KMEW
Knowledge Marine & Engineering Works share price & financials
- Price
- ₹2,072.9
- Market cap
- ₹7.5k Cr
- Sector
- Services
- Calls analysed
- 3
Knowledge Marine & Engineering Works Limited Q1 FY27
What went well
- Revenue from operations grew 138% YoY to INR115.41 crores, driven by strong dredging performance.
- EBITDA increased 258% YoY to INR73.41 crores, with an impressive EBITDA margin of approximately 64%.
- Profit after tax surged 466% YoY to INR62.75 crores, reflecting a PAT margin of approximately 54%.
What Knowledge Marine & Engineering Works Limited does
Knowledge Marine & Engineering Works owns and operates a fleet of dredgers, tugs, patrol boats and other marine craft that it charters to ports and government agencies such as the Dredging Corporation of India, Inland Waterways Authority of India and major port trusts, typically under long-duration (3-15 year) hire and manning contracts. It earns from three lines: capital and maintenance dredging (clearing/deepening port channels and inland waterways), charter and hire of ancillary craft (tugs, patrol boats, mooring launches, survey vessels) with crew, and shipbuilding/ship repair through its own and acquired shipyards. It also holds land near the upcoming Vadhavan Port to build a shipyard, and has entered green-tug (electric/hybrid tug) contracts and overseas dredging projects in Myanmar and Bahrain.
Segments
- Dredging
- Charter & Hire
- Shipbuilding
- Fleet size
- 45+ vessels
- Workforce
- 506+ employees
- Dredging vessels
- 19 (3 TSHD, 9 CSD, 2 grab dredgers, 2 backhoe dredgers, 3 hopper barges)
- Port ancillary vessels
- 27 (tugs, mooring boats, speed patrol boats, pilot boat, green tugs, multicat and survey support vessels)
- Shipyard land
- 15 acres acquired at Saphale (near upcoming Vadhavan Port) for a shipbuilding facility, on a 20-acre yard site
- Geographic footprint
- Operations across Indian ports and inland waterways, plus international projects in Myanmar and Bahrain
Guidance record · Q1 FY27
what the last two calls moved 15 tracked 2 delivered 2 missed 11 open- Revenue and Profit Margin Baseline delivered said Q3 FY26 Promised: this can be considered as the benchmark going forward into the future. Q1 FY27: The company delivered exceptionally strong Q1 FY27 results (Revenue ₹115.41 cr, EBITDA Margin 64%), significantly exceeding the Q3 FY26 benchmark and confirming that the Q4 dip was a one-off timing issue.
- Effective Tax Percentage went quiet said Q3 FY26 Promised: The guidance would be anywhere between less than 1% of the turnover as the total tax implication. Q1 FY27: No update was provided on the effective tax rate or the tonnage tax scheme during the quarter.
- Revenue Growth revised up said Q4 FY26 Promised: So we are projecting a revenue increase of 30% year-on-year for the next 2 years. Q1 FY27: Following a strong Q1, management significantly increased its guidance for FY27 revenue growth from 30-40% to 'northwards of 60%'.
All 15 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 238.2%, net profit up 771.4% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 41 | 42 | 36 | 34 | 47 +15% | 82 +95% | 62 +72% | 115 +238% |
| EBITDA | 15 | 18 | 13 | 14 | 19 +27% | 34 +89% | 22 +69% | 71 +407% |
| Net profit | 9 | 10 | 9 | 7 | 10 +11% | 30 +200% | 31 +244% | 61 +771% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +63.8% 1Y
1Y: ₹1,751.9 on 10 Sept 2025 → ₹2,869.2. High ₹3,707.3 (16 Dec 2025), low ₹1,443.1 (23 Mar 2026).
How the price took the results
close before → close after
- Q1 FY27
- +3.5%
- 26 Aug
- Q4 FY26
- −3.8%
- 5 Jun
- Q3 FY26
- −4.2%
- 19 Feb
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 51.0% a year over 1 year, FY25 to FY26. Operating margin widened to 39.6%.
