Fundamental Analysis of BEML Ltd

About the Company - BEML Ltd

BEML Ltd. is a Public Limited Listed company incorporated on 11/05/1964 and has its registered office in the State of Karnataka, India. Company’s Corporate Identification Number(CIN) is L35202KA1964GOI001530 and registration number is 001530. Currently Company is involved in the business activities of Manufacture of railway or tramway rolling stock, not self-propelled (passenger coaches, goods vans tank wagons, self-discharging vans and wagons, workshop vans, crane vans, tenders etc.. Company’s Total Operating Revenue is Rs. 4337.49 Cr. and Equity Capital is Rs. 41.77 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Auto - Construction Vehicles	BEML SOUDHA, Bengaluru Karnataka 560027	cs@beml.co.in https://www.bemlindia.in

Management
Name	Position Held
Mr. Shantanu Roy	Chairman & Managing Director
Mr. Ajit Kumar Srivastav	Director
Mr. Anil Jerath	Director - Finance
Mr. Arun Daga	Independent Director
Mr. Vikas Kakatkar	Independent Director
Mr. Siva Makutam	Independent Director
Mr. Bipin Kumar Gupta	Independent Director
Mr. Surendra Prasad Yadav	Government Nominee Director

Basic Stock Data of BEML Ltd

Last Updated: July 6, 2024, 12:21 pm

Market Cap	21,070 Cr.
Current Price	5,060
High / Low	5,489/1,543
Stock P/E	74.8
Book Value	641
Dividend Yield	0.20 %
ROCE	15.2 %
ROE	11.1 %
Face Value	10.0
PEG Ratio	2.90

BEML Ltd Quarterly Results

Month	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Sales	728	1,806	451	1,000	1,174	1,684	669	805	1,037	1,388	577	917	1,047
Expenses	685	1,599	533	974	1,059	1,454	725	763	948	1,101	627	858	991
Operating Profit	43	207	-82	27	116	230	-56	42	89	287	-51	59	56
OPM %	6%	11%	-18%	3%	10%	14%	-8%	5%	9%	21%	-9%	6%	5%
Other Income	10	0	19	13	-0	1	1	1	5	19	1	10	34
Interest	8	12	14	13	20	10	11	11	12	12	10	11	8
Depreciation	17	19	17	17	17	16	16	16	16	16	16	16	16
Profit before tax	28	176	-94	11	79	205	-82	16	66	278	-75	42	67
Tax %	1%	10%	0%	0%	0%	35%	0%	0%	0%	43%	0%	-23%	28%
Net Profit	28	158	-94	11	79	133	-82	16	66	158	-75	52	48
EPS in Rs	6.65	37.94	-22.60	2.56	18.87	32.07	-19.80	3.91	15.94	37.91	-18.03	12.45	11.59

Last Updated: June 7, 2024, 8:07 am

BEML Ltd Quarterly Chart

BEML Ltd Profit & Loss

Month	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Sales	2,715	2,801	2,904	2,802	2,975	2,494	3,239	3,474	3,025	3,597	4,337	3,899	3,919
Expenses	2,598	2,829	2,773	2,728	2,825	2,341	2,986	3,237	2,942	3,419	4,012	3,530	3,529
Operating Profit	117	-28	131	74	149	153	253	238	84	178	325	369	389
OPM %	4%	-1%	5%	3%	5%	6%	8%	7%	3%	5%	8%	9%	10%
Other Income	105	116	60	60	42	63	25	23	49	20	6	22	30
Interest	111	162	127	76	56	55	48	60	41	39	65	49	45
Depreciation	45	51	54	53	57	63	65	71	72	71	66	64	63
Profit before tax	66	-125	10	5	79	98	164	130	19	87	200	278	311
Tax %	14%	34%	39%	-9%	18%	14%	21%	52%	-229%	21%	36%	43%
Net Profit	57	-83	6	6	64	85	130	63	64	69	129	158	201
EPS in Rs	13.68	-20.02	1.47	1.43	15.48	20.38	31.17	15.19	15.35	16.56	30.96	37.96	48.27
Dividend Payout %	37%	-13%	68%	70%	26%	39%	26%	46%	39%	36%	32%	26%

