BEML Limited has submitted its investor information statement to stock exchanges, detailing key financial highlights for the period ended December 31, 2025. The comprehensive disclosure provides insights into the company's order book position, inventory levels, borrowings, and working capital status.

Order Book Performance

The company's order book dynamics during the third quarter showed mixed results. BEML began the quarter with an order book of ₹16,342 crores and secured new orders worth ₹1,053 crores during the period. The company executed orders valued at ₹1,046 crores during the quarter.

Inventory Analysis

BEML's inventory position showed a notable decrease compared to the previous year. Total inventory stood at ₹2,543.37 crores as on December 31, 2025, representing a reduction from ₹2,679.37 crores in the corresponding period of the previous year.

Financial Position Updates

The company's borrowing position increased substantially during the period. Total borrowings reached ₹930.83 crores as on December 31, 2025, compared to ₹641.63 crores in the previous year. The entire borrowing amount consists of cash credit and short-term loans, with no unsecured short-term loans reported.

Working Capital Management

Trade receivables increased to ₹1,796.34 crores from ₹1,479.84 crores in the previous year, indicating higher outstanding amounts from customers. Net working capital decreased marginally to ₹2,764.64 crores from ₹2,829.38 crores, reflecting the company's working capital management during the period.

The investor information statement was signed by Urmi Chaudhury, Company Secretary and Compliance Officer, and submitted to both NSE and BSE on February 6, 2026. This disclosure provides stakeholders with essential financial metrics to assess the company's operational and financial performance during the reported period.

BEML has reported contrasting financial results for the third quarter, with strong revenue growth overshadowed by a dramatic decline in profitability metrics. The defense and heavy equipment manufacturer posted revenue of ₹11 billion compared to ₹8.8 billion in the same quarter of the previous year, representing a substantial 25% increase in top-line performance.

However, the company's operational efficiency deteriorated significantly, with EBITDA plunging to ₹36 million from ₹604 million in the corresponding quarter of the previous year. The company also reported a net loss of ₹227 million for the third quarter, marking a significant reversal from the net profit of ₹248 million recorded in the same period last year.

Financial Performance Overview

The quarterly results highlight the challenges facing BEML despite revenue expansion, with profitability metrics showing severe contraction across key parameters.

EBITDA Performance Analysis

The most striking aspect of BEML's quarterly performance was the sharp deterioration in EBITDA, which collapsed by 94% year-over-year. The EBITDA margin contracted dramatically from 6.9% to just 0.33%, indicating severe operational challenges despite the revenue growth.

Revenue Growth Amid Margin Pressure

While BEML successfully expanded its revenue base by 25%, the company faced significant margin compression. The growth from ₹8.8 billion to ₹11 billion demonstrates strong market demand for the company's defense and heavy equipment products, but operational inefficiencies have severely impacted profitability.

Bottom Line Impact

The combination of reduced EBITDA and operational challenges resulted in a net loss of ₹227 million, representing a total negative swing of ₹475 million from the previous year's profit of ₹248 million. This performance indicates that increased operational costs and expenses have more than offset the benefits of higher sales volumes.