BEML Ltd — Interim / Quarterly Report 2025

Nov 11, 2024

Defence & Aerospace | Mining & Construction | Rail & Metro

Ref: CS/SE/Q-2/2024-25/537 11.11.2024

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

Dear Sir / Madam,

Sub: Outcome of the Board Meeting

Ref: Our letter No. CS/SE/2024-25/534 dated 30.10.2024

We are enclosing herewith statement of Standalone and Consolidated Unaudited Financial Results along with Limited Review Report for the Second quarter ended 30.09.2024 in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The said results have been considered and approved by the Board at its 406 meeting, held on 11.11.2024. Arrangements have also been made to publish the extract of the results in national daily (English) and local daily (Kannada) newspapers.

Meeting of the Board of Director commenced at hours and Concluded at hours. 10:00 13:15

Please bring this to the notice of all concerned.

Yours faithfully, For BEML LIMITED

URMI CHAUDHURY Digitally signed by URMI CHAUDHURY Date: 2024.11.11 13:15:44 +05'30'

Urmi Chaudhury Company Secretary & Compliance Officer ICSI Mem. No.: A29400

Encl: As above

S@enisdd Corporate Office: BDRF, 92/0, vieana o3, Jo80N0HRG, oriteds - %2009 2. BeOTER0,: +£000999920Em 393,08 +£0009900v0F € BEML Soudha, 23/1, 4th. Main, S R Nagar, Bangalore — 560027,Tel. +91 80 22963142/211, Fax. +91 80 22963142 e-mail:cs@beml.co.n ¥ @cmdbeml € @BeMLHQ CIN:L35202KA1964G0I001530, GST NO. 29AAACB8433D1ZU wwiw.bemlindia.in

[CiN: L35202KA1962GN001530) iSchedule 'A' Company unuer Ministry of Delence}

Registered Office : "BERI SOUDHA", 23/1, 4th Main Road, S.R. Nagar, 1027,

Tel. & Fax: {08D) 22563147, E-mall: s@bemloo.in, Website: www.bemlindia.in

	Statement of Standalone Audited Results for the Quarter and Six Months ended 30-09-2024					{Rs in lakhs except EPS)
S.No	Particulars		Quarter ended		Six Months Ended	Year Ended
		30.09.2024	30.06.2024(Unaudited) (Unaudited) [Unaudited) {Unaudited) (Unaudited)	30.09.2023	30.09.2024	30.09.2023	31.03.2024(Audited)
	iR __ Revenue from operations	85,984	63,408	91,679	1,49,392	1,249,371	405,437
	I_[Other inceme	1515	81	748	1,596	833	4317
W	Total Income {I+11)	87,499	63,489	92,427	1,50,988	1,50,264	4,00,749
	v_ Expenses:
	Cost of materials consumed	47,360	37,660	47,272	85,021	74,671	2,14,708
	Changes in inventaries of finished goods, stork-in-trade and work-in-orogress		6]£	2,230	111,151)	4,849	(5,203}
	Employee benefits expense	20,125	21,355	20,559	A1,480	21467	82,223
[	Irinance costs	1,576	892	1,075	2,458	2,078	3,902
	Depreciation and amorlization expense	1,728	1,682	1,573	3,411	3,135	6,374
	Other expenses-	15,752	15,949	15,468	31,740	27,278	69,458
	Total Expenses (IV)	81,987	70,983	88,177	1,52,970	1,53,478	3,71,462
V.	Profit £ {Loss) before exceptional items and tax{111}	5512]	(7,294}	4250	11,982	(3,214}	38,287
	VI_[Add/ ILess) : Exceptional items	2	a	5	3	-
Vil	Profit / {Loss) before tax (V-VI}	5512	(7,494}	4,250	(1,982)]	(3.,214)	38,287
VIl	[Current Tax	-	-	1,221	-	1,221	10,505
	tarlier year Tax	289	-	-	289	-	-
	Deferred Tax	82	(491)]	12,182)	1409)	(2,182]	(520}
1	[Profit / {Loss) for the periad from continuingoperations (VIV}	5,141	(7,003	5.211	(1,852}	(2,253)	28,307
X	Profit { Loss) from ciscontinuing operations	-	2	z	B
	XI_ Tax expense of discontinuet operations	E	=
XNl	[Profit { (Lass) from discontinued aperaticrslafter tax) (X-XI)	-	-	-
X1	[Profit / {Loss) for the period (X+X11)	5,141	{7.003)	5,211	(1,862)	(2,253)	28,302
	X¥_ Other Comorehensive Income {net of Taxes)	(250)	(212	1339]	1505)	(2,023)	531
XV	Total Comprehensive Income for the period(K1£XIV)	4,851	(2,218)	4,872	{2,367))	3,274))	28,933
	XVI_Eguity Share Capital	4,164	4,164	4,164	4,164	4,164	4,164
XVIl	Reserves [excluding Revaluation Reserve)	2,51,284	2.52,888	2,29,981	2,51,280	229,981	260,106
	XVIll [Earnings per equity share: (Rs 10/ ezchl in Rs
	Basic and diluted	12.24	(16.82)	1251	a7	{5411	6796

