Knowledge Marine & Engineering Works Ltd. (KMEW) has announced that its subsidiary company Indian Ports Dredging Private Limited (IPDPL), has received an extension on the existing contract of u201cDredging of Lock and Approach Jetty and De-siltation of Grooves, Cambers of Lock Gates and Dry Dock Gates at KPD and NSD for a period of 6 months w.e.f. 24/01/2023 for an amount of Rs. 2.52 Crores (excluding GST) from Syama Prasad Mookerjee Port, Kolkata (SMPK).The KMEW Group successfully completes the aforementioned work, and on February 23, 2023, the IPDPL receives the aforementioned extension. This additional work order from SMPK for Rs. 2.52 Crores represents a 10.63% increase over the initial work order. u201cWith this extension, the group can utilize M.V. River Pearl 2, Self-Propelled Grab Hopper Dredger for a further period of six months, said KMEW in a stock exchange filing.
Mr. Sujay Kewalramani, CEO of Knowledge Marine & Engineering Works said The said extension shows the long-term relationship and confidence of our employer on us, and KMEW Group is pleased to have received this extension from SMPK. The said dredging contract is being executed by River Pearl 2, a self-propelled grab hopper dredger, and is successfully well underway. We look forward to completing this enhanced contract and continuing to build a long-term partnership with Kolkata Port Authorities.
Source: Invest wid DeepakDuring FY22, Knowledge Marine & Engineering Works Ltd. (KMEW) reported net revenue of 61.62 Cr, up by 84.39% from 33.42 Cr recorded in FY21. The company said its net expenses reached 33.61 Cr in FY22, up by 40.66% from 23.89 Cr recorded in FY21. The company reported a net profit of u20b919.48 Cr in FY22, up by 198.61% from6.52 Cr recorded in FY21. The EPS of Knowledge Marine & Engineering Works reached 19.89 in FY22 compared to Rs. 9.04 in FY21. The company is yet to declare its Q3FY23 earnings.
On Friday, the shares of Knowledge Marine Engineering Works Ltd closed on the BSE at u20b91003.85 apiece level, down by 1.58% from the previous close of u20b91020.00. The stock price climbed from Rs. 36.85 to the present price level over the past five years, resulting in a multi-bagger return of 2,627.27%. The stock price rose from Rs. 37.45 to the current market price during the past three years, resulting in a multi-bagger return of 2,541.71%.
The stock price jumped from Rs. 150 to the current market price during the course of the past year, resulting in a multi-bagger return of 617.04%. On a YTD basis, the stock has fallen 10.99% so far in 2023 but in the last 6 months, the stock has managed to gain 95.15%. During Q3FY23, ace investor Ashish Kacholia bought 2,50,000 shares or a 2.31% stake in Knowledge Marine Engineering Works.
During the said quarter, the company recorded a promoter shareholding of 67.09%, a FIIs stake of 0.60%, and a public stake of 32.32%. Ashish Kacholia’s portfolio stock Knowledge Marine Engineering Works touched a 52-week-high of Rs. 1,450.00 on (13/01/2023) and a 52-week-low of Rs. 134.55 on (09/03/2022).
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