The shares of the marine engineering solution provider gained 5.5 percent and reached an all-time high price of Rs 1,505 apiece after the company received an order for the Supply and Sale of Dredged Marine Sand.
At 2:15 p.m., Knowledge Marine & Engineering Works Ltd shares were trading at Rs 1,475 a share on the Exchange, up Rs 76.50 or 5.47 percent.
As per the company’s exchange filing, Knowledge Dredging Co. W.L.L, India, a subsidiary of Knowledge Marine & Engineering Works Ltd in Bahrain, has received four separate Letters of Intent from various Sand Buyers: M/s Haji Hasan Group, M/s TCT Marine Contracting WLL, M/s K7 Contracting WLL, and M/s Alsalem Contracting. The contract is for the “Supply and Sale of Dredged Marine Sand,” with a total value of 15.45 Million Bahraini dinars (roughly comparable to 342.06 Crores of Indian Rupees) over a five-year term.
Knowledge Marine & Engineering Works gained multibagger returns of 187 percent over a year. A shareholder’s investment of Rs. 1 lakh in the business would be worth Rs. 2.87 lakhs after a year.
Ace investor Ashish Kacholia holds 300000 shares in the firm as of the June 2023-24 quarter, equivalent to 2.78 percent.
The company’s revenue from operations climbed by 88 percent year on year to Rs 79 crore in FY 22-23, up from Rs 42 crore in FY 21-22. During the same time period, the company’s net profit climbed by 44 percent to Rs 23 crore, up from Rs 16 crore of the previous year.
The company has strong profitability ratios, With a return on equity at 35.57 percent and a return on capital employed at 46.48 percent, And company also maintained strong margins, with a net profit margin of 23.93 percent and an operating margin of 33.25 percent.
As per the latest shareholding pattern, the promoters hold 67.09 percent of the company, and retail investors hold 32.33 percent.
Knowledge Maritime & Engineering Operations Limited operates in India through owning, chartering/hiring, manning, operating, and maintaining maritime vessels, dredging, and repairing/maintaining marine crafts, marine infrastructure, and connected operations.
Written by Omkar Chitnis
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