Notes

1. The zbove results have been prepared in accordance with Ind AS, duly reviewed by the Audit Committee at the meeting held on 18,11.2024 and approved by the Board of Directors at the Meeting held on 11,11,2024

2. As required under SE8I regulations, 3 limited review of the above financials was conducted by the St Repart as duly placed before the aforesaid meeting of the Board is enclosed. awtory Auditors and the Limited Review

• 3} Exemption has been pranted by Ministry of Corporate Aifairs {MCA} from publishing segment-wise infarmatian,
• 1. As per CCEA approval dated 8th September 2021, /s ¥ignyan Industries Lto, a su have been disposed off and disposal of immavable assets isin progress, idiary of BEA L is uncer voluntary liguivation. Moable assets
• 1. The company has advanced Rs 7,325.37 lakhs to the MARC consortium formed along with M/s Coal India tdiC1L) and Wjs Damadar Valley Corporation {DVC) for azquiring specified assets of Mining & Alliec Machinery Corporation Ltd. IMARC] {under Fguidstion]. The company's share n the consortivrm is 48%. Further, 2 company MAMC Industries 11d (MIL} was formed & incorparated for the intended IV formation, The campany has advanced Rs 605.20 lakhs on account of MIL. As per the latest valuation repart furnished by registered valuer, the fair value of MAMC assets = Rs 21765 Lakhs and the company's sharc of 48% comes t0 Rs 10462 Lakhs which is above the total scvances paid to MARC consortium,
• 1. Previous period figures have been regrouped and reciassified wherever necessary to make them comparable with the current period figures 7) Campany has invested an amount of Rs. 261,31 lakhs in M/s Communication (Defence) Testing Foundation, a Section & company formed on

31.05.2024 {which is yet to commence its business) between BEL, BEML, HAL anc AWEIL with BEL as the majority shareholder, towards subscription of 26131 sheres @ face velue of & 1,000/ each, 8) During the quarter, Company has invested an amaunt of Rs. 300.00 lakhs in /5 Unmanned Aerial Systems Testing Foundation (UASTF), a Sect'on

& campany formed on 21.06.2024 [which is yet to commance its business] between AL, BEL, BEML, YIL, GIL and Encure Air System Private Limited (EASPL) with HAL as the majority shareholder, towards subscriotion of 30000 shares g face value of B 1,000/- a

9/ SHANTANU ROY fol oy @ e J Chairman & Managing Director s /BEML LIMITED Place : Sri Vijaya Puram (Port Ughm,f:l;;;'xx:;? (Shantanu Roy) Date : 11.11.2024 INAE [ BENGALURL . 560 127, Chairman and Managing Director

By

(CiN: (35207KA3964GO001530) {5chedule 'A' Company under Ministry of Deferce]

Registered Office | *BENL SOUDHA", 2341, 41h Main Road, 5.8 Nagar, Bengaluru - 550027,

