BEML BEML
Defence Procurement (DAC approvals): State-controlled maker of Army trucks, recovery vehicles and the Sarvatra mobile bridge; also mining and rail
Mapped in 3 themes: Railways / Vande Bharat & Metro Rolling Stock, Aerospace Component Manufacturing & MRO and Defence Procurement (DAC approvals).
Where BEML sits in the supply chain
BEML appears in 3 supply-chain layers across 3 themes: Railways / Vande Bharat & Metro Rolling Stock, Aerospace Component Manufacturing & MRO and Defence Procurement (DAC approvals).
Railways / Vande Bharat & Metro Rolling Stock › Rolling Stock Integration & Coach Fabrication
Direct supplierMetro coaches (Bengaluru/Kolkata/Chennai), diesel & electric locomotives
Other companies in this layer
Aerospace Component Manufacturing & MRO › Systems Integration, Assembly EPC & Primes
Direct supplierDefence & Aerospace is a disclosed segment but minor vs. its core mining-equipment/rail business
Other companies in this layer
Defence Procurement (DAC approvals) › Military vehicles & bridging
OperatorState-controlled maker of Army trucks, recovery vehicles and the Sarvatra mobile bridge; also mining and rail
Other companies in this layer
Revenue and profit
| ₹ Cr | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 4,054 | 4,022 | 4,351 |
| Net profit | 282 | 293 | 141 |
Latest-year revenue ₹4,351 Cr (FY26, company-wide). Wider screens show FY22 onwards.
Strengths · in Defence Procurement (DAC approvals)
- Prime manufacturer of the Sarvatra bridge, re-approved by the DAC on 7 Sep 2026
- High-mobility vehicles and mine layers in the same AoN fit its range
- Diversified across defence, mining and metro rail
Risks · in Defence Procurement (DAC approvals)
- FY26 profit roughly halved and ROE is low
- Defence orders are tender-based and lumpy
- Rail and mining cycles add volatility
Common questions
What does BEML do?
In Defence Procurement (DAC approvals): State-controlled maker of Army trucks, recovery vehicles and the Sarvatra mobile bridge; also mining and rail. NextResearch maps it in 3 supply chains: Defence Procurement (DAC approvals), Railways / Vande Bharat & Metro Rolling Stock and Aerospace Component Manufacturing & MRO.
Where does BEML sit in the supply chain?
BEML (NSE: BEML) is mapped in 3 supply-chain layers: Rolling Stock Integration & Coach Fabrication (Railways / Vande Bharat & Metro Rolling Stock); Systems Integration, Assembly EPC & Primes (Aerospace Component Manufacturing & MRO); and Military vehicles & bridging (Defence Procurement (DAC approvals)).
Who are BEML's peers?
In the Military vehicles & bridging layer of Defence Procurement (DAC approvals): Ashok Leyland, Tata Advanced Systems (not NSE-listed) and Larsen & Toubro.
What is BEML's market cap and valuation?
As of 30 Oct 2026: market cap ₹16,573 Cr, P/E 92.9x, ROCE 7.7%, ROE 4.8%, dividend yield 0.86%.