BEML pays Rs 22.5 crore dividend for FY'23 to Govt

New Delhi: India’s leading Defence PSU BEML on Friday paid the final dividend of Rs 22.5 crore to Government of India for the financial year 2022-23. BEML CMD Shantanu Roy presented the dividend cheque to Defence Minister Rajnath Singh in Delhi. T Natarajan, Additional Secretary (Defence Production) and Shalabh Tyagi, Joint Secretary (P&C) were also present.

It is important to mention here that the BEML board had approved a dividend of Rs 10 per share to shareholders for the same financial year.

Public Sector's voice PSU Watch is now on Whatsapp Channels. Click here to join

The Govt of India, being the majority shareholder, holds 2.25 crore equity shares in the company. It has registered a profit before tax of Rs 279 crore for the same period, which is up by 35.41 percent than previous financial year.

Speaking at the occasion BEML CMD Shantanu Roy said, “We felt happy to share our achievement during 2023 and the roadmap for the next year 2024 with our Defence Minister".

"BEML is strategically planning to implement significant transformations, possibly in terms of operations, products and organizational structure, to achieve further growth and success,” he added.

It may be recalled that BEML Ltd had registered a revenue growth of 3.43 percent in defence business, a rise of 1.78 percent in mining & construction and 2.64 percent in spare parts business over its previous financial year respectively.

During the said period, the exports rose to Rs 830.14 crore (which includes physical exports of Rs 178.42 crore and deemed export of Rs 651.72 crore) against previous financial year’s Rs 564.74 crore.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)