BEML Q1 Results Review - Decent Quarter; Order Inflow, Execution In Focus: Prabhudas Lilladher

Prabhudas Lilladher Report

We upgrade the rating to ‘Accumulate’ from ‘Hold’ with a revised target price of Rs 4,484 (Rs 4,520 earlier) following the recent sharp correction in stock price. BEML Ltd. reported decent quarterly performance with 9.9% YoY revenue growth and 85 basis points YoY improvement in Ebitda margin.

Management reiterated FY25 guidance of ~20% revenue growth and Rs 200-300 billion closing order book, with major tenders expected in the rail and metro segment, including tenders pushed back from last year.

The company is expected to complete the order for 10 Vande Bharat sleeper trains in FY25, with the first one set to be ready in Aug-24.

BEML also continues to focus on its indigenous tank engine development program for both domestic and export markets, with a view to make India a hub for engines and power packs.

Click on the attachment to read the full report:

DISCLAIMER

This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.