BEML Ltd — Investor Presentation 2025

Dec 12, 2025

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Ref: CS/SE/713 Date: 12.12.2025

National Stock Exchange of India Ltd. The BSE Limited Listing Compliance Department Listing Compliance Department Exchange Plaza, Bandra - Kurla Complex, P.J. Towers, 26[th] Floor, Bandra (East), Dalal Street, MUMBAI – 400 051 MUMBAI – 400 001 Symbol: BEML Scrip Code: 500048

Dear Sir / Madam,

Sub: Presentation & Audio recording of Analysts / Investors meet - under Regulation 30 of SEBI (LODR) Regulations 2015 – Reg.

Ref: Our letter CS/SEs/ 712 dated 09.12.2025.

Please find enclosed herewith a copy of Presentation made at the Investors Analyst Meet hosted by Elara Capital on Friday the 12[th] December, 2025 from 09:30 Hours, at Mumbai.

Please find below, the link of audio recordings of the discussion held at the abovementioned meeting:

• https://www.bemlindia.in/wp content/uploads/2025/12/audiorecording_investormeet121225.mp3

Thanking you.

For BEML LIMITED Digitally signed by URMI URMI CHAUDHURY CHAUDHURY Date: 2025.12.12 17:15:52 +05'30' Urmi Chaudhury Company Secretary & Compliance officer ICSI Mem No.: 29400

Place: Bengaluru

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ಪ್ರಧಾನಕಚೇರಿCorporate Office:

’ ’, ೨೩ / ೧ , , , ಬೆಂಗಳೂರು - ೫೬೦೦೨೭ . ಖ : + ೯೧೮೦೨೨೨೨೩೦೬೫ ಬೆಮೆಲ್ಸೌಧ ೪ನೆೇಮುಖ್ಯರಸ್ೆೆ ಸಂಪಂಗಿರಾಮನಗರ ದೂರವಾಣಿಸಂ ್ೆಯ : + ೯೧೮೦೨೨೧೦೪೦೯೯ ಫ್ಾಯಕ್ಸೌಸಂಖ್ೆಯ BEML Soudha, 23/1, 4th. Main, S R Nagar,Bangalore – 560027,Tel. +91 80 22963142/211, Fax. +91 80 22963142 cs@beml.co.in @cmdbeml BEML LTD.

CIN: L35202KA1964GOI001530, GST NO. 29AAACB8433D1ZU, www.bemlindia.in

Investors Meet 12.12.2025

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BEML Limited

Schedule “A” Company, Under ministry of Defence

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Mining • Construction • H&P • Rail & Metro • Aerospace • Armored • Engines • HMV • Sustenance

1

DISCLAIMER

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Statements in this presentation describing the Company’s performance may be “forward looking statements” within the meaning of applicable securities laws and regulations. Actual results may differ materially from those directly or indirectly expressed, inferred or implied. Important factors that could make a difference to the Company’s operations include, among others, economic conditions affecting demand/supply and price conditions in the domestic and overseas markets in which the Company operates, changes in or due to the environment, Government regulations, laws, statutes, judicial pronouncements . and/or other incidental factors

2

About BEML limited

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Schedule ‘A’ Company Public Sector Undertaking Ministry of Defence, Govt. of India.

Established on 11th May, 1964

Business verticals & contribution

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Defence & Aerospace
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Mining & Construction
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Rail & Metro
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Equity share

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46 54%
%
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Defence & Aerospace

