Your Board of Directors has pleasure in presenting olK Annual Report of the Company along with Audited Financial Statement for the year ended 31.03.2025 as under:
Financial results:
(Rs. in crores)
| Particulars | 2024-25 | 2023-24 |
| Revenue from Operations | 4022 | 4054 |
| Value of Production | 3905 | 4056 |
| Profit before Depreciation, Interest and Tax | 531 | 486 |
| Finance costs | 54 | 39 |
| Depreciation and amortization expense | 71 | 64 |
| Profit Before Tax | 405 | 383 |
| Tax Expense | 111 | 100 |
| Profit After Tax | 294 | 283 |
| Other Comprehensive Income | 2 | 6 |
| Total Comprehensive Income | 296 | 289 |
| Profit available for appropriations | 1009 | 798 |
| Net worth | 2854 | 2643 |
Revenue from Operations
During year, Revenue from Operations is *4022 crores as against *4054 crores in the previous year down by 0.79%.
Profit Before Tax
With increased business contribution and continued focus on cost control, your Company registered a Profit before Tax of * 405 crores as against Profit before Tax of *383 crores in the previous financial year, up by 5.74%.
Value of Production
Value of Production is *3905 crores as against *4056 crores in the previous year, down by 3.72%.
Improvements/ achievements in other financial/ operational parameters are provided hereunder.
• Revenue of Mining & Construction business is up by 24% over the previous year.
• Revenue of Defence business is up by 41 % over the previous year.
• Revenue from operations per employee has gone up by 1.85%.
• Material consumption as a % of VoP is reduced by 0.80% over the previous year.
Exports:
Your company made exports aggregating ? 29S.82 crores (includes physical exports of l 42.21 crores and deemed export of 2 256.61 crores) and got export incentive of <13.52 crores during FY 2024-25 as against exports of l 1065.63 crores (includes physical exports of t 153.23 crores and deemed exports of i 912.40 crores) and export incentive of l 2.54 crores during the previous year.
BEML has been awarded as Star Performer Award for the year 2021-22 in product group "Railway, Aircraft Ships, Boats and related Products & Equipment: Large Enterprise" in "54* EEPC National award for Export Excellence" on 18* February 2025.
BEML has been awarded as "National Award" for Group 31: Railway, Aircrafts, Ships, Boats and Related Products & Equipment: LARGE Enterprise in "55* EEPC National award for Export Excellence" on 25* February 2025.
Order Book Position:
The order book position of your Company as on 31.03.2025 is * 14610 crores as against ? 11872 crores in the previous year. The Order book comprises of three business verticals, i.e., Mining & Construction, Defence & Aerospace and Rail &: Metro.
Performance vis-a-vis MoU:
Performance of your Company, in terms of the Memorandum of Understanding (MoU) signed with the Department of Defence Production,
Ministry oi Defence (MoD), Government of India, was rated as Excellent for tire financial year 2023- 2-1 and the rating for the financial year 2024-25 is under self-evaluation.
Transfer to General Reserve :
During the year under review, your Company has not transferred any amount to General Reserve.
Dividend:
Your Board of Directors approved an interim dividend of *5.00 per equity share i.e., 50% on equity shares of *10 each on 06.02.2025 which was distributed among the eligible shareholders. Additionally, your Board of Directors have further approved a 2nd interim dividend of *15.00 per equity share i.e.. 150% on equity shares of *10 each on 09.05.2025 which was distributed among the eligible shareholders.
Further, the Board of Directors have recommended a final dividend of *1.20/- per equity share i.e., 12?o on equity share of *10 each, aggregating to a total dividend of *21.20/- (i.e. 212% on equity share) for FY 2024-25, keeping in view the future prospects of tire Company and at the same time meeting the aspirations of the shareholders.
Your Company formulated a "Dividend Distribution Policy" which includes the parameters and circumstances in determining the distribution of dividend to its shareholders and/or retaining profits earned by tire Company in terms of Regulation 43A of the SEBI (listing Obligations and Disclosure Requirements) Regulations, 2015.
The said policy is posted on the Companys website httpsr/hvww.beinlindia.in/investors/
Change in Ihe Nature of Business:
There was no change in the nature of business of the Company during the year.
Material Change/ Commitment affecting the Financial Position:
No material change/ commitment has occurred affecting the financial position of the Company subsequent to the financial year ended 31.03.2025 till the date of this report.
Capital Structure:
There was no change in paid up share and authorized capital of the company during the year.
Finance:
The working capital requirements were met from the internal accruals and credit facilities availed from banks. There was no overdue instalment of principal and/ or interest to the banks.
M/s Care Ratings have reaffirmed CARE AA-; Stable/CARE A1+ for fund based facilities (Short term borrowings) and CARE AA-; Stable for nonfund based bank guarantee (long term bank facilities) & letter of credit facilities for an amount ol * 5,500 crores (* 4,500 crores are Secured Working Capital limits and ? 1000 crores are Unsecured Working Capital limits).
Details of credit ratings is being communicated to Stock Exchanges and the same are placed on Companys website
https://www.bemlindia.in/investors?1
Pursuant to SEBI notification and BSE Circular, BEML doesnt qualify under the eligibility criteria as Large Corporate (LC) for the year 2024-25 as per the framework provided. As mandated by the Ministry of Corporate Affairs, the financial statements for the year ended 31.03.2025 have been prepared in accordance with the Indian Accounting Standards (Ind-AS) notified under Section 133 of the Companies Act, 2013 read with the Companies (Accounts) Rules, 2014. The estimates and judgments relating to the Financial Statements are made on a prudent basis, so as to retlect in a true and fair manner, the form and substance of transactions and reasonably present the Companys state of affairs, profits and cash flows lor tire year ended 31.03.2025.
Tire Companys contribution to Central and State Exchequers were in the order of t 651.95 crores during the year by way of Customs Duty ? 140.4S crores, GST l 36-1.71 crores. Dividend ? lb. 13 crores, Other taxes & duties t 13.62 crores and Corporate Tax ?87.01 crores.
Internal Financial Controls:
The Company has various manuals such as Accounts, Cost Accounting and Pricing, Stores, Purchase, Audit etc. For easy reference, tire manuals are available in "BEML Bulletin Board" an internal portal, wherein the soft copies of Manuals are loaded. The soft copy of tlie Manuals can be viewed by employees concerned for compliance thereof. The manuals are in line with tire delegation of powers and are being updated periodically. Tire changes made, if any, to the manuals are circulated among all concerned and also updated in tire portal.
The internal audit process is designed to review the adequacy of internal control checks in the system and covers all significant areas of the Companys operations. Further the company has put in place adequate Internal Financial Controls (IFCs) with respect to Financial Statements. The adequacy of IFCs over financial reporting is covered by tire Statutory Auditors in their Audit Report. In addition, the details of the IFCs are included under the heading ‘Internal control systems and their adequacy in the Management Discussion & Analysis Report which forms part of this report.
Fixed Deposits:
The Company did not accept any fixed deposits during the year, and there was no outstanding Fixed Deposits at the beginning/ end o! the year. Accordingly, there was no default in payment of deposits/ interest thereon
Particulars of Loans, Guarantees or Investments:
As per tire provisions of Section 1S6 of tire Companies Act 2013, the details of Loans. Guarantees and Investments are given in the notes to the Financial Statement.
Strategic Disinvestment:
Ministry of Defence (MoD) vide its letter dated 01.12.2016 communicated that Cabinet Committee on Economic Affairs (CCEA) had accorded "in principle" approval for strategic disinvestment of 26% equity in the Company, out of Government of India shareholding of 54.03% along with management control.
BEML had appointed M/s Deloitte Haskins & Sells LLP, as consultants for advising, undertaking and implementing the Demerger of identified surplus/ non-core assets of tire Company which are not part of BEML strategic disinvestment.
For demerger, transfer and vesting of identified surplus/ non-core assets, BEML incorporated "BEML Land Assets Limited" (BLAL)
Later on, Petition was filed with MCA for approval of Scheme of Arrangement and on 2S.07.2022, MCA had passed order approving Scheme of Arrangement for demerger of "BEML Land Assets Limited" (Resulting Company).
In terms of Scheme of Arrangement, the identified surplus and non-core assets of BEML Limited have been transferred at their book value to BEML Land Assets Limited (BLAL) on the appointed day of demerger i.e. on 25.08.2022.
The transfer deeds between BEML & BLAL for assets in Bhopal, Dellii & Chennai were duly executed in the Office of the Sub Registrar at Bhopal, Dellii & Chennai on 21.03.2025,08.0-1.2025 and 21.05.2025 respectively. The execution of transfer deeds of other States is expected to be completed in due course.
Mysuru Land (Township & Factory) Township Land:
KIADB has issued e-Khata for 21.315 acres of BEML Township land on 15.03.2025 and Sale Deed registration is under process.
The unutilized portion of S5.646 acres of land was returned to KIADB on 20.02.2025.
Factory Land:
Against available possession certificates, sale deed has been executed on 28.11.2024 for 452 acres 16 guntas of land, e-Khata has been changed from KIADB to BEML Ltd on 06.03.2025.
BGML Land
BEML intends to (outright) purchase 28.35 acres of land from BGML lias been approved by the Honble Court and the requisite amount has been duly deposited with the court. The registration of the sale deed is currently in progress.
Directors & Key Managerial Personnel:
1. Appointment/ re-appointment of Independent Directors(lDs)
During the year 2024-25, no new appointment or re-appointment of the Independent Directors was made. In terms of section 149 of the Companies Act, 2013, the provisions of section 152(6) and (7) in respect of retirement of directors by rotation shall not be applicable to IDs. Pursuant to Schedule IV of the Companies Act, 2013, the appointment/ re-appointment of the Independent Directors would be formalized through a letter of appointment setting out the terms and conditions in case of their appointment, which is also placed on the web-site of the Company at www.bemlindia.in
2. Statement on declaration by Independent Directors
Independent Directors had lumished necessary declarations, in terms of Section 149(7) of the Companies Act, 2013, stating that they had fulfilled the criteria of independence as provided under Section 149(6) of the said Act and Rule 6 of the Companies (Appointment and Qualification of Directors) Rules, 2014 subject to the exemptions granted to Government Companies The Board reviewed the said declarations.
3. Change of Key Managerial Personnel
In terms of Article 97 of the Articles of Association of the Company, the President of India is vested with the power to appoint the Directors of the Company from time to time and also shall determine the term of office of such Directors. Accordingly, the following appointments on the Board of your Company were effected during FY 2024-25 as per the directives of the President of India:
(I) Smt Nishtha Upadhyay (DIN: 10654030), appointed as Government Nominee Director (Part Time official Director) of the Company vide MoD letter No.S (5)/2021-D (BFML), dated 29.04.2024. She took charge on 03.062024
(II) Shri Debi Prasad Satpathy (DIN: 10679597) appointed as Director (Human Resources) of the Company vide MoD letter No.S (4)/2023/D (BEML), dated 20.06.2024. He took charge on 24.062024.
