payment of said interim dividend to the eligible equity shareholders as on the record date.”
BEML Shares Performance
The 52-week high price of BEML shares on BSE stood at Rs 5489.15 per share (as on 05/07/2024) and 52-week low price is Rs 2675.15 per share (as on 13/03/2024), respectively. BEML shares slipped 15.79% in last 6-months, fell 9.00% in last 1-year, and gained 140.57% in last 2-years. In last 5-years, the defence PSU surged 301.92%.
BEML Shares Decline 40.21% From Peak
The defence stock witnessed steep fall of 40.21% from its 52-week price of Rs 5489.15 per share if the last trading price of Rs 3281.80 is taken in to perspective.
Should You Buy BEML Shares As Q3 Net Profit Declines?
According to A R Ramachandran, SEBI registered Independent research analyst, “BEML is bearish on the Daily charts with strong resistance at 3558. A Daily close below support of 3270 could lead to a target of 3024 in the near term.”
BEML Q3 Results
The defence firm announced a decline of 49.4% in its consolidated net profit to Rs 24.41 crore for Q3FY25 as compared to Rs 48.20 crore declared in the corresponding quarter of last year. The company’s revenue from operations slipped as well by 16.4% YoY to Rs 875.77 crore for the quarter ended December 31, 2024. Total expense fell 16.1% YoY to Rs 850.70 crore for Q3FY25. The profit before tax recorded at Rs 29.58 crore for the quarter under consideration, indicating a dip of 55.8% as compared to Rs 66.85 crore announced in the similar quarter of last year.
About BEML Limited
It was previously known as Bharat Earth Movers Limited. It came into existence in May 1964 as a Public Sector Undertaking for manufacture of Rail Coaches & Spare Parts and Mining Equipment at its Bangalore Complex. It is a listed on BSE & NSE with Government of India owning 54.03% and rest 44.97% is held by Financial Institutions, Foreign Institutional Investors, Banks, Public and Employees. BEML Limited, a ‘Schedule ‘A’ Company under Ministry of Defence, Govt. Of India, plays a pivotal role and serves India’s core sectors like Defence, Rail, Power, Mining and Infrastructure, according to its official website.
Disclaimer
The stock has been picked from the brokerage report of A R Ramachandran. Moneydaily.in, the author, and the respective brokerage house will not be held accountable for any losses caused as a result of decisions based on the article. Moneydaily.in advises readers to do their own research or consult a SEBI registered investment advisor before making any investment decisions.
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