BEML Land Assets Limited, a Government of India company under the Ministry of Defence, disclosed its unaudited financial results for the second quarter and half-year ended September 30, 2026, following a board meeting held on November 4, 2026.

Financial Performance (₹ in lakhs)

Quarter Ended 30.09.2026:

  • Revenue from operations: ₹98.25
  • Other income: ₹0.31
  • Total income: ₹98.56
  • Total expenses: ₹49.39 (Employee benefits: ₹12.49, Finance costs: ₹28.01, Depreciation: ₹2.28, Other expenses: ₹6.62)
  • Profit before tax: ₹49.17
  • Current tax (MAT): ₹(5.26)
  • Deferred tax: ₹16.44
  • Net profit for the quarter: ₹37.99
  • Earnings per share (₹10 each): ₹0.09

Quarter Comparison:

The Q2 FY27 profit of ₹37.99 lakh represents a significant improvement over Q1 FY27 (net loss of ₹47.01 lakh) and Q2 FY25 (net loss of ₹53.49 lakh).

Half-Year Ended 30.09.2026:

  • Revenue from operations: ₹196.50
  • Other income: ₹0.31
  • Total income: ₹196.81
  • Total expenses: ₹111.49
  • Profit before tax: ₹85.32
  • Deferred tax: ₹94.34
  • Net loss for half-year: ₹(9.02)
  • Earnings per share: ₹(0.02)

Financial Ratios (30.09.2026):

  • Debt Service Coverage Ratio: 0.07
  • Interest Service Coverage Ratio: 2.76
  • Debt Equity Ratio: 11.53

Balance Sheet Highlights (as at 30.09.2026, ₹ in lakhs)

  • Total assets: ₹1,305
  • Non-current assets: ₹1,219 (Investment property: ₹988, Deferred tax assets: ₹230, Other: ₹1)
  • Current assets: ₹86 (Cash and cash equivalents: ₹56, Other: ₹30)
  • Total equity: ₹103 (Equity share capital: ₹4,164, Other equity: ₹(4,061))
  • Non-current liabilities: ₹1,190
  • Current liabilities: ₹12

Cash Flow Statement (H1 ended 30.09.2026, ₹ in lakhs)

  • Net cash from operating activities: ₹129.07
  • Net cash used in investing activities: ₹(19.40)
  • Net cash used in financing activities: ₹(55.53)
  • Net increase in cash: ₹54.13
  • Cash and equivalents at period end: ₹55.98

Governance and Compliance Matters

The Limited Review Report from Ranga & Co., Chartered Accountants (Firm Reg. No. 003042S), highlights several critical governance issues:

  • The board composition violates SEBI LODR Regulations 17(1)(b) and 17(1)(c)
  • Total board strength fell below the mandated minimum of 6 directors
  • Proportion of independent directors fell below the required 50% threshold
  • The company has not constituted an Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee, and Risk Management Committee since April 2026
  • These deficiencies are attributed to pending appointments by the Ministry of Defence, Government of India
  • The financial statements were placed before the Board of Directors instead of the Audit Committee

Additional Information

  • The company operates in a single segment: Real Estate - Leasing activities
  • Results prepared in accordance with IND AS
  • Previous period figures have been regrouped and reclassified for comparability
  • Results were published in national (English) and local (Kannada) newspapers
  • Board meeting duration: 10:00 AM to 12:20 PM