(iii) Shri Rajeev Kumar Gupta (DIN: 1080382S), appointed as Director (Rail & Metro Business) of the Company vide MoD letter No.8(4)/2021- D (BEML), dated 09.102024. He took charge on 11.102024.
(iv) Shri Sanjay Som (DIN: 10811981), appointed as Director (Mining & Construction Business) of the Company vide MoD letter No.8(3)/2023-D (BEML), dated 16.102024. He took charge on 17.102024.
5hri Anil Jerath (DIN: 09543904), Director (Finance), and Shri Debi Prasad Satpathy, (DIN: 10679597), Director (Human Resource) are liable to retire by rotation at the ensuing annual general meeting and being eligible, offer themselves for reappointment.
Shri Rajeev Prakash (DIN 08590061) ceased to be Government Nominee Director of the Company w.e.f. 29.04.2024. Shri Ajit Kumar Srivastav, (DIN 0S7S3660) ceased to be Director (Defence Business) consequent upon attaining the age of superannuation w.e.f. 28.022025. Further. Shri Arun Daga (DIN 08783660), Shri Vikas Kakatkar (DIN 02372234) and Shri Siva Makutam (DIN 09450599), ceased to be Independent Directors of Company consequent upon completion of their tenure of three years on 23.12.2024. Apart from above, Smt. Urmi Chaudhury appointed as Company Secretary & Compliance Officer w.e.f 12.07.2024 in place of Shri Jai Gopal Mahajan. Hie Board placed on record its appreciation for invaluable services rendered by Shri Rajeev Prakash, Shri Ajit Srivastav, Shri Arun Daga, Shri Vikas Kakatkar. Shri Siva Makutam and Shri Jai Gopal Mahajan on the Board.
4. Remuneration of Director:
As per the provision of section 197(12) of Companies Act, 2013 read with rule 5 of Companies (Appointment and Remuneration of Managerial Personnel) Rule, 2014, every listed company is required to disclose the ratio of remuneration of each Director to the median employees remuneration and details of employees receiving remuneration exceeding limit as prescribed from time to time in the Board Report.
However, as per notification dated 5* June 2015 issued by MCA, Government Companies are exempted from complying with the provision of section 197 of Companies Act, 2013. Therefore, such particulars have not been included in Board Report.
Government Nominee Directors were neither paid any remuneration nor sitting fee for attending Board/ Committee meetings.
Independent Directors are paid sitting fee of 225,000 per meeting of the Board/ Committee of the Board attended by them.
Neither there was payment of commission to the Board of Directors nor any stock option scheme offered to them during tire year. Further, none of the Directors had any pecuniary relationship nor entered into any related party transactions with the Company during the year.
5. Number of meetings of Board:
During the year, eight meetings of the Board were held on 12.05.2024, 12.07.2024, 05 & 06.08.2024 19.09.2024. 11.11.2024, 20.12.2024. 06.02.2025 and
17.03.2025. Requirements on number and frequency of meetings, in terms of Section 173(1) of the Companies Act, 2013, Regulation 17(2) of Listing Regulations, and Para 3.3.1 of the DPE Guidelines, were complied with in full.
6. Directors Responsibility Statement:
Pursuant to section 134(3)(c) and 134(5) of the Companies Act, 2013, your Directors state that,
(a) in the preparation of the annual accounts for the year ended 31.03.2025, the applicable accounting standards have been followed along with proper explanation relating to material departures;
(b) the directors had selected such accounting policies and applied diem consistendy and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year 2024-25 and of the profit of the Company for that period;
(c) the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act. 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;
(d) the directors had prepared the annual accounts on a going concern basis;
(e) the directors had laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively.
(f) the directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.
7. Board Evaluation:
The Board of Directors of the Company comprises Functional Directors, Government Nominee Directors and Independent Directors appointed by the Government of India from time to time pursuant to Article 97 of Articles of Association of the Company. Further, the Government communication also indicates the detailed terms and conditions of their appointment based on applicability of the relevant rules of the Company
In view of the above, the performance of all Functional Directors and Government Nominee Directors is being evaluated by the Administrative Ministry every year based on own evaluation methodology. Further, considering the educational qualifications, age. rich and varied experience of the applicants, the Administrative Ministry/ Department would appoint the IDs on the Board on the recommendation of Search Committee after obtaining approval of competent authority. In addition, the assessment/ evaluation of performance of Independent Directors who will be completing their tenure/ seeking extension was undertaken by the Department of Public Enterprises through Administrative Ministry periodically. As per requirement of SEBI (LODR), Independent Directors in their meeting held on 19.12.2024 uiidertook the evaluation of performance of functional directors and the minutes of said meeting were placed in the subsequent Board Meeting for information of the Board.
Committees of the Board:
The following mandatory Committees required under Companies Act, Listing Regulations, DPE guidelines/ MoD Directives are constituted by the Board to function according to their respective roles and defined scope:
• Audit Committee
• Nomination and Remuneration Committee
• Stakeholders Relationship Committee
• Risk Management Committee
• Corporate Social Responsibility and Sustainability Committee.
• Procurement Committee
• Share Certificate Committee
The details of the Committees along with their composition, number of meetings held and attendance at the meetings are provided in the Corporate Governance Report as annexure to the Board Report.
Enterprise Risk Management:
It terms of Section 134 of the Companies Act, 2013, Regulation 17 & 21 of the Listing Regulations and Chapter 7 of DPE Guidelines, your Company lias constituted Risk Management Committee (RMC) and implemented Board approved "Risk Management Policy (RMP)" Further, the composition, reconstitution and the terms of reference in line with quorum, minimum number of meetings, gap between two meetings of RMC and Powers, roles and responsibilities of RMC as duly approved by the Board are incorporated/ amended in the RMP as per the SEBI Listing Regulations. With the induction of Independent Director, all Business Group Directors, Director (Finance), Director (HR) and Independent Director will be the members of the Committee and senior most Functional Director will head the Committee. During the year, one meeting of RMC was held on 06.08.2024.
The Corporate Risk Committee prepares the key risks along with mitigation plans and report to the Risk Management Committee constituted in terms of Regulation 21 of the Listing Regulations. The said key risks and mitigation plans will be placed before Audit Committee, which recommends it for review and approval of the Board.
The Board reviews the key risks along with mitigation plans and monitor the status on risk management periodically. Five RMP is placed on the Company s website
Renewable Energy Development, Energy Conservation, Research & Development, Technology Absorption and foreign exchange earnings and outgo:
In terms of Section 134 of the Companies Act, 2013 read with Rule 8 of the Companies (Accounts) Rules, 2014, the information on energy conservation, tecluiology absorption and foreign exchange earnings and outgo including the products developed by the Company during tire year is placed at Annexurc-I.
Related Party Transactions:
Pursuant to Regulation 23 of the Listing Regulations, your Company has formulated a "Policy on Related Party Transactions", to regulate transactions entered into between the Company and its related parties. Further, in terms of Regulation 46(2)(g) of the Listing Regulations, the said policy is placed on the web-site of the Company at https://www.bemlindia.in/investors
During the year 2024-25, all related party transactions (RPT) tliat were entered into with the related parties were fair, transparent and at arms length basis and also in the ordinary course ol business of the Company. However, pursuant to provisions of section 18S of the Companies Act, 2013, RPTs between two government companies are exempted.
The said related party transactions were also duly considered and noted by the Audit Committee. Information as required under section 188 in Form AOC-2, pursuant to Section 134(3)(h) of the Companies Act, 2013 read with Rule 8(2) of the Companies (Accounts) Rules, 2014, is attached to this report as Attnexure-ll
Compliance of applicable Secretarial Standards:
Your Company has complied with tire provisions of applicable secretarial standards with respect to Meetings of Board of Directors (SS-1) and General Meetings (SS-2) issued by the Institute of Company Secretaries of India in terms of Section 118(10) of the Companies Act 2013. Further, as stipulated in Standard 9 of SS-1, a statement on compliances of applicable Secretarial Standards is included in the Report of the Board of Directors.
Corporate Governance Report:
In terms of Regulation 34 of the Listing Regulations and Chapter 8 of the DPF Guidelines, a report on Corporate Governance (CG) compliance is included in the Boards Report. M/s Manish Mishra & Associates, Practicing Company Secretaries (PCS) have issued a Compliance Certificate on the same. In terms of Para 8.2.3 of the DPE Guidelines of CPSEs, the Companys compliance level as per the grading report on Corporate Governance is rated as Excellent with 90.00% (average for 4 quarters) for FY 2024-25 based on self-evaluation. The aforesaid report on Corporate Governance along with Compliance Certificate is placed at Annexure-ITI.
Management Discussion and Analysis Report:
In terms of Regulation 34 of Listing Regulations and Chapter 7 of the DPE Guidelines, report on Management Discussion and Analysis Report is placed at Attnexure-TV.
Business Responsibility & Sustainability Report:
A Business Responsibility <Sc Sustainability Report (BRSR) for FY 2024-25 in terms of Regulation 34 of Listing Regulations, describing die initiatives taken by the Company on environmental, social and governance perspective, in the format as specified by SEBI from time to time is placed at Annexure-V.
Corporate Social Responsibility & Sustainability Committee:
Your Company has constituted Corporate Social Responsibility & Sustainability (CSR) Committee and implemented Board approved "CSR Policy" pursuant to Section 135 of the Companies Act, 2013, read with Companies (Corporate Social Responsibility Policy) Rules. 2014 as amended from time to time and DPE Guidelines on MoU. Further, the composition, reconstitution and enhanced terms of reference as duly approved by the Board are incorporated in the CSR Policy.
On 31.03.2025, the Committee comprises of Shri Bipin Kumar Gupta, Independent Director as Chairperson, Shri Anil Jerath. Director (Finance) and Shri Rajeev Kumar Gupta, Director (Rail & Metro Business) as members. The CSR Committee met four times during the year on 08.05.2024, 11.07.2024, 06.08.2024 and 20.12.2024. An amount of *5.94 crores was spent during FY 2024-25 towards CSR activities which was more than 2% as stipulated under the Companies Act, 2013 and was in line with the Boards approved purposes and the same was certified by the Chief Financial Officer Director (Finance) and Chairman of CSR Committee. Annual Report on CSR activities for FY 2024-25 is placed at Annexure-VI.
