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Defence NewsDisinvestment-bound BEML pays dividend of Rs 5.625 crore to govt

Disinvestment-bound BEML pays dividend of Rs 5.625 crore to govt

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New Delhi: Bharat Earth Movers Limited (BEML), a Miniratna defence PSU under the Ministry of Defence, has paid a dividend of Rs 5.625 crore to Defence Minister Rajnath Singh in New Delhi on Monday. The dividend cheque was handed over by BEML's Chairman and Managing Director (CMD) Dr Deepak Kumar Hota to the minister. On the occasion Secretary (Defence Production) Raj Kumar and other senior officials of Ministry of Defence and BEML were present.

The BEML has declared a dividend of Rs six per share, i.e.,60 per cent of the equity share capital, which amounts to Rs 24.99 crore for the Financial Year (FY) 2019-20.

Incorporated in 1964, BEML is engaged in the design, development, manufacturing and after-sales service of a wide range of products for core sectors of the economy such as coal, mining, steel, cement, power, irrigation, construction, road building, defence, railway and metro transportation system &aerospace.

The BEML is a listed company and the government holds 54.03 per cent of the total paid-up capital of the company. As part of the mega-privatisation and disinvestment plan of Prime Minister Narendra Modi government, the government has initiated the disinvestment process of BEML. On January 3, the govt has invited initial bids from private firms for a sale of 26 percent stake along with management control in the defence and engineering PSU.

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Under its Defence segment, BEML offers high mobility and recovery vehicles, bridge systems, vehicles for missile projects, tank transportation trailers, mil, rail, wagons, mine ploughs, crash fire tenders, aircraft towing tractors, aircraft weapon loading trolley, etc.

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As on today, the BEML has an order book position of over Rs 11,500 crore which is under execution. This includes the supply of India’s biggest designed & developed 190T Dump Trucks to Coal India Limited, Driverless Metro cars (Unattended Train Operation-UTO) to MMRDA and High Mobility Trucks for Bridge Systems and Missile systems to Defence Services.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)

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