State-owned BEML Ltd on Friday announced that it has won a significant contract from the Ministry of Defence (MOD) for the supply of High Mobility vehicles. The total contract value is Rs 423.11 crore. “We hereby inform that BEML Limited has bagged an order from MOD for supply of High Mobility vehicles. The total contract value is Rs 423.11 crore,” the company said in a regulatory filing.  

Earlier, the company had posted its fiscal fourth quarter results wherein it reported 18.2 per cent growth in consolidated net profit to Rs 157.7 crore in fourth quarter of FY23 in comparison to Rs 133 crore in the same quarter last year. BEML’s PAT in Q4FY23 more than doubled on-quarter basis. Compared to the December 2022 quarter where PAT stood at Rs 66.30 crore, the growth was around 137.84 per cent. 

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Meanwhile, the company EBITDA climbed by 25 per cent to Rs 287 crore in Q4FY23 as against Rs 229.6 crore in Q4FY22. EBITDA margins expanded sharply to 20.6% in Q4FY23, versus 13.6% in Q4FY22. It had also declared a 50 per cent dividend for its shareholders.

Further, the company’s revenue from operations was at Rs 1,387.94 crore in Q4FY23, down 17.56 per cent from Rs 1,683.58 crore in Q4 of FY22. However, sequentially, the revenue was up 33.85 per cent from Rs 1,036.97 crore in Q3FY23. For the full year FY23, the company’s PAT stood at Rs 157.89 crore as against Rs 128.59 crore.