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Last Updated: April 2, 2026, 2:42 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 500048 | NSE: BEML

BEML Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹1,404.30Fairly Valued by 4.92%vs CMP ₹1,477.00

P/E (49.4) × ROE (10.5%) × BV (₹336.00) × DY (0.72%)

₹680.42Overvalued by 53.93%vs CMP ₹1,477.00
MoS: -117.1% (Negative)Confidence: 63/100 (Moderate)Models: 1 Fair, 8 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹1,602.3423%Fair (+8.5%)
Graham NumberEarnings₹475.4416%Over (-67.8%)
Earnings PowerEarnings₹183.3711%Over (-87.6%)
DCFCash Flow₹504.7314%Over (-65.8%)
Net Asset ValueAssets₹336.357%Over (-77.2%)
EV/EBITDAEnterprise₹751.479%Over (-49.1%)
Earnings YieldEarnings₹299.007%Over (-79.8%)
ROCE CapitalReturns₹120.397%Over (-91.8%)
Revenue MultipleRevenue₹482.975%Over (-67.3%)
Consensus (9 models)₹680.42100%Overvalued
Key Drivers: Wide model spread (₹120–₹1,602) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 14.1%

*Investments are subject to market risks

Investment Snapshot

56
BEML Ltd scores 56/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health76/100 · Strong
ROCE 15.6% GoodROE 10.5% AverageD/E 0.28 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money30/100 · Weak
FII holding down -1.75% (6mo) SellingPromoter holding at 54.0% Stable
Earnings Quality55/100 · Moderate
OPM expanding (9% → 12%) ImprovingWorking capital: 295 days Capital intensive
Quarterly Momentum58/100 · Moderate
Revenue (4Q): -1% YoY FlatProfit (4Q): +3% YoY Positive
Industry Rank30/100 · Weak
P/E 49.4 vs industry 35.9 In-lineROCE 15.6% vs industry 27.0% Below peers3Y sales CAGR: -2% Shrinking

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

BEML Ltd Investor Signals

Computed from valuation, cash flow, balance sheet, ownership and quarterly trend data already available in this stock page.

Value Trap Score
20/100
Low
Derived from: Cheapness + weak quality + weak cash support
Current data: P/E 49.4 vs Ind 35.9 | ROCE 15.6% | ROE 10.5% | CFO/NP N/A
Balance Sheet Stress
20/100
Comfortable
Derived from: Leverage + debt servicing + liquidity + debt trend
Current data: D/E 0.28x | IntCov 0.0x | Current 2.32x | Borrow/Reserve 0.24x
Cash Flow Reliability
14/100
Weak
Derived from: Cash backing of earnings + working capital pressure
Current data: CFO ₹0 Cr | NP ₹293 Cr | CFO/NP N/A
Ownership Accumulation
-75
Distribution
Derived from: FII + DII + promoter direction, adjusted by crowding
Current data: FII -0.31 pp | DII -0.15 pp | Prom 0.00 pp
Business Momentum
+100
Stable
Derived from: Latest quarter sales + profit + OPM change
Current data: Q Sales +32.3% | Q NP +175.0% | Q OPM +17.0 pp
Derived FieldValueHow it is derived
Valuation Gap %-53.9%((Fair Value - CMP) / CMP) × 100
Borrowings / Reserves0.24xLatest borrowings divided by latest reserves
CFO / Net ProfitN/ALatest operating cash flow divided by latest net profit
FII Change-0.31 ppLatest FII% minus previous FII%
DII Change-0.15 ppLatest DII% minus previous DII%
Promoter Change0.00 ppLatest promoter% minus previous promoter%
Shareholder Count Change+5,174Latest shareholder count minus previous count
Quarterly Sales Change+32.3%Latest quarter sales vs previous quarter sales
Quarterly Profit Change+175.0%Latest quarter net profit vs previous quarter net profit
Quarterly OPM Change+17.0 ppLatest quarter OPM minus previous quarter OPM

