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BEML to expand Vande Bharat and metro trains; boost export revenue to 10%
Industry News- Aug 12,24
The company is exploring potential markets in the Middle East, South America, and the ASEAN region.
State-owned BEML Ltd is setting its sights on expanding its export footprint, with a focus on Vande Bharat and metro trains. The company, which has recently reorganized its operations, aims to significantly boost its export revenue from the current 4% to 10% over the next year.
Shantanu Roy, Chairman, BEML emphasised the company’s immediate priority of rolling out the indigenous Vande Bharat trains domestically. However, he indicated that BEML is targeting export opportunities for these trains and metro systems in the coming years. The company is exploring potential markets in the Middle East, South America, and the ASEAN region.
The company’s restructuring has created 11 strategic business units (SBUs) across three key segments: mining and construction, defence, and rail and metro. Each SBU is led by a CEO to streamline decision-making and enhance operational control. This reorganisation is part of BEML’s broader strategy to accelerate its Make in India initiative and improve profitability.
For the quarter ending June 30, 2024, BEML reported a consolidated net loss of Rs 700 million, though it achieved a 10% growth in revenue. Roy noted that last year’s performance was an improvement over previous years, and the company is targeting a 100 basis point increase in EBITDA growth, aiming to reach 16-17% in the near future.
(ET)
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