From ₹2,346 to ₹4,239: This PSU stock rallies 80% in less than 3 months

Shares of BEML , formerly Bharat Earth Movers Limited, rallied over 14% on Monday as investors cheered its March quarter earnings report, which topped street expectations. The share price of a public sector unit known for manufacturing mining and heavy equipment has zoomed over 80% in less than three months, rebounding strongly from its 52-week low of ₹2,346.35 touched on March 3, 2025.

Continuing its gaining streak for the second straight session, BEML shares gained 14.3% to hit an intraday high of ₹4,246.35 on the BSE today, while its market capitalisation climbed to ₹17,525 crore. Early today, the PSU stock opened marginally higher by 0.8% at ₹3,746.50, extending Friday’s gain of 2.4%.  

At the current level, BEML share price is down 22% from its 52-week high of ₹5,489.15 hit on July 5, 2024. The defence stock has delivered a negative return of 9% in the last one year, while it has risen 4% in the past six months. However, the counter gained momentum in the last three months, with the stock rising over 80% from its 52-week low level, while it added 35% in the just one month amid escalated geopolitical tensions and broad-based rally across defence sector.

BEML shares gained momentum today after the company reported its earnings report post market hours on May 23. For the fourth quarter ended March 31, 2025, the company's consolidated net profit rose 12% year-on-year (YoY) to ₹287.55 crore, from ₹256.8 crore in Q4 FY24. The revenue grew 9% YoY to ₹1,652.5 crore in March quarter of FY25, compared to ₹1,513.6 crore in the year ago period.

On the operating front, EBITDA stood at ₹427 crore as against ₹375 crore in the corresponding period last year, while margin increased to 13.20% compared to 11.98% in the same period of the previous year.

As of March 31, 2025, the order book of the company stood at ₹14,610 crore with an executable order book of ₹4,233 crore for the current year.

For the full financial year 2024-25, BEML clocked a net profit of ₹294 crore, up 4% YoY from ₹283 crore in FY24. The revenue for FY25 marginally dropped to ₹4,022 crore from ₹4,054 crore in the previous fiscal. 

In the last one month, shares of defence companies have risen up to 45% amid heightened investor interest in the backdrop of escalated geopolitical tensions between India and Pakistan post ‘Operation Sindoor’ on May 8. Defence stocks such as ideaForge Technology, Cochin Shipyard, Garden Reach Shipbuilders and Engineers (GRSE), and High Energy Batteries (India) have rallied up to 45% this month, while sectoral heavyweights Hindustan Aeronautics (HAL), Bharat Electronics, Solar Industries India, Mazagoan Dock Shipbuilders, Bharat Dynamics have seen a rally of up to 25%.

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