BMW Ventures Limited has secured its largest fabricated steel products order worth ₹36 crore for a Bharat Heavy Electricals Limited (BHEL) project. The company announced this significant milestone through a regulatory filing and press release under Regulation 30 of the SEBI Listing Regulations.

Strategic Contract Details

The order represents BMW Ventures' entry into large-scale infrastructure projects and forms part of a broader ₹141 crore project opportunity. The company expects to target and execute the balance portion over the next ten to twelve months, marking a structural scale-up in operations.

Order Book Growth and Performance

Following this order, BMW Ventures' consolidated fabricated steel products order book has reached 8,805 tons, representing a 49.00% growth from the previously reported 5,909 tons. The order book progression demonstrates consistent growth momentum across multiple quarters.

Management Outlook and Strategy

Managing Director Nitin Kishorepuria highlighted the company's integrated steel ecosystem advantage, stating that their backward integrated model provides clients with greater pricing comfort and supply reliability in volatile market conditions. The company anticipates strong momentum, supported by traction in pre-engineered buildings and railway steel girders.

Financial Guidance and Future Prospects

BMW Ventures has revised its bottom-line growth guidance for the current year to 30-35%, up from the previous range of 25-30%. Management expects to maintain similar growth trajectory going forward, driven by fabricated steel products emerging as a major margin expansion driver. The company continues to focus on disciplined capital allocation and expansion across infrastructure and construction-linked demand segments.

BMW Ventures Limited has submitted its quarterly monitoring agency report for the period ended December 31, 2025, providing detailed insights into the utilization of proceeds from its Initial Public Offer (IPO). The report, prepared by Crisil Ratings Limited as the monitoring agency, confirms compliance with SEBI regulations and adherence to the disclosed objects of the issue.

IPO Details and Proceeds Structure

The company's IPO was conducted from September 24, 2025, to September 26, 2025, raising gross proceeds of Rs 23,166.00 lakhs. After deducting issue expenses, the net proceeds available for utilization stood at Rs 20,666.70 lakhs.

The issue expenses were revised upward by Rs 696.00 lakhs from the originally estimated Rs 1,803.30 lakhs to Rs 2,499.30 lakhs, resulting in a corresponding reduction in the amount allocated for general corporate purposes from Rs 3,987.70 lakhs to Rs 3,291.70 lakhs.

Utilization Progress During Q3 FY26

During the quarter ended December 31, 2025, BMW Ventures Limited utilized Rs 19,500.00 lakhs of the net proceeds across the stated objects of the issue.

Debt Repayment and Corporate Purposes

The company allocated Rs 17,375.00 lakhs for the repayment of outstanding borrowings, utilizing Rs 17,374.50 lakhs during the quarter. The borrowings targeted for repayment included various arrangements with banks, financial institutions, and other entities in the form of term loans and working capital facilities.

For general corporate purposes, the company utilized Rs 2,125.50 lakhs out of the allocated Rs 3,291.70 lakhs. The utilized amount was specifically deployed for working capital requirements, including the purchase of TMT Bars from Tata Steel Limited. The Board of Directors approved this utilization through a resolution dated February 04, 2026.

Deployment of Unutilized Proceeds

The remaining Rs 1,166.70 lakhs of unutilized proceeds are currently deployed in bank accounts for operational flexibility.

Monitoring Agency Assessment

Crisil Ratings Limited, serving as the monitoring agency under SEBI regulations, confirmed that all utilization was in accordance with the disclosures made in the offer document. The report indicated no deviations from the stated objects of the issue and no material changes in the means of finance for the disclosed objects.

The monitoring agency noted that during the quarter, the company transferred Rs 5,862.61 lakhs from its monitoring account to various cash credit accounts for operational ease, with these transferred proceeds being fully utilized for the intended purposes of debt repayment and general corporate activities.