BEML Pays Rs 18 Crore As Dividend To The Government

New Delhi/ Bangalore: Bharat Earth Movers Limited BEML Limited has paid a dividend of Rs 18 crores for the financial year 2017-18 to the Government of India. The Government of India holds 2.25 crore equity shares of Rs. 10/- each in BEML and accordingly entitled to the dividend of Rs. 18.00 crores @ Rs. 8.00 per share i.e., 80% on the equity share capital for the year 2017-18. CMD of BEML Mr. Deepak Kumar Hota handed over the Demand Draft of the said amount to defence minister Smt. Nirmala Sitharaman in presence of Sanjay Prasad, Joint Secretary (Land Systems), Ministry of Defence.

BEML manufactures a variety of heavy equipment, such as that used for earth moving, transport and mining. Incorporated in May 1964 BEML is Asia's second-largest manufacturer of earth moving equipment, and it controls 70% of India's market in that sector. BEML manufactures a wide range of products to meet the needs of mining, construction, power, irrigation, fertiliser, cement, steel and rail sectors. The earthmoving equipment includes bulldozers, dump trucks, hydraulic excavators, wheel loaders, rope shovels, walking draglines, motor graders and scrapers.

Up on the growth trajectory

BEML has been up on growth trajectory since past a few years. It is important to mention here that the PSU paid a dividend of Rs. 18.00 Cr. for the year 2016-17 to the Government of India last year.

BEML has recently introduced road headers and slide discharge Loaders for underground mining applications. railway products include integral railcoaches, electric multiple units, rail buses, track laying equipment and overhead equipment inspection Cars. BEML manufactures heavy duty trucks and trailers and hydraulic aggregates for the transportation sector.