	Audited Results for the Quarter and Six Months ended 30.03-2024!&atemem of Consolidated				_______[Rs in lakhs except EPS)Six Months Ended		Year Ended
s.No			Quarter ended			31.03.2024
	N	30092024	30.06.2028	3009.2023	30.08.2024 {Unaudited] {Unaudited) {Unaudited) (Unaudited) (Unaudited)	30.09.2023	[Audited)
	[Revenve from operations	85,984	62,408	91,679	148,382	149371	405432
	W_[Other income	1,486	53	722	1,538	847	24
1l	Total Income {1411}	87,470	63,461	92,401	1,50,931	1,50,212
	v_ Expenses: Cast of materials corsumed	47,360	37,650	47212	85001	r46is
	Changes ir invencories of finshed goads, stock-in!trace and workin orogress	{4.595)	(5,356]	2230	{11,151]	2,849
	Fmployee bencfiss expense-	20125	21,355	20,559	41,480	41267	82,222
	Finance costs	1576	892	1,075	2468	2,078	3,902
	Depreciation and amortization expens:	1,731	1,685	1,575	3415	3,140	6,383
	Other expenses	15,798	15,963	15472	31,761	27,252	69,480
	Total Expenses IV}	81,996	70,999	88,183	152,995	153,496	3,71,090
W	Profit / {Lass] before exceptional ltems and tax-	5475	(7.538)	4,218	12,064z	(3,283)	38,162=
VI	Add/ {Less] : Exceptional tems	-	-				38,162
	VII_ Profit / {Loss) before tax {v-V1)	5,475	(7.538]	2,218	(2,064	(3,283)
	VIl Current Tax	-	-	1221	-	1221	10,505-
	Earlier year Tax	289	-	-	289	-(2,182	1520}
	Deferred Tax	82	(51	12,182)	1408	12,323)	28177
I	Profit/ iLoss! for the period from continuingoperatians (VI-VIIIL	5,103	17,047,	5175	{2,844
%	Profit / {Loss) from discontinuing operations	-	:	-	z	-
	¥ _ Tax expense of ciscontinued operations	-	-	,	s		=1
X1	Profit/ {Loss) from ciscontinuce operations{after tax) (X-X1)	-	-		=		N
	X1Ii_ Profit / (Loss) for the period {IX+X1)	5,103	{7,047)	5178	(1,994)	(2,323),	28,177
	Xiv_ Other Comprehensive incame inet of Taxes]	(250)	(214	(339	1505))	(1.021)	631
XV	Total Comprehensive Income for the period(XHXIV)	2,813	(7,262)]	2,840	(2,a28)	13,343)	28,809
	XVI_ Equity Share Capital	4,164	4,164	4,164	4,164	4,164	4,164
XVl	[Reserves (excluding Revaluation Reserve)	2,65,711	2,55,315	2,32,507	2,65,711	232,507	2,62,576
	XVIII Earnings per equity share: (@5 10/~ each) in Rs
	Basic and diluted	12.25	116.92)	12.43	{0,671	15.58)	67.66

Notes

1. The sbove results have been prepared in accordance with ind &5, Guly reviewsd by the Audit Committee at the meeting held on 10.11.2024 and approvec by the Board of Directors at the Meeting held on 11.11.2024,

2. As required under SEBI regulations, & limited review of the above finarcials was canducted by the Statutory Auditors and the Limited Review Report as duly placed before the aforesaid meeting of the Board is eaclosed.

3} Exernption has heen granted oy Ministey of Corporate Affairs {MCA] from publishing sepment-wise information

