BEML Ltd
BEML Q3 FY26 earnings call: Revenue & Margins
Q3 FY26 earnings call: what management said on revenue, margins and capex.
BEML Ltd Q3 FY26 key numbers
- Revenue
- Current order book stands at INR 16,300 crores, with 68% from Rail and Metro, 25% Defense, and 7% Mining & Construction.
As stated in BEML Ltd's Q3 FY26 earnings call transcript · published 17 Jul 2026. Reported figures, not investment advice.
The short version
Current order book stands at INR 16,300 crores, with 68% from Rail and Metro, 25% Defense, and 7% Mining & Construction. BEML expects to achieve a revenue growth of 15% to 20% in Q4 FY26, aiming for the higher end of this range but avoids precise speculation.
From BEML Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Current order book stands at INR 16,300 crores, with 68% from Rail and Metro, 25% Defense, and 7% Mining & Construction.
- Expected order book to cross INR 20,000 crores in the current financial year.
- Revenue from sales grew 24% year-on-year in Q3 FY '26, with anticipated growth aligning with current guidance.
- Rolling stock capacity expansion underway: Phase 1 (INR 900 crores) and Phase 2 (INR 600 crores) for Bhopal plant to add 300 to 800 coaches annually post-completion.
- Plans to deliver 8-9 trains in the current financial year; 33 more train sets expected to be delivered starting FY '26-'27 to FY '27-'28.
- Chennai Metro project to commence deliveries from December 2026 (FY '26-'27).
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Profitability & Margins
Read what BEML Ltd said on margins in the Q3 FY26 call
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Capital Expenditure Plans
- BEML has approved a capital investment of INR 1,500 crores for a new rolling stock manufacturing plant in Bhopal.
- The investment will be executed in two phases: Phase 1 involves around INR 900 crores and Phase 2 around INR 600 crores (including GST).
- The Bhopal facility will add capacity of 300 additional coaches per annum in Phase 1, with a total capacity of 800 coaches per annum after Phase 2.
- Civil works for the Bhopal plant have commenced, with boundary wall nearly 50% complete.
- Financing for the Bhopal project will be through long-term debt, with financial closure expected in the next couple of months.
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Fundraising & Capital Structure
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Order Book & Pipeline
- Current order book stands at INR 16,300 crores:
- 68% from Rail and Metro
- 25% from Defense
- 7% from Mining and Construction
- Expected to cross INR 20,000 crores order book in the current financial year.
- Rail & Metro orders include:
- 63 train sets (completed)
- 33 Mumbai Metro train sets pending, with delivery starting from FY '26-'27 or '27-'28
- Chennai Metro first prototype due December 2026, with production starting FY '26-'27
- Bangalore Metro underway with NCNC trials lasting 1-1.5 years
- MRVC project for 2,856 AC EMU cars in pipeline
- Export metro rolling stock orders expected in 2-3 months
- Defense:
- Pipeline of high-mobility vehicles worth ~INR 1,000 crores
- Combat engineering bridging systems requiring 45-47 units (~INR 1,000 crores)
- Orders for trawl and self-propelled mine barrier expected in FY '26-'27
- 194 ARVs bid in progress
- Mining:
- Currently patchy order flow, expected improvement in next financial year
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BEML Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q3 FY26): revenue ₹1.1K Cr, net loss ₹22 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What BEML Ltd's management said in earlier quarters
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Frequently Asked Questions
What were BEML Ltd Q3 FY26 results?
Current order book stands at INR 16,300 crores, with 68% from Rail and Metro, 25% Defense, and 7% Mining & Construction. BEML expects to achieve a revenue growth of 15% to 20% in Q4 FY26, aiming for the higher end of this range but avoids precise speculation.
What is BEML Ltd share price analysis?
BEML Ltd currently shows a neutral. The stock trades at a P/E of 98.5 with a market cap of ₹13,923 Cr. Investors should review the full earnings analysis for detailed insights.
Is BEML Ltd planning capital expenditure?
BEML has approved a capital investment of INR 1,500 crores for a new rolling stock manufacturing plant in Bhopal.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.