This stock is held 2.8% in Ashish Kacholia’s Portfolio and has received a new order from Paradip Port Authority. The stock currently trades at Rs. 1475.00 versus Rs. 1494.25 at previous close.
The company has a market cap of Rs. 1,593 crore and is currently trading 19% away from its 52 week high and has returned 113% in the last 1 year period, making it a multibagger. Meaning, if you invested Rs. 1 lakh into this stock a year ago, it would now be worth over Rs. 2.1 lakh. The company was listed fairly recently in late Q4 FY22.
Knowledge Marine & Engineering Works Ltd (“Knowledge Marine”) stated in a filing dated 12th October 2023 that it has bagged a project in Paradip for “Supply of 01 no. 20 Knots Speed Patrol Boat along with manning crew on hire for a period of five years” for an amount of Rs. 5.02 Crores.
Paradip Port Authority is one of the major ports on the East Coast of India. The latest order win allows the company to expand its operations on the East Coast, where they already provide services to one of the major ports, Visakhapatnam Port. Further, Knowledge Marine has already provided a similar kind of boat to Visakhapatnam Port in the year 2022.
This order marks Knowledge Marine’s third successful contract win in the fast-speed patrol boat category, underlining the company’s growing presence and success in the small craft business. A new craft, the “High-Speed Patrol Boat” with a speed of 20 knots, will be added to the company’s fleet soon.
Commenting on the Letter of Award, Mr. Sujay Kewalramani, CEO of Knowledge Marine said that, “We are excited to announce our recent success in securing a contract with Paradip Port Authority, underscoring our company’s exceptional performance and capabilities.
This accomplishment signifies our expansion to additional major ports in India. This contract win reflects our ongoing achievements in the small craft business through the diverse range of services we offer. We are actively exploring new opportunities, both within our domestic market and on the global stage”
Knowledge Marine was incorporated in 2015 and focuses primarily on building marine infrastructure and crafts. It is a well-known company in India’s small crafts industry. The company’s operations are divided into two segments: one consists of owning and operating Marine Craft, and the other is made up of ancillary services like repairing and maintenance, providing technical manpower solutions, carrying out marine hydrographic and magnetometer surveys, etc.
Written by Sandeep R
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