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BEML had won a sizable contract from the Ministry of Defence (MOD) earlier this month for the supply of High Mobility vehicles. The contract was for a total of Rs 4.23 billion.

The company reported 18.2% improvement in consolidated net profit to Rs 1.57 billion in the fourth quarter of FY23 compared to Rs 1.33 billion in the same quarter last year when it released its fiscal fourth quarter results in May. PAT for BEML more than doubled quarter over quarter in Q4FY23. The growth was over 137.84% when compared to the December 2022 quarter, when PAT was Rs 660 billion.

While this was going on, the company's EBITDA increased by 25% to Rs 2.87 billion in Q4FY23 from Rs 2.29 billion in Q4FY22. EBITDA margins increased significantly from 13.6% in Q4FY22 to 20.6% in Q4FY23. Additionally, a 50% dividend for its stockholders had been declared.

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