BEML Limited revenue climbs 42% while profit falls 40%

BEML Limited reported standalone revenue from operations of Rs 1,191.61 crore for the quarter ended 30 September 2026, up 42% year on year, while profit after tax fell 40% to Rs 32.93 crore from Rs 54.80 crore as material, other and finance costs increased. The Board approved the unaudited results on 5 November 2026.

How did BEML perform in the September 2026 quarter?

BEML’s standalone revenue from operations increased to Rs 1,191.61 crore in the quarter ended 30 September 2026 from Rs 839.09 crore a year earlier, an increase of Rs 352.52 crore. Total income rose to Rs 1,197.66 crore from Rs 846.14 crore, while other income declined to Rs 6.05 crore from Rs 7.05 crore.

The revenue increase also marked a sequential improvement from Rs 819.62 crore in the quarter ended 30 June 2026. BEML moved from a standalone loss after tax of Rs 27.26 crore in the June quarter to a profit of Rs 32.93 crore in the September quarter, while total income rose by Rs 376.90 crore over the preceding quarter.

BEML’s first-half revenue from operations rose to Rs 2,011.23 crore for the six months ended 30 September 2026, compared with Rs 1,473.08 crore a year earlier. However, first-half profit after tax was Rs 5.67 crore, compared with a loss of Rs 9.12 crore in the prior-year period, as the September-quarter profit offset part of the June-quarter loss.

Why did BEML’s quarterly profit decline despite higher revenue?

BEML’s total expenses increased 45% to Rs 1,150.36 crore in the September 2026 quarter from Rs 796.07 crore a year earlier, exceeding the 42% rise in total income. Profit before tax therefore declined to Rs 47.30 crore from Rs 50.07 crore despite the Rs 352.52 crore increase in revenue from operations.

Cost of materials consumed rose to Rs 723.99 crore from Rs 477.51 crore, an increase of Rs 246.48 crore or 52%. Other expenses increased to Rs 226.97 crore from Rs 158.58 crore, while finance costs rose to Rs 14.88 crore from Rs 9.91 crore and depreciation and amortisation increased to Rs 23.32 crore from Rs 19.99 crore.

Employee benefits expense increased to Rs 218.66 crore from Rs 203.45 crore. Changes in inventories of finished goods, stock-in-trade and work-in-progress were negative Rs 57.46 crore, compared with negative Rs 73.37 crore a year earlier, providing a smaller offset to costs than in the September 2025 quarter.

Tax movements also affected the difference between pre-tax and post-tax earnings. BEML recorded current tax of Rs 26.28 crore and a deferred-tax credit of Rs 11.91 crore in the September 2026 quarter, producing net tax expense of Rs 14.37 crore; in the year-earlier quarter, current tax was Rs 0.60 crore and the deferred-tax credit was Rs 5.33 crore.

What do BEML’s half-year results show?

BEML reported standalone total income of Rs 2,018.41 crore for the six months ended 30 September 2026, 36% above Rs 1,487.60 crore in the corresponding prior-year period. Total expenses rose to Rs 2,005.08 crore from Rs 1,507.61 crore, leaving profit before tax of Rs 13.33 crore, compared with a loss before tax of Rs 20.01 crore a year earlier.

The six-month profit after tax was Rs 5.67 crore, against a loss after tax of Rs 9.12 crore in the period ended 30 September 2025. Basic and diluted earnings per share, calculated on equity shares of Rs 5 each, were Rs 0.68 for the latest half year versus a loss per share of Rs 1.09 a year earlier.

BEML’s standalone total comprehensive income was a loss of Rs 42.02 crore for the latest six months, compared with a loss of Rs 15.46 crore in the prior-year period. The difference reflected other comprehensive income, net of taxes, of negative Rs 47.69 crore in the latest half year, compared with negative Rs 6.35 crore a year earlier.

What does BEML disclose about subsidiaries and advances?

BEML’s consolidated September-quarter profit after tax was Rs 33.34 crore, compared with Rs 48.03 crore a year earlier, while consolidated revenue from operations was the same Rs 1,191.61 crore reported on a standalone basis. Consolidated other income was Rs 6.49 crore, Rs 0.44 crore higher than standalone other income of Rs 6.05 crore.

The consolidated results include Vignyan Industries Limited, in which BEML holds 96.56%, and MAMC Industries Limited, which is wholly owned, on a line-by-line basis under Indian Accounting Standard 110, Consolidated Financial Statements. BEML said the voluntary liquidation of Vignyan Industries, approved by the Cabinet Committee on Economic Affairs on 8 September 2021, remains under process.

BEML disclosed an advance of Rs 74.89 crore to the MAMC consortium with Coal India Limited and Damodar Valley Corporation for acquiring specified assets of Mining & Allied Machinery Corporation Limited, which is under liquidation. BEML’s share in that consortium is 48%, and it separately advanced Rs 6.24 crore to MAMC Industries Limited for the intended joint-venture formation.

Conclusion

BEML’s September-quarter results show that a 42% rise in standalone revenue to Rs 1,191.61 crore did not translate into higher quarterly earnings because total expenses rose 45%, led by a 52% increase in material costs and a 43% rise in other expenses. Profit after tax therefore declined 40% year on year to Rs 32.93 crore, although it improved from the Rs 27.26 crore loss in the June 2026 quarter.

The next results will show whether BEML can maintain the Rs 2,011.23 crore first-half revenue run rate while containing costs that reached Rs 1,150.36 crore in the September quarter. Progress in the disclosed voluntary liquidation of Vignyan Industries and the Rs 74.89 crore advance to the MAMC consortium for specified asset acquisition also remains to be watched.