FY25 – 27% H1 FY 26 – 40% of Revenue

Mining & Construction

FY25 – 54% H1 FY 26 – 43% of Revenue

Rail & Metro

FY25 – 19% H1 FY 26 – 17% of Revenue

3

SHARE HOLDING PATTERN

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54% 46% GoI Others	Category	As on 30.11.2025	As on 31.03.2025
	Government of India	54.03%	54.03%
	Mutual Funds	17.05%	17.50%
	Resident Individuals	18.70%	17.49%
	Foreign Portfolio - CORP	5.63%	7.27%
	BodyCorporates	1.44%	0.91%
	Qualified Institutional Buyer	1.00%	1.09%
	Non-Resident Indians	0.79%	0.49%
	H U F	0.65%	0.55%
	Alternative Investment Fund	0.15%	0.09%
	Trusts	0.01%	0.01%
	Non Resident Indian Non Repatriable	0.35%	0.38%
	IEPF	0.19%	0.19%
	ClearingMembers	0.01%	0.00%
	Total	100.00%	100.00%

4

Shareholder’s Return

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₹ Crs.
17382
13255 13410
7567
5235
5226
4174
3183 3220
1817
1257
1255
2021 2022 2023 2024 2025 SEP-25
Market Price per Share Market Capitalization
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➢ BEML completed stock split on November 3, 2025, by splitting One Equity share of Face value of Rs 10/- into Two Equity shares of Face value of Rs 5/-.

Expanded Shareholder returns through increased dividend derived from stabilized profits and continuous investments to enhance business competitiveness.

Dividend per Share (% to Face Value)

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21.20 (212%)
20.50 (205%)
10 (100%)
6(60%)
10(100%)
2021 2022 2023 2024 2025
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5

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Post Split
₹ Crs.
16716 16733
15192 15142
18215
2187 2007
2009 1824
1818
03-NOV 10-NOV 17-NOV 24-NOV 01-DEC
Market Price per Share Market Capitalization
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• ➢ BEML completed stock split on November 3, 2025, by splitting One Equity share of Face value of Rs 10/- into Two Equity shares of Face value of Rs 5/-.

➢ Total No. of Shares = 8,32,89,000 Face Value = Rs 5/- per Share

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6

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Organization Structure Business Verticals
Rail & Metro Business
Research & Development Commuter Rail Metro Rail
Sustenance Rail & Metro
Central Research
Design &
Facility
Development
STRATEGIC
BUSINESS International Business
Corporate Technology Futuristic product
Planning & Alliance Innovation & UNITS
Management Incubation centre International Business Division
(SBUs)
Defence Business
Mining & Construction Business
Armoured High Mobility
Strategic Systems
Vehicle
Sustenance
Mining
Mining & Construction
Maritime Engines
Aerospace
Construction Hydraulics & Powerline
SEZ
Sustenance
Defence & Aerospace
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7

Total: SBUs – 14 | Micro SBUs - 2

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Journey of BEML

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Unmanned Aerial
Earth Moving BMP Transmission Metro Cars India’s biggest Mining Vehicle – Initial Trial 1500 hp Engine for HMV 12 X 12
Equipment equipment Main Battle Tanks
completed
1 9 6 4 1 9 6 7 1 9 8 6 1 9 8 7 2 0 0 0 2 0 0 3 2 0 1 4 2 0 1 9 2 0 2 1 2 0 2 2 2 0 2 3 2 0 2 4 2 0 2 5
Rail Coaches High Mobility Armoured Recovery Missiles Vande Bharat BRS21 -21 Cu.m Rope
Vehicles Vehicles Aggregates and Driverless Metro Rail Grinding Machine Sleeper Set Shovel
Airborne structures
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8

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BEML:Pan-India Presence

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BILASPUR
BHOPAL
6 S E A P OR T OF F I C E L O C AT I ON
LEH Central Ware
148 acres of
4 MA N U FA C T U R I N G C O MP L E X E S land allotted for JAMMU housing Facility
Rail Mfg Facility
3 Z O N A L O F F I C E S
12 R E G I O N A L O F F I C E S
NEW DELHI
SILAPATHAR
16 D I S T R I C T O F F I C E S ITANAGAR
GUWAHATI
1 D E F E N C E S PA R E S D I V I S I O N UDAIPUR SINGRAULI DHANBAD
MAIHAR ASANSOL
7 A C T I VI T Y C E N T R E S AHMEDABAD BHOPAL BHILAIBILASPUR RANCHI KOLKATA
SAMBALPUR
NAGPUR
BAHCHELI
CHANDRAPUR BHUBANESWAR
MUMBAI
RAMAGUNDAM
PUNE KOTHAGUNDAM
HYDERABAD VISHAKAPATNAM
HOSPET
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KO L A R GO L D F I E L D S ( KGF)

