Rs 15.50 Dividend: Defence PSU Gains 29.92% In 6-Days On Order Win, Rally In Net; PL Says Accumulate

Defence sector public sector undertaking BEML Ltd. shares are unstoppable and witnessing sharp rally ever since it announced its quarterly results. BEML Ltd. shares surged 29.92% in just last 1-week only. Current market price of BEML share price on BSE is Rs 4170 per share. Prabhudas Lilladher has issued accumulate call on BEML shares with target price of Rs 4004. Board of BEML recommended a final dividend of Rs 15.50 per share and yet to fix the record date for the same.

BEML share offered eye-catching returns of 189% in last 1-year only. BEML shares on May 18 traded fresh 52-week high after the PSU bagged new order on May 17. More details below:

BEML Ltd Dividend: The PSU on May 12 declared a final dividend of Rs.15.50 per equity share (i.e.155 % of paid-up share capital) and yet to announce the record date.

BEML Q4 Performance: BEML declared its consolidated profit for the quarter ended March 31, 2024 at Rs 256.8 crore, up 62.85% year-on-year (YoY) as compared to Rs 157.69 crore declared in the corresponding quarter of last year. The Defence firm declared its consolidated revenue from operations at Rs 1513.65 crore for March 2024 quarter, up 9.05% as against Rs 1387.9 crore announced in the corresponding quarter of last year. It declared its total income at Rs 1518.2 crore for the quarter ended March 2024 as compared to Rs 1406.9 crore in the similar quarter of last year. The total expenses for March 2024 quarter announced at Rs 1170.6 crore from Rs 1129.3 crore in March 2023. EPS of BEL declared at 61.66 for March 2024 quarter from 37.87 in March 2023.

BEML Wins New Order: The defence company informed the exchange as on May 17, 2024 about its latest order win. It bagged order from M/s. Northern Coal Fields Limited for dump trucks contract worth Rs. 250 Crores.

BEML Shareholding: FII/FPI have increased holdings from 9.12% to 9.91% in March 2024 quarter. Number of FII/FPI investors increased from 160 to 185 in March 2024 quarter. Mutual Funds have decreased holdings from 17.26% to 16.34% in March 2024 quarter, according to Trendlyne.

BEML Dividend History: BEML Ltd. announced 33 dividends since August 30, 2001. In last 1-year, BEML Ltd. announced an equity dividend amounting to Rs 10.00 per share. At the current share price of Rs 4170.7000, BEML Ltd. offers dividend yield of 0.24%.

BEML Share Performance: The 52-week high price of BEML Ltd share on BSE 4195.40 apiece (as on 18/05/2024) and 52-week low price is Rs 1400.00 per share (as on 26/05/2023). Its market capitalisation stood at Rs 17,367.01 crore. BEML shares rallied 47% year-to-date, zoomed 81% in last 6-months, offered return of 240% in last 2-years and jumped 496% in last 5-years. The defence stock witnessed highest share rally in last 10-years at 969%.

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. 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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