BEML Achieves ‘Excellent’ Rating in MoU 2023-24
Jan 17th, 2025 11:53 am | By ThenewsmanofIndia.com | Category: SPECIAL NEWS COVERAGE
Shantanu Roy,
Chairman & Managing Director at BEML Ltd.,
(THE NEWSMAN OF INDIA.COM) By TNI Business Reporter: BEML Limited has earned the prestigious ‘Excellent’ rating with an outstanding score of 90.50 out of 100 under the Memorandum of Understanding (MoU) for the fiscal year 2023-24, as per government sources. This exceptional accomplishment reflects the visionary leadership of Shantanu Roy, Chairman and Managing Director of BEML, and the company’s steadfast commitment to excellence. The Department of Public Enterprises (DPE) has recognized BEML’s stellar performance across multiple organizational parameters. These include value of production, overseas income, EBITDA as a percentage of revenue, return on capital employed, asset turnover ratio, and effective procurement and invoice management through GeM. Additionally, the company excelled in trade receivables management, procurement from MSEs, and health and safety initiatives, further enhancing its operational efficiency. The rating also highlights BEML’s strong governance practices, including substantial shareholder returns, effective board composition, and transparency in related party transactions.
BEML’s remarkable financial performance, marked by a historic dividend payout exceeding 200%, underscores its commitment to delivering value to its stakeholders. The company’s continuous strides in exports and innovative product development further solidify its position as a cornerstone of India’s self-reliance and technological advancement.
BEML has achieved significant milestones that underscore its pivotal role in nation-building. These include the delivery of India’s first Vande Bharat Sleeper Trainset, the successful test-firing of the 1500 HP engine for Main Battle Tanks, the development of India’s first Electric Rope Shovel, and substantial progress on the country’s first High-Speed Bullet Train project.