Knowledge Marine & Engineering Works Ltd

Knowledge Marine & Engineering Works posted consolidated PAT of ₹21.53 Cr on revenue of ₹70.81 Cr for Q2 FY27, up 81.0% and 41.1% YoY respectively against a weak year-ago base (₹11.90 Cr PAT, ₹50.17 Cr revenue). But sequentially the print looks soft — PAT fell 65.7% and revenue 38.6% versus Q1 FY27's blockbuster ₹62.75 Cr/₹115.41 Cr. That QoQ drop is a seasonality artifact, not a reversal: segment data shows dredging revenue collapsed to ₹30.30 Cr from ₹104.41 Cr in Q1 (-71% QoQ, also -12.8% YoY), consistent with management's own standing guidance that 'dredging volumes expand post-monsoon' — Q2 (Jul-Sep) is peak monsoon. Shipbuilding more than offset on a YoY basis, with revenue up 162.8% YoY and 268% QoQ to ₹40.51 Cr as the Saphale yard ramps, but it couldn't fully backfill dredging's sequential loss. The mix shift hit margins: OPM (EBITDA/revenue) compressed to 39.96% from 63.60% in Q1 as the higher-margin dredging business shrank as a share of the pie, while NPM fell to 26.50% from 52.89%. On a YoY basis margins are essentially flat (OPM 39.82%→39.96%), so the compression is entirely a Q1-vs-Q2 mix story, not underlying deterioration. Against management's own framing, the quarter is a clear beat on guidance: H1 FY27 consolidated revenue of ₹186.22 Cr is up 88.8% YoY, well ahead of the raised FY27 target of ~60% growth set on the last call, and tracks toward the FY29 ₹1,000 Cr ambition. No company press release accompanied this filing beyond the bare board-outcome letter, so there is no fresh management commentary to reconcile against the numbers. On Street expectations, no quarter-specific preview could be found; the only available reference is a full-year FY27 consensus of ~₹481 Cr revenue (+87.7%) and ~₹56.90 EPS, which would require roughly ₹295 Cr of revenue in H2 against H1's ₹186 Cr — plausible only if dredging recovers post-monsoon as guided and shipbuilding keeps scaling. Within the quarter, KMEW signed a ₹279.33 Cr, 15-year electric-tug charter contract with Mumbai Port Authority (Sep 19, 2026) — a chartering win that doesn't yet show up in this quarter's revenue but aligns with the FY29 segment mix target (5% chartering) — and CARE Ratings raised its outlook to Positive (Sep 21, 2026). The company also drew down the ₹149.99 Cr preferential equity raised at ₹1,962.53/share (received Aug 4, 2026) and nearly doubled non-current borrowings (₹194.39 Cr vs ₹108.29 Cr at FY26-end) to fund capex — H1 capex spend of ₹320.43 Cr and capital work-in-progress of ₹344.42 Cr point to active execution of the ₹1,000 Cr capex programme. Going into H2, the setup is a recovery call on dredging (per management's own post-monsoon timeline) layered on a shipbuilding ramp that is already running well ahead of plan, with the post-quarter ₹303.17 Cr NMPA dredging order (Oct 30) and the ₹250 Cr TSHD River Pearl 48 dredger acquisition (Nov 5) both adding to capacity and order book just after quarter-close.

Knowledge Marine & Engineering Works Limited (KMEW) has successfully acquired a Trailing Suction Hopper Dredger (TSHD) named River Pearl 48 for a capital cost of approximately ₹250 crore. This acquisition significantly enhances KMEW's fleet capacity for large-scale maintenance dredging projects. The River Pearl 48 has a maximum dredging depth of 36 meters and an estimated annual dredging capacity of 8-10 million cubic meters. It is slated for immediate deployment at the New Mangalore Port Authority (NMPA) to support a recently awarded three-year maintenance dredging contract. The vessel's Indian flag, classification, and crew align with the government's initiative to promote Indian maritime assets and capabilities.

Knowledge Marine & Engineering Works Ltd has announced that its Board of Directors will convene on November 6, 2026, at 11:30 AM. The primary agenda item is to consider and approve the unaudited standalone and consolidated financial results for the quarter and half-year ended September 30, 2026. Additionally, the board may discuss other business matters with the Chairperson's permission. The trading window for company securities will remain closed from October 1, 2026, until 48 hours after the financial results announcement, closing on November 8, 2026.

Knowledge Marine & Engineering Works Limited (KMEW) has secured its largest-ever dredging order, a three-year maintenance dredging contract from New Mangalore Port Authority (NMPA) valued at ₹303.17 crore (including GST). The contract, covering FY 2026-27 to 2028-29, involves dredging 15.9 million cubic metres over three years, with an annual base contract value of approximately ₹101.07 crore. Operations are set to begin on November 15, 2026. This significant award marks a strategic shift for KMEW towards larger-volume dredging assignments and provides multi-year revenue visibility, strengthening its position in the port infrastructure sector.

Knowledge Marine & Engineering Works Ltd has submitted an application to BSE and NSE for the reclassification of certain members from the promoter and promoter group to the public category. This follows an earlier board approval for the re-classification request. The company has excluded members who have withdrawn their applications, including Pankaj Gurbani and Bharti Mukesh Daswani, who held a negligible number of shares.

Knowledge Marine & Engineering Works Ltd has submitted an application to BSE and NSE for the reclassification of certain members from the promoter and promoter group to the public category. This follows the board's approval of the re-classification request. The company has excluded members who withdrew their applications, including Pankaj Gurbani and Bharti Mukesh Daswani, who collectively held 180 shares, representing a negligible percentage of the total shareholding.

Knowledge Marine & Engineering Works Limited's Board of Directors, in a meeting held on October 21, 2026, has approved requests from several members of the promoter group to be re-classified to the 'Public' category. This decision is in accordance with Regulation 31A of the SEBI (Listing Obligation & Disclosure Requirement) Regulations, 2015. The re-classification is subject to the approval of the stock exchanges. The board meeting commenced at 06:30 p.m. (IST) and concluded at 07:10 p.m. (IST).

Knowledge Marine & Engineering Works Ltd has received requests from members of its Promoter Group seeking re-classification to the Public Category, as per SEBI (Listing Obligation and Disclosure Requirement) Regulations, 2015. The requests, dated October 16, 2026, were received by the company on October 19, 2026. The Board of Directors will consider these requests, and any approval will be subject to stock exchange consent. This move is a procedural step under Regulation 31A of the SEBI (LODR) Regulations.

Knowledge Marine & Engineering Works Ltd has announced November 06, 2026, as the Record Date for its upcoming equity share sub-division. The company plans to split each existing equity share with a face value of Rs. 5/- into five equity shares with a face value of Rs. 1/- each. This corporate action aims to enhance liquidity and make the shares more accessible to a wider investor base. The split shares will rank pari-passu in all respects with the existing shares.

Knowledge Marine & Engineering Works Ltd (KMEWL) has announced the closure of its trading window for all Directors, Promoters, Designated Persons, Connected Persons, and their immediate relatives. This closure is effective from Thursday, October 01, 2026, and will remain in effect until 48 hours after the declaration of the Un-Audited Standalone & Consolidated Financial Results for the quarter and half year ended September 30, 2026. The company stated that these financial results will be considered and approved by the Board of Directors on or before November 14, 2026. The specific date for the Board Meeting to consider these results will be intimated in due course.