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With reference to the earlier announcement dated July 11, 2008 regarding “FY 08 results on Jul 18, 2008″, BEML Ltd has now informed BSE a meeting of the Board of Directors of the Company will be held on July 18, 2008, inter alia, to consider and approve the Quarterly Financial Results for the fourth quarter ended March 31, 2008 along with the Financial Statements for the year ended March 31, 2008 (Profit and Loss Account and Balance Sheet with Schedules) and “also consideration of the Dividend for the year ended March 31, 2008″.

BEML Ltd has informed BSE that the Board of Directors of the Company met on June 30, 2008 and took note that the Audit of the financial statements for the year ended March 31, 2008 and quarter ending March 31, 2008 is still in progress and therefore, could not be approved for publication. The financial results will be furnished upon completion of the audit soon and published thereafter with the approval of the Board.

The next date of the Board Meeting for consideration of financial statements will be intimated in due course.

BEML Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on June 30, 2008, inter alia, to consider and approve the Quarterly Financial Results for the fourth quarter ended March 31, 2008 along with the Financial Statements for the year ended March 31, 2008 (Profit and Loss Account and Balance Sheet with Schedules) and also recommend the Dividend for the year ended March 31, 2008.

BEML Ltd has informed BSE about the following:

“I. Introduction

BEML Ltd is a Mini-ratna Category-I Company under the Ministry of Defence, Govt. of India. The Business areas of BEML Ltd include:

1. Mining and Construction
2. Defence
3. Rail & Metro
4. Technology Division (e-engineering solutions)
5. Trading Division.

The Equity Capital of BEML is Rs 41.77 Crs, with 54% held by Govt. of India and the balance by FIs, FIIs, Public and Employees. BEML Ltd has its manufacturing plants at Kolar Gold Fields, Bangalore, Mysore and a Subsidiary steel foundry at Tarikere.

The total employee strength of BEML Ltd as on date is 12318.

II. PERFORMANCE DURING 2007-08:

During the year, BEML Ltd has achieved a turnover of Rs 3005 Crs, (Prov.) with 15.5% growth and with PBT of Rs 350 Crs. (Prov.) with 11% growth compared to last year.

The order book as of year end stands at Rs 3795 Crores.

During the year the Company has achieved Export Sales of Rs 257.72 Crs, compared to Rs 110 Crs, in the previous year, an increase of 132% over the last year.

SOME OF THE HIGHLIGHTS OF 2007-08

(a) Rail Unit-II at KGF was inaugurated and commenced commercial production of Rail coaches on October 09, 2007 and employed only Ex-employees and dependents of closed BGML, KGF.

(b) BEML JV -BEML MIDWEST Ltd Head quartered at Hyderabad for Contract Mining Business was inaugurated and commenced its operation.

(c) Raised Rs 526 Crs, through Follow-on Public Issue.

(d) Company-wide ERP was implemented w.e.f. October 01, 2007.

(e) Commissioned 5 MW Wind Mill Farm, which will produce 13.2 Million units per annum.

(f) Opened Global Ware-house at Malaysia and China.

III. BEML CONCLUDED BUSINESS TIE-UPS WITH THE FOLLOWING FOR EXPANSION AND DIVERSIFICATION:

(a) Tatra Sipox UK Ltd, UK. for indigenous manufacture, sale and transfer of technology for Tipper Brand Model, “Hemang” and Engines, “EURO-II”, and “EURO-III”.

(b) General Dynamics Land Systems, Canada to promote the Armoured Patrol vehicle, Wheeled Light Armoured Vehicles, Tactical Vehicle.

(c) WFEL, UK, to jointly develop “dry support bridge” on BEML Tatra Vehicles.

(d) TDA Armements S A S France, for integration of Self Propelled Mine Burier (”SPMB”) on Tatra Platforms.

IV. FUTURE OUTLOOK:

- Contractor Segment through Dealer network expansion to market the construction equipments like Back-hoe Loader, small capacity Excavators, Dozers and Loaders.

- Improving Trading in Iron ore / other Metal Ores and non-BEML Products.

- LT agreement with Major Buyers like NTPC / SAIL etc.,

- Turnkey Metro Projects with M/s. IL & FS.

- Consortium with CIL and DVC to revive M/s. MAMC to foray into Underground Mining equipments.

- Development of 100T Aluminum Wagons in association with NALCO.

BEML Ltd has a vision to achieve Rs 5000 Crs, turnover by the year 2013-14, Golden Jubilee year of the Company. Planning for expansion and diversification through:

> High capacity Dumpers
> 20 CuM Rope Shovel
> Metro Coaches for Broad Gauge / Standard Gauge.
> Stainless Steel EMUs
> Airport Link High Speed Trains,
> Bogies for High Speed Trains.

With sustainable potential for Business Growth in all business segments in particular Mining & Construction and Rail & Metro, BEML Ltd is poised to achieve 18 to 20% growth on year-to-year basis.”

BEML Ltd has informed BSE that the Company has ended the financial year 2007-08 with the provisional results recording an all time high turnover of Rs 3,005 crores registering a growth of 15.5% over the last year and profit before tax of Rs 350 crores recording a growth of 11% over that of last year. The export sales stood at Rs 257 crores. These results are provisional subject to Audit.

BEML Ltd has informed BSE that Shri. N K Sreenivasan, Director (Rail & Metro Business) relinquished charge on February 29, 2008 upon superannuation.

Further the Company has informed that, Shri. P Dwarakanath, has been appointed by Government of India as Director (Rail & Metro Business) of the Company effective March 01, 2008.

BEML Ltd has informed BSE that in the limited review report of the Company for the quarter ended December 31, 2007, the Auditors of the Company have made the following observations:

“Reference is invited to Note No: 5 of the accompanying statement of unaudited financial results relating to manner of recognition and the amount of provision in respect of employee benefits as required by Accounting Standard 15 (Revised) issued by The Institute of Chartered Accountants of India. The effect of such provisioning is at present not ascertainable”.