BEML Ltd: Intrinsic Value & Share Price Analysis

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

As of 11 September 2026, BEML Ltd's intrinsic value is 651.14, which is 66.00% lower than the current market price of 1,915.00, suggesting the stock is overvalued. Calculated using the PE ratio method factoring in ROE (4.86 %), book value (352), dividend yield (0.25 %), and 5-year EPS CAGR.

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

BEML Ltd is trading at 1,915.00 as of 11 September 2026, with a FY2026-2027 high of 2,277 and low of 1,355. The stock is currently in the middle of its 52-week range. Market cap stands at 15,950 Cr..

Q: Is BEML Ltd financially healthy?

Key indicators: ROCE of 7.71 % is on the lower side. Dividend yield is 0.25 %.

Q: 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.

Fair Value

₹1,226.57Overvalued by 35.95%vs CMP ₹1,915.00

P/E (89.4) × ROE (4.9%) × BV (₹352.00) × DY (0.25%)

₹651.14Overvalued by 66.00%vs CMP ₹1,915.00

MoS: -194.1% (Negative)Confidence: 68/100 (Moderate)Models: All 9: Overvalued

Model	Category	Value	Weight	Signal
PE-ROE	Earnings	₹1,399.53	23%	Over (-26.9%)
Graham Number	Earnings	₹486.63	16%	Over (-74.6%)
Earnings Power	Earnings	₹226.20	11%	Over (-88.2%)
DCF	Cash Flow	₹547.51	14%	Over (-71.4%)
Net Asset Value	Assets	₹352.26	7%	Over (-81.6%)
EV/EBITDA	Enterprise	₹794.21	9%	Over (-58.5%)
Earnings Yield	Earnings	₹299.00	7%	Over (-84.4%)
ROCE Capital	Returns	₹112.59	7%	Over (-94.1%)
Revenue Multiple	Revenue	₹482.89	5%	Over (-74.8%)
Consensus (9 models)		₹651.14	100%	Overvalued

Key Drivers: ROE 4.9% is below cost of equity. | Wide model spread (₹113–₹1,400) — 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

Analyst Summary

BEML Ltd operates in the Auto - Construction Vehicles segment, NSE: BEML | BSE: 500048, current market price is ₹1,915.00, market cap is 15,950 Cr.. At a glance, stock P/E is 89.4, ROE is 4.86 %, ROCE is 7.71 %, book value is 352, dividend yield is 0.25 %. The latest intrinsic value estimate is ₹651.14, around 66.0% below the current price, so expectations may already be running ahead of this modelled fair value. On operating trend, latest reported sales are about ₹4,022 Cr versus the prior period change of -0.8%, while latest net profit is about ₹293 Cr with a prior-period change of 3.9%. The 52-week range shown on this page is 2,277/1,355, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisBEML 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 L35202KA1964GO…

This summary is generated from the stock page data available for BEML Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

BEML Ltd scores 52/100 (Average)

Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison

Stock Health62/100 · Moderate

ROCE 7.7% WeakROE 4.9% WeakD/E 0.28 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent

Smart Money65/100 · Strong

FII holding stable No changeDII holding up 0.86% MF buyingPromoter 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 Rank10/100 · Weak

P/E 89.4 vs industry 52.2 Premium to peersROCE 7.7% vs industry 17.9% Below peersROE 4.9% vs industry 13.0% 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.

