Karnataka's BEML bags Rs 336 crore export deal from Middle East for heavy equipment

BEML secures new infrastructure equipment deal in Middle East. PIC/BEML

Karnataka government-owned Bharat Earth Movers Limited (BEML) has announced that it has secured an export order worth USD 36.38 million (around Rs 336 crore) from the Middle East. The order is for supplying heavy earth moving equipment, the company said in a regulatory filing on Monday, reported IANS.

The equipment will be used for infrastructure development projects in the region.

Strengthening global order book

With this new contract, BEML said its international order book has increased to USD 106.95 million (around Rs 996 crore), further strengthening its global presence. The company added that the fresh order supports its ongoing push into international markets across multiple infrastructure segments, as per the news agency.

Earlier, on March 18, BEML had received a Letter of Intent for an overseas order worth about USD 60 million from the African region. This order involves the design, manufacture, supply, testing and commissioning of standard gauge metro rolling stock. It was also the company's first international order in the metro segment.

Stock performance after announcement

Following the announcement, BEML shares traded in positive territory. The stock rose nearly 1 per cent during intra-day trade to hit Rs 1,635.80 on the NSE before giving up some gains and closing slightly higher at Rs 1,623.10, up 0.12 per cent.

A market update noted that the stock has fallen 12.44 per cent so far this year and is down 46.34 per cent over the past one year.

Despite strong order wins, the company reported weak financial results in the December 2025 quarter. BEML posted a consolidated loss of Rs 22.38 crore, compared to a profit of Rs 24.41 crore in the same period last year.

On a standalone basis, the company recorded a loss of Rs 23 crore in Q3 FY26, slightly better than the Rs 25 crore loss in the year-ago quarter.

However, revenue increased during the period. Consolidated income rose to Rs 1,087.13 crore from Rs 880.28 crore a year earlier. At the same time, expenses also climbed sharply to Rs 1,112.54 crore from Rs 850.70 crore, which affected profitability.

Corporate update

In a separate development earlier this year, the company informed that Bipin Kumar Gupta ceased to be an Independent Director on the board from February 10 after completing his tenure.

(With IANS Inputs)