BEML Ltd Profit & Loss Yearly Chart

BEML Ltd Growth

Compounded Sales Growth
10 Years:	3%
5 Years:	3%
3 Years:	4%
TTM:	4%

Compounded Profit Growth
10 Years:	43%
5 Years:	35%
3 Years:	60%
TTM:	87%

Stock Price CAGR
10 Years:	22%
5 Years:	48%
3 Years:	62%
1 Year:	200%

Return on Equity
10 Years:	5%
5 Years:	6%
3 Years:	8%
Last Year:	11%

Last Updated: June 17, 2024, 3:09 pm

BEML Ltd Balance Sheet

Month	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	42	42	42	42	42	42	42	42	42	42	42	42	42
Reserves	2,134	2,038	2,039	2,035	2,088	2,141	2,159	2,146	2,211	2,173	2,315	2,380	2,325
Borrowings	962	1,263	958	645	569	438	446	404	341	752	832	381	391
Other Liabilities	1,819	1,879	1,790	1,921	1,722	2,137	2,097	2,495	2,570	2,877	2,624	2,304	2,143
Total Liabilities	4,957	5,222	4,828	4,643	4,420	4,757	4,744	5,086	5,163	5,843	5,813	5,107	4,901
Fixed Assets	540	546	513	482	557	583	595	631	621	601	621	548	507
CWIP	24	142	173	192	104	79	68	25	15	14	14	23	27
Investments	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Assets	4,393	4,534	4,142	3,969	3,759	4,094	4,081	4,430	4,527	5,228	5,178	4,536	4,367
Total Assets	4,957	5,222	4,828	4,643	4,420	4,757	4,744	5,086	5,163	5,843	5,813	5,107	4,901

BEML Ltd Reserves and Borrowings Chart

BEML Ltd Cash Flow

Month	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Cash from Operating Activity	245	-136	394	548	80	209	130	257	106	-301	51	563
Cash from Investing Activity	-105	-132	-28	-36	-33	-59	-62	-62	-51	-49	-25	-20
Cash from Financing Activity	6	152	-427	-384	-105	-160	-101	-129	3	-177	-10	-335
Net Cash Flow	146	-116	-61	128	-57	-11	-33	65	57	-527	16	208

BEML Ltd Financial Efficiency Indicators

Month	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Debtor Days	106	112	123	129	148	209	186	170	182	191	157	116
Inventory Days	640	550	478	460	375	615	395	331	482	373	328	369
Days Payable	132	110	84	127	89	152	114	142	152	133	85	116
Cash Conversion Cycle	614	552	517	462	434	673	467	358	512	432	400	369
Working Capital Days	343	352	309	266	265	333	260	242	341	356	312	271
ROCE %	5%	1%	4%	3%	5%	6%	8%	7%	2%	5%	9%	10%

BEML Ltd Financial Efficiency Indicators Chart

BEML Ltd Share Holding Pattern

Month	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoters	54.03%	54.03%	54.03%	54.03%	54.03%	54.03%	54.03%	54.03%	54.03%	54.03%	54.03%	54.03%
FIIs	2.18%	2.80%	4.31%	6.15%	5.91%	5.13%	5.50%	5.44%	6.08%	6.79%	9.12%	9.91%
DIIs	21.65%	21.78%	21.38%	19.08%	18.75%	20.39%	19.87%	19.72%	19.51%	19.03%	18.97%	17.79%
Public	22.15%	21.39%	20.28%	20.75%	21.32%	20.44%	20.59%	20.79%	20.38%	20.16%	17.87%	18.28%
No. of Shareholders	1,03,185	95,280	91,322	88,267	92,714	93,050	93,523	94,767	95,039	1,01,576	99,586	1,21,001

BEML Ltd Shareholding Pattern Chart

No. of BEML Ltd Shareholders

BEML Ltd Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
HDFC Flexi Cap Fund - Regular Plan	1,250,000	0.64	252.59	800,000	2024-07-05	56.25%
HDFC Balanced Advantage Fund - Regular Plan	1,113,681	0.35	225.05	800,000	2024-07-05	39.21%
Kotak Flexicap Fund - Regular Plan	950,000	0.49	191.97	800,000	2024-07-05	18.75%
HDFC Small Cap Fund - Regular Plan	800,000	0.7	161.66	800,000	2024-07-05	0%
Kotak Small Cap Fund - Regular Plan	729,789	1.21	147.47	800,000	2024-07-05	-8.78%
Kotak Equity Opportunities Fund - Regular Plan	300,000	0.4	60.62	800,000	2024-07-05	-62.5%
Aditya Birla Sun Life Small Cap Fund	247,970	1.09	50.11	800,000	2024-07-05	-69%
Quant Tax Plan	217,824	0.89	44.02	800,000	2024-07-05	-72.77%
Quant Absolute Fund	154,000	2.3	31.12	800,000	2024-07-05	-80.75%
Invesco India Smallcap Fund	137,683	0.97	27.82	800,000	2024-07-05	-82.79%