Vigilance:
The Company has a Vigilance Department headed by an independent & full-time Chief Vigilance Officer. Dr. Sajid Farid Shapoo joined as the Chief Vigilance Officer (CVO) of BEML in November. 2024. Dr. Shapoo is an Indian Police Sendee (IPS) officer of 1998 batch of the Madhya Pradesh cadre. The Vigilance Activities were carried out in a holistic manner and covered prevention, detection and enforcement.
Vigilance is basically and admittedly a managerial function and, therefore, it is an integral part of the duties of an executive. CVO advises management on all matters pertaining to Vigilance. As an extended arm of the Central Vigilance Commission in its exercise of superintendence over Vigilance Administration of the Company, CVO provides the link to the Administrative Ministry and the CBI.
Complaints received by the Vigilance Department were handled as per Complaint Handling Policy of the Company & CVC guidelines. Such complaints were registered after owning and investigated only after determining "Vigilance Angle". The registered complaints are disposed after detailed investigation. During the year 2024-25 (April to March), one (01) registered complaints were carried forward from 2023-24 and four (4) fresh complaints were received, out of which four (4) complaints were disposed during the year.
Surprise checks, periodic checks, scrutiny of purchase orders/contracts, Scrutiny of TA/DA & Medical reimbursement claims, scrutiny of Annual Property Returns, four (4) CTE type of in-house inspections and four (4) system studies were conducted during the fiscal year 2024-25. Based on the outcome of these. Systemic Improvements were recommended to management & implementation/compliance, which mainly pertain to process improvements, management of procurement activities, contract, stores/inventory, Vendor assessment, weigh bridge operation, clearing of bills, quality of products/ aggregates etc.
From April 2024 to March 2025, 4009 vigilance clearances have been processed on-line (and some special cases off-line) for executives and employees of BEML on the SAMPARK Portal.
Vigilance Awareness Week-2024 (VAW-2024) with the theme "Culture of Integrity tor Nations Prosperity" was observed in the Company during 28* October 2024 to 4th November 2024 in line with the directives by Central Vigilance Commission (CVC). Citizens Integrity pledge was also administered to the Stati of BEML Limited as well as students and staff at schools and colleges and in some Gram Sabhas where the Company had organized events as part of observance of VAW - 2024. Also, many Guest Lectures by eminent personalities regarding with topics of current relevance were organized by Vigilance Dept at the respective locations.
New initiation - a Story telling was organised at Corporate office on 28.10.2024, BEML Shishya Public School in Bangalore on 29.10.2024 and the progrant was perforated by Sant Meenu Sivaramakrishan. KGF complex on 07.11.2024 program performed by Smt. Lavanya Prasad.
A Vendor Meet was organised at Corporate Office of BEML on 22nti October 2024 virtually & simultaneously across all divisions of BEML linked through Video Conferencing facility with Corporate /Divisional Executives and Vendors. There was active participation front vendors (around 110 vendors participated). CMD and all functional Directors and other senior officers of BEML have addressed the queries,-grievance raised by vendors.
In house magazine on vigilance awareness Wig- Kirait Ver.13 was published.
We are in the process of updating our vigilance manual to make it compliant with the CVC manual. Sensitization program had been conducted by in house faculties on the eve of VAW-24 across BEML Ltd and at some vendor premises too.
Whistle Blower Policy:
In terms of the provisions of Section 177 of the Companies Act, 2013, Regulation 22 of the Listing Regulations and Chapter 4 of the DPE Guidelines, your Company has formulated "Vigil Mechanism/ Whistle Blower Policy" for directors and employees to report genuine concerns. The said policy is placed on the Companys website https://www.bemllndia.ia/mvestors.: The policy provides for adequate safeguards against victimization of director/s or employee/s or any other person who avail the said mechanism and also provides for direct access to the Chairperson of the Audit Committee in appropriate or exceptional cases. The Audit Committee reviews tire functioning of the whistle blower mechanism periodically as per Schedule H (A)( IS) of Listing Regulations and Chapter 4 of DPE Guidelines. As per the said policy, none of the employees have been denied access to Audit Committee
Quality:
Your Company views quality improvement as a business strategy and hence remains proactive in the areas of product and service quality. At BEML, Corporate Quality Policy emphasizing Total Quality Management (TQM), ensures that
Products, Sendees and Processes meet stringent standards and requisite performance criteria. A separate Quality Department spearheads the thrust towards Total Quality Management.
All manufacturing divisions have been certified with latest Quality Management System (QMS) to ISO 9001:2015 Standard. Also, all the manufacturing divisions are certified with Environmental Management System (EMS) to ISO 14001:2015 Standard.
BEML Aerospace Division - Mysore Complex & Bangalore Complex have been accredited with AS 9100D certification.
Further, Bengaluru Complex and Palakkad Complex are certified for Occupational Health dc Safety standard as per ISO 43001:2018.
BEML has been awarded "EEPC India Quality Award for outstanding performance" under the PSU category.
BEML has facilitated involvement of executives & non-executives in the Quality movement through Quality Control Circles (QCC). During tire year 2024-25, 06 teams participated in the National Level Competitions. 02 teams were adjudged Par Excellence, 03 teams won Excellence award & 01 team was selected for Distinguished award.
07 Quality Circle teams participated in the ICQCC 2021 held at Colombo, Sri Lanka. 05 teams bagged Gold award and 02 teams won Silver award.
Key initiatives / actions taken during the year for continuous improvement towards Quality Assurance, are as under:
> Quality Assurance system is being continuously monitored across all tire inanutacturing divisions to ensure Quality improvements in Design. Processes, and Systems. Few initiatives taken through Cross Functional Team, towards Quality Improvement across the divisions are as under.
• 15 Executives have been trained & certified as Six sigma Black Belt" by Indian Statistical Institute covering all manufacturing units.
• 291 Kaizen projects were implemented across the divisions.
• 198 Quality Improvement projects were implemented to reduce rejections.
• 96 Nos. Jigs & Fixture were added and upgraded to improve manufacturing Quality.
• 383 Vendor visits and Vendor process Audits were carried out to improve Incoming Material Quality.
> Field Failure review meetings are being held regularly on various quality / service issues reported. Corrective and Preventive Actions are taken to address & close the issues.
Make in India Initiatives and Indigenizalion of products
BEML is committed to the "Make in India" (AatmaNirbhar Bharat) policy and considers it an opportunity to boost Indigenisation of Equipment to achieve cost benefits and also complement the stiengtlis ol private sector to build a strong industrial base.
BEML has been systematically indigenizing the products through extensive R&D efforts and lias achieved 90% in the mainline Mining & Construction products. Rail coaches & EMIs, over 97% in High Mobility vehicles (HMV 8x8) and 91% (HMV 6X6) and over 65% in Metro cars. Further efforts are underway to reach liigher levels.
BEML has nominated a Chief Indigenisation officer for Make in India drive and list of items for indigenization is hosted on Srijan portal website:
Under this initiative Company has designed and developed products as follows:
• Unveils Indias Biggest and Advanced Crawler Dozer - A Milestone in the Nations Mining Growth. Demonstrating Indias unmatched engineering dominance and self-reliance. Launched the BD475-2 Dozer—the nations biggest and teclinologically advanced crawler dozer ever created. Powered by a 950 HP engine, this state-of-the-art machine has been designed and developed entirely by in- house team of BEML.
• Launched its indigenously designed and manufactured High Mobility Vehicle (HMV) 12x12 at Palakkad complex. Developed for the Vehicles Research and Development Establishment (VRDE), DRDO, advancing the nations vision of AatmaNirbhar Bharat in strategic military assets. The HMV 12x12 is engineered for extreme terrains and challenging climatic conditions, It is powered by a BSIH compliant engine and features a 7-speed Allison Automatic Transmission, supporting a Gross Vehicle Weight (GVW) of 65 tons. The vehicle has been developed through BEMLs Futuristic Product Innovation and Incubation Centre (FPIIC).
• Launched indigenously designed and developed Motor Grader BG 1205 at Mysuru complex. Equipped with an impressive 24-foot blade, the BG 1205 has been meticulously crafted to meet the evolving demands of the mining sector. Designed especially for high-intensity operations in regions such as SECL Bilaspur and Northern Coalfields Limited (NCL) in Singrauii, this state-of the- art equipment is tailored to support the increasing need for efficient road-laying machinery capable of liandling high-capacity dumpers. With a focus on superior performance, the BG 1205 is set to enhance productivity, ensure operational efficiency, and contribute significantly to the sustainability of mining operations.
• BEML has manufactured Vande Bharat sleeper coaches. The train set has best in class interiors with GFRP panels (light weight & corrosion resistant material) combined with aerodynamic exterior looks, crash worthy features, modular pantry, ergonomically designed odor free toilet system and modem passenger amenities for travelers.
• BEML has fired Indias first indigenously manufactured 1500 HP Engine at Engine Division, Mysore for Main Battle Tanks (MBTs). The 1500 HP engine represents a paradigm shift in military propulsion systems, boasting cutting edge features.
• Tank transport trailer - SOT has been developed indigenously. SOT trailer is a 12 twin wheeled heavy duty trailer designed for rough terrain with a payload capacity of SOT. The trailers are used for transporting Battle tanks in Indian army and it is towed by BEML HMV SX8 vehicle.
During the year 202-1 - 25, your Company has indigenized 119 items.
Continuous efforts are on to reduce the import content further and increase Make in India content.
Integrity pact
Pursuant to the directives from Central Vigilance Commission and Ministry of Defence , Integrity pact is being adopted with all Vendors / Suppliers / Contractors / sendee proriders for all orders / contracts of value Z 1 crore and above.
The pact essentially envisages an agreement between the prospective vendors / bidders and the Company, committing the persons / officials of both sides, not to resort to any corrupt practices in any aspect1 stage of the contract.
Only those vendors / bidders, who commit themselves to such a pact with the principal, would be considered competent to participate in the bidding process.
Integrity pact, in respect of a particular contract, would be operative from the stage of invitation of bids till the completion of contracts. Any violation of the same would entail disqualification of bidders and exclusion ot for future business dealings.
Two Independent External Monitors (IEMs) have been appointed to review the cases on bi-monthly or quarterly basis.
During 2024-25 ? 2894.47 crores of purchase orders were released with Integrity pact out of total purchase orders value of 13601.39 crores.
e-Procuremenls
BEML Supplier Relationship Management (SRM) is aiming to establish web based seamless relationship and collaboration of procurement process with its Global business partners.
BEML endeavors to procure materials and services through e-procurement platform on ERP system. BEML upgraded the e-procurement software i.e SRM version from SRM-5 to SRM-7, which is having encryption facility for better security.
Online Vendor payment tracking option to check status of payments against supplier / sendees / payment orders.
Tender status updates are provided through automatic emails to bidders with reasons for rejections.
