State-owned Bharat Earth Movers Ltd. (BEML) on Thursday 28 November announced securing an order win from the Chennai Metro.

In an exchange filing, BEML announced that the Chennai Metro had awarded it an order valued at Rs 3,658 crore. It said the earlier notification was made accidentally and withdrew it from the exchanges.

The scope of the order is for design, manufacturing, supply, testing, commissioning, employee training, and a full maintenance contract for 15 years of standard gauge metro rolling equipment. 

BEML’s Shantanu Roy stated that he adheres to the guidance for an EBITDA margin growth of 100 basis points for the current fiscal year.

BEML has not revealed the current status of its order book positions following this order victory, despite Roy’s statement in his 13 November interaction that the order book will increase by 30% from its present levels.

Additionally, management adhered to its 20% revenue growth target for the current fiscal year, which calls for half of income to come from the trains sector, 30% from the metro, and 20% from the mining sector. Additionally, Roy stated that the second half’s order inflow will increase by 65%.

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