BEML incorporated in May 1964 and commenced operations on 1 January 1965. It was completely owned and operated by India’s Ministry of Defence until 1992 when the government divested 25% of its holdings in the company. BEML is Asia’s second-biggest manufacturer of earth moving equipment, and it controls 70% of India’s market in that sector. Its stock trades on the National Stock Exchange of India under the symbol “BEML”, and on the Bombay Stock Exchange under the code “500048”. The company went for Follow-on Public offer (FPO) and constant the price band for its FPO between Rs. 1,020 and Rs. 1,090.
Bharat Earth Movers Limited (IAST: Bhārat earth mūvars limiṭeḍ), currently known as BEML, is an Indian public sector undertaking, with headquarters in Bengaluru. It manufactures different types of heavy equipment, such as that used for earth moving, transport and mining.
BEML has manufacturing plants in Kolar Gold Fields, Bengaluru, Palakkad, and Mysore. It has various regional offices throughout the country. KGF unit is the major unit accounting for the manufacture and assembly of a wide array of earth-moving equipment such as bulldozers and excavators. Railcoaches are created in the Bangalore complex, and the Mysore facility makes dump trucks and engines of various capacity.
BEML manufactures a vast range of products to meet the needs of mining, construction, power, irrigation, fertilizer, cement, steel and rail sectors. The earthmoving equipment covering bulldozers, dump trucks, hydraulic excavators, wheel loaders, rope shovels, walking draglines, motor graders and scrapers.
BEML has recently launched road headers and slides discharge Loaders for underground mining applications. railway products covering integral rail coaches, electric multiple units, rail buses, track laying equipment, and overhead equipment inspection Cars. BEML manufactures heavy-duty trucks and trailers and hydraulic aggregates for the transportation sector.
The company also produce high power diesel engines and heavy-duty hydraulic aggregates to meet specific customer requirements. The company plans to diversify into varied activities covering underground mining equipment, underground storage for petro-products, leasing and financial services and joint ventures abroad.