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A key player in heavy equipment for defence, rail, metro and mining, BEML is shaping India’s infrastructure growth. Shantanu Roy, Chairman & Managing Director, speaks to PRATAP PADODE, Founder & Editor-inChief, CW, on order books, revenue and future expectations. Which sectors do you see driving BEML's future growth, given its diverse revenue streams? There is a growing demand in the rolling stock market, which encompasses various types of rail and metro vehicles. The sector presents tremendous opportunities, with ongoing projects like the  Vande Bharat trains and other variants, including Amrit Bharat  and Amrit Metro. The metro market, particularly in Tier-1 and 2 cities, offers promising growth potential. We believe that once the delayed orders, and the electric multiple unit (EMU) local trains are back on track, the share of rolling stock in the railway and metro segments will see significant growth. With these prospects on the horizon, we remain optimistic about receiving substantial orders in coming years. The rail and metro sector offers immense growth potential, both in India and across global markets. Domestically, ongoing metro rail expansions in cities like Chennai, Bangalore, Delhi, Bhubaneswar, Patna, Nagpur, Pune, Thane, Kochi and Hyderabad signal a robust demand for advanced rolling stock. As a trusted partner in India’s transportation landscape, BEML is uniquely equipped to address this demand, leveraging our extensive infrastructure and highly indigenised supply chain aligned with the Make in India initiative.  As on Feb 2025, BEML’s order book stood at Rs.150 bn, following the Rs.36.58 bn order from Chennai Metro Rail. What are your expectations for the remainder of the quarter and the mix of orders you anticipate? BEML’s year-end order book is expected to be split with 50 per cent from rail and metro, 30 per cent from defence, aerospace and maritime, and 20 per cent from mining. While railway orders performed well last year, the sector’s contribution this year will be limited, as many orders are not executable in the current year. Mining will drive revenue for FY2024-25, with defence contributing around 30 per cent and mining making up the remaining 50 per cent. The railway sector is expected to account for about 20 per cent. Looking ahead, a shift in sectoral contributions is expected from FY25-26, with significant growth in the rolling stock market, driven by projects like Vande Bharat in the commuter rail segment. The metro market in Tier-1 and 2 cities also holds strong potential.BEML has secured the  contract to build India's first indigenously manufactured bullet trains, worth `8.66 bn. What is the current status? We have secured a contract from Integral Coach Factory (ICF), Chennai, to design, manufacture and commission India’s first high-speed trainsets. As part of this historic project, we will build two trainsets, each comprising eight cars. This development order is a collaborative effort between NHSRCL, ICF, Railway Boardand BEML. These indigenously designed trainsets will be capable of reaching a speed of 280 km/h. They will be produced at BEML's state-of-the-art Bengaluru rail coach complex, with delivery scheduled for the end of 2026. Designed with fully air-conditioned chair cars, the trains will feature reclining, rotatable seats, accessibility provisions and advanced infotainment systems, ensuring a premium travel experience. With a `9 bn capital investment, how is BEML strategising  its re-entry into the construction equipment market? What  are your plans to tackle competition? BEML’s investment plan for the upcoming fiscal year, following its re-entry into the construction equipment market, aims to significantly boost market share. The strategy focuses on integrating advanced technologies like AI, IoT and automation into equipment, alongside increased R&D to foster innovation and improve existing products. Manufacturing capacity will expand to meet demand, with expertise from the defence sector applied to create military-grade machinery. BEML plans to differentiate itself through a customer-centric approach, targeted marketing and a strong brand identity while employing flexible pricing to remain competitive. Additionally, existing equipment will be relaunched with enhanced features and technologies. This strategy is designed to drive growth and solidify BEML’s position in the market. What strategic initiatives  drive teamwork, R&D and leadership at BEML? Starting FY2024-25, BEML has undertaken a major organisational restructuring to align with evolving market demands and strengthen its operational efficiency. It is now divided into 12 Strategic Business Units (SBUs) and 2 micro-SBUs, with dedicated units for Commuter Rail and Metro Rail. This structure is designed to accelerate decision-making, drive efficiency and nurture a sense of ownership among teams, laying the foundation for a strong leadership pipeline and excellence across functions. Our people are the cornerstone of our success. To bolster teamwork and innovation, we are aggressively hiring talent at various levels, including graduates from premier institutions such as IITs and NITs. Addressing workforce diversity and attrition are also high on our agenda. In parallel, we are enhancing our infrastructure to scale up research and execution capabilities, ensuring our readiness to meet growing demands in heavy engineering. Innovation is the driving force behind our growth and success. To stay ahead of the curve, we have set up dedicated teams like the Futuristic Product Innovation and Incubation Centre and the Corporate Technology Planning and Alliance Management Group, which focus on nurturing and advancing innovation. Our goal is to attract the brightest minds who can contribute fresh perspectives and drive forward-thinking advancements.  By focusing on emerging talent, we aim to infuse our R&D efforts with cutting-edge ideas and technological insights that align with both current needs and future aspirations.BEML has undergone significant transformations over the past year. Now, with the launch of your new brand identity, what does this rebranding represent, and how does it align with your growth trajectory and future vision?We have proudly unveiled our new brand identity, ‘Infinixâ€�, at Aero India, with the esteemed presence of Admiral Dinesh Kumar Tripathi, Chief of Naval Staff (CNS), who graciously officiated the launch. Infinix marks a bold evolution—a symbol of limitless aspirations, agility, and excellence. The freed Phoenix, breaking beyond its circular boundary, represents BEML’s unwavering commitment to innovation across Air, Land, and Sea. Its outstretched wings embody the company’s relentless pursuit of breakthrough solutions in engineering and mobility. The name ‘Infinixâ€�, a fusion of ‘Infinityâ€� and ‘Phoenixâ€�, draws inspiration from aerodynamic precision—reflecting BEML’s expertise in cutting-edge technology and future-ready solutions. The dynamic, fluid form of the logo represents power, speed, and a forward-thinking vision that propels BEML toward redefining industries.