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B EN GA LU R U

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MY S U R U

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BENGALURU CHENNAI
NEYVELI
KOCHI
MADURAI
Map Not To Scale
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PAL AK K A D

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9

1500hp Engine for Battle Tanks PMS Bridge System

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INHOUSE DEVELOPED PRODUCTS

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Medium Bullet Mechanical Mine Field Self Propelled Mine Command Post
Proof vehicle Marking Equipment Burrier Vehicle
Sarvatra Bridge TRAWL for Aircraft Towing Armoured Repair &
System Battle Tanks Tractor Recovery Vehicle
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10

INHOUSE DEVELOPED PRODUCTS

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Vande Bharat Sleeper Trains

Metro Cars

Utility Vehicles Electric Multiple Units

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Bull Dozers
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C
Dump Trucks
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Motor Graders
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Rope Shovel
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11

ACCOMPLISHMENTS Major

Defence 9400+ BEML High Mobility Vehicles Armoured Recovery 352 Vehicles 3700+ Trailers / Military Wagons 330 Nos. Pontoon 6 Sets Bridge Systems 1500 hp Engine for Main Battle Tanks 1050+ Track Width Mine Ploughs Armoured Recovery & 2 Nos. Repair Vehicles

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Aerospace

Nodal Agency for Ground Integration of Light Alloy Handling & Ground Support Structures – LVM3 Equipment - LCA Mk2

Manufacturing of Akash Integration of Su-30 & QRSAM Motor Casing Sub Assemblies Rail & Metro Mining & Construction Mining & Construction 18000+ 33880 Equipment Rail Coaches & 900 EMUs 29300+ Engines (76HP – 700HP) 2105 Metro Cars Exports Vande Bharat Sleeper Equipment to version Trains 1400+ 73 Countries 12

MAJOR ACHIEVEMENTS DURING H1 - FY 26

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• ➢ Highest ever order book of Rs. 16342 Crore.

• ➢ India’s first indigenously designed and developed 21 Cum Electric rope shovel handed over to M/s Coal India Limited.

• ➢ 1[st] Proto Train of Vande Bharat Sleeper successfully completed trials and 2[nd] Train set dispatched for oscillation trials which was successful.

• ➢ Designed, developed and supplied 550hp Motor Grader to M/s SECL.

• ➢ BEML-Engineered MMME Mk-II Inducted into Indian Army.

• ➢ Commenced manufacturing of High Speed Rail components at Bangalore Complex.

• ➢ Commenced the assembly of Light Armoured Multipurpose Vehicle (LAMV) at Kolar Gold Fields.

• ➢ Inaugurated New Warehousing facility at KIADB Aerospace Special Economic Zone (SEZ) in Bengaluru.

• ➢ Foundation stone laid for a new Central Warehousing Centre at Bilaspur.

• ➢ Foundation stone laid for New Bhopal Plant (BRAHMA) by Hon Raksha Mantri.

13

AWARDS

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• ➢ BEML won National Award for Outstanding Export Performance for FY 2021-22 at 54[th] EEPC Indian National Awards in 2025.

• ➢ BEML has been honoured with two prestigious awards at ET Leadership Excellence Awards 2025.

• ❖ The Excellence in Indigenous Engineering Award for our CMD Shri Shantanu Roy.

• ❖ The Trusted Brand Excellence Award for BEML.

• ➢ Won Golden Peacock Eco-Innovation Award 2025 for all-electric BRS-21 Rope Shovel.

• ➢ Awarded Golden Peacock Award for HR Excellence on 6[th] Feb 2025.

