BEML vs Mtar Technologies: Share Price, Comparison and Key Differences

BEML MCap Rs 14,370 Cr, PE 101.67x (thin earnings), ROE 4.82%, D/E 0.11. Mtar Technologies MCap Rs 21,365 Cr, PE 160.12x (thin earnings), ROE 11.43%, D/E 0.46.

Updated: 10 Aug 2026 • 1:58 pm

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BEML vs Mtar Technologies: Share Price, Comparison and Key Differences

BEML vs Mtar Technologies is a comparison defence manufacturing investors look up when evaluating two listed Indian defence sector companies at different scale and product depth. BEML is a Bengaluru-based government defence PSU making heavy vehicles for defence (armoured personnel carriers, artillery), rail coaches and metro coaches, mining equipment and aerospace components. Mtar Technologies is a Hyderabad-based precision engineering company making critical components for India’s nuclear energy, space (ISRO) and defence missile programmes.

This BEML vs Mtar Technologies article covers reach and market position, key products, latest declared results and stock valuation. The BEML vs Mtar Technologies data below is sourced from Groww and public company filings and reflects the most recently available information at the time of writing.

Table of Contents

BEML vs Mtar Technologies: Reach and Market Position

On the BEML side of the BEML vs Mtar Technologies comparison, BEML supplies heavy vehicles, rail coaches, metro coaches, mining equipment and aerospace parts to defence, railways and mines. Market capitalisation is Rs 14,370 Cr.

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On the Mtar Technologies side of the BEML vs Mtar Technologies comparison, Mtar Technologies supplies precision machined components for nuclear reactors (NPCIL), space rockets (ISRO), defence missiles (DRDO) and clean energy systems. Market capitalisation is Rs 21,365 Cr.

BEML vs Mtar Technologies: Key Products and Business Mix

In the BEML vs Mtar Technologies product comparison, BEML offers: BEML earns from defence vehicles, metro coaches, rail coaches, mining equipment and aerospace parts. EPS is Rs 16.97. PE is 101.67x, ROE 4.82 percent, D/E 0.11.

For Mtar Technologies in this BEML vs Mtar Technologies breakdown: Mtar earns from precision components for nuclear power, space, defence and clean energy. EPS is Rs 43.38. PE is 160.12x, ROE 11.43 percent, D/E 0.46.

BEML vs Mtar Technologies: Latest Results

The BEML vs Mtar Technologies results for BEML: BEML has a market cap of Rs 14,370 Cr and PE of 101.67x. ROE is 4.82 percent – very thin, reflecting the PSU’s capital-heavy operations and government pricing constraints. BEML is cheaper than Mtar by market cap.

The BEML vs Mtar Technologies results for Mtar Technologies: Mtar Technologies has a market cap of Rs 21,365 Cr and PE of 160.12x. ROE is 11.43 percent – above BEML. The extreme PE of 160x reflects Mtar’s thin current earnings and the long-duration nature of its nuclear and space programme contracts.

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BEML vs Mtar Technologies: Stock and Valuation

The BEML vs Mtar Technologies stock comparison uses the latest available market data from Groww. Investors tracking BEML vs Mtar Technologies should verify current prices on NSE or BSE before trading.

BEML vs Mtar Technologies at current valuations: BEML trades at Rs 14,370 Cr market cap, PE 101.67x, ROE 4.82 percent. Mtar trades at Rs 21,365 Cr market cap, PE 160.12x, ROE 11.43 percent. Both have very high PE multiples reflecting thin current earnings. Mtar has a higher ROE but trades at an even higher PE.

BEML vs Mtar Technologies: Quick Comparison Table

The BEML vs Mtar Technologies comparison table below summarises the key metrics covered in this article side by side.

Parameter	BEML	Mtar Technologies
Sector	Defence heavy vehicles + rail coaches + mining PSU	Precision components: nuclear + space + defence (private)
Market Cap	Rs 14,370 Cr	Rs 21,365 Cr
P/E Ratio	101.67x (thin earnings)	160.12x (thin earnings)
ROE	4.82%	11.43%
Debt to Equity	0.11	0.46
Ownership	Government PSU (defence ministry)	Private company (Pattabhirama family)
Key Products	Tanks, APCs, metro coaches, mining trucks	Nuclear reactor parts, ISRO rocket components

Conclusion

The BEML vs Mtar Technologies comparison above covers the key data points on reach, products, results and valuation. BEML vs Mtar Technologies covers two defence manufacturing companies with different ownership and product specialisations. BEML is a government PSU making heavy platforms for defence, rail and mining. Mtar is a private company with deep specialisation in precision components for nuclear, space and defence – a much narrower, higher-margin niche. BEML vs Mtar investors should review order book sizes, execution rates, disinvestment status for BEML and new programme ramp for Mtar. BEML vs Mtar Technologies are both defence manufacturing exposure stocks – consult a SEBI-registered advisor for personalised guidance.

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Disclaimer: Data and figures in this article are sourced from publicly available information, including company results filings and exchange data, and are current as of the time of writing. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).

Frequently Asked Questions

What does BEML make?

Ans. BEML makes heavy vehicles for Indian defence (armoured personnel carriers, heavy tactical vehicles), rail coaches, metro coaches, mining equipment (dump trucks, dozers) and aerospace structural parts.

What does Mtar Technologies make?

Ans. Mtar Technologies makes precision machined components for nuclear power reactors (NPCIL power plant components), Indian space rockets (ISRO), defence missiles and hydrogen electrolysers for clean energy.

Why are BEML and Mtar PE multiples so high?

Ans. Both companies have very thin current earnings relative to their long-term order books and growth potential. High PE multiples for defence companies reflect long-duration order books and strategic positioning rather than current profitability.

Is BEML a government company?

Ans. Yes. BEML Limited is a Government of India Navratna enterprise under the Ministry of Defence. There has been periodic discussion about partial disinvestment.

Does Mtar have nuclear energy exposure?

Ans. Yes. Mtar Technologies supplies precision machined parts for the nuclear power plants operated by NPCIL (Nuclear Power Corporation of India), including components for the pressurised heavy water reactors (PHWRs).