BEML aims for 5-digit topline,
4-digit bottom line: CMD Shantanu Roy
In this exclusive interview, Subhajit Roy speaks with Shantanu Roy, Chairman and Managing Director of BEML Ltd. Shantanu shares insights into the company’s innovative green mining initiatives, its growth strategy in the rail sector, and the ambitious revenue goals that drive BEML’s vision for the future.
When it comes to mining, sustainability, and green mining, what efforts is BEML making, and can you share any key innovations in this area?
As a responsible company, we are strongly committed to reducing carbon emissions to improve our planet. For us, smart and green mining is essential. We have already made strides with innovations like the all-electric 180-tonne excavator. Now, we are working on the 21 cubic meter Rope Shovel—designed and developed for the first time in India. This equipment, currently under assembly, will be commissioned in the next few months and is also all-electric. We are also evolving our dump trucks, using electric drives instead of mechanical ones across models like the 240-tonne, 400-tonne, and 100-tonne trucks. Additionally, our work on engine technology is advancing, focusing on multi-fuel, hybrid, and LNG-powered engines, with a 100-tonne dump truck already under trial. Discussions are ongoing about ethanol as a possible fuel for high-torque requirements. All these efforts underscore BEML’s commitment to sustainability and green and smart mining.
Considering the Indian mining landscape, how do you view the acceptance of all-electric dump trucks and other electric vehicles?
Globally, all-electric battery-operated dump trucks have already been introduced, although they are not yet present in India. For these trucks to operate effectively, mines need to be designed to support cable connections across short distances—typically around 2.5 to 3 kms. This design consideration has enabled broader acceptance of such equipment internationally, and as we move towards battery-operated or hybrid models, acceptance in India is also likely to grow.
Railways is currently one of your best-performing segments. Could you share your vision in this area?
The railway segment is indeed an exciting area for us, especially with the transformative shift in passenger transportation and commuter rail. In the metro sector, BEML already has a robust order book of 600 cars, and we are expecting another 300 soon as we emerge as the lowest bidder in multiple tenders. Altogether, this brings us to a 900-car order book, which is quite significant. Furthermore, with upcoming tenders anticipated over the next six months to a year, we expect an additional 900 cars, indicating substantial growth potential for the metro segment.
For commuter rail, specifically projects like Vande Bharat, we anticipate continued expansion beyond the initial 10 rakes. We are also preparing to enhance our capability to manufacture aluminum trains shortly. Alongside this, we support the railways with conventional coaches and have already delivered India’s first indigenously manufactured rail winding machine. Considering the current tenders in the pipeline, the opportunity size in this sector is vast, with the potential to exceed Rs 50,000 – Rs. 60,000 crore in the coming years. We see both the railway and defence sectors driving BEML’s aspirations over the next four to five years.
Are the 300 metro coaches you mentioned connected to the Chennai Metro project?
The 600 plus 300 orders aren’t limited to the Chennai Metro. We are looking at multiple projects, including Mumbai Line 4,5,6, Bhubaneswar, and Patna metros, which collectively could bring around 1,800 cars over the next few years.
What investments are being made to meet these demands?
We have initiated a new manufacturing facility in Bengaluru, inaugurated during the Railways Minister’s visit. This facility, with an investment of around Rs. 200 crore, aims to enhance our capabilities in car and coach manufacturing to meet the growing demands.
Looking ahead, when the bullet train dream becomes a reality, how does BEML envision its role in that market?
While it’s too early to say, participating in the bullet train project would expose us to advanced technologies and build our capabilities. The Vande Bharat sleeper project has already boosted our confidence, and developing a prototype for the bullet train would further elevate our team’s expertise, potentially preparing us to compete in international markets.
Speaking of the BEML team, what is your vision for them over the next five to ten years?
Our vision is clear: to grow and scale significantly. We aspire to reach five digits in terms of top-line revenue and four digits for the bottom line.
