The order entails design, manufacture, supply, testing and commissioning of lighting systems, along with CMC spares and tools for metro cars. Execution is scheduled to begin with supplies from November 2026 and is expected to be completed within 17 months.

The contract includes a payment term of 100% within 45 days from the date of respective supplies, while inspection will be conducted by BEML at its Bengaluru facility.

Airfloa Rail Technology said the order is a domestic contract and does not fall under related party transactions. The company also confirmed that promoters and promoter group entities have no interest in the awarding authority.

Airfloa Rail Technology is primarily engaged in the manufacturing of components used in rolling stock for Indian Railways, supplying through railway production units such as the Integral Coach Factory (ICF) and other coach factories. The company also undertakes turnkey interior furnishing projects for Indian Railways. In the aerospace and defence sectors, it manufactures intricate, highly engineered, and critical components. Along with Indian Railways, the company also serves other railway factories and global rolling stock OEMs. The company recorded revenue from operations of Rs 192.39 crore and net profit of Rs 25.56 crore for the year ended 31 March 2025. Shares of Airfloa Rail Technology fell 1.88% to currently trade at Rs 276.95 on the BSE.

BEML is a multi-technology ‘Schedule A’ company under the Ministry of Defence, operating across three verticals—defence & aerospace, mining & construction, and rail & metro. As of 31 December 2025, the Government of India held a 54.03% stake in the company.

The company reported a consolidated net loss of Rs 22.38 crore in Q3 FY26, compared with a net profit of Rs 24.41 crore in Q3 FY25. Revenue from operations increased 23.69% year-on-year to Rs 1,083.27 crore for the quarter ended 31 December 2025. The scrip tanked 6.77% to Rs 1,412 on the BSE.