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:42 am

Market Cap 12,300 Cr.
Current Price 1,477
Intrinsic Value₹680.42
High / Low 2,437/1,226
Stock P/E49.4
Book Value 336
Dividend Yield0.72 %
ROCE15.6 %
ROE10.5 %
Face Value 5.00
PEG Ratio3.50

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for BEML Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
BEML Ltd 12,300 Cr. 1,477 2,437/1,22649.4 3360.72 %15.6 %10.5 % 5.00
Action Construction Equipment Ltd 9,664 Cr. 812 1,390/74522.9 1500.25 %40.1 %28.6 % 2.00
Brady & Morris Engineering Company Ltd 173 Cr. 767 2,018/68535.4 2190.00 %25.4 %23.4 % 10.0
Industry Average7,379.00 Cr1,018.6735.90235.000.32%27.03%20.83%5.67

All Competitor Stocks of BEML Ltd

Quarterly Result

MetricSep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales 8051,0371,3885779171,0471,5146348608761,653634839
Expenses 7639481,1016278589911,1436847878151,230683766
Operating Profit 4289287-515956370-507360422-4973
OPM % 5%9%21%-9%6%5%24%-8%8%7%26%-8%9%
Other Income 15191103451155497
Interest 111212101181191617131010
Depreciation 16161616161617171719192020
Profit before tax 1666278-754267348-755530395-7050
Tax % 0%0%43%0%-23%28%26%-7%7%17%27%-9%5%
Net Profit 1666158-755248257-705124288-6448
EPS in Rs 1.957.9618.93-9.006.225.7930.83-8.466.132.9334.52-7.705.77

Last Updated: February 6, 2026, 1:16 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 23, 2026, 2:16 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 2,9042,8022,9752,4943,2393,4743,0253,5974,3373,8994,0544,0224,209
Expenses 2,7732,7282,8252,3412,9863,2372,9423,4194,0123,5303,6093,5163,759
Operating Profit 1317414915325323884178325369445506450
OPM % 5%3%5%6%8%7%3%5%8%9%11%13%11%
Other Income 6060426325234920622422423
Interest 127765655486041396549425444
Depreciation 54535763657172716664647180
Profit before tax 10579981641301987200278382404349
Tax % 39%-9%18%14%21%52%-229%21%36%43%26%28%
Net Profit 666485130636469129158282293249
EPS in Rs 0.730.717.7310.1815.577.587.678.2715.4618.9633.8335.1229.90
Dividend Payout % 68%70%26%39%26%46%39%36%32%26%30%29%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)0.00%966.67%32.81%52.94%-51.54%1.59%7.81%86.96%22.48%78.48%3.90%
Change in YoY Net Profit Growth (%)0.00%966.67%-933.85%20.13%-104.48%53.13%6.23%79.14%-64.48%56.00%-74.58%

BEML Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:4%
5 Years:6%
3 Years:-2%
TTM:-2%
Compounded Profit Growth
10 Years:48%
5 Years:36%
3 Years:32%
TTM:4%
Stock Price CAGR
10 Years:15%
5 Years:49%
3 Years:39%
1 Year:-4%
Return on Equity
10 Years:6%
5 Years:8%
3 Years:9%
Last Year:11%

Last Updated: September 5, 2025, 12:40 am

Balance Sheet

Last Updated: December 10, 2025, 2:27 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 42424242424242424242424242
Reserves 2,0392,0352,0882,1412,1592,1462,2112,1732,3152,3802,6262,8462,759
Borrowings 95864556943844640434175283238171229666
Other Liabilities 1,7901,9211,7222,1372,0972,4952,5702,8772,6242,3042,8522,9282,469
Total Liabilities 4,8284,6434,4204,7574,7445,0865,1635,8435,8135,1075,5916,0445,935
Fixed Assets 513482557583595631621601621505528580603
CWIP 1731921047968251514142337107171
Investments 0000000000066
Other Assets 4,1423,9693,7594,0944,0814,4304,5275,2285,1784,5795,0265,3515,155
Total Assets 4,8284,6434,4204,7574,7445,0865,1635,8435,8135,1075,5916,0445,935

