BEML trims FY24 order book forecast to ₹14,000 crore

Bengaluru-based BEML has trimmed the order book guidance for the current financial year to ₹14,000 crore from ₹17,000 crore as some orders have been deferred, said Chairman and Managing Director, Shantanu Roy.

Roy explained that there have been delays in the finalisation of tenders for the metro project, and those are now expected to conclude in the last quarter of the financial year.

The company is Asia's second-largest manufacturer of earth-moving equipment with a market capitalisation of ₹10,245.8 crore.

Roy said mining is poised to persist as the most substantial revenue contributor to the company's topline. In the first half of the fiscal yea, mining contributed 43% to the business, the rail sector contributed another 43%, while defence accounted for the balance.