BEML Ltd, or Bharat Earth Movers Limited, is a prominent Indian public sector undertaking established in 1964, headquartered in Bangalore, Karnataka. Renowned as Asia’s second-largest manufacturer of earth-moving equipment, BEML operates across three critical business verticals: Defence & Aerospace, Mining & Construction, and Rail & Metro. In the Defence & Aerospace sector, the company produces high-mobility vehicles, ground support equipment, and other advanced defense machinery. Within the Mining & Construction domain, BEML is a leading supplier of robust equipment such as bulldozers, dump trucks, excavators, and loaders, pivotal for the mining and infrastructure industries. Its Rail & Metro segment specializes in manufacturing state-of-the-art railway coaches and metro cars, including high-tech, driverless metro trains that support India’s urban transport systems. With a significant presence in sectors such as defense, rail, power, mining, and infrastructure, BEML plays a vital role in the nation’s industrial and strategic development.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | |
| Promoters + | 54.03% | 54.03% | 54.03% | 54.03% | 54.03% |
| FIIs + | 9.12% | 9.91% | 6.76% | 5.66% | 7.41% |
| DIIs + | 18.97% | 17.79% | 20.14% | 18.51% | 18.10% |
| Public + | 17.87% | 18.28% | 19.08% | 21.79% | 20.45% |
| No. of Shareholders | 99,586 | 1,21,001 | 1,52,698 | 1,91,604 | 1,85,005 |
The shareholding pattern of BEML Ltd demonstrates consistent promoter stability and evolving dynamics among institutional and public investors throughout 2023 and 2024. Promoters maintained a steady 54.03% stake across all quarters, highlighting strong ownership confidence. FIIs (Foreign Institutional Investors) exhibited fluctuations, starting at 9.12% in December 2023, peaking at 9.91% in March 2024, and subsequently declining to 5.66% in September 2024 before recovering to 7.41% by December 2024. DIIs (Domestic Institutional Investors) displayed a similar variance, with their stake oscillating between 17.79% and 20.14%, ending at 18.10% in December 2024. The public shareholding showed a consistent upward trend, rising from 17.87% in December 2023 to 21.79% by September 2024, followed by a slight decline to 20.45% in December 2024. Additionally, the number of shareholders saw significant growth, from 99,586 in December 2023 to a peak of 1,91,604 in September 2024, reflecting increased investor interest in BEML, before slightly settling at 1,85,005 by the year-end.
Latest News on BEML
BEML Limited recently secured two significant contracts, showcasing its leadership in manufacturing heavy equipment for critical sectors. The company won a ₹3,658 crore order from Chennai Metro Rail Limited for the design, manufacture, supply, testing, commissioning, and comprehensive 15-year maintenance of metro rolling stock and depot machinery, emphasizing its role in enhancing urban transportation infrastructure. Additionally, BEML received a ₹246.78 crore contract from Central Coalfields Limited to supply 48 BH60M rear dump trucks, complete with spares and after-sales service, to strengthen India’s mining operations. These contracts not only boost BEML’s order book but also reaffirm its commitment to supporting India’s infrastructure and mining sectors with advanced solutions.
Below are the trading platforms that you can use to purchase BEML shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
| When | Maximum Price | Minimum Price |
| February 2025 | 3,343.99 | 2,572.30 |
| March 2025 | 3,414.21 | 2,626.32 |
| April 2025 | 3,380.41 | 2,600.31 |
| May 2025 | 3,281.95 | 2,524.58 |
| June 2025 | 3,429.64 | 2,638.18 |
| July 2025 | 3,362.39 | 2,586.45 |
| August 2025 | 3,466.38 | 2,666.45 |
| September 2025 | 3,507.98 | 2,698.44 |
| October 2025 | 3,599.19 | 2,768.60 |
| November 2025 | 3,689.17 | 2,837.82 |
| December 2025 | 3,855.18 | 2,965.52 |
In 2025, BEML’s share prices are projected to rise steadily. February may see a maximum of ₹3,343.99 and a minimum of ₹2,572.30. By June, prices could reach ₹3,429.64 and ₹2,638.18. In October, the maximum might touch ₹3,599.19 and the minimum ₹2,768.60. December is expected to close strong, with a maximum of ₹3,855.18 and a minimum of ₹2,965.52.
