Bharat Earth Movers Ltd (BEML), a PSU that manufactures heavy equipment, considers the rail, metro, and defence segments as sunrise sectors for the company. According to Shantanu Roy, CMD of BEML, these sectors are projected to collectively contribute 60–65 per cent of the company’s revenue within the next two years.

Explaining the segment contribution, Roy noted, “In FY23, rail contributed 27 per cent and defence 23 per cent. In FY24, mining contributed 43 per cent, rail 38 per cent, and defence 19 per cent.”

However, the contribution mix is expected to shift as the company expects to receive more orders from other segments. “In the long run, rail, metro, and defence will drive the company’s growth, while mining will continue to provide a stable baseline,” he remarked.

To support this growth, the company plans to increase investments in resources, human capital, and capital expenditure.

Currently, the PSU’s order book stands at ₹12,000 crore, and it anticipates to secure additional orders from the rail, metro, and mining sectors. “By the end of FY25, we aim to close the year with an order book of around ₹18,000 crore,” Roy told businessline.

Recently, the PSU secured a contract from the Integral Coach Factory (ICF) to design and manufacture two indigenous bullet trains. Prior to this, it signed an MoU with the Indian Navy to develop advanced marine applications for defence. Additionally, the company won contracts to produce 70 driverless trains for Chennai Metro.

Besides, BEML is working on several export orders. “We are working on export orders across the metro, rolling stock, and mining segments. If the metro orders materialise, they could exceed ₹1,000 crore. For mining, it will be a combination of three to four orders, amounting to ₹700–800 crore,” Roy stated.

For the quarter that ended on September 30, BEML reported a 0.75 per cent decline in consolidated profit, which stood at ₹51.03 crore in Q2 FY25, compared to ₹51.78 crore in the same period last year. Revenue from operations was ₹860 crore, reflecting a 6.2 per cent decrease after four consecutive quarters of growth.

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