| Year ending | FY25 | FY26 |
|---|---|---|
| Revenue | ₹149 Cr | ₹225 Cr |
| Operating profit | ₹57 Cr | ₹89 Cr |
| Operating margin | 38.3% | 39.6% |
| Interest | ₹7 Cr | ₹13 Cr |
| Depreciation | ₹8 Cr | ₹18 Cr |
| Net profit | ₹35 Cr | ₹78 Cr |
| Net margin | 23.5% | 34.7% |
| Cash from operations | ₹40 Cr | ₹48 Cr |
| Free cash flow | ₹-61 Cr | ₹-111 Cr |
| ROCE | 24.0% | 17.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹10 Cr | ₹10 Cr | ₹11 Cr | ₹11 Cr | ₹11 Cr | ₹12 Cr |
| Reserves | ₹15 Cr | ₹35 Cr | ₹120 Cr | ₹148 Cr | ₹229 Cr | ₹533 Cr |
| Borrowings | ₹11 Cr | ₹21 Cr | ₹24 Cr | ₹10 Cr | ₹146 Cr | ₹222 Cr |
| Other liabilities | ₹4 Cr | ₹16 Cr | ₹47 Cr | ₹27 Cr | ₹47 Cr | ₹15 Cr |
| Total liabilities | ₹41 Cr | ₹81 Cr | ₹202 Cr | ₹196 Cr | ₹432 Cr | ₹783 Cr |
| Fixed assets | ₹24 Cr | ₹49 Cr | ₹56 Cr | ₹65 Cr | ₹190 Cr | ₹213 Cr |
| Capital work in progress | ₹3 Cr | ₹2 Cr | ₹8 Cr | ₹12 Cr | ₹27 Cr | ₹99 Cr |
| Investments | ₹1 Cr | ₹4 Cr | ₹12 Cr | ₹29 Cr | ₹46 Cr | ₹3 Cr |
| Other assets | ₹13 Cr | ₹27 Cr | ₹126 Cr | ₹89 Cr | ₹169 Cr | ₹467 Cr |
| Total assets | ₹41 Cr | ₹81 Cr | ₹202 Cr | ₹196 Cr | ₹432 Cr | ₹783 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Aug 2026
Since Sep 2025, FIIs added +11.90 pp while promoters trimmed −10.70 pp. The shareholder count grew 214% to 23,571.
- Promoters
- 50.0%
- FIIs
- 12.6%
- DIIs
- 3.9%
- Public
- 33.5%
Since Sep 2025
- FIIs +11.90 pp
- Promoters −10.70 pp
- Public −4.95 pp
How it drifted, 12 quarters
Over this window promoters fell from 67.1% to 50.0% — −17.1 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 67.1%, FIIs 0.3%, Public 32.6%.Dec '23: Promoters 67.1%, FIIs 0.2%, Public 32.7%.Mar '24: Promoters 60.6%, FIIs 1.2%, DIIs 2.2%, Public 36.0%.Sep '24: Promoters 60.7%, FIIs 1.0%, DIIs 2.9%, Public 35.5%.Dec '24: Promoters 60.7%, FIIs 0.8%, DIIs 2.2%, Public 36.3%.Mar '25: Promoters 60.7%, FIIs 0.6%, DIIs 1.9%, Public 36.8%.Jun '25: Promoters 60.7%, FIIs 0.5%, DIIs 0.1%, Public 38.7%.Sep '25: Promoters 60.7%, FIIs 0.7%, DIIs 0.1%, Public 38.4%.Dec '25: Promoters 53.6%, FIIs 11.0%, DIIs 0.5%, Public 34.9%.Mar '26: Promoters 53.6%, FIIs 11.8%, DIIs 1.7%, Public 32.9%.Jun '26: Promoters 51.6%, FIIs 12.1%, DIIs 1.5%, Public 34.8%.Aug '26: Promoters 50.0%, FIIs 12.6%, DIIs 3.9%, Public 33.5%.
Who bought this quarter
since Jun 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- 360 One Pipe Fund Mutual fund newly disclosed 1.52% held
The same filing shows 10 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Aug 2026 filing
Every holder of Knowledge Marine & Engineering Works Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| Kanak Sujay Kewalramani | 26.96% | −0.85 pp |
| Saurabh Mukesh Daswani | 10.20% | −0.32 pp |
| Pinkesh Pritam Kewalramani | 10.17% | −0.32 pp |
| Infinity Direct Capital FPI fund | 4.33% | −0.14 pp |
| Infinity Direct Holdings VC / PE | 3.68% | −0.12 pp |
| Dinesh Mohanlal Kewalramani | 2.58% | −0.08 pp |
| Ashish Kacholia | 2.36% | −0.53 pp |
| Infinity Partners II - Direct FPI fund | 2.00% | −0.07 pp |
| Vijay Mohan Karnani | 1.99% | −0.06 pp |
| 360 One Pipe Fund Mutual fund | 1.52% | newly disclosed |
| Invesco India Flexi Cap Fund Mutual fund | 1.35% | −0.11 pp |
| Vimana Capital Management LLP | 1.28% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
What the price assumes
AttractiveTo justify its price of ₹2869, this stock must grow earnings at 34% every year for 7 years. Our analysis caps realistic growth at ~86%. At that growth it is worth ₹25509 — upside of 789%.
- Growth the price implies
- 33.6% a year
- for 7 years, fading to 4%
- It has actually compounded at
- 85.7% a year
- net profit, FY25–FY26
- The gap
- -0.5 pp
- 789% downside if it only repeats history
All earnings calls (3)
Read the Q1 FY27 call →Learn to analyse Knowledge Marine & Engineering Works Limited
Guides on how to read this kind of business and the numbers that matter.