| When | Maximum Price | Minimum Price |
| January 2026 | 3,970.83 | 3,054.49 |
| February 2026 | 3,871.56 | 2,978.12 |
| March 2026 | 3,948.99 | 3,037.69 |
| April 2026 | 4,029.59 | 3,099.68 |
| May 2026 | 3,989.69 | 3,068.99 |
| June 2026 | 4,089.43 | 3,145.72 |
| July 2026 | 4,009.25 | 3,084.04 |
| August 2026 | 4,133.24 | 3,179.42 |
| September 2026 | 4,215.91 | 3,243.01 |
| October 2026 | 4,325.52 | 3,327.32 |
| November 2026 | 4,433.66 | 3,410.51 |
| December 2026 | 4,544.50 | 3,495.77 |
As we progress through 2026, BEML’s share prices are expected to demonstrate a consistent upward trend. January might witness a maximum of ₹3,970.83 and a minimum of ₹3,054.49. By mid-year in June, prices could rise to a maximum of ₹4,089.43 and a minimum of ₹3,145.72. Moving into October, projections suggest a peak of ₹4,325.52 and a low of ₹3,327.32. Finally, December is anticipated to close the year with a maximum of ₹4,544.50 and a minimum of ₹3,495.77.
| When | Maximum Price | Minimum Price |
| January 2027 | 4,589.95 | 3,530.73 |
| February 2027 | 4,707.64 | 3,621.26 |
| March 2027 | 4,891.23 | 3,762.49 |
| April 2027 | 4,795.33 | 3,688.71 |
| May 2027 | 4,655.66 | 3,581.28 |
| June 2027 | 4,865.16 | 3,742.43 |
| July 2027 | 4,769.77 | 3,669.05 |
| August 2027 | 4,917.29 | 3,782.53 |
| September 2027 | 5,089.39 | 3,914.92 |
| October 2027 | 5,221.72 | 4,016.70 |
| November 2027 | 5,352.26 | 4,117.12 |
| December 2027 | 5,486.06 | 4,220.05 |
| When | Maximum Price | Minimum Price |
| January 2028 | 5,595.79 | 4,304.45 |
| February 2028 | 5,739.27 | 4,414.82 |
| March 2028 | 5,963.10 | 4,587.00 |
| April 2028 | 5,846.18 | 4,497.06 |
| May 2028 | 5,675.90 | 4,366.08 |
| June 2028 | 5,931.31 | 4,562.55 |
| July 2028 | 5,815.01 | 4,473.09 |
| August 2028 | 5,994.86 | 4,611.43 |
| September 2028 | 6,204.68 | 4,772.83 |
| October 2028 | 6,366.00 | 4,896.92 |
| November 2028 | 6,525.15 | 5,019.35 |
| December 2028 | 6,688.28 | 5,144.83 |
| When | Maximum Price | Minimum Price |
| January 2029 | 6,822.05 | 5,247.73 |
| February 2029 | 6,996.97 | 5,382.28 |
| March 2029 | 7,269.85 | 5,592.19 |
| April 2029 | 7,127.31 | 5,482.54 |
| May 2029 | 6,919.71 | 5,322.86 |
| June 2029 | 7,231.10 | 5,562.39 |
| July 2029 | 7,089.32 | 5,453.32 |
| August 2029 | 7,308.57 | 5,621.98 |
| September 2029 | 7,564.37 | 5,818.75 |
| October 2029 | 7,761.05 | 5,970.04 |
| November 2029 | 7,955.07 | 6,119.29 |
| December 2029 | 8,153.95 | 6,272.27 |
| When | Maximum Price | Minimum Price |
| January 2030 | 8,317.03 | 6,397.71 |
| February 2030 | 8,530.28 | 6,561.76 |
| March 2030 | 8,862.97 | 6,817.67 |
| April 2030 | 8,689.18 | 6,683.99 |
| May 2030 | 8,436.10 | 6,489.31 |
| June 2030 | 8,815.72 | 6,781.33 |
| July 2030 | 8,642.87 | 6,648.36 |
| August 2030 | 8,910.17 | 6,853.98 |
| September 2030 | 9,222.03 | 7,093.87 |
| October 2030 | 9,461.80 | 7,278.31 |
| November 2030 | 9,698.35 | 7,460.27 |
| December 2030 | 9,940.80 | 7,646.77 |
As we move through 2030, BEML’s share prices are projected to reflect significant growth. January might see a maximum of ₹8,317.03 and a minimum of ₹6,397.71. By mid-year in June, prices could reach a peak of ₹8,815.72 and a low of ₹6,781.33. Moving into October, forecasts suggest a maximum of ₹9,461.80 and a minimum of ₹7,278.31. Finally, December is expected to close the year with a high of ₹9,940.80 and a low of ₹7,646.77.
