Knowledge Marine & Engineering Works Strengthens Maritime Security with Repeat Order from New Mangalore Port Authority

Knowledge Marine & Engineering Works Ltd. (KMEW) has secured a significant repeat contract from the New Mangalore Port Authority for the deployment of a security patrol boat. This second work order is for the hiring of one No. of River Sea Vessel (RSV) type IV Security Patrol Boat, complete with all necessary manpower (excluding High Speed Diesel). The contract spans five years and is valued at Rs 10,66,43,732 (inclusive of GST). This dedicated patrol boat will focus exclusively on security services, including patrolling and monitoring the port’s waters to safeguard vessels, personnel, and critical port infrastructure, thereby significantly enhancing the overall safety and functioning of New Mangalore Port. KMEW stated that it will construct the patrol boat in-house, ensuring it meets specific requirements and is deployed within the stipulated timeframe, a strategy that offers a cost-competitive advantage.

This success at New Mangalore Port reinforces KMEW's strong foothold in the maritime security sector and its commitment to enhanced service offerings. The company boasts a significant PAN-India footprint, currently delivering patrol boat services to five out of the nation’s twelve major ports, highlighting its strategic positioning and proven capabilities in protecting critical port infrastructure. With a consistent record of reliability, KMEW is well-positioned to capitalise on the anticipated growth in the patrol boat sector, which is being driven by accelerating government investments, port expansions, and the emergence of new trade corridors. These market dynamics are expected to further strengthen KMEW’s market leadership and reinforce its role as a trusted partner in India’s evolving maritime security ecosystem.

About Knowledge Marine & Engineering Works Ltd

Incorporated in 2015, KMEW is in the business of owning and operating Marine Crafts, dredging, repair and maintenance/refits of Marine Crafts and Marine Infrastructure. The Company provides multiple solutions of marine engineering, including dredging at various ports, carrying out repair and refit services of naval and merchant ships, conducting hydrographic and magnetometer surveys and providing technical solutions for maintenance and operations of vessels. Over the years, it has become an established player in the small marine craft business segment and dredging services in India and has evolved from a small ship-repair unit to a ship-owning Company. The company has a multi-million Order Book from esteemed clients such as the Ministry of External Affairs, Kolkata Port Trust, Visakhapatnam Port Trust, Deendayal Port Trust, Paradip Port Trust, Dredging Corporation of India and various other ports.

The company has a market cap of over Rs 3,500 crore and a Guru Investor, Ashish Kacholia, holds a 2.89 per cent stake in the company. The shares of the company have a PE of 71x, an ROE of 26 per cent and an ROCE of 25 per cent. The stock has given multibagger returns of 133 per cent from its 52-week low of Rs 1,265 per share.

Disclaimer: The article is for informational purposes only and not investment advice.