Share price of this small-cap PSU stock jumped by 15.7 percent on BSE to hit an intraday high at Rs. 3,714.3 in the trading session of Monday, after reporting a rise in net profit by 433 percent QoQ and 63 percent YoY.
With a market capitalisation of Rs. 15,323.5 crore, the shares of BEML Limited closed in the green at Rs. 3,679.6, up by 14.6 percent.
The fluctuations in the share prices were observed after the company announced the financial results for Q4 FY23-24 and FY24, through the recent filings with the stock exchanges on Monday.
BEML witnessed a rise in revenue from operations by 9.05 percent YoY from Rs. 1,388 crore in Q4 FY22-23 to Rs. 1,513.65 crore in Q4 FY23-24 and grew by 44.6 percent QoQ from Rs. 1,047 crore in Q3 FY23-24 to Rs. 1,513.65 crore in Q4 FY23-24.
The net profit of the company stood at Rs. 256.8 crore in Q4 FY23-24, increasing by 433 percent QoQ from Rs. 48.2 crore in Q3 FY23-24 and by 63 percent YoY from Rs. 157.7 crore in Q4 FY22-23.
The Board of the company had approved an interim dividend of Rs. 5 per equity share on 8th February, 2024. Further, the Board have recommended a final dividend of Rs. 15.5 per equity share for the year ended 31st March, 2024, aggregating to Rs. 20.5 per equity share.
As on 31st March 2024, the order book stood at Rs. 1,126 crore during Q4 FY23-24, while the company executed orders worth Rs 1,484 during the quarter.
As of March 2024, FIIs hold 9.91 percent of the shares, whereas DIIs hold 17.79 percent of the shares in the company, aggregating to 27.7 percent of the institutional holdings.
The stock has delivered about 160.2 percent of multibagger returns in the last one year and nearly 66.2 percent in the last six months. So far in 2024, it has given around 29.6 percent of positive returns.
Established in 1964, BEML Limited is a Public Sector Undertaking for the manufacture of rail coaches, spare parts and mining equipment. It is a diversified company supplying products, services and support to Defence & Aerospace, Mining & Construction and Rail & Metro for clientele within India and overseas.
Written by Shivani Singh
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