• 4The unaudited quarterly results of subsidiary companies viz. Vignyan Industiies L1d. (96.56% shareholding! and MAMC Industries Ltd (1005 sharehalding) are incuted in consolidated financial results on a line to line Lasis 2 prescrioed under Ind AS 130 - Consolidated Financial Statements. As per CCEA approval dated Bth Seatember 2021, k{5 Vignyan Industries Lid (VIL}, subsidiary of BEML is under valuntary iguidation Movable assets kave been disposed off and disposal of immavable assets tland} s in progress.
• §) The group has advenced Rs 7,325.37 lakhs to the MAMZ cansortium formed slong with Wi Coal India Lul{CIL) 2nd M/s Damooar Valley Carporation (DVEC] for acquiring specified assets of Mining & Allied Machinery Corporation 11d IMARIC] {under Tiquicationt. The company's share in te consortium is 8%, AS per tae latest valuation report furnished by registered vakuer, the fair value of BIAMC assets is Rs 21785 Lakhs and the company's share of 48% comes to ks 10462 Lakhs which is above the total advances gaid 1o MAMC cansortivm.
• 1. /s BEML Michwest (xd subsidiary IV company formed with M/s Midwest Grarite Pul. Ltd nas not prepared its financial Staternenis due to itigation pending with National Company Law Tribunal, Hence the Consolidated Financial Statements da nat include those related to the JV. The imvesiments in BEML Midwest Ltd Rs 542.25 lakhs have been fully provided for in the books of the graup.
• 7} Previous period figures have been regrouped and reclassified wherever necessary ta make them campareble with the current period figures.
• 1. Group has invested ar amount of Rs. 261.31 lakhs in Mjs Communication {Defence] Testing Foundation, a Section & company formed on 31.06.2024 {which is yel to commence ts Lusiness) between BEL, BEML, HAL and AWEIL with BEL 25 the majority sharcholder, towards
• subscription of 26131 shares @ face value of Rs 1,000/ each. 9} Group has invested an amount af Rs. 330.00 lakhs in /s Unmanned Aerial Systems Testing Foungation (UASTE!, a Section & company fotmcd an 21.06.707 fawhich is yet to commence its businessjbetween HAL, BEL, BERL, Y'L, GIL and Endure Alr System Privale LiniteG[EASPL with HAL as the majority shareholder, towards subscription of 30000 shares @ face value of s L.00R/- each

By B & 2 fore BRI /BEML LIMITED / wer it 2341, e A9, e A Place ; ri Vijaya Puram (Pofl!wawdlu No.23/1, 4¢h Main, S.R Nager {Shantanu Roy) Date:11.11.2024 RN ".227%% Chairman and Managing Director

(CIN: L35202KA1964GO/001530)

(Schedule 'A' Company under Ministry of Defence)

Registered Office: "BEML SOUDHA", 23/1, 4th Main Road, S.R. Nagar, Bengaluru - 560 027.

