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BEML - Fundamental Analysis: Financial Health & Valuation

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Rating: 2.7

Last Updated Time : 19 Mar 26, 07:09 pm

Fundamental Rating: 2.7

Stock Code BEML Market Cap 13,003 Cr. Current Price 1,560 ₹ High / Low 2,437 ₹
Stock P/E 50.8 Book Value 333 ₹ Dividend Yield 0.68 % ROCE 16.1 %
ROE 10.6 % Face Value 5.00 ₹ DMA 50 1,695 ₹ DMA 200 1,844 ₹
Chg in FII Hold -0.31 % Chg in DII Hold -0.15 % PAT Qtr -22.7 Cr. PAT Prev Qtr 54.8 Cr.
RSI 40.5 MACD -52.5 Volume 3,30,185 Avg Vol 1Wk 2,72,764
Low price 1,226 ₹ High price 2,437 ₹ PEG Ratio 1.71 Debt to equity 0.24
52w Index 27.6 % Qtr Profit Var -192 % EPS 30.8 ₹ Industry PE 30.1

📊 Financial Overview

  • Revenue & Profitability: PAT turned negative (-22.7 Cr. vs 54.8 Cr. prior), showing sharp decline (-192%).
  • Margins & Returns: ROCE (16.1%) and ROE (10.6%) are moderate, reflecting average efficiency.
  • Debt: Debt-to-equity ratio at 0.24, manageable leverage.
  • Cash Flow: EPS at 30.8 ₹, but earnings volatility weakens consistency.

💹 Valuation Metrics

  • P/E Ratio: 50.8 vs Industry PE of 30.1 → Overvalued.
  • P/B Ratio: Current Price ₹1,560 vs Book Value ₹333 → Stretched valuation.
  • PEG Ratio: 1.71 → Suggests valuation is high relative to growth.
  • Intrinsic Value: Current price above fair value zone, limited upside.

🏢 Business Model & Competitive Advantage

  • Strong presence in defense, mining, and construction equipment manufacturing.
  • Government-linked contracts provide stability.
  • However, earnings volatility and high valuation limit competitive strength.

📈 Entry Zone Recommendation

  • Technicals: RSI at 40.5 (near oversold), MACD negative, price below 50DMA & 200DMA.
  • Suggested entry zone: ₹1,250–₹1,350 if correction continues.
  • Long-term holding viable only if profitability stabilizes and growth resumes.


✅ Positive

  • Strong industry presence in defense and infrastructure equipment.
  • Debt-to-equity ratio low (0.24).
  • Dividend yield at 0.68% provides minor income support.

⚠️ Limitation

  • Quarterly profit turned negative (-192%).
  • High P/E ratio compared to industry peers.
  • Valuation multiples stretched despite weak earnings.

📉 Company Negative News

  • FII holding reduced (-0.31%).
  • DII holding reduced (-0.15%).
  • Profitability under severe pressure.

📈 Company Positive News

  • Strong government-linked contracts ensure long-term demand.
  • Dividend yield higher than some peers.

🏭 Industry

  • Industry PE at 30.1, lower than company’s 50.8.
  • Sector growth supported by infrastructure and defense spending.

🔎 Conclusion

  • BEML shows strong industry positioning but faces sharp earnings decline.
  • Valuation is stretched compared to peers, limiting near-term upside.
  • Best strategy: Accumulate in the ₹1,250–₹1,350 zone after correction.
  • Long-term holding viable only if profitability stabilizes and growth improves.

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