BEML Limited, a Miniratna Category 1 Public Sector Undertaking under India’s Ministry of Defence, is making waves in the defence stock market. The company recently announced securing two significant export orders worth $6.23 million (approximately ₹52 crore), reinforcing its position as a key player in India’s defence and manufacturing sectors. These orders, disclosed after market hours on July 4, 2025, come from the Commonwealth of Independent States (CIS) region and Uzbekistan, marking BEML’s maiden order from the latter. This achievement aligns with India’s ‘Make in India’ initiative, showcasing the country’s growing prowess in global defence manufacturing.
The first order involves supplying heavy-duty bulldozers to a CIS country, catering to the region’s demanding mining and construction needs. The second order, from Uzbekistan, is for high-performance motor graders, a testament to BEML’s ability to penetrate new markets. These contracts add to BEML’s robust order book, which stands at an impressive ₹14,610 crore for FY 2024-25. The company’s innovative portfolio includes a 12X12 High Mobility Vehicle (HMV) for strategic weapon systems, a self-propelled mine barrier, and a first-of-its-kind air-cooled engine-based HMV for towing artillery guns. Additionally, BEML’s 1500 horsepower engine program has advanced to its next phase, signaling its commitment to cutting-edge technology.
On the stock market front, BEML’s shares have shown resilience. On July 4, 2025, the stock closed 1.59% higher at ₹4,521.90 on BSE and 1.73% up at ₹4,530 on NSE. This defence stock has surged nearly 100% from its 52-week low of ₹2,350, though it remains below its 52-week high of ₹5,488. Year-to-date, BEML has delivered a 9.94% return, with a 16.24% gain over the past six months, despite a 2.70% dip over the last year. With a market capitalization of ₹18,840 crore, BEML remains a strong contender in the defence stock arena.
BEML’s recent achievements extend beyond export orders. The company has expanded its defence manufacturing capabilities with three new units at its Kolar Gold Fields complex, designed for smart manufacturing of Armoured Recovery Vehicles (ARVs). This move enhances BEML’s ability to meet evolving defence requirements efficiently. Additionally, a collaboration with DRDO’s Vehicles Research and Development Establishment to produce critical mobility systems like unit maintenance vehicles and 70-tonne tank transporters underscores BEML’s role in India’s self-reliance in defence.
The broader defence sector is also thriving, with the Defence Acquisition Council approving ₹1.05 lakh crore in acquisitions, boosting stocks like BEML, HAL, and BEL. India’s defence budget of ₹6.81 trillion for 2025-26 and a $5 billion export target by 2025 further fuel optimism. However, analysts caution that valuations in the defence stock market may be stretched, suggesting potential consolidation.
BEML’s strategic focus on innovation, global expansion, and indigenous production positions it as a cornerstone of India’s defence ecosystem. As the company continues to secure high-value contracts and advance its technological capabilities, investors and industry watchers are keeping a close eye on this dynamic defence stock. With its strong order book and government backing, BEML is poised for sustained growth in 2025 and beyond.