Financial Condition of BEML
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
| Sales + | 3,025 | 3,597 | 4,337 | 3,899 | 4,054 | 3,883 |
| Expenses + | 2,942 | 3,419 | 4,012 | 3,530 | 3,609 | 3,430 |
| Operating Profit | 84 | 178 | 325 | 369 | 445 | 454 |
| OPM % | 3% | 5% | 8% | 9% | 11% | 12% |
| Other Income + | 49 | 20 | 6 | 22 | 42 | 24 |
| Interest | 41 | 39 | 65 | 49 | 42 | 52 |
| Depreciation | 72 | 71 | 66 | 64 | 64 | 69 |
| Profit before tax | 19 | 87 | 200 | 278 | 382 | 357 |
| Tax % | -229% | 21% | 36% | 43% | 26% | |
| Net Profit + | 64 | 69 | 129 | 158 | 282 | 262 |
| EPS in Rs | 15.35 | 16.56 | 30.96 | 37.96 | 67.74 | 62.93 |
| Dividend Payout % | 39% | 36% | 32% | 26% | 30% |
BEML has shown remarkable financial progress from March 2020 to the trailing twelve months (TTM), underlining its operational efficiency and profitability. Over this period, sales increased from ₹3,025 crore in March 2020 to ₹4,054 crore in March 2024, with TTM sales standing at ₹3,883 crore. Concurrently, expenses have been well-contained, growing moderately from ₹2,942 crore to ₹3,609 crore by March 2024, enabling a rise in operating profit margins from 3% in 2020 to an impressive 12% in the TTM.
The company’s net profit surged significantly, climbing from ₹64 crore in March 2020 to ₹282 crore in March 2024. This growth is reflected in the earnings per share (EPS), which increased from ₹15.35 to ₹67.74 during the same period. Despite its growth trajectory, BEML has consistently rewarded its shareholders with a steady dividend payout ratio, ranging between 26% and 39%. This performance underscores BEML’s strong financial health and strategic focus on long-term value creation.
FAQS
Based on our analysis, BEML is anticipated to have a trading range between ₹2,524.58 and ₹3,855.18 in the year 2025.
As per our analysis, BEML share price target for 2030 would be somewhere between ₹6,397.71 and ₹9,940.80.
You can invest in BEML shares through a stockbroker, either online or offline. You will need to open a Demat account and trading account to buy and sell shares. We recommend Groww and Paytm Money.
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Conclusion
In conclusion, BEML has demonstrated solid financial growth with increasing sales, profitability, and strong operating margins, reflecting its strategic focus on operational efficiency and long-term value creation. The company’s substantial rise in net profit and earnings per share (EPS) from ₹64 crore and ₹15.35 to ₹282 crore and ₹67.74, respectively, highlights its robust performance. Additionally, the recent significant contracts, such as the ₹3,658 crore order from Chennai Metro and the ₹246.78 crore deal with Central Coalfields, reinforce BEML’s leadership in critical sectors like urban infrastructure and mining. These positive developments showcase BEML’s strong market position and growing investor confidence, making it an attractive investment option for the future.
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