Share Price and Basic Stock Data

Last Updated: August 25, 2026, 5:16 am

Market Cap	15,950 Cr.
Current Price	1,915
Intrinsic Value	₹651.14
High / Low	2,277/1,355
Stock P/E	89.4
Book Value	352
Dividend Yield	0.25 %
ROCE	7.71 %
ROE	4.86 %
Face Value	5.00
PEG Ratio	6.34

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

Stock P/E Current Price Intrinsic Value

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	15,950 Cr.	1,915	2,277/1,355	89.4	352	0.25 %	7.71 %	4.86 %	5.00
Action Construction Equipment Ltd	13,899 Cr.	1,167	1,196/745	31.8	169	0.17 %	31.7 %	22.9 %	2.00
Brady & Morris Engineering Company Ltd	171 Cr.	758	1,375/650	35.5	235	0.00 %	14.4 %	11.1 %	10.0
Industry Average	10,006.67 Cr	1,280.00		52.23	252.00	0.14%	17.94%	12.95%	5.67

All Competitor Stocks of BEML Ltd

Quarterly Result

Metric	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	805	1,037	1,388	577	917	1,047	1,514	634	860	876	1,653	634	839
Expenses	763	948	1,101	627	858	991	1,143	684	787	815	1,230	683	766
Operating Profit	42	89	287	-51	59	56	370	-50	73	60	422	-49	73
OPM %	5%	9%	21%	-9%	6%	5%	24%	-8%	8%	7%	26%	-8%	9%
Other Income	1	5	19	1	10	34	5	1	15	5	4	9	7
Interest	11	12	12	10	11	8	11	9	16	17	13	10	10
Depreciation	16	16	16	16	16	16	17	17	17	19	19	20	20
Profit before tax	16	66	278	-75	42	67	348	-75	55	30	395	-70	50
Tax %	0%	0%	43%	0%	-23%	28%	26%	-7%	7%	17%	27%	-9%	5%
Net Profit	16	66	158	-75	52	48	257	-70	51	24	288	-64	48
EPS in Rs	1.95	7.96	18.93	-9.00	6.22	5.79	30.83	-8.46	6.13	2.93	34.52	-7.70	5.77

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

Quarterly Chart

Profit & Loss - Annual Report

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

Metric	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	2,904	2,802	2,975	2,494	3,239	3,474	3,025	3,597	4,337	3,899	4,054	4,022	4,209
Expenses	2,773	2,728	2,825	2,341	2,986	3,237	2,942	3,419	4,012	3,530	3,609	3,516	3,759
Operating Profit	131	74	149	153	253	238	84	178	325	369	445	506	450
OPM %	5%	3%	5%	6%	8%	7%	3%	5%	8%	9%	11%	13%	11%
Other Income	60	60	42	63	25	23	49	20	6	22	42	24	23
Interest	127	76	56	55	48	60	41	39	65	49	42	54	44
Depreciation	54	53	57	63	65	71	72	71	66	64	64	71	80
Profit before tax	10	5	79	98	164	130	19	87	200	278	382	404	349
Tax %	39%	-9%	18%	14%	21%	52%	-229%	21%	36%	43%	26%	28%
Net Profit	6	6	64	85	130	63	64	69	129	158	282	293	249
EPS in Rs	0.73	0.71	7.73	10.18	15.57	7.58	7.67	8.27	15.46	18.96	33.83	35.12	29.90
Dividend Payout %	68%	70%	26%	39%	26%	46%	39%	36%	32%	26%	30%	29%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
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: June 19, 2026, 2:30 am

Month	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	42	42	42	42	42	42	42	42	42	42	42	42
Reserves	2,035	2,088	2,141	2,159	2,146	2,211	2,173	2,315	2,380	2,626	2,846	2,892
Borrowings	645	569	438	446	404	341	743	832	381	71	229	309
Other Liabilities	1,921	1,722	2,137	2,097	2,495	2,570	2,885	2,624	2,304	2,852	2,928	3,768
Total Liabilities	4,643	4,420	4,757	4,744	5,086	5,163	5,843	5,813	5,107	5,591	6,044	7,011
Fixed Assets	482	557	583	595	631	621	601	621	505	528	580	705
CWIP	192	104	79	68	25	15	14	14	23	37	107	276
Investments	0	0	0	0	0	0	0	0	0	0	6	8
Other Assets	3,969	3,759	4,094	4,081	4,430	4,527	5,228	5,178	4,579	5,026	5,351	6,022
Total Assets	4,643	4,420	4,757	4,744	5,086	5,163	5,843	5,813	5,107	5,591	6,044	7,011