After opening of the price bids, all technically qualified / pre qualified bidders will be able to see the price details of other bids submitted against the tender.
During the year about 96% of the total requirement was sourced through e-procurement.
Procurement through GeM:
Government e-MarketpIace (GeM) is implemented by the Government with tire aim to transform the way in which procurement of goods and services is done by Government Ministries & departments. Public sector undertakings and other apex autonomous bodies of the Central Government. Procurement through GeM has been authorized by General Financial Rules by making necessary changes in government rules. GeM is a completely paperless, cashless and system driven e-market place that enables procurement ol common use goods and services with minimal human interface.
During the year 2024-25, materials worth 12857.23 crores have been procured through GeM out of the target value of l 2263.51 crores.
The same is being reviewed by the Audit Committee & the Board regularly.
Micro and Small Enterprises
Company is procuring materials required for production & for others tiuough Micro & Small Enterprises (MSEs). 358 items which are reserved are being procured exclusively from MSEs.
Appropriate weightage has been given tor MSEs in the MoU from 2015-16 onwards. As per the directive of Government, minimum 25% (Notified from 9* NovlS) of procurements Itave to be procured from MSEs amended from 20% earlier. Provided a minimum 3% reservation for women owned MSEs and 4% lor SC/ST Enterprises.
Further MSE procurement data is uploaded on "MSME SAMBANDH" portal on monthly basis.
During 2024-25, Company has procured l 1014.02 crores from MSEs out of t 3594.47 crores local procurement which constitutes 28% from MSEs.
Vendor Development:
Vendor development is a continuous process to identify arid develop new vendors to bring in competition among the vendors and to reduce costs. Following methods are generally followed to identity potential new vendors.
• Publication of Expression of Interest (Eol) in BEML Website.
• Listing of imported items in Srijan portal for Indigenisation.
• Participation in exhibitions and seminars (Including Virtual).
• Organize Vendor meets (Including Virtual).
Further, to encourage parts development following Eols have been published:
• Open ended Expression of Interest (Eol) lias been published in BEML website for registering the new vendors.
• Eol for development of the critical items.
• Import items have been listed in Srijan portal to identify potential Vendors for indigenization with details of photo, brief specifications, annual quantities required etc. Further Vendors showing interest in SRIJAN PORTAL is taken forward for evaluation k development of parts.
The procurements from Single source are being reviewed Quarterly by Audit Committee k Board.
The objective of Outsourcing k Vendor Development policy is to achieve cost effectiveness & improve competitiveness of Company in global market.
BEML recognizes outsourcing as one of the strategic tools to achieve cost benefits and also complement the strengths of private sector to build a strong industrial base. BEML is well on its journey to become a system integrator by outsourcing a substantial part of manufacturing activities from Indian vendors, enabling BEML to enhance the capacity, attain cost effectiveness and improve competitiveness in the global market.
As a policy BEML is not making any capital investment where facilities are available in the Indian industry. To facilitate outsourcing, the company has well established policies, procedures and guidelines.
• New vendors are supported by way of imparting knowledge on manufacturing processes, specifications, quality plans, etc.
• BEML also extends its testing facilities to its vendors wherever required
• To enhance transparency in all its procurement processes, BEML has well established e-Procurement Portal.
Further, as per the directives of Ministry of Defence, BEML has framed an "Outsourcing and Vendor Development Policy" as duly approved by the Board. Ihe objective of the policy is to enhance cost effectiveness and improve competitiveness of the Company in Global market. The other significant objective of this Outsourcing and Vendor Development Policy is to build a manufacturing eco system in the Country to attain self reliance. On the other hand, participation of Indian private industry will be an enabler in building technological and manufacturing capability inside the country. Based on the policy so framed, a Road Map for Vendor Development has been prepared with yearly targets and monitored at the Board level periodically.
Rajbhasha:
Tlie Hindi cell is functioning in tine Corporate office of the Company and also in all Complexes k Divisions. It is responsible for ensuring the compliance of the Official Languages Act, the Rules made there under and the administrative instructions regarding use of Hindi received from the Ministry of Defence and the Department of Official Language from time to time, under its manufacturing complexes and Regional/District Offices.
Compliance of Section 3(3) of Official Languages (OL) Act, 1963 Section 3(3) of Official Languages Act, 1963 has been complied with fully during the period under review and all the documents covered under this section have been issued bilingually. The position of die same is being monitored through die quarterly meetings of the Official Language Implementation Committee.
Hindi Fortnight Celebrations:
Hindi Fortnight was observed in the Corporate Office, ail Complexes and ROs/DOs from September 14. 2024 to September 28, 2024. During this period, executives and employees were motivated to do their maximum work in Hindi and competitions such as Hindi Crossword, Hindi Administrative Terminology, Hindi Quiz, Hindi Antakshari and Hindi Essay Competitions were organized. Instructions were issued to all offices to take the pledge on Hindi Day i.e. on September 14. 2024 in accordance with the guidelines issued by die Ministry of Defence and Department of Official Language, Ministry of Home Affairs.
Third All India Official Language Conference:
Four executives attended Hindi day and Fourth All India Official Language Conference at Bharat Mandapam, New Delhi held on 14* and 15* September, 2024 conducted by Department of Official language. Ministry of Home affairs, Govt of India.
Hindi Training:
Training in Hindi Prabodh, Praveen and Pragya courses were conducted at corporate office and all complex offices, ROs and DOs for January-May, 2024 and July-November, 2024 and a total of 259 executives / non-executives (PrabodhrSO; Praveen : 82 and Pragya: 97) have been trained in these two sessions.
Incentive scheme for original work in Hindi:
Cash incentive scheme for original work in Hindi has been implemented in the Company.
Hindi Online Workshop:
In continuation of the practice of conducting all India level Hindi workshop through Online by BEML, the Corporate office and other offices on turn basis have conducted a total of 12 Hindi workshops and a total of 578 executives/non- executives across BEML were trained.
Parliamentary Committee on Official Language Inspection:
The first sub-committee of the Parliamentary
• Committee on Official Language has inspected the following offices and expressed their satisfaction over die progress achieved in Hindi across BEML.
| Office | Date of Inspection |
| KGF complex and Bangalore complex | 22.01.2025 |
North-East region Hindi Kavi Sammelan:
In compliance of the assurance given to the Parliamentary Committee on Official Language inspection, a Hindi Kavi Sammelan was organized on 02 December, 2024 at Kolkata covering the Regional and District offices situated in East and North-East regions.
MHA inspection on Official language inspection:
Dy. Director (OL), Regional Implementation
Office, Kolkata MoD, New Delhi has inspected BEML Regional office, Sambalpur on official language aspects on 20.11.2024.
Internal Rajbhasha Inspection:
A total of 05 internal Official Language inspections have been done by Sr. Executives of Corporate office at various offices of BEML during the year 2024-25:
| S.No. | Date of Inspm | Inspn. Officer | Office |
| 1 | 02.09.2024 | Bikash Bhakat AsstManager-OL | RO, Ranchi |
| 2 | 03.09.2024 | Bikasli Bhakat AsstManager-OL | RO, Dhanbad |
| 3 | 04.09.2024 | Bikash Bhakat Asst.Manager-OL | RO, Kolkata |
| 4 | 05.09.2024 | Bikash Bhakat Asst.Manager-OL | DO, Asansol |
| 5 | 26.02.2025 | Bikash Bhakat Asst.Manager-OL | DO, Bhubaneswar |
Other achievements:
• Hindi version of the Questionnaire has been prepared for submission to the Horizontal Examination of tlve Subject "Land Holding Optimization in select CPSLs"
• Translation work of Companys .Annual report lias been completed and submitted on time.
• Companys Hindi house magazine "Kliistij" lias been released in the month of March, 2025.
• /All translation work and Hindi typing work relating to Annual Reports, Comptroller and Auditor General Audit Paras, Technical Reports, Memorandum of Lnderstanding, Reports on
SC6T, RTl Reservation policy, Standing orders, Product Profiles, Advertisement Materials and important standard forms were printed and published bilinguallv.
Manpower
Tlie number of employees of the Company as on 31.03.2025 stood at 4755 as against 4884 for the previous year, reduction of 2.64%.
The category-wise number of SC/ ST and Ex Servicemen employees as on 31.03.2025 and representation of SC/ SI and Ex-servicemen as of the same date as compared to total strength is as under:
| Category/ Group | Total Strength as on | No. of SC/ SI and Ex-Servicemen | ||||||
| 31.032025 | 31.032024 | SC | ST | Ex-Servicemen | ||||
| 31.03. 2025 | 31.03. 2024 | 31.03. 2025 | 31.03. 2024 | 31.03. 2025 | 31.03. 2024 | |||
| Group A | 1814 | 1755 | 345 | 325 | 109 | 108 | 17 | 17 |
| Group B | 147 | 111 | 36 | 29 | 14 | 12 | 0 | 0 |
| Group C | 2791 | 3012 | 685 | 732 | 201 | 210 | 170 | 192 |
| Group D | 3 | 6 | 3 | 4 | 0 | 0 | 0 | 0 |
| I otal | 4755 | 4884 | 1069 | 1090 | 324 | 330 | 187 | 209 |
v Excluding Board level Executives & CVO on deputation Recruitment of SC/ ST/ OBC/ Economically Weaker Section (EWS)
The Company has adopted best practices tor providing equal opportunities and harmonious environment for advancement of SC, ST, OBC and EWS. Recruitment made under SC/ ST/ OBC/ Economically Weaker Section (EWS) during year is as under;
| Category/ Group | OBC | SC | ST | EWS | ESM |
| Group A | 58 | 33 | 6 | 2 | 3 |
| Group B | 3 | 3 | 2 | 0 | 0 |
| Group C" | 38 | IS | 9 | 1 | 0 |
| Total | 99 | 54 | 17 | 3 | 3 |
*Inductcd as BEML Trainees and will be absorbed into permanent Roll after completion of training and contract engagement
Apart from these, 63 Junior Executives were engaged on Fixed Tenure basis belonging to SC, ST, OBC and EWS.
Particulars of Employees
There were no employees of the Company who received remuneration in excess of the limits prescribed under Rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.
Industrial Relations:
The transparent and continuous communication with all Employees in the shop floor is the driving mantra of smooth and peaceful Industrial Relations scenario in tire Company The thrust was given to participatory culture which was instrumental in maintaining a constructive harmonious relationship between the Management and the Unions/ Associations. Regular Meetings with the representatives of the recognized Unions/ Officers Associations at the Divisional, Complex and Corporate Levels were held and employee related issues were resolved amicably. Functioning of various bi-partite Committees at Complex level focused on improvement of overall performance of the Company and resolved the issues in production related matters.
