BEML Limited (BEML) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of BEML Limited stock ₹242, price ₹1,992, that is 87.8% below the price, quality 28 out of 100. Rating: strongly overvalued. Calculated from audited financials with 7 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range ₹440.99 – ₹996,967 · fair‑value band ₹205.30 – ₹313.96 · the ₹1,992 price screens above the ₹242.34 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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BEML Limited provides products and services to the mining and construction, rail and metro, power, and defense and aerospace sectors in India.
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The company offers high mobility vehicles, combat mobility vehicles, 1500 horsepower engines, aggregates for combat vehicles, aircraft towing tractors, aircraft weapon loaders, ground support and handling equipment, tank transportation trailers, milrail wagons, rocket motor casings for missiles, airborne structures and assemblies, and construction equipment for the defense and aerospace industries.
It also provides bulldozers, dump trucks, excavators, shovels/walking dragline, water sprinklers, motor graders, loaders, pipe layers, wheeled dozers, and tyre handlers to the mining and construction industries.
In addition, the company offers metro cars, electrical multiple units, maintenance vehicles, passenger trains, steel and aluminum wagons, and treasury vans to the rail and metro industries. It also exports its products. The company was formerly known as Bharat Earth Movers Limited.
BEML Limited was incorporated in 1964 and is based in Bengaluru, India.
Stock analysis
BEML Limited (BEML) currently trades at ₹1,992, while our model-based Fair Value estimate is ₹242.34, 88% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of ₹954.45 per share, and 0 of the 7 models we run sit above the ₹1,992 price.
Bear case: the Dividend Discount group reads lowest at ₹105.41, and 7 of the 7 models stay below the price. Data coverage for this calculation is low.
Scenario range: ₹205.30 (bear) to ₹313.96 (bull), the price of ₹1,992 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 28/100 (below-average quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
BEML Limited reported revenue of ₹43.5B in FY2026 versus ₹43.4B in FY2022, a compound +0.1%/yr. Reported net income was ₹1.4B in FY2026, compounding +2.4%/yr from FY2022.
Key figures
Market cap ₹166B (≈ $1.8B) Small · P/E ratio 27.9 · P/S ratio 0.91 · EPS (TTM) ₹71.43 · Dividend yield 0.5% · Net margin 3.2% · Return on equity 4.9% · Return on assets (EBIT) 8.3% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 29 out of 100 (medium confidence).
What moves the price
The share trades about 6% below its 52-week high and 47% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 8% fair-value upside, at −88%, BEML screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (₹99.41 to ₹1,552). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear₹205.30Fair Value ₹242.34Bull₹313.96
Price ₹1,992 · Downside -87.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 7 months old). Earnings retained since then (₹37.50 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
Residual Income₹241.53₹236.72₹241.6476
Gordon GGM₹72.69₹111.40₹146.4869
DDM Multi-Stage₹72.69₹99.41₹122.4567
All 7 models by family
Earnings-Based
Graham-Dodd₹115.41₹285.10₹369.3665
Dividend Discount
Gordon GGM₹72.69₹111.40₹146.4869
DDM Multi-Stage₹72.69₹99.41₹122.4567
Multiples
P/E Multiple₹267.31₹356.42₹445.5263
P/B Multiple₹1,164₹1,552₹1,94155
Asset-Based
NCAV (Graham)₹134.25₹203.40₹254.2554
Economic Profit
Residual Income₹241.53₹236.72₹241.6476
The fair value above starts from this blend and is adjusted for dilution from new shares.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.34/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+7.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+3.7%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+3.9%
Start year 2021 (pandemic). Over 10 years: +3.9% a year
Revenue growth 26 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.7%
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What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+1.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+0.5%
Dividend (yield on the price)0.5%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.0.5% vs 2.9%, steady
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.4% → 5%
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Conglomerates · 349 stocks
Beats the industry median on 2/13 measures
Overall it trails its industry peers.
Valuation
Quality Score28 · Bottom 25%
Fair Value upside−87.8% · Bottom 25%
Profitability
Return on equity (12 months)4.9% · Below median
Return on assets2.0% · Below median
Net margin (12 months)3.9% · Below median
Operating margin (12 months)−2.6% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)29.3% · Top 25%
Dividend yield (12 months)0.5% · Bottom 25%
Valuation Multiplesvs Conglomerates median · lower = cheaper
P/E (12 months)27.9× · Priciest 25%
P/B5.65× · Priciest 25%
P/S (12 months)3.66× · Priciest 25%
EV/EBITDA47.2× · Priciest 25%
PEG1.06× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 41
FUTURE (revenue growth)100· sector 32
PAST (return on equity)19· sector 24
HEALTH (low debt)100· sector 90
DIVIDEND (yield)11· sector 45
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "BEML Limited Fair Value". https://www.fairvalue-calculator.com/stock/BEML
Frequently asked questions
Is BEML Limited (BEML) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of ₹242.34 versus a price of ₹1,992, about 88% lower (overvalued).
What is the fair value of BEML?
Our model-based fair value for BEML Limited is ₹242.34 (as of Nov 6, 2026), built from audited fundamentals. The current price: ₹1,992.
What is the quality score of BEML?
BEML Limited has a Quality Score of 28/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for BEML Limited (BEML)?
Our model-based price target is the fair value of ₹242.34 (as of Nov 6, 2026) from 7 valuation models. Cautious scenario ₹205.30, optimistic scenario ₹313.96. It is a calculation from audited fundamentals, not an analyst target.
