BEML Ltd
BEML Ltd Q4 FY26 Results & Concall Highlights: Order Book ₹16,700 Cr
Q4 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Revenue growth expected with executable order book starting at 5,500 crores for the year, a historic first. EBITDA margins expected around 16% sustainable, with exports potentially reaching 20-25% EBITDA depending on dollar strength.
From BEML Ltd's Q4 FY26 earnings-call transcript · updated 25 Aug 2026.
Revenue & Sales Performance
- Revenue growth expected with executable order book starting at 5,500 crores for the year, a historic first.
- Rail and Metro segment expected to contribute around 70% of order inflow (estimated 10,000 crores) in FY26-27.
- Export orders, including rolling stock opportunities in Africa, West Asia, Tel Aviv, and Dublin, expected to grow.
- Mining orders expected to pick up from Q2 FY26, supported by a good pipeline and export focus.
- Expect around 20% reduction in working capital this year improving cash flow and revenue recognition.
- Sustainable EBITDA margin anticipated near 16%, with margin support from contracts having price variation clauses.
- New capacities like Bhopal facility coming online next year to support execution growth.
- R&D spend sustained at around 7% of revenue, aiming for significant product pipeline growth.
- Long-term revenue from new products like tunnel boring machines and ship-to-shore cranes expected in 5 years.
Profitability & Margins
See what BEML Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Creation of testing facility at Puttaparthi for AMCA project (no CAPEX, only OPEX) (Page 8).
- Investment in BRAHMA plant to increase coach production capacity by 300-350 coaches per annum; expected operational in 2.5 to 3 years (Page 9).
- Preparation for manufacturing aluminum coaches for high-speed trains (350 kmph), supporting seven new corridors (Page 9).
- Development of new products like tunnel boring machines and ship-to-shore cranes; revenue expected in around 5 years due to product development phase (Page 11).
- Expansion in mining and export segments, including new EV trucks and dump trucks as future product lines (Pages 9 & 16).
- CAPEX and R&D expenses at all-time high to support growth and product pipeline (Page 4).
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Ranked on what management guided this quarter
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Fundraising & Capital Structure
See what BEML Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- Current order book: ₹16,700 crores (Page 10).
- Executable order book at the start of the year: ₹5,500 crores (Page 6).
- Expected closing order book for the year: around ₹24,000 crores after executing ₹6,000 crores (Page 8).
- Rail & Metro constitute about 65-70% of order book; Defense about 25%; Mining & Construction (M&C) about 4%; Exports about 6% (Page 7).
- Metro backlog: ₹9,000-10,000 crores; Mumbai Metro fixed-cost portion ₹2,000 crores, rest have price variation clauses (Pages 17-18).
- Expected order inflow for FY26-FY27: ₹10,000-12,000 crores mainly from Railways (70% commuter rail, 30% metro) (Pages 15, 13).
- Orders in pipeline include defense projects like QRSAM, ARV, Sarvatra bridging (₹1,500 crores), and export rolling stock opportunities in Africa, West Asia, Tel Aviv, and Dublin (Pages 8, 5).
- Company aims to add about ₹10,000-12,000 crores annually to keep executable order book healthy (Page 8).
BEML Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹1.1K Cr, net loss ₹22 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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Frequently Asked Questions
What were BEML Ltd Q4 FY26 results?
Revenue growth expected with executable order book starting at 5,500 crores for the year, a historic first. EBITDA margins expected around 16% sustainable, with exports potentially reaching 20-25% EBITDA depending on dollar strength.
What is BEML Ltd share price analysis?
BEML Ltd currently shows a neutral. The stock trades at a P/E of 90.3 with a market cap of ₹16,120 Cr. Investors should review the full earnings analysis for detailed insights.
Is BEML Ltd planning capital expenditure?
Creation of testing facility at Puttaparthi for AMCA project (no CAPEX, only OPEX) (Page 8).
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.