Shares of Knowledge Marine & Engineering Works Ltd (KMEW) climbed nearly 7% in intraday trade on Monday after the company secured a ₹66.11 crore order from the Inland Waterways Authority of India (IWAI) and outlined a ₹3,000 crore project pipeline at a recent investor meet.
The stock rose to an intraday high of ₹2,244, compared with the previous close of ₹2,072.90, before trading around ₹2,212. With a market capitalisation of about ₹5,412 crore, the stock remains close to its 52-week high of ₹2,285.40.
₹66 crore government order for hybrid ferries
On June 20, KMEW said a consortium comprising its subsidiary Knowledge Shipyard Private Limited (KSPL) and KMEW had received a work order from IWAI, which functions under the Ministry of Ports, Shipping and Waterways.
The contract involves the:
- Design
- Construction
- Supply
- Testing
- Commissioning
of 10 hybrid electric passenger ferries, each with a capacity of 20 passengers.
Order details
- Total contract value: ₹66.11 crore, including taxes
- Construction component: ₹65.52 crore
- Maintenance support: ₹0.59 crore
- Construction period: 10 months
- Maintenance tenure: 60 months
The project includes hybrid-electric propulsion systems, safety and navigation equipment, class approvals and final delivery in accordance with IWAI requirements.
According to management, the order will utilise less than 5% of the capacity at the company’s Saphale Shipyard.
The project is also aligned with the government’s Harit Nauka Inland Vessels Green Transition Guidelines, which promote low-emission inland water transport.
Notably, this is KSPL’s first external commercial shipbuilding order from the Government of India.
₹3,000 crore bid pipeline
At its investor meet, “Samruddhi Season 3 Nav-Bharat ka Caravan“, organised by Hem Securities on June 19, KMEW shared details of its expansion plans.
Management said the company currently has an order book of around ₹1,633 crore, comprising:
- Dredging: ₹500 crore
- Charter hire: ₹900 crore
- Shipbuilding: ₹233 crore
The company also disclosed a ₹3,000 crore bid pipeline, covering opportunities in:
- Dredging
- Charter hire
- Green Tug projects
- Shipbuilding
These projects are expected from IWAI and the Dredging Corporation of India.
KMEW said it has already secured two Green Tug contracts. Each vessel is estimated to cost about ₹90 crore and comes with a 15-year contract period.
Shipyard expansion plans
The company has acquired 15 acres at Saphale in Palghar, near the upcoming Vadhavan Port.
It plans to invest ₹300 crore in three phases, with the first phase expected to become operational next year.
FY26 earnings
KMEW reported strong growth during FY26.
Full-year performance
- Revenue increased 27.69% year-on-year to ₹256.28 crore
- Net profit rose 58.2% to ₹78.80 crore
Q4 FY26
- Net profit jumped 140.68% year-on-year to ₹26.21 crore
Management also said dredging and charter hire assets were operating at 100% utilisation.
Separately, the company disclosed under SEBI’s insider trading regulations that two promoter-group members sold shares on June 19.
Kanak Kewalramani
Whole-time Director and CFO Kanak Kewalramani sold:
- 3,45,620 shares
- Transaction value of about ₹67.83 crore
Her shareholding declined from 29.22% to 27.81%.
Dinesh Kewalramani
Chief Operational Officer and promoter-group member Dinesh Kewalramani sold:
- 1,67,200 shares
- Shares worth around ₹32.80 crore
His stake fell from 3.35% to 2.66%.
In total, promoter-group members sold 5,12,820 shares through open market transactions on the BSE.
About the company
Mumbai-based Knowledge Marine & Engineering Works Ltd operates in:
- Dredging
- Charter hire
- Shipbuilding
- Vessel repair services
Its fleet includes trailing suction hopper dredgers, cutter suction dredgers, hopper barges and more than 27 port ancillary vessels.
The company has been listed on both the NSE and BSE since November 2024.
TL;DR
KMEW shares rose nearly 7% after the company won a ₹66.11 crore order from IWAI to build 10 hybrid electric ferries. Management also highlighted a ₹3,000 crore bid pipeline, though promoter-group members sold shares worth over ₹100 crore on June 19.
AI Summary
- KMEW secured a ₹66.11 crore order from IWAI.
- The contract involves building 10 hybrid electric ferries.
- The company disclosed a ₹3,000 crore bid pipeline.
- FY26 net profit rose 58.2% to ₹78.8 crore.
- Promoter-group members sold shares worth about ₹100 crore.
