BEML's standalone net profit dropped 14.16% to Rs 159.94 crore on 66.33% increase in net sales to Rs 1,773.81 crore in Q4 March 2021 over Q4 March 2020.
Profit before tax soared 25.30% to Rs 177.95 crore in Q4 FY21 as against Rs 142.01 crore in Q4 FY20.During the financial year, BEML's net profit climbed 9.39% to Rs 74.80 crore on 17.45% rise in revenue from operations to Rs 3,557.21 crore in FY 2021 over FY 2020.
The board has recommended a final dividend of Rs 1.20 per equity share for the year ended 31 March 2021.
Meanwhile, the Ministry of Defence (MoD) has informed that the Department of Investment and Public Asset Management (DIPAM) and NITI Aayog have concurred to the proposal of incorporation of wholly-owned subsidiary (WoS) of BEML for demerger of surplus land and asset as part of BEML's strategic divestment process undertaken by Government of India (GoI).
BEML is a multi-technology schedule 'A' company under the Ministry of Defence. The company operates in three verticals viz. defence & aerospace, mining & construction and rail & metro. As on 31 March 2021, the Government of India held 54.03% stake in BEML.
Shares of BEML advanced 2.20% to Rs 1,356 on BSE.
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