Shares of this small cap company specialising in marine engineering and dredging services rose 3.17% after signing a contract with Dredging Corporation of India for Rs. 17.77 Crores.
Share price variations:
With a market capitalization of Rs. 1,873.97 crores, Knowledge Marine & Engineering Works Limited opened the trading session at Rs 1,615.10, down 3.1% from Tuesday’s close of Rs 1,681.70. The stock then rallied to close at an intraday high of Rs 1,735.00, reflecting a 3.17% gain from the previous close
Reasons for the rise:
According to the exchange filing, Knowledge Marine & Engineering Works Limited has received a contract worth Rs. 17.77 crores from Dredging Corporation of India Limited for maintenance dredging and salvaging work at Kandla Port, Gujarat having a contract period of Three years.
Recent contracts:
In September, the company received a work order from the Mumbai Port Authority for the hiring of two patrol boats, valued at Rs. 19.27 crores. In August, it secured a work order from the New Mangalore Port Authority for the hiring of one RSV Type IV Security Patrol Boat at a cost of Rs. 9.69 crores.
Financial Performance:
For FY24 the company reported a net profit decrease of 41.54 % to Rs. 27.24 crores compared to net profit of Rs. 46.6 crores in FY23, while revenue from operations also marked an decrease by 28.47% to Rs. 139.28 crores from Rs. 194.72 crores in comparison to the same period.
The company reported a return on equity (ROE) of 18.84% and a return on capital employed (ROCE) of 24.92% for FY24. The order book value as on march 31 2024 stands at Rs. 491 crores
As of September 2024, ace investor Mr. Ashish Kacholia holds a 2.78% stake in the company, equivalent to 3,00,000 equity shares, with a current market value of Rs. 52.05 crores.
About the company:
The Company is engaged in owning and operating Marine Crafts; and Repair and maintenance/refits of Marine Crafts and Marine Infrastructure. The Company provides marine engineering services like dredging at various ports of India; carrying out repair & refit services of naval & merchant ships; conducting hydro graphic & magnetometer surveys; providing technical solutions for maintenance and operations of vessels.
Written By Joseph Pv
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
