BEML tumbles after weak Q1FY17

BEML has declared its Q1FY17 results on Wednesday after market hours. The company’s revenue has declined by almost half to Rs 295 crore in Q1FY17 as compared to same period in previous financial year. Its EBITDA loss has widened to Rs 87.76 crore in Q1FY17 from EBITDA loss of Rs 50.34 crore in Q1FY16. BEML has posted net loss Rs 115 crore in Q1FY17 against net loss of Rs 74 crore in Q1FY16.

The share price of BEML has declined by 12.27 per cent on bourses in early trades; and is trading at Rs 923.1 on an intraday basis.

BEML is engaged in manufacture of rail coaches and spare parts and mining equipment. Its segments include Mining & Construction, Rail & Metro and Defence. It manufactures and supplies Defence Ground Support Equipment such as Tatra based High Mobility Trucks, Recovery Vehicles, Bridge Systems, Vehicles for Missile Projects, Tank Transportation Trailers, Milrail Wagons, Mine Ploughs, Crash Fire Tenders, Snow Cutters, Aircraft Towing tractors and Aircraft Weapon Loading Trolleys.