The small-cap shipbuilder stocks received a post-market order worth Rs 126.91 crores for seven years. However, before that the stock ended Monday’s session in red.
Knowledge Marine & Engineering Works (KMEW) bags a project from Mumbai Port Authority for “Hiring of Two Dock Tugs for 07 Years” for an amount of Rs. 34.49 Crores (Excluding Fuel Consumption Cost and GST). The total tender amount including the fuel consumption stands at Rs 126.91 crores.
The filing was released post-market hours. At the close, the stock declined by approximately 5 percent at Rs 1,320 levels. The stock has been volatile and delivered 11 percent in the last six months and 59 percent in the last year.
The board of the company is set to meet on November 14th, 2023 to approve its Q2 results. In the previous quarter, they reported a 231 percent jump year on year in their revenue from Rs 61 crores in Q4FY22 to Rs 202 crores in Q4FY23. Also, the net profit rose 123.8 percent year on year from Rs 21 crores Q2FY23 to Rs 47 crores Q2FY24.
The last five years have seen the company deliver strong profit growth of 104% CAGR. The company has a strong track record of a return on equity (ROE) of 48.23% and a return on capital employed (ROCE) of 46.73% for an average of 3 years.
Mr.Ashish Kacholia owns 2.78 percent of the company, or 3,00,000 shares. According to the most recent shareholding pattern, the company’s promoters own 67.09 percent of the company, while foreign institutional investors own 0.33 percent. the public holds 32.58, and the remaining lies with the public.
Knowledge Marine & Engineering Works Limited, a small cap company with a market cap of 1,422 crores, is engaged in the business of owning, chartering/hiring along with manning, operation, and technical maintenance of marine crafts, dredging, and repairs/maintenance of marine crafts marine infrastructure, and allied works in India.
Written by Sriram KV
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