Tel. & Fax: (080) 22963142, E-mail: cs@bemi.co.in, Website: www.bemlindia.in

Standalone / Consolidated Statement of Assets and Liabilities

Standalone / Consolidated Statement of Assets and Liabilities	Standalone as at		(Rs in Lakhs)Consolidated as at
Particulars	30.09.2024	30.09.2023	30.09.202430.09.2023
I. Assets
(1) Non-current assets
[a] Property, Plant and Equipment	49,305	45,916	49,722	46,342
(b) Right of Use Asset	875	868	875	868
	4,517
(c) Capital work-in-progress		2,693	4,517	2.693
(d) Intangible assets	3,135	2,140	3,135	2,140
(e) Intangible assets under development	$\sim$	1,385	÷.	1,385
(f) Financial assets
(i) investments	819	258	561	O
(ii) Loans	15	14	15	14
(iii) Other financial assets	86	89	86	89
[g] Deferred tax assets (net)	11,757	13,010	11,757	13,010
(h) Non-Current Assets held for demerger			16,286	4,248
(i) Other non-current assets	8,282	8,259	7,677	7,654
Total non-current assets	78,792	74,630	94,633	78,443
(2) Current assets
(a) Inventories	2,66,604	2,14,587	2,66,604	2, 14, 587
(b) Financial Assets
(i) Investments
(ii) Trade receivables	1,45,216	1,11,552	1,45,216	1,11,552
(iii) Contract Assets	60,207	57,350	60,207	57,350
(iv) Cash and cash equivalents	830	866	831	883
(v) Bank Balance Other than (iv) above	6,520	66	6,521	67
(vi) Loans	2,130	1,491	720	194
(vii) Other financial assets	444	667	444	667
(viii) Current tax assets (Net)	2,948	3,248	2,951	3,251
(c) Other current assets	20,058	23,098	20,058	23,098
Total current assets	5,04,958	4,12,925	5,03,552	4,11,648
Total Assets	5,83,750	4,87,555	5,98,184	4,90,091
II. Equity and Liabilities
Equity
(a) Equity share capital	4,177	4,177	4,177	4,177
(b) Other Equity	2,51,284	2,29,981	2,65,757	2,32,549
Equity attributable to equity holders of the parent	2,55,461	2,34,158	2,69,934	2,36,726
Non-controlling interests			(46)	(42)
Total Equity	2,55,461	2,34,158	2,69,888	2,36,684
Liabilities
(1) Non-current liabilities
(a) Financial liabilities
(i) Borrowings
	962	949	962	949
(a) Lease Liability	113	113	113	113
(ii) Other financial liabilities		25,089		25,089
(b) Provisions	26,889		26,889
(c) Other non-current liabilities	79,336	55,322	79,336	55,322
Total non-current liabilities	1,07,300	81,472	1,07,300	81,472
(2) Current liabilities
(a) Financial liabilities
(i) Short term Borrowings	63,813	38,032	63,813	38,032
(a) Lease Liability	100	71	103	73
(ii) Trade payables
(a) Micro & Small Enterprises	10,644	10,411	10,644	10,411
(b) Other than Micro & Small Enterprises	57,798	47,285	57,799	47,289
(iii) Other financial liabilities	27,831	1,844	27,831	1,845
(b) Other current liabilities	37,360	45,518	37,364	45,521
(c) Provisions	23,443	27,886	23,443	27,886
(d) Current tax liabilities (Net)		878		878
Total current liabilities	2,20,989	1,71,925	2,20,996	1,71,935
Total Equity and Liabilities	5,83,750	4,87,555	5,98,184	4,90,091

शान्त नु रॉय/ SHANTANU ROY अध्यक्ष एवं प्रबंध दिशक / Chairman & Managing Director अध्यक्ष एवं प्रवंध दिशक / Chairman & Managing Director अध्यक्ष सीधा, 23/1, बीधा मैन, एस.आर. नगर BEML Soudha, No. 23/1, 4th Main, S.R.N By orde of the Board $for$ $B$ E M Limited (Shantanu Roy)

Chairman and Managing Director

Date: 11.11.2024

(CIN: L35202KA1964GDI001530)

(Schedule W Company under Ministry of Defence)

Registered Office: "BEML SOUDHA", 23/1, 4th Main Roed, S.R. Nagar, Bengaluru - 560 D27. Tel. & Fax: (000) 22953142, F-mail: ps@beml.co.in. Website: www.bcmindip.in

