BEML, a leading defence and aerospace company in India, has secured a lucrative order from the Ministry of Defence (Army) for supplying command post vehicles. The order is worth Rs 101 crore approximately and was announced after market hours yesterday.
Command post vehicles are specialized vehicles that provide communication and command facilities for military operations. They are equipped with advanced systems and devices that enable secure and reliable communication among various units of the armed forces.
BEML is a public sector undertaking under the Ministry of Defence. It has three major business segments: defence & aerospace, mining & construction, and rail & metro. The company manufactures a wide range of products such as combat vehicles, earthmoving equipment, metro coaches, and aerospace components.
The company reported a standalone net loss of Rs 74.64 crore in Q1 FY24, which was lower than the net loss of Rs 82.33 crore in Q1 FY23. The revenue from operations also declined by 13.8% to Rs 576.91 crore in the quarter ended 30 June 2023.
The stock price of BEML rose by 2.76% to Rs 2,143.45 on the BSE today, after touching an all-time high of Rs 2,183.95 in intraday trading. The stock has gained over 50% in the past one year, outperforming the benchmark index.
The order from the Ministry of Defence is a positive development for BEML, as it reflects its strong capabilities and expertise in the defence sector. The company is also expected to benefit from the government’s initiatives to boost domestic defence production and self-reliance in defence procurement.
This blog post is intended to provide general information about BEML and its recent order from the Ministry of Defence. It is not a recommendation or advice to buy or sell any securities. Investors are advised to do their own research and analysis before making any investment decisions.