Skill Development Initiatives (SDI)
BEML in its journey of 61 years and being an Engineering Company, facing aggressive competitions from MNCs. BEML has to be on a continuous training-path to learn, absorb & apply latest technology across its product lines under various business verticals.
Employees and their Knowledge & Skills are the key factors for retaining the Competitive edge. Thus, Training has become a vital part of every business activity at BEML and its importance would increase with the fast-changing technology, product life and market requirements.
Human resources development and industrial relations include number of emplbyees/executives undergone training in India and abroad and number of man-days spent on training:
| Number of employees/executives undergone training in India and abroad | Number of man-days spent on training |
| Executives: 645 | Executives: |
| Non-executives: 540 | 7748(Achieved)/4335(Target) |
| Programme felicitated by SCOPE (AGLP 2.0) where 6 | Non-executives: |
| senior management executives attended for a duration of | 36S8(Achieved)/5006(Target) |
| 14 days abroad as a part of International immersion. |
The Highlights of Skill Development initiatives during 2024-25:
a) Training Programme on Six Sigma Black Belt:
• Training Programme on Six-Sigma Black Belt was conducted in corporate office. It was conducted through M/s 1ST Bangalore covering 15 participants. The participants have taken the live projects as the part of the certification programme.
b) DPE Sponsored Training Programmes & Workshops;
- Department of Public Enterprises (DPE), Ministry of Finance takes initiative to tie-up with top Academic institutions (including HMs, HTs, ASCI,) and Professional Bodies (AJNIPM, NIFM, SCOPE etc.) for Training Programmes & Workshops (through Classroom & on-line sessions).
- I he above process involves deep scanning of PMS/TNT data, ADC
Reports, HOD inputs & approval process, post-which the registration process involves Adhaar seeding, OTP verification, seats availability (among the 300 participating organisations).
• Executives have been nominated for various programmes (7 Training Programmes), 10 executives across complexes have attended and registered through OTNS for specific programmes.
c) Centre of Excellence (CoE):
BEML established its Centres for Excellence (CoE) at all major manufacturing Complexes to continuously learn, train and improve the technology, be it in field of Engine development, Metro Coach Fabrication, Aerospace etc. BEML also believes in developing people capability across the value chain including tire Contract Workmen to retain their relevance and employability.
KGF Complex: AtKGF, School of Hydraulics & Welding is specialized in Hydraulic system and Welding Process Training on BEML Equipment.
Bangalore Complex: CoE at Bangalore Complex imparts Training in Stainless Steel Welding and Wire-Hamessing to support the Metro Car manufacturing. This CoE also provides Skill Training on Crane operations to Contract Operators & BEML Employees.
Mysore Complex: Mysore Complex houses specialized CoE in Electrical & Electronics systems for heavy equipment like Dumper, Motor Grader etc. The Centre also provides intensive practical & theorical Training on Calibration, Wire-Hamessing, Trouble Shooting of Equipment.
Palakkad Complex: CoE at Palakkad specializes on Power-Train mechanism including Axle, Engine, Transmission, Differential Assembly & Electrical system of heavy vehicles like TATRA and other equipment used for Defence Applications.
d) Apart from the regular training programmes at all locations (KGF. Bangalore, Mysore, Paiakkad Complexes. Marketing Division & Corporate Office), the Executives/Non- Executive participated in the specific training programmes are as follows:
| SI No | Title at the Programmes | From Date | To Dale | No ut (Xiy? | Venue | Organizer | Na Attended | Location |
| 1 | Executive diploma in Protect management | 22.04.2024 | 27.04-2024 | 6 | The Lain Ashok, Bangalore | I2P2M | 5 | Corporate Office |
| 2 | Power Transformer | 17.06.2024 | 19.06.2024 | 3 | Hitachf Energy TEC. Maneja, Vadodara | Central Board of Irrigation & Power (CBIP) | 5 | Corporate Office |
| 3 | Project Management | 20.05-202-1 | 25.052024 | 6 | BEL Academy ot Excellence | BEL | 8 | Corporate Office |
| 4 | Latest Threats, Trends & Mitigation Methods in Cyber Security | 29.052024 | 29.052024 | 0.5 | Corporate Office | Mr Sukrit Ghosh. Associate Director of Data Security Council or India (DSC!) | 35 | Corporate Office |
| 5 | Webinar on AT. ML and Deep Learning | 22.072024 | 24.072024 | 3 | Corporate Office | Indian Statistical Institute | 2 | Corporate Office |
| 6 | EDPM | 22.072024 | 27.072024 | 6 | FERN Residencv * Yeswanthpur | I2P2M | 6 | Corporate Office |
| 7 | Prolessional Development Programme on Machine Learning & Artificial Intelligence | 03.032025 | 07.032025 | 5 | ESQ. Gachibowii. Hyderabad | Engineering Stan College of India (ESCI) | 4 | Corporate Office |
| 8 | SL\ SIGMA BLACK BELT | 01.07.2024 | 06.072024 | 6 | M/s INDIAN STATISTICA L INST. BANGALOR E | HQ | 4 | Mysore Complex |
| 9 | Welding certification - TIG/MJG | 16.042024 | 25.052024 | 6 | HKD SEMINAR HALL BC | Internal | 9 | Bangalore Complex |
| 10 | Welding certification - TIG,MIG | 03.06.2024 | 22.06.2024 | 6 | CoE-Welding School | Internal | 3 | Bangalore Complex |
| 11 | Welding certification TIG/MIG | 02X172024 | 26.072024 | 6 | CoE Welding School | Internal | 12 | Bangalore Complex |
| 12 | Welders Certification Training at Palakkad Complex | 05.102024 | 09.102024 | 5 | Workshop Palakkad Complex | Internal | 26 | Bangalore Complex |
| 13 | 5S.6 Sigma&Kauen Techniques | 16.05.2024 | 16.05.2024 | 1 | Centre of Excellence. KGF Complex | M/s.Rays Consultancy Services, Bangalore | 25 | KGF Complex |
| 14 | Supervisory Development | 21.05.2024 | 21.052024 | 1 | Centre of Excellence. KGF Complex | M/s.Rays Consultancy Services, Bangalore | 25 | KGF Complex |
| 15 | Lean Management | 21.062024 | 21.062024 | 1 | CENTRE OF EXCELLENC E, KGF COMPLEX | M/S.RAYS CONSULTANC Y SERVICES, BANGALORE | 25 | KGF Complex |
| 16 | Communication Skills | 09.092024 | 09.092024 | 1 | Centre of Excellence. KGF Complex | M/s.Rays Consultancy Services, Bangalore | 23 | KGF Complex |
| 17 | Heat Treatment Process | 12.072024 | 12.072024 | 1 | Centre of Excellence | M/s.Ravs Consultancy Services. Bangalore | 25 | KGF Complex |
| 18 | CNC Machining, Tooling & Appln | 13.072024 | 13.072024 | 1 | Centre of Excellence | M/s.Rays Consultancv Services, Bangalore | 25 | KGF Complex |
| 19 | Advanced Gear Tedmologv | 11.072024 | 11.072024 | 1 | Centre ol Excellence | M/s.Rays Consultancy- Services. Bangalore | 25 | KGF Complex |
| 20 | Assembly Techniques | 06.09.2024 | 06.092024 | 1 | Centre of Excellence, KGF Complex | M/s.Rays Consultancy- Services, Bangalore | 25 | KGF Complex |
| 21 | Machining Process | 23.092024 | 23.092024 | 1 | Centre of Excellence, KGF Complex | M/s.Rays Consultancy Services, Bangalore | 24 | KGF Complex |
| 22 | Training on Welding | 03.092024 | 03.092024 | 1 | Centre of Excellence. KGF Complex | M/s.Rays Consultancy- Services, Bangalore | 20 | KGF Complex |
| 23 | Total Qualm- Management | 04.12.2024 | 04.122024 | 1 | Training Hall. PalaWcad Complex | M/s Seventh Sense Talent Solutions | 18 | Palakkad Complex |
| 24 | Project Management | 20.052024 | 20.052024 | 1 | M/s BEL. BAXGALOR E | HQ | 1 | Mysore Complex |
| 25 | NDT Level - II | 17.062024 | 20.062024 | 4 | Bangalore | M/s TRINITY INSTITUTE | 1 | Mvsore Complex |
| 26 | NEW 7QC TOOLS | 15.112024 | 15.11.2024 | 1 | QCFJ | M/s QCFL MYSORE | 6 | Mysore Complex |
| 27 | POKA YOKE /LEAN TOOL TRAINING | 07.02.2025 | 07.022025 | 1 | L&T | QCFL MYSORE | 3 | Mysore Complex |
Awards and Recognitions received by the Company related to Skill Development Initiative:
a) CI1 Awards on Excellence tor Women in STEM is an initiative, committed to promoting & enhancing the representation of Women in Science, Technology. Engineering & Mathematics (STEM) in Industry and Institutes.
BEML as an organization participated for CD Awards on Excellence in Women in STEM. Accordingly, we were selected and recognized as one of the Top Companies Excelling in Women in STEM 2024, felicitated in November, 2024.
b) Golden Peacock HR Excellence Award co felicitated by Institute of Directors (TOD) has been instituted to stimulate and help organizations to rapidly accelerate the pace of stake-holder oriented improvement process. It is a powerful self-assessment process and a way to build an organizations brand equity on HR Excellence in Engineering category, BEML was selected as "Winner of Golden Peacock HR Excellence Award for the year 2024 by the Awards Jury under the Chairmanship ol Honble Justice U. U. Lalit, former Chief Justice of India, felicitated in February 2025.
Compliance under Persons with Disabilities Acl, 1995:
In terms of various provisions under The Persons with Disabilities (Equal Opportunities, Protection of Rights and Tull Participation) Act, 1995 (PWD Act), your Company has ensured reservation of vacancies for the posts identified for each disability and earn, forward of vacancies which could not be filled up due to non-availability of suitable persons with disability during die year.
Grievance Redressal System for SCs/STs:
The Company has constituted SC/ST Cell at all Complexes/ Divisions in terms of Department of Personnel & Training (DOPT) guidelines and Cell Officers are nominated at each Complexes, wherein the HR heads, being Liaison Officers of the respective Complex/ Division are conducting periodical meetings with respective representatives of SO ST Employees Welfare Associations to redress the grievances/ issues appropriately. Further, die Chief Liaison Officer who is in the rank of Executive Director/ Chief General Manager/ General Manager meets all the Cell Officers, Liaison Officers and Office Bearers of SC/ST Welfare Associations periodically and monitor the status on redressal of grievances.
Public Grievance Redressal through CPGRAMS:
The Department of Administrative Reforms and Public Grievances under the Ministry of Personnel, Public Grievances and Pensions has initiated Centralized Public Grievance Redress and Monitoring System (CPGRAMS), which is die platform based oil web technology primarily aims to enable submission of grievances by the aggrieved citizens for scrutinizing and acting for speedy redressal of these grievances.