Standalone / Consolidated Cash Flow Statement

	Standalone for the Half year ended				Consolidated for the Half year ended
Particulars	30.09.2024		30.09.2023		30.09.2024		30.09.2023
	Sub item	Main Item	Sub item	Main Item	Sub item	Main Item	Sub item	Main Item
A. Cash flow from operating activities
Net profit before tax and extraordinary items		(1,982)		(3,214)		(2,064)		[3,283]
Adjustments for
Depreciation and amortization expense.	3,411		3,135		3,415		3,140
(Gain)/loss on disposal of property, plant and equipment	6		(14)		б		(14)
Financing Cost	2,468		2,078		2,468		2,078
Interest income	$ 112\rangle$		(271)		$\langle$ 55)		(220)
Allowance for Inventory	2,797		1,032		2,797		1,032
Allowance for bad and doubtful Trade receivables	1,649		2,045		1,649		2.046
Allownaces for other current assets	(1, 114)		(284)		(1, 114)		(284)
Allownaces for other non-current assets
Allowance for Provision - current	[4,098]		3,256		(4,098)		(583)
Allowance for Provision - non-current	3,192		(3,380)		3,192		469
Actuarial gain / (loss) on Gratuity & PRMS.	(505)	7,693	(1,364)	6,245	(505)	7,754	[1, 364]	6,301
						÷
Operating Profit / (Loss) before changes in working capital		5,711		3,031		5,691		3,018
Adjustment for
Invertories	(43, 811)		(9,478)		(43, 811)		(9,478)
Trade receivables	(2, 946)		50,071		(2,946)		10,071
Other current assets.	6,397		3,706		6,397		3,707
Other non-current assets	(412)		(2,274)		(412)		(2, 274)
Other financial current assets	4,554		3,644		4,619		3,590
Other financial non-current assets			$\left( \mathbb{Z}\right)$		1		(1)
Trade payables	[7, 511]		110, 131		(7,520)		(10, 131)
Other current liabilites	(28, 917)		8,428		$ 28,916\rangle$		8,427
Other non-current habilites	14,997		794		14,997		794
Other financial current liabilites	25,808		304		25,808		304
Other financial non-current liabilities	13		(32)		13		132)
Income Tax & Deferred Tax	(10, 598)	[42, 424]	(4, 357)	676	(10, 598)	[42, 367]	(4,357)	721
Net cash flow from / (used in) operating activities		(36, 714)		3,707		(36, 676)		3,739
B. Cash flow from investing activities
Purchase of property, plant and equipment	(S, 093)		(3,752)		(5,093)		13,752
Proceeds from sale of property, plant and equipment	13		17		13		17
Purchase of intangible assets	(100)		(32)		(100)		(32)
Proceeds from sale of intangible assets
(Gain)/loss on disposal of property, plant and equipment	[6]		14		(6)		14
investments in Subsidiaries & Associates	(561)		(0)		(561)
Interest Received	112		271		55		220
Revaluation of Asset of Subsidiaries	×				(12, 038)		19
FDRs maturity beyond 3 months			2,943		$\theta$		2,958
Net cash flow from / [used in) investing activities		(5,635)		(538)		(17, 730)		(555)
C. Cash flow from financing activities
Repayments of Non-Convertible Debentures
Repayments of export credit
Proceeds / Repayments from Bill discounting			14,897)				(4, 897)
Proceeds / Repayments from Unsecured borrowings	17,500				17,500
Financing Cost	(2,468)		(2.078)		(2,468)		[2, 078]
Adjustment in retained earnings					12,038
Dividend caid	(12, 910)		(2,082)		(12, 892)		(2.082)
Net cash flow from / (used in) financing activities		2,122		19,056)		14,178		[9,056]
		${40,227}$		(5,887)		(40, 229)		(5,873)
Net increase/(decrease) in cash and cash equivalents		(5, 256)		(31, 250)		(5,254)		(31, 277)
Cash and Cash Equivalents, Beginning of the yearCash and Cash Foundatorts, Ending of the vest		[45, 483]		[37, 165]		$ 45, 482\rangle$		137,150

शान्तनु रॉय/ SHANTANU ROYअध्यक्ष एवं प्रबंध निदेशक / Chairman & Managing Directorअंतर्गुल लिमिटेड /BEML LIMITEDबंगल सौथा, 23/1, चौथा मैन, एस.आर. नगरBEML Soudha, No. 23/1, 4th Main, S.R.Nagerबेगलूह / BENGALURU - 560

By order of the Board for BEML Limited (Shimanu Roy)

(Rs in Lakits)

Chairman and Managing Director

Place : Sri Vijaya Puram (Port Blair) Date: 11.11.2024

BEML Limited (CIN: 135202KA1964GOI001530)

(Schedule 'A' Company under Ministry of Defence)

Registered Office: "BEMLSOUDHA", 23/1, 4th Main Road, S.R. Nagar, Bengaluru - 560 027. Tel. & Fax: (080) 22963142; E-mail: es@bemLco.in, Website: www.bemIndia.in

