BEML

** Shares of India's defence companies .NIFTYINDDEFENCE up 2.2%

** Bharat Electronics BAJE.NS, Hindustan Aeronautics HIAE.NS rise 2.4% and 3.5%, respectively

** Paras Defence PRAF.NS, BEML BEML.NS and Data Patterns DATP.NS jump 4.2%-5.5%

** India's defence acquisition council (DAC) clears capital acquisition proposals worth 1.1 trillion rupees ($11.64 billion) for defence forces

** Goldman Sachs says proposals focused on surveillance, counter-measures and deterrence platforms rather than large, traditional and expensive platforms, which will improve participation of private players

** Clearance of advanced light helicopters and proposals to enhance fighter jet capabilities are positive for HIAE, approvals for ground-based jammers positive for BAJE, says JM Financial

** "These approvals strengthen medium-to-long term order visibility for Indian defence manufacturers, with the high domestic sourcing component providing opportunities across platforms, electronics and critical systems," says ICICI Securities

** YTD, defence index up 28.6%

(Reporting by Vivek Kumar M)

(([email protected];))

BEML secured an additional ₹180.60 crore order from Integral Coach Factory to manufacture and supply Vande Bharat sleeper trainsets. The order was described as being in the normal course of business. Rail and Metro accounted for 65% of BEML's ₹16,285 crore order book at June 30, with ₹5,312 crore classified as executable in FY27. Revenue from operations was ₹4,351 crore in FY26, while first-quarter FY27 revenue rose 29% year on year to ₹819.62 crore.

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** Shares of heavy machinery and vehicles manufacturer BEML BEML.NS rise 1.2% to 1,994.4 rupees

** Co receives an additional order worth 1.81 billion rupees ($19.06 million) to manufacture and supply trainsets

** BEML trades at forward 12-month PE of 32.06 vs industry median of 35.98 - data compiled by LSEG

** All four brokerages covering the stock rate it "buy" or higher; their median PT is 2,266 rupees

** YTD, stock up 7.1%

($1 = 94.9600 Indian rupees)

(Reporting by Abhinav Parmar in Bengaluru)

(([email protected];))

By Nikunj Ohri and Sarita Chaganti Singh

NEW DELHI, Aug 21 (Reuters) - India is set to approve a $1.2-billion incentive scheme for the making of high-value, technologically sophisticated construction and infrastructure equipment, two government sources said, in a bid to reduce dependence on China for critical machinery.

The scheme, which is expected to be finalised soon, aims to draw $1.8 billion in fresh investment by offering incentives over seven years to domestic manufacturers of equipment including tunnel boring machines, fire-fighting equipment and elevators used in high-rise buildings, one of two the sources said.

India remains heavily dependent on imported tunnel boring machines, with China among the key suppliers of tunnelling and other boring equipment used in metro rail and highway construction, underscoring the country's long-standing struggle to build domestic manufacturing capacity.

The government of Prime Minister Narendra Modi is making a renewed push to reduce reliance on key imports even as previous attempts to boost domestic manufacturing have failed to make a dent.

The new scheme has been designed after assessing the incentives required to make local production viable against the country's existing import dependence, the sources said.

The incentive plan could benefit state-run BEML BEML.NS, which has plans to domestically manufacture tunnel boring machines, along with other equipment makers including Larsen and Toubro LART.NS and Johnson Lifts.

The plan would also include targets for local value addition for machines that are presently fully imported.

A final decision on the incentive plan is expected soon, both the sources said. India's federal heavy industries ministry and finance ministry did not respond to a request for comment.

India's construction and infrastructure equipment market, valued at 1 trillion rupees ($10.5 billion), is set to expand as the country accelerates spending on roads, metros, airports and other infrastructure.

CHINESE DEPENDENCE

Following the 2020 deadly border clashes between Indian and Chinese troops, New Delhi had imposed restrictions on investments and public procurement from Beijing.

In 2024, China gradually imposed restrictions on exports of tunnel boring machines by delaying customs clearances for shipments to India.

Imports of tunneling machinery from China dropped to $3 million in 2023-24 from $18 million a year earlier. They fell further to $500,000 in 2024-25, and were $800,000 in 2025-26.

The issue of easing restrictions on tunnel boring machines also figured in bilateral talks between the two countries last year.

In 2026, India eased restrictions on investments made by Chinese companies and gradually allowed Chinese firms to participate in government contracts.

The incentive plan aims to address the gap where India does not have sufficient manufacturing capability and has high import dependency, the first source said.

($1 = 95.6800 Indian rupees)

(Reporting by Nikunj Ohri and Sarita Chaganti Singh; Editing by Lincoln Feast.)