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity +	548	80	209	130	257	106	-301	51	560	458	99	118
Cash from Investing Activity +	-36	-33	-59	-62	-62	-51	-49	-25	-20	-68	-210	-354
Cash from Financing Activity +	-384	-105	-160	-101	-129	3	-176	-10	-331	-130	107	238
Net Cash Flow	128	-57	-11	-33	65	57	-526	16	208	260	-4	2
Free Cash Flow	502	53	144	64	192	54	-350	30	551	358	-92	-208
CFO/OP	722%	64%	83%	58%	119%	39%	-229%	26%	176%	116%	44%	68%

Free Cash Flow

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Free Cash Flow	131.00	-571.00	-420.00	-285.00	-193.00	-166.00	-257.00	-565.00	-507.00	-12.00	374.00	277.00

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

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	123	129	148	209	186	170	182	191	157	116	130	154
Inventory Days	478	460	375	615	395	331	482	373	328	369	418	462
Days Payable	84	127	89	152	114	142	152	133	85	116	132	129
Cash Conversion Cycle	517	462	434	673	467	358	512	432	400	369	416	487
Working Capital Days	254	243	246	316	245	232	337	291	242	236	261	295
ROCE %	4%	3%	5%	6%	8%	7%	2%	5%	9%	10%	15%	16%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
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	6.79%	9.12%	9.91%	6.76%	5.66%	7.41%	7.26%	5.67%	5.82%	5.51%	5.59%	5.48%
DIIs	19.03%	18.97%	17.79%	20.14%	18.51%	18.10%	18.69%	18.80%	18.54%	18.39%	18.71%	19.40%
Public	20.16%	17.87%	18.28%	19.08%	21.79%	20.45%	20.00%	21.51%	21.62%	22.08%	21.68%	21.10%
No. of Shareholders	1,01,576	99,586	1,21,001	1,52,698	1,91,604	1,85,005	1,92,797	1,95,176	1,93,304	1,98,478	2,00,609	1,97,269

Shareholding Pattern Chart

No. of Shareholders

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

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
HDFC Defence Fund	2,851,602	6.57	511.83	N/A	N/A	N/A
HDFC Balanced Advantage Fund	2,143,066	0.36	384.66	1,071,533	2025-12-15 00:13:12	100%
Kotak Flexicap Fund	1,900,000	0.6	341.03	950,000	2025-12-15 00:13:12	100%
Kotak Small Cap Fund	1,459,578	1.6	261.98	729,789	2025-12-15 00:13:12	100%
Invesco India Focused Fund	770,280	2.84	138.26	385,140	2025-12-15 00:13:12	100%
Invesco India Smallcap Fund	609,984	1.22	109.49	304,992	2025-12-15 00:13:12	100%
Kotak Large & Midcap Fund	600,000	0.36	107.69	300,000	2025-12-15 00:13:12	100%
HDFC Manufacturing Fund	450,000	0.78	80.77	N/A	N/A	N/A
HDFC Small Cap Fund	406,478	0.2	72.96	203,239	2025-12-15 00:13:12	100%
ICICI Prudential Manufacturing Fund	398,049	1.13	71.45	470,742	2026-02-22 20:13:25	-15.44%

