BEML has signed a strategic Memorandum of Understanding (MoU) today with the Directorate of Marine Engineering, Indian Navy. This landmark agreement is a pivotal step in enhancing bilateral cooperation for the Indigenous Design, Development, Manufacture, Testing, and Product Support of critical Marine Equipment and systems. Aligned with the Government of India`s Aatmanirbhar Bharat initiative, the partnership aims to strengthen self-reliance in defence production and minimize reliance on foreign imports.The equipment covered under this MoU will leverage BEML`s inherent strengths in heavy engineering, structural fabrication, hydraulics, diesel engines, manufacturing, testing, and R&D to bolster India`s maritime assets. BEML is committed to providing cost-effective, reliable, and enduring solutions to the Indian Navy, in alignment with the Government of India`s Aatmanirbhar Bharat initiative. The collaboration between BEML and the Indian Navy is set to significantly enhance indigenous marine engineering capabilities, ensuring that both current and future naval projects are equipped with state-of-the-art, domestically produced technology. This strategic alliance is focused on meeting immediate operational requirements while also fortifying long-term defence infrastructure. Powered by Capital Market - Live News

BEML has entered into a Memorandum of Understanding (MoU) with Malaysia`s largest rolling stock manufacturer, SMH Rail. This landmark agreement was formalized in the presence of Tengku Zafrul B Tengku Abdul Aziz - Minister of International Trade and Industry, Malaysia during an event in Delhi. This strategic partnership marks a historic collaboration between India and Malaysia, aiming to strengthen bilateral relations and address the growing global demand for advanced rail and metro rolling stock. Together, BEML and SMH Rail will focus on marketing, supply, and servicing of rail and metro rolling stock products, with a particular emphasis on markets in Malaysia, Southeast Asia, and Africa. Under this MoU, BEML and SMH Rail will pool their resources to enhance capabilities in marketing, manufacturing, and maintenance, repair, and overhaul (MRO) services. The collaboration will also involve the joint design, engineering, manufacturing, and integration of rolling stock, tailored to meet client-specific requirements. Additionally, both companies will excel in sourcing rolling stock aggregates and subsystems, formulating winning strategies, and exchanging technology on a mutual basis. Powered by Capital Market - Live News

Net Loss of BEML reported to Rs 70.47 crore in the quarter ended June 2024 as against net loss of Rs 75.01 crore during the previous quarter ended June 2023. Sales rose 9.91% to Rs 634.08 crore in the quarter ended June 2024 as against Rs 576.91 crore during the previous quarter ended June 2023. ParticularsQuarter EndedJun. 2024Jun. 2023% Var. Sales634.08576.91 10 OPM %-7.91-8.76 - PBDT-58.53-59.36 1 PBT-75.38-75.01 0 NP-70.47-75.01 6 Powered by Capital Market - Live News

BEML has received revision in credit ratings from CARE Edge as under:Long term Bank Facilities (Rs 1500 crore) - CARE AA-;Stable (revised from CARE A+; Stable)Long term and Short term Bank Facilities (Rs 4,000 crore) - CARE AA-; Stable / CARE A1+ (revised from CARE A+; Stable / CARE A1+)Powered by Capital Market - Live News

BEML will hold a meeting of the Board of Directors of the Company on 5 August 2024.Powered by Capital Market - Live News