BEML Ltd announced on Thursday that it has received an order worth nearly ₹73 crore from Eastern Coalfields Ltd.
In a stock exchange filing, the company said that it has bagged an order, of a contract value of ₹72.71 crore from Eastern Coalfields Ltd for BH100 Rear dumper.
The state-owned heavy equipment maker also informed the stock exchanges that two of its Executive Directors have ceased their roles on account of superannuation, starting February 29, 2024.
The two Executive Directors are Umashankar Devappa, ED of Defence segment, and Pawan Kumar, ED of the Marketing-M&C segment.
The company aims to achieve 20% revenue growth in the current financial year. In an interview with CNBC-TV18 on Tuesday, February 27, the Chairman and Managing Director of BEML, Shantanu Roy said that the company’s orderbook is robust, meaning the focus will now be on execution as well as the fixing of supply chain issues.
The Bengaluru-based company is confident of achieving its target of 20% revenue growth in FY24 despite supply chain challenges, according to Roy.
BEML’s shares have showcased double-digit gains of 13% so far this year, and have surged over 30% in the last three months. The stock has given returns of a whopping 162% to investors in the last one year and nearly 180% in the last three years.
Shares of BEML settled 3.70% lower at ₹3,118 apiece on the NSE at closing.
(Edited by : Ajay Vaishnav)