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 39454880209130257106-30151560458183
Cash from Investing Activity + -28-36-33-59-62-62-51-49-25-20-68-205
Cash from Financing Activity + -427-384-105-160-101-1293-177-10-331-130-139
Net Cash Flow -61128-57-11-336557-52716208260-162
Free Cash Flow 341502531446419254-35130551358-8
CFO/OP 321%722%64%83%58%119%39%-169%26%176%116%60%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-827.00-571.00-420.00-285.00-193.00-166.00-257.00-574.00-507.00-12.00374.00277.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 123129148209186170182191157116130154
Inventory Days 478460375615395331482373328369418462
Days Payable 841278915211414215213385116132129
Cash Conversion Cycle 517462434673467358512432400369416487
Working Capital Days 254243246316245232337291242236261295
ROCE %4%3%5%6%8%7%2%5%9%10%15%16%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
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 5.44%6.08%6.79%9.12%9.91%6.76%5.66%7.41%7.26%5.67%5.82%5.51%
DIIs 19.72%19.51%19.03%18.97%17.79%20.14%18.51%18.10%18.69%18.80%18.54%18.39%
Public 20.79%20.38%20.16%17.87%18.28%19.08%21.79%20.45%20.00%21.51%21.62%22.08%
No. of Shareholders 94,76795,0391,01,57699,5861,21,0011,52,6981,91,6041,85,0051,92,7971,95,1761,93,3041,98,478

Shareholding Pattern Chart

No. of Shareholders

BEML Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
HDFC Defence Fund 2,851,602 6.57 511.83N/AN/AN/A
HDFC Balanced Advantage Fund 2,143,066 0.36 384.661,071,5332025-12-15 00:13:12100%
Kotak Flexicap Fund 1,900,000 0.6 341.03950,0002025-12-15 00:13:12100%
Kotak Small Cap Fund 1,459,578 1.6 261.98729,7892025-12-15 00:13:12100%
Invesco India Focused Fund 770,280 2.84 138.26385,1402025-12-15 00:13:12100%
Invesco India Smallcap Fund 609,984 1.22 109.49304,9922025-12-15 00:13:12100%
Kotak Large & Midcap Fund 600,000 0.36 107.69300,0002025-12-15 00:13:12100%
HDFC Manufacturing Fund 450,000 0.78 80.77N/AN/AN/A
HDFC Small Cap Fund 406,478 0.2 72.96203,2392025-12-15 00:13:12100%
ICICI Prudential Manufacturing Fund 398,049 1.13 71.45470,7422026-02-22 20:13:25-15.44%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 70.2467.6637.9130.8816.50
Diluted EPS (Rs.) 70.2467.6637.9130.8816.50
Cash EPS (Rs.) 87.1182.7353.1446.6933.53
Book Value[Excl.RevalReserv]/Share (Rs.) 691.22638.59579.59564.09530.08
Book Value[Incl.RevalReserv]/Share (Rs.) 691.22638.59579.59564.09530.08
Revenue From Operations / Share (Rs.) 962.89970.58933.381038.37851.44
PBDIT / Share (Rs.) 126.74115.9892.8975.5347.38
PBIT / Share (Rs.) 109.66100.7077.5559.6330.29
PBT / Share (Rs.) 96.6691.3666.4847.8120.85
Net Profit / Share (Rs.) 70.0367.4537.8030.7816.45
NP After MI And SOA / Share (Rs.) 70.0467.4637.8030.8316.49
PBDIT Margin (%) 13.1611.949.957.275.56
PBIT Margin (%) 11.3810.378.305.743.55
PBT Margin (%) 10.039.417.124.602.44
Net Profit Margin (%) 7.276.944.042.961.93
NP After MI And SOA Margin (%) 7.276.954.052.961.93
Return on Networth / Equity (%) 10.1310.566.525.463.11
Return on Capital Employeed (%) 11.4311.8210.046.763.47
Return On Assets (%) 4.985.173.152.251.20
Long Term Debt / Equity (X) 0.000.000.000.000.04
Total Debt / Equity (X) 0.070.020.150.340.28
Asset Turnover Ratio (%) 0.710.770.720.760.65
Current Ratio (X) 2.682.492.382.382.32
Quick Ratio (X) 1.401.291.231.361.38
Inventory Turnover Ratio (X) 1.740.991.021.121.02
Dividend Payout Ratio (NP) (%) 29.1714.7726.3720.0450.16
Dividend Payout Ratio (CP) (%) 23.4512.0418.7513.2224.63
Earning Retention Ratio (%) 70.8385.2373.6379.9649.84
Cash Earning Retention Ratio (%) 76.5587.9681.2586.7875.37
Interest Coverage Ratio (X) 9.7512.428.396.405.02
Interest Coverage Ratio (Post Tax) (X) 6.398.224.413.612.74
Enterprise Value (Cr.) 13661.9813349.445580.608378.895880.20
EV / Net Operating Revenue (X) 3.403.291.431.931.65
EV / EBITDA (X) 25.8127.5514.3826.5629.71
MarketCap / Net Operating Revenue (X) 3.343.281.351.751.47
Retention Ratios (%) 70.8285.2273.6279.9549.83
Price / BV (X) 4.664.982.173.222.37
Price / Net Operating Revenue (X) 3.343.281.351.751.47
EarningsYield 0.020.020.030.010.01