(([email protected]; +91 90284 60730; Reuters Messaging: twitter.com/nikunj_ohri))

BEML appointed Promila Kundara, Shankar Lal Agrawal and Karunakaran Nambiar K as independent directors on its board after the President of India issued the appointments on 18 August 2026. The company said it would provide their DINs and other required details to the exchanges after receiving them from the appointees. BEML had been without independent directors since December 2024, while its Q1 FY27 results were approved without an Audit Committee review. The defence and rail-and-mining equipment maker reported FY26 revenue of ₹4,351 crore and an order book of ₹16,285 crore at 30 June.

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BEML secured a ₹184.25 crore order from Hindustan Aeronautics Limited to manufacture and supply fuselage aerostructures for Light Combat Helicopters. The company said the award was received in the normal course of business. Defence contributed about ₹1,500 crore to BEML's FY26 revenue, compared with roughly ₹1,000 crore a year earlier. Its order book stood at ₹16,285 crore on June 30, including ₹5,312 crore executable in FY27.

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Aug 11 (Reuters) - BEML Ltd BEML.NS:

• BEML - SECURED SIGNIFICANT ORDER WORTH 1.84 BILLION RUPEES FROM HINDUSTAN AERONAUTICS

• BEML - ORDER FOR SUPPLY OF LIGHT COMBAT HELICOPTER FUSELAGE AEROSTRUCTURES

Source text: ID:nnAZN4TDALL

Further company coverage: BEML.NS

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May 29 (Reuters) - BEML Ltd BEML.NS:

• BEML - DECLARES 2ND INTERIM DIVIDEND OF 2.30 RUPEES AND FINAL DIVIDEND OF 0.55 RUPEE PER SHARE

• BEML MARCH-QUARTER CONSOL PROFIT 1.8 BILLION RUPEES

• BEML MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 17.94 BILLION RUPEES

Source text: ID:nNSE9JtZLf

Further company coverage: BEML.NS

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Corrects company names, RICs in paragraph 2

NEW DELHI, May 27 (Reuters) - India has sought initial proposals to manufacture a fifth generation combat aircraft from three short-listed bidders, news agency ANI reported on Wednesday citing defence officials.

The bidders are Larsen and Toubro LART.NS-Bharat Electronics BAJE.NS, Tata Advanced Systems, and Bharat Forge BFRG.NS-BEML BEML.NS, it said, all of them Indian companies.

(Reporting by Hritam Mukherjee; Editing by YP Rajesh)

(([email protected]; @MukherjeeHritam;))

May 8 (Reuters) - BEML Ltd BEML.NS:

• BEML LTD- EXTENDED ADDITIONAL CHARGE OF SHANTANU ROY AS CHAIRMAN MD ON BOARD OF BEML LAND ASSETS LIMITED (BLAL) FOR A PERIOD OF ONE YEAR

Source text: [ID:]

Further company coverage: BEML.NS

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** Shares of BEML BEML.NS rise as much as 8% to 1,910 rupees, its highest since Jan. 5, last up 5.4%

** Construction vehicles maker bags order worth 5.9 billion rupees ($62.96 million) from the Ministry of Defence for supply of Trawl Assemblies

** BEML almost flat YTD

($1 = 93.7075 Indian rupees)

(Reporting by Brijesh Patel in Bengaluru)

(([email protected]; Ph no. +91 9590227221;))

April 21 (Reuters) - BEML Ltd BEML.NS:

• GOT ORDER WORTH 5.9 BILLION RUPEES

Source text: [ID:]

Further company coverage: BEML.NS

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April 13 (Reuters) - BEML Ltd BEML.NS:

• BEML LTD - SECURES USD 36.38 MILLION EXPORT ORDER FROM MIDDLE EAST

Source text: ID:nNSE7SlTXx

Further company coverage: BEML.NS

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April 9 (Reuters) - BEML Ltd BEML.NS:

• BEML LTD - CO AND DELHI METRO RAIL CORPORATION TO JOINTLY BID FOR RAIL AND METRO PROJECTS

Source text: ID:nNSEbtsLGG

Further company coverage: BEML.NS

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March 18 (Reuters) - BEML Ltd BEML.NS:

• BEML LTD - GETS ORDER WORTH USD 60 MILLION

Source text: ID:nnAZN4SLVGV

Further company coverage: BEML.NS

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Feb 6 (Reuters) - BEML Ltd BEML.NS:

• BEML LTD DEC-QUARTER CONSOL LOSS 223.8 MILLION RUPEES

• BEML LTD DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 10.83 BILLION RUPEES

• BEML LTD - DECLARES INTERIM DIVIDEND OF 2 RUPEES PER SHARE

Source text: [ID:]

Further company coverage: BEML.NS

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Dec 16 (Reuters) - BEML Ltd BEML.NS:

• SECURES 1.10 BILLION RUPEES ORDER FROM MINISTRY OF DEFENCE

Source text: ID:nBSE4J0JJW

Further company coverage: BEML.NS

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Dec 5 (Reuters) - BEML Ltd BEML.NS:

• BEML LTD - SIGNS MOU WITH HD KOREA AND HYUNDAI SAMHO FOR MARITIME CRANES

Source text: ID:nNSE94XF7T

Further company coverage: BEML.NS

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Dec 4 (Reuters) - BEML Ltd BEML.NS:

• SECURES ORDER VALUED AT 1.57 BILLION RUPEES

Source text: ID:nBSE47pPqB

Further company coverage: BEML.NS

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Nov 14 (Reuters) - BEML BEML.NS:

• ENTERS MOU WITH APMB, DMRC, AND UTIPL

• MOU FOR REAL TIME AUTOMATIC CARGO EVACUATION SYSTEM

Source text: ID:nBSE93wrsk

Further company coverage: BEML.NS

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Oct 16 (Reuters) - BEML Ltd BEML.NS:

• BEML LTD - CO, KINECO SIGN MOU FOR AEROSPACE AND DEFENCE COLLABORATION

Source text: ID:nNSE5dxpcC

Further company coverage: BEML.NS

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Aug 11 (Reuters) - India's state-owned BEML BEML.NS reported a narrower first-quarter loss on Monday, helped by better order execution and a surge in non-operating income.

The heavy equipment manufacturer reported a loss of 641.1 million rupees ($7.3 million) in the April-June period, compared to a loss of 704.7 million rupees in the year-ago quarter.

India's manufacturing sector activity INPMI=ECI hit a 10-month-high in April and a 14-month-high in June, led by a surge in exports.

The Bengaluru-based firm's revenue was largely unchanged at 6.34 billion rupees, but its non-operating income, usually income from investments, surged 16-fold to 85.7 million rupees.

BEML is known for its mainstay railway business, which makes India's Vande Bharat express trains as well as metro rail coaches. Last year, however, the business reported lower revenue due to weak execution of past orders.

The company's Managing Director, Shantanu Roy, told CNBC-TV18 in May that he expects the business to scale up in the current year on improved order executions and also form the bulk of new contracts, which are expected to take the company's order book to 220 billion rupees from about 146 billion rupees in fiscal 2025.

BEML is also targeting a 150-basis-point improvement in its earnings before interest, taxes, depreciation and amortisation (EBITDA) margin to about 14.5% in fiscal 2026.

Expenses were flat for BEML, which also makes missile launch vehicles, with raw material and employee costs inching marginally lower.

($1 = 87.6170 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru)

(([email protected]; Mobile: +91 9591011727;))

Aug 4 (Reuters) - BEML Ltd BEML.NS:

• GOT CONTRACT VALUED ABOUT 2.82 BILLION RUPEES

Source text: ID:nBSE1tVYSH

Further company coverage: BEML.NS

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July 25 (Reuters) - BEML Ltd BEML.NS:

• BEML LTD - CO, HINDUSTAN SHIPYARD SIGN MOU FOR MARINE SYSTEMS

Source text: ID:nBSE3ftgPT

Further company coverage: BEML.NS

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July 23 (Reuters) - BEML Ltd BEML.NS:

• BEML LTD - BAGGED ORDER WORTH 2.94 BILLION RUPEES

Source text: [ID:]

Further company coverage: BEML.NS

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July 21 (Reuters) - BEML Ltd BEML.NS:

• BEML LTD - SUB-DIVISION OF 1 SHARE INTO 2 SHARES

Source text: [ID:]

Further company coverage: BEML.NS

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July 11 (Reuters) - BEML Ltd BEML.NS:

• BOARD TO DISCUSS EQUITY SHARE SPLIT

Source text: ID:nBSE6pvmDF

Further company coverage: BEML.NS

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** Shares of BEML BEML.NS rise 1.6% to 4,598 rupees, set to gain for third straight session

** Construction vehicles maker bags two export orders worth $6.23 Mln

** First order from Commonwealth of Independent States region to supply heavy duty bulldozers and second order from Uzbekistan to Supply high performance motor grader

** BEML up ~13% YTD

(Reporting by Vijay Malkar)

(([email protected];))

July 4 (Reuters) - BEML Ltd BEML.NS:

• GETS CONTRACT WORTH $6.23 MILLION

Source text: ID:nBSE7HTWjk

Further company coverage: BEML.NS

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** Shares of BEML BEML.NS rise 2.3% to 4470.90 rupees

** NDTV Profit reports the state-owned railways and defence engineering firm is in the race to secure the Mumbai suburban rail network upgrade project

** Report says Mumbai Railway Vikas Corporation is set to re-invite tender for a revamp of Mumbai local trains, citing a senior industry executive

** BEML did not immediately respond to a Reuters email seeking comment

** BEML shares are up 7.6% in 2025 so far, outperforming the 2% drop in small-cap index .NIFSMCP100

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))