Scope Industries (India) Limited
Add to watch list to get report alerts
BSE Code:
531886
NSE Code:
BEML
Business Profile
Business Profile
Bharat Earth Movers (BEML) is a premier ISO 9001-2000 company in India and the second largest manufacturer of earth moving equipment in Asia. BEML has vital applications in diverse sectors of economy such as coal, mining, steel, cement, power, irrigation, construction, road building and railway. It has expanded its product range to cover high-quality hydraulics, heavy-duty diesel engines, welding robots and undertaking of heavy fabrication jobs. It was incorporated by Government of India as a private limited company on May 11, 1964 and went public on Feb. 21, 1992. R.S. Natrajan is the chairman and managing director.
The earthmoving equipment include bulldozers, dump trucks, hydraulic excavators etc. and has recently introduced road headers and side discharge loaders for underground mining applications. Railway products include integral rail coaches, electric multiple units, rail buses etc. BEML manufactures heavy duty trucks and trailers and hydraulic aggregates for the transportation sector. The company plans to diversify into underground mining equipment, underground storage for petro-products, leasing and financial services, and joint ventures abroad. BEML has three manufacturing units in Bangalore, Kolar Gold Fields and Mysore and a subsidiary, Vignyan Industries.
In 2006, BEML received large orders valued at Rs 8,000 million from ministry of defence for various ground-support high-mobility vehicles and orders worth Rs 420 million for supplying mining equipment and spares from CPG, Tunisia and Gecopham, Syria in 2006. More recently, a joint venture company, BEML Midwest, was incorporated jointly with Midwest Granite to carry on mining activity. BEML commands 70% market share in the domestic earthmover industry. It has a nationwide network of 33 marketing offices and exports machines to over 25 countries in Europe, Africa and the Middle East.
The registered office is at BEML Soudha, No. 23/1, 4th Main Road, Sampangiramanagar, Bangalore-560027.
Financials
The company reported a decline in standalone net profit for the quarter ended December 2008. During the quarter, the profit of the company declined 0.84% to Rs 587.40 million from Rs 592.40 million in the same quarter last year. Net sales for the quarter rose marginally 1.72% to Rs 6,328.50 million, while total income for the quarter rose 6.18% to Rs 6,803.30 million, when compared with the prior year period. The company reported earnings of Rs 14.10 a share during the quarter, registering 0.91% decline over prior year period.
Recent Developments
18-MAR-09
The company has signed a memorandum of agreement with NFM Technologies (NFM), France, to manufacture Tunnel Boring Machines (TBMs) in India.
04-MAR-09
The company inked an alliance pact with Indonesia based Sumber Mitra Jaya to bid for upcoming contract mining business.