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

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 earth-moving machinery (bulldozers, angle-dozers, graders, scrapers, levellers, mechanical shovels, shovel loaders, off-road dumping trucks etc.). Company's Total Operating Revenue is Rs. 4022.22 Cr. and Equity Capital is Rs. 41.77 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Auto - Construction VehiclesBEML SOUDHA, No. 23/1, 4th Main Road, Bengaluru Karnataka 560027Contact not found
Management
NamePosition Held
Mr. Shantanu RoyChairman & Managing Director
Mr. Anil JerathDirector - Finance
Mr. Vikas KakatkarIndependent Director
Mr. Siva MakutamIndependent Director
Mr. Bipin Kumar GuptaIndependent Director
Mr. Debi Prasad SatpathyDirector - Human Resources
Mr. Rajeev Kumar GuptaDirector - Rail & Metro Business
Mr. Sanjay SomDirector - Mining & Construction Business
Ms. Meera MohantyGovernment Nominee Director

FAQ

What is the intrinsic value of BEML Ltd and is it undervalued?

As of 05 April 2026, BEML Ltd's intrinsic value is ₹680.42, which is 53.93% lower than the current market price of ₹1,477.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (10.5 %), book value (₹336), dividend yield (0.72 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of BEML Ltd?

BEML Ltd is trading at ₹1,477.00 as of 05 April 2026, with a FY2026-2027 high of ₹2,437 and low of ₹1,226. The stock is currently near its 52-week low. Market cap stands at ₹12,300 Cr..

How does BEML Ltd's P/E ratio compare to its industry?

BEML Ltd has a P/E ratio of 49.4, which is above the industry average of 35.90. The premium over industry average may reflect growth expectations or speculative interest.

Is BEML Ltd financially healthy?

Key indicators for BEML Ltd: ROCE of 15.6 % indicates efficient capital utilization. Dividend yield is 0.72 %.

Is BEML Ltd profitable and how is the profit trend?

BEML Ltd reported a net profit of ₹293 Cr in Mar 2025 on revenue of ₹4,022 Cr. Compared to ₹129 Cr in Mar 2022, the net profit shows an improving trend.

Does BEML Ltd pay dividends?

BEML Ltd has a dividend yield of 0.72 % at the current price of ₹1,477.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in BEML Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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