	Statement of Standalone & Consolidated audited Results for the Six months ended 30.09.2024								(Rs in lakhs except EPS)
SI.	Particulars		Standalone			Consolidated
No.		Quarterended	Half yearended	Quarterended	Year ended	Quarterended	Half yearended	Quarterended	Year ended
		30.09.2024	30.09.2024	30.09.2023	31.03.2024	30.09.2024	30.09.2024	30.09.2023	31.03.2024
		Unaudited	Unaudited	Unaudited	Audited	Unaudited	Unaudited	Unaudited	Audited
	Total Income from Operations	85.984	1,49,392	91,679	4.05.432	85,984	1,49,392	91,579	4.05.432
$\bar{z}$	Net Profit / (Loss) for the period (before Tax.Exceptional and / or Extraordinary items)	5.512	11.9821	4,250	35,287	5,475	(2,064)	4,218	38,162
$\overline{3}$	Net Profit / (Loss) for the period before tax (afterExceptional and / or Extraordinary items)	5,512	(1,982)	4,250	38,287	5,475	(2,064)	4,218	38,162
$\mathcal{A}$	Net Profit / (Loss) for the period after tax (afterExceptional and / or Extraordinary items)	5,141	(1,862)	5.211	28,302	5,103	(1, 944)	5,178	28,177
5	Total Comprehensive Income for the period[Comprising Profit / (Loss) for the period (after tax) andOther Comprehensive Income (after tax)	4,851	(2,367)	4,872	28,933	4,813	(2,448)	4,840	28,809
6	Paid up Equity Share Capital	4,164	4.164	4,154	4,164	4,164	4,154	4,164	4,154
7	Reserves (excluding Revaluation Reserve)	2,51,284	2,51,284	2,29,981	2,60,105	2, 55, 711	2,65,711	2,32,507	2,62,576
8	Security Premium Account	61,204	61,204	61,204	61,204	61,204	61,204	61,204	61,204
9.	Net worth	2,55,461	2,55,461	2,34,158	2,64,283	2,69,888	2,69,888	2,36,684	2,56,754
	10 Paid up Debt Capital / Outstanding Debt	÷		$\sim$		œ.	×.
11	Curstanding Redeemable Preference Shares	$\sim$	$\sim$	A.		$\sim$	and in
	12 Debt Equity Ratio	0.25	0.25	0.15	0.02	0.24	0.24	0.16	0.02
	13 Earnings per Share (of Rs 10/- each) (for continuingand discontinued operations)
	1. Basic:	12.34	[4, 47]	12.51	67.96	12.25	(4.67)	12.43	67.65
	2. Diluted:	12.34	[4.47]	12.51	67.95	12.25	(4.67)	12.43	67.66
	14 Capital Redemption Reserve			÷.			ä,
	15 Debenture Redemption Reserve			$\sim$ .	$\sim$		$\sim$
	16 Debt Service Coverage Ratio	5.60	1.58	6.42	12.45	5.57	1.55	6.39	12.42
	17 Interest Service Coverage Ratio	4.50	0.20	4.95	10.81	4.47	0.16	4.92	10.78

Notes

Date: 11.11.2024

Above is an extract of the detailed format of Quarterly and Half yearly Financial Results filed with the Stock Exchanges under Regulation 33 of the LODR Regulations, The full format of the Quarterly and Haf yearly Financial Results is available at the website of the stock exchanges NSE at www.nseindia.com, the BSE at www.bseindia.com and company's website at www.bemlindia.in.

आन्तु सॅय/ SHANTANU ROYअध्यक्ष एवं प्रदेशक / Chairman & Managing Directorबीईएमएल लिमिटेड/BEML LIMITEDदेवल सीधा, 23/1, चौथा ने दु. एस.आर. उत्तर, उ.R. NagerPlace : Sri Vijaya Puram (Port Blair)Price : Sri Vijaya Puram

By order of the Board for BEW Limite (Shantynu Roy)

Chairman and Managing Director

G. NATESAN & CO., :ce)ac;,'?.fi:fc;eufih Street, Chartered Accountants Abiramapuram,

Chennai - 600 018.

