BEML Shares Soar 14% As Q4 Profit Surges 63%
Margin expanded 381 basis points to 24.47% in the March quarter.
Shares of BEML Ltd. surged over 14% on Monday after its consolidated net profit jumped 63% in the fourth quarter of financial year 2024.
The public-sector undertaking company posted a profit of Rs 256.8 crore in the quarter ended March. Its order book stands at Rs 11,872 crore as of March 31, according to an exchange filing.
BEML Q4 FY24 Earnings Highlights (Consolidated, YoY)
Revenue up 9.1% to Rs 1,513.7 crore vs Rs 1,387.9 crore.
Ebitda up 29% to Rs 370.4 crore vs Rs 286.8 crore.
Margin expands 381 basis points to 24.47% vs 20.66%.
Net profit up 63% to Rs 256.8 crore vs Rs 157.7 crore.
Board recommends final dividend of Rs 15.5 per share
On the NSE, BEML's stock jumped as much as 14.33% during the day to Rs 3,670 apiece, the highest since May 3. It was trading 12.81% higher at Rs 3,616.95 per share, compared to 0.29% advance in the benchmark Nifty at 2:37 p.m.
The share price has gained 157.12% in the last 12 months and 27.95% on a year-to-date basis. The total traded volume so far in the day stood at 11 times its 30-day average. The relative strength index was at 60.32.
Three out of the five analysts tracking the company have a 'buy' rating on the stock, one recommends 'hold' and another suggests 'sell', according to Bloomberg data. The analyst consensus price target tracked by Bloomberg implies a potential downside of 18.2% from the current market price.