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	70.24	67.66	37.91	30.88	16.50
Diluted EPS (Rs.)	70.24	67.66	37.91	30.88	16.50
Cash EPS (Rs.)	87.11	82.73	53.14	46.69	33.53
Book Value[Excl.RevalReserv]/Share (Rs.)	691.22	638.59	579.59	564.09	530.08
Book Value[Incl.RevalReserv]/Share (Rs.)	691.22	638.59	579.59	564.09	530.08
Revenue From Operations / Share (Rs.)	962.89	970.58	933.38	1038.37	851.44
PBDIT / Share (Rs.)	126.74	115.98	92.89	75.53	47.38
PBIT / Share (Rs.)	109.66	100.70	77.55	59.63	30.29
PBT / Share (Rs.)	96.66	91.36	66.48	47.81	20.85
Net Profit / Share (Rs.)	70.03	67.45	37.80	30.78	16.45
NP After MI And SOA / Share (Rs.)	70.04	67.46	37.80	30.83	16.49
PBDIT Margin (%)	13.16	11.94	9.95	7.27	5.56
PBIT Margin (%)	11.38	10.37	8.30	5.74	3.55
PBT Margin (%)	10.03	9.41	7.12	4.60	2.44
Net Profit Margin (%)	7.27	6.94	4.04	2.96	1.93
NP After MI And SOA Margin (%)	7.27	6.95	4.05	2.96	1.93
Return on Networth / Equity (%)	10.13	10.56	6.52	5.46	3.11
Return on Capital Employeed (%)	11.43	11.82	10.04	6.76	3.47
Return On Assets (%)	4.98	5.17	3.15	2.25	1.20
Long Term Debt / Equity (X)	0.00	0.00	0.00	0.00	0.04
Total Debt / Equity (X)	0.07	0.02	0.15	0.34	0.28
Asset Turnover Ratio (%)	0.71	0.77	0.72	0.76	0.65
Current Ratio (X)	2.68	2.49	2.38	2.38	2.32
Quick Ratio (X)	1.40	1.29	1.23	1.36	1.38
Inventory Turnover Ratio (X)	1.74	0.99	1.02	1.12	1.02
Dividend Payout Ratio (NP) (%)	29.17	14.77	26.37	20.04	50.16
Dividend Payout Ratio (CP) (%)	23.45	12.04	18.75	13.22	24.63
Earning Retention Ratio (%)	70.83	85.23	73.63	79.96	49.84
Cash Earning Retention Ratio (%)	76.55	87.96	81.25	86.78	75.37
Interest Coverage Ratio (X)	9.75	12.42	8.39	6.40	5.02
Interest Coverage Ratio (Post Tax) (X)	6.39	8.22	4.41	3.61	2.74
Enterprise Value (Cr.)	13661.98	13349.44	5580.60	8378.89	5880.20
EV / Net Operating Revenue (X)	3.40	3.29	1.43	1.93	1.65
EV / EBITDA (X)	25.81	27.55	14.38	26.56	29.71
MarketCap / Net Operating Revenue (X)	3.34	3.28	1.35	1.75	1.47
Retention Ratios (%)	70.82	85.22	73.62	79.95	49.83
Price / BV (X)	4.66	4.98	2.17	3.22	2.37
Price / Net Operating Revenue (X)	3.34	3.28	1.35	1.75	1.47
EarningsYield	0.02	0.02	0.03	0.01	0.01

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

[display_about_company_data title=”About the Company – Qualitative Analysis”]

FAQ

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

As of 11 September 2026, BEML Ltd's intrinsic value is ₹651.14, which is 66.00% lower than the current market price of ₹1,915.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (4.86 %), book value (₹352), dividend yield (0.25 %), and 5-year EPS CAGR.

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

BEML Ltd is trading at ₹1,915.00 as of 11 September 2026, with a FY2026-2027 high of ₹2,277 and low of ₹1,355. The stock is currently in the middle of its 52-week range. Market cap stands at ₹15,950 Cr..

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

BEML Ltd has a P/E ratio of 89.4, which is above the industry average of 52.23. The premium over industry average may reflect growth expectations or speculative interest.

Is BEML Ltd financially healthy?

Key indicators for BEML Ltd: ROCE of 7.71 % is on the lower side compared to the industry average of 17.94%; ROE of 4.86 % is below ideal levels (industry average: 12.95%). Dividend yield is 0.25 %.

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 0.25 % at the current price of ₹1,915.00. The company pays dividends, though the yield is modest.