For this purpose, Company has nominated Chief General Manager (HR) as the Nodal Officer to deal with various public grievances raised through CPGRAMS platform and to ensure prompt and proper feedback to die concerned persons.
Prohibition of Sexual Harassment of Women at Workplace:
Internal Complaints Committee (ICC) has been constituted as per Sec 4(1) of the Sexual Harassment of Women at Work Place (Prevention, Prohibition & Redressal) Act, 2013. The same is functional in all the Complexes/ Divisions for receiving complaints of Sexual Harassment if any, and it has been displayed in all the prominent locations across the Complex/ Divisions for the information of all the Women employees. No Complaint Iras been received under this Act, during the year 2024-25.
Also, the Sexual Harassment of Women at Work place is notified as Misconduct as per BEMI CDA Rules, 2019 applicable to Officers and Certified Standing Orders applicable to Workmen.
Labour Welfare Activities:
The Company has extended all help and support to the Labour Welfare Fund functioning in dre production units for the benefits of Employees, their dependents and local population. The I WF conducted training programmes in Tailoring, Driving, Computer, Typing / Shorthand course. Diploma course in Laboratory Technology, Para medical, Job oriented courses, Music / Dance classes, Spoken English course. Summer camps for Art/Painting and sports and various entertainment activities.
Welfare Activities:
Welfare facilities like Medical. Housing / HRA, Canteen, Transportation are provided to all the Employees. Besides Educational facilities (BEML Schools) are provided for employees children at KGF and Bangalore. Sports and Cultural events / activities are being organised.
Apart from the above facilities, various schemes viz, BEML Executive Superannuation (Pension) Scheme, BEML Post Superannuation Medical Benefits Scheme, Group Insurance Scheme.. BEML Life Risk Coverage Insurance Scheme, BEML Death Relief Fund (DRF) are in operation for the benefit of Executives & Non-Executives.
Safety Measures in BEML.:
Following Safety measures liave been adopted in the Company to ensure safe workplace and avoid accidents:
• Health and Safety Policy is formulated with an objective to provide safe and healthy working conditions for the prevention of work-related injury and ill health.
• Safety related issues / concerns are discussed at SHE Committee Meeting to ensure consultation and participation of workers in issues related to Safety.
• Hazard Identification and Risk assessment (HIRA) is carried out to proactively identify Hazards and take corrective actions.
• Operation Control Procedures are in place to ensure controls are established for all tire critical manufacturing process.
• Tire Complexes have a full-fledged Fire arid Emergency department Safety Department and an Occupational Health Centre to ensure effective response to emergencies.
• Regular Mock Drills are conducted to ensure swift response to potential emergency situations.
• Regular Safety, Health and Environmental awareness training are given to workmen through Internal / External Faculty for creating safety awareness amongst workers;
• Safety promotional activities like celebration of National Safety Day to inculcate the spirit of Safe Workplace.
• Regular Safety Inspections, audits and surveys are conducted to identify Unsafe acts ami conditions and take necessary corrective actions.
• Reporting and investigation of "Near Miss" incidents and taking effective corrective actions.
• Work-permit system is followed for high-risk activities.
• Even though all efforts are made to eliminate hazards, Personal Protective Equipment (PPE) as a Last step in hierarchy of controls are provided to workmen.
• Regular testing and certification of statutory appliances like Cranes, Lifting tackles and pressure vessels through Third party Competent person.
• Bangalore Complex is certified for Occupational Health and Safety Management System (OHSMS) ISO 45001:2018 and similarly KGF, Mysore and Palakkad Complexes are under die process of obtaining the certification of OHSMS ISO -45001:2018.
Environment and Pollution Control and Afforestation Measures
i. Joint Tree Plantation Program:
Ek Ped Maa Ke Naam Campaign: As part of an environmental commitment, BEML organized tree-planting activities across all complexes/Oflices. Executives and Non Executives planted a tree in the name of their mother, with photographs taken as a tribute to both the environment and personal heritage. During the period from April 2024 to March,2025 a total of 6000 Nos. of Tree Saplings have been planted / distributed across company.
ii. Energy use and Conservation Measures: Clean & Green Energy: The Companys 5MW Windmill at Gadag and 18 MW Windmill at Bagaikot Districts in Karnataka have contributed towards ensuring clean & green energy by mitigating 20212 Tons (approx) of Carbon up to March 2025.
iii. Electric Vehicle to Promote Sustainability
(a) Donated 03 Electric vehicles to All India Institute of Medical Sciences (AIIMS) Delhi:
The company lias donated (03) Electric vehicles to All India Institute of Medical Sciences (AIIMS) Delhi. This initiative is designed to enhance patient transportation within the hospital campus, ensuring seamless, eco- friendly mobility for those in need.
Company contribution aligns with its vision of sustainable innovation, reducing the carbon footprint in healthcare facilities while prioritizing patient comfort and accessibility. The newly deployed electric vehicles will significantly aid senior citizens and patients with mobility challenges, enabling efficient and effortless movement across the AIIMS campus.
(b) E-Tourist Vehicle Passenger for Dr.
B. R. Ambedkar National Institute of Technology Jalandhar.
Tire company has generously supported (02) E-Tourist Vehicle Passenger for Dr. B. R. Ambedkar National Institute of Technology Jalandhar. The Electric vehicle are being used for public transportation for students, faculty, staff & visitors. The advantages of using Electrically Operated Vehicle (Environmental Sustainability) in the campus for public transportation are for Reducing Carbon Footprint of the Institute, Lower Air Pollution & Noise Pollution Reduction.
(c) Installation of Solar Energy Security Lights through M/s Central Ordnance Depot (CoD), Dehu Road, Pune
Installation of Solar Energy Security Lights were carried out at Dehu Road. Pune. Expenditure incurred on this project was ^ 7.91 lakhs. This will ensure better mobility in the area during night hours.
(d) Installation of Solar Power Backup Systems in ST Girls Hostel at Aspirational District, Orissa
To support female education, company extended support lor Installation ol Solar Power Backup systems in Girls Hostel through Kalinga Kusum foundation. Installing solar power back up in hostel support the students to spend more time on their studies, even during power outages.
Healthcare
The Medical facilities to Ex-BGML Employees and their Dependents:
The Company lias been extending tree medical facilities by conducting free Mobile Medical camps to Ex-BGML Employees and their families alter the closure of BGML Hospital. The Company is also extending Out-patient medical facilities by deputing Doctor and Para-medical staff to BGML areas such as Marikuppam, Champion Reef and Oorgaum. Medicines prescribed by the Doctors are being dispensed free of cost for general illness. During FY 2024-2025, 21 camps were organized benefiting 1082 people.
i. Eradication of TB
As a part of Pradhan Mantri TB mukt Bharath Abhiyan, A government initiative- hi order to achieve the goal of TB elimination by 2025 a health camp and TB screening camp was organized.
The camp was conducted in coordination with District health authorities— DHO and team, NCD team, NTEP team, Doctors irom Mysore medical college, JSS medical college and government hospital [PHC and taluk hospital) also participated in the camp.
Nutrition kits were distributed to 150 TB patients (KGF-80, Bangarpet-70 Kolar -50) for 03 months to end TB. So far ? 2.18 lakhs has been spent on this project. The kits provide additional health support to TB patients which help in eradicating the disease.
ii. Medical Assistance:
Medical Centers for Executives/ Non- Executives and dependent family members at all the three Manufacturing Units viz., Bangalore, Mysore and KGF are operational. Medical facilities are also extended to the villagers in Company adopted Dasarahosahaili, Ajjapalli village near KGF. Medical taciiities are also being extended to all the Contract Labour, in the Company Medical Centre.
The Company is also extending the Medical Insurance taciiities for the benefit of retired Executives/ Non-Executives & their spouses for Medical treatment / Hospitalization.
iii. Indian Association of Blood Cancer & Allied Diseases:
The Company has extended CSR Support for Indian Association of Blood Cancer & Allied Diseases to provide medical care to children, suffering from blood cancer, blood diseases like thalassemia etc. and educating professionals in the public areas of hematology, blood disorder, HIV/AIDS prevention and cancer care.
iv. Support extended towards children born with clubfoot in Karnataka through Serve Together Foundation
The company has extended support towards children bom with clubfoot in Karnataka. Through this contribution, a significant number of children with clubfoot have been provided with the necessary medical treatments and rehabilitation. The aim of tliis initiative is to ensure that children bom with clubfoot receive proper care and support, helping them lead healthier, more fulfilling lives.
The grant, which was used to cover treatment costs, Non-surgical interventions has already- made a remarkable impact on the lives of 41 beneficiaries across various regions in Karnataka.
v. Support extended towards procurement of 3 Hemodialysis machine for Dialysis of CKD Patients through Bangalore Kidney Foundation, Bangalore
The company has contributed funds for procurement of 3 Hemodialysis machine for
Dialysis of CKD Patients through Bangalore Kidney Foundation, Bangalore. Conducted 234 dialysis for CKD Patients.
vi. Distribution of nutrition Food for children through M/s Sevabharathi
Distribution of nutrition Food, free tuition for children living in urban slums. Cost of this project was S20.00 lakhs. Number of beneficiaries were 600. This will help students suffering from malnutrition.
vii. Support for Annadaan program to Akshaya Patra Foundation
The Company in association with the Akshaya Patra Foundation has provided support for "Annadaan" to serve Mid-Day meals to Government and Government Aided school children from Marginalized communities to meet their nutritional requirements through nutritious food for education. Cost of this project was ?10.00 lakhs. Number of beneficiaries were 6,628.
Contribution to Armed Forces Flag Day Fund.
Keeping in view the sacrifice of the war heroes of the country, the Company has contributed towards the Vocational Training Grant of Widows. The Company has expressed its solidarity for the welfare of the family of the War Heroes.
Education
BEML runs one Junior College and two Primary & Nursery Schools at KGF and one at Bangalore. These Institutions, although meant primarily tor the children of the employees but also caters to a large extent to the local population. BEML also runs a Kendriya Vidyalaya at KGF, for the benefit of the employees children and also for the local population. The Company also provided School building. Furniture. Attender for Mid-day Programme and Security Personnel for the Government English Model Higher Primary School. For the Academic Year 2024-25, the Company is providing education to 28S7 students, out which 1857 non-BEML Students have enrolled at BEML Schools and have availed online education.
Tlie Mini Science Centre at BEML KGF aims to Provide hands-on experimental education to students and teacher. The centers objectives include making mathematics and science learning interesting and easy, promoting scientific concepts through experiments, and developing problemsolving skills.