• ➢ KGF Complex won Uttama Suraksha Puraskara for Excellence in Safety in September 2025.

• ➢ BEML won five awards at 19[th] Global Communication Conclave 2025 organized by Public Relation Council of –

• India (PRCI) Business Communication Leadership; Content Marketing; Corporate Partnership; Table Calendar; Corporate Brochure.

• ➢ BEML shines with Gold at EEPC India Quality Awards 2025.

14

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BEML 1400+ 73
TO
Global Reach
Exported EQUIPMENT COUNTRIES
WE ST ERN EASTE RN
HEM IS PHERE HEM IS PHERE
Europe CIS
37 09 41 03
NorthAmerica
SAARC
02 02
213 05
LatinAmerica Asian
71 04 105 12
MiddleEast
Africa
453 11
484 27
# No. ofEquipment # No. of Countries
Defence products exported to Israel, Mining &Construction products exported Railway products exportedto
Sri Lanka,Bhutan,Suriname &Honduras Across theGlobe SriLanka & Bangladesh 15
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Ke Hi hli hts y g g

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PARTICULARS	Units	2020-21	2021-22	2022-23	2023-24	2024-25	Sep-25
Revenue from Operations	₹ Crs.	3597	4337	3899	4054	4022	1473
Gross Margin (EBITDA)	% of Revenue from Operation	5.63	7.40	9.97	11.98	13.20	2.68
Profit before tax(PBT)	₹ Crs.	93	206	279	383	405	(20)
Profit after tax(PAT)	₹ Crs.	75	135	159	283	294	(9)
Market Capitalization	₹ Crs.	5228	7566	5235	13255	13410	17382
Share Price(Face Value Rs 10/-)	₹	1255	1817	1257	3183	3219	4174
Net Worth	₹ Crs.	2224	2307	2395	2643	2854	2776
Return on Net Worth(PAT/Net worth)	%	3.36%	5.83%	6.63%	10.71%	10.31%	-0.33%
WorkingCapital	₹ Crs.	2774	2822	2480	2773	3094	2926
Manpower	No	6053	5573	5197	4888	4761	4608
R&D Exp	₹ Crs.	133	103	75	87	101	57
R&D Expas % of Sales	%	3.69	2.37	1.92	2.15	2.50	3.88

16

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Revenue from O erations – Business Grou wise p p ₹ Crs.

											₹ Crs.
			4337
4500					3899			4054		4022
4000	3597		1441	21%			10%		4%	760	0.79%
3500	1292		(33%)		1059 (27%)			1551 (38%)		(19%)
3000	(36%)									1083
2500	535		914 (21%)		908 (23%)			763		(27%)
2000	(15%)	1479		1474		1494		(19%)	1494		1473
1000 1500	1771 (49%)	269 529	1982 (46%)	554 423	1932 (50%)		239 601	1740 (43%)	402 350	2179 (54%)	583 253
500		681		497			653		741		637
0
	FY21	Sep-21	FY22 Sep-22		FY23	Sep-23		FY24	Sep-24	FY25	Sep-25
					M&C Def		R&M					17

Revenue from Operations (Q on Q)

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₹ Crs.

0% 10% 20% 30% 40% 50% 60%	11% 11% 17% 14% 16% 18% 23% 21% 23% 21% 20% 27% 27% 26% 22% 50% 39% 36% 37% 41% Particulars FY21 FY22 FY23 FY24 FY25 FY26 Quarter 1 391 467 669 577 634 634 Quarter 2 664 1012 805 917 860 839 Quarter 3 728 1175 1037 1047 876 Quarter 4 1814 1684 1388 1514 1653 Total 3597 4337 3899 4054 4022 1473
	FY21 FY22 FY23 FY24 FY25 Q1 Q2 Q3 Q4 18

Value of Production – Business Grou wise p ₹ Crs.