What is the BEML Limited stock forecast for 2026?
Our models put fair value at ₹242.34, about 88% lower versus a price of ₹1,992 (overvalued). Cautious scenario ₹205.30, optimistic scenario ₹313.96. The calculation is refreshed regularly with new filings.
What is the revenue of BEML Limited (BEML)?
BEML Limited reported trailing-twelve-month revenue of about ₹45.4B (latest available figure, as of Nov 6, 2026).
Does BEML Limited pay a dividend?
BEML Limited currently shows a dividend yield of 0.53% relative to its recent price (as of Nov 6, 2026).
How much is the dividend of BEML Limited (BEML) and when is the ex-dividend date?
BEML Limited pays a dividend of ₹10.60 per share a year, a dividend yield of 0.5%. The last ex-dividend date was Sep 22, 2026. A dividend has been paid every year since at least 2004. The payout ratio is 14.8% of earnings. Our assessment: Token dividend. At a yield of 0.5% the dividend is symbolic. On paper it is not fully covered by earnings or free cash flow, but at this size that hardly matters: even scrapping it entirely would cost less than 0.5% a year, and coverage ratios on amounts this small swing with ordinary working-capital movements. Judge this company on its business, not on its dividend.
What is the intrinsic value of BEML Limited (BEML)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For BEML Limited it is ₹242.34 per share (as of Nov 6, 2026), against a price of ₹1,992. It is the blended result of 7 valuation models in 5 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is BEML Limited stock overvalued or undervalued in 2026?
As of Nov 6, 2026, BEML trades above its calculated fair value: price ₹1,992, fair value ₹242.34, a gap of about −88% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of BEML?
No. The price is what the market pays today (₹1,992); the fair value is what the company's own numbers justify (₹242.34). For BEML Limited the two are ₹1,749 per share apart. That gap is exactly why we show both numbers side by side.
How much is BEML Limited worth?
The market values BEML Limited at about ₹166B (market capitalisation, as of Nov 6, 2026). Per share that is ₹1,992; our models calculate a fair value of ₹242.34 per share.
What do the bullish and bearish scenarios say about BEML?
Our models span a range for BEML Limited: cautious scenario ₹205.30, base ₹242.34, optimistic ₹313.96 per share (as of Nov 6, 2026, price ₹1,992). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BEML?
BEML Limited trades at a price-to-earnings ratio of 27.9 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹242.34 is built from several models across several years. Other multiples: PEG 1.1, P/B 5.7, P/S 3.7, EV/EBITDA 47.2.
What is the PEG ratio of BEML?
The PEG ratio of BEML Limited is 1.06 (P/E divided by earnings growth, as of Nov 6, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of BEML Limited (BEML)?
Balance-sheet figures for BEML Limited (as of Nov 6, 2026): return on equity 4.9%. They feed the Quality Score of 28/100, which measures business quality independently of the share price.
How far is BEML from its 52-week high?
BEML Limited trades at ₹1,992, about 6% below its 52-week high of ₹2,123 and 47% above the low of ₹1,350 (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of ₹242.34 is for.
Which stocks are comparable to BEML Limited?
From the same area (Industrials) we also value 3M Company, Honeywell International Inc, Swire Pacific Limited, CITIC Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is BEML Limited stock attractive at the current price?
The data as of Nov 6, 2026: price ₹1,992, calculated fair value ₹242.34 (−88%), Quality Score 28/100, from 7 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of BEML calculated?
We run BEML Limited through 7 models from 5 families: Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of ₹242.34 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. BEML Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of BEML Limited (BEML)?
The closing price on Nov 9, 2026 was ₹1,992. Our model-based fair value is ₹242.34, about 88% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with BEML Limited right now?
The price sits above even our optimistic bull case (₹313.96). The favourable scenario is already priced in. Weak quality (28/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Where does the earnings growth of BEML Limited (BEML) come from?
Earnings per share at BEML Limited grew +15.8 % a year from 2015 to 2026. Broken into its drivers: revenue per share +1.3 %, EBIT margin +18.0 %, tax rate −1.8 %, residual (interest, one-offs) −1.4 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of BEML Limited
How large is the market capitalisation of BEML Limited (BEML)?
The market capitalisation of BEML Limited is ₹166B (≈ $1.8B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of BEML Limited (BEML)?
The price-to-sales ratio of BEML Limited is 0.91 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of BEML Limited (BEML)?
Earnings per share at BEML Limited are ₹71.43 (price ÷ EPS = P/E 27.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of BEML Limited (BEML)?
The dividend yield of BEML Limited is 0.5% (payout 14.8%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of BEML Limited (BEML)?
The net margin of BEML Limited is 3.2% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of BEML Limited (BEML)?
The return on equity (ROE) of BEML Limited is 4.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of BEML Limited (BEML)?
On an EBIT basis the return on assets of BEML Limited is 8.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of BEML Limited (BEML)?
The operating margin of BEML Limited is −2.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at BEML Limited (BEML)?
Revenue at BEML Limited is growing +29.3% versus a year earlier (3y avg +3.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at BEML Limited (BEML)?
Earnings per share at BEML Limited are growing −37.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does BEML Limited (BEML) generate?
The free cash flow of BEML Limited is −₹2.6B (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does BEML Limited (BEML) carry?
The net debt of BEML Limited is ₹3.0B (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Thin data
Nov 6, 2026