LIMITED REVIEW REPORT

Limited Review Report on Unaudited Standalone Financial Results of BEML Limited for the Quarter and Half year ended September 30, 2024 under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

Review Report to The Board of Directors of BEML Limited

• 1. We have reviewed the accompanying statement of unaudited standalone financial results (the statement) of BEML Limited (the company) for the quarter and Half year ended September 30, 2024 being submitted by the company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 (as amended) ("Listing Regulations").
• 1. The Statement, which is the responsibility of the Company's management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, Interim Financial Reporting ('Ind AS 34'), prescribed under section 133 of the Companies Act, 2013 (the Act), and other accounting principles generally accepted in India and is in compliance with the presentation and disclosure requirements of Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

G. NATESAN & Co., Chartered Accountants

• 1. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with applicable accounting standards and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement.
• 1. Emphasis of Matter paragraph:
  • a. We draw attention to Note No.5 to the statement regarding the company's outlay on the MAMC Consortium and the related advance to MAMC Industries Ltd.

Our opinion is not qualified in respect of the matter stated in Para 5 above

Place: Sri Vijaya Puram For G. Natesan & Co

Date: 11.11.2024 Chartered Accountants FRN 0002424S

MURALI Dronalystaned by VARALAKSH VARALAKSHMI Date: 2024.11.11 MI 11:35:49 +0530° CA Varalakshmi Murali Partner M.No. 028863 UDIN: 24028863BKGUID9546

LIMITED REVIEW REPORT

Limited Review Report on Unaudited Consolidated Financial Results of BEML Limited for the Quarter and Half year ended September 30, 2024 pursuant to the Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

To The Board of Directors BEML Limited

• 1. We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results ( the Statement) of BEML Limited (the Parent) and its Subsidiaries (the Parent and its subsidiaries together referred to as "the Group") and its share of the net loss after tax of its Associates for the quarter and Half year ended September 30, 2024 ("the Statement"), being submitted by the Parent pursuant to the requirement of Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended and the relevant circulars issued by SEBI from time to time.
• 1. This Statement, which is the responsibility of the Parent's Management and approved by the Parent''s Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and is in compliance with the presentation and disclosure requirements of Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

• 1. We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.
• 1. The Statement includes the results of the following entities:

Parent:

1. BEML Ltd.

Subsidiaries:

• 1. Vignyan Industries Ltd (under Liquidation)
• 1. MAMC Industries Ltd

Basis for Qualified Conclusion:

1. We draw attention to Note. No:6 of accompanying statement relating to the investment of the holding company in BEML, Mid-West Ltd., a joint venture company (Associate). The financial information of the said joint venture company has not been consolidated due to non-availability of financial statements. Under the accounting principles generally accepted in India, the Group should have consolidated the results of the Joint Venture company. The effects on the consolidated financial statements of the failure to consolidate have not been determined.

Qualified Conclusion:

• 1. Based on our review conducted and procedures performed as stated in paragraph 3 except for the matter described in the Basis of Qualified Conclusions Paragraph 6 above, and based on the consideration of the review reports of the other auditors referred to in paragraph 8 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.
• 1. We did not review the interim financial information of the two subsidiaries included in the unaudited consolidated financial results, whose interim financial information reflects total assets of Rs.16,707.72 lakhs as at September 30, 2024 and, total revenues of Rs. 0.03 lakhs for the quarter and Half year ended September 30, 2024 respectively, total loss of Rs. 81.58 lakhs for the quarter ended September 30, 2024 respectively, as considered in the Statement.

This interim financial information has been reviewed by other auditors whose reports have been furnished to us and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above.

Emphasis of Matter paragraph:

1. We draw your attention to Note No. 5 accompanying the Statement regarding the parent's outlay on the MAMC Consortium and the related advance to MAMC Industries Ltd.

Our conclusion is not modified in respect of matters mentioned in paras 8 and 9 above.

Place: Sri Vijaya Puram Date: 11.11.2024

For G. Natesan & Co Chartered Accountants FRN 0002424S

MURALI aswtx\yx\gned by RALI VARALAKS VARALAKsHMI Date: 2024.11.11 HMI 113654 405'30" CA Varalakshmi Murali Partner M.No. 028863 UDIN: 24028863BKGUIE4030