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|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|4500|3993|4056|
|3905|
|3802|
|3556|
|4000|12%|5%|7%|4%|
|798|
|1246|1440|
|3500|1165|(20%)|
|(31%)|(36%)|
|(31%)|
|1284|
|3000|
|(36%)|
|1049|
|(27%)|
|2500|994|797|
|856|
|454|(25%)|(21%)|
|(21%)|
|1637|
|2000|(13%)|1558|1548|
|1452|1429|
|1500|436|352|284|
|417|
|506|2057|
|1818|1753|489|1840|1760|406|548|
|1000|328|(53%)|
|(51%)|(44%)|(48%)|265|(43%)|
|500|707|713|659|800|716|
|0|
|FY21|Sep-21|FY22|Sep-22|FY23|Sep-23|FY24|Sep-24|FY25|Sep-25|
|M&C|Def|R&M|
|19|

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Profitabilit y

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₹ Crs.

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PBT (% Y on Y) PAT (% Y on Y)
500 400
405
383
400 283 294
300
300 279 37% 6% 78% 4%
206
35% 200
159
200
135
18%
93 122% 75
100 100
80%
0
0
FY21 Sep-21 FY22 Sep-22 FY23 Sep-23 FY24 Sep-24 FY25 Sep-25
-100 FY21 Sep-21 FY22 Sep-22 FY23 Sep-23 FY24 Sep-24 FY25 Sep-25
-66
-79 -32 -20 -20 -100 -79 -66 -23 -19 -9
-200
EBITDA (Gross Margin) (% Y on Y)
531
550
486
9%
450 389
25%
321
350
21%
58%
250 203
150
39 39
50 -19 -12 20
-50
FY21 Sep-21 FY22 Sep-22 FY23 Sep-23 FY24 Sep-24 FY25 Sep-25
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20

ORDER BOOK

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₹ Crs.

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ORDER BOOK - Annual
16000
14610
14000
11872
11363
12000
10000 9192
8570
8000 ORDER BOOK – Half Year
6000
18000
16342
4000
16000
2000
14000 12743
0 11453
12000 10778
FY21 FY22 FY23 FY24 FY25
10000 8804
8000
6000
4000
2000
0
Sep-21 Sep-22 Sep-23 Sep-24 Sep-25
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21

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Collection & Em lo ee Remuneration ₹ Crs. p y

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Collection – Half Year
Collection - Annual
2500 2350
6000 2038
1975
5000 4805 4656 4768 4548 2000 1719 1783
4000 3398 1500
3000
1000
2000
500
1000
0 0
FY21 FY22 FY23 FY24 FY25 Sep-21 Sep-22 Sep-23 Sep-24 Sep-25
Employee Remuneration – Annual/Half-Year (% of Revenue from Operation)
1000
849 858 840 822 826
800
24% 20% 22% 20% 21%
600
427 423 415 415 413
400
29% 29% 28% 28% 28%
200
0
FY21 Sep-21 FY22 Sep-22 FY23 Sep-23 FY24 Sep-24 FY25 Sep-25
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22

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Debtors & Inventor ₹ Crs. y

Debtors – Half Year

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Debtors- Annual (In Days to Revenue)
2000 1885 1861 1453 1452 1439
1500
1696
1187
1439 1116
1200
1500
168 142 1237
135
113 900
1000 99
600
500
300
0 0
FY21 FY22 FY23 FY24 FY25 Sep-21 Sep-22 Sep-23 Sep-24 Sep-25
Inventory – Annual (In Days to VoP) Inventory – Half Year
2500 2379 3000 2666
2256
2469
2000 1971 2073 2061 2500 2268 2292 2146
2000
1500
202 189 198 203 222 1500
1000
1000
500 500
0 0
FY21 FY22 FY23 FY24 FY25 Sep-21 Sep-22 Sep-23 Sep-24 Sep-25
23
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Bangalore Complex

Truck Division, Mysuru

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Palakkad Complex
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Earth Moving Division, KGF
Engine Division, Mysuru
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Engine Division, Mysuru
R&D Centre, KGF
24
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