BEML Land Assets swings to profit as costs fall 40.62% QoQ
Revenue was flat, but lower expenses lifted operating margin by 13.45 percentage points; the stock fell 0.25% on the results day.
Filed 04 Nov 2026, 12:32 IST · BEML Land Assets Ltd (BLAL)
Key takeaways
- Flat revenue of Rs 0.98 cr and a 40.62% QoQ fall in expenses lifted operating margin by 13.45 percentage points.
- Standalone net profit swung to Rs 0.38 cr from a Rs 0.47 cr loss as the tax rate fell from 230.04% to 22.74%.
- Operating margin of 80.56% was 28.9 percentage points above the 51.66% median for 93 reported Financial Services peers.
Price around the results
Lower expenses drove the margin recovery
On a standalone basis, revenue was unchanged at Rs 0.98 cr QoQ, while expenses fell 40.62% to Rs 0.19 cr. With costs falling and revenue flat, operating profit rose 19.70% and operating margin improved by 13.45 percentage points to 80.56%. Other income was zero, so the margin improvement did not come from non-operating income.
Tax normalisation helped restore profitability
Profit before tax rose 36.11% QoQ as interest stayed unchanged at Rs 0.28 cr and depreciation remained Rs 0.02 cr. The tax rate fell by 207.3 percentage points from 230.04% in Q1FY27 to 22.74% in Q2FY27, helping net profit move from a Rs 0.47 cr loss to Rs 0.38 cr profit. The quarter's profit was therefore helped materially by the sharp change in the tax charge.
Margin moved above the reported peer median
Operating margin increased from 67.11% in Q1FY27 to 80.56% in Q2FY27, marking a sequential improvement across the two quarters shown rather than an established multi-quarter trend. BEML Land Assets' margin was 28.9 percentage points above the 51.66% median among 93 Financial Services peers that had reported.
Shares slipped after the results
The stock fell 0.25% on 4 November, with a volume ratio of 1.18x. It underperformed its reference benchmark by 0.88 percentage points on the day.
Q2FY27 at a glance
Standalone figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q2FY27 | Q1FY27 | QoQ |
|---|---|---|---|
| Revenue | ₹1 cr | ₹1 cr | +0.00% |
| Other income | ₹0 cr | ₹0 cr | — |
| Expenses | ₹0 cr | ₹0 cr | -40.62% |
| Operating profit | ₹1 cr | ₹1 cr | +19.70% |
| Operating margin (%) | 80.56% | 67.11% | — |
| Interest | ₹0 cr | ₹0 cr | +0.00% |
| Depreciation | ₹0 cr | ₹0 cr | +0.00% |
| Profit before tax | ₹0 cr | ₹0 cr | +36.11% |
| Tax | ₹0 cr | ₹1 cr | -86.75% |
| Net profit | ₹0 cr | ₹-0 cr | — |
| EPS (₹) | ₹0.09 | ₹-0.11 | — |
Operating margin of 80.56% compares with a Financial Services sector median of 51.66% across 93 peers that have reported Q2FY27.
How the stock reacted
| Window | Stock | vs NIFTY |
|---|---|---|
| Results day | -0.25% | -0.88% |
Volume on the results session was 1.18× its 20-day average.
What to watch
- Whether operating margin holds above 80.56% as revenue moves beyond Rs 0.98 cr.
- Whether expenses remain below Rs 0.19 cr.
- Whether the tax rate stays near 22.74% rather than returning to the Q1FY27 level of 230.04%.