BEML - Riding High On India’s Metro, Rail, Defence Story: Prabhudas Lilladher Initiates Coverage With A Buy

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Prabhudas Lilladher Report.We initiate coverage on BEML Ltd. with a ‘Buy’ rating at a target price of Rs 3,345, valuing it at a price/earning of 26 times FY26E. BEML is in a sweet spot to capitalise on “Make-in-India” and the country’s flourishing metro, railway and defence capex story led by-defence order pipeline of ~Rs 400 billion,near-term order potential of Rs 100 billion plus in metro projects,~Rs 365 billion plus opportunity in rolling stock for Vande Bharat trains, andhealthy order book (~Rs 124 billion) with ~Rs 8 billion capex planned to ramp up execution. We estimate revenue/adjusted profit after tax compound annual growth rate of 16.4%/50.3% over FY23-26E, with significant margin expansion of 420 basis points owing to revenue scale-up and falling manpower. The stock is currently trading at a price/earning of 29.4 times/22.3 times on FY25/26E earnings. .Click on the attachment to read the full report:.AU Small Finance Bank - Laying Strong Foundation Of A Forever Bank: Motilal Oswal.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BEML - Riding High On India’s Metro, Rail, Defence Story: Prabhudas Lilladher Initiates Coverage With A Buy

Sets target price of Rs 3,345, valuing it at a price / earning of 26 times FY26E.

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