December 03, 2008
BEML turnover in 2007-08 up by 15.5% YoY
Bharat Earth Movers Limited has achieved a turnover of INR 3005 crore with 15.5% YoY growth and with profit before tax of INR 350 crore with 11% YoY growth compared to last year. The order book as of year end stands at INR 3795 crore. During the year it has achieved export sales of INR 257.72 crore as compared to INR 110 crore in the previous year, an increase of 132% YoY.
Some of the highlights of BEML’s performance in the years are
a) Rail unit II at KGF was inaugurated and commenced commercial production of Rail coaches on October 9th 2007 and employed only ex employees and dependents of closed BGML, KGF.
b) BEML JV BEML Midwest Limited head quartered at Hyderabad for contract mining business was inaugurated and commenced its operation.
c) Raised INR 526 crore through follow on public issue.
d) Company wide ERP was implemented with effect from October 1st 2007.
e) Commissioned 5 MW wind mill farm, which will produce 13.2 million units per annum.
f) Opened global ware house at Malaysia and China.
BEML has a vision to achieve INR 5000 crore turnover by the year 2013-14, Golden Jubilee year of the company by expansion and diversification through
1) High capacity dumpers
2) 20 cubic meter rope shovel
3) Metro coaches for broad gauge and standard gauge
4) Stainless steel EMUs
5) Airport link high speed trains
6) Bogies for high speed trains
With sustainable potential for business growth in all business segments in particular mining & construction and rail & metro, BEML is poised to achieve 18% YoY to 20% YoY growth.
BEML is a Mini Ratna category I company under the union ministry of defense. The equity capital of BEML is INR 41.77 crore, with 54% held by centre and the balance by financial institutions, public and employees. BEML has its manufacturing plants at Kolar Gold Fields, Bangalore, Mysore and a Subsidiary steel foundry at Tarikere. The total employee strength of BEML as on date is 12318. The business areas of BEML include
1) Mining and Construction
2) Defense
3) Rail & Metro
4) Technology division or e engineering solutions
5) Trading division.
