BEML Shares Rise as Company Declares Second Interim Dividend
BEML Rewards Shareholders with Second Interim Dividend
State-owned Bharat Earth Movers Limited (BEML) has announced a second interim dividend of ₹15 per equity share (150%) for the financial year 2024-25. This comes as a welcome boost for shareholders, especially considering the company’s recent financial performance.
The record date for the dividend has been set for May 15, 2025, as stated in an exchange filing by the company on Friday, May 9. This marks the second dividend payment for BEML this fiscal year. In the previous fiscal year, the company declared an equity dividend of ₹35.50 per share.
Mixed Results for BEML in December Quarter
While the dividend announcement is positive news, BEML’s December quarter results showed a dip in net profit and revenue. Net profit nearly halved from the same quarter last year, dropping to ₹24.4 crore from ₹48.2 crore. Revenue also fell by 16.3% to ₹876 crore, compared to ₹1,047 crore in the corresponding quarter of the previous year.
However, there were some bright spots. BEML’s Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) increased by 8% to ₹60.6 crore, and margins expanded to 7%, a significant growth from 5.4% in the previous year. These improvements were largely attributed to lower other expenses and employee benefit expenses.
Share Price Performance
Despite the mixed quarterly results, BEML’s shares have shown some resilience. On Friday, the stock was trading 0.82% higher at ₹3,038.60. However, the stock is down over 26% so far this year.
