Rs 15.50 Dividend: Defence PSU Hits 3rd 52-Week High, Shares Up 44% In 2-Weeks, PL Bullish

Defence sector public sector undertaking BEML Ltd. continue to rally after reporting healthy quarterly earnings, attractive dividend, and recent order win. The defence PSU reported a surge of 62.9% year-on-year (YoY) in its consolidated net profit to Rs 256.8 crore for the quarter ended March 31, 2024 amid robust operating figures. The PSU declared a growth of 9% YoY in its revenue from operations to Rs 1513.7 crore. BEML shares witnessed stunning rally of 24% in last 1-week, 44% in 2-weeks, and 223% in last 1-year.

Board of Directors also sought to reward shareholders with attractive dividend by announcing a final dividend of Rs 15.50 per share. The record date will be issued in due course, as per the BSE filing. Current market price of BEML share on BSE is Rs 4584.05 per share. Check details below:

BEML To Reward Rs 15.50/ Equity Share Dividend: As per the BSE filing of the company, it declared final dividend of Rs.15.50 per equity share (i.e.155 % of paid-up share capital) on May 12 and yet to issue record date for the same.

BEML Q4 Performance: It declared its EBITDA at Rs 370.04 crore, up 29.2% with margins improving 24.5% from 20.7% on the basis of year-on-year (YoY). For the whole year for FY 2023, BEML declared its net profit surged 78.46% YoY to Rs 281.77 crore as compared to Rs 157.89 crore reported in the last fiscal ended March 2023. Its sales witnessed a rally of 3.98% YoY to Rs 4054.32 crore as compared to Rs 3,898.95 crore in the year ago period.

PL Gives Buy On BEML: ️The analyst assigned buy call to BEML shares but yet to issue the target price. According to PL's report issued on May 23, 2024, "BEML is in a sweet spot to capture long-term growth on the back of a strong railway & defence capex in India, healthy order prospects in modernization of defence vehicles (HMVs, ARVs, etc.), large tender pipeline for metro & Vande Bharat rolling stock, and ramp up in margins on account of scale up in execution."

BEML Order Win On May 17, 2024: BEML announced on May 17, 2024 about its latest order win. The PSU received an order from M/s. Northern Coal Fields Limited for dump trucks contract worth Rs. 250 Crores.

BEML Dividend History: BEML declared 33 dividends since August 30, 2001. In last 1-year period, BEML declared an equity dividend amounting to Rs 10.00 per share. If the current share price of Rs 4576.35 per share is taken into consideration, BEML shares offer a dividend yield of 0.22%.

BEML Share Performance: The 52-week high price of BEML Ltd share on BSE 4770.00 apiece (as on 23/05/2024) and 52-week low price is Rs 1400.00 per share (as on 26/05/2023). BEML has a market capitalisation of Rs 19,075.89 crore. BEML shares jumped

About: BEML Limited (formerly Bharat Earth Movers Limited) was established in May 1964 as a Public Sector Undertaking for manufacture of Rail Coaches & Spare Parts and Mining Equipment at its Bangalore Complex. The Company is a listed on both Exchanges (BSE & NSE) with Government of India owning 54.03% and rest 44.97% is held by Financial Institutions, Foreign Institutional Investors, Banks, Public and Employees. BEML Limited, a 'Schedule 'A' Company under Ministry of Defence, Govt. Of India, plays a pivotal role and serves India's core sectors like Defence, Rail, Power, Mining and Infrastructure, according to its official website.

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