BEML Ltd ROCE Trend

BEML Ltd EPS Trend

BEML Ltd Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	67.66	37.91	30.88	16.50	15.29
Diluted EPS (Rs.)	67.66	37.91	30.88	16.50	15.29
Cash EPS (Rs.)	82.73	53.14	46.69	33.53	32.57
Book Value[Excl.RevalReserv]/Share (Rs.)	638.59	579.59	564.09	530.08	539.31
Book Value[Incl.RevalReserv]/Share (Rs.)	638.59	579.59	564.09	530.08	539.31
Revenue From Operations / Share (Rs.)	970.58	933.38	1038.37	851.44	724.27
PBDIT / Share (Rs.)	115.98	92.89	75.53	47.38	31.71
PBIT / Share (Rs.)	100.70	77.55	59.63	30.29	14.39
PBT / Share (Rs.)	91.36	66.48	47.81	20.85	4.63
Net Profit / Share (Rs.)	67.45	37.80	30.78	16.45	15.24
NP After MI And SOA / Share (Rs.)	67.45	37.80	30.83	16.49	15.28
PBDIT Margin (%)	11.94	9.95	7.27	5.56	4.37
PBIT Margin (%)	10.37	8.30	5.74	3.55	1.98
PBT Margin (%)	9.41	7.12	4.60	2.44	0.64
Net Profit Margin (%)	6.94	4.04	2.96	1.93	2.10
NP After MI And SOA Margin (%)	6.94	4.05	2.96	1.93	2.11
Return on Networth / Equity (%)	10.56	6.52	5.46	3.11	2.83
Return on Capital Employeed (%)	11.82	10.04	6.76	3.47	1.65
Return On Assets (%)	5.17	3.15	2.25	1.20	1.25
Long Term Debt / Equity (X)	0.00	0.00	0.00	0.04	0.08
Total Debt / Equity (X)	0.02	0.15	0.34	0.28	0.10
Asset Turnover Ratio (%)	0.77	0.72	0.76	0.65	0.60
Current Ratio (X)	2.46	2.38	2.38	2.32	2.88
Quick Ratio (X)	1.27	1.23	1.36	1.38	1.49
Inventory Turnover Ratio (X)	0.99	1.02	1.12	1.02	1.02
Dividend Payout Ratio (NP) (%)	0.00	26.37	20.04	50.16	32.61
Dividend Payout Ratio (CP) (%)	0.00	18.75	13.22	24.63	15.28
Earning Retention Ratio (%)	0.00	73.63	79.96	49.84	67.39
Cash Earning Retention Ratio (%)	0.00	81.25	86.78	75.37	84.72
Interest Coverage Ratio (X)	12.42	8.39	6.40	5.02	3.25
Interest Coverage Ratio (Post Tax) (X)	8.22	4.41	3.61	2.74	2.56
Enterprise Value (Cr.)	13349.44	5580.60	8378.89	5880.20	2103.86
EV / Net Operating Revenue (X)	3.29	1.43	1.93	1.65	0.69
EV / EBITDA (X)	27.55	14.38	26.56	29.71	15.88
MarketCap / Net Operating Revenue (X)	3.28	1.35	1.75	1.47	0.62
Retention Ratios (%)	0.00	73.62	79.95	49.83	67.38
Price / BV (X)	4.98	2.17	3.22	2.37	0.83
Price / Net Operating Revenue (X)	3.28	1.35	1.75	1.47	0.62
EarningsYield	0.02	0.03	0.01	0.01	0.03

BEML Ltd Profitability Ratios (%)

BEML Ltd Liquidity Ratios

BEML Ltd Liquidity Ratios (%)

BEML Ltd Interest Coverage Ratios (%)

BEML Ltd Valuation Ratios

Fair Value

Fair Value: 5,332.74

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

Undervalued: 5.39% compared to the current price 5060

Intrinsic Value: 6,706.01

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 32.53% compared to the current price ₹5060

Last 5 Year EPS CAGR: 25.75%

*Investments are subject to market risks

Strength and Weakness of BEML Ltd Stock

Strength	Weakness
The company has higher reserves (2,168.00 cr) compared to borrowings (644.77 cr), indicating strong financial stability. The company has shown consistent growth in sales (2.62 cr) and profit (101.69 cr) over the years.	The stock has a low average ROCE of 5.42%, which may not be favorable. The stock has a high average Working Capital Days of 304.17, which may not be favorable. The stock has a high average Cash Conversion Cycle of 482.50, which may not be favorable.

FAQ

What is the latest fair value of BEML Ltd?

The latest fair value of BEML Ltd is ₹5332.74.

What is the Market Cap of BEML Ltd?

The Market Cap of BEML Ltd is 21,070 Cr..

What is the current Stock Price of BEML Ltd as on 06 July 2024?

The current stock price of BEML Ltd as on 06 July 2024 is 5,060.

What is the High / Low of BEML Ltd stocks in FY 2024?

In FY 2024, the High / Low of BEML Ltd stocks is 5,489/1,543.

What is the Stock P/E of BEML Ltd?

The Stock P/E of BEML Ltd is 74.8.

What is the Book Value of BEML Ltd?

The Book Value of BEML Ltd is 641.

What is the Dividend Yield of BEML Ltd?

The Dividend Yield of BEML Ltd is 0.20 %.

What is the ROCE of BEML Ltd?

The ROCE of BEML Ltd is 15.2 %.

What is the ROE of BEML Ltd?

The ROE of BEML Ltd is 11.1 %.

What is the Face Value of BEML Ltd?

The Face Value of BEML Ltd is 10.0.