BEML College extending the Mini Science Centre facilities in and around government schools, KV School etc., to enhance the education quality with practical }\ands-on experience and develop the community.
Support for Children from Economically Backward section of the society
The company has generously supported school children form Economically Backward section for expansion of School Infrastructure i.e students desk, table for primary children, photocopier, CCTV equipment. 1 drawer metal file storage cabinet slotted angle Metal rack through Sri Lakshmi Venkatesha Pratishthana. Total no. of beneficiaries of this project would be 169 students.
Swachh Bharat Mission:
The Company in continuing with its endeavor towards being a Socially Responsible entity had undertaken various initiatives under Swachh Bharat Campaign &: Swachh Vidyalaya Abhiyaan during the current year 2024-25. Important Swachh Bharat Initiatives for 2024-25 are as under:
Swachh Bharat Initiatives
BEML lias adopted all Swachh Bharat initiatives like Pledge taking, conducting public awareness programmes on cleanliness, Swachh Vidyalaya, Environment protection, public awareness on cleaning nearby areas, arranged for fixing of awareness boards, participation of executives/non-executives in Shramadaan (100 Hrs in a year) to ensure cleanliness of the work area & surroundings, Training programme on waste management, importance of cleanliness, walkathon, organizing skit/street play to create awareness on cleaning and cleanliness, construction ot toilets, vermi-compost bins, painting of buildings, extensive cleaning of hangars, clean my street, continuous Housekeeping &: renovation ol toilets, fogging &
eradication of mosquito menace, focus on creating plastic free zones etc.
Activities and events across BF.MI. Complexes/Offices have been carried out during 2024-25 in line with directives of the Ministry.
1. Swachhata Ki Bhdgidari
• Banners/Posters: Awareness posters and banners promoting the Clean India movement were displayed at prominent locations to engage residents and the general public.
• Swachhata Pledge: Swachhata pledges were administered in English, Hindi, and Kannada at different locations, ensuring a collective commitment to cleanliness.
• Marathon for Cleanliness Awareness:
Marathons were organized to spread awareness about the Swachh Bliarat Campaign and promote physical fitness alongside cleanliness.
• Waste-to-Art Display: At the Mysore Complex, a creative table-top display made from straw pipes was organized, showcasing the concept of converting waste into art.
• Health & Welfare Marathon (Kerala): In collaboration with Pudussery Grama Panchayat and the Swachhata Mission, Government of Kerala, a marathon was organized in a tribal village near Walayar to promote health and hygiene. Awareness sessions were conducted as part of this initiative.
2. Door-to-Door Awareness Programme
Posters promoting cleanliness were
distributed to the general public through a door-to-door campaign, educating them on their role in maintaining a dean environment
3. Essay and Drawing Competitions
Competitions themed Swabhav Swaclihata- Sanskaar Swachhata were held for BEML employees, trainees, contract personnel, and school children. Winners were recognized and awarded prizes.
4. Cultural Events & Skits
Cultural events, including skits on cleanliness, were conducted at HQ , KGP & Bangalore Complex to creatively raise awareness about the importance of maintaining a dean environment.
5. Sampooma Swachhata through Shramdaan & Swachhata lakshit F,kayi
• Mass Cleanliness Drives: A large-scale deanliness drive was carried out at government primary schools, with the distribution of dustbins in public places to promote hygiene.
• CTU Identification & Cleaning Drive: A mass cleaning drive was held at the
KSRTC Bus Stand and other public places in ialakkad. Dustbins were distributed to encourage proper waste disposal.
6. Safai Mitra Suraksha Sliivirs
• Sanitation Awareness Campaigns: The company organized an awareness campaign focusing on proper sanitation practices such as toilet usage, handwashing, health, and hygiene
• Health Camps for Safai Karmacharis: A health camp was organized for safai karmacharis. focusing on their well-being arid hygiene practices.
7. Gandhi Jayanti & Swachh Bharat Diwas
• On 2nd October 2024. entire BEML family came together to celebrate Gandhi Jayanti and Swachh Bharat Diwas at the Corporate Office and all other Complex es/Offices, marking the culmination of the campaign with renewed commitment to cleanliness.
The Swachhdta Hi Seva campaign successfully instilled the values of cleanliness, health, and environmental stewardship across all BEML locations. Lhe enthusiastic participation from employees, executives, and the general public reflects tire companys dedication to contributing towards a Clean India and upholding the vision of the Swachh Bharat Mission.
Detailed Events:
• Swachhata Mein Jan Bhaagidari: A total ol 35 events were conducted, including marathons, awareness campaigns, and public participation drives.
• CTU (Cleanliness Target Unit) Transformation: 15 events focused on transforming cleanliness target units, such as schools and public areas.
• SafaiMitra Suraksha Shivirs: 2 events were organized to promote health awareness and safety for sanitation workers.
Total number of events organized across various BEML locations was 5Z covering a wide range of initiatives aimed at promoting cleanliness, health and environmental sustainability.
8. Special Campaign between 16.09.2024 to 31.10.2024
The Special Campaign 4.0 officially commenced on September 16, 2024 with preparatory and implementation phase that sought to achieve the cleanliness targets across the country.
To commemorate the birth anniversary of Mahatma Gandhi, Shradhanjali activity taken by all Complexes / Offices along with the Executives/Non-Executives.
Accordingly, the Swachhata Pledge Taking Ceremony was organized along with displaying banners and posters across locations.
Swachhata Special Campaign 4.0 carried out across Complexes/offices in a grand manner by conducting various activities trom 02.10.2024. During the Implementation phase, the outdoor cleanliness activity was carried out with much publicity towards creating awareness among the general Public and the surrounding communities.
In order to make the work place safe and clean. "Best practices on Swachhta" by way of Mechanized cleaning as an apart of Special Campaign 4.0 was carried out at all Complexes.
Branding and publicity of Special Campaign 4.0 activities in electronic and print media platforms at both field and central level has been done through social media such as myGov, Twitter and Facebook extensively.
9. Celebration of Swachh Bharat Pakhwada:
Swachhta Pakhwada: In line with the directives of Ministry, "Swachhta Pakhwada" was organized across all the Complexes / Offices of the Company from 1st Dec,2024 to 15* Dec,2024.
The following activities were undertaken during the Swachhta Pakhwada campaign:
a) Oath Taking Ceremony, March Past in the Complex tor spreading awareness about cleanliness.
b) Display of Posters/Banners in the Complex ol all the attached offices, March past for spreading awareness about cleanliness among the employees/officers / their families^ public.
c) Tree Plantation in factory and office premises.
d) Cleanliness Drive of Toilets in the workshops.
e) Cleanliness Drive in the Townships. Awareness about segregation of wastes.
f) Cleanliness Drive in the public places like Shopping Complex, Children Parks, etc.,
g) Essay / Painting / Drawing competition on the subject of importance of cleanliness for Non- Executives /Executives and their Spouse / Children.
h) Seminar on importance of cleanliness in daily life.
i) Cleanliness drive of township drainage system.
j) Fumigation of insecticides in tire township for prevention of mosquito and other insects.
k) Weeding out of old files and Office equipment.
l) Cleanliness Drive in Administrative offices and surrounding areas.
m) Disposing off scrap material in die factory premises and storage in organized manner.
n) Organizing Mini Marathon for employees/officers and their families to spread tire message of cleanliness.
o) Branding & Publicity of Pakhwada activities in electronic and print media platforms. The need to make use of social media such as myGov, Twitter & Facebook extensively for the purpose,
p) Concluding ceremony & distribution of prizes.
10. Annual Action Plan for Swachh Bharat Activities:
In addition, BEML has undertaken various activities as per the Annual Action Plan based on the directives of Ministry on Swachh Bharat for the period from 2024-25. The main activities are:
Swachh Vidyalaya Campaign: 12 toilet blocks have been constructed at various Government Schools located near our Manufacturing complexes i.e KGF, Bangalore, Mysore and Palakkad. Cost of this project was ?63.00 lakhs.
• Collection, Segregation and Disposal of Waste (Office waste and Non-Office waste): 554.74 MT scrap have been disposed off during 2024-25.
• Planting and distribution of Tree Saplings in Factory premises, Townships and Public places.
• Conducting awareness programs: 10 programs have been conducted on EHS covering 40 % of population.
11. Restoration of waterbodies at Soregowdana Village
Restoration of water bodies (desilting) works in the lake of Harnikunte, Kyasamballi hobliJCGF have been carried out by company.
Compliance under the Right to Information Act, 2005
The information required to be provided to citizens under Section 4(l)(b) of RTF Act. 2005 on our company website, i.e., www.bemlindia.in. It contains general information of the Company, functions and duties, powers and duties of employees / officers, decision making process, relevant rules, regulations, manuals &. records held by BEML, directory of the Companys officers, pay scales of officers / employees etc., and procedure tor seeking information and inspection of Records. The Company has nominated a Central Public Information Officer, Appellate Authority, Transparency Officer and Six Central Assistant Public Information Officers representing for Complex/Divisions to attend to the Applications & Appeals. Further, during the year 2024-25 the Company has received 278 RTI Applications seeking information pertaining to human resources, personal, recruitment, contracts, tenders, business related matters etc., and the same are being disposed.
Digital Transformation Initiatives:
Our Company is dedicated in digitizing the business processes for increasing efficiency and productivity along with seamless support to all stake holders.
Many DT initiatives with respect to Business Applications, Systemic Improvements, Cyber Security and Infrastructure were implemented during the year 2024-25.
Some of the initiatives are Installation of Chakravyuh server and Maya OS with chakra agent on all internet facing system for Cyber Security, Refresh of end-point and network devices. Non-SAP Applications Like online CSR and CCHS portal and Daily Cyber Security Tips.
DT Road map for next 3 years includes S/4 HAN A implementation, AI based projects in Operations, Industry 4.0 & QA 4.0, Human Resource Management System.
Report on the performance and financial position of subsidiaries and Joint Venture Company
Subsidiary Companies:
• Vignyan Industries l imited (VII.):
MoD vide letter dated 10.09.2021 informed that the Lnion Cabinet has accorded approval for closure of VIL. Accordingly, Members of the Company at its Extraordinary General Meeting held on 11.10.2021 accorded approval for Voluntary Liquidation and appointed Shri Venkataraman Jayagopal as official liquidator.
All movable and immovable assets have been disposed off, and the liquidation process is currently underway.
