Knowledge Marine & Engineering Works Ltd Share Price – BSE

Ship Building, Small Cap

Knowledge Marine & Engineering Works has bagged a contract from V.O. Chidambaranar Port for the work of “Supply, Manning, Operation and Maintenance of one number High-Speed Patrol Boat (HSPB) of 20 knots speed or more on hire basis”. The contract is valued at Rs. 5.86 crores (including GST) for a period of five years.

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The scope of the order entails supply, manning, operation and maintenance of one number high-speed patrol boat (HSPB) of 20 knots speed or more on hire basis for a period of five years.

The company has secured its first contract worth Rs 5,86,05,14 in the southern region of India. This addition to the company's portfolio signifies the ability of the firm to penetrate new markets, said the company.

V.O. Chidambaranar Port holds a prominent position as one of India's twelve major ports, ranking as the second largest in Tamil Nadu and housing the country's third largest container terminal.

This achievement enhances the company’s reputation and influence within the maritime sector, showcasing its ability to secure and manage substantial contracts from key ports across India. This contract not only reaffirms the company's proficiency in delivering high-speed patrol boats, a domain where it has already achieved success with deployments at Vizag Port and Paradip Port, but it also marks its fourth triumph in this category, the company stated in the press release.

This further cements the company's standing and capabilities in this specialized field. This will increase the company’s fleet to 27 and clientele to 15 including Ports, PSUs and Ministries of three different countries, it added.

Following the winning of the contract, the company will deploy its 27th vessel to execute the contract within the stipulated time. The said vessel will be newly built with the life of 20 years and will ensure that the project is completed efficiently and within the designated timeframe. Work is set to commence within 180 days from the receipt of the order, the firm said.

Sujay Kewalramani, CEO of Knowledge Marine & Engineering Works, said, “This milestone further enriches our portfolio, complementing our ongoing successes at ports in both the eastern and western regions of the country. It underscores our commitment to exploring new opportunities nationwide.

Looking ahead to FY25, we are enthusiastic about maintaining our momentum, with a focus on expanding into new segments while reinforcing our existing portfolio. This achievement boosts our confidence in securing more projects and solidifies our position in both the Indian and international markets.”

Knowledge Marine & Engg Works is engaged in the business of owning, chartering/hiring along with manning, operation and technical maintenance of marine crafts, dredging and repairs/maintenance of marine crafts and marine infrastructure and allied works in India.

The company’s consolidated net profit dropped 63.27% to Rs 8.58 crore on 28.05% decline in revenue from operations to Rs 56.70 crore for Q4 FY24 over Q4 FY23.

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The contract, valued at Rs 7.50 crore, will be executed within 4 months excluding the monsoon season.

The said order involves undertaking capital dredging to clear the hard patches in the North Dock Complex area of Paradip Port. KMEW will deploy its existing vessel River Pearl 2 “Grab Hopper Dredger” for the said project.

Sujay Kewalramani, CEO of Knowledge Marine & Engineering Works, said: We are thrilled to announce our new contract for our existing vessel River Pearl 2.

Our focus on exploring new segments complements our steadfast dedication to our traditional business areas. This dual approach allows us to employ our extensive expertise and ensure timely execution in all our endeavors. A key aspect of our strategy is the effective utilization of our advanced equipment, such as the Grab Hopper Dredger River Pearl 2.

We are also pleased to highlight our focus on strengthening asset utilization, which has enabled us to win continuous orders and keep our dredgers actively engaged. This strategy not only optimizes the use of our assets but also ensures the successful execution of our projects, reinforcing our leadership in the industry.

Knowledge Marine & Engineering Works is engaged in the business of owning, chartering/hiring along with manning, operation and technical maintenance of marine crafts, dredging and repairs/maintenance of marine crafts and marine infrastructure and allied works in India.

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Knowledge Marine & Engineering Works received a Letter of Award (LOA) from the Dredging Corporation of India for the Capital Dredging work at the Paradip Port. The contract, valued at Rs. 7,49,50,000/-, will be executed within 4 months excluding the monsoon season.

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