Knowledge Marine & Engineering Works Ltd awarded order by IWAI

Knowledge Marine & Engineering Works Limited ("KMEW") (BSE: 543273) (NSE: KMEW) have been awarded a work order by Inland Waterway Authorities of India ("IWAI") for the "Design, construction and supply of 6 Nos. of Work Boats and 6 Nos. of Accommodation Boats". The work order is valued at ₹ 80.69 Crores (Rupees Eighty Crores Sixty-Nine Lakhs) including taxes.

The supply of these works boats and accommodation boats will be utilized by the IWAI for "Capacity Augmentation of National Waterway-1 (River Ganga) Project".

This prestigious order marks our formal entry into the commercial shipbuilding sector, wherein Company will start generating revenue from its ship building activity. Over the past decade, KMEW has evolved from a ship repair unit into a trusted provider of dredging services across India's major ports. This new chapter builds on that legacy.

Having successfully built vessels for our own operational needs, this contract signifies a strategic shift: leveraging our deep technical expertise and proven capabilities to serve third-party clients. It reflects the confidence placed in our craftsmanship, operational excellence, and ability to deliver marine assets with precision and reliability.

This expansion into third-party shipbuilding is not just a business win, it's a testament to our vision, versatility, and readiness to contribute meaningfully to India's maritime infrastructure. With this contract, KMEW reaffirms its commitment to innovation, quality, and nation-building through maritime excellence.

Commenting on the Work Order, Mr. Sujay Kewalramani, CEO of Knowledge Marine & Engineering Works Ltd said that, We are proud to announce a landmark achievement wherein KMEW has secured its first order for the design, construction and supply of 6 Nos. of Work Boats and 6 Nos. of Accommodation Boats for the Inland Waterways Authority of India (IWAI). This milestone marks a pivotal expansion into the shipbuilding domain, reinforcing diversification within the maritime sector. KMEW always had a vision of entering into ship building and had motive to provide Make In India ships to the Third Party and contribute towards nation building. Till now we were doing ship building for inhouse and supplying the same on charter to Govt. of India. This is our maiden contract wherein ship building will directly be B to G business which will help us unlock the real value that we have created in the Ship Building team. We want to be know as the company that builds dredgers and ancillary crafts in India. This will help in providing steady work for the recent acquisition of the shipyard by the company.

This order win not only strengthens our portfolio but also aligns with the Government of India's strategic focus on enhancing port efficiency and Inland waterway infrastructure. It also affirms our growing role in supporting national maritime objectives through supply of reliable and high-quality ancillary services. This achievement reflects our unwavering dedication to excellence, precision, and timely execution-hallmarks of our brand that drive sustained growth and stakeholder trust."

Shares of Knowledge Marine & Engineering Works Ltd was last trading in BSE at Rs. 1628.70 as compared to the previous close of Rs. 1669.60. The total number of shares traded during the day was 2344 in over 378 trades.

The stock hit an intraday high of Rs. 1705.00 and intraday low of 1613.10. The net turnover during the day was Rs. 3865445.00.

Source : Equity Bulls

Keywords

KnowledgeMarineandEngineeringWorks INE0CJD01011 KMEW OrderWin IWAI