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BEML Received Additional Orders Worth Rs 834 cr for Mumbai Metro Project || infrabuddy.com

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BEML Received Additional Orders Worth Rs 834 cr for Mumbai Metro Project

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BEML has bagged new orders for Metro Coaches from Delhi Metro Rail Corporation (DMRC) for MMRDA Mumbai line 2&7 for additional 21 trainsets (126 Nos.) valued Rs 834 crore approx.

BEML Received Additional Orders Worth Rs 834 cr for Mumbai Metro Project

BEML has bagged new orders for Metro Coaches from Delhi Metro Rail Corporation (DMRC) for MMRDA Mumbai line 2&7 for additional 21 trainsets (126 Nos.) valued Rs 834 crore approx. The orders received from DMRC is for the supply of 378 metro coaches (63 metro trains) worth  Rs.3015 crore.

Metro rail orders put BEML on the growth track where the company has received additional orders worth Rs 834 cr for the Mumbai Metro project. BEML is targeting revenue of ₹4,200 crore in the current fiscal, implying growth of about 20%. BEML expects to receive substantial orders from metro networks in Delhi and Mumbai. The company held investors and analysts meeting where BEML is targeting revenue of ₹4,200 crores in the current fiscal, implying growth of about 20%. That will be a notable acceleration from the previous fiscal when revenue growth was a somber 5%. The commentary comes amid reports that the government is firming up plans for the sale of shares in the company along with several other public sector undertakings. However, the quantum and the price at which the government intends to sell shares is not known yet.

The government is firming up plans for the sale of shares in the company along with several other public sector undertakings. However, the quantum and the price at which the government intends to sell shares is not known yet. Realizations from metro coaches have dropped one-third over the years, indicating competitive intensity. The rail and metro businesses also have a high import content of 40%, making it susceptible to cost pressures. According to Antique Stock Broking Ltd, BEML has the capacity to manufacture 365 metro coaches in two shifts per annum vis-à-vis the order book of 580 units of metro coaches.

With volumes in the metro rail business seeing an uptick and the company rationalizing its employee base (and, thereby, costs), the expectation is that margins will improve from hereon, helping earnings. “The company expects to drive margin expansion through operating leverage along with specific cost-cutting measures," analysts at Antique Stock Broking said in a note. The margin trajectory and the nature of government share sale (strategic or a mere stake sale) will play a determining role in the stock returns.

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