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Company Description
BEML (formerly Bharat Earth Movers) is a public sector
undertaking manufacturing BEML Limited operates as a
construction equipment company in India and internationally.
The company offers a range of mining machinery for opencast
and underground mines; and produces machines, such as
electric rope shovels, hydraulic excavators, bulldozers, wheel
loaders, wheel dozers, dump trucks, motor graders, pipe layers,
tire handlers, water sprinklers, and backhoe loaders, as well as
mammoth walking draglines for the opencast mines.
BEML’s products are exported to more than 56 countries. As
part of the company’s globalisation strategy, it has expanded
global reach by opening a local company in Indonesia and
Brazil recently in addition to offices in Malaysia and China.
BEML Ltd has lately announced its entry into dredging starting
with a technology tie-up with a Netherlands company, Vosta
LMG. The new stream of business would generate for BEML an
additional Rs 220 crore in revenue in the next two years.
As of date, BEML's combined order book position stands at Rs
4712 crore, which is 1.79 times its consolidated net sales of Rs
2802.62 crore for the year ended March 2011, giving strong
revenue visibility.
Rising allocation of defence and railways in government
expenditure plans will buoy BEML's order book. Realising this
trend, the company has expanded capacities, launched new
products and entered in technological tie -ups. Launch of metro
train services in new Tier-I and Tier-II cities have the potential to
pace business growth. BEML has expanded its capacity to
garner more orders.
The company has cash and cash equivalents of ~Rs. 280crs
with low debt/equity ratio of 0.41x for the FY11.
BEML came up with decent set of results for Q2FY12. PAT
reported was Rs. 15.3crs v/s 14.7crs y-o-y. Top line was Rs
792crs v/s Rs. 509crs y-o-y basis. At present valuations it is
quoting at a 5 years lowest PE multiple.
Technical Comments
Stock has made positive Island reversal where 8-12% target in 1-60days can be possible in the stock. Stock
Gapped-down(506-501) on 18/10/2011 and today gapped-up(497-498) and if the stock holds Rs.495 on downside
then 575 on higher side can be possible.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Company Description
BEML (formerly Bharat Earth Movers) is a public sector
undertaking manufacturing BEML Limited operates as a
construction equipment company in India and internationally.
The company offers a range of mining machinery for opencast
and underground mines; and produces machines, such as
electric rope shovels, hydraulic excavators, bulldozers, wheel
loaders, wheel dozers, dump trucks, motor graders, pipe layers,
tire handlers, water sprinklers, and backhoe loaders, as well as
mammoth walking draglines for the opencast mines.
BEML’s products are exported to more than 56 countries. As
part of the company’s globalisation strategy, it has expanded
global reach by opening a local company in Indonesia and
Brazil recently in addition to offices in Malaysia and China.
BEML Ltd has lately announced its entry into dredging starting
with a technology tie-up with a Netherlands company, Vosta
LMG. The new stream of business would generate for BEML an
additional Rs 220 crore in revenue in the next two years.
As of date, BEML's combined order book position stands at Rs
4712 crore, which is 1.79 times its consolidated net sales of Rs
2802.62 crore for the year ended March 2011, giving strong
revenue visibility.
Rising allocation of defence and railways in government
expenditure plans will buoy BEML's order book. Realising this
trend, the company has expanded capacities, launched new
products and entered in technological tie -ups. Launch of metro
train services in new Tier-I and Tier-II cities have the potential to
pace business growth. BEML has expanded its capacity to
garner more orders.
The company has cash and cash equivalents of ~Rs. 280crs
with low debt/equity ratio of 0.41x for the FY11.
BEML came up with decent set of results for Q2FY12. PAT
reported was Rs. 15.3crs v/s 14.7crs y-o-y. Top line was Rs
792crs v/s Rs. 509crs y-o-y basis. At present valuations it is
quoting at a 5 years lowest PE multiple.
Technical Comments
Stock has made positive Island reversal where 8-12% target in 1-60days can be possible in the stock. Stock
Gapped-down(506-501) on 18/10/2011 and today gapped-up(497-498) and if the stock holds Rs.495 on downside
then 575 on higher side can be possible.
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