BEML said in an exchange filing that it has won an order worth ₹2,501 crore from the Chennai Metro.
The scope of the order includes design, manufacturing, supply, testing, commissioning, training of personnel and comprehensive maintenance contract of 15 years of standard gauge metro rolling stock.
In an interaction with CNBC-TV18 on November 13, Shantanu Roy of BEML had said that he sticks to the 100 basis points EBITDA margin expansion guidance for the current financial year.
BEML not disclose what is the state of its order book positions post this order win, although Roy, in his interaction on November 13 had mentioned that order book will grow at 30% from current levels.
The management also stuck to its 20% revenue growth guidance for the current financial year, where half the revenue will come from the railways business, 30% by metro and 20% will come from the mining business. Roy also added that order inflow for the second half will grow by 65%.
Only four analysts have coverage on BEML, of which three of them have a “buy” recommendation, while one has a “hold” rating.
Shares of BEML are trading 2.7% higher at ₹4,303.6. The stock is down 22% from its recent peak of ₹5,488. Despite this correction, shares of BEML are still up 51% so far in 2024.