• MAMC Industries Limited (MIL):
Your Company entered into a Consortium Agreement with Mfs. Coal India Limited (CIL) and M/s. Damodar Valley Corporation (DVC) on 08.06.2010 for acquiring specified assets of M/s. Mining and Allied Machinery Corporation Limited (under liquidation). The agreement, inter- alia, provided for formation of a Joint Venture company (JV) with a shareholding pattern of 48:26:26 among BEML, CIL and DVC respectively. The Company has paid the proportionate share of *48 crores towards the total bid consideration of *100 crores for the said acquisition, based on the order passed by the HonT>le High Court of Calcutta. The said assets were taken possession by the MAMC Consortium. Further up to 2024-25, the Company has incurred a sum of *25.76 crores (Previous Year- *24.88 crores), towards maintenance, security and other related expenditure. The total sum of *73.76 crores (Previous Year *72.88 crores) is disclosed as Advance to MAMC Consortium due to delav in conversion of MIL into a JV.
It was proposed to register all properties in tire name MAMC Industries Limited and accordingly, M/s Fox & Mondal Advocates & Solicitors have prepared tire final draft sale deed of the Mining and Allied Machinery Corporation Limited properties at different locations for registration purpose.
With respect to Sale certificate, Honble High Court of Calcutta have instructed Official Liquidator to issue independent Sale Certificate to tire consortium. Law firm M/s. Meharia & Company, Solicitors and Advocates, Kolkata have submitted letter on 16.04.2025 to Official Liquidator to hand over the Independent Sale Certificate.
Joint Venture Company:
• BEML Midwest Limited (BMWL):
BMWL was formed and registered with the Registrar of Companies at Hyderabad on 18.0-1.2007. BEML holds 45% share and M/s Midwest Granite Pvt. Ltd. (MGPL) and P T Sumber Mitra Java of Indonesia as partners hold tire balance 55% share. The Company was established to capitalize on the growing business opportunities in the contract mining segment. However, due to certain unauthorized transactions and tire oppression and mismanagement by the nominees of MGPL, your Company had filed an application before Honble Company Law Board (CLB) seeking for suitable relief. As a counter measure, MGPL had also filed a petition on the matter. CLB vide its common order dated 01.06.2012 directed the Central Government to appoint an inspector to investigate tire affairs of BMWL and take appropriate action. Based on the legal advice, your Company preferred two appeals before Honble High Court of Andhra Pradesh at Hyderabad against the said common order of CLB. The Honble High Court passed tire order on 19.08.2013, thereby setting aside the said common order and directing CLB to proceed with a fresh enquiry-, and decide the issue in accordance with law and merits, also taking into consideration the report of investigation as directed by CLB and pass appropriate orders without getting influenced by the impugned conrmon order of CLB. In tire meanwhile, the Government has constituted National Company Law Tribunal (NCLT) by dissolving CLB and notified tlrat tire jurisdiction is shifted to Hyderabad from Chennai. The case files were transferred to NCLT. Regional Director-MCA has submitted the investigation report dated 29.03.2022 to NCLT. Honble NCLT after hearing the submissions of tire respective Counsels vide orders dated 25.07.2023, disposed off the petition as follows:
"In the light of the ruling by the Honble High Court of Calcutta in re Avani Projects & Infrastrures Ltd. Vs Ornate Tradcom Pvt. Ltd 04 92 of 2019 (Para 22). held that the continuation of proceedings against the Respondents being impermissible under law, the present CP No. 55/2008 is hereby returned, giving liberty to the Petitioner to pursue this petition after a decision is taken on approval1 rejection of the resolution plan in the ongoing CIRP process against the first respondent Company. Accordingly. Company Petition is disposed of. After disposal of the Company petition, no cause of action survives in all pending IAs. hence the same are also disposed of In the result, the Company Petition is returned.
Vide NCLT orders dated 26.09.2022, Corporate Insolvency Resolution Process (CIRP) was initiated and 5mt. Padma Priyanka Vangala was appointed as the Resolution Professional. Based upon tire report of the Resolution Professional, that resolution was not possible, and to initiate liquidation of BEML Midwest Ltd, the Honble NCLT vide orders dated 20.10.2023, ordered liquidation of BEML Midwest Ltd and appointed Smt. Padma Priyanka Vangala as the Liquidator. The liquidation of BMWL is under process.
So far, 6 SCC Committee of Creditors Meetings were held by the Liquidator. The claims filed by BEML were yet again rejected by tire Liquidator.
The said order of the Liquidator is under challenge by BEML before the NCLT. The same is pending for disposal
Consolidated f inancial Statement:
Your Company has prepared the Consolidated financial Statement of its subsidiaries in terms of Section 129(3) of the Companies Act 2013, excepting consolidation with respect to JV Company, M/s BEML Midwest Limited due to complete cessation of activities as the matter is sub-judice, which is attached to this report
Statutory Auditors:
M/s G Natesan & Co., Quartered Accountants, were appointed as the Statutory Auditors for the financial year 2024-25 by the Comptroller & Auditor General of India.
Cost Auditors:
In terms of Section 148 of Companies Act, 2013, read with die Companies (Cost Records and Audit) Rules, 2014, M/s R M Bansal and Co, Cost Accountants, wren? appointed as Cost Auditors for the year 2024-25 to conduct the audit of the cost records of the Company. The Company maintains Cost records as specified by the Central Government under section 148(1) of the Companies Act, 2013, in respect of the Railway and Rolling Stocks (Bengaluru Complex), other Machinery (Truck, Engine, EM, H&P Divisions) and Power (EM Division).
Secretarial Auditors:
In terms ot Section 204 of the Companies Act, 2013 read with the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014, your Company had appointed M/s. MMA & Partners (Formally Known as Manish Mishra k. Associates), Practicing Company Secretaries (PCS), to undertake the Secretarial Audit of the Company for the year 2024-25. The Secretarial Audit Report issued by the PCS and the replies to the observations made in the said Report are annexed to the Boards Report as Annexure-VII.
In addition, an Annual Secretarial Compliance Report issued by the PCS has been filed with the Stock Exchanges within the due date from the end of financial year 2024-25.
Further, Pursuant to the amended provisions of Regulation 24A of the SEBI (LODR) Regulations and Section 204 of the Act read with Rule 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Audit Committee and the Board of Directors have approved and recommended the appointment of M/s. MMA & Partners (Formally Known as Manish Mishra & Associates), Peer Reviewed Firm of Company Secretaries in Practice (Firm Registration Number: P2015UP081000) as Secretarial Auditors of Lire Company will hold office for period of l(One) year from the conclusion of ensuing ACM till the conclusion of 62nd ACM of the Company to be held in the Year 2026, for approval of the Members at ensuing ACM of the Company. Brief resume and other details of M M/s. MMA & Partners (Formally Known as Manish Mishra & Associates), Company Secretaries in Practice, are separately disclosed in the Notice of ensuing AGM.
M/s. MMA <& Partners (Formally Known as Manish Mishra & Associates), have given tlieir consent to act as Secretarial Auditors of the Company and confirmed that their aforesaid appointment (if made) would be within the prescribed limits under the Act & Rules made thereunder and SEBI (LODR) Regulations. They have also confirmed that they are not disqualified to be appointed as Secretarial Auditors in terms of provisions of the Act & Rules made thereunder and SEBI (LODR) Regulations.
C&AG Audit:
The Comments of the Comptroller & Auditor General of India under section 143(6)(b) of tire Companies Act, 2013 on the financial statement including consolidated financial statement and reply thereto, if arty, are appended at page no. 257 & 344 to the annual report.
Frauds Reported by Auditor:
No frauds are reported by the auditors which fall under the purview of sub-section 12 of section 143 of Companies Act, 2013.
General disclosure:
Your Directors confirm that no disclosure or reporting is required in respect of the following items as there was no transaction on these items during the year under review:
• No Significant and Material order was passed by any regulators or courts or tribunals that may impact the going concern status and companys operations in future.
• Official Liquidator in the IBC case No. CP{IB) No. 237/9/HDB/202O filed before NCLT, Hyderabad seeking Corporate Insolvency of M/s BEML Midwest Limited has filed Application bearing No. CP/1B/151/2023 stating that as per the Books of Account of BEML, there was an outstanding amount of ? 94.49 Lakhs and the same was paid and settled.
• In the matter BEML has filed detailed Objection Statement contending that there is no due from BEML to BEML Midwest and die Petition is not maintainable. The Petition is partly heard and awaited for final hearing.
• Details of difference between the amount of valuation at the time of one-time setdement and valuation done while taking loan from banks or financial institutions are not applicable to die company.
Exlracl of Annual Return
An extract of the Annual Return in the prescribed form in terms of Section 92(3) of the Companies Act, 2013 read with Rule 12 of the Companies (Management and Administration) Rules, 2014, is placed at https:/Av\\uv.bemlindia.in;mvcstors
Acknowledgements
Your Directors express dieir hearty dianks to the Company? valued customers. Government of India, Administrative Ministry, die Ministry of Defence and in particular, the Department of Defence Production the Ministry of Railway, M/s
Coal India Limited and its Subsidiaries, M/s Singareni Collieries Company Limited, M/s Steel Authority of India Limited, Railway Board, M/s Delhi Metro Rail Corporation Limited, M/s Bengaluru Metro Rail Corporation Limited. M/s Jaipur Metro Rail Corporation. M/s Kolkata Metro Rail Corporation, M/s Malia Metro Rail Corporation Limited, Integral Coach Factory- Chennai, M/s Bharat Electronics Limited, M/s Bharat Dynamics Limited, Ordnance Factory Board, Defence Research & Development Organization (DRDO), M/s Brahmos Aerospace Pvt. Ltd., Indian Space Research Organization, M/s Hindustan Aeronautics Limited. Aeronautical Development Agency for their patronage and confidence reposed in the Company. The Directors also acknowledge and thank all collaborators, vendors and other sendee providers for their valuable assistance and cooperation extended to the Company.
The Directors express their appreciation to the members of Companys Consortium of Banks and other Bankers and Financial Institutions for their continued support to the Companys operations. The Directors also thank all the shareholders/ investors for reposing continued confidence in the Company.
The Directors wish to thank the Comptroller & Auditor General of India, the Principal Director of Commercial Audit & Ex-officio Member, Audit Board and Statutory Auditors for their valued cooperation.
The Directors also acknowledge the valuable support and assistance received from various Ministries of Government, in particular Ministry of Defence, Ministry of Coal, Ministry of Mines. Ministry of Steel, Ministry of Railways, Ministry of Housing and LTrban Affairs, Ministry of External Affairs and Ministry of Home Affairs. The Directors are also grateful to the Government of Karnataka and Kerala for the support and cooperation extended to the Company.
Your Directors take this opportunity to place on record their appreciation for the invaluable contribution made and excellent co operation extended by the employees and executives at all levels for the continued progress and prosperity of the Company.
| For and on behalf of the Board of Directors | |
| SdJ- | |
| Place: Bengaluru | Shantanu Roy |
| Date: 